According to data from the U.S. Bureau of Labor Statistics (2019), food costs represent about 13% of the average household’s annual expenditures. Food spending continues to increase during the pandemic, and the data shows some distinct patterns among different generations during this period.
My family had been waiting to see the movie, Onward since we saw the first trailer in 2019. One of the local theaters is about a mile from our house, and we love to walk (when the weather permits) or take a short drive to see some of our favorite new movies. Since we couldn’t go to the theater when it was released, we were happy it was available to stream. Each year, we go through the motions of subscribing to or canceling streaming services based on changes to the service or the time of year when our favorite shows are available.
In August 2019, I wrote about transferring money to loved ones safely domestically and internationally through banks and financial companies on my Fearless Financial Future blog. I received a reader’s request to write about some of the other ways consumers are repaying each other or transferring money using mobile devices. In this article, I explore the relationship between banking and technology by focusing on peer-to-peer (P2P) mobile payment apps.