New research from An Post shows that - surprisingly - 18-24-year-olds are the highest users of cash with 35% of this age group using cash at least once a day.
The research from An Post reveals that despite the growing adoption of digital payments, cash remains a preferred payment method for many consumers.
The nationally representative survey, conducted by Empathy, found that 28% use cash at least once a day, with a further one in ten using it four to six times a week.
An Post said that despite the rise of contactless payments through mobile wallets, those aged 18-24 are the biggest users of cash.
Just 26% of those aged 35-44 use cash on a daily basis, indicating a higher adoption of digital payment methods in this group. Only 2% of respondents claimed to never use cash, an Post said.
The research also show that 44% of respondents use cash most often when buying groceries and small purchases, while 38% use cash most often when gifting to loved ones.
Consumers are using cash most often for tipping in bars and restaurants (37%), tipping hairdressers, barbers or beauticians (30%) or for paying tradespeople, gardeners or cleaners (17%).
Cash is also popular when travelling, with 35% reaching for cash when travelling abroad or in Ireland, while one in five use cash on public transport.
Gifting is the second most common use of cash over card, with 38% choosing to gift cash.
Four out of five 35-44 year olds would gift cash to a child as a present, with two in five adults always gifting cash for a teenager's birthday, and one in five would always gift cash for an adult's birthday.
Meanwhile, cash is considered a safety net for many, with eight in ten adults claiming to always keep cash on them in case of an emergency.
47% of 18-24 year olds also keep up to €40 emergency cash and just one in ten do not keep any emergency cash on them. A quarter of 35-44 year olds go without emergency cash, an Post noted.
Brendan Moran, Director of Distribution at Retail at An Post, said that digital payments continue to rise, this research confirms that cash will remain an important part of the Irish economy.
"Cash offers a range of benefits, from supporting small businesses and facilitating gifting, to helping individuals manage their finances. It's clear that cash continues to play a vital role in our communities," Mr Moran said.
"Amid the challenges of rising living costs, cash can serve as a useful budgeting tool. Our research shows that almost half of adults (44%) believe they would have a better understanding of their spending if they were limited to using cash for a week, and four in ten say they would spend less if they used cash exclusively," he added.
