A Third of Americans Would Rather Change a Diaper Than Deal With Their Finances

NEW YORK, NY – April 2, 2019 – April is Financial Literacy Month, but according to a recent survey from Marcus by Goldman Sachs®1, some Americans would rather do almost anything than deal with their finances, including washing the dishes (51 percent), going to the doctor (36 percent) and giving up dessert (31 percent).

Marcus by Goldman Sachs® reveals the lengths people will go to avoid their finances & releases five tips that show “You Can Money”

Since making changes to your financial routine can be a daunting task and might seem like an overwhelming time commitment, Marcus has released five simple and fast things that can be done at no cost and have a big impact.

“Managing your finances can be daunting and sometimes the hardest part is knowing where to start,” said Elisabeth Kozack, Vice President of Product Strategy & Customer Experience at Marcus by Goldman Sachs. “We wanted to introduce simple money tips to help you feel confident in their financial abilities and have their money work harder for them.”

From opening a Marcus high-yield Online Savings Account, which offers four times (4x) the national average at 2.25 percent2, to helping establish and maintain a sustainable budget, these five simple tips are designed to help show that “You Can Money.” Tip highlights include:

Download a Personal Financial Management App: Consider a free personal financial management app like Clarity Money, which monitors recurring expenses and helps users cancel unwanted subscriptions.

Review Your Credit Score: Knowing your credit score is an essential benchmark and improving it can help long-term financial planning.

Create Your Emergency Fund: Know how much to set aside for unplanned life moments, to help protect you from surprise costs and their impact on your financial future.

Check Your Retirement Funds: Familiarize yourself with your company’s 401K offering. See if they have a matching program and check what your contributions are to your 401K.

Open a High-Yield Online Savings Account: Learn the annual percentage yield (APY) on your savings account and then compare your rate to those offered by other banks to see how much more you could be earning. For example, a high-yield Online Savings Account from Marcus by Goldman Sachs earns four times (4X) the national average with a rate of 2.25 percent, which might be significantly higher than your current rate. With no minimum balance needed to start earning the rate, this is an easy way to begin growing your savings with the cash you already have in your account.

For more information on these tips plus other useful resources, please visit www.marcus.com/youcanmoney.

1 The “You Can Money” Survey was conducted by Marcus by Goldman Sachs® in February and March 2019 among 1,002 Americans.

2 Annual Percentage Yield (APY) may change at any time, before or after account is opened.  APY as of March 13, 2019. $0 minimum to earn stated APY. A maximum of six withdrawals or transfers per monthly statement period are allowed. Maximum balance limits apply.

About Marcus by Goldman Sachs®

Marcus by Goldman Sachs® offers products and tools designed to help people achieve financial well-being. Marcus offers a high-yield Online Savings Account and certificates of deposit in a variety of terms and no-fee, fixed-rate unsecured personal loans, including home improvement loans. All Marcus loans and savings products are provided by Goldman Sachs Bank USA, Member FDIC, and benefit from Goldman Sachs and its 150-year history of financial expertise, risk management and customer service. For more information please visit www.marcus.com.

About Clarity Money

Clarity Money is a personal finance mobile app that acts as your financial champion. By combining artificial intelligence and machine learning, Clarity Money delivers actionable insights to help consumers take control of their financial lives. The app displays your financial picture by analyzing accounts and spending patterns, identifying and helping to cancel unwanted subscriptions, and allowing users to check their free credit score. Launched in 2017 by venture capitalist and serial entrepreneur Adam Dell, Clarity Money became part of Marcus by Goldman Sachs in April 2018. The free app can be downloaded in the App Store, Google Play Store and is available at app.claritymoney.com.

Media Contacts:
Goldman Sachs
Andrew Williams, 212-902-5400
or
Zeno Group
Cathleen Koo, 212-299-8984

Show all press releases >