When it comes to money management, there’s room for improvement

Managing personal finances can give consumers a run for their money. New Fiserv research shows people want moving and managing money to be easier, secure and in step with the way they live – and they’re likely looking to their financial organizations for help.

Expectations & Experiences: Household Finances, the most recent quarterly consumer trends survey by Fiserv, found 30 percent of consumers consider managing money to be a burden – and of them, 47 percent say “it reminds me of my financial troubles.” The survey, conducted by Harris Poll among 3,081 banking consumers in the U.S., highlights consumer behaviors and trends that can inform financial organizations’ strategies and priorities.

Finances Remain a Concern for Many

If you had to, could you pay back a $500 loan today? If not, you’re in good company. Thirty-eight percent of consumers – and half of millennials – say that would be difficult or impossible. No wonder just 37 percent of consumers say they’re satisfied with their financial health, well behind their satisfaction with other areas of their lives.

 

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