SPRINGFIELD, Mass. (WWLP) – There is no doubt that swiping a card at the register is a little easier than digging through your pockets for cash and change. Even so, many Americans are still choosing to pay the old-fashioned way.
New research from a Federal Reserve office shows 40% of the average person’s monthly transactions are paid for in cash.
Among the reasons that some people pick paper money over plastic: it’s a way to stay accountable- when the money is in their wallet is gone, it’s gone.
“By the end of the day, you figure out: ‘what did I do with all that money?’” June Sousa of Ludlow said. “Credit cards can get you in a lot of trouble. I’ve been there before, and I won’t do it again.”
Others prefer using cash for the peace of mind — to leave less of a digital trail and reduce their risk of personal information getting hacked.