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.
Recommended For You
"It's understandable that consumers would lose track of some cash over the course of a week, but we were surprised by how much cash goes unaccounted for at the end of a week–a dollar here and a dollar there definitely adds up," said Wayne Best, Visa's chief economist. "On the bright side, the survey found that people believe plastic can help them manage their money. Four out of five debit cardholders said that using a debit card helps them track their spending."
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
