Best Money Management Apps for Seniors

Affordable Budgeting Apps for Seniors over 60: Handle Your Retirement Finances Without Getting Overwhelmed

Last updated: January 08, 2026

Critical Money Updates Every Senior Must Know Right Now

2026 Financial Changes Hitting Your Wallet:

• Medicare Part B monthly cost: $185 (up $10.30 from 2024)
• Medicare Part B yearly deductible: $257 (up $17 from last year)
• Social Security cost-of-living raise: 2.5% for 2025 – adds about $47-50 monthly for typical recipients
• Food prices: Still rising 4% yearly (Bureau of Labor Statistics)

⚠️ App Alert You Need to Know: Mint budgeting app shut down permanently in March 2024. Former users moved to Credit Karma, which doesn’t have the budgeting features seniors need. This guide shows you what actually works now.

Top 6 Working Money Apps for Seniors Today:

1. PocketGuard – Shows how much you can safely spend each day
2. Goodbudget – Uses envelope method (no bank connection needed)
3. Monarch Money – Best for couples managing money together
4. Empower – Free tracking plus watches your investments
5. Simplifi – Closest replacement to old Mint app
6. YNAB – Teaches money planning skills (but costs more)

Reality Check About “Free” Apps: Most money apps offer basic features free, but useful tools for seniors often cost $3-12 monthly. We’ll tell you exactly what’s free versus what costs money.

Why Regular Money Apps Don’t Work Well for People Over 60

After you retire, handling money becomes completely different. Instead of getting one paycheck every two weeks, your money now comes from several places:

• Social Security (arrives different days based on when you were born)
• Pension payments (might come monthly or every three months)
• Money from retirement accounts (401k, IRA withdrawals)
• Part-time work (if you still work some)
• Income from investments or rental property

Keeping track of all these different payments gets confusing quickly. Plus, you’re dealing with rising prices while your income stays mostly the same.

The Hard Numbers: How Seniors Are Struggling Financially in 2025

According to official government studies:

• 60% of people over 65 still owe money on credit cards, medical bills, or mortgages (Federal Reserve Survey)
• 1 in 10 seniors lives below the poverty line (U.S. Census Bureau)
• Nearly 7 million seniors don’t have enough food (Feeding America 2023 report)

⚠️ These aren’t just numbers – they represent real people making tough choices between medicine, food, and heating bills.

What Makes Senior Money Management Different from Younger People

Money Arrives on Different Days: Your Social Security check comes on the 2nd, 3rd, or 4th Wednesday of the month (depends on your birthday). Pension payments might arrive monthly or quarterly. This makes it hard to plan when bills are due.

Medical Costs Keep Growing: Medicare premiums get taken out of your Social Security automatically. Doctor visits, prescriptions, and dental work add up fast. Most seniors spend 15-20% of their income on healthcare.

Income Barely Increases: Social Security cost-of-living adjustments are usually small (2.5% this year). Meanwhile, groceries, utilities, and gas prices often go up faster than your income.

Best Money Management Apps That Actually Help Seniors

We tested these apps specifically for senior-friendly features: simple setup, large buttons, clear instructions, and customer support you can actually reach by phone.

1. PocketGuard – Know Exactly How Much You Can Spend

Cost: Free basic version; $74.99/year for all features Best For: Seniors worried about overspending their fixed income Phone Support: Email only Website: pocketguard.com

Why Seniors Love PocketGuard: This app answers the most important question for people on fixed incomes: “How much money can I safely spend today?”

Here’s how it works: PocketGuard looks at your income, upcoming bills, and savings goals. Then it shows you exactly how much is left over. For example:

• Monthly income: $2,300
• Bills coming up: $1,850
• Money for savings: $150
• Safe to spend today: $10

⚠️ Reality Check – What’s Actually Free:

• Free version: Basic spending tracking, connects 2-3 accounts
• Paid version ($74.99/year): Unlimited accounts, detailed spending categories, bill negotiation help

Real Senior Story: Betty, 73, from Denver: “I was always scared I’d spend too much and run out of money. PocketGuard shows me one simple number – $15 safe to spend today – and I don’t worry anymore.”

