Brits prefer plastic, poll finds

Those who regularly pay cash into their accounts with the best savings interest rates may be a dying breed, it has been revealed.

A new study by Barclaycard has found that half of Brits believe that cash and coins will become obsolete in the future, with over one in eight admitting that they never carry cash.

The average balance of a British purse or wallet is now just £23 pounds and half of Brits refuse to carry one and two-penny coins, with some even throwing the bronze away.

"Although we are far from becoming a 'cashless society', it's clear from our research that cash is no longer king. Consumers are increasingly less willing to carry large amounts of change around with them and many believe that coins will become obsolete in the future," said Dan Wass, head of current accounts and contactless at Barclays.

David Rodger, managing director of the Debt Advice Foundation, said that the current attitude to savings and credit has become ingrained.

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2011-08-03 17:01:59 © Moneyextra.com