Americans Look to More Digital Integration in their Money Lives

News provided by

Sep 06, 2018, 07:07 ET

SAN FRANCISCO, Sept. 6, 2018 /PRNewswire/ -- Findings released in the Logica Research (formerly Koski Research) Future of Money Study show that Americans continue to think the area technology will most impact their finances in the next five years is on how they spend money vs how they make it, save it, or invest it. This marks the second consecutive survey wave in which Americans have said technology will have the biggest impact on how they spend money and is up to 36% from just 23% a year prior. Americans tell us that this shift is driven by their increased use of digital payments (led by PayPal).

Millennials are likely to use financial tools

Americans, and especially Millennials, are interested in how technology can provide them with the tools and assistance they need to help them reach their financial goals and manage their spending and saving.

"Americans want help achieving their financial goals, and they look to technology to help them. The key here is to help people manage their money and build wealth by providing the tools that link spending with saving and investing," says Lilah Koski, CEO of Logica Research (formerly Koski Research).

Americans look for tools that allow them to link checking, saving and investing accounts, make automatic deposits to accounts of their choosing, provide notifications on daily spending decisions, give advice to guide decisions, and see what their peers are saving and investing.

About the Future of Money Study

The Logica Research (formerly Koski Research) Future of Money Study is conducted by Logica and is designed to provide insights to organizations to help improve people's financial lives. The results reported here are from the Spring 2018 wave. The study is conducted online among 1,000 U.S. General Population Adults 18 and over. The sample is balanced on gender, income, and age. The study includes an augment sample of 200 older Gen Z (16-19), which is not included in total. Results are not weighted.

About Logica Research

Logica Research creates and delivers customized research designed to help our clients deepen brand engagement, drive awareness and facilitate business growth. Our clients include Fortune 1000 companies and leading marketing and PR agencies.

SOURCE Logica Research