Nearly two-thirds of the respondents to last week’s caymancompass.com online poll say they carry $50 cash or less on a normal day.
Of the 522 respondents to the one-week poll, the largest segment – 201 people or 38.5 percent – said they normally carried less than $20 cash.
“I usually use my debit card but the bank charges are getting beyond ridiculous,” said one person. “I may just start taking my wages out and paying my bills cash.”
“It’s less to be robbed of,” said another respondent.
“Rarely do I carry cash anymore,” said someone else. “I dislike being hassled on the weekends at the various businesses for donations, raffles, etc.”
Another large segment of respondents – 133 people or 25.5 percent – said they carry between $20 and $50 cash on a normal day, although none left comments explaining why.
Seventy-five people – 14.4 percent – said they normally carried between $51 and $100 cash.
“I spend less when I use cash than debit or credit cards,” said one person.
“Sometimes it’s a little more, but I don’t like carrying too much cash around here on Grand Cayman anymore,” said someone else.
Forty-eight people – 9.2 percent – said they carried between $101 and $200 cash on a normal day, and another 65 people – 12.4 percent – said they normally carried more than $200 cash.
A number of people seemed affronted by the poll question, but participated in the poll and commented nonetheless.
“What a strange question,” said one person.
“I carry a million dollars,” said another person sarcastically. “What a dumb question!”
“I’m surprised that so many people are willing to divulge such personal information (as I am doing but you didn’t give an “other” option),” said someone else.
The results correspond fairly closely with the results of a Bankrate.com telephone survey conducted in the United States in May 2014. That survey indicated that 40 percent of the respondents carried $20 cash or less – compared to 38.5 percent in the caymancompass.com online poll.
An additional 29 percent of the Americans who took the telephone survey carried between $20 and $50 cash, compared to 25.5 percent in the Compass online poll.
However, the online poll showed that significantly more Cayman Islands residents normally carry $100 cash or more than the Americans who participated in the Bankrate.com survey. Only 7 percent of Americans in the survey said they usually carried $100 or more in cash, while 21.6 percent of Cayman Islands residents said they normally carried that much money.
Next week’s poll question
Two years into its four-year term in office, what grade do you give the Progressives-led government? [Explain why in comments]
To participate in this poll, visit www.caymancompass.com starting May 18.