Read the following passage and mark the letter A, B, C or D on your answer sheet to indicate the option that best fits each of the numbered...

Going Cashless: How Digital Payments Are Changing Our Money Habits

The way people handle money is changing rapidly. According to recent data from Capital One Shopping, nearly half of American adults now make no cash purchases in a typical week. This shift away from physical currency represents one of the most significant changes in personal finance behavior, (18) __________.

Digital payment methods have become the dominant force in modern commerce. Credit cards, mobile wallets like Apple Pay, and online payment platforms (19) __________. The statistics are striking: approximately 87% of all transactions in the United States are now cashless, and projections suggest this figure will reach 94% by 2027. (20) __________, demonstrating how thoroughly digital payments have penetrated daily life.

This transition has created both opportunities and challenges for personal saving. Many financial apps now offer features that automatically round up purchases and transfer spare change into savings accounts, making it easier to build emergency funds without conscious effort. (21) __________. When people cannot see or touch their money, the emotional connection to spending weakens, potentially leading to overspending and reduced savings.

Despite the convenience, concerns about financial inclusion remain significant. Currently, about 4% of American households are unbanked, meaning they rely primarily on cash for transactions. As ATM numbers decline and businesses adopt cashless policies, obtaining physical cash becomes harder for those who need it most, creating a divide between those (22) __________.

[Adapted from https://capitaloneshopping.com/research/cashless-statistics/]

Question 18: 

A. which has been considered as the major reason why individuals save their money

B. for many people who are starting to use digital wallets for their daily expenses

C. with profound implications for how people save and manage their money

D. and this could be the result of the development of modern banking technologies

Question 19: 

A. having provided customers with many options for their online transactions

B. are making it impossible for traditional banks to maintain their physical branches

C. would have offered people a better way to control their monthly budget strictly

D. have made transactions faster and more convenient for the majority of users

Question 20:

A. Young adults aged 35 to 44 use cash for less than 10% of their purchases

B. Most adults over 65 years old still prefer using cash for all of their shopping

C. The number of digital transactions has stayed the same during the last decade

D. People are now encouraged to use cash more often to avoid high transaction fees

Question 21: 

A. For instance, the "cashless effect" is often cited as a major benefit for those wanting to avoid physical contact

B. However, research has identified the "cashless effect" – a psychological tendency to spend more freely

C. Consequently, the digital era has witnessed the rise of a certain "cashless effect" that promotes careful spending

D. Furthermore, financial experts have pointed to the "cashless effect" as a primary reason for better money management

Question 22: 

A. having been used to digital convenience yet excluded from it

B. excluding it and receive the convenience of digital technology

C. being excluded from its convenience and excluded from it

D. who benefit from digital convenience and those excluded by it