Here you'll find the most frequently asked questions about MoneyHero.
To use MoneyHero you first have to add your FIXED income and your FIXED expenses, this way you'll know the money you have left for the rest of the month (income - expenses).
Then you can set a monthly savings goal, with this you'll know the money available to spend in the month if you want to achieve your monthly savings goal (income - expenses - savings goal).
MoneyHero will automatically calculate the maximum money you could spend per day or per week if you want to meet your goal, this is a kind of "red line" that will help you not to go over and save.
Finally, all you have to do is add your VARIABLE expenses, or income, throughout the month, and that way you'll know your financial situation at all times.
It's important to know that for this saving method to be effective, you've to add your income and expenses FIXED in advance, even though these have not yet occurred, this does not matter since they're income or expenses FIXED that you know you are going to have yes or yes during the month (even if the day has not yet arrived).
In the list of expenses or income, you only have to move this expense or income to the left and press on the delete icon.
To delete all data, i.e. start from zero, there is the option "Restore all" in the "Settings" section. This option deletes all the data of the current month leaving everything at zero. Remember that this action cannot be undone and you have to be sure that you want to delete everything.
Adding income or expenses is as simple as pressing the + icon on the main screen. It's blue to add income and red to add expenses.
When you press, a screen will appear where you can indicate the amount, the description and you can also set the date, which can be the same day (default) or past or future dates within the same month.
To edit, in the list of expenses or income, you have to press on the element you want to edit, then just edit what you need and press the OK button.
MoneyHero does not allow at the moment to change the beginning and end of the month, that is to say, you could not establish the period of operation from the 10th to the 10th of the following month.
To see or add data in other months just go to the "Annual Summary" section and press on the specific month. When you press on a month, the app will show you the data for that month and everything you add or edit will be for the selected month.
Remember to press again on the current month to continue operating with the current month.
New: Now you can easily change month from the selector located on the main screen.
YES, you can see or add data in any month
Remember that when you add expenses or income of the FIXED type, these will automatically appear when a new month starts. This type of expense or income is "repetitive".
FIXED type expenses are those that are repeated every month and have the same amount, such as mortgage, rent, telephone fee or Netflix, etc.. These are expenses that you have every month and are only added once, they will automatically appear the following month.
FIXED-type income is the same as the income you have every month for the same amount, such as your monthly salary or paycheck. You only add it once, but you can also eliminate or edit the FIXED expenses at any time.
These are all eventual expenses or income, that is, they are not repeated in a fixed way every month. Examples: lunch in a restaurant, car fuel costs, buying clothes, a beer in a bar, an extra income, etc.
To change the date of an expense or income just press on that expense or income and then press on the top left icon containing the date. When you press you will see a calendar where you can choose the date you want within the same month.
Although MoneyHero operates on a monthly period, you can add weekly expenses or income, for example, if you receive your paycheck on a weekly period, you would have to add 4 incomes (one for each week) during the month.
The Couple Finance functionality allows you to manage your finances in common with your partner, that is, to control together those expenses that you have in common.
To use this feature you must first link your account with your partner's, for this you only have to indicate the email your partner uses (or will use) in MoneyHero, then your partner has to accept the invitation that will appear when you open the app.
Once the accounts are linked, either of the two may add "common" income or expenses. This option will appear when you are going to add an expense or an income.
All details of the couple finances will be in the "Couple Finances" section. You can always unsubscribe at any time if you don't want to continue using this feature.
Yes, when you register in MoneyHero you have 7 days to try the app, after that period, the app will ask you if you want to continue for FREE with the LITE version (with some limitations and with ads) or continue with the PREMIUM version without any limitation.
The PREMIUM version is a full version, without any limitation and without displaying ads. It also has preferential support.
The first 7 days you use the app you are using a PREMIUM version with some limitation.
The free LITE version does not have access to the sections "Where does my money go?" and "Global balance". It has a limit of 15 maximum movements per month and 8 for the "Finances in Couple" functionality. It also shows you ads, although not invasive.
To cancel your account, open the main menu and press on your email or name, a new list of options will appear in the menu, click on cancel account.