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Cash Still King: 83% of US Adults Use It Monthly

9/25/2025

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Summary

Story summary

Cash remains essential despite digital payments; 83% of US adults use cash monthly, with older adults driving usage.
Cash is preferred for small purchases and emergencies, and many households keep cash at home for outages.
Global push toward cashless economies meets public resistance; the Federal Reserve notes cash remains important in rural areas and among older populations.

History

Historical Context

The introduction of the first ATM in the United States in 1966 transformed banking access, yet by 2023, 83% of US adults still used cash monthly, particularly among older generations. This enduring reliance on cash, especially in rural areas, reflects resistance to the global shift towards cashless economies, highlighting challenges for policymakers advocating for digital financial transitions.

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Story summary

Cash remains essential despite digital payments; 83% of US adults use cash monthly, with older adults driving usage.
Cash is preferred for small purchases and emergencies, and many households keep cash at home for outages.
Global push toward cashless economies meets public resistance; the Federal Reserve notes cash remains important in rural areas and among older populations.

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