What’s in your wallet?

A couple of interesting charts from the Fed’s Triennial Payments Study…

If you’re like most Americans, there both debit and credit cards in your wallet …. both debit and credit card usage is increasing … with debit card usage increasing by leaps and bounds..

 

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That said, cash is still king …

You pay cash most often – 40% of the time – and pull out a debit card 66% more often then you slap down a credit card.

 

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The trend toward debit cards and cash is reflected in the decreasing amount of credit card debt outstanding … down about 25% from the pre-financial crisis high water mark.

 

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#HomaFiles

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