Frequently Asked Questions

MyBudget works by creating and managing a personalised budget on your behalf, so your income is organised, your bills are paid on time, and your financial goals are built into a clear, structured plan.

When you join MyBudget:

• Your income and expenses are reviewed in detail

• A tailored personal budget is created to fit your lifestyle

• Regular bills and repayments are scheduled and paid on time

• Debt reduction strategies are implemented if required

• Savings plans are built to help you achieve your goals

• Ongoing budgeting support is provided by a dedicated Money Coach

MyBudget doesn’t just track money, we manage it. This helps reduce financial stress, prevent missed payments, and create consistency in how your money is handled.

Many clients say the biggest difference is the immediate relief they feel once everything is organised and under control, and that they wish they had joined sooner. With more than 25 years of experience and over 130,000 Australians supported, MyBudget focuses on helping people manage money confidently and live free from money worries.

MyBudget is one of Australia’s most trusted budgeting and money-management services. For over 25 years, we’ve helped more than 130,000 Australians create personalised budgets, get out of debt, build savings, and reach their financial goals. We combine expert money coaching with powerful custom technology to organise your expenses, pay bills on time and take the stress out of managing money. MyBudget can help you build a plan that supports your long-term financial wellbeing.

Every appointment to set up your personalised budget is completely free. If you decide to join, your fees will depend on the complexity of your financial situation and the level of support you need. Our mission is to improve financial wellbeing, so our fees are designed to be an affordable investment towards helping you achieve your financial goals.

MyBudget combines expert financial coaching with smart technology to give you a personalised money management system that makes budgeting easier. Unlike traditional budget apps or budget spreadsheets that you manage on your own, we help you organise bills, reduce debt, plan for future expenses, build savings and stay accountable. We can even negotiate with your creditors for you. With more than 25 years of experience, our team guides and supports you every step of the way so you can finally feel in control of your finances.

For more than 25 years, MyBudget has helped australians take control of their finances and build financial freedom. We go beyond creating a plan by managing payments, tracking progress and offering ongoing support from real people who care about your goals. It’s all about helping you live life free from money worries.

MyBudget offers a full range of money management services including, personal budgeting, debt management and savings plans. We help you create a personalised budget, set up a realistic money saving plan, pay bills on time, reduce credit card debt, manage cash flow, consolidate or negotiate debts, and build strong long-term savings habits. Our financial coaches work closely with you to support your goals and make managing money easier and more predictable.

Your MyBudget journey begins with an initial conversation with one of our Money Coaches. They will chat to you about your financial position and gain an understanding of the financial goals you want to achieve. 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 customised 12-month Personal 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.

Most Australians qualify for MyBudget because our service supports a wide range of financial situations, from managing everyday expenses to serious credit card debt, overdue bills or debt consolidation needs. At your free appointment, a money coach will review your income, debts, financial commitments and goals to confirm if MyBudget is the right fit. If you want budgeting help, debt relief options, or a clearer personal budget, we’re here to support you.

Yes, you can cancel MyBudget. There are no lock in contracts, and you are free to close your budget if you decide the service is no longer right for you. Before you cancel, we will make sure any remaining funds in your MyBudget account are returned to you and that you understand what will happen with your bills and debt repayments moving forward. Our goal is always to leave you in the best possible position, whether you stay with us or move on.

Yes. Your personalised budget balances credit card repayments with your lifestyle. MyBudget helps you pay off credit card debt while still budgeting for the things that matter to you. This ensures your repayment plan is realistic, flexible and sustainable long term.

Feeling overwhelmed by credit card debt is common. MyBudget reviews your full financial situation, explains your credit card debt solutions clearly and creates a simple payment plan you can follow with confidence. We help you understand your options and take control of your repayments.

No. You don’t need a loan to pay off credit card debt. MyBudget creates a realistic credit card repayment plan using your existing income. Credit card consolidation or loan options are only considered if they genuinely lower repayments and support your financial goals.

Many clients see their credit score improve because consistent on-time payments reduce missed or late repayments. A structured credit card payment plan helps rebuild your credit file, strengthens your credit report and supports your overall financial position as you pay down credit card debt.

Yes. MyBudget can contact your creditors, negotiate manageable repayment plans and help reduce collection calls. Clear communication with creditors supports a smoother credit card repayment process and allows you to focus on paying down your credit card debt without added pressure.

MyBudget creates a personalised credit card repayment plan that budgets your bills, lifestyle costs and debt in one place. This ensures your income is allocated correctly so you can pay off credit card debt faster without relying on credit again. Structured repayments help reduce stress and support long-term financial goals.

Absolutely. MyBudget’s plans are tailored to meet the needs of individuals and families, making it easier to save for future expenses like education, family vacations, and emergencies. So that you feel a high level of confidence that if any last minute expenses or bills arise, you have the savings there to cover them.

Yes. MyBudget helps you balance debt repayment and savings by creating a budget that aligns with your goals. Our approach ensures you’re paying down debt without sacrificing your ability to save.

Definitely. The MyBudget app provides a real-time view of your savings progress, upcoming bills, and spending, making it easy to track how much you’re saving over time.

Yes, we can help you set and achieve specific savings goals, whether it’s for a holiday, home deposit, or emergency fund. Our team will work with you to develop a realistic plan that fits your timeframe and budget.

Yes! MyBudget is designed to help reduce financial stress by giving you full control and visibility over your finances. Our goal is to simplify your money management so you can focus on your savings goals with peace of mind.

Mortgage stress generally refers to when more than 30% of your household income is spent on home loan repayments. At this level, it may become harder to cover other essential living expenses.

You’re likely in mortgage stress if:

• You’re worried about making your next mortgage repayment
• You’ve started missing or delaying payments
• You feel financially stretched even after cutting back on other expenses
• Your expenses are higher than your income
• These are common signs that you may be entering or already in financial hardship.

If your repayments fall into the “stress” or “danger” zone, it may be time to review your budget, negotiate with your lender, or seek professional support. MyBudget can help you build a personalised plan to reduce stress and take control of your finances. Call 1300 300 922 or get in touch online.

The first step in comparing your lending options is completely free and without obligation. You can book a free home loan health check or initial call with a MyBudget Loans specialist to review your current mortgage and explore how much you could save through refinancing, which is a great way to start taking the weight off your shoulders.

Yes. When you work with MyBudget, a team member will speak to your creditors on your behalf. They aim to set up manageable payment arrangements, which helps stop collection calls and eases the stress of dealing with multiple creditors on your own.

The MyBudget budgeting app is included in your MyBudget membership. While there is a cost to join MyBudget, the app comes at no extra charge. You’re not just getting an app, you’re getting a full budgeting system with expert support.

The MyBudget app for budgeting is exclusive to MyBudget clients because it’s fully integrated with your personalised budget plan we build for you. To access it, you’ll need to join MyBudget. From there, our team will work with you to build your budget and get you set up on the app.

Our app has a special Snap my Bill feature. You can securely upload documents such as payslips, bills, or receipts directly through the MyBudget app for budgeting. It’s a quick and secure way to keep your financial records up to date.

Debt consolidation can include unsecured debts such as credit cards, personal loans, medical bills and buy now pay later accounts. In some cases, debts may also be consolidated by refinancing a mortgage, which can offer a lower interest rate. MyBudget helps assess which options suit your situation and budget goals.

It can have a positive impact if you make regular payments, but missed payments could hurt your credit.

It starts with a quick, obligation-free chat with one of our money experts. In just ten minutes, we’ll talk about your goals and show you how a personalised budget can help you get ahead, pay down debt and save more. Your journey to living life free from money worries begins with that first conversation.

Our support includes personalised budgeting, debt repayment strategies, and financial coaching to help you manage cash flow. We provide ongoing assistance and adjustments to keep you on track toward your goals.

No. You stay in control at every step. MyBudget provides the guidance, tools, and support to help you make informed decisions, but you’re always the one in charge of your financial journey.

Yes. MyBudget specialises in helping people with various levels of debt. We’ll work closely with you to create a customised plan aimed at reducing debt, managing expenses, and building savings, no matter your financial starting point.

While financial advisors offer general financial guidance, MyBudget specialises in personal finance solutions focused specifically on budgeting and debt management. Our expert team will work with you to develop a clear and structured plan to get you out of debt faster and start saving.

