How much cash do you carry? - ABC 33/40 - Birmingham News, Weather, Sports

How much cash do you carry?

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How much cash do you carry on a daily basis?  A new survey shows about 78% of Americans carry less than $50 in cash daily.  About 49% of us carry less than $20 a day.  Add to that about 9% who don't carry any cash at all.
Bankrate.com commissioned the survey.
"If we move to a truly cashless society, it won't be much of an adjustment for most Americans," said Greg McBride, CFA, Bankrate.com's chief financial analyst. "The vast majority of Americans carry $50 or less on a daily basis, which seems to indicate that it's more out of necessity than a desire to pay with cash.
Here are some other findings: 
  • 86% of women carry less than $50 on a daily basis, compared to only 70% of men. 
  • The results were fairly even across age groups, income levels and educational attainment.
  • Feelings on job security turned negative for the first time since November 2013, as Americans were apparently unswayed by the strong April jobs report.
  • The percentage of American workers feeling more secure in their jobs now than one year ago declined from 24% in April to 18% in May.
  • Savings, consistently a sore spot of financial security, declined further with those feeling less comfortable with their savings outnumbering those who are more comfortable by a two-to-one margin.
  • May is the second month in a row -- and just the fourth month in the past year -- that Americans are less comfortable with their debt than one year prior.
  • Net worth is now the strongest component of financial security, with just one in six Americans reporting a lower net worth than one year ago.
  • "With rising home prices and stock markets near record highs, it's not surprising to see that net worth is the strongest component of Americans' financial security," said McBride.
  • Americans are neutral regarding their overall financial situations. 25% say they're better off than one year ago, 25% say they are worse off and the remaining 50% say they are about the same.
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