Senior-Friendly Features:

• Big, clear numbers on the main screen
• Three-color system (green = okay to spend, yellow = be careful, red = stop)
• Works on phones, tablets, and computers

2. Goodbudget – Digital Version of the Envelope Method

Cost: Free for 10 “envelopes”; $7/month for unlimited Best For: Seniors who used cash envelopes or don’t want to connect bank accounts Phone Support: Email only
Website: goodbudget.com

How It Works for Seniors: Remember putting cash in labeled envelopes for groceries, gas, and entertainment? Goodbudget does the same thing on your phone or computer.

When your Social Security check arrives, you divide it into virtual envelopes:

• Groceries: $320
• Utilities: $140
• Medical expenses: $180
• Fun activities: $80

When you buy something, you subtract the money from the right envelope. Empty envelope means no more spending in that category.

⚠️ Important to Know: Goodbudget requires you to type in every purchase by hand. It doesn’t connect to your bank to automatically track spending. Some seniors like this for privacy, but it takes more work.

Perfect for Couples: Both spouses can see and update the same envelopes from their phones. No more “I thought you paid that bill” confusion.

Real Senior Story: Frank and Rose, ages 71 and 68: “We used paper envelopes for 45 years. Goodbudget feels exactly the same, but now we can both check our grocery money when we’re at the store.”

3. Monarch Money – Best App for Couples Managing Money Together

Cost: $99/year (often 50% off first year) Best For: Couples who want to handle finances together Phone Support: Email and chat Website: monarchmoney.com

Why Couples Love Monarch: Monarch lets both spouses see the complete money picture without sharing passwords. You can choose what information to share and what to keep separate.

Key Features for Seniors:

• Clean, simple dashboard that’s not overwhelming
• Tracks investments alongside spending (great for retirement accounts)
• Sends monthly reports via email showing progress toward goals
• No advertisements or sales pitches
• Works on phones, tablets, and computers

Reality Check – The Cost: At $99/year, Monarch isn’t cheap. But it’s designed for serious money management, not just basic tracking. Many couples find it worth the cost for the peace of mind.

What You Get for $99/Year:

• Unlimited account connections
• Investment tracking for retirement accounts
• Shared access for spouses (no extra charge)
• Monthly email reports
• Bill reminders and subscription tracking
• No ads or data selling

Real Senior Story: Tom and Linda, ages 69 and 66: “After Tom’s heart attack, I needed to understand our finances. Monarch shows me everything in plain English. Now we both know where we stand.”

4. Empower – Free Investment Tracking Plus Budgeting

Cost: Free for budgeting features Best For: Seniors with retirement accounts to monitor Phone Support: Yes, during business hours Website: empower.com

Why Seniors Choose Empower: Unlike pure budgeting apps, Empower also watches your 401k, IRA, and other investment accounts. You can see your complete financial picture in one place.

Free Features Include:

• Budget tracking across all accounts
• Investment performance monitoring
• Net worth calculation
• Retirement planning tools
• Account security alerts

⚠️ Reality Check – Sales Calls: Empower makes money by selling wealth management services to people with $250,000+ in investments. You might get phone calls about their paid services. You can say no and keep using the free features.

Senior-Friendly Features:

• Large, easy-to-read charts and graphs
• Phone support during business hours
• Simple setup process
• Works well on tablets and computers

5. Simplifi by Quicken – Best Replacement for Old Mint App

Cost: $47.88/year (sometimes discounted to $35.88) Best For: Former Mint users or seniors who want comprehensive tracking Phone Support: Yes Website: simplifi.com

Made by Quicken, a trusted financial software company that’s been around for 40+ years. This is the closest thing to the old Mint app that many seniors loved.

Senior-Friendly Features:

• Automatic bill reminders sent to your email
• Simple setup (usually takes 15-20 minutes)
• Tracks multiple income sources without getting confused
• Real customer support you can reach by phone

What You Get for $47.88/Year:

• Connects to unlimited bank accounts
• Automatic sorting of spending into categories
• Email reminders for bill due dates
• Monthly spending reports
• Investment account tracking
• No advertisements

Reality Check: This costs about $4 per month – less than a fast food meal. Many seniors find it worth the cost for the time savings and peace of mind.

Real Senior Story: George, 76: “After Mint shut down, I tried four free apps. They were either too complicated or didn’t work right. I finally paid for Simplifi and should have done it sooner.”

