A recent poll of Americans by CreditCards.com found that those between the ages of 18 and 29 hate cash so much that 51% of them will use plastic, even for purchases amounting to less than $5.
The older you are, the likelier you are to whip out cash, rather than a debit card or credit card, the study found. Seventy-seven percent of Americans 50 or older prefer cash for purchases of under $5. Republicans and Democrats are equally likely to use cash for small purchases, and both parties’ followers are more favorably inclined toward cash than political independents. That may have less to do with political inclinations than the fact that independents tend to be younger. When it comes to choosing plastic, under-30 Americans who have credit cards prefer debit over credit by a ratio of 3 to 1. Cardholders of all ages prefer debit over credit by a 2-to-1 margin, CreditCards.com says.