You may have notifications set up to warn you about an issue with your budget. In fact, according to a Lexington Law survey, 26% of Americans check their bank account only once a month (8%) or even less frequently (18%)! However, once you’ve automated the tracking of your accounts, you don’t have to think about it on a regular basis. If you’ve spent time setting up your new budgeting app, your motivation is high.Īfter all, you’ve spent time linking your bank and credit card accounts so you can track your account activity. You Don’t Have to Use the Budgeting App Daily Related: Can Mental Accounting Hinder Your Financial Goals? 1. Here are 5 reasons why your budgeting app isn’t helping to change your behavior. Without a doubt, these apps track the money going in and out of your accounts, but, for multiple reasons, they don’t create actual behavior change. adults said their biggest personal stressor is money.Īnd although there are budgeting apps that promise to help, most budgeting apps don’t change financial behavior long-term. In an American Psychological Association (APA) survey, Stress in America, 6 of 10 U.S. Unfortunately, by and large, these apps just don’t work. So we may look for a budgeting app to help alleviate our financial stress. In these difficult economic times, many of us are looking to improve our financial behavior.
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