Fewer Americans are using cash for everyday purchases than a decade ago, though many still keep bills on hand, according to a Pew Research Center survey.
Forty-two percent of U.S. adults said they do not use cash for any purchases in a typical week, up from 24% in 2015. Twelve percent said they use cash for all or almost all of their purchases, and 46% said they use it sometimes.
Cashless behavior tracked closely with income. Fifty-eight percent of adults in households earning $100,000 or more a year said none of their weekly purchases involve cash, compared with 43% of those in households earning $50,000 to $99,999 and 24% of those in households earning less than $30,000. About a quarter of adults in the lowest income group said they use cash for all or almost all purchases.
Age differences were also pronounced. About half of adults under 30, or 51%, said they make no cash purchases in a typical week. That figure fell to 46% among adults 30 to 49 and to 37% among those 50 to 64. Adults 65 and older were the least likely to say they never use cash.
Carrying cash remains more common than spending it. Forty-six percent of U.S. adults said they carry physical cash always or most of the time, about one in five said they carry it sometimes, and 32% said they rarely or never do. Among those who carry cash always or most of the time, 26% said they do not use it for any of their typical purchases.
Older adults reported having cash on them far more often than younger ones. A large majority of adults 65 and older said they carry cash always or most of the time, compared with about three in ten adults under 30.
Unlike usage, carrying patterns varied little by income. Half of adults in households earning $100,000 or more said they carry cash always or most of the time, while the figure ranged between 41% and 44% among those in lower-earning households.
