According to a new survey, the progressive shift to digital money is here to stay, with a large proportion of younger people considering that cash money is out of step with the current reality.
For Generation Z, cash is no longer king, but “cringe”. A new Harris Poll survey, commissioned by digital banking platform CashApp, reveals that more than half of Gen Z adults use physical money only as a last resort to pay for goods and services.
The survey, which interviewed 2,080 American adults over the age of 18, found that 53% of Gen Z respondents prefer digital transactions through debit cards or payment applications, rejecting traditional paper notes. Almost a third (29%) admitted that people who pay in cash seem “disconnected from reality”.
Although this attitude may seem superficial, researchers suggest it reflects deeper changes in financial behavior. Unlike older generations, who grew up counting money, Generation Z, born between 1997 and 2012, is digital native and was already raised with smartphones and contactless transactions. For younger people, managing money through apps is not just convenient; It’s a way of maintaining discipline.
More than half of respondents (54%) said it is more likely to spend too much when carrying cash compared to using digital payments. Digital tools, according to them, help us control expenses and stay within the budget more effectively.
Contrary to stereotypes of Gen Z as irresponsible spenders, the survey also portrays a generation focused on financial stability. Around 46% of respondents said they were actively creating emergency reserves, while 39% saved to feel more financially secure.
Savings goals vary widely: 37% are saving for experiences like travel and events, 34% for big purchases like cars, electronics and luxury brands, and 36% are save to reach important milestoneshow to leave your parents’ house, says .
The results highlight a cultural shift in which convenience, control and familiarity with the digital world are shaping the way young people view money. Although it seems to be an inevitability for younger people, there are also concerns about the end of cash, such as difficulties of the elderly the use of technology or the homeless who have no way of buying food in stores that no longer accept cash.
For Gen Z, ditching banknotes isn’t just a trend: it’s a statement of modern financial identity.
