Question of the Day: How many checks does the average American write each year?
- If you have a checking account, how many checks have you written in the past month?
- What do you think are the most common expenses that people write checks for?
- What do you think the answer to the number of checks would be for the average teenager with a bank account?
- Do you think the answer to this question will change in the next five years? Explain.
Behind the numbers (Federal Reserve Bank of Atlanta):
"U.S. consumers continue to use paper checks. In the second decade of the 21st century, consumers write an average of three checks per month. They are most likely to write checks for purposes and merchants commonly associated with bill payments (utilities, rent, government taxes and fees, and building contractors) and for charitable donations. All things equal, low-income, older consumers are more likely than other groups to use checks."
Check writing is important...but so is learning how to manage an online bank account. NGPF's Online Bank Simulation can help you accomplish that goal with your students.
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