A “smart” approach to budgeting?

For many seniors, retirement and/or unexpected medical expenses mean much stricter budgeting than ever before. The Cash Smartwatch promises to help you keep on track—we only hope it can save you enough to make up for its $140 price.

Essentially, it’s a spreadsheet packed into a watch. You put in what you’re spending throughout the day and it keeps a running tally of whether you’re meeting—or alas exceeding—your budget goals.

It reinforces your habits with messages that range from upbeat cheers (“Hell yeah, who’s a budgeting superstar”) or no-punches-pulled nags (“Take the damn bus”). Online, it syncs with a website full of budget planning tools and financial advice; some of which, unfortunately, is blithely impractical, despite the watch being the creation of financial writer Nicole Lapin.

We haven’t tested the Cash Smartwatch, so we can only say that for those of you already good at budgeting, it may be overkill. You’re likely already achieving what it promises with a pad of paper and a four-dollar pocket calculator. Of course, if you’re thinking of spending $140 on a smartwatch, you’re probably exactly the sort of person who needs this.

All of that said, it could make an ideal, albeit pricey, graduation gift for a child or grandchild new to the complexities of personal finances.

[youtube http://www.youtube.com/watch?v=9UIimihUqrI]