Eleos Life Study Finds Only 1 in 6 Americans Feel Financially Secure as Apps Reshape Money Management
DOVER, DE, UNITED STATES, October 2, 2025 /EINPresswire.com/ -- Eleos Life, a leader in embedded insurance, has released new research revealing a stark financial wellness crisis across America. According to their recent survey, only 15.8% of Americans express satisfaction with their current financial situation—fewer than 1 in 6 adults.
The study examined consumer attitudes toward personal finance apps, embedded financial products, and emerging technologies across various income brackets and demographics throughout the United States—uncovering critical gaps in financial wellness while revealing significant opportunities for personal finance app providers to better serve their users.
Financial Stress Reaches Crisis Levels
The survey findings paint a concerning picture of American financial wellness. Nearly 70% of respondents report actively trying to improve their finances, with those earning less than $40,000 annually facing the greatest challenges. Only 5.8% of lower-income households express satisfaction with their financial standing, while 21.5% say they feel overwhelmed or lost about their financial future.
"These numbers reveal a financial wellness crisis that personal finance apps are uniquely positioned to address," said Kiruba Shankar Eswaran, CEO at Eleos Life. "Americans are hungry for tools and guidance that can help them take control of their financial futures.”
Mobile Apps Dominate Financial Tracking
The research demonstrates that mobile apps have become the preferred method for financial management, with 55.7% of Americans relying on them rather than traditional spreadsheets, pen and paper, or personal accountants. This shift reflects a broader transformation in how people interact with their money.
Financial engagement levels remain remarkably high across all demographics:
- 87.4% check their finances at least once monthly
- 38.9% monitor finances weekly
- 26% check daily
When selecting money management apps, users prioritize three key factors: ease of use, cost or pricing structure, and security features. Budgeting tools top the wish list, followed closely by credit score monitoring and unified bank account dashboards.
Embedded Finance Presents Major Growth Opportunity
With 64% of respondents expressing interest in accessing credit cards, loans, or insurance directly through their personal finance apps, the survey found embedded financial products to be a major opportunity for app providers to expand their offerings and create new revenue streams. Not only is embedded finance a growth opportunity for developers, it's also provides customers the convenience of having multiple financial tools on the apps they already know and trust.
Eleos Life, which allows brands to embed life and disability insurance in days, notes that for many partners, these offerings have helped cultivate their brand. By integrating financial protection products directly into apps users already trust, brands can provide seamless access to essential coverage while building deeper customer relationships.
AI Adoption Shows Promise Despite Privacy Concerns
While many popular personal finance apps have been around for more than a decade, artificial intelligence is the newcomer in the space, rapidly taking up real estate in the industry with 51.4% of survey respondents having already sought AI financial advice through tools like ChatGPT, Gemini, or Claude. However, only 25.4% have used AI tools through dedicated personal finance apps, indicating significant untapped potential for app developers.
Key AI findings include:
- 61.1% want AI guidance for insurance decisions
- Users primarily seek help with auto, health, and life insurance
- Despite interest, 73.4% express privacy and security concerns
- 24.7% are less likely to download apps that include AI
Their research highlights the potential of AI through Eleos Life's own AI assistant, Theea. In a pilot test with over 5,000 customers, those who used Theea while exploring insurance coverage were 2.5 times more likely to enroll in a policy, demonstrating the practical value of AI-powered financial guidance.
The Path Forward for Personal Finance Apps
The survey results suggest that personal finance apps must evolve beyond basic money tracking to become comprehensive financial wellness platforms. Success factors include:
- Educational content addressing complex topics like investments, taxes, and insurance
- Embedded financial products that eliminate friction for users
- Transparent AI implementation that addresses privacy concerns
- Personalized guidance that makes users feel they have a personal finance advisor
"Americans are taking charge of their financial futures like never before," the white paper concludes. "App providers who embrace embedded finance and AI while addressing user concerns about privacy and security will be best positioned to lead this transformation.”
Download the Full Report for Free
To access all insights, please download the full white paper, The Future of Personal Finance Apps.
