Millennials Lead the Way Leveraging Technology to Manage Day-to-Day
technology to help with their personal finance needs, but most (60%)
use it to simplify and automate financial tasks such as banking and
bill payment, according to a recent survey conducted by Northwestern
Mutual's financial literacy website, TheMint.org.
Among those using technology for daily finances, Millennials lead the
way, with 62% using online banking or automated bill payment, versus
60% of Generation X and less than half (37%) of those aged 60 or
"Technology is helping Americans get a better handle on their
day-to-day finances, especially when it comes to routine tasks such as
banking and bill payment," says
Northwestern Mutual. "It also provides exciting opportunities for
individuals to learn the basic foundations and best practices for
personal financial planning."
In other findings:
— The use of personal finance software is highest among those age 60
or older (12%) versus 2% or less for the other age groups.
— Among individuals who use technology for money-related tasks, 40%
use it on a daily basis and 41% use it at least once a week.
"Since April is Financial Literacy Month, we want to remind people to
be hands on with their finances and use various tools and resources to
learn more," says DiCastri.
Northwestern Mutual has a number of free tools and resources for
individuals – covering topics including budgeting, saving, investing,
and planning for every life stage.
About TheMint.org Poll From
to TheMint.org were invited to answer questions about their technology
habits related to their personal finances. 955 respondents nationwide
provided insight, and the results were then analyzed based on
demographic factors including age and gender. This poll is part of an
ongoing series of polls from TheMint.org. Poll results are archived on
the site and can be viewed at http://www.themint.org/polls.
variety of fun and educational resources to explore every day money
concepts such as spending, saving and budgeting. TheMint.org is
consistently updated with timely tips and tools, such as the new Just
for Moms section and the monthly blog on a range of relevant topics.
About Northwestern Mutual Northwestern Mutual is the marketing name</p>
its subsidiaries. Northwestern mutual is among the "World's Most
Admired" life insurance companies in 2013 according to FORTUNE
magazine and has helped clients achieve financial security for more
than 156 years.
As a mutual company with
force, Northwestern Mutual has no shareholders. The company focuses
solely and directly on its clients and seeks to deliver consistent and
dependable value to them over time.
Northwestern Mutual and its subsidiaries offer a holistic approach to
financial security solutions including: life insurance, long-term care
insurance, disability income insurance, annuities, investment
products, and advisory products and services. Subsidiaries include
registered investment adviser, member FINRA and
SOURCE Northwestern Mutual
/CONTACT: Northwestern Mutual Media Relations, +1-800-323-7033, email@example.com
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/Web Site: http://www.northwesternmutual.com
CO: Northwestern Mutual
IN: CPR ITE FIN STW INS WEB
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