Saving, Spending, and Investing: The Biggest Consumer Trends in Finance for 2024

The financial sector is constantly changing, and so is consumer behavior. 

Today, more than ever, it’s critical for brands to identify shifts in consumer preferences and behaviors as early as possible to refine their marketing strategies and stay relevant to their consumers.

In our latest consumer trends report on the financial services sector, we deep dive into the biggest consumer trends. Let’s go through some of the biggest ones that are currently shaping consumer behavior in 2024.

1. Budgeting is becoming a top priority for consumers

Due to inflation and escalating costs, consumers are finding themselves spending more than they did a few years ago. As a result, consumers are more conscious of their spending habits. To effectively manage their finances, many have turned to personal finance apps as a practical solution for budgeting and financial management. 

Online conversations about finance apps increased by more than a third between March 1, 2023 and February 29, 2024, compared to the previous 12 months. The increasing popularity of finance apps can also be seen in search interest. According to Google Trends, search interest for “finance app” reached its second-highest peak in the last five years in January 2024. Consumers are noticeably more interested in apps that help them keep track of their finances.

The primary emotion in these conversations is joy, with 45% of emotion-categorized mentions being joyful. When consumers find the right app, they like to talk about their positive experience online. In positive conversations, they praise the app if it is free, easy to use, and has helpful features.