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.

MyBudget provides tailored debt management plans to help you gain control over your finances. Our service includes a custom budget plan that suits your lifestyle with ongoing support to reduce debt, ease financial stress and help you achieve your financial goals.

No. We help people across a range of financial situations. Whether you’re looking to reduce debt or save more, our services are designed to make financial management accessible to everyone.

MyBudget helps people take control of their finances by creating a personalised budget, organising their bills and providing day to day money management support. We help reduce financial stress, manage debt, build savings and give clients a clear, structured plan for their financial goals. With over 25 years of experience and more than 130,000 Australians helped, our system provides stability, confidence and long term results.

No. MyBudget does not prepare or lodge tax returns. We provide budgeting guidance only. This checklist is designed to help self-lodgers stay organised and understand what documents they may need at tax time.

You can book a free appointment with a MyBudget Money Expert who will create a tailored budget plan based on your goals and lifestyle.

MyBudget is a budgeting, debt solutions and money management service, not a licensed financial adviser. We specialise in personal budgeting, debt help, cash flow management and savings plans to reduce money stress and help you work toward your goals. We do not recommend specific financial products or investments. If you need investment or specialised financial planning advice, we may suggest speaking with a licensed financial adviser while we support you with a strong personal budget and debt management plan.

Debt consolidation means combining multiple debts into a single loan or repayment arrangement. This can include credit cards, personal loans, buy now pay later accounts, or consolidating debts by refinancing a mortgage. Instead of juggling multiple repayments, you make one regular payment, which can simplify your budget, reduce fees and support a clear debt management plan. MyBudget helps you understand whether debt consolidation is suitable for your situation and how it fits into your overall budgeting and debt relief strategy.

When you join MyBudget, we ask your creditors to contact us on your behalf. Because of this, many clients experience fewer debt collector calls. We work with you to create a realistic repayment plan, organise overdue bills and show creditors your debts are being actively managed. While some contact may still occur, having MyBudget involved often provides reassurance and helps reduce stress and regain control.

MyBudget offers a range of debt solutions, including debt negotiation, payment plans, budgeting help for reducing credit card debt, support with debt consolidation, Part IX Debt Agreements, Part X Debt Agreements and Bankruptcy if necessary. Our Money Coaches help you understand your options, communicate with creditors, reduce fees where possible and build a clear financial plan to get you back on track.

If your expenses are currently higher than your income, MyBudget can help you stabilise your finances and reduce pressure. We review your entire situation, help you prioritise essential expenses, and explore debt management or debt relief options where needed. With a structured personal budget and expert guidance, we can help you regain control and work toward your financial goals one step at a time.

We offer flexible appointment options to suit your lifestyle. Most MyBudget appointments are held virtually or over the phone so you can get budgeting help from anywhere in Australia. For South Australian clients, in-person appointments at our office are also available. No matter the format, you’ll receive personalised financial coaching, budget planning support and a clear pathway to reaching your financial goals.

MyBudget was founded by Tammy Barton in 1999. Tammy created MyBudget to help Australians reduce money stress, get out of debt and build long-term financial security. Today, MyBudget is recognised as a leader in budgeting, debt solutions and financial wellbeing, and we have proudly supported more than 130,000 Australians on their journey toward financial freedom.

Absolutely. You have complete control and visibility of your finances. 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.

Your budget is working if your bills are paid on time, your savings are growing, and your debt is decreasing. You should feel more in control of your money and less stressed about unexpected expenses. Reviewing your budget monthly and adjusting for life changes ensures it stays aligned with your financial goals and personal circumstances.

Yes. A clear budget shows exactly how much extra money you can allocate toward debt payments each month. By paying more than the minimum on high‑interest credit cards or loans and avoiding new high‑cost credit, you reduce interest charges and shorten repayment timeframes. Budgeting to pay off debt improves your credit score and long‑term financial health.

If you live pay-to-pay, start by identifying your fixed expenses and minimum debt payments first. Prioritise essential costs, reduce discretionary spending temporarily, and automate even small savings contributions to build an emergency buffer. A realistic budget focused on stability and debt reduction can help improve cash flow and reduce financial stress over time.

The best way to set up a budget for beginners is to start simple and focus on awareness before fixing it all. List your monthly income, write down all essential expenses such as rent, utilities, groceries and loan repayments, then review and track discretionary spending. Set one clear savings goal and review your progress weekly. Using a Personal Budget Template or budget planner can make the process easier and more structured.

Yes, MyBudget helps Australians manage cost of living pressures by creating personalised budget plans, paying bills on time, negotiating with creditors and helping clients reduce debt and build savings. With structured budgeting support, many people feel immediate relief and gain confidence knowing their money is organised and working toward long-term goals.

Australians can make ends meet during a cost of living crisis by creating a realistic budget, prioritising essential expenses, cutting unnecessary costs and finding ways to reduce bills or boost income. Tracking spending, planning groceries, managing rent or mortgage payments and seeking budgeting support can help households regain control and reduce financial stress.

The cost of living still feels high because prices for essentials remain elevated, even though interest rates have begun to ease. While some mortgage holders are seeing modest repayment relief, Australians are still paying significantly more for food, rent, energy and insurance than they were a few years ago, and inflation remains above the RBA’s target range.

The cost of living crisis in Australia refers to the rapid rise in everyday expenses such as groceries, rent, fuel, utilities and mortgage repayments, which has outpaced wage growth for many households. Higher inflation, interest rate increases and housing shortages have made it harder for Australians to cover essential costs and maintain financial stability.

A personal budget reduces financial stress by providing visibility and control over income, bills, spending, and savings. Knowing exactly where money is going, having funds set aside for emergencies, and following a clear plan helps prevent reliance on credit, avoids missed payments, and creates confidence around short-term decisions and long-term goals.

Yes. MyBudget is designed to support working families managing childcare costs, school expenses, utilities, travel, and other irregular or unexpected bills. Personal budgets are built to account for both fixed and variable expenses, helping families stay prepared, reduce financial shocks, and plan confidently for future needs.

Many people feel immediate relief after joining MyBudget, often within the first few weeks. Simply having a clear plan in place, knowing bills are covered, and understanding exactly where their money is going can significantly reduce financial stress. This early sense of control is why many clients say they wish they had joined sooner.

It can. Some landlords may choose not to renew a lease, particularly in high-demand rental markets. Before making a request, consider how important it is for you to stay in the property and whether you’re prepared to move if negotiations don’t go your way.

If you can’t afford your rent, it’s important to act early. Contact your landlord or property manager as soon as possible, explore temporary rent relief or payment plans, and check whether you’re eligible for Centrelink Rent Assistance or other support. Seeking budgeting or tenancy advice early can help you avoid falling into arrears.

Yes. In most cases, landlords are not legally required to agree to a rent reduction. However, they must meet their obligations under tenancy laws, particularly around repairs and safety. If a property is not maintained or is unsafe, you may have stronger grounds to request rent relief or seek further advice.

The best time to ask for a rent reduction is when your lease is up for renewal, when there are unresolved repairs or habitability issues, or when local rental market conditions have softened. Requests are generally more successful if you can show evidence that the rent no longer reflects the property’s market value or condition.

Absolutely. Many couples choose to skip traditional gifts and focus on experiences instead. Valentine’s Day ideas at home, like a memories night or shared activity, can be more meaningful than gifts and are often better for your budget.

Yes. Talking about money and setting expectations before Valentine’s Day can help avoid pressure, disappointment and overspending. Agreeing on a budget together makes it easier to enjoy the day without worrying about the impact on your finances.

Some of the best cheap Valentine’s Day ideas include cooking at home, going stargazing, writing a handwritten letter, creating a personalised playlist or planning an indoor picnic. These affordable activities focus on connection rather than cost.

Valentine’s Day on a budget doesn’t mean doing less, it just means being more intentional. Simple ideas like a candlelit dinner at home, a movie night, a memories night or a shared experience can feel just as romantic as expensive plans, without the financial stress.

MyBudget is one of Australia’s most trusted budgeting and money-management services. For over 25 years, we’ve helped more than 130,000 Australians create personalised budgets, get out of debt, build savings, and reach their financial goals. We combine expert money coaching with powerful custom technology to organise your expenses, pay bills on time and take the stress out of managing money. MyBudget can help you build a plan that supports your long-term financial wellbeing.

