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2 in 5 carry less than $20 cash every day, survey finds

Monday - 5/12/2014, 9:47am  ET

bankrate survey (Courtesy Bankrate.com)
Here's how much cash people say they carry on a daily basis. Click on the graphic for a larger version. (Courtesy Bankrate.com)

WASHINGTON -- The days of carrying cash in your wallet appear to be disappearing.

A new Bankrate.com survey finds eight of out 10 people carry less than $50 with them every day, and two in five carry less than $20.

About 9 percent say they don't carry cash at all.

People use cash to buy things worth less than $10 and for gifts.

Cash isn't completely disappearing, but people are are relying more on debit and credit cards.

While the amount of cash people carry is consistent across all age groups, 77 percent of women carry $50 or less, compared with 61 percent of men.

Asked about their debt compared to a year ago, men were more likely to say they were comfortable with their debt. Overall, 50 percent said their debts were about the same during that time.

The survey conducted by Princeton Survey Research Associates International talked with 1,002 people on landline phones and cellphones from May 1 to May 4. The survey has a margin of error of 3.5 percent.

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Tags: cashbankrate.com