UNILAD | October 13, 2026
David Kassir, Managing Director of Private Wealth Management at Manna Wealth
Management, was quoted by UNILAD on the end of the 234-year US penny tradition,
explaining how cash rounding to the nearest nickel could affect households that rely
on cash and why small everyday expenses deserve attention.
David Kassir, Managing Director of Private Wealth Management, Manna Wealth Management, said: “Honestly? Losing the penny will not change anyone’s financial life. Not yours, not mine. But it will change what buying things feels like for the people who still use cash.
“Everything gets rounded, probably to the nickel. And rounding is never perfectly fair. Over a year of small purchases, a few cents here and a few cents there start to add up. And who pays cash the most? Lower-income households. They are the ones who feel it first. That is just the reality of it. (e.g., Federal Reserve Diary of Consumer Payment Choice)”
The expert added: “The bigger story is not the penny. It is what the penny’s exit says about cash. Most money already moves through a phone. The penny was the last coin still pretending it was 1985.
“So what should everyday people do? Nothing, really. Watch your receipts if you pay cash. Keep your budget exactly where it is. And do not let a fun headline become a reason to stop paying attention to small numbers. Because here is the truth about budgets: small numbers are where they actually live.” Read More: https://www.unilad.com/news/us-news/donald-trump-pennies-scrapped-affect-wallet-863543-20261013
