Apps: Help or hindrance for savings habits?

New FSCS research

Victoria McKeever
clock • 2 min read

People struggle to keep track of their spending and find it harder to save when they shop through apps, a new FSCS study has found. We asked some industry players for their views…

The Financial Services Compensation Scheme (FSCS) found ‘out of hours' shopping can have a detrimental effect on keeping track of people's spending and saving habits. It surveyed more than 2,000 UK adults in March 2017 and found women in particular were prone to spending money through apps. Women had an average of nine apps on electronic devices that enabled spending, the survey found, while men were more likely to have an app on their phone that helped them save or manage their money.  Many respondents said apps made it much easier to spend money, while some struggled to keep trac...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Technology

More than half of advisers are testing AI and regtech

More than half of advisers are testing AI and regtech

AI viewed as both an opportunity and risk by compliance officers

Isabel Baxter
clock 06 November 2025 • 2 min read
Adventures in AI: Separating hype from reality

Adventures in AI: Separating hype from reality

Taking the ‘eh?’ out of AI

Mike Morrow
clock 29 October 2025 • 4 min read
Iress and Moneyinfo link up in 'first of its kind' partnership

Iress and Moneyinfo link up in 'first of its kind' partnership

Exclusive: Tech firms aim to connect the full advice journey

Isabel Baxter
clock 29 October 2025 • 6 min read