Financial experts warn that a shift away from physical money may be affecting how children understand its value. Digital transactions are now the norm, with many young people using services like Venmo and Apple Pay. A study found that among 18- to 29-year-olds, digital wallets and cards make up a large majority of preferred payment methods.

This change has significant implications, particularly for certain communities. Some financial education instructors argue that the lack of physical interaction with money can hinder a child's ability to appreciate its worth.

Further details on this issue are available, including insights from a certified financial education instructor who specializes in teaching financial literacy.