Plinqit’s 2024 State of Savings Report shows nearly half of Americans, 48%, use a checking account to save money, presenting opportunity for financial institutions to encourage smarter saving with high-yield savings accounts
ANN ARBOR, Mich., Oct. 7, 2024 – Plinqit, the first platform that brings together automated savings, data-driven financial wellness content and virtual account management, finds that a checking account is the most common way Americans save, as 48% say they use this type of account to save money while only 20% stash money in high-yield savings accounts, according to the company’s 2024 State of Savings Report. Plinqit’s 2024 State of Savings Report offers exclusive insights into the savings habits of today’s consumers and is based on their recent survey conducted by The Harris Poll of more than 2,000 U.S. adults ages 18 and older.
“By offering high-yield savings accounts with attractive rates and educating consumers on the power of smarter saving, banks and credit unions can help more Americans build up their savings and in turn, grow deposits, setting their institution up to continue helping their local communities to thrive financially.”
“Despite the fact that our State of Savings report shows that most Americans do not currently use a high-yield savings account, interest in these types of savings products has skyrocketed in the past year,” said Kathleen Craig, founder and CEO of Plinqit.
Check out the full press release published on einpresswire.com
