Answer: 68 transactions on average

Questions:

• How many payment transactions do you make in a typical month? 
• What are the various ways that you pay for things? List them from most to least popular. 
• How do you keep track of your payment transactions? 
• How do you think the way you pay for things might change as you get older? 

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

Behind the numbers (Federal Reserve Bank of Atlanta):

"In 2020, the average number of total payments reported by consumers for a typical month was 68 payments on average, unchanged from 2019. The number of payments was generally flat from 2015 to 2020. 

Payments comprise bill payments, purchases, and P2P payments. This mean number of payments encompasses quite a bit of variability among individuals, particularly for consumers making larger numbers of payments. The survey data reveal this variability in monthly payments across individuals, especially in the right tail, with some reporting more than twice the mean."

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This NGPF activity PLAY: Payment Decisions, allows students to determine which payment type to use in different scenarios.

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About the Author

Mason Butts

After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.