Cash makes a comeback as nearly half of all households use more coins and notes now than they did last year

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Nearly half of all households are using more cash now than they did last year, as coins and notes make a comeback.

Soaring costs have triggered a higher use of cash, with many resorting to it as a way of keeping track of spending, according to a study by Credit Karma.

Youngsters have increased their cash usage more than older generations, as almost two-thirds of 18 to 34-year- olds say they use cash more now than 12 months ago. 

In demand: Soaring costs have triggered a higher use of cash, with many resorting to it as a way of keeping track on spending, according to a study by Credit Karma

Meanwhile, nearly half of those aged 45 to 54 say they are using more physical money, compared with a third of over-55s.

This is because older generations were already using cash more than their younger counterparts.

More than one in five younger people say they feel more in control of their finances when they use cash, while others say they use it to avoid building up debt or credit card fees.

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