Most (82 percent) millennials believe society will eventually become cashless, even though they're the generation most likely to favor cash when traveling, according to a TD Bank Consumer Spending Index.
What's more, if their cashless payment method of the future is a credit card, that could be a problem, because millennials lack healthy credit habits. For instance, the study found that among millennials who use credit cards:
"The data is a bit concerning," Mike Kinane, head of U.S. bankcard at TD Bank, said in a press release. "We're relying less and less on cash, and while credit cards may not be a millennial's payment method of choice, it's still critical that they develop financial knowledge and habits to properly position themselves for sound credit health down the road."
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Privacy PolicySeptember 9-11, 2024 | Charlotte, NC