Mar 29, 2022
Question of the Day

Question of the Day: Do consumers send more money on Venmo or spend more money on Amazon?

You might be surprised by the answer. 

Answer: Send more money on Venmo. $304,000 sent every minute on Venmo vs. $283,000 spent on Amazon. 

Questions: 

  • Which payment app, if any, do you use to send money to friends?
  • How many of the companies listed above do you use? Which one do you think you use the most? 
  • Which company do you think will experience the fastest growth over the next five years? 
  • How many of the services listed are free? are subscriptions? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Visual Capitalist): 

With the amount of data and information in the digital universe effectively doubling every two years, it’s fair to say the internet minute has gone through some changes over the years. Here are just some areas that have experienced impressive growth:

  • In 2016, Snapchat users 527k photos per minute, compared to 2 million in 2021
  • In 2017, Twitter saw 452k Tweets per minute, compared to 575k in 2021
  • In 2018, $862,823 was spent online shopping, while 2 million people were shopping per minute in 2021
  • In 2019, 4.5 million videos on YouTube were being viewed every minute, while in 2021 users were streaming 694k hours
  • In 2020, Netflix users streamed 404k hours per minute, growing to 452k hours in 2021

------------------

600+ questions in the NGPF Questions of the Day Library, sorted by unit

------------------

How does social media get us to spend more? Check out this FinCap Friday: Friending then Spending to find out.  

 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

Mail Icon

Subscribe to the blog

Get Question of the Day, FinCap Friday, and the latest updates from NGPF in your inbox by subscribing today: