Cash usage drops sharply in U.S., Pew study shows growing cashless trend
A Pew Research Center survey finds that 42% of American adults now avoid cash entirely, up from 24% in 2015, while only 12% rely almost exclusively on cash.
According to a Pew Research Center survey conducted between May 26 and June 1, 2026, 42% of U.S. adults say they never use cash for weekly purchases, marking a 75% increase since 2015. Only 12% now rely almost entirely on cash, a 50% drop from the same year. The move toward cashlessness is strongest among higher-income earners, with 58% of households making $100,000 or more reporting no cash use, while roughly 25% of those earning under $30,000 still use cash for most transactions.
Generational differences are evident: 51% of adults under 30 avoid cash, compared with 33% of those 65 and older. Despite the decline, 46% of Americans still carry bills most of the time, though 26% of cash carriers never actually spend it. The study follows the 2025 discontinuation of the penny after President Trump halted its production, and experts suggest the nickel may be next.
Why it matters
The decline in cash use signals shifting consumer habits that affect banking, retail, and monetary policy.
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