The market for professional money managers isn’t going away anytime soon, but as the mobile industry becomes more sophisticated, apps are starting to handle some of the heavy lifting.

That’s a good thing, too, since Americans on the whole are woefully bad at managing their finances. A study by the Financial Industry Regulatory Authority’s Investor Education Foundation found that 19 percent of Americans are spending more money then they make. Meanwhile, the FINRA Foundation’s “State-by-State Financial Capability Survey,” which surveyed more than 25,000 respondents, found that 56 percent don’t have enough tucked away to cover three months of unanticipated financial emergencies.

Read more at CNBC.com