Finances are a hard topic to discuss, but there’s no shame in recognizing that your current system for financial management isn’t working. Luckily, there are a number of tools available that can make the process much easier for you moving forward.
Best Budgeting and Personal Finance Apps for Seniors
1. AARP Now
The AARP Now mobile app, associated with AARP (American Association of Retired Persons), makes keeping up with news and special offers for seniors extremely easy. This app provides a calendar of local events in your area as well as discounts that are available with your AARP membership. As an AARP member, you can access your digital card in the app anytime. Other features include daily news stories, nearby event listings, and members-only benefits and discounts.
The app according to its official website: “AARP Now puts the power of membership in the palm of your hand. As a member, you can access your digital card anytime from the AARP tab and join/renew with a tap. The app also connects you with daily news stories, nearby events, and members-only benefits and discounts. It’s the best of AARP membership—whenever you want it and wherever you are.”
2. Sciddy App — Senior Savings
The Sciddy app makes tracking down discounts and sales an easy task. And what’s best: with this app, you will never miss any great deals. This app uses your location to help you find local businesses that offer deals for those over 50. This app will tell you which stores, hotels, and restaurants offer discounts for seniors. Discounts consist of food, entertainment, home services, travel, health, and a number of others in hundreds of cities across the country. Besides, the app has an easy to use interface.
The app according to its official website: “The Sciddy app notifies you of U.S. businesses that offer discounts to people 50 years of age and older. Discounts consist of food, entertainment, home services, travel, health, and a bevvy of others in hundreds of cities across the country.”
Get it for Android or iOS.
3. Mint
The Mint app helps seniors keep an eye on their budgets and finances. this is a personal finance app that lets users sync all bank accounts into one clean interface. You can add almost any credit card, investment, or bank account to your portfolio, and Mint will keep track of it. With this app, you can set budgets and alerts that let you know when you have gone over your designated spending limits. The app also has charts to show what percentages you spend on categories like groceries, restaurants, gas, and entertainment. By segmenting spending habits, you can easily take control of your finances and make savings goals. You can also set reminders and pay bills from the app, as well as set up a budget tailored specifically to you.
With this app, you will never need to worry about or do the guesswork on your finances again. This is ideal for seniors who are monitoring their spending or trying to stick to a budget.
The app according to its official website: “Experience a fresh way to manage money. Reach your goals with personalized insights, custom budgets, spend tracking, and subscription monitoring—all for free.”
4. PocketGuard
PocketGuard app is a simplified budget snapshot that connects your checking, credit and savings accounts and detects recurring bills and income. Then it shows how much is available for everyday spending by subtracting upcoming bills, savings goal contributions and pre-budgeted money from your estimated income. This app automatically categorizes your expenses, but you can also create custom categories and set limits for them.
As with Mint, you can connect it to all your main financial accounts, so it automatically tracks how much you’ve spent or need to spend soon each month so it can give you a snapshot of how much you have “in your pocket” – or available to spend for fun.
The app also helps you find offers that can bring down the amount you pay in your monthly bills. It offers an intuitive interface that shouldn’t be too hard for most seniors to figure out how to navigate if you’re reasonably comfortable on a mobile device.
The app according to its official website: “Personal finance simplified. PocketGuard makes it easy to take control of your money, optimize your spending and grow your savings automatically.”
5. Prism
Prism app is another intuitive app to help you track your bills each month, pay them all on time and make sure you don’t overspend today because you forgot about one coming up next week. You can pay your bills through the app, rather than having to log into your different accounts.
While Prism offers a service that you can find within some of the other apps, its focus on one main aspect of financial management means it has a simple design that could make it easier for you to use for this purpose than some of the others.
The app according to its official website: “Magic for your bills. All your bills at a glance, always up to date.”
6. Budget Simple
Budget Simple app is a free online budgeting tool. You can either link your accounts or enter your financial information manually, and the tool will produce a budget planner that helps you better understand your spending habits now, identify areas where you can start saving more, and keep up with your spending and saving goals moving forward. While what it offers is similar to some of the other tools on this list, its intuitive interface and simple budgeting advice may make it a better fit than the others for some readers.
The app according to its official website: “Eliminate Debt. Build Wealth. Budget Simple. Where is your money going? Whether you want to reduce your debt or start saving, our personal budget software will help you manage your money.”
Get it for Android or iOS.
7. Age Well Planner
Age Well Planner is an educational website created by nonprofit the National Council on Aging (NCOA). They provide information, resources, and referrals on topics such as: Benefits, Income, and Medicare.
They offer calculators to help you create a budget, plan your retirement spending and find ways to cut spending. They also help point you toward any government resources you may qualify for to help you increase your income in retirement or save on some of your main expenses.
If figuring out your budget and resources makes you realize you could actually really benefit from a few more years of work, the website also provides resources to help you develop the skills you need for a job and to find employment.
The service according to its official website: “Plan your financial future. Do you have the money you need to age well? Whether you’re looking ahead to retirement or already there and want to find ways to make your money last, we’re here for you. Take our free, short assessment to get tips for your situation.”
8. Personal Capital
If the financial health of your retirement years is tied directly to your investment accounts, then it’s worth spending some time staying on top of your investments. Personal Capital helps you track the earnings and losses on your various investment accounts all in one place, see the various fees you’re paying that you might otherwise fail to notice, and notice sooner rather than later if your investments aren’t at the level you want them to be.
It helps you create a budget and track your spending each month, and you can share savings goals you’ve set in the tool with close friends and family members who may be willing to contribute (in lieu of gifts, for instance).
The app according to its official website: “You’ve never seen your
money like this before.”
9. Budgetpulse
While being able to link your financial accounts to an app or website can make tracking your expenses and bills easier, the idea of handing that information over may make you uncomfortable (which is totally reasonable). If you don’t mind the trade off of doing extra work in exchange for more security, Budgetpulse app provides a lot of the same features and functionality as some of the other sites, but lets you import the information from your financial accounts manually.
The service according to its official website: “BudgetPulse personal finance software is the perfect solution for managing your finances. You can organize your cash flow, expenses and bank accounts in one place. And easy to understand charts and graphs enable you to visualize how you’re spending your money month-to-month. This enables you to track your progress, discover where you can make savings and improve how you manage your money. BudgetPulse also makes it easier for you to achieve larger financial goals. You can create goals and then share with friends and family. They can then track your progress and make donations, using PayPal or Amazon, to help you reach them. Personal fundraising has never been easier.”
10. Bank app
Nowadays, most banks have their own Bank app, they are usually pretty straight forward and can save you a lot of time by doing online, simple tasks that you would usually need to do at the actual bank branch. And many times you will be able to do more from the bank’s own app than from Mint or other finance apps.
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