Every appointment to set up your personalised budget is completely free. If you decide to join, your fees will depend on the complexity of your financial situation and the level of support you need. Our mission is to improve financial wellbeing, so our fees are designed to be an affordable investment towards helping you achieve your financial goals.

MyBudget combines expert financial coaching with smart technology to give you a personalised money management system that makes budgeting easier. Unlike traditional budget apps or budget spreadsheets that you manage on your own, we help you organise bills, reduce debt, plan for future expenses, build savings and stay accountable. We can even negotiate with your creditors for you. With more than 25 years of experience, our team guides and supports you every step of the way so you can finally feel in control of your finances.

A clear budget gives you confidence and control over your money. It helps you see where every dollar goes and how to make it work for you. With expert budgeting and money management help from MyBudget, you can stay on top of bills, reduce debt and start saving so you can live life with less stress and more freedom.

For more than 25 years, MyBudget has helped australians take control of their finances and build financial freedom. We go beyond creating a plan by managing payments, tracking progress and offering ongoing support from real people who care about your goals. It’s all about helping you live life free from money worries.

Your MyBudget journey begins with an initial conversation with one of our Money Coaches. They will chat to you about your financial position and gain an understanding of the financial goals you want to achieve. 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 customised 12-month Personal 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.

A complete personal budget should include all regular and irregular expenses, including rent or mortgage payments, utilities, groceries, transport, medical costs, insurance, school fees, subscriptions, debt repayments and long-term savings goals. MyBudget helps you identify hidden or seasonal expenses and build a complete financial plan so you are not caught off-guard by unexpected bills.

If you want more personalised help, MyBudget can guide you through building a tailored budget, managing bills and staying accountable to your goals. The webinar is a great first step, and our team can support you further if you choose.

The session teaches you how to set up a structure you can rely on throughout the year. You will learn habits that make budgeting easier, how to stay motivated and how to adjust your plan when life changes.

You will learn how to review your spending, map out your bills, create goals and plan your money across the year. The webinar focuses on building a personal budget that is flexible, realistic and supports the lifestyle you want.

It is ideal for anyone wanting a fresh financial start in the new year. Whether you have never created a budget before or want a better system that feels easier to follow, this session gives you clear guidance you can apply straight away.

This webinar guides you step by step through setting up your personal budget for the year ahead. Tammy and Rosanna share simple, practical strategies to help you understand your money, plan for goals and start the year feeling organised and in control.

Yes. MyBudget can contact your creditors, negotiate manageable repayment plans and help reduce collection calls. Clear communication with creditors supports a smoother credit card repayment process and allows you to focus on paying down your credit card debt without added pressure.

MyBudget offers a personalised, hands-on approach with a money coach who works with you every step of the way. Unlike many digital tools, we combine technology with human support to ensure you’re not only saving but also staying on track to reach your financial goals.

Yes! MyBudget is designed to help reduce financial stress by giving you full control and visibility over your finances. Our goal is to simplify your money management so you can focus on your savings goals with peace of mind.

The earlier, the better. Ideally, start as soon as you’re planning for a baby so you can build savings and reduce financial stress.

Yes, but it takes planning. Creating a budget before baby arrives, building a parental leave fund, and reducing non-essentials can make it doable.

Track your spending, reduce unnecessary expenses, create a budget using tools like MyBudget’s Personal Budget Template, and start saving now.

Yes, the MyBudget app lets you track your finances in real-time, even when you’re on rotation. This includes monitoring savings, expenses, and any upcoming bills, giving you full control over your finances wherever you are.

It starts with a quick, obligation-free chat with one of our money experts. In just ten minutes, we’ll talk about your goals and show you how a personalised budget can help you get ahead, pay down debt and save more. Your journey to living life free from money worries begins with that first conversation.

Our support includes personalised budgeting, debt repayment strategies, and financial coaching to help you manage cash flow. We provide ongoing assistance and adjustments to keep you on track toward your goals.

MyBudget combines an expert money coach with budgeting tools designed to give you full visibility of your finances. Our team is here to support you with expert advice that adapts to the unique needs of FIFO work.

Yes, we’ll work with you to balance short-term goals, like holidays or travel, with longer-term financial planning. This way, you can enjoy the benefits of FIFO income while building financial security.

Absolutely. We assist with setting up a long-term savings strategy, including retirement planning, that works within the framework of your FIFO schedule and income structure, helping you build a secure future.

We provide a personalised budget plan that adapts to your lifestyle. This plan gives you full visibility of your finances and helps you plan for the future, MyBudget reduces the financial stress that comes with irregular income.

Yes, MyBudget helps you make the most of high-income periods by creating a structured plan that ensures your money lasts between fluctuating income. This approach makes it easier to manage finances when you’re on or off rotation.

MyBudget understands the unique challenges faced by FIFO workers, such as irregular income and long periods away from home. We create a customised budget to ensure steady cash flow, covering both work-related and home expenses while helping you save.

MyBudget helps people take control of their finances by creating a personalised budget, organising their bills and providing day to day money management support. We help reduce financial stress, manage debt, build savings and give clients a clear, structured plan for their financial goals. With over 25 years of experience and more than 130,000 Australians helped, our system provides stability, confidence and long term results.

You can book a free appointment with a MyBudget Money Expert who will create a tailored budget plan based on your goals and lifestyle.

MyBudget is a budgeting, debt solutions and money management service, not a licensed financial adviser. We specialise in personal budgeting, debt help, cash flow management and savings plans to reduce money stress and help you work toward your goals. We do not recommend specific financial products or investments. If you need investment or specialised financial planning advice, we may suggest speaking with a licensed financial adviser while we support you with a strong personal budget and debt management plan.

If your expenses are currently higher than your income, MyBudget can help you stabilise your finances and reduce pressure. We review your entire situation, help you prioritise essential expenses, and explore debt management or debt relief options where needed. With a structured personal budget and expert guidance, we can help you regain control and work toward your financial goals one step at a time.

If debt consolidation isn’t suitable, alternatives include creating a structured personal budget, entering a debt management plan, negotiating with creditors, or working with a financial coaching service like MyBudget. These options can help reduce financial stress and provide debt relief without taking on new credit.

Debt consolidation loans commonly include credit card debt, personal loans, store cards, buy now, pay later accounts, and car loans. Secured loans may also allow you to refinance other debts, but it’s important to review fees, interest rates, and risks before combining debts.

Debt consolidation can temporarily impact your credit score due to a new loan application and hard credit inquiry. Over time, it may improve your credit score if repayments are made on time and no new debt is added. Consistent payment history and lower credit utilisation are key factors in long-term credit health.

Debt consolidation can be an effective way to get out of debt if it reduces your interest rates, simplifies repayments, and fits within a realistic budget. However, it is not the right solution for everyone. In many cases, budgeting support, a debt management plan, or creditor negotiation can be a safer and more sustainable way to regain control of your finances.

Yes. A personal budget helps families pay off credit card debt by giving every dollar a clear purpose, without requiring extreme cutbacks. Instead of removing lifestyle spending, a structured budget highlights where money is being unintentionally lost and reallocates it toward debt repayments, savings, and planned expenses. This approach makes debt reduction achievable while still supporting everyday family life.

Alternatives to bankruptcy include negotiated repayment plans, debt consolidation, financial hardship arrangements, and formal debt agreements such as Part IX or Part X agreements. Creating a clear, realistic budget is often a critical first step, as it helps you understand your cash flow, prioritise essential expenses, and manage debt without the long-term impacts of bankruptcy.

Yes, most people can continue working while bankrupt. However, if your income exceeds a set threshold, you may be required to make compulsory income contributions to your trustee during the bankruptcy period.

Most unsecured debts, such as credit cards, personal loans, and medical bills, are included in bankruptcy. Secured debts, like home loans or car loans, are not automatically included and may still need to be repaid if you wish to keep the asset.

In Australia, bankruptcy lasts for three years and one day from the date it is accepted. It remains on your credit file for a further two years and is listed on the National Personal Insolvency Index (NPII) permanently.

