RJ and Makay

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More than half of young people age 18 to 24 are willing to try new high-tech payment tools, according to a new American Express survey.  These new “contactless payment” methods are smoothing a path for smartphones to eventually replace wallets.  The study identified three distinct types, the techie, the security buff, and the budget boss, in its survey of attitudes regarding mobile payment methods.

A smartphone can be a great convenience. In addition to making calls, you can use it for virtually all of your money management needs, like transferring money, making payments, and depositing checks. At a lot of places, you can even swipe it like a credit card.

Just don't lose it. There might be nothing more dangerous to your finances than a lost smartphone.