A Third of Americans Would Rather Change a Diaper Than Deal with Their Finances
April 02 2019 - 9:01AM
Business Wire
Marcus by Goldman Sachs® reveals the lengths
people will go to avoid their finances & releases five tips
that show “You Can Money”
April is Financial Literacy Month, but according to a recent
survey from Marcus by Goldman Sachs®1, some Americans would rather
do almost anything than deal with their finances, including washing
the dishes (51 percent), going to the doctor (36 percent) and
giving up dessert (31 percent).
Since making changes to your financial routine can be a daunting
task and might seem like an overwhelming time commitment, Marcus
has released five simple and fast things that can be done at no
cost but could still have a big impact on your finances.
“Managing your finances can be daunting and sometimes the
hardest part is knowing where to start,” said Elisabeth Kozack,
Vice President of Product Strategy & Customer Experience at
Marcus by Goldman Sachs. “We wanted to introduce simple money tips
to help consumers feel confident in their financial abilities that
could also lead to their money working harder for them.”
From opening a Marcus high-yield Online Savings Account, which
offers four times (4x) the national average at 2.25 percent2, to
helping establish and maintain a sustainable budget, these five
simple tips are designed to help show that “You Can Money.” Tips
include:
- Download a Personal Financial
Management App: Consider a free personal financial management
app like Clarity Money, which monitors recurring expenses and
helps users cancel unwanted subscriptions.
- Review Your Credit Score:
Knowing your credit score is an essential benchmark and improving
it can help long-term financial planning.
- Create Your Emergency Fund: Know
how much to set aside for unplanned life moments, to help protect
you from surprise costs and their impact on your financial
future.
- Check Your Retirement Funds:
Familiarize yourself with your company’s 401K offering. See if they
have a matching program and check what your contributions are to
your 401K.
- Open a High-Yield Online Savings
Account: Learn the annual percentage yield (APY) on your
savings account and then compare your rate to those offered by
other banks to see how much more you could be earning. For example,
a high-yield Online Savings Account from Marcus by Goldman Sachs
earns four times (4X) the national average with a rate of 2.25
percent, which might be significantly higher than your current
rate. With no minimum balance needed to start earning the rate,
this is an easy way to begin growing your savings with the cash you
already have in your account.
For more information plus other useful resources, please visit
www.marcus.com/youcanmoney.
About Marcus by Goldman Sachs®
Marcus by Goldman Sachs® offers products and tools designed to
help people achieve financial well-being. Marcus offers a
high-yield Online Savings Account and certificates of deposit in a
variety of terms and no-fee, fixed-rate unsecured personal loans,
including home improvement loans. All Marcus loans and savings
products are provided by Goldman Sachs Bank USA, Member FDIC, and
benefit from Goldman Sachs and its 150-year history of financial
expertise, risk management and customer service. For more
information please visit www.marcus.com.
About Clarity Money
Clarity Money is a personal finance mobile app that acts as your
financial champion. By combining artificial intelligence and
machine learning, Clarity Money delivers actionable insights to
help consumers take control of their financial lives. The app
displays your financial picture by analyzing accounts and spending
patterns, identifying and helping to cancel unwanted subscriptions,
and allowing users to check their free credit score. Launched in
2017 by venture capitalist and serial entrepreneur Adam Dell,
Clarity Money became part of Marcus by Goldman Sachs in April 2018.
The free app can be downloaded in the App Store, Google Play Store
and is available at app.claritymoney.com.
1 The “You Can Money” Survey was conducted by Marcus by Goldman
Sachs® in February and March 2019 among 1,002 Americans.
2 Annual Percentage Yield (APY) may change at any time, before
or after account is opened. APY as of March 13, 2019. $0 minimum to
earn stated APY. A maximum of six withdrawals or transfers per
monthly statement period are allowed. Maximum balance limits
apply.
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Media Contacts:Goldman SachsAndrew Williams, 212-902-5400orZeno
GroupCathleen Koo, 212-299-8984
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