MyBudget is one of Australia’s most trusted budgeting and money-management services. For over 25 years, we’ve helped more than 130,000 Australians create personalised budgets, get out of debt, build savings, and reach their financial goals. We combine expert money coaching with powerful custom technology to organise your expenses, pay bills on time and take the stress out of managing money. MyBudget can help you build a plan that supports your long-term financial wellbeing.

Every appointment to set up your personalised budget is completely free. If you decide to join, your fees will depend on the complexity of your financial situation and the level of support you need. Our mission is to improve financial wellbeing, so our fees are designed to be an affordable investment towards helping you achieve your financial goals.

MyBudget combines expert financial coaching with smart technology to give you a personalised money management system that makes budgeting easier. Unlike traditional budget apps or budget spreadsheets that you manage on your own, we help you organise bills, reduce debt, plan for future expenses, build savings and stay accountable. We can even negotiate with your creditors for you. With more than 25 years of experience, our team guides and supports you every step of the way so you can finally feel in control of your finances.

Yes. Your personalised budget balances credit card repayments with your lifestyle. MyBudget helps you pay off credit card debt while still budgeting for the things that matter to you. This ensures your repayment plan is realistic, flexible and sustainable long term.

Feeling overwhelmed by credit card debt is common. MyBudget reviews your full financial situation, explains your credit card debt solutions clearly and creates a simple payment plan you can follow with confidence. We help you understand your options and take control of your repayments.

No. You don’t need a loan to pay off credit card debt. MyBudget creates a realistic credit card repayment plan using your existing income. Credit card consolidation or loan options are only considered if they genuinely lower repayments and support your financial goals.

Many clients see their credit score improve because consistent on-time payments reduce missed or late repayments. A structured credit card payment plan helps rebuild your credit file, strengthens your credit report and supports your overall financial position as you pay down credit card debt.

Yes. MyBudget can contact your creditors, negotiate manageable repayment plans and help reduce collection calls. Clear communication with creditors supports a smoother credit card repayment process and allows you to focus on paying down your credit card debt without added pressure.

MyBudget creates a personalised credit card repayment plan that budgets your bills, lifestyle costs and debt in one place. This ensures your income is allocated correctly so you can pay off credit card debt faster without relying on credit again. Structured repayments help reduce stress and support long-term financial goals.

Yes. MyBudget helps you balance debt repayment and savings by creating a budget that aligns with your goals. Our approach ensures you’re paying down debt without sacrificing your ability to save.

Yes! MyBudget is designed to help reduce financial stress by giving you full control and visibility over your finances. Our goal is to simplify your money management so you can focus on your savings goals with peace of mind.

Mortgage stress generally refers to when more than 30% of your household income is spent on home loan repayments. At this level, it may become harder to cover other essential living expenses.

You’re likely in mortgage stress if:

• You’re worried about making your next mortgage repayment
• You’ve started missing or delaying payments
• You feel financially stretched even after cutting back on other expenses
• Your expenses are higher than your income
• These are common signs that you may be entering or already in financial hardship.

If your repayments fall into the “stress” or “danger” zone, it may be time to review your budget, negotiate with your lender, or seek professional support. MyBudget can help you build a personalised plan to reduce stress and take control of your finances. Call 1300 300 922 or get in touch online.

The first step in comparing your lending options is completely free and without obligation. You can book a free home loan health check or initial call with a MyBudget Loans specialist to review your current mortgage and explore how much you could save through refinancing, which is a great way to start taking the weight off your shoulders.

Paying down debt on time through a structured budget can support your credit score over time. When repayments are managed consistently, your credit history benefits from on-time payments and reduced outstanding balances.

Yes. When you work with MyBudget, a team member will speak to your creditors on your behalf. They aim to set up manageable payment arrangements, which helps stop collection calls and eases the stress of dealing with multiple creditors on your own.

Pros

Debt consolidation simplifies your finances by combining multiple debts into a single loan, which often results in lower interest rates and monthly payments, helping to reduce financial stress.

Cons

While debt consolidation can reduce immediate payments, it may extend the loan term, leading to more interest over time. There can also be upfront fees, and it requires disciplined financial management to avoid accumulating new debt.

Debt consolidation can include unsecured debts such as credit cards, personal loans, medical bills and buy now pay later accounts. In some cases, debts may also be consolidated by refinancing a mortgage, which can offer a lower interest rate. MyBudget helps assess which options suit your situation and budget goals.

It can have a positive impact if you make regular payments, but missed payments could hurt your credit.

It’s ideal for those with multiple high-interest debts, like credit cards or personal loans.

Everyone’s financial situation and goals are different. That’s why our solutions are tailor-made for every client and our fees are based on the complexity and level of support you require with no lock-in contract.

MyBudget provides tailored debt management plans to help you gain control over your finances. Our service includes a custom budget plan that suits your lifestyle with ongoing support to reduce debt, ease financial stress and help you achieve your financial goals.

Yes. MyBudget can help you develop a debt repayment plan tailored to your FIFO income cycle, ensuring debts are managed responsibly without impacting your quality of life.

MyBudget helps people take control of their finances by creating a personalised budget, organising their bills and providing day to day money management support. We help reduce financial stress, manage debt, build savings and give clients a clear, structured plan for their financial goals. With over 25 years of experience and more than 130,000 Australians helped, our system provides stability, confidence and long term results.

MyBudget is a budgeting, debt solutions and money management service, not a licensed financial adviser. We specialise in personal budgeting, debt help, cash flow management and savings plans to reduce money stress and help you work toward your goals. We do not recommend specific financial products or investments. If you need investment or specialised financial planning advice, we may suggest speaking with a licensed financial adviser while we support you with a strong personal budget and debt management plan.

Debt consolidation means combining multiple debts into a single loan or repayment arrangement. This can include credit cards, personal loans, buy now pay later accounts, or consolidating debts by refinancing a mortgage. Instead of juggling multiple repayments, you make one regular payment, which can simplify your budget, reduce fees and support a clear debt management plan. MyBudget helps you understand whether debt consolidation is suitable for your situation and how it fits into your overall budgeting and debt relief strategy.

When you join MyBudget, we ask your creditors to contact us on your behalf. Because of this, many clients experience fewer debt collector calls. We work with you to create a realistic repayment plan, organise overdue bills and show creditors your debts are being actively managed. While some contact may still occur, having MyBudget involved often provides reassurance and helps reduce stress and regain control.

MyBudget offers a range of debt solutions, including debt negotiation, payment plans, budgeting help for reducing credit card debt, support with debt consolidation, Part IX Debt Agreements, Part X Debt Agreements and Bankruptcy if necessary. Our Money Coaches help you understand your options, communicate with creditors, reduce fees where possible and build a clear financial plan to get you back on track.

If your expenses are currently higher than your income, MyBudget can help you stabilise your finances and reduce pressure. We review your entire situation, help you prioritise essential expenses, and explore debt management or debt relief options where needed. With a structured personal budget and expert guidance, we can help you regain control and work toward your financial goals one step at a time.

The most effective alternative to Buy Now Pay Later is budgeting and planning ahead. Having a personal budget, savings plan or a Personal Budget Template helps you cover expenses without relying on short‑term credit. For those already juggling repayments, getting budgeting help or financial coaching can support debt management and help you work towards long‑term financial goals without relying on BNPL.

Buy now pay later can feel safer because it offers interest‑free instalments, but it still carries risks. Unlike credit cards, BNPL repayments are often deducted automatically and can be easier to lose track of. Missed BNPL payments can lead to fees, debt collection and negative credit reporting, which may impact your credit score just as credit card debt can.

Yes. Using BNPL can affect home loan or mortgage approval, especially if you have multiple BNPL accounts, missed payments, or regular BNPL spending alongside other debt. Lenders may factor BNPL into your overall financial commitments when assessing mortgage applications, which can reduce borrowing power or delay approval.

Buy now pay later activity can appear on your credit report, depending on the provider and the situation. While not all BNPL providers report positive repayment history, missed payments, defaults, or hard credit checks can be recorded by credit reporting bodies and seen by lenders. This information may affect how credit providers assess your credit score, borrowing capacity and future credit applications.

Yes. Many Australians pay off credit card debt without a personal loan by using budgeting, prioritised repayments, creditor negotiation and structured debt management support. In many cases, improving cashflow and reducing interest charges is more effective than taking on new debt.