About Eleos Life
Eleos Life is a fully digital provider of embedded term life insurance, disability insurance, and income protection in the US and UK. By partnering with brands to offer policies through their digital platforms, the company is committed to closing the protection gap by making insurance accessible, affordable, and engaging for today's tech-centric consumers.
The study examined consumer attitudes toward personal finance apps, embedded financial products, and emerging technologies across various income brackets and demographics throughout the United States—uncovering critical gaps in financial wellness while revealing significant opportunities for personal finance app providers to better serve their users.
Financial Stress Reaches Crisis Levels
The survey findings paint a concerning picture of American financial wellness. Nearly 70% of respondents report actively trying to improve their finances, with those earning less than $40,000 annually facing the greatest challenges. Only 5.8% of lower-income households express satisfaction with their financial standing, while 21.5% say they feel overwhelmed or lost about their financial future.
"These numbers reveal a financial wellness crisis that personal finance apps are uniquely positioned to address," said Kiruba Shankar Eswaran, CEO at Eleos Life. "Americans are hungry for tools and guidance that can help them take control of their financial futures.”
Mobile Apps Dominate Financial Tracking
The research demonstrates that mobile apps have become the preferred method for financial management, with 55.7% of Americans relying on them rather than traditional spreadsheets, pen and paper, or personal accountants. This shift reflects a broader transformation in how people interact with their money.
Financial engagement levels remain remarkably high across all demographics:
- 87.4% check their finances at least once monthly
- 38.9% monitor finances weekly
- 26% check daily
When selecting money management apps, users prioritize three key factors: ease of use, cost or pricing structure, and security features. Budgeting tools top the wish list, followed closely by credit score monitoring and unified bank account dashboards.
Embedded Finance Presents Major Growth Opportunity
With 64% of respondents expressing interest in accessing credit cards, loans, or insurance directly through their personal finance apps, the survey found embedded financial products to be a major opportunity for app providers to expand their offerings and create new revenue streams. Not only is embedded finance a growth opportunity for developers, it's also provides customers the convenience of having multiple financial tools on the apps they already know and trust.
Eleos Life, which allows brands to embed life and disability insurance in days, notes that for many partners, these offerings have helped cultivate their brand. By integrating financial protection products directly into apps users already trust, brands can provide seamless access to essential coverage while building deeper customer relationships.
AI Adoption Shows Promise Despite Privacy Concerns
While many popular personal finance apps have been around for more than a decade, artificial intelligence is the newcomer in the space, rapidly taking up real estate in the industry with 51.4% of survey respondents having already sought AI financial advice through tools like ChatGPT, Gemini, or Claude. However, only 25.4% have used AI tools through dedicated personal finance apps, indicating significant untapped potential for app developers.
Key AI findings include:
- 61.1% want AI guidance for insurance decisions
- Users primarily seek help with auto, health, and life insurance
- Despite interest, 73.4% express privacy and security concerns
- 24.7% are less likely to download apps that include AI
Their research highlights the potential of AI through Eleos Life's own AI assistant, Theea. In a pilot test with over 5,000 customers, those who used Theea while exploring insurance coverage were 2.5 times more likely to enroll in a policy, demonstrating the practical value of AI-powered financial guidance.
The Path Forward for Personal Finance Apps
The survey results suggest that personal finance apps must evolve beyond basic money tracking to become comprehensive financial wellness platforms. Success factors include:
- Educational content addressing complex topics like investments, taxes, and insurance
- Embedded financial products that eliminate friction for users
- Transparent AI implementation that addresses privacy concerns
- Personalized guidance that makes users feel they have a personal finance advisor
"Americans are taking charge of their financial futures like never before," the white paper concludes. "App providers who embrace embedded finance and AI while addressing user concerns about privacy and security will be best positioned to lead this transformation.”
Download the Full Report for Free
To access all insights, please download the full white paper, The Future of Personal Finance Apps.
About Eleos Life
Eleos Life is a fully digital provider of embedded term life insurance, disability insurance, and income protection in the US and UK. By partnering with brands to offer policies through their digital platforms, the company is committed to closing the protection gap by making insurance accessible, affordable, and engaging for today's tech-centric consumers.
Sofia Lopez
Eleos Life
sofia.lopez@witheleos.com
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