Save Cash With Your Phone

As the cost of living continues to rise, older adults must find innovative ways to manage their finances and stretch their dollars. The 2023 Federal Reserve’s Survey of Consumer Finances reported that 64.8% of older adults ages 65-74 and 53.5% aged 75+ had debt!

Thankfully, technology offers a variety of economic empowerment apps designed to help seniors make smarter financial decisions. Money management apps provide tools for tracking expenses, finding discounts, managing subscriptions, and investing wisely. Senior Planet looked into some of the best apps to help older adults maintain their financial goals.

Subscription fatigue

C+R Research surveyed 1,000 consumers on subscription management and discovered that 42% forgot about a recurring monthly/yearly payment they were no longer using but were still paying! Subscription “creep” is monthly or annual fees accumulating over time. The same survey asked respondents to estimate their monthly subscription fees, which averaged $86. When asked to review their itemized expenses, the average total subscription amount jumped to $219, a difference of $1,596 yearly.

• Hiatus – (Free/$48 year)

The app offers basic subscription tracking, bill negotiation, and custom budgeting. Hiatus states it has “bank-level security.”

• Rocket Money – (Free/$6-$12 monthly)

One of the most popular subscription-canceling applications, Rocket Money offers budget tracking and planning. The website boasts that over 3.4 million members saved over $245 million.

Budgeting & Expense Tracking Apps

Effective budgeting is key to financial stability. Budgeting apps can help older adults monitor their income, expenses, and savings goals.

• Simplifi by Quicken– ($47.85/year)

Ideal for creating a spending plan by analyzing income and expenses. Listed as the “Best Personal Finance App” – PC Magazine, and “Best Budgeting App” – NY Times Wirecutter.

• Monarch – ($99.99/year)

With Mint’s demise, many financial experts recommended Monarch as a good alternative. The site describes itself as “the all-in-one money app.” Forbes ranked Monarch as the “Best Replacement for Mint,” and the Wall Street Journal named it the “Best Budgeting App.”

Senior Planet offers many online classes to help your money go further! Try this April 11 class on Saving Money with Tech; bookmark our Finance page to stay on top of upcoming finance and money classes. 

Discount & Savings Apps

Saving money doesn’t always mean cutting back—it can also mean taking advantage of available discounts and cashback opportunities. If you want to save at the grocery store, check out Senior Planet’s article on digital coupons.

• AARP Now – (Free)

AARP members can access exclusive discounts on travel, dining, shopping, local events, and more. The app has a 4.8 rating with over 162K reviews.

• GasBuddy (Free/$9.99 monthly)

Launched in 2000, users locate the cheapest gas prices in their area and track fuel costs.

Retirement & Investment Apps

Building and maintaining a secure financial future requires smart investing and retirement planning.

• Acorns – ($3 – $12/monthly)

Saving money the easy way. The app rounds up user spending to the closest dollar and invests the leftover amount in various portfolios. In 2025, Acorns earned Investopedia’s “Best for Those Who Struggle to Save” award.

• investor.gov – (Free)

Investor.gov is the website of the Securities and Exchange Commission, designed to provide users with objective information, tools, and resources essential for navigating the investment landscape and safeguarding against fraudulent schemes and scams. The platform includes a dedicated section for older investors, addressing their unique concerns and needs.

Healthcare & Prescription Savings Apps

In 2023, the Centers for Medicare & Medicaid Services reported that healthcare spending for adults 65+ was 2.5 times higher than that of working-age adults.

• GoodRx – (Free/19.99 monthly)

The platform compares pharmacies’ prescription costs and provides discount vouchers. The website advises users that they can “save up to 80% on prescriptions.”

• SingleCare – (Free)

Like GoodRx, this app helps users find lower prices on prescription medications. The site states the program is available at over 35,000 pharmacies.

YOUR TURN

What money management or budget apps do you use to cut or track expenses? Share your faves in the comments!

Deborah Reale is a digital marketing and communications consultant specializing in social media, analytics, content writing, and editing. Ms. Reale has written for Business Development Magazine, Construction Industry Today, and quoted in Investor’s Business Daily and the book Social Media in Action. She holds a bachelor’s degree in business management and a graduate degree in business administration.