According to a U.S. Bank survey conducted last year, half of people only carry cash half the time, and among those who do carry cash, nearly 50% carry $20 or less. In another survey done just this year, only 41% of Americans said they regularly carry cash, a number that drops to 34% if you only include Millennials. 16% of respondents had no cash on them at the time they were polled.
- To handle/take advantage of emergencies/opportunities that require cash.
- To pay and tip service providers more generously.
- To tip employees/service providers who aren’t directly involved in customer transactions.
- To discipline your spending habits.
- To protect your privacy.