Tired of looking through multiple apps to track your finances? Try Money Management, our all-in-one finance app that allows you to view and manage all your accounts in one place. Accessible through your online banking dashboard or the BG Mobile app, Money Management can be connected to all your BankGloucester accounts as well as any external accounts you may have at other financial institutions.
Once linked, you will be able to view transaction history, payments, bills, and balances across all accounts. Get a complete overview of your finances and gain valuable insights by tracking cash flow, calculating net worth, setting financial goals, and developing a custom budget.
To access Money Management, first log in to your online or mobile banking dashboard. If you haven’t enrolled in online banking already, you will need to opt into the service before you are able to access your account.
Once you’ve reached your dashboard, navigate to the Manage Money menu item, then select Money Management. This will bring you to the Accounts tab which will display an overview of your connected accounts and their current balances.
Money Management allows you to connect all of your financial accounts including those at other financial institutions, you can even add loan accounts, and credit cards! To link a new account, click the “Add an Account” button located at the top right of the page. BankGloucester utilizes Plaid to securely connect to your accounts. Find your financial institution in the list and follow the prompts to verify the connection.
Once you’ve finished linking your accounts, they will then show up on the accounts screen, though it may take a few minutes to update balance information. If any of your accounts display a yellow exclamation mark, it means that additional steps may be required to complete the connection. Simply click on the affected account and follow the prompts to resolve the issue.
Now that your accounts are set up, click the Transactions tab to review activity across all of your connected accounts. To view activity for specific accounts, click on the “Filter Accounts” button on the top left of the page and select which accounts you want to include.
Use the Spending tab to view a breakdown of your transactions by category to give you an idea of where your money is allocated. To breakdown your finances even further use the Trends tab, which will display your categorized spending month by month, helping you to identify & track changes in spending habits over time.
The Debts tab shows a visual representation of your total debt over time. A list of each debt account details the balance, APR, current amount due, and the estimated final payment date if applicable for each.
To see a complete overview of your assets & liabilities, go to the Net Worth tab. Money Management automatically compares your assets to your liabilities and provides updated net worth information each month.
The Budget tab will help you create a personalized budget based on your transaction history by categorizing your transactions into expense groups like monthly bills, groceries, entertainment and more. To create a more detailed budget, you may choose to add custom sub-categories. The tool will then generate a bubble chart to help you visualize where your money is being allocated.
Money Management also makes it easier than ever to track long-term financial goals like paying down debt, saving for retirement and more. Navigate to the Goals tab to take the first step towards reaching your financial aspirations.