Retirement budgeting tools

Then you can select which transactions are bills so the app can track recurring payments. And notify you when upcoming bills are due. Also, you can move funds securely to insured bank accounts with PocketGuard. You can get started with PocketGuard in a few easy steps.

The passcode is for extra security, and you will need to enter that passcode each time you leave the app. PocketGuard is available as a free budgeting app, or a paid version known as Pocketguard Plus. PockGuard Plus offers premium features. Visit their website to learn more. Honeydue is a free personal finance tool for couples, newlyweds, and partners to collaborate on their finances together.

Therefore couples can manage their money, track spending, save toward goals, and set budgets from one app. Users can start by downloading the free budgeting app available for Android and iOS. Then link their banking information, checking, and credit cards and enter their bills; the car payment, mortgage, utilities, and more. Each person has a separate account with Honeydue. Next, enter your billing due dates and cost so the app can start the budgeting process for you.

Using online budgeting tools and technology is the modern way of handling your finances. And there are a plethora of budgeting apps available today. So you must research each budgeting app, visit their websites, and read user reviews to see if it meet your needs. Derrick is the founder of StretchingMoney. He loves reading articles on ways to strengthen his life financially.

And he'd wants to share some personal finances topics that you could benefit from. Save my name, email, and website in this browser for the next time I comment. This post contains affiliate link s. An affiliate link means that I may earn referral and advertising fees if you purchase a product or sign-up for a service through my hyperlink with no additional cost to you.

What's Hot. Facebook Twitter Instagram. Facebook Twitter Instagram YouTube. July 20, Online budgeting apps can help you set budgets and improve your financial future. The following content contains affiliate links, and by clicking on a link and making a purchase, I may earn commissions.

More Here! Table of Contents. Image Source: Mint. Mint Pros and Cons Positive Easy to set up and configure Free to use User-friendly interface Alert you when you exceed your budget Setup and track your credit score. Negative Can not add properties from the mobile app Limited on links to third party sites You have to deal with advertisements.

Signup for Mint now! Keep track of all your assets in one place. Negative Frequent account disconnections Pushy upselling. Signup for Personal Capital now! Plan for your retirement and manage investments effectively. GoodBudget Pros and Cons Positive Easy transfers between envelopes Offer an excellent search function Export data to a CSV file Displays an overview of the amount of cash left in each envelope Offers courses, articles, and podcasts to help beginners. Negative Requires an upgrade for more envelopes Unable to create custom categories Have to enter account data manually.

Signup for GoodBudget now! A modern spin on an old envelope budgeting system. Predicts where your money is going before it happens. Negative It charges a monthly fee. Sign-up for YNAB now! Easy to use with a simple spreadsheet-style layout. Mvelopes Pros and Cons Positive Offers a dedicated personal coach You can use it for 30 days free Provides unlimited accounts and envelops Has a video masterclasses.

Negative The groups do not provide the overall sum Editing the budgets is a tedious process Preset budget categories. PocketGuard Pros and Cons Positive Have the ability to hashtag groups of transactions Offers a learning guide to help newbies Has a pie chart with an overview of your expenses Offers strategies to pay off debt more efficiently.

Negative It takes too long to connect with your bank accounts Requires an upgrade to add custom categories. Bills for property taxes, insurance premiums, auto registration, and home warranties may arrive once a year.

Add up these periodic expenses and divide by 12 to calculate their monthly cost to include in your retirement budget. Use lined paper or a computer spreadsheet program to account for the timing of expenses.

List the months, January through December, across the top in separate columns. Down the left side of the spreadsheet, list each expense on a separate line.

Do this for each expense item, then find the sum for each month. These are your fixed costs. If your employer has been paying your health insurance premiums, after retirement, you may have to pick up the tab. If you retire before age 65, you'll need to explore the available options for health care coverage before your Medicare kicks in. Shop for plans now so you can add an estimate of that monthly expense into your budget.

Don't forget about dental, vision, and hearing care. Add those expenses to your budget, too. Estimate other health expenses such as medication as well, so you have the full picture when creating your retirement budget. Discretionary spending is the flexible part of the budget that includes all the fun stuff, such as travel, grandkid outings, sports, and other entertainment. Do you love to dine out or want to go on a yearly cruise? Figure out how much you'd like to spend on these fun retirement activities, then figure them into your budget.

Consider how your hobbies and lifestyle may change, as this could affect the way you spend. If married, ask your spouse to do this also. If you plan to spend your newfound free time in pursuit of expensive hobbies, you must account for that spending in your budget.

Think about changes you may be willing to make to free up money for these activities; the trade-off may be worth it. For example, if you want to travel more, would you be willing to downsize and live in a smaller home to reduce housing costs? Now that you've gathered all your expected costs, calculate how much is fixed and how much is flexible:.

Regardless of when you expect to retire, it's a good idea to keep open the option of an earlier retirement, according to Wright. Ready to take control of your finances? Try Quicken or Simplifi by Quicken today and start reaching your financial goals with confidence.

My Account. Quicken on the Web. Free with your Quicken desktop subscription Access Quicken anytime, anywhere Add and edit transactions Sync and view all your accounts in any browser See investment portfolio daily changes. The Three Phases of Retirement Like every other part of life, retirement is not a static state. Analyzing Investments When retirement is still many years away, a popular strategy is to maximize returns by having a higher percentage of your investments in high-growth stocks and mutual funds.

Budgeting and Taxes Using a budget is important to ensure that you are saving as much as possible for retirement. Lifestyle Tech Travel. Home Buying Property Management Renting.