Euro Area: the Surprising Use of Cash by Young Adults

Despite predictions of a cashless society, cash remains vital across all age groups. New ECB research reveals older adults prefer cash for transactions, but young adults pay with cash at roughly the average rate and keep cash reserves. The perceived importance of cash is rising for all!

Cash continues to hold a significant place in the financial behaviours of various demographic groups. A new article by Rebecca Clipal and Alejandro ZamoraPérez, published in the ECB Economic Bulletin explores the nuanced role of cash across different age groups, highlighting how older adults, young adults, and the general population perceive and utilize cash in their daily lives.

Older adults: the steadfast users of cash 

The research confirms the continued preference for cash among older adults.