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Baby boomers balance numerousbudgetaryresponsibilities.
Nearlyhalf of boomerslive paycheck to paycheck, and many approaching retirementhave little savedfor their after-work years.
Living on a budget is essential to achieving goals in retirement and avoiding stress over money.
Thankfully, there are tools to help you manage your finances.
Here are six of the best budget apps for baby boomers.Also check out what frugal baby boomers never buy.
YNAB connects to your bank accounts to make tracking your spending a breeze.
The platform operates with the philosophy of giving every dollar a job.
With that, you assign a particular dollar amount to each spending category you have.
you’ve got the option to consult its list of common categories to avoid overlooking any categories.
Goodbudget
Do you like a more classic approach to budgeting?
If so,Goodbudgetis a fantastic budgeting app for baby boomers.
Goodbudget digitizes envelope budgeting, which allocates cash to virtual envelopes for each spending category.
The Goodbudget app visualizes where your money goes each month.
you’ve got the option to connect the app to your bank accounts, or manually enter transactions.
It even helps you make a plan to attack debt if needed.
A free version is available, but a paid account is required to unlock the top features.
EveryDollar
EveryDollaris the budgeting app from personal finance guru Dave Ramsey.
The app is good for beginners as it provides a free budget template.
Unsurprisingly, the app follows Ramseys philosophy of zero-based budgeting, which gives each dollar you earn a task.
Various options are available, although the free plan requires users to manually input all data.
Paid accounts include access to Ramseys popular Financial Peace University and Baby Steps tracker.
PocketGuard
PocketGuardis a helpful budget app for seniors saving for goals on a tight budget.
PocketGuard lets users monitor real-time spending by linking to their bank accounts.
The In My Pocket tool shows how much you have for discretionary spending so you dont risk overextending yourself.
The platform lets users connect bank accounts, along with a variety of investment accounts.
Empower is free to use.
Financial advisory services are available, but that carries a cost.
Unlike other budgeting apps, the AARP Money Map Budget Builder doesnt connect to bank accounts.
All information must be input manually.
The AARP website says it believes that its beneficial for users to help people see what theyre spending.
The platform is free to use for both AARP members and non-members.
Budgeting is a helpful way to manage your resources and achieve financial goals, even for baby boomers.
With nearly 80% of seniorsowning a smartphone, these apps offer the tools necessary to thrive.
Furthermore, all of the platforms provide bank-level security.
Living on a budget may feel intimidating.
Thankfully, with a helpful budgeting app, you might confidently manage your finances and make informed decisions.
Most apps provide free trials, so you’re free to see if theyre for you.
Dont hesitate to try several until you find one that works best.
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