The four parts
- Everyday and savings accounts: your everyday account, savings, and an offset account against a home loan if you have one.
- Credit cards: any card that bills or subscriptions come off.
- Investments: shares, exchange-traded funds, managed funds, property or crypto held outside super.
- Super: your super fund, and your partner’s if you have a partner.
What you’ll need
A name for each one. Pick the bank and a name like “CBA Everyday” is filled in for you. A balance today and whose it is are optional. An investment needs roughly what it is worth today. No account numbers are asked for.
Quicker than typing
On the everyday and credit card parts, members can choose Bring in a statement file (CSV). Download the file from your online banking, add the account as you bring it in, and its transactions come too. Back to your accounts returns you to setup.
If your membership includes bank connections, Connect your bank is there as well. You choose which accounts to bring in, say which of your accounts each one is, and can disconnect at any time.
Nothing is asked twice
Each part starts by listing what is already on file: accounts you added on Money, under Accounts or when you brought in a bank statement, and your Investments and Super, or a super balance you gave when you joined. Add only what is missing.
Stopping and coming back
Choose Come back later at any point. Everything you added is already saved. Get Started shows how far you are, for example “2 of 4 done. Still to do: credit cards and super”, and Carry on setting up opens the first part you haven’t done.
No credit card or no investments? Choose I don’t have any once and that part is done. Super can only be left for later, as nearly everyone who has worked has a fund. If you would rather not do this at all, choose Skip on the step in Get Started.
What changes once it’s done
- Every account and card shows on Money. Your accounts near the top says how many there are and takes you to the list.
- When you add a bill, you can say which account or card it is paid from.
- An everyday, savings or offset account with a dated balance gives your cashflow forecast its starting point.
- To keep a balance current, open the Accounts page: tap Edit to change it, Still right if it has not changed, or bring in a bank statement file to read it for you. An account your bank keeps up to date says From your bank. Assets shows the total and takes you there.
- Each account on the Accounts page says whether it is counted in your cashflow. Everyday, savings, offset and cash accounts and credit cards are counted; investments are not unless you choose; super never is. A card you have paid ahead on adds to the total and a card you owe on takes away from it, unless you already have a bill that repays the card, so the same money is not taken off twice. Choose Don’t count it to leave an account out, for example savings you never spend. If any bills are paid from an account you leave out, they are named on it, because your forecast still counts them going out.
- Your investments and super show with the rest of your money.
- Each credit card on the Accounts page asks once whether it includes travel insurance. Choose Yes and the card’s cover is added to Insurance, where every trip finds it. On a trip, card cover shows a Paid on this card tick, because card cover usually needs the trip paid on that card. No or Not sure is kept, and the card does not ask again unless you choose Change.