Tony Rasmussen, VP Financial Education joined Rick Aaron on ABC4 today to talk about money and banking technology and the impact that COVID is having on people.
Don’t let money and finances spook you this Halloween season–a few tech tips and tricks that can be a real treat for managing your money.
According to Tony, some industry analysts are saying that it has caused a five-year shift forward or boost on digital banking adoption, people are overcoming fears and security concerns and utilizing things like mobile deposit and video chat to help manage their finances. The COVID pandemic has given people who were “sitting on the fence” reason to embrace the added convenience and security of banking technology, and many are loving it.
The unexpected expense is often a source of fear and stress when it comes to money. Many of Mountain America Credit Union‘s customers are overcoming these by utilizing different options that are offered.
For Example, they’re using automatic transfers to prepare for the “ifs and whens”. Once the automatic transfers have been set up, auto transfers set you up for success; the money has a job and less likely to be used for emotional/spontaneous spending. Setting up automatic transfers and digital payments can also be used for fun things too—like vacations and holiday shopping and auto and home repairs.
2020 has been a rough year for many with COVID. Tony suggests a few tricks to help life or appease their “financial spirits”:
- Use account alerts and notifications—can quickly resolve unauthorized transactions and improve “spend awareness”
- Card and digital transactions are so easy some forget they’re using “real money.” Transaction and balance alerts can keep us in touch with our spending.
- Zelle money movement service (can be used by virtually anyone with a U.S.-based bank/credit union account) provides the ease and convenience of money apps like Venmo and Square, but eliminates the middleman and moves money directly from one financial institution to another.
For additional information or to see how Mountain America Credit Union can help you achieve your financial goals, come in, call or visit them online.
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