Young people lead way to cashless society

The moment when cash becomes obsolete seems closer than ever, as people increasingly use debit, check and gift cards. How will it change our lives? Long predicted, and long delayed, the moment when America does finally turn its back on currency and coins now seems nearer than ever. Blame it at least in part on a generation of young people more accustomed to gift cards than $20 bills. As promising as the new era is for some, it also has its costs. It turns out, for instance, that when people get to pay with plastic rather than real bills in quick serve restaurants, they are tempted to buy and eat a lot more. At Wendy's fast food restaurant, for example, that translates into 35 percent more, according to a recent study. Read More...