Online money management can help you stay on top of things

online money management

Online money management not just for young

Terry Savage, The Savage Truth

January 22, 2017

“If the very word ‘fintech’ makes you flinch, you’re not alone.

A 2016 Federal Reserve study found that only 18 percent of people over the age of 60 use mobile banking services (vs. 67 percent between the ages of 18 to 29, and 58 percent ages 30 to 44). In fact, only about half of Americans over 65 own a smartphone or tablet, according to a 2014 Pew Research study.

It’s never too late to start learning to use smartphone technology. The immediate incentive is to learn texting so your children and grandchildren will stay in touch. You don’t have to give up your friendly flip-phone right away. Just ask your adult children for a smartphone with its own number on their family plan, along with a lesson in texting and Skype or FaceTime.

Your smartphone offers you the convenience of controlling your life as you move about your day. If you don’t have adult children nearby to teach you, contact your local senior center because many offer courses. Apple has free seminars in its stores.

Here are three steps to start using smartphone technology to manage important parts of your life. You may want to start learning the basics on your home computer, then you can graduate to using your smartphone to track your money, your meds and your life.

Online bill payment and account information: Stop writing paper checks and start using online bill payment. You can use your home computer and also download your bank’s app to your smartphone. Use official banking apps from your financial institution’s website or through Apple’s App Store. Most financial institutions have a link to a page with their official app where it’s described and can be downloaded, Nerdwallet points out.”

I downloaded my bank’s app two months ago and now I can deposit checks easily from home.  If you can take a picture with your phone, you too can make deposits without going to the bank.  It’s a fast, safe and easy way to deposit your Social Security or pension checks.  Just call your bank and they will help you get started.

Read more about online money management as well as tracking medical matters and budgeting

Terry Savage is a registered investment adviser and the author of four best-selling books.  She responds to questions on her blog at

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