BNPL can affect your finances long term by reducing cashflow, increasing reliance on short‑term debt, and making budgeting harder when multiple payment plans overlap. Used without limits, BNPL can contribute to ongoing financial stress and delayed debt recovery.

Feeling overwhelmed by credit card debt is common. MyBudget reviews your full financial situation, explains your credit card debt solutions clearly and creates a simple payment plan you can follow with confidence. We help you understand your options and take control of your repayments.

No. You don’t need a loan to pay off credit card debt. MyBudget creates a realistic credit card repayment plan using your existing income. Credit card consolidation or loan options are only considered if they genuinely lower repayments and support your financial goals.

Yes. MyBudget can contact your creditors, negotiate manageable repayment plans and help reduce collection calls. Clear communication with creditors supports a smoother credit card repayment process and allows you to focus on paying down your credit card debt without added pressure.

MyBudget creates a personalised credit card repayment plan that budgets your bills, lifestyle costs and debt in one place. This ensures your income is allocated correctly so you can pay off credit card debt faster without relying on credit again. Structured repayments help reduce stress and support long-term financial goals.

Yes. MyBudget helps you balance debt repayment and savings by creating a budget that aligns with your goals. Our approach ensures you’re paying down debt without sacrificing your ability to save.

Paying down debt on time through a structured budget can support your credit score over time. When repayments are managed consistently, your credit history benefits from on-time payments and reduced outstanding balances.

When you join MyBudget, we ask your creditors to contact us on your behalf. Because of this, many clients experience fewer debt collector calls. We work with you to create a realistic repayment plan, organise overdue bills and show creditors your debts are being actively managed. While some contact may still occur, having MyBudget involved often provides reassurance and helps reduce stress and regain control.

Staying motivated to save is easier when your goals are clear and progress is visible. Automatic transfers, regular reviews and separating savings from everyday spending can help make saving consistent and purposeful.

Whether to save or pay off debt first depends on your situation and interest rates. Many people benefit from building a small emergency buffer first, then focusing on reducing high-interest debt while continuing structured savings.

At MyBudget, we often suggest starting with a $1,000 emergency buffer as a practical first step. From there, many Australians choose to gradually build toward three to six months of essential living expenses over time, depending on their circumstances and comfort level.

A realistic savings goal reflects your income, expenses and current life stage. It should be achievable and aligned with what you want your money to support. For some people, that means building a small emergency buffer first. For others, it may be saving for a home deposit, holiday or long-term financial security. Regular review keeps it relevant.

You can use our Savings Goal Calculator to see how small regular contributions can grow over time.

Saving helps you prepare for future expenses, reduce financial risk and build long-term financial security. It creates a financial buffer so unexpected costs do not derail your progress and allows you to move toward your goals with confidence.

Yes. MyBudget can help you manage subscriptions by identifying recurring charges, setting up a personalised budget, automating bill payments and helping redirect savings from subscriptions you cancel or downgrade. This helps reduce ongoing costs and supports your savings and long-term financial goals.

You can find subscriptions linked to your credit card or bank account by reviewing your statements for recurring charges, direct debits and automatic payments, then matching them to subscription services or apps you recognise.

Subscriptions affect cost of living by reducing disposable income and savings capacity. Small recurring charges add up over time, making it harder to build emergency savings or manage rising everyday expenses.

The easiest way to manage subscriptions is to track them in a personal budget and set calendar alerts before renewal dates, so you can cancel or downgrade subscriptions before charges occur.

Auditing your subscriptions every three to six months is ideal, or whenever your income, expenses or financial priorities change.

No. Deleting an app does not cancel a subscription. You must cancel subscriptions through the App Store, Google Play, or the subscription service’s website to stop recurring charges.

For many Australians, side hustles are worth it in 2026 as a way to offset cost-of-living pressures, pay down debt, and build savings faster. The key is choosing a side hustle that fits your lifestyle, has realistic income expectations, and supports your long-term financial goals without adding unnecessary stress.

The best side hustles alongside a full-time job are flexible, low-time and location-independent. Popular options include freelance writing, virtual assistance, online tutoring, consulting, digital product sales, and eCommerce. These hustles allow you to control your hours and avoid burnout.

You generally need an ABN if you are running your side hustle as a business, issuing invoices, or earning income regularly. An ABN is also required if you register for GST. For occasional or hobby income, an ABN may not be mandatory, but having one can simplify tax reporting and payments.

Yes. All income earned from a side hustle must be declared in your Australian tax return, even if it is irregular or paid in cash. Side hustle income may increase your taxable income, but you can usually claim deductions for eligible expenses such as equipment, software, marketing, and home office costs.

Most Australians earn between $100 and $1,000 per month from a side hustle, depending on the time invested, skills used, and demand. Service-based side hustles like freelancing, tutoring, or consulting often earn $30–$100 per hour, while digital products and content creation may start slower but scale over time.

MyBudget is one of Australia’s most trusted budgeting and money-management services. For over 25 years, we’ve helped more than 130,000 Australians create personalised budgets, get out of debt, build savings, and reach their financial goals. We combine expert money coaching with powerful custom technology to organise your expenses, pay bills on time and take the stress out of managing money. MyBudget can help you build a plan that supports your long-term financial wellbeing.

Every appointment to set up your personalised budget is completely free. If you decide to join, your fees will depend on the complexity of your financial situation and the level of support you need. Our mission is to improve financial wellbeing, so our fees are designed to be an affordable investment towards helping you achieve your financial goals.

MyBudget combines expert financial coaching with smart technology to give you a personalised money management system that makes budgeting easier. Unlike traditional budget apps or budget spreadsheets that you manage on your own, we help you organise bills, reduce debt, plan for future expenses, build savings and stay accountable. We can even negotiate with your creditors for you. With more than 25 years of experience, our team guides and supports you every step of the way so you can finally feel in control of your finances.

Absolutely. MyBudget’s plans are tailored to meet the needs of individuals and families, making it easier to save for future expenses like education, family vacations, and emergencies. So that you feel a high level of confidence that if any last minute expenses or bills arise, you have the savings there to cover them.

Yes. MyBudget helps you balance debt repayment and savings by creating a budget that aligns with your goals. Our approach ensures you’re paying down debt without sacrificing your ability to save.

Definitely. The MyBudget app provides a real-time view of your savings progress, upcoming bills, and spending, making it easy to track how much you’re saving over time.

MyBudget offers a personalised, hands-on approach with a money coach who works with you every step of the way. Unlike many digital tools, we combine technology with human support to ensure you’re not only saving but also staying on track to reach your financial goals.

Yes, we can help you set and achieve specific savings goals, whether it’s for a holiday, home deposit, or emergency fund. Our team will work with you to develop a realistic plan that fits your timeframe and budget.

Yes! MyBudget is designed to help reduce financial stress by giving you full control and visibility over your finances. Our goal is to simplify your money management so you can focus on your savings goals with peace of mind.

MyBudget helps you increase your savings by creating a structured plan around your income, expenses and financial goals. Instead of saving whatever is left over, we allocate money intentionally and provide ongoing support so you stay consistent. Over time, this structure makes saving more predictable and sustainable.

Track your spending, reduce unnecessary expenses, create a budget using tools like MyBudget’s Personal Budget Template, and start saving now.

Absolutely. In addition to debt management, we help clients build sustainable savings habits to work towards future goals like owning a home, holidays, or emergency funds, based on a realistic budget plan.

Absolutely. Our team works with you to establish an emergency fund as a safety net, which is especially important for FIFO workers who may face sudden job changes or extended time between contracts.

MyBudget helps people take control of their finances by creating a personalised budget, organising their bills and providing day to day money management support. We help reduce financial stress, manage debt, build savings and give clients a clear, structured plan for their financial goals. With over 25 years of experience and more than 130,000 Australians helped, our system provides stability, confidence and long term results.

MyBudget is a budgeting, debt solutions and money management service, not a licensed financial adviser. We specialise in personal budgeting, debt help, cash flow management and savings plans to reduce money stress and help you work toward your goals. We do not recommend specific financial products or investments. If you need investment or specialised financial planning advice, we may suggest speaking with a licensed financial adviser while we support you with a strong personal budget and debt management plan.

Absolutely. MyBudget’s plans are tailored to meet the needs of individuals and families, making it easier to save for future expenses like education, family vacations, and emergencies. So that you feel a high level of confidence that if any last minute expenses or bills arise, you have the savings there to cover them.

