20% never carry cash, younger people leading the way

July 27, 2023

Younger people are leading the way when it comes to cashless living, with half of 18-24 year olds saying they never carry money.

New figures from Royal London Ireland, a life insurance and pensions company, show that in total, 20% of people in Ireland never carry cash.

Those over the age of 55 were less likely to go cashless, with 90% of this age group still carrying cash.

Of those who do carry cash, 30% have €20 or less in their wallets.

The data reveals that 24% of men don’t carry cash, compared to 16% of women.

However, of those who do carry cash, men tend to carry more than women.

“We’ve seen an increase in cashless payments in Ireland in recent years, so the numbers of people who carry very little cash, or any at all, is unsurprising,” said Barry McCutcheon, Proposition Lead at Royal London Ireland.

“Despite the increasingly digital nature of Irish banking and payment systems in recent years, we can see from the survey findings that cash still plays an important role in Ireland’s society and economy, with many people relying on it when going about their day-to-day routines,” he added.

Almost 60% of respondents said they use cash to pay for small daily grocery items such as milk and bread, while 34% use cash to buy their lunch or take-away coffee or tea.

Meanwhile, 32% said they use cash to give tips, while 27% use cash to donate to a charity.

The findings also show that those in Leinster are the least likely to carry cash when compared to other parts of the country.

Article Source: 20% never carry cash, younger people leading the way – Gill Stedman – RTE

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