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<table border="0" width="575" height="25"><tr><td colspan=2><H2>MANAGING YOUR MONEY </H2><br><h2><P>Why Going Cashless Makes Sense: Five Signs That Plastic Is Now More Preferred<P><P><P> </h2></td></tr><tr><td>(NAPSI)-If your wallet is thinner, you're not alone. Thanks to the convenience, speed and security of payment cards, more Americans are lightening their load by simply carrying credit and debit cards instead of cash and checks. In fact, according to the Federal Reserve System, usage of electronic payments in the United States grew fivefold from 1979 to 2000, and just five years ago, the System reported that electronic payments first surpassed the usage of checks. Not only do major retailers, national and local governments and transportation organizations all accept plastic but so do your neighborhood corner store, taxi cabs and even vending machines. So what's driving the move from paper to plastic? <P> Here are five tell-tale signs that preference for plastic has been on the rise:<P> • Debit on the Rise. Debit cards have been around since the 1970s, but they didn't hit mainstream until the 1990s. Today, more than three-quarters of adults in the U.S. have a debit card, according to The Nilson Report, a leading industry publication. Consumer demand has only helped increase their acceptance at places where cash was once king, including fast-food joints, movie theaters and dry cleaners. According to the Federal Reserve, debit cards now surpass credit cards as the most frequently used electronic payment type. <P> • Gen P Is Key. Generation Plastic, "Gen P" for short, is the generation of 18-to-35-year-olds who have grown up with cash and plastic, leaving checks to the older generation. According to Visa research, the majority of Gen P consumers (76 percent) surveyed never leave home without a payment card. One in four says they don't typically carry cash, citing the convenience (78 percent), speed (42 percent) and security (35 percent) of their payments cards as the reason. <P> • Planes, Trains and Automobiles. More Americans on the go means greater demand for more efficient ways to pay, and the transportation business-from airlines to meter maids-is taking note. Eight major airlines now accept only plastic for onboard purchases while parking meters in many major cities throughout the U.S. take cards to save consumers the trouble of carrying change. Such moves are saving money. In Texas, for example, the Central Texas Regional Mobility Authority says it expects to save about $1 million a year by eliminating cash collection. <P> • State Governments See the Benefits of Plastic. It's not only consumers who see the value of plastic; the government does, too. More than 35 states are saving millions of taxpayer dollars by using Visa prepaid cards in place of checks to disburse child care, unemployment, and other social benefits to their citizens. Consumers can even opt to get their Social Security benefits in the form of a prepaid card. <P> • Mystery Spending Can Make Budgeting Difficult. Payment cards are an effective way for consumers to have visibility into their spending. A nationwide survey of U.S. adults conducted by Visa found that almost half of respondents suffer from "mystery spending," or cash they spend but have no idea where it went. Mystery spending makes budgeting difficult, but with credit and debit cards, consumers can view their spending at a glance and prepare a budget to spend wisely.<P><P><P><P>Today, more than three-quarters of adults in the U.S. have a debit card. Consumer demand has only helped increase their acceptance.<P><P> </td><td width="100" valign="top"><a href="http://www.napsnet.com/articles/59136.gif"><img src="http://www.napsnet.com/articles/59136.gif"></a><br><a href="http://www.napsnet.com/pub/59136.zip">Download high-resolution, print_quality graphic and MS Word document</a><HR><BR><b>Word Count: 543</td></tr></table>