More people choosing cash instead of plastic to help manage household finances during cost of living crisis

Around two in five people are using cash to help themselves budget as living costs increase, according to research among ATM users. Hundreds of thousands of Cardtronics ATM users were asked in June whether they are using cash to help them budget as bills rise.

Some 39.2 per cent of those who responded confirmed that they are, according to the research, carried out for the PA news agency. Customers were also asked whether the money in their account covers their bills and outgoings and nearly two-fifths (39.7%) said that it does not.

Commenting on the findings, Sue Anderson, head of media at charity StepChange said: "Soaring energy bills and rising inflation have pushed household finances to their limit this year, so it's not surprising that more people are using cash to keep a close eye on their spending.”