Worried about your money? A growing number of Americans are turning to their smartphones and tablets for immediate relief –and answers.
A study from Quicken, maker of the leading personal finance management software from Intuit Inc. (Nasdaq: INTU), found that people increasingly use smartphones and tablets to manage their money. Of the smartphone users surveyed:
- Two out of three say that being able to check their finances on-the-go gives them peace of mind.
- 15 percent say that they prefer to check their financial accounts on a smartphone or tablet.
- More than half check their financial account balances on their smartphone monthly.
- One in three people admits to losing sleep over money woes.
“Smartphones are part of everyday life; they’re transforming the way people approach their finances,” said Barry Saik, vice president and general manager for Quicken. “Mobile allows people to make quick and informed financial decisions anytime and anywhere, ultimately impacting their bottom line. We’ve seen strong adoption of our mobile apps and the study results confirm that people are turning to their phones to manage their money.”
Smartphones go beyond tracking spending, checking accounts and monitoring budgets. The study found consumers increasingly use them to price compare, with 23 percent of smartphone users saying they wouldn’t make a major purchase if they can’t check their finances from their phone.“One–fourth of Americans spent more than they made and 22 percent are desperate to get their finances on track but don’t know how,” said Saik. “Companion apps from Quicken – for iPhone, iPad, and Android phones and tablets and the Kindle Fire – give people the power of Quicken with tracking in the palm of their hand. With mobile, it’s easier than ever to get on track financially and enjoy peace of mind.”