Get Your Finances Under Control with This Toolkit

Did our article on vacations last week have you dreaming but you know you can’t afford something yet?

It’s never too late to get control of your finances and start saving for the Third Age you want!

It’s also just not about the vacations. Did you know that over 25 million Americans aged 60+—or roughly 1 in 3 older adults—are economically insecure, living on incomes at or below 250% of the federal poverty level?

Feeling economically secure is what we all strive for, but it can definitely be a struggle for many of us. If you’ve struggled with your finances for most of your life, the National Council on Aging put together a helpful toolkit to help you.

The Savvy Saving Seniors® is a toolkit and handbook for others to hold financial workshops in their community, but we think the material is great to go through on your own if you’re wanting to learn how to have a healthier relationship with your money!

The Savvy Saving Seniors Toolkit

This free resource covers budgeting tips, money management, benefits of banking, budget busters to avoid, and how to find and apply for benefits.

This toolkit will help you to understand how to create a budget, including tips to watch your bank account more closely and keeping a spending diary. It’ll also walk you through the things you need to consider in your monthly budget like:

  • Current expenses
  • Health insurance
  • Prescription drugs
  • Property taxes
  • Phones
  • Using your home equity to stay independent
  • Senior discounts
  • Estate planning

You can even print the Savvy Saving Seniors handbook and work through it on your own, helping to get a better understanding of your current financial situation and what to avoid to stay in control of your finances.

If you have a bit of a rough relationship with money, we think this is the perfect resource for you to get started!

More Third Age Financial Resources

And if you want to delve deeper into your finances, we’ve covered a few awesome resources like the Know Yourself Money Assessment, Pralana Gold Retirement Calculator, Can I Retire Yet?, and Investopedia’s Your After Retirement Money Guide.