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Pymnts

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Daily Budget App Adoption Stalls at 14%

  • 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.

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