Question of the Day: What percent of Americans paid a late fee in the last 12 months?

Many consumers are finding it hard to keep up with their bills. A surprising number are fashionably late with their payments!

Answer: 37%

Questions:

• What do you think are the most common bills that Americans pay late fees for? Why?
• What steps can you take to prevent paying bills late and incurring a late fee?
•  Can anything be done once a late fee has been added to your bill? Explain.

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

Behind the numbers (CNBC):

“Many consumers are finding it hard to keep up with their bills.

To that point, 37% of Americans have been charged a late fee on a bill in the last 12 months, according to a new report by NerdWallet.

Credit card late fees were the most common, with 21% of survey respondents incurring at least one. Others had been charged late fees on utility bills, 10%, and rent, 8%. NerdWallet polled 2,061 U.S. adults in early April.

“Late fees are just one consequence of making late payments,” said Sara Rathner, a travel and credit cards expert at NerdWallet.”

————–

Attend NGPF Professional Developments and earn Academy Credits on your own time! Check out NGPF On-Demand modules!

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.