Cash is still king, sort of
A peek inside our wallets by the Federal Reserve Bank of San Francisco.
They did a study on how we spend money. Not on what do we spend money, but literally how does it get spent: Cash? Credit?
Here's how it breaks down:
By absolute number of transactions: Cash is king at 40 percent.
But once you take the value of transactions into account, it's a whole different ballgame.
The average value of a cash transaction is only $21, compared with $168 for checks and $44 bucks for debit cards.