Since the beginning of the pandemic, many people have overestimated what is important to them, says Wetzel. For some, this could mean deciding whether the banks they do business with are up to par.
According to a recent NerdWallet survey, 78% of bank customers say having an ethically or socially responsible primary bank is very or fairly important. The survey of more than 2,000 US adults was commissioned by NerdWallet and conducted online by The Harris Poll.
This finding suggests that ethical or social issues such as racial justice, environmental pollution and community impact are important for consumers in choosing who to do business with.
Do you: If your current bank doesn’t reflect your values, consider it Choice of a new institution that does.
5. Your child may be using a new banking app
Banks and financial institutions have launched banking apps specifically for kids and teens, and if your kid hasn’t signed up yet, these apps are worth a look in 2022. Banking apps can help children develop financial literacy, says Clark Kendall, president and CEO of Kendall Capital, a Rockville, Maryland wealth management firm. “Giving children a budget and making them responsible for certain purchases – such as their own clothes or shoes – will help them better prepare themselves to manage their own money in the future,” he says.