PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Americans Recognize the Need for Savings But Don’t Plan to Save in 2015

By Ben Jackson
June 26, 2015
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Hand holding smart phone mobile with bitcoin currency symbol

A survey of 2,000 Americans sponsored by Capital Bank found that while people say they like to save and feel better when they do, many are not planning to save more this year.

The survey of 2,000 Americans found that only 54% say they are satisfied with their current financial status, but that one in ten people will not save any money for the rest of 2015. Why not? Twenty-five percent of respondents say they struggle to keep up with their regular financial obligations (e.g., mortgage, car payment, etc.) and more than one in ten say they are living over their budget or spend too freely.

Capital One is working with financial journalist Nicole Lapin to encourage financial literacy and is promoting auto deposits to its online savings accounts as a way to address the savings gap. They are are not alone. Start-ups like Digit have built applications that monitor spending and do automatic transfers as a way to build savings automatically.

As banks look for low-cost deposits and work to retain customers, tools like automatic deposits will become more important. Providers of these deposit plans will need make sure that the money is accessible enough to people that they feel confident the money will be present if they have an emergency or an opportunity and want to access it.


Overview by Ben Jackson, Director, Prepaid Advisory Service at Mercator Advisory Group

Read the full story here

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    digital cards

    Beyond Plastic: Why Digital Cards Are the Future of Credit

    July 8, 2025
    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    July 7, 2025
    Rewire Acquires Imagen, Looking at Prepaid Cards for Migrant Workers

    Smells Like Team Spirit: What Makes Cobranded Credit Cards Work

    July 3, 2025
    uk banking outages

    New Continuous Strategies for Battling Account Takeovers

    July 2, 2025
    Fraud Monitoring

    What to Expect When Nacha’s Fraud Monitoring Rules Take Effect

    July 1, 2025
    payments

    Don’t Just React to What’s Next in Payments—Anticipate It

    June 30, 2025
    consumer debit

    As Payment Types Proliferate, Debit Cards Still Go Strong

    June 26, 2025
    Embedded Payments

    How Embedded Payments Is Optimizing the Expense Management Process

    June 25, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result