Gen Z is about to kill cash

| Retail Dive

 

Using their phones to pay more and more.

I have the apps but haven't had the opportunity to try it.

I never use cash. Debit card, credit card, Apple Pay, and Venmo for roughly 95% of my purchases.

I use cash for everything. Other than gas. I use my debit card for that.

 

Haven't even had a CC in my wallet in over a year.

Im still a cash person for any purchase under $100.00 or so.

I'm GenX, and I very rarely ever use or carry cash. I use credit cards for everything and pay the bill once a week. I have 3 different cards I use depending on the rewards I get (miles, cash back, or points) based on whichever card gives me bonus points for the category I'm spending. It's easier to budget and figure out exactly where I'm spending (and overspending). The transactions load automatically (and coded) into my personal accounting software, which then loads directly into my tax software which makes doing taxes a breeze. Doing everything electronically greatly simplifies my life. Plus if I lose my wallet, its easier to replace a card, while you'll never replace the cash. I have had some cash I've been carrying as of late because I won a couple hundred at the casino a few weeks ago, and never went to the bank to deposit it. Otherwise, I'll go weeks at time without ever having even a few singles in my wallet.

I use a credit card almost exclusively unless its under $10. I collect the points and pay off the card monthly.

I also carry a stack of cash with me, just in case.

I wish they'd let me use a card reader at GABP.

I use cash for everything. Other than gas. I use my debit card for that.

 

Haven't even had a CC in my wallet in over a year.

 

I still have a credit card that I use maybe 4 or 5 times a year, but other than that, it's call cash all the time.

I use a credit card almost exclusively unless its under $10. I collect the points and pay off the card monthly.

I also carry a stack of cash with me, just in case.

 

This basically describes exactly my experience, aside from the $10 limit - I'll pay for pretty much anything that allows it with a card. Pay it off, collect points/cash back, rinse, repeat. I'm not into Venmo or anything like that, so for paying people back I still will do cash, but that's one of the only areas I'm still using cash primarily.

I still have a credit card that I use maybe 4 or 5 times a year, but other than that, it's call cash all the time.

 

Randy Parker = Randy Moss

Randy Parker = Randy Moss

 

My kids range from 22-30 years old, none of them carry cash even when driving home which can be up to over 200 miles one way. Drives me nuts.

Credit Card for everything and pay it off monthly. I have gotten 2 free flights in the last year from doing this and have enough miles saved up for a couple more trips. I just don't understand how a fiscally responsible person doesn't take advantage of the benefits of a credit card.

Credit Card for everything and pay it off monthly. I have gotten 2 free flights in the last year from doing this and have enough miles saved up for a couple more trips. I just don't understand how a fiscally responsible person doesn't take advantage of the benefits of a credit card.

 

For me, it's because on average you spend an extra 12-15% when you use one as opposed to cash.