Budgets for Seniors on Social Security

VAuser
VAuser Member
edited November 23 in Budget and Planning Tools

Quicken Classic Deluxe seems to lack features that would be useful to senior citizens receiving Social Security benefits and who also use Medicare.

Specifically, the budgeting feature doesn’t allow for variable Social Security paydays, which for many, are based on birthdays and occur at varying times of any given month, e.g., 2nd, 3rd or 4th Wednesdays. Coupling this with prescription drug plans that have monthly premiums and annual deductibles along with prescriptions that have refills for multiples of 30 days can be a real budget bender. The staggered paydays also result in utility bills sometimes being due the day before payday in a month following one with a due date on or just after the previous payday.

Tagged:
2
Up
2 votes

Reviewed · Last Updated

Comments

  • Chris_QPW
    Chris_QPW Quicken Windows Subscription Member ✭✭✭✭

    For the budget if you want to predict any future spending you use reminders. And the reminders do allow for "2nd, 3rd or 4th Wednesdays" and for monthly and annual bills. But what is very restrictive is the paycheck reminder. It has never had the flexibility of the standard reminders. They really should fix that, but until they do (or if never do) use the standard reminder (splits) instead of the paycheck reminder.

    Signature:
    This is my website (ImportQIF is free to use):

    http://www.quicknperlwiz.com/

  • UKR
    UKR Quicken Windows Subscription SuperUser ✭✭✭✭✭

    Here's more detail about How to set up a reminder for 2nd, 3rd, 4th Wednesday of month
    (contains both Windows and Mac instructions. Mac users please scroll down a little)

    https://community.quicken.com/discussion/7863666/faq-how-to-record-social-security-income-customize-day-of-month-for-schedule

    Click "View Post" to see the entire discussion

Categories