Β They say cash is king, but it’s being dethroned these days. Β In fact, a new Bankrate.com survey says 1 in 10 of us don’t carry any cash at all. Β Forty percent have less than a $20 on us, and 80 percent never even have fifty bucks on hand.
Cash is still the number one way we pay for things on a daily basis, but it’s because those are little things you pay for with that little bit of cash you carry. Β They make up 40 percent of purchases, but only 14 percent of the value of purchases. Β When you combine things like PayPal, checks, and debit and credit cards, you get the big money: 60 percent of all sales, and 86 percent of the value.
Heck, with a cell phone and one of those doo-hickey that swipes a card, you don’t even need cash to borrow money from a friend. Β Since the future is here in some ways, our Man on the Edge, Robert Wilder, wants to know: is it time to kill off cash?
