Boomers entered a world where financial transactions passed between hands in two primary forms: cash and check. Checkbook ledgers were necessary for keeping track of one's funds, and if there was some banking to be done it had to be completed by Friday at 5 p.m.
The way we do our banking has changed, and boomers are eagerly embracing that change.
Online banking is a safe, secure way to check your balance from the comfort of your home at any given moment, and it also allows you to transfer funds between accounts, pay bills and keep tabs on credit card activity. And if you lose your credit card or bank debit card, you can log on and cancel it immediately.
Boomers search for financial information online more so than younger demographics, and half of all boomers use online banking -- a number that is trending upward [Pew].
What's the hold-up with the other half? It may have something to do with an increased interest in Internet privacy among boomers, meaning some may not be comfortable facilitating online access to their personal bank vault [source: Rogers].
However, many boomers are open to the idea of using their smartphones as credit cards, but favor security measures such as remote deactivation.
Next, we'll talk about why boomers get their news online, but do so with ink-stained fingers.