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Most US adults go cashless, keeping little cash for emergencies
An analysis cited by Yahoo Finance says 47.8% of American adults make no cash purchases in a typical week, while 87.4% of transactions are cashless nationwide.
Yahoo Finance highlights the shift toward card and digital payments, citing a Capital One analysis that found 47.8% of American adults make no cash purchases in a typical week.
The outlet also points to an estimated 87.4% of transactions in the U.S. being cashless, prompting questions about how much cash consumers should carry.
According to the piece, while carrying cash is not “obsolete” for certain scenarios, it can be vulnerable to theft or loss and does not earn interest unless deposited in a bank, with inflation further eroding purchasing power.
It recommends keeping near-term spending money and emergency savings liquid, such as through federally insured bank accounts like checking or high-yield savings, while tailoring wallet cash to how often a person uses cash and for what expenses.