Money Management Tutorials

Getting Started

Setting Up Alerts

Setting Goals

Setting Up Budgets

Eliminating Debts

Understanding Your Spending

Managing Transactions

Manage Your Cash Flow

Understanding Net Worth

Money Management Help
There are many types of online banking accounts, and not all are compatible with common aggregation methods. Money Management utilizes multiple aggregation sources and uses an aggregation engine to provide the best possible coverage, but when an unsupported institution is encountered, a manual account can be created in the Accounts View.
 
Here are some tips: 
  1. Check all the available account types listed under an institution when you search. Sometimes mortgage, savings, credit card, etc. accounts are listed separately. You might also have to search for the specific account (i.e., "Bank of America mortgage," as opposed to just "Bank of America").
  2. Verify your username and password with your institution to ensure your credentials haven't expired. Sometimes signing in can unlock a frozen account connection.
  3. Turn off complicated security preferences (such as CAPTCHA and picture passwords) on your institution's site.
  4. Allow your institution to accept third-party access by changing the preferences on their site.
  5. Make sure you aren't simultaneously logged in to your institution's site on another tab or browser.
  6. Make sure the software isn't waiting for your response to a security question.
  7. If a connection breaks, you may have to enter your credentials again.
  8. If these suggestions don't apply to your situation, please use the "Submit a Support Request" within Money Management.
Note: To manually add an account, click Add an Account and then click Add Manual Account at the bottom of the screen.
  1. Set up your account - Log in to your Online Banking and find the link for “Money Management”. 1st Source accounts will automatically begin syncing to Money Management.
  2. Add all accounts - Add additional accounts with other financial institutions to see your full financial picture. Add manual accounts for property, like homes or vehicles. You can also create manual accounts for accounts that are not supported or are broken.
  3. Categorize transactions - After all of your accounts have been added, open the Transactions View and review your transactions for accuracy. Transactions are automatically categorized for you, but they are not always accurate and may need to be re-categorized. Your changes will be applied to future transactions. You may want to enter additional details about your transactions; see “How do I manage my transactions?
  4. Create budgets - With your transactions correctly categorized, you can easily create budgets based on your actual spending history. Open Budgets and follow the instructions to generate a budget. You can also create a budget manually. See “How do I create a budget?”

Open the Accounts View and click on the account you wish to delete. Click on the trash can icon and confirm your decision to delete the account. You cannot delete an account from your primary institution, so the trash can icon will not be present. You can, however, exclude a primary account by clicking on [Exclude from App] in the transaction detail view. This will exclude the account and its transactions from being calculated into your budgets, spending etc.

Note that deleting an account also deletes all historical balance and transaction data associated with that account. Do not delete an account unless you are sure you are okay with losing all associated data.

Money Management will import 90 days of transaction history from 1st Source Bank. The amount of data that will be imported from other institutions depends on the institution.

After the initial account setup, Money Management will pull new transactions from the last 30 days, so you must sign in at least once every 30 days to avoid creating a gap in your data.

Some institutions send a separate transaction for principle paid and interest paid on a loan, but some institutions only send a single transaction for the total amount paid. If your institution sends a single transaction for principle + interest paid, you can split the transaction.

Click on the transaction to open the detail view, and click on [Split Transaction]. Use the Fees and Charges category to track your interest paid. You can add a custom subcategory for all your loan payments if you wish. You will need to obtain the amount spent on interest vs. principle from your financial institution.

Note: The debt account balance will always be accurate, as the institution sends us the remaining balance regardless of the transaction is displayed.

The Spending View displays your spending across all categories for the time period selected. Use the date range selector to specify what date range you would like to see.

You can click on a category from the list, or in the wheel, to see your subcategory spending. Then click the center of the wheel or from the list to see the specific transactions in the selected subcategory.

Note: Your transactions must be categorized for the Spending Wheel to show actual spending. If your spending in a given category looks wrong, review your transactions for inaccuracies.

The Transactions View provides an easy way to review or find transactions from any account, over any time period. You can use the date range selector to determine what time frame the transactions represent, or you can use the search field to filter by payee, account, tags, amount, category, or date.

To view more or edit the details of a transaction, just click on it. You can customize your transactions using the following features:
  1. Category – Categorize transactions so your spending will be accurately reflected in Spending and Budgets. Click on the category field and select the correct category from the dropdown list.
  2. Flags - Flag a transaction “B” for business-related, “P” for personal (default), or mark it with a flag to make it stand out in the transaction list.
  3. Tags – Create custom tags to label transactions for searching. For example, you may wish to tag tax-related expenses, or expenses related to a vacation or family goal.
  4. Memo – Add a memo when you need to remember special details about a transaction.
  5. Split – Split a transaction between multiple categories to account for specific amounts in Spending and Budgets.
You will create a manual account by doing the following:
  1. Select ‘Accounts’ from the top navigation bar
  2. Click on ’+Add an Account’ from the sub navigation bar or choose an account type from the bottom left menu to add.
  3. Click on ‘Add a Manual Account’
  4. Enter the current balance for the asset
  5. Enter an account name
  6. Select Property as the account type
  7. Click on Create this Account

Budgets Overview

When you first use Budgets, you have the option to either "Auto-Generate Budgets" or start from scratch. We encourage you to use the auto-generate budgets feature, which will create a starting budget for you based on your average spending in each category over the previous 90 days.

Once budgets are created, you'll see bubble budgets by default, but a list is also available. Click on the small list or bubbles icon at the top left corner of Budgets to toggle between the views.

The color of your bubbles indicates whether you are on track, nearing your budget limit, or over limit:

  • Green: below 80%
  • Yellow: between 80-100%
  • Red: over 100%

The size of your bubble represents the budget amount, relative to your overall budget. The larger the bubble, the more of your overall budget that category consumes. Budgets of subcategories appear as lighter-color bands around the edge of a budget.

Change months using the navigation bar above.

Click on the projected income bar to edit projected income.

Budget Details

Click a budget to view spending trends in that budget, add sub-budgets, or view budget transactions for the month.

Edit a Budget

  1. Click the pencil icon to edit or delete the selected budget.
  2. To delete a budget:
  3. Click on the budget bubble to open the detail view.
  4. Click on the pencil icon.
  5. Click "Delete [budget name]"
  6. Click "Delete" again to confirm.

Note that a parent category's budget won't decrease if you delete a subcategory budget.

List View

The list view allows you to see a detailed list of categories and subcategories. Here, you can quickly make budget edits without the need to navigate in and out of the budget details window.

The colored bars represent the status of your budget:

  • Green: below 80%
  • Yellow: between 80-100%
  • Red: over 100%

The left side of the screen shows a list of categories and corresponding budgets. Clicking a budget displays a list of child budgets, along with the amount you've used.

Click a budget to make changes. Click the budget amount to increase or decrease it.

A trash can icon will also appear to allow you to delete. After you click on the trashcan, click "Delete" in the pop-up screen.

Money Management Mobile is a streamlined version of the full Online Banking Money Management. The Mobile App version includes Accounts, Transactions, Spending and Budgets. Trends, Debts, Net Worth, Goals, and Cash Flow can be accessed by logging in to Online Banking using the browser on your mobile device.
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