Expand / Collapse search
☰

No more cash: 24% say they don't have money in wallet, 38% use cash every few months or not at all

By FOX 32 Digital Staff
Published  July 3, 2022 3:00pm CDT
Money
FOX 32 Chicago

Tips for improving your mental relationship with money

Author Joyce Marter expounds on crucial money management lessons from her book "The Financial Mindset Fix."

CHICAGO - Many Americans are no longer using cash to make daily purchases.

A survey by risk management company Third Party Trust found that 24% of people said they don't have cash in their wallet, and 38% use cash every few months or not at all.

SUBSCRIBE TO THE FOX 32 CHICAGO YOUTUBE CHANNEL FOR MORE CONTENT

The COVID-19 pandemic was the final straw for some people – 19% said they stopped using cash once the pandemic started.

When do people still get cash out of the ATM?

  • 66% Just to have it on hand
  • 53% They’re going somewhere that only accepts cash
  • 28% Tipping
  • 14% Discount for paying with cash 
  • 9% Exchanging it for foreign currency
  • 3% Pay for everything with cash.

Third Party Trust surveyed 1,000 people.