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Bill Payment Practices of Gen Yers

January 15, 2014 · By Sandy Smith

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Remember when you used to buy envelopes and stamps and then spent time writing out bills, licking and sealing all those envelopes and then mailing them in just to pay a bill? Yeah me neither. It seems like you Generation Y people are taking advantage of the technology available to you to pay your bills as well. According to a survey by Western Union 64% of this age group receive more than half of their bills online. I’m not in that age group but I get 100% of mine online. Why deal with paper when you don’t have to?

When was the last time that you wrote a check? 21% of Gen Yers have never written a check in their lives. Honestly though, I don’t even have a check book for my checking account. Everything goes through the online bill pay with me. Ain’t nobody got time fo’ checks!

Even more impressive, Gen Y is smart with their cash, probably because they’ve got massive student loans. 71% of Gen Yers in the survey planned on cutting unnecessary spending within the next six months. Smart! If you’d like to learn more about how Generation Y handles their money, check out the infographic below. Click to enlarge.

Financial Behaviors of America’s Largest Age Demographic

About the Author

Sandy Smith

I started this blog years ago as a way of keeping myself accountable to my own debt reduction plans. Now I'm using this site to help others get out of debt, and learn about personal finance so that they can live their best lives.