How digital tools can help you manage your money


Since the start of the pandemic, many consumers have opted to bank digitally to manage their finances safely and conveniently from anywhere. In fact, a recent survey by Chase found that 54% of consumers said that they have been banking more digitally due to the pandemic.

Among the many features available today, fraud alerts, electronic bill payments and mobile check deposits have become leading consumer favorites when banking online or by phone. If you thought that this trend was only limited to younger generations, you’d be wrong. Since March 2020, over half of Chase’s new digitally active customers are over the age of 50.

“The pandemic has demonstrated that digital banking is essential for consumers of all ages to confidently manage their finances,” said Allison Beer, head of Digital at Chase. “This new research reaffirms our commitment to creating features that make it easier and faster for customers to bank digitally.”

Here are a few ways you can make the most of your bank’s mobile app.

Keep a close eye on your spending 

Curious to know how you’re spending your money each month? Do you know what you spend on food delivery, groceries, subscriptions? You can take advantage of features within mobile banking apps to help you easily track your expenses.

While there are many apps out there that can do this, it’s likely your bank offers a free and easy-to-use app as well. You can also set up account alerts to know when you get paid or make a transaction with your debit or credit card.

Some banks, like Chase, even include personalized dashboards in their apps to give customers an easy-to-digest overview of their transactions and financial trends. This can help you better understand how you are doing financially and help you with your spending and savings goals.

Prep for a rainy day

Setting money aside in your savings account can be important for your overall financial health, and may help you recover from any emergency expenses. If your bank offers it, set-up automatic transfers to your savings account each time you get a paycheck. All you have to do is set it and forget it to get started on your savings goals.

For example, Chase Autosave allows you to choose an amount that both makes sense for your monthly budget and helps you accumulate a “rainy day fund” over time. According to Chase’s survey, 84% of their customers who use Autosave plan to continue doing so as part of their savings approach this year. Additionally, 77% of Autosave users said that the feature helps them feel like they are staying on track to meet their savings goals, and 83% said it holds them accountable to reaching them.Make contactless payments safely and securely

This year, more consumers and businesses will be using digital payments as their popularity continues to grow.

COVID-19 has changed people’s attitudes toward cash. In fact, Chase found that 13% of consumers said that they use cash less as a result of the pandemic. Digital payments have become even more popular as they are contactless and make it easier to track finances and send money to friends and family quickly and safely.

For example, peer-to-peer (P2P) payments, like Zelle, are increasingly being used to send money or to split the cost of bills. The survey revealed almost half (45%) of longer-term users are using P2P payments more often than they did a year ago.

To explore digital tools that can help you manage your money from anywhere, visit

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