Frequently asked questions
Frequently asked questions
Here you’ll find the answers to the most frequently asked questions about MyBudget and our services. If you can’t find what you’re looking for, please contact us.
What is MyBudget?
How much does MyBudget cost?
Who is the owner of MyBudget?
What makes MyBudget different?
Your budget stays on track because your bills, savings and financial goals are automated and managed within one powerful platform. You have all the benefits of visibility, structure, automation and control in the convenience of an app, plus the support of our money experts.
What services and solutions does MyBudget offer?
We do the heavy lifting that relieves money worries. Using income deposited into your MyBudget account, we pay your bills, set aside savings, and automate your finances so you can achieve your financial goals.
For those needing help with debt relief, we can look to see if we can speak with your creditors, negotiate payments and develop a tailored debt strategy. This may include debt consolidation, mortgage refinancing, a Part IX Debt Agreement, bankruptcy or affordably paying your way out of debt.
Do I qualify for MyBudget services?
During the initial chat, we will ask you some questions about your financial situation to assess your eligibility.
How are MyBudget appointments conducted?
What can I expect at a FREE MyBudget appointment?
Once we have this snapshot, we will connect you with your very own Personal Budgeting Specialist. We can arrange a time convenient to you (and your partner where relevant). At that session we create a complete picture of your 12-month budget plan that is yours to keep for FREE!
This budget plan provides you with a detailed understanding of how, together with the support of MyBudget, you can live a life free from money worries and achieve your financial goals.
Can I adjust my budget and access my money?
When you make a change to your budget, you’ll see your future forecast and payments update in real-time. New or unexpected expenses are easily added to your budget via our desktop or mobile apps or over the phone. Ideally, unexpected expenses will be covered by surplus savings. (We’ll help you develop a savings safety net.) If savings are not available, one of our money experts will help to adjust your budget so that the new expense fits.
It’s your money—you’re always in control—and we’re always here to help. Moving money between your MyBudget and personal accounts is done via bank transfer.
What time does MyBudget do transfers?
On every business day, MyBudget processes six payment runs (SA time):
Does MyBudget provide financial advice?
MyBudget is a budgeting, debt solutions, and money management service. We provide a range of structure and support services associated with managing your personal expenses. While we do hold an Australian Financial Services Licence (AFSL) and Australian Credit Licence (ACL), we are not financial advisors and offer general financial advice only. For personal financial advice or financial product recommendations, we recommend you seek the services of a licensed financial advisor.