Analysis
This infographic revealed that there is a LOT of cash in circulation today! And it’s being USED. It sort of contradicts the articles I’d been reading on how close we are to becoming a cashless society. But think about the birthdays cards from Grandma and the daily allowances from Mom and Dad – those are still pretty physical! While major purchases might have a larger credit and debit buying population, the idea that cash just isn’t being used anymore is an incredible stretch. Even looking at my own cash versus credit usage in the past few weeks, they’re more even than I thought they’d be. There are scenarios where traditionally, cash has and will always be the best option. Think ice cream shops, farmers’ markets, and high school concessions. Should banks begin to go cashless, how will the current cash floating around our country be used? How will people easily make the transition. Even better, how will small businesses make that transition? Should our cash be transferred online, where will the physical bills go? There are a lot of questions that come with this proposition.
Source
Desjardins, J. (2019, March 12). How many U.S. dollar bills are there in circulation?. Visual Capitalist. https://www.visualcapitalist.com/many-u-s-dollar-bills-circulation/
