A new report highlights that advanced budgeting tools could help alleviate financial stress among Americans but are underused.
The PYMNTS Intelligence Paycheck-to-Paycheck Index reached 68.4% in May, with 24.2% of consumers struggling to pay bills for the third consecutive month.
53% of consumers using advanced budgeting tools feel financially comfortable, compared to 12% using basic tools and a low percentage of non-budgeters.
Despite the effectiveness of daily budget reminders in improving financial sentiment, only 14% of consumers opt for daily reminders, indicating underutilization of these tools.