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Gallup Poll: 30 Percent Say US 'Very Likely' to Become Cashless

Gallup Poll: 30 Percent Say US 'Very Likely' to Become Cashless
(Photo by Richard Levine/Corbis via Getty Images)

By    |   Friday, 15 July 2016 03:37 PM

Most Americans expect physical cash to go away during their lifetime, as the use of credit cards, debit cards, and other electronic payments increases, according to a Gallup poll.
 
Gallup surveyed Americans on June 22 and June 23 about their opinions on cash and the economy.
  • 30 percent thought it was very likely that the U.S. will become a cashless society in the voter's lifetime.
  • 32 percent thought it was likely.
  • 25 percent believed a cashless society was unlikely.
  • 11 percent believed a cashless society was very unlikely.
All ages believed in the possibility of a future without cash, including 58 percent of Americans ages 65 and older, and 63 percent of voters ages 18 to 29.

The poll also asked whether Americans like to have cash in their possession to make payments.
  • 54 percent of all adults said they prefer having cash on them at all times.
  • 42 percent of all adults said they were comfortable not having cash.
Breaking down the results by age showed that older Americans prefer to have cash in their possession.
  • 42 percent of those ages 18 to 29 preferred to have cash on them.
  • 54 percent of those 30 to 49 preferred to have cash on them.
  • 55 percent of those 50 to 64 preferred to have cash on them.
  • 62 percent of those 65 and up preferred to have cash on them.
Poll results also showed that younger people are comfortable without physical cash.
  • 56 percent of those ages 18 to 29 were comfortable without cash.
  • 42 percent of those 30 to 49 were comfortable without cash.
  • 39 percent of those 50 to 64 were comfortable without cash.
  • 32 percent of those 65 and up were comfortable without cash.
Americans continue to be concerned with financial issues, according to an April Gallup poll. The biggest worry appeared to be having enough money for retirement, which concerned 64 percent of those who took the poll.

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Most Americans expect physical cash to go away during their lifetime, as the use of credit cards, debit cards, and other electronic payments increases, according to a Gallup poll.
US, poll, americans, cashless, society
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2016-37-15
Friday, 15 July 2016 03:37 PM
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