Bill Payment Practices of Gen Yers

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

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11 thoughts on “Bill Payment Practices of Gen Yers

  • We write checks for tithing and sometimes for people-to-people money transfers (i.e. reimbursing my dad for something that he bought for us), but other than that everything is electronic.

    My MIL, on the other hand, writes checks for everything except gas I think!

  • I actually still write out a check every month for our apartment rent. They don’t have a website or any means of paying the rent online. You can pay through the phone with a credit card but they charge a hefty $35 fee for that privaledge. So every month comes around and I drop off a check for them. It was definitely odd to get back into the habit of using my checkbook but now that I’m in a routine it’s no different than hoping online to pay my bills.

  • I use bill pay on my phone and computer, mostly on my computer. I still have checks because I have to pay the horses board and I used to mail off a truck payment via check and I have a doctor that only accepts checks or cash. And then there’s the hay guy. So, I generally write 2 to 3 checks per month. A box will last several years. I don’t even carry the checkbook often because it’s so unnecessary.

    I still chuckle at the folks holding up the line writing a check.

  • Don’t you just love how convenient today has become? I don’t know about the rest but I sure would prefer transacting online. Although I do am frugal generally, having thick cash (for bills) lingering in my wallet still cause me to worry at times, like what if I unknowingly take out a few papers for lunch? or grocery? or worse, get mugged???

  • We pay our landlord through a bank account too. We hardly use checks too. At this point, we only write checks when giving at church (this is our choice, though). I am always surprised when someone pulls out a check book at the grocery store.

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