More Americans are going cashless.
Fewer consumers say they use cold, hard cash for their regular weekly purchases. A new study by the Pew Research Center found 41% of Americans say they don't use typically use tangible bills. That's up from 29% in 2018. An increase in online shopping is cited as one big reason why. However, paying in cash is not dead, particularly among some are who worried about their privacy.
“I think some people have a good concern here to think about ‘Well, what’s the government doing?’”, economist Vance Ginn explained. “How are they following me?”
Ginn says in a cashless society all your transactions can be easily tracked, which comes with advantages and disadvantages. Financial experts say cash is good for two things: privacy and anonymity. They also recommend Americans carry some cash on them at all times in case of an emergency.
That leads us to the poll question