MOUNTAIN VIEW, Calif. A growing number of Americans are turning to their smart phones and tablets for immediate relief from financial stress, according to new research released today.
A study from Quicken, maker of personal finance management software from Intuit, Inc., found people increasingly use smart phones and tablets to manage their money. Of the smart phone users surveyed:
Two out of three say that being able to check their finances on the go gives them peace of mind.
15% say they prefer to check their financial accounts on a smart phone or tablet.
More than half check their financial account balances on their smart phone monthly.
One in three people admits to losing sleep over money woes.
“Smart phones are part of everyday life; they are 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 have seen strong adoption of our mobile apps and the study results confirm that people are turning to their phones to manage their money.”
Quicken said smart phones go beyond tracking spending, checking accounts and monitoring budgets. The study found consumers increasingly use them to price compare, with 23% of smart phone users saying they would not make a major purchase if they cannot check their finances from their phone.
“One-fourth of Americans spent more than they made and 22% are desperate to get their finances on track but do not know how,” said Saik. “With mobile, it is easier than ever to get on track financially and enjoy peace of mind.”
