Smartphones Answer the Call to Ease Financial Stress
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Intuit Quicken Survey Finds Americans Keeping Money Management in Hand
MOUNTAIN VIEW, Calif. – March 19, 2013 – Worried about your money? A growing number of Americans are turning to their smartphones and tablets for immediate relief -- and answers.
A study from Quicken, maker of the leading personal finance management software from Intuit Inc. (Nasdaq: INTU), found that people increasingly use smartphones and tablets to manage their money. Of the smartphone users surveyed:
- Two out of three say that being able to check their finances on the go gives them peace of mind.
- 15 percent say that they prefer to check their financial accounts on a smartphone or tablet.
- More than half check their financial account balances on their smartphone monthly.
- One in three people admits to losing sleep over money woes.
“Smartphones are part of everyday life; they’re 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’ve seen strong adoption of our mobile apps and the study results confirm that people are turning to their phones to manage their money.”
Smartphones go beyond tracking spending, checking accounts and monitoring budgets. The study found consumers increasingly use them to price compare, with 23 percent of smartphone users saying they wouldn’t make a major purchase if they can’t check their finances from their phone.
“One-fourth of Americans spent more than they made and 22 percent are desperate to get their finances on track but don’t know how,” said Saik. “Companion apps from Quicken -- for iPhone, iPad, and Android phones and tablets and the Kindle Fire -- give people the power of Quicken with tracking in the palm of their hand. With mobile, it’s easier than ever to get on track financially and enjoy peace of mind.”
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.
Founded in 1983, Intuit had annual revenue of $4.15 billion in its fiscal year 2012. The company has approximately 8,500 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.
About the survey
Findings are from an Ipsos Observer poll conducted on Sept. 11-19 on behalf of Quicken. For this survey, a sample of 1,015 Americans from Ipsos’ American online panel was interviewed online. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to census data and to provide results intended to approximate the sample universe.