6. YNAB (You Need A Budget) – Teaches Money Planning Skills

Cost: $109/year (34-day free trial) Best For: Seniors who want to learn better money habits Phone Support: Email and online chat only Website: youneedabudget.com

YNAB doesn’t just track spending – it teaches you to plan where every dollar goes before you spend it.

How YNAB Works:

1. When your Social Security check arrives, you give every dollar a “job”
2. $750 for rent, $280 for groceries, $90 for utilities, etc.
3. Before buying anything, you check if money is available in that category
4. If there’s no money set aside, you either skip the purchase or move money from another category

Educational Resources for Seniors:

• Free online workshops
• Video tutorials at comfortable speeds
• Email courses
• Community forum for questions

⚠️ Reality Check – The High Price: At $109/year, YNAB is the most expensive option. The company says users save an average of $6,000 in their first year, but that’s based on their own surveys. The method works well for motivated people, but requires commitment to learn.

Not Good For:

• Seniors who just want simple tracking
• People uncomfortable with technology
• Those who prefer automatic systems

Money Management App Comparison Chart

Advanced Options for Tech-Savvy Seniors

Open Source Apps (Free but Technical): For seniors comfortable with computers, these free options exist:

• GnuCash: Powerful but complicated accounting software
• Actual Budget: Modern interface but requires technical setup
• Firefly III: Very advanced but needs hosting knowledge

⚠️ Reality Check: These apps require significant technical knowledge and aren’t recommended for most seniors.

Step-by-Step: Setting Up Your First Money Management App

Before You Start (Allow 45-60 minutes):

What You’ll Need:

• Your email address and phone number
• Bank account login information (username and password)
• Recent bank statement for reference
• List of monthly bills and due dates

⚠️ Security Reality Check: You’ll need to provide your bank login information. This is normal and uses the same security as online banking. The app can only view your account – it cannot move money or make payments.

Getting Started with PocketGuard (Easiest Option)

Step 1: Sign Up

1. Go to pocketguard.com on your computer or download the app
2. Click “Get Started Free”
3. Enter your email and create a password
4. Check your email and click the verification link

Step 2: Connect Your Main Bank Account

1. Look for your bank’s name in the list
2. Enter your online banking username and password
3. Wait 2-3 minutes for verification
4. Review the transactions that appear

Step 3: Set Your Monthly Income

1. Tell PocketGuard about your Social Security amount
2. Add pension or other regular income
3. The app calculates your available spending money

What Happens Next: PocketGuard shows you exactly how much money you have available to spend after paying bills and saving money. This number updates every time you make a purchase.

Free Options for Seniors Who Don’t Want Apps

Not everyone feels comfortable with smartphone apps or connecting bank accounts online. Here are other ways to manage your money:

Paper-Based Money Management

AARP Budget Worksheet

• Free downloadable PDF specifically designed for retirees
• Includes categories for medical expenses and Social Security
• Works with pen and paper – no technology needed

National Council on Aging Tools

• Free online budget calculator that works on any computer
• No download or signup required
• Helps calculate monthly expenses and income

Professional Help Options

Nonprofit Credit Counseling

• National Foundation for Credit Counseling helps you find local counselors
• Usually free or low-cost ($25-50 per session)
• Available in person or by phone

Bank Financial Services

• Many banks offer free financial planning sessions for seniors
• Call your bank and ask about senior services
• Often includes budget help and fraud protection advice

VITA Tax Preparation Sites

• IRS Volunteer Income Tax Assistance locations
• Free tax preparation that often includes budget counseling
• Available January through April at community centers and libraries

Understanding Your Social Security and Medicare Money

When Social Security Payments Arrive

Your Social Security payment comes on a specific day each month based on your birthday:

⚠️ Special Note: If you get both Social Security and SSI, your payment schedule is different. SSI payments come on the 1st of each month.

Medicare Costs That Come Out of Social Security

Monthly Deductions from Your Social Security:

• Medicare Part B premium: $185/month for most people
• Medicare Part D (drug coverage): Varies by plan, $20-80/month typical
• Higher earners pay more based on income from two years ago

⚠️ Reality Check: These deductions happen automatically. Your Social Security statement shows the net amount you actually receive.

