When it comes to Autopay

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autopay2Convenience of autopay for bills, easy shopping with subscription boxes, one-click buying with amazon—it all makes purchasing our commodities and hobbies so much easier within our busy schedules. Sometimes adding on another subscription to a TV show streaming service or spending $0.99 on an extra life to get to the next level in our favorite game doesn’t feel like we are really spending money. Our credit card information is already saved, and with the click of a button we immediately get what we want. In fact, according to a study in the Journal of Experimental Psychology published by the American Psychological Association, Monopoly Money: The Effect of Payment Coupling and Form on Spending Behavior, doctors Priya Raghubir and Joydeep Srivastava found that people are less likely to spend cash as opposed to credit cards. When we see the cash leave our hands, we are immediately aware of how much money we’ve lost. It can create somewhat of a disconnect.

But it’s so convenient, it saves time, and it’s ingrained in our lifestyle. The staff at RGVision Magazine got curious—what type of spending habits does our community have when it comes to one-click buying and auto payments? We created a short survey to gage the answers to this very question.

Conclusions and commonalities:

• Majority have bills set to autopay
• Majority subscribe to entertainment accounts, and majority of that for TV & Movie services.