Cash is No Longer King, A Survey of the Shift In Spending Habits

A SHIFT IN SPENDING $100 BIG SPENDER 8888 9966 8888 0678 $100 THE JOURNEY FROM CASH, TO CARD.TO PREPAIDI In the world of monetary transactions... the times they are a'changin. As a society, we are making a mass exodus from cash and relying more and more on the plastic cards in our pockets to purchase things each day. These numbers (from a recently conducted survey of consumers) show the shift is crystal clear: DAY-TO-DAY SPENDING HABITS $100 USE CASH USE CARD USE CHECK BIG SPENDER $100 8888 9966 8888 B678 85% 79% 75% 73% 23% 27% 19% 5% 1% 1% 2% 1% MAJOR PURCHASES HOLIDAY SHOPPING GROCERIES GAS DEPARTMENT STORE REAL ESTATE THE MARKET 96% 68% 53% 37% 31.5% 10% 1% 0.5% BILLS ONLINE SHOPPING MORNING COFFEE TODAY ONLY! 40% CASH IS NO LONGER KING Looking at people's daily spending habits, it is apparent that people only use cash when they have to... 6% ALWAYS USE CASH ...... 37% • •USE CASH SOMEWHAT REGULARLY 53% USE CASH OCCASIONALLY 6% NEVER USE CASH 34% • HAVE A CHECKBOOK 52% 23% 8 ??? OF PEOPLE CARRY LESS CASH THAN THEY DID 3 YEARS AGO OF P.O.S. TRANSACTIONS WILL BE CASH IN JUST 3 YEARS CASH IS INCONVENIET. CARDS ARE CONVENIENT. ONLY. ATM 39% 67% 66% NEWS GUM OF PEOPLE VISIT THE OF PEOPLE HAVE HAD OF ALL IN-PERSON MAGAZINES ATM MORE THAN TO BUY SOMETHING SALES ARE MADE WITH THEY DIDN'T WANT JUST A DEBIT, CREDIT, OR PREPAID CARD ONCE PER MONTH TO GET CASH BACK MUCH FASTER NO MORE CHANGE GIVES INCENTIVE 1¢ 5¢ QUICK SCAN l¢ 5¢ EARN REWARDS! THE RISE OF THE RELOADABLE PREPAID CARD A growing number of Americans are using these as an alternative to debit cards and credit cards. This caution stems from the great recession of 2008-2009, causing people today to be weary of spending money they do not have. 67% 857% HOW ARE PEOPLE USING IT? 15% PREPAID 8888 9966 8888 0678 OF PEOPLE HAVE OFFLINE SPENDING ONLINE SPENDING USED A PREPAID DEBIT CARD * From external source WHY TRANSITION TO PREPAID? NO CREDIT REQUIRED STAY ON BUDGET EASY TO MONITOR MUCH MORE SECURE WEEKLY YOUR FAMILY BUDGET MEMBERS SPENDING HISTORY $100 $100 Nearly half of those who have used prepaid debit cards said their favorite feature was to stay on budget and avoid overdrafting. The method is great for controlling and monitoring your family members spending. Users don't need to have good credit or credit history at all. A prepaid card is as quick and easy as cash, but safer and more secure. KAIKU KAIKU Instant.ly Spending Survey *http://www.huffingtonpost.com/2012/06/07/credit-card-payments-growth_n_1575417.html ------