Personal Budgeting Plan, Money Management

What is MyBudget?

MyBudget is a personal budgeting service. We help people gain control of their finances and manage personal debt by assisting them with personal budgeting.

Is MyBudget a loan program?

No, MyBudget is not a loan program. Our aim is to help our clients break the debt cycle, not continue it. MyBudget helps to manage your finances to get you out of debt. MyBudget can very likely reduce your debts faster than you can on your own. As an independent third party, we’ve dealt with the same creditors for many years. We are often able to negotiate more affordable payment terms on your behalf because creditors have confidence in our systems and processes.

Will I lose control of my finances?

Absolutely not. When you become a MyBudget client you don't lose control of your money—you gain control of it. Your MyBudget personal budgeting plan is live and dynamic. If an emergency OR unexpected expense should arise, all you need to do is contact MyBudget. The new expense will be instantly incorporated into your budget plan. Any necessary adjustments TO your budget plan will occur automatically.

How do I know I will have enough to live on?

During your initial consultation, the very first things we focus on are your living necessities. We understand that a budget is only workable and sustainable if it meets your living requirements. As those needs vary, we can also alter your personal budgeting plan.

What if my expenses are greater than my income?

This is a very common scenario. We will negotiate with your creditors to obtain the lowest monthly payment obligation that fits within your personal or household budget.

What if I get an unexpected bill?

If an emergency or unexpected expense should arise, all you need to do is contact MyBudget. The expense will be covered by your contingency savings that are set up for this purpose or we will rework your budget to accommodate payment of the bill.

What bills can I include to be managed?

All of your financial obligations should be brought to our attention. This includes private loans from family and friends, one-off bills such as veterinary, car repairs, gap payments, as well as normal payments such as loans, credit cards, rent, electricity, etc.

Will bill collectors still call me and how do you help?

For the most part, collection calls will begin to stop as we contact your creditors and advise them we are managing your financial obligations. If a collector does call, just give them MyBudget’s telephone number and we will handle the rest.

Some companies promise to cut my bills in half. Do you?

Beware of companies that promise these sorts offers. Unless you are willing to enter into a Part 9 Debt Agreement, which has serious consequences for your long-term credit rating, no creditor is obligated to reduce what you owe them. We find that informal debt negotiations are usually a better option because they allow you to reduce your debt while protecting or restoring your credit rating. MyBudget has also developed a long history of trust with a large number of creditors. Creditors are usually willing to negotiate more affordable payment terms with us because they understand that we are managing all of your finances.

How will I know my bills are being paid?

You will still continue receiving statements from your creditors and MyBudget will provide you with a monthly progress report detailing all transactions made on your behalf. You may also register for secure online access to your personal budgeting plan. Our secure Client Website allows you to view your progress and transaction history at any time.

How much does it cost?

MyBudget fees are affordable. After all, we’re here to reduce your financial stress, not add to it. Our fees vary, depending on the number of creditors and payments included in your personal budgeting plan. There are no surprises. MyBudget’s fees are clearly specified in your budgeting plan. Most of our clients say that our fees are less than the cost of interest and late penalties they used to incur.

What is the benefit of using a MyBudget plan?

Stress relief and financial satisfaction—Many of our clients feel immediate relief and satisfaction as we begin managing their budget and guiding them towards their financial goals.

Live & dynamic budget—Your budget is a living instrument. As your life or situation changes so does your budget, automatically and without you having to worry about it.

Make the right financial decisions—You will be able to make the right financial decisions while maintaining total control of your spending.

Does MyBudget offer me financial advice?

No. We are not financial advisers. We never offer or sell you financial product advice and we offer recommendations only in relation to your budget and repayment plan.

How do I know my money is safe with MyBudget?

Since we began operating in 1999, MyBudget has successfully handled more than a billion dollars in salaries and literally millions of transactions. Down to the last cent, every transaction is subject to a strict daily reconciliation, rigorous processes and multiple levels of security controls. Our clients' money is protected by the same sort of security systems and practices used by other institutions in the banking and finance sector. Our commitment to security is demonstrated by the fact that we have never had a single act of misappropriation. For further peace of mind, you have secure online access to your MyBudget account 24 hours-a-day, 7 days-a-week so that you can track your account balance and payments history in real-time. You may also request a hard copy statement at any time at no cost.