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.