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Do Smartphones Make Us Smarter With Our Money ?

Maybe those people who are having trouble saving just have too dumb of a phone. More than half of Americans (53 percent) use a smartphone for online banking and investing. Of those people, 73 percent say the tool helps them keep better track of their finances, according to the COUNTRY Financial Security Index.

As might be expected, younger people, ages 18 to 29, are the most likely to use personal finance applications for multiple functions (35 percent) and say they have helped them save (57 percent). But it might be surprising to know that more people over 65 (43 percent) paid bills online than other groups.

The most significant takeaway from the study is that people who used more tools on their phone and online were able to keep better track of their finances.

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