About 70% of people who use online financial tools and apps say they make them more diligent in tracking their finances, according to the COUNTRY Financial Security Index survey, released Tuesday.
However, the survey found that while more than half of respondents use these kinds of tools, just 46% say regular online access has improved their ability to save.
Rasmussen Reports surveyed more than 3,000 Americans for COUNTRY Financial’s index.
More than one-third of respondents said they used online tools and apps to pay bills, and 26% said they used them to check account balances. While just 3% of respondents said they go online to use budgeting tools or manage investments, 31% said they go online for “all of these functions.”
“It’s great to see a majority of Americans are more aware of their finances thanks to online banking and investment applications,” Joe Buhrmann, manager of financial security support at COUNTRY Financial, said in a statement. “Still, people spend more time online planning their vacations than planning for retirement. Online budgeting tools make it especially easy to always see where you stand, which can help turn your awareness into a benefit on the bottom line.”