Absolutely. In addition to debt management, we help clients build sustainable savings habits to work towards future goals like owning a home, holidays, or emergency funds, based on a realistic budget plan.

Yes. MyBudget helps clients plan for school fees by building them into a personalised budget and setting up a dedicated savings stream in the background, so funds are ready when invoices arrive and financial stress is reduced.

If you’re struggling to afford school fees, contact the school early to discuss payment plans or hardship options. You may also be eligible for government concessions or state‑based assistance that help reduce education costs.

How much you need to set aside depends on whether your child attends a public or private school. Based on Finder’s 2026 national school fee averages, public school families can typically budget around $32 per month for primary students and $64 per month for secondary students, while private school families may budget closer to $618 per month for primary and $1,093 per month for secondary. Spreading costs evenly across the year makes school fees easier to manage.

Budgeting for school fees in Australia starts with upfront budget planning. List all expected education costs for the year, then use a budget template or personal budget to divide the total across your pay cycle. Setting up a dedicated school fees savings stream turns that plan into a simple money saving plan that runs automatically.

Single parents often see clearer cash flow, fewer creditor calls, improved bill payments on time, and stronger savings after working with MyBudget. A tailored budgeting plan can help rebuild financial confidence, support emergency funds, and create stability that supports lifestyle costs and future financial goals.

A personalised budget shows exactly what you can afford, allocates income for bills, savings and essentials, and highlights opportunities to reduce debt and build savings. This structured plan helps single parents improve cash flow, reduce financial stress, and move toward long-term financial independence and goals.

Yes, MyBudget helps single parents manage unexpected expenses by creating a personalised budget that adjusts for irregular costs like medical bills or school fees. We help improve cash flow, plan for surprises, and build an emergency savings buffer so you can stay in control even when life throws curveballs.

Single parent budgeting starts with a realistic plan that lists all income sources (wages, government support, child support) and expenses. Prioritise essentials like rent, bills and childcare, build a small emergency fund, and adjust as costs change. A clear budget plan improves cash flow and reduces stress for single parent households.

Buying school supplies online can be cheaper for Australian parents when retailers offer bundle deals or online-only discounts, while in-store shopping can help avoid unnecessary extras. The cheapest option often comes from comparing both online and in-store prices before purchasing.

Australian parents can save money on school supplies by shopping sales early, buying in bulk, using school stationery list services, and checking what can be reused from previous years. Comparing prices online before shopping can also significantly reduce costs.

Australian parents are best to start budgeting for back to school in November or December. Planning early allows families to spread costs, take advantage of Black Friday and Boxing Day sales, and avoid last-minute price spikes.

A back-to-school budget should cover uniforms, stationery, school shoes, bags, technology, excursions and other hidden costs such as transport or camps. Australian parents should also allow a buffer for replacement items during the school year.

The average back-to-school costs in Australia vary by year level, but Australian parents spent an average of $2,671 per primary school child and $5,043 per secondary school student in 2024, according to Finder. These costs typically include uniforms, stationery, shoes and school tech like laptops or tablets.

Couples should get help with money when conversations feel stuck, stressful, or overwhelming. Professional budgeting support can help create clarity, manage bills, reduce financial stress, and align long-term goals.

Couples avoid money arguments by improving visibility and communication. Sharing budgets, planning for upcoming expenses, and holding regular money check-ins helps prevent surprises and reduces emotional reactions around spending.

Different money habits are common and usually shaped by upbringing and past experiences. Understanding each other’s money mindset helps couples compromise, reduce conflict, and create a system that feels fair to both people.

Couples should talk about money early in the relationship and revisit it regularly. Key moments include moving in together, sharing bills, taking on debt, or when financial stress starts affecting daily life.

You start by choosing a calm time and framing the conversation around shared goals rather than blame. Focus on how money feels, what you want to improve together, and what support looks like for both partners.

A complete personal budget should include all regular and irregular expenses, including rent or mortgage payments, utilities, groceries, transport, medical costs, insurance, school fees, subscriptions, debt repayments and long-term savings goals. MyBudget helps you identify hidden or seasonal expenses and build a complete financial plan so you are not caught off-guard by unexpected bills.

Absolutely. MyBudget’s plans are tailored to meet the needs of individuals and families, making it easier to save for future expenses like education, family vacations, and emergencies. So that you feel a high level of confidence that if any last minute expenses or bills arise, you have the savings there to cover them.

You may be eligible for Paid Parental Leave (PPL), Dad and Partner Pay, Family Tax Benefit, and Child Care Subsidy.

The earlier, the better. Ideally, start as soon as you’re planning for a baby so you can build savings and reduce financial stress.

From hospital costs and baby gear to nappies and parental leave income changes, the first year alone can cost anywhere from $4,000 to over $9,000.

Yes, but it takes planning. Creating a budget before baby arrives, building a parental leave fund, and reducing non-essentials can make it doable.

Start with the essentials: car seat, pram, cot, nappies, baby clothes, bottles, and feeding gear. Many items can be bought second-hand or borrowed.

Second-hand can save you hundreds. Just make sure items like car seats meet safety standards and haven’t expired.

Track your spending, reduce unnecessary expenses, create a budget using tools like MyBudget’s Personal Budget Template, and start saving now.

Use a combination of budgeting, government support, flexible work arrangements, and savings to extend your time at home.

If you want private care, make sure to sign up at least 12 months before falling pregnant to meet waiting periods.

Public care is covered by Medicare but may have fewer options for continuity of care. Private care gives more flexibility but comes with out-of-pocket costs and insurance requirements.

Yes, MyBudget helps you budget better, reduce debt, and free up money to make extra super contributions or save for the retirement lifestyle you want.

MyBudget’s expert Money Coaches help Australians build personalised budgets, manage bills, and create clear savings strategies to reach retirement goals with confidence.

According to ASFA’s October 2025 report, the average super balance has reached a record high of $172,000, reflecting stronger investment returns and steady growth from the rise to a 12% Super Guarantee.

The 2025 super changes, including the 12% Super Guarantee, Parental Leave Pay super, and higher transfer balance cap, mean greater long-term growth and fairer outcomes for most Australians.

For some Australians, yes. If you own your home and live modestly, $1 million can fund a comfortable retirement, but renters, frequent travellers, or those with higher health costs may need more.

Most Australians need around $595,000 for singles and $690,000 for couples to retire comfortably, assuming home ownership and partial Age Pension support.

Absolutely. We assist with setting up a long-term savings strategy, including retirement planning, that works within the framework of your FIFO schedule and income structure, helping you build a secure future.

MyBudget is a budgeting, debt solutions and money management service, not a licensed financial adviser. We specialise in personal budgeting, debt help, cash flow management and savings plans to reduce money stress and help you work toward your goals. We do not recommend specific financial products or investments. If you need investment or specialised financial planning advice, we may suggest speaking with a licensed financial adviser while we support you with a strong personal budget and debt management plan.

A balance transfer can help after the festive season if it genuinely lowers your interest rate, fits within your budget, and comes with a clear repayment plan that you can afford. Without changes to spending habits and cashflow management, balance transfers can lead to higher debt once interest‑free periods end.

The fastest way to recover from Christmas credit card debt is to get clear on your credit card balances, build a realistic budget, and prioritise high-interest credit card debt first. Combining a structured repayment strategy, such as the Debt Avalanche or Debt Snowball method, with reduced spending helps stop new debt while accelerating debt recovery.

MyBudget offers a personalised, hands-on approach with a money coach who works with you every step of the way. Unlike many digital tools, we combine technology with human support to ensure you’re not only saving but also staying on track to reach your financial goals.

The calculator estimates how your savings could grow over time based on your starting balance, regular deposits, interest rate, and investment term. It shows your final balance, total deposits, and total interest earned.

Yes. The tool can estimate how much interest you’ll earn on a term deposit by entering your starting balance, interest rate, and investment term.

Yes. You can enter an extra deposit amount (weekly, fortnightly, monthly, quarterly, or annually) to see how making regular contributions will increase your total savings and reduce the time to reach your goal.

Use your results to set savings goals, compare deposit strategies, or plan for a financial milestone. For expert help creating a personalised savings plan, call 1300 300 922 or get in touch with MyBudget online.

