Americans turn to internet for financial advice, information

July 17, 2009 | Print this Page.
An estimated 69 percent of Americans - and 88 percent of internet users - use the internet for financial- and economic-related activities.
Americans concerned with their finances and the state of the economy are increasingly going online to find financial information, a new survey reported.

The survey, by the Pew Internet & American Life Project, found that 69 percent of American adults - representing 88 percent of internet users - are "online economic users" who go online to find capital solutions, financial advice, and information about the recession.

Though broadcast media was the most popular platform for delivering national economic news, the internet was the leading medium for personal finance information, the survey found.

Small businesses can use this information to their advantage, targeting economically-savvy and curious consumers through websites, blogs and news feeds.

Online discounts and promotions are likely to get increased traffic because of the recession, as 67 percent of online economic users search for price comparisons, 40 percent search for coupons and discounts, and 27 percent look for advice on how to save money.

Small businesses looking to recruit new talent may also find this data encouraging, as 41 percent of online economic users are looking for jobs, 27 percent are exploring second job options, and 25 percent are learning about how to improve their job skills.

Despite the survey results, a recent Nielsen Economic Current study found that online recession-related discussions have actually decreased by 69 percent since March, leading to a 0.2 average weekly increase in consumer purchasing behavior.

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