Government Programs That Can Help Stretch Your Budget

Many seniors qualify for assistance programs but don’t know about them or think they won’t qualify. Here’s what’s available:

Medicare Savings Programs

What They Pay For:

• Medicare Part B monthly premiums ($185/month)
• Yearly deductibles and co-payments
• Sometimes Part A premiums for people who don’t get them free

Income Limits for 2025:

• Individual: $1,715/month ($20,580/year)
• Married couple: $2,320/month ($27,840/year)

How to Apply:

• Contact your state Medicaid office
• Call 1-800-MEDICARE (1-800-633-4227)
• Apply online at medicare.gov

⚠️ Reality Check: Some states have waiting lists. The application process takes 45-90 days. Gather your income documents before applying.

SNAP (Food Stamps) for Seniors

Income Limits for 2025:

• Individual: $2,430/month gross income
• Married couple: $3,288/month gross income

Average Monthly Benefit: $23-200+ depending on your income and expenses

How to Apply:

• Visit your local Department of Social Services office
• Apply online through your state’s website
• Phone interviews available in most states

⚠️ Reality Check – Application Process: Expect 30-45 days for approval. You’ll need income verification, bank statements, and possibly an interview. Many seniors find the paperwork confusing – ask for help at the office.

Documents You’ll Need:

• Social Security award letters
• Bank statements from last 3 months
• Medical expense receipts (these can increase your benefits)
• Rent/mortgage payment proof

LIHEAP (Help with Heating and Cooling Bills)

What It Covers:

• Heating and air conditioning bills
• Energy-related home repairs
• Weatherization help (insulation, window repairs)

Income Limits: Generally around $2,430/month for individuals (varies by state)

How to Apply:

• Contact your state LIHEAP office
• Applications usually open October through March
• First-come, first-served in most states

⚠️ Reality Check: LIHEAP runs out of money every year. Apply as soon as applications open in your state. In cold states, programs often have waiting lists.

Property Tax Relief for Seniors

Most states offer property tax help for older homeowners:

Common Programs:

• Homestead exemptions: Reduce your home’s assessed value
• Tax freezes: Lock in your current tax rate
• Tax deferrals: Pay when you sell the house

How to Find Help:

• Contact your county assessor’s office
• Visit your state revenue department website
• Call 211 for local assistance programs

⚠️ Reality Check: Application deadlines are strict (usually April-June) and vary by state. Miss the deadline and you wait until next year.

Common Money Mistakes Seniors Make

1. Not Tracking Medical Expenses

The Problem: Medical bills, insurance premiums, and prescription costs add up quickly. Many seniors underestimate these expenses by 30-40%.

Better Approach:

• Create a separate category for all medical expenses
• Track Medicare premiums, doctor co-pays, prescription costs
• Keep receipts – medical expenses over 7.5% of income are tax-deductible

2. Forgetting About Yearly Expenses

The Problem: Property taxes, insurance premiums, and car registration come once or twice yearly. Seniors often forget to save for them.

Solution – Create Monthly Savings:

• Property taxes: $2,800/year = $235/month to save
• Car insurance: $1,400/year = $115/month to save
• Home repairs: $2,000/year = $165/month to save

3. Not Planning for Rising Costs

The Problem: Fixed incomes don’t keep up with rising prices. What costs $100 today will cost $103-104 next year.

⚠️ Reality Check: Social Security cost-of-living adjustments rarely match the real inflation seniors experience. Plan for gradual budget tightening over time.

4. Falling for Financial Scams

Common Senior Scams:

• Phone calls claiming Medicare or Social Security problems
• Emails asking for personal information
• “Grandparent scams” requesting emergency money transfers
• Fake charity appeals after natural disasters

How to Protect Yourself:

• Medicare and Social Security contact you by mail first, never by phone
• They never ask for passwords or account numbers
• When in doubt, hang up and call the official number yourself
• Never give personal information to unsolicited callers

When You Need Professional Help

Warning Signs You Should Get Help:

• Consistently spending more than your income
• Using credit cards for basic necessities
• Behind on essential bills (utilities, rent, mortgage)
• Feeling overwhelmed by financial decisions
• Considering payday loans or cash advances

Where to Find Trustworthy Help:

Nonprofit Credit Counseling:

• National Foundation for Credit Counseling
• Usually free or very low cost
• Certified counselors
• Can help negotiate with creditors

Legal Aid for Seniors:

• National Legal Aid & Defender Association
• Free legal help for low-income seniors
• Can help with debt, housing, and benefit problems

Area Agencies on Aging:

• Eldercare Locator or call 1-800-677-1116
• Local resources and assistance programs
• Often provide financial counseling and benefits help

⚠️ Reality Check: Don’t wait until you’re in crisis. Getting help early gives you more options and less stress.

