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Some stereotypes die hard.
Ultimately, the survey found that 27% of respondents carry cash with them every day.
Is it just a force of habit?
An old muscle memory?
There are actually some really good reasons that Baby Boomers prefer cash, and maybe you should too.
By using cash, older Americans have a clear sense of what theyre spending.
You had $100 in your wallet, and now you have $80.
So, you have to ask yourself: Is what youre buying really worth watching your wallet get thinner?
They also dont want to worry about finding theright bank branchto withdraw cash without incurring extra fees.
That said, there are times when its safer and less cumbersome to carry plastic instead of cash.
For example,Capital Ones360 Checking Account offers access to over 70,000 ATMs, upping the convenience factor considerably.
And really, who can blame them?
Baby Boomers are kickin it with cash these days, and for good reason.
They appreciate itsstability, convenience, and valueas a budgeting tool.
While cash offers many benefits, finding a balance between liquidity and long-term financial growth is key.
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