Young People are Reviving Cash Donations
Dec 6, 2023
A quarter of charity donations this year were made using cash, with young people the most likely demographic to give banknotes and coins, and less likely than average to use direct debits or standing orders.
Research published by the Charities Aid Foundation, which operates in the UK, US and Canada, found the percentage of cash donations is up from 22 percent in 2022 and an all-time low of 13 percent in 2021, with younger age groups at the forefront of the increase.
A quarter of people who give to charity use cash… Those who [did so] didn’t always seek alternative ways to give, so as charities struggle with increased costs, higher demand and squeezed donors, it’s welcome to see a return of what is a significant source of donations for some.
16–24-year-olds were the most likely to give cash, and are considered a particularly important demographic with regards to encouraging charitable donations.
Even though they are usually considered a digital-first generation, 16–24-year-olds are significantly more likely than any other age group to donate to charity using cash… Far fewer young people donate to charities compared to older age groups… We need to foster a culture of widespread giving to support charities over the long-term.
Reporting on the research, Independent journalist Vicky Shaw suggests ‘cost-of-living concerns may be encouraging some people to rely more on cash to help them stick to a budget.’ This aligns with an ongoing trend of younger generations employing physical money as the foundation of a budgeting system that sorts expenses into categories, helping people manage their money and, where possible, save towards future goals.