Cash Is Still King for Youth But Contactless Is Making Waves

A recent study by Student Edge shows that cash continues to be king for youth, with almost 60 per cent of responders citing cash as their most frequently used payment method.

This is despite more than 80 per cent of their income being deposited into a bank account owned either by them or their parents.

While cash was the undisputed champion, a surprisingly high 28 per cent stated they had used contactless payment within the last seven days.

When asked what their number one saving goal was, the majority of members answered with, 'a car'. This was followed by 'further education' and then 'saving for a holiday'.

Given that so many young Australians are apparently thinking ahead, with responsible goals, the future looks bright.

Photo: Pixabay.