The calculator provides a reliable estimate, but results may differ slightly from actual savings because of assumptions made about month length, deposit timing, and rounding. Your bank may also use different formulas.

Yes. Interest is calculated daily and added to your savings balance monthly. This means you earn interest on both your initial deposit and any interest already earned, known as compound interest.

Mortgage stress generally refers to when more than 30% of your household income is spent on home loan repayments. At this level, it may become harder to cover other essential living expenses.

The calculator estimates your household’s monthly income (based on the pre-tax annual income you enter), compares it to your monthly mortgage repayments, and shows the percentage on a stress bar. Results above 30% are typically considered “mortgage stress”.

You’re likely in mortgage stress if:

• You’re worried about making your next mortgage repayment
• You’ve started missing or delaying payments
• You feel financially stretched even after cutting back on other expenses
• Your expenses are higher than your income
• These are common signs that you may be entering or already in financial hardship.

You should enter your own pre-tax annual income, and optionally your partner’s pre-tax annual income if you share mortgage repayments. The calculator then adds these together to estimate total household income.

No. The tool focuses on the ratio of your mortgage repayments to your household income. It does not consider other expenses such as food, bills, or lifestyle costs, which may also affect your financial comfort.

The calculator is designed to provide an indication only. It assumes stable income, does not adjust for tax, living costs, or future interest rate changes, and results may vary from how banks or lenders define mortgage stress.

It’s built by financial experts and designed for real Australian households, offering a clear layout that fits seamlessly with MyBudget’s budgeting system.

By showing where your money goes, a Personal Budget helps identify unnecessary spending so you can redirect funds toward savings or debt reduction.

Simply download the free file and enter your income and expenses. You’ll instantly see where your money is going and where you can start saving.

That’s perfectly fine. The MyBudget app is designed to be simple and intuitive, even if budgeting is completely new to you. And since you’re never alone with MyBudget, our team is always here to help if you have questions.

The user interface design of our budgeting app is clean and clear and lets you see your financial position at a glance on your smartphone. You’ll see clear dashboards showing your cashflow, savings, bills, and progress toward goals. The MyBudget app for budgeting makes it easier to understand your spending habits and see where adjustments can be made.

The MyBudget budgeting app is included in your MyBudget membership. While there is a cost to join MyBudget, the app comes at no extra charge. You’re not just getting an app, you’re getting a full budgeting system with expert support.

The MyBudget budgeting app sends helpful notifications for upcoming bills, payments, or budget changes. These reminders help you stay on top of everything and avoid missed payments.

Life changes, and your budget should, too. Any app for budgeting on your smartphone should help you visualise these changes clearly. Through the MyBudget app, you can easily notify our team if something changes. We’ll adjust your financial plan so you stay on track, even if your income shifts or new expenses pop up.

A budgeting app is a handy tool you can use on your smartphone or other smart device to help you track your income, monitor expenses, manage debt, save money, and plan for your financial goals. Some budgeting apps provide basic tools, while others offer real-time syncing with bank accounts and automated financial insights.

The MyBudget budgeting app is different. It connects directly to real humans coaching you all the way on a tailored financial plan. That means everything in the app is part of your actual budget, not just an estimate, giving you full visibility and confidence.

Choosing the right app for budgeting comes down to how much support you want, your financial goals, and the level of control you’re after. Consider these key factors:

• User-friendly interface: A budgeting app that’s easy to use on your smartphone, so you can track your money on the go.
• Device compatibility: Make sure it works on iPhones and Android smartphones.
• Security: Trust and security are essential when it comes to budgeting and managing your money on your smartphone.
• Goal tracking: The best apps let you set and monitor savings and debt goals with your budget.
• Insights and reporting: Visual tools and alerts help you stay informed.
• Ongoing support: If you want guidance, choose an app backed by real people.

With MyBudget, all of this is built-in. Our budgeting app combines automation and expert advice to give you a complete money management solution on your smartphone.

The MyBudget budgeting app is part of your complete MyBudget membership. Unlike DIY apps that require you to build a budget yourself, we create a tailored financial plan with you, and your app then helps you manage that plan every day.

You’ll see your income, bills, savings goals and spending limits all clearly laid out, plus you can contact your support team directly through the app whenever life changes.

The MyBudget app for budgeting is exclusive to MyBudget clients because it’s fully integrated with your personalised budget plan we build for you. To access it, you’ll need to join MyBudget. From there, our team will work with you to build your budget and get you set up on the app.

Whether you’re saving for a home, paying off a credit card, building an emergency fund or planning a holiday, the MyBudget budgeting app makes it simple. Your personalised budget includes these goals, and the app shows your progress in real-time.

Our app has a special Snap my Bill feature. You can securely upload documents such as payslips, bills, or receipts directly through the MyBudget app for budgeting. It’s a quick and secure way to keep your financial records up to date.

Debt reduction is a major reason why people join MyBudget. The app helps you keep your repayment plan on track, and your MyBudget team is here to help adjust things if needed. The budgeting app shows you exactly how much debt you’ve paid off and what’s remaining.

The MyBudget budgeting app is available on both iOS and Android smartphones. You can download it from the Apple App Store or Google Play once your MyBudget account is active. The app is optimised for mobile, making it easy to track your budget wherever you are.

You can log into the MyBudget App by using the email address linked to your MyBudget account. If you have forgotten your password, select the reset option and follow the steps. The app gives you full visibility of your budget, bills, savings and upcoming payments so you can stay informed and in control.

Absolutely. You have complete control and visibility of your finances. 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.

At MyBudget Loans, as your broker, we have access to a wide panel of lenders, allowing us to compare a diverse range of products and find the one that is perfectly tailored to your unique financial situation. On average, our clients save $10,000 in repayments per year by refinancing with us.

Mortgage stress generally refers to when more than 30% of your household income is spent on home loan repayments. At this level, it may become harder to cover other essential living expenses.

You’re likely in mortgage stress if:

• You’re worried about making your next mortgage repayment
• You’ve started missing or delaying payments
• You feel financially stretched even after cutting back on other expenses
• Your expenses are higher than your income
• These are common signs that you may be entering or already in financial hardship.

If your repayments fall into the “stress” or “danger” zone, it may be time to review your budget, negotiate with your lender, or seek professional support. MyBudget can help you build a personalised plan to reduce stress and take control of your finances. Call 1300 300 922 or get in touch online.

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Going directly to your bank limits you to one product. MyBudget Loans works with over 15 major Australian lenders (including NAB, Westpac, ANZ, and Pepper Money). We compare hundreds of products to see if we can find you a more competitive interest rate, saving you money and time. Our team finds the right loan that fits your budget plan, making the process stress-free.

Yes. MyBudget Loans can help with debt consolidation by exploring options to combine multiple unsecured debts, such as credit cards, personal loans and medical bills, into one simpler repayment. In some cases, consolidating debts by refinancing a mortgage may also be considered, as it can offer a lower interest rate. However, it’s important to be mindful that spreading short-term debts over a longer period can increase the total cost. We help you weigh up the options so any consolidation supports your budget and long-term financial goals.

The first step in comparing your lending options is completely free and without obligation. You can book a free home loan health check or initial call with a MyBudget Loans specialist to review your current mortgage and explore how much you could save through refinancing, which is a great way to start taking the weight off your shoulders.

MyBudget Loans specialises in helping homeowners and families simplify their debts and reduce monthly repayment pressure by finding better home loan refinancing solutions. Our team of experts is also equipped to help you secure competitive interest rates on new personal loans and construction loans, ensuring you get the right lending solution for your specific financial needs.

Bloom is MyBudget’s Employee Financial Wellness Program, designed to improve your team’s financial wellbeing through personalised budgeting tools, expert guidance and practical education. It helps employees reduce financial stress, build savings and manage money with confidence. Backed by MyBudget’s 25 years of experience and more than 130,000 Australians supported, Bloom gives workplaces a meaningful way to boost wellbeing, engagement and productivity.

Bloom focuses on financial wellbeing, which is one of the most common sources of stress for Australians. Unlike general wellness programs that focus on physical or mental health alone, Bloom tackles the financial pressures that often affect those areas. Powered by MyBudget’s proven budgeting system and 25 years of experience, Bloom delivers real, measurable improvements in employees’ financial stability and confidence.

