SAN FRANCISCO — A survey conducted by Visa USA has documented how important a debit card can be in helping consumers get a handle on how they spend their money on smaller consumer items and services.
The survey found that many Americans lose track of up to 1/3 of the money they spend as cash each week, amounting to as much as $2,000 per year.
The researchers found 48% of the Americans surveyed said they cannot account for more than 33% of their cash each week, spending on average $120 and losing track of $45. Men under age 35 were the respondents who reported the worst monitoring, losing track of $3,000 per year.
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