Frequently Asked Questions

Quick answers about how MyBudget works — from budgeting support to debt help. Can't find what you need? Call 1300 300 922.

About the service

What is MyBudget? A personal budgeting and money management service, operating in Australia since 1999. It builds you a personalised 12-month budget and can manage your bills and repayments for you.

Is MyBudget a financial adviser? No. MyBudget is not a licensed financial adviser and does not give personal advice on investments, superannuation, insurance or financial products. For that, speak to a licensed financial adviser.

Is MyBudget a loan? No. A MyBudget plan is not a loan and not a formal debt agreement. It organises your existing income, living costs, bills and repayments into a structured budget. Separately, MyBudget Loans can broker home and personal loans.

Getting started

What happens at the first appointment? It is free, confidential and takes about ten minutes. A Money Coach gets to know your situation and goals.

What do I get from it? A personalised 12-month budget built around your income, expenses and lifestyle. It is free and yours to keep, whether or not you go further.

Am I committing to anything? No. There is no obligation, and there are no long-term lock-in contracts.

Debt

What is a debt management plan? It organises your income, living costs, bills and debt repayments within a structured budget, personalised around what you can afford. It is not a new loan or a formal debt agreement — it is a practical way to manage existing commitments while reducing debt.

Can MyBudget talk to my creditors? Yes. The team can negotiate directly with banks and creditors to seek manageable repayments or reduced interest where possible.

Does MyBudget set up debt agreements? No. MyBudget is not a registered debt agreement administrator. If a Part 9 debt agreement appears suitable, MyBudget can connect you with its sister company MyDebtSolutions, which is a registered administrator.

Where can I get free debt advice? The National Debt Helpline on 1800 007 007 provides free, independent and confidential financial counselling.

The app

Can I see 12 months ahead? Yes. Unlike apps that only show past and current spending, MyBudget gives clients a personalised 12-month view of upcoming bills, projected balances and future cash flow.

Can I upload bills and documents? Yes, directly through the app, which keeps the information needed for your budget in one place.

How is it different from other budgeting apps? Most DIY apps are self-managed and show spending after it happens. MyBudget clients can see upcoming bills and projected balances twelve months ahead, have bills scheduled and paid, and get Money Coach support when life changes.

Fees

How much does MyBudget cost? There is no single fixed price, because the service is tailored to each situation. The first appointment and your 12-month budget are free. If you join, there is an establishment fee spread across your initial 12-month budget, plus an ongoing weekly administration fee — both shown in your proposed budget before you join.

Are there other fees? A schedule of incidental fees applies to specific requests. Under the MyBudget Fee Schedule, effective 16 October 2023, unbudgeted withdrawals are free, transactions processed immediately outside regular payment runs are $22.00, and the arrangements fee is $55.00 (AUD, including 10% GST). Fees are subject to change and you are advised of them at the time.

Still have questions?

Call 1300 300 922 or see the full FAQ categories covering budgeting, debt, credit cards, savings, goal setting, family budgeting, mortgages, the app and Bloom.

What is the MyBudget FAQs page about?

The MyBudget FAQs page provides answers to common questions about appointments, costs, budgeting support, debt help, and savings goals with MyBudget.

What topics does the MyBudget FAQ page cover?

According to the page description, the FAQ page covers questions about appointments, costs, budgeting support, debt help, and savings goals.

Who authored the MyBudget FAQs page?

The FAQs page is authored by Cheryl Hayford, as listed in the page's publisher metadata.

What can I do if I can't find the answer I need on the FAQs page?

The page description notes that if you can't find what you need on the FAQs page, MyBudget's friendly team is available to assist you and can be contacted directly.

Does MyBudget have additional FAQ resources beyond the general FAQs page?

Yes. Besides the general Frequently Asked Questions page, MyBudget also offers a Client FAQs page with details on getting started, account management, budget management, bill payments, savings access, health checks, and creditor arrangements, as well as specialized FAQs on topics like single parent budgeting, baby budgeting, debt solutions, and credit card management.

What does the Client FAQs page cover?

The Client FAQs page provides answers about getting started with MyBudget, account management (logging in, password resets, account updates), budget management (adding expenses, updating payroll details, modifying your budget), how MyBudget schedules and pays bills, requesting savings transfers, regular budget health checks, and what happens when MyBudget proposes new arrangements with creditors.

How can I contact MyBudget to book a free appointment?

According to the knowledge base, you can contact MyBudget's team at 1300 300 922 to book a free appointment.

What specialized FAQ topics does MyBudget provide besides general and client FAQs?

MyBudget provides topic-specific FAQs on single parent budgeting (managing finances on one income), baby budgeting (planning for baby expenses and parental leave), debt solutions (debt agreements, bankruptcy, and negotiation options), and credit card management (strategies for avoiding debt and managing repayments).

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