When it comes to how Americans prefer to spend their money, cash is actually not king. A 2023 study conducted by the Federal Reserve showed that the credit card was the most preferred payment method for US consumers, making up 31% of all payments. Next was the debit card at 29%, then cash at third, making up 18% of all transactions. That represents a consistent decline in cash payments since the pandemic in 2020, which saw many shifts in consumer behavior, including an acceleration of online shopping. Expand article logo Continue reading In 2019, 26% of payments were made with cash. The following year, the study ... (full story)