Research Paper

Financial Health Pulse

Balancing Today, Building Tomorrow: How Financially Coping Americans Plan, Save, and Invest

Even before COVID-19, millions of Americans were struggling financially, with more than half the population classified as Financially Coping. As job losses mount, savings are spent down, household debt grows, and investments shrink during the pandemic, Americans need financial support more than ever. This new research sheds light on how providers can support the saving and investing behaviors of Financially Coping consumers, ultimately improving both their immediate and long-term financial health.

Financial Health Can Be So… Retro

Some of the most popular financial health tools introduced by fintechs actually replicate and automate habits and “life hacks” that many households used successfully before the era of electronic banking and payments. These digital “retronovations” bode well for banks and credit unions seeking to offer services that help their customers while also bringing subscription revenues that lessen institutions’ dependence on penalty fees.

Supporting the Financial Lives of America’s Young People

Principal® Foundation research shows that In the United States, 54% of young people between the ages of 18 and 30 report they have hit financial rock bottom – a situation made worse by pandemic-related job losses and college closures. This report shares new potential solutions from the Principal Foundation YouthCan Initiative Innovation Challenge, which supports organizations working to tackle the financial issues facing young people today.

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 Beyond Measurement: Insights from the 2019 Financial Health Leaders Program

Beyond Measurement: Insights from the 2019 Financial Health Leaders Program

By measuring financial health, businesses can better understand how customers save, spend, borrow, and plan and develop solutions to meet those needs. This report recognizes how our 2019 Financial Health Leaders used measurement to advance their companies’ strategic priorities, providing insights for organizations as they invest in the financial health of their customers, employees, and communities.

Fintech Over 50: Designing for Low- to Moderate-Income Older Adults

Despite their widespread use of technology, many adults 50 and older find it challenging to handle day-to-day financial needs online. However, shifting financial management systems online has become critical for older generations that face the greatest health risks from COVID-19. Through qualitative, human-centered research, the Financial Health Network uncovered barriers that inhibit older adults’ adoption of fintech, such as negative stereotypes about their tech savviness and concerns about losing granular control over their finances. This report offers recommendations for fintech customer experience design that financial services innovators can use to overcome these barriers and join older adults as partners on their journey toward financial health.

Financial Health Pulse

Hawaii Financial Health Pulse: 2019 Survey Results

The majority of Americans are struggling financially – and the everyday economic reality is similar for those who live and work in Hawaii. The Hawaii Financial Health Pulse offers an in-depth view of their financial struggles and coping strategies, along with potential solutions to improve financial health across Hawaii and the rest of the country.