A 10-spot, a sawbuck, a Benjamin -- we're talking about money history. We move closer every day to a cashless society, getting our salary by direct deposit, paying bills online, using plastic at the store.
Personal financial expert Jordan Goodman says more people are going cashless, especially young people.
“People get paid electronically,” he points out. “They pay their bills electronically. It's much more convenient.”
“It's certainly more convenient. It means you get robbed less. You can't really be robbed that way,” Goodman says. “Not having your pockets filled with change is a good thing. It doesn't really save you money directly.”
Some bankers say we will likely never quit cash entirely, but people won't be storing their money in "Kerr jars" in the back yard anymore. Researchers say 34 percent of Americans tell them they already rarely use cash.