Top Takeaways
Earmarking income for recurring bills and expenses
An AI-powered version of the check register to better track committed funds
“Installmentizing” the credit card to address mounting consumer debt
Compartmentalizing emergency savings to build a bigger nest egg
Data Spotlight
Making just the minimum payment on credit cards deters some borrowers from paying down these debts over time and freeing up their credit lines for future purchases or emergencies. So more consumers are using tools that help them commit to paying down their accounts faster using fixed installments.
The Ends of the Month Blog Series
In this blog series, Entrepreneur-in-Residence Corey Stone discusses how banks and credit unions can make “retronovations” a part of basic checking accounts—and charge for them, better aligning their business models with improving their customers’ financial health.