A survey of 2,000 adults revealed that Gen Z is the most inclined to use slang terms to describe money, with 58% adopting new phrases, compared to a mere 19% of Boomers. The term ‘cash’ is a favourite among Boomers, while Gen Z also opts for ‘paper’ highlighting the generational differences in financial lingo.

Traditional phrases such as ‘lolly’ ‘shekels’ and ‘folding green’ are frequently used by those over 65, but are rarely recognised by Gen Z or Millennials. Conversely, terms like ‘stacks’ and ‘P’s’ are more popular among the younger crowd.

Ross Borkett, banking director at Post Office, which commissioned the research said: “Money, how we talk about it and how we use it, has always been a unique part of British culture. Such a wide range of phrases are being used for money, showing how entrenched cash still is within our society.

“Whether you need money to pay the window cleaner or own a local shop and need to deposit your daily takings, we believe cash matters, and it seems so does the public.”

Despite the rise of cashless payments, 71% of Brits believe the demise of cash is not inevitable, with 82% asserting its importance as a readily available option.

The study also revealed that regional differences play a role in our money-related slang. For instance, ‘dosh’ is a favourite term in the North East, while ‘bread’ is commonly used in the South East. In Northern Ireland, however, ‘bank’ and ‘moolah’ are the go-to phrases.

This linguistic diversity has led to over a quarter (27%) of Brits encountering unfamiliar cash terms when travelling within the UK.

Dr Lynn Robson, a lecturer in English Literature at Oxford University, commented: “As money has evolved from shells and coins to plastic and digital forms, so too has the language we use to describe it.

“Despite the changes in how we pay for things, ‘cash’ – which has been used in our language for over 500 years – is still the most popular word for money. When it comes to the language of money, there are many cultural influences that can move phrases from the margins to mainstream culture.

“For example, sayings like ‘loot’ are infiltrating conversations due to the popularity of games like Minecraft, but it is still those closest to us which have the greatest impact on our language.”