The latest Western Union Money Mindset Index finds that now, more than ever before, consumers want control of their budgets. They are using a variety of bill payment strategies as a means to accomplish this; from prioritizing which bills get paid first to adopting walk-in/urgent payment, web and social media payment channels.
Survey Findings
37 percent of consumers are prioritizing which bills get paid first.
33 percent of consumers are only making the minimum payment on bills.
20 percent are paying “more” bills after the due date.
13 percent have defaulted on one or more bills.
12 percent are using “same day payment” options more often. Rent, mortgage, primary credit card and tuition are most likely paid via “same day payment.”
Gen Y, ages 18 to 34, is more likely to pay bills using “same day payment” than the average consumer. 44 percent repo