A recent study shows the use of cash is costing Americans $200 billion.
This translates to roughly $1,700 per household. The study done by Tufts University revealed it might be cheaper for people to use their card because the time spent getting cash adds up.
Researches came up with the results by putting a dollar value on people's time.
Other studies have shown some people can cut spending by 15% by only using cash, but the time spent getting the money can cost you a lot.
Bill Hardekopf is a financial expert. He said, "The average American spends almost half an hour a month traveling to get cash. Time is money and because it takes you about half an hour a month to go get the cash, that ends up costing you quite a bit of money."
Read the full article