Americans Use PCs for Personal Finance

October 29, 2001 (PLANSPONSOR.com) - An overwhelming 93% of households with computers now have Internet access, and almost a third of these use their PCs to manage their finances - food for thought for plan sponsors considering taking their 401(k) plans online.

And, according to the Yankee Group’s annual Technologically Advanced Family (TAF) Survey, the top three uses for home PCs are:

  • online services and Internet access, cited by 76%
  • games and entertainment, listed by 58%
  • personal or household finances, cited by 30%.

The online population is also becoming more experienced. Of PC owners who have Internet access:

  • 83% have been online for over a year
  • two-fifths have been online for between one and three years
  • almost 45% have been online for over three years.

The study sample was selected from a consumer mail panel of 450,000 nationally representative US households.

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