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Tools That Can Help Older Adults Manage Their Finances

turned-on MacBook1. Economic Checkup

This site is a fantastic one to help seniors budget. The National Council on Aging offers this and it is not only good for budgeting, but it can help with organizing finances, saving money, investing, and a lot more. These apps and tools can be used to input personal information and it features a calculator that can help with all of it. Whether you need help with budgeting, learning how to invest, or how to plan for retirement, you can get all of the assistance you need. Along with this, any senior can get detailed information on various things like government assistance and various other things they may qualify for. You will even be able to find and take advantage of tips and tricks to make extra money on the side whether from renting out a spare bedroom or by getting a side job. You will be able to get pertinent resources and information on how to re-enter the workforce and how to obtain the jobs you need to be more competitive. When purchasing your health cover it is important to ensure that you are getting the best deal. Take a look at this list of Medicare Advantage Plans.

2. Mint

Mint is a great personal finance tool that everyone should be using. It can be especially helpful for seniors. This can be a good option to consider because it will make your finances much easier to manage. It can help by allowing you to connect all of your financial accounts and allowing you to track all of your cash flow in and out.

Directly from Mint, you will be able to create budgets and have a centralized place that you can go to get an overview of your finances as a whole. A lot of elderly people and seniors get in trouble because they aren’t necessarily certain of what accounts are due, what accounts they have, and where their money is going. It can be very difficult for anyone to remember all of this information. Having a centralized space to go to find it can make it much easier to detect when your bank account balance is running low and when bills need to be paid.

3. Silver Bills

The majority of us have forgotten to pay a bill at some point in our lives. Unfortunately, for seniors, it can happen even more often. Worst of all, it can end up causing the lights to get shut off or water to stop. In a lot of instances, a senior experiences this because they forgot. Unfortunately, it can result in seniors getting hurt or becoming ill because of it. A lot of the medical equipment and supplies seniors use require the use of electricity to function.

Silver Bills is effectively designed to help minimize the hassle and the intricacies of normal bill management. That way, seniors have a much easier time with it. You don’t even have to be online to use it. All you need to do is enroll via snail mail and you will be able to get all of your bills paid on time when they are due. Seniors will be able to get immediate alerts whenever there are any changes made and it costs around $75 per month.

4. Personal Capital

This is a very resourceful app that helps seniors keep track of different investment details. It does so with a personalized and comprehensive dashboard that can monitor investments and that can help you plan for financial goals.

5. PocketGuard

This is a free app that helps with a lot of different things. For one, it can help with coming up with and maintaining a budget. You will be able to set budget limits within the app and it will keep your spending in check. It can track how much cash you have available and it can help you calculate your spending according to how much you have available based on upcoming bills you are required to pay.