New study wave shares key trends about how technology has
impacted investing, saving and payments, particularly among
Millennials
SAN
FRANCISCO, June 18, 2024 /PRNewswire/ -- In a time of
unprecedented economic uncertainty, the latest Logica® Future of
Money Study looks at how Americans across all generations are
navigating complex financial landscapes—and shows how people are
seeking ways to increase their financial stability and find trusted
advice.
The highlight report from the Logica Future of Money Study
uncovers key trends about saving, investing, payments, and personal
money management. It also delves into the role of technology in
people's financial lives. A special focus is given to Millennials
(born from 1981 to 1996), who have historically lagged behind in
reaching traditional financial milestones like homeownership and
retirement savings. The study finds that Millennials, with many now
in their early forties, are actively planning their financial
futures in ways that differ from previous generations.
Some highlights from the findings include:
- Technology's Impact: 29% of Americans believe
technology will significantly impact investing over the next five
years.
- Personal Financial Advice Trends: Despite the rise
of technology, personal financial advice remains a strong
preference, with 63% of Americans looking for help managing their
money.
- The Employer's Role: 91% of Gen Z and 87% of Millennials
share that they feel it is important for employers to offer
programs to help manage finances, a significant increase over the
last wave of the study.
- Millennials Leading in Payment Tech: Millennials are at
the forefront of using payment technologies, with 79% of
Millennials using phones or mobile devices for in-person
purchases.
"This wave of our study showed some significant changes in
American attitudes and future planning and will offer valuable
insights for financial companies to connect with customers and
develop effective strategies for their products and services," said
Lilah Raynor, CEO & Founder of
Logica Research. "Our full report is available through the Insights
Kit with a deep dive into generational profiles, including
Millennials and Gen Z, that will help financial brands succeed in
today's economic environment by responding the right way to
customer needs."
Since 2017, Logica's Future of Money Study has offered brands
trending and historical insights into how people work, spend, save
and invest. The full report, accessible through the Logica Insights
Kit, offers a comprehensive view of generational financial profiles
and trends—including insights into the changing landscape of the
Millennial. The Insights Kit equips financial companies with the
knowledge to shape strategies and create meaningful financial
products that anticipate customer needs.
- Highlights of the new Logica Future of Money Study can be
found here.
- More information about the Logica Future of Money Insights
Kit can be found here.
- Sign up now to receive a webinar of the new study
highlights on June 26th.
About the Logica Future of Money Study
The study
is a twice-yearly research report that offers a detailed 360-degree
snapshot of the current consumer money mindset. It has been running
since 2017 and is conducted among 1,000 U.S. adults and an augment
of 400 older Gen Zers (16-26 years old). This wave was conducted in
April 2024.
Logica Research
Logica Research excels in creating
customized marketing research solutions for complex business
questions. Logica provides financial services companies, fintech
companies, and growing organizations the insights they need for
product development, service enhancements, and communications that
will improve people's financial lives, deepen brand engagement, and
drive business growth. Research that Logica® has conducted for
clients has been published in the largest media outlets in the
world including the New York Times,
The Financial Times, The Wall Street Journal, CNN, Newsweek,
Time, and USA Today.
www.logicaresearch.com
Media Contact: Michelle
Andre, 379280@email4pr.com, 415-577-8634
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SOURCE Logica