While an argument could be made about how different people use money differently, I think a bigger change is in how people pay with money, and how it has advanced throughout the years. For example, my parents rarely use their credit cards to pay for goods, instead preferring to use cash. I, on the other hand, prefer using a card. I think that younger generations are also more open to using technology as a method of payment, like Google Wallet , which enables users to make payments using the Near-Field Communications chip in their smartphone or tablet, or Coin , which stores multiple credit and debit cards on one card that is connected to a smartphone via Bluetooth.
The more people my age I talk to, the more it seems that we prefer using mobile banking applications on our smartphones and tablets, rather than visiting banks in person. In contrast, in talking with people from older generations, it feels like they are more likely to visit the bank and take care of business there, or bank over the phone, and have less trust in the security of the applications. I have found similar parallels with online transactions. I feel completely comfortable using a company like Amazon to make purchases, while many older people prefer going to brick and mortar stores.
However, most of this is based on anecdotal evidence I gathered from talking to my family and friends. A recent study found that 83% of North Americans have shopped online. A different study showed that more people in the 30-49 age group shopped online compared to the 18-29 age group (80% vs. 77%), so I think it’s interesting that multiple studies have found different results than me.
Responses:
Quin Robert
Ellyn Howard
DTC 375: Jesse Pearson 
I definitely agree with your view on generations having less trust in electronic banking or online store purchases and technology in general. My mom, for example, is extremely paranoid about that kind of stuff and religiously checks her bank statements morning and night since downloading the Bank of America mobile banking app. In my blog I also brought up the differences between generations but more based on what they buy as adults in comparison to us as students. It would be interesting to do a study here at WSU with professors in comparison to students trusting technology since WSU in the past several years has transitioned to a technology dependent school with Angel forcing professors to enter grades via Angel and rely on the program for daily lesson plans. In addition, making the rec dependent on a card to enter and other tasks around campus all done with cougar cards or technology in hopes to simplify, I am curious if that would influence the adults on campus to be more accepting/trusting of technology like the students of our generation than those adults off of campus like our parents, etc.
I agree that our generation likes to use online and mobile banking. I use the chase basking mobile app. I’m able to check my funds, transfer money, and find near by banks and ATMs. I’m able to set up alerts for low funds or when I get a deposit/withdrawal over a certain amount. I can even deposit checks from my phone. I just take a picture, fill in the info, and it’s in my account. As a free-lance photographer, I typically get paid for taking photos of people, events, and weddings by check. So being able to easily deposit my check is awesome. However, my dad wouldn’t do that. He thinks it’s sketchy. He’ll go to the bank and do it there.
I also agree that younger people like to shop online more often than in store. However, my dad uses Amazon for so many things. He likes the convenience of two day shipping that he gets with Amazon Prime. I found that pretty interesting to go along with your post.
I agree with your argument about age effecting how we use money. I hardly ever use cash anymore just because of the fact I have to go withdrawal it and can physically see my self using money. When I use my card (which less older people are inclined to do) I don’t see my money being depleted it just goes away. I never see my mom use her debit card she usually always does and takes money out of the bank first which makes no sense to me. You could just pay with the card and skip that whole step, but that is the way she has always done it and will continue to do it.