Bloom benefits businesses by helping employees feel more financially secure, supported and confident. When financial stress reduces, productivity improves, absenteeism decreases and employees feel more focused at work. With MyBudget’s proven financial coaching and tools, your team receives practical support that strengthens workplace wellbeing and boosts overall performance.

No, Bloom is simple to implement. MyBudget manages the setup, onboarding and communication for you, making it easy to introduce into any workplace. We provide all the resources, support and guidance your team needs, so your business can offer meaningful financial wellbeing benefits with minimal effort.

Bloom includes access to personalised budgeting tools, expert financial education workshops, one on one financial wellbeing sessions and ongoing support from MyBudget specialists. Employees receive practical guidance to reduce debt, build savings, manage bills and plan their financial goals. The program is designed to improve long term wellbeing with tools that are easy to use and tailored to each person’s situation.

There is no cost to your business to offer Bloom to employees. The program is free for employers to provide, and employees gain access to MyBudget’s financial wellbeing tools and education. This makes Bloom a low effort, high impact way to support your team’s wellbeing without affecting your operating budget.

Offering Bloom to your employees is easy. Simply complete the enquiry form and our team will guide you through the setup process. We provide onboarding materials, communication templates and full support so you can introduce the program smoothly and start improving your team’s financial wellbeing right away.

Financial wellbeing is more important than ever, especially with rising living costs, increased debt levels and growing financial pressure on Australian households. Supporting employees now can reduce stress, improve focus and strengthen workplace resilience. With MyBudget’s proven approach, your team gets practical tools that make a meaningful difference to their daily lives and long term financial goals.

There’s no cost to your employer to offer Bloom, unless they choose to co-contribute. By making it available, they’re showing real care for your wellbeing and success. Studies show financially confident employees are more focused, engaged, and productive. It’s a win-win: you thrive, and so does your workplace.

Simply fill in the enquiry form on this page to contact the Bloom team. Our team handles everything, your free appointment, your budget plan, and your support. It’s simple, confidential and stress-free.

Bloom is powered by MyBudget, which has helped more than 130,000 Australians reduce money stress, get out of debt and build savings for over 25 years. Our approach is proven to improve financial wellbeing, and early Bloom participants report feeling more confident, more organised and more in control of their finances. The program delivers real, measurable outcomes for workplaces and employees.

Yes, you can cancel MyBudget. There are no lock in contracts, and you are free to close your budget if you decide the service is no longer right for you. Before you cancel, we will make sure any remaining funds in your MyBudget account are returned to you and that you understand what will happen with your bills and debt repayments moving forward. Our goal is always to leave you in the best possible position, whether you stay with us or move on.

Yes. MyBudget can contact your creditors, negotiate manageable repayment plans and help reduce collection calls. Clear communication with creditors supports a smoother credit card repayment process and allows you to focus on paying down your credit card debt without added pressure.

Our team provides flexible support to fit your needs. We’re available for regular check-ins and updates to ensure your plan remains effective and aligned with any changes in your financial circumstances.

You have access to our app which tracks all of your money securely in one place with 24/7 visibility.

No. We help people across a range of financial situations. Whether you’re looking to reduce debt or save more, our services are designed to make financial management accessible to everyone.

Your Client Success Coach will contact you shortly after your budget is created to guide you through the setup and make sure you feel supported from day one. They will check in with you regularly, review your goals and help you adjust your budget when needed so you stay on track and feel confident with your finances.

You can log into the MyBudget App by using the email address linked to your MyBudget account. If you have forgotten your password, select the reset option and follow the steps. The app gives you full visibility of your budget, bills, savings and upcoming payments so you can stay informed and in control.

You can provide your bill details during setup or anytime afterward. Share your bill information with your money coach and we will add it to your personalised budget, schedule future payments and make sure the correct amounts are set aside. This helps keep your bills organised and prevents missed or late payments.

If you need to change your payroll details, simply contact us and we will update the information for you. We will guide you through the correct documents and steps so your income continues flowing smoothly into your budget without interruption.

Utility bills often change, so we track your bill history and set aside a consistent amount in your budget based on your past usage. When the bill arrives, we review the exact amount and adjust your budget if needed. This approach ensures you are prepared for each bill even when the amount varies.

To amend any expenses in your budget, contact your MyBudget team through the app, by phone or via email. We will update your plan, review the impact on your upcoming payments and make sure your budget continues to support your financial goals.

If you need extra funds for living expenses, just let us know. We will review your budget, check your upcoming payments and allocate the additional amount where possible. Our goal is to make your budget flexible and supportive of your day to day needs.

You can request a savings transfer at any time through the MyBudget App or by contacting the team. We will review your upcoming bills to make sure accessing your savings will not affect your financial commitments. Your money is always yours and available when you need it.

MyBudget schedules and pays your direct debits by setting aside the correct amounts in your budget and making payments on time. We monitor your bill cycles and ensure funds are ready when each debit is due. This helps prevent missed payments, overdue fees and financial stress.

You can check your paid and upcoming bills anytime in the MyBudget App. You will see payment dates, amounts and statuses, giving you complete transparency. If you ever have questions, your MyBudget team can walk you through your payments and future schedule.

Yes. We regularly review your budget to make sure it still suits your income, bills and financial goals. These health checks help you stay on track, adjust to changes and make steady progress toward reducing debt, building savings and feeling more financially secure.

If MyBudget proposes new arrangements with one of your creditors, you simply need to provide the reference number and any documents we request so we can finalise the details. Our team will communicate with the creditor on your behalf, negotiate where appropriate and update your budget so repayments stay organised and manageable. This helps reduce your stress and ensures your debts are handled professionally and efficiently.

If you miss your payroll cut off, just let your Client Success Coach know as soon as possible. We will review your upcoming payments, adjust your budget where needed and help you stay on track. MyBudget is designed to be flexible, and our team will work with you to make sure your bills, savings and essential expenses continue running smoothly.

Yes. MyBudget is set up so that your budgeting, bill payments and debt management continue even if our physical offices need to close for a period of time. Our systems and teams can operate remotely, and your direct debits, transfers and scheduled payments are managed through secure technology. You can still contact us by phone or online, and your personalised budget, debt repayments and savings plan will continue to run as normal so your financial commitments stay on track.

If an emergency or unexpected bill appears, simply contact MyBudget by phone, through our app or via your online client portal. Your Money Coach will review your budget, look at your upcoming bills and savings, and help adjust your plan so the new expense can be covered where possible. This might include reshuffling payments, using part of your savings, or updating your money saving plan. Our aim is to reduce your stress and help you manage surprises without losing sight of your longer term financial goals.

On business days, MyBudget processes multiple payment runs so that transfers and bill payments are made regularly and on time. Currently, we process six payment runs each business day (South Australian time) at 7:45am, 10:15am, 11:45am, 2:15pm, 3:45pm and 4:45pm. This schedule helps ensure that your bills, transfers and payments are managed smoothly as part of your personalised budget.

Absolutely. You have complete control and visibility of your finances. 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.

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Working at MyBudget means joining a supportive, purpose-driven team that helps Australians improve their financial wellbeing. The culture is caring, collaborative and focused on growth, with training, coaching and leadership development to help you build a meaningful career.

MyBudget offers roles across client services, finance, tech, marketing, operations and leadership. With offices in Australia and internationally, there are opportunities to grow locally or globally. Team members receive ongoing training, development pathways and mentorship to build a long-term, purposeful career.

MyBudget offers flexible work options, wellness programs, lifestyle discounts, career development, and free access to the MyBudget service for you and your family. Employees enjoy a positive culture, supportive teams and opportunities to grow professionally and personally.

Yes. Another person can lodge a complaint for you, but MyBudget will need written authorisation confirming that you have approved them to represent you and communicate on your behalf during the complaint process.

Yes. All information you provide during the complaint process is protected under the same privacy, confidentiality and data-security standards that apply to all personal information held by MyBudget.

No. MyBudget’s complaint and dispute resolution process is completely free. You can make a complaint or request a review at no cost, and our team will work with you to resolve the issue through our internal complaints procedure.

MyBudget staff are trained to guide you through the complaint process and explain what to expect. If you need additional help or extra support, let us know and we will provide assistance to make the process as easy as possible for you.