Money Management is a feature of Royal Credit Union’s online banking and mobile app that can help you manage accounts at different financial institutions, track overall spending, set budgets, and more. Using Money Management can turn Royal’s digital banking platform into a one-stop shop for managing your finances – without the need to sign in to another platform!
How Can You Start Using Money Management?
To start using Money Management, first log in to online banking or our mobile app.
- In online banking, select the Money Management panel in the middle of the main screen to get started, or open the Manage Money menu and choose the Money Management item.
- In our mobile app, go to the More menu, then select the Money Management item in the Services section.
- Once you agree to the Terms & Conditions, Money Management will show information about your Royal accounts and loans. To learn how to link your accounts, manage budgets, and more, select the ? (question mark) menu.
- The ? (question mark) menu includes detailed how-to information for Money Management features, answers to frequently asked questions, and more.
What Can Money Management Do?
Money Management can:
- Connect to other financial institutions’ online banking services to import information from non-Royal financial accounts.
- Display and filter transactions and balances by account, by account type, and by financial institution.
- Show overall details like aggregate account balances, monthly spending across all accounts, and account trends over time.
- Track spending and income by category, with auto-categorization, custom categories, and category rules.
- Set up a budget, with options to automatically generate budgets based on past account activity and your transaction categories.
- View trends over time, with graphs of account activity by category.
- Identify debts, automatically import information about remaining balances, monthly payments, interest rates, and projected payoff dates for easy planning.
- Track your net worth over time, with aggregated information about assets and liabilities.
- Set and track progress toward custom goals, including savings, debt payoff, and retirement goals.
- Project cash flow based on your estimates of future expenses and income.