Frequently Asked Questions

Q: Are money management apps really safe for seniors to use? A: Yes, when you use established apps from reputable companies. They use the same security as online banking and can only view your accounts, not move money. However, avoid unknown apps or those with poor reviews.

Q: What happens if a money app company goes out of business? A: Your bank accounts remain completely separate and unaffected. You would simply lose access to the budgeting features. This is why it’s important to choose established companies.

Q: Can I use these apps if I don’t have a smartphone? A: Yes! All the apps mentioned work on regular computers through websites. You don’t need a smartphone.

Q: Will using a money app affect my credit score? A: No, these apps don’t affect your credit score. Some offer free credit monitoring, but that doesn’t impact your score either.

Q: How often should I check my money app? A: Once a week is usually enough. Daily checking can become stressful, while monthly reviews miss opportunities to catch problems early.

Q: What if I make a mistake while using the app? A: All these apps let you edit or delete transactions and change categories. Mistakes are common when starting and are easily fixed.

Q: Can my adult children help me with my money app? A: Some apps allow shared access, but be careful about giving anyone else access to your financial information. Consider having them help with setup and training rather than ongoing access.

Q: Do I need to connect all my accounts to get value from a money app? A: No. Start with your main checking account and primary credit card. Add other accounts later as you become more comfortable.

Q: How do I know if an app is legitimate? A: Look for apps available in official app stores, good user reviews (4+ stars), clear privacy policies, and established companies behind them.

Q: What should I do if I see charges I don’t recognize? A: Contact your bank or credit card company immediately. Money apps can help you spot unusual transactions quickly, but always report suspected fraud directly to your financial institution.

Additional Resources for Senior Financial Help

Official Government Resources

• Social Security Administration – Check benefits, create online account
• Medicare.gov – Compare plans, find costs, get help
• National Council on Aging – Benefits screening and assistance programs
• BenefitsCheckUp.org – Find programs you might qualify for

Emergency Financial Help

• 211 – Dial 2-1-1 for local assistance programs
• Feeding America – Find food banks and meal programs
• The Salvation Army – Emergency financial assistance
• Catholic Charities – Help regardless of religious affiliation

Technology Help and Training

• Senior Planet – Free technology classes for seniors
• Local libraries – Computer and internet training
• Senior centers – Technology assistance and classes
• AARP Foundation – Digital literacy programs

The Bottom Line: You Don’t Have to Do This Alone

Managing money in retirement can feel overwhelming, but you have options. Whether you choose a money management app or stick with paper and pencil, the important thing is having a system that works for you.

If you decide to try an app:

• Start with PocketGuard’s free version or Goodbudget
• Connect only your main checking account at first
• Give yourself 2-3 weeks to feel comfortable

If technology isn’t for you:

• Use the free AARP budget worksheet
• Consider professional help from a nonprofit credit counselor
• Ask family members for assistance with setup, not ongoing access

Remember:

• Perfect money management isn’t the goal – better awareness is
• Small improvements can make a big difference in your financial security
• There’s no shame in asking for help when you need it
• Scammers target seniors – be cautious but don’t let fear stop you from getting legitimate help

The most important step is the first one. Whether that’s downloading an app, calling a credit counselor, or simply writing down your monthly income and expenses, taking action puts you in control of your financial future.

Disclaimer: Program details, app features, Medicare premiums, Social Security benefits, and assistance program requirements change frequently. Income limits, application deadlines, and benefit amounts are updated annually and vary by state. App pricing, features, and availability may change without notice. Technology updates, policy changes, and market conditions can affect the information provided. Always verify current information directly with the app provider, Social Security Administration, Centers for Medicare & Medicaid Services, your state’s Department of Social Services, or other relevant agencies before making financial decisions or applying for programs. This article provides general information only and should not be considered personalized financial advice. Consult with a qualified financial advisor, certified public accountant, nonprofit credit counselor, or other licensed professional for guidance specific to your individual situation. The author and publisher are not responsible for any financial decisions made based on this information. App recommendations are based on features and user reviews available at the time of publication and do not constitute endorsements. All external links were verified at publication but may change over time.