Plastic Beats Cash Among Young Adults | Businessweek


American adults under age 30 hate cash so much that 51 percent of them will use plastic, even for purchases amounting to less than $5. That’s according to a survey released on Wednesday by CreditCards.com.

The older you are, the likelier you are to whip out cash, rather than a debit card or credit card, the study found. Seventy-seven percent of Americans 50 or older prefer cash for purchases of under $5.

Republicans and Democrats are equally likely to use cash for small purchases, and both parties’ followers are more favorably inclined toward cash than political independents. That may have less to do with political inclinations than the fact that independents tend to be younger.

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