VIDEO: How Much Money Do You Have In Your Pocket, And Why?!
Published
A recent study by Bankrate.com revealed that 80% of Americans carry less than $50 in cash at any given time. The majority of respondents said they carry less than $20!
In this brief — yet lively — video, our experts reveal how close we are to a cashless society, and the pros and cons of ditching the bills.
What about you, readers? Do you still carry cash, or do you prefer using cards for everything? Which method do you think is safer? Tell us your opinion in the comments below!
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DealNews Contributing Writer
Dan Leadbetter was a Staff and Features Writer for DealNews. He enjoys comedy, playing drums, watching horror films, fine cigars, and Absinthe.
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But one thing is for sure and is a constant to handling my credit card bills...
I pay ALL in FULL, EVERY MONTH!! (Interest charges are taboo to me).
Sometimes I get confused whether I am actually earning 'actual money' or 'digital numbers'...
I typically use my card because I get the cash-back, even if it's 1%, it's still coming back to me. I carry cash for going out with friends and making sure I don't overspend or have to open a tab at a bar. I also use cash to pay the tips at restaurants so I don't have to leave the tip on my card, it feels like my monthly statements are lower when I don't have a months worth of tips on there.
As a college grad, getting any cash back helps, especially when I can use that little bit to chip away at my debt.
But then again I have to carry between $50-$100 since some restaurants or activities only take cash...and when you're out with the girlfriend its x2. :(