Question 1

How do I track my spending across multiple bank accounts?

Accepted Answer

Moneytor connects all your Australian bank accounts in one secure dashboard using Consumer Data Right (CDR) technology. Simply connect your accounts through our secure Fiskil integration, and you'll see all transactions, balances, and spending patterns consolidated in real-time. You can also manually upload CSV files if you prefer to keep some accounts offline.

Question 2

What's the best way to categorise expenses for tracking?

Accepted Answer

Moneytor uses AI-powered categorisation to automatically sort most of your transactions into meaningful categories like groceries, utilities, entertainment, and more. You can customise categories and create your own tags. Our system learns from your preferences to get more accurate over time.

Question 3

How can I see where my money actually goes each month?

Accepted Answer

Our interactive Sankey flow diagrams show exactly how your money moves from income to different spending categories and savings. You can drill down from the big picture to individual transactions, compare different time periods, and spot spending patterns instantly. It's like having X-ray vision for your finances.

Question 4

Should I track every single transaction or just the big ones?

Accepted Answer

Track everything! Moneytor automatically captures all transactions when you connect your accounts, so there's no extra work. Small purchases add up quickly (that daily coffee can be $1,500+ per year), and seeing the complete picture helps you make better decisions. Our smart categorisation means you don't have to manually sort every purchase.

Question 5

How do I track finances when I have irregular income?

Accepted Answer

Moneytor's flexible approach works perfectly for freelancers, contractors, and business owners. Track your income patterns over time, identify your spending baselines based on your lowest months, and use our surplus months to build buffers. You can see cash flow trends and plan for seasonal variations in your income.

Question 6

How do I calculate my net worth in Australia?

Accepted Answer

Net worth is simple: everything you own (assets) minus everything you owe (debts). In Australia, this typically includes your home value, super balance, savings, shares, minus home loans, credit cards, and personal loans. Moneytor automatically calculates this by connecting to your accounts and letting you add assets like property and super manually.

Question 7

What should I include in my net worth calculation?

Accepted Answer

Include: bank accounts, investment accounts, super, shares, property values, vehicles, and valuable possessions. Exclude: household items, clothes, and anything that depreciates quickly. For property, use recent valuations or tools like CoreLogic. Moneytor helps you track liquid assets automatically and provides space for manual assets like property.

Question 8

How often should I check my net worth?

Accepted Answer

Monthly is perfect for most people. This gives you enough data to spot trends without getting caught up in daily market fluctuations. Moneytor updates your connected accounts automatically, so you can check your dashboard whenever you want without manual data entry. Many users like to review their net worth monthly alongside their spending.

Question 9

Is my net worth good for my age in Australia?

Accepted Answer

Australian benchmarks vary, but rough guidelines: 25-30 years old: $50k-150k, 30-40 years old: $150k-400k, 40-50 years old: $400k-800k. Remember, everyone's situation is different - location, career, family circumstances all matter. Focus on your personal progress: growing net worth over time is more important than comparing to others.

Question 10

Is Open Banking (CDR) safe to use in Australia?

Accepted Answer

Yes! Australia's Consumer Data Right is one of the world's most secure open banking systems. Banks can't see your passwords, data is encrypted, and you control exactly what gets shared. Moneytor partners with Fiskil, an ACCC-accredited CDR provider, and we're read-only (we can't move money). You can revoke access anytime through your bank or our app.

Question 11

How do I manage finances with multiple bank accounts?

Accepted Answer

Moneytor makes this easy by bringing all accounts into one view. You can see balances across all banks, track transfers between accounts, categorise spending regardless of which account it comes from, and get a complete picture of your financial position. No more logging into multiple banking apps or spreadsheets.

Question 12

Should I consolidate my banking or keep separate accounts?

Accepted Answer

Both approaches work with Moneytor! Many people like separate accounts for different purposes (bills, savings, spending money) - we show you the big picture regardless. Whether you have one account or ten, you'll see your complete financial story. Focus on what feels manageable for your situation rather than changing your banking structure.

Question 13

How do couples manage shared finances in Australia?

Accepted Answer

Moneytor's household features let couples and families share access to their financial dashboard. Each person can have their own login with different permission levels - from full access to view-only. You can see combined spending, shared goals, and individual contributions while maintaining privacy where needed. Perfect for modern relationships with varying approaches to money management.

Question 14

Should my partner and I combine our finances or keep them separate?

Accepted Answer

There's no right answer - it depends on your relationship and preferences. With Moneytor, you can have the best of both worlds: keep separate accounts but share visibility and tracking. You might combine some accounts (household expenses) while keeping others separate (personal spending). Our household features adapt to whatever approach works for you.

Question 15

How do we track household expenses fairly?

Accepted Answer

Moneytor helps you see who's paying for what and how much each person contributes to shared expenses. You can tag transactions as 'household', track things like groceries and utilities separately, and see contribution ratios. This makes it easy to balance things out at the end of the month or adjust who pays for what going forward.

Question 16

Is it safe to connect my bank account to finance apps?

Accepted Answer

When done through proper channels, yes. Moneytor uses Australia's Consumer Data Right system and partners with ACCC-accredited providers. We never see your banking passwords, can't move money, and use bank-grade encryption. Your data stays in Australia and is protected by Australian privacy laws. You control what gets shared and can revoke access anytime.

Question 17

What's the safest way to track my finances digitally?

Accepted Answer

Look for apps that use CDR (not screen scraping), keep data in Australia, use proper encryption, and have clear privacy policies. Moneytor ticks all these boxes: we're read-only, use bank-grade security, never store your banking passwords, and you can delete your data anytime. Always avoid apps that ask for your internet banking login details directly.

Question 18

How do I protect my financial data online?

Accepted Answer

Use strong, unique passwords with two-factor authentication, only share data through official banking channels (like CDR), regularly review your bank statements, and choose financial apps that are transparent about security practices. With Moneytor, your data is encrypted, stored in Australia, and you control exactly what gets shared and with whom.

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