A CyberPunk's opinion on the financial world of CyberSpace.

I'd like to start my collective thoughts on e-financing with the topic of age. In my humble opinion, adults I believe are more interested in buying stock and have a greater need for managing multiple accounts than younger adults/teenagers do. Parents tend to have more loans, bills, accounts, stock and savings plans in general.

Now lets look at who uses the internet in general. I would say that I am more in touch with blogging, efinance, social networks, etc than my 25 year old brother is and I am a few years younger than him. So not only from my own expereince, but I think the general consesus is the younger you are, the more internet savvy you are going to be. Are young people more careless than older people though? Who has a greater need for banking and buying stock? Why is everyone willing to put their financial status on the internet.

Well let's look at the tremendous benefits of banking, buying stock and doing credit transactions online. If you bank online, all your transactions are automatically updated or shown as processing unlike a once a month checking statement. You can transfer money from different accounts with a click of a button. You dont have to memorize an account number, but merely a pesonal password. It's easily accessible from your computer which means not waiting in line or getting out of your pajamas. I think that is the best advantage to online banking, not having to go to a bank to do my banking. Of course, online banking has reduced the cost of real estate for banks which is also a positive.

So these are some of the reasons why some people are so willing to do online banking despite the risks of identity theft. Maybe I am not scared enough, but online banking seems safer to me. Mainly because my account number cannot accidently drop on the floor and my debit cards/purse can't physically become lost or stolen if I am doing everything virtually.

Back to my beginning argument though that younger people are more interent savvy, but older adults need more financial organization. While mature adults are picking up on all the benefits of internet financing, young people are picking up on the accessibility to better stock options and loans i.e the responsibilities of being an adult. Buying stock online is cheaper than going through a broker, it's easily updated by the minute and anyone can trade. In other words, it's instant, almost free and unbiased. Now, no wander why people are so quick to do finances online.