Gemma K Xpx

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Verified Reviewer

Probably going to leave

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Original review May 07, 2023
I joined MyBudget just over a year ago as I was around $11K in debt and felt like I wasnt on top of my cc repayments - just the min each month. Set up - easy. Their charges - eeek, but I thought Id give them a year as see how I go. I have ADHD (impulse control with spending) and Im now $19K in debt and struggling to get by each month. I have asked for help but they dont offer another rebudgetting session - only personal loans - which I was not eligible for, even though they say that they would advocate for customers with debtors etc. None offered at all.
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Pros:
  • Good app
Cons:
  • Cost

User's recommendation: Don’t.

1 comment
Guest

Thanks for the heads up

Laura R Uos

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer

There is no customer service at all they have money you need today

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Because a technical issues I cant have access to my money I need I have a family to look after and elderly parents to care for Customer service call customer back have access to their money now
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Loss:
$280
Pros:
  • Good when it was working

Preferred solution: Get access to my money for my family today

Laura R Uos

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer

Can’t access my money

Because of technology faults for 6 days now we are not able to have access to our money over 13000 people in same situation We want action someone please call the client
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Pros:
  • Saving money
  • Good when it was working
Cons:
  • No access to your money

Preferred solution: Let the company propose a solution

User's recommendation: Be careful

Anonymous

Former Employee

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This company is ruthless spitting out staff left right and centre and staff also dropping off like flies due to the fact that they are so full of *** I worked here for some time and during my time I could not believe what happens behind closed doors. From the new enquiries team up in head office, lying, promising false hopes to clients on the phones just to get them through the door so it helps their stats, to management who are greedy, selfish and have no clue on how to run a company. This company is a complete joke and should be audited. This company prey on the vulnerable and take their money for a service they provide. Bankruptcy is one of them. Now sometimes client's finances may be in the red due to the fact that their fees are in there, take the fees out and their finances are in the positive, but yet staff are urged to send the BR just so they can cover our fees.. How ethical? Staff are required to work long long hours with no work life balance and their excuse is, "put the clients first" but when staff need time of due to being fatigued. They are told "if you cant handle it, then leave".. not one care for their staff. Staff are required to work during their lunch break and have to do two hours overtime just to get one hour in lieu. They made all staff sign a new contract, then amended the contract straight after? isnt that fraud? I would never recommend people work here unless you want to be chewed up and abuse.. Oh and the "big dog" Steve Bailey.. he does nothing all day, talk absolutely rubbish.. type of guy who has talked his way into things.. runs the show there and all day every day he just sits there watching motivational videos and does *** all. So much for supportive management.
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3 comments
Guest

Can confirm. 100% accurate account of what it’s like to work at MyBudget. And that description of Steve Bailey is absolutely spot on-he’s a big mouthed blow hard.

Zadrian Wxn

Obviously a sour puss. As I have never come across a more upfront company in my life.

They have protocols and behaviours above and beyond all else so I wish you well in your nasty comments because I will stand by this company and what they do. They change people’s lives for the the better and stand by everything they do.

Guest
reply icon Replying to comment of Zadrian Wxn

InexperiencedSpider200 is obviously an employee. I also used to work for them back in 2009-****, the poor attitude to overtime was present even then.

The prioritizing of their fees over their customers debts was an eye opener as I was asked to implement this by a director during my time there. Talk about NOT putting your customers first!

They were an awful company to work for back then and it sounds like they are still awful to work for. I am honestly surprised they have not been investigated yet.

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Zadrian Wxn

Anazing

Well I have read all of the review and did my diligence and took this company on board. Yes they charge fees and who wouldn’t as everyone has to make money. They helped me achieve goals I never expected and with their fees involved I couldn’t do it without them. I have left them 3 times thinking I can do better, but now returned 4th time and would never leave them again. I recommend everyone use them cause u will never achieve what u want without them
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1 comment
Guest

blah

Anonymous

MyBudget

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My partner and I have been with MyBudget for a year. We had a good run with them initially and they assisted us in getting out of debt and back on track with creditors. My partner works in a field where contract work is high and you have no guarantee of continuing based on funding so our income was constantly yo-yo'ing. This made it difficult to have any predictability, which is why we chose MyBudget hoping that they could ASSIST us in becoming more money-savvy with our budget. They taught us nothing. They more or less control your money by paying your bills for you and providing you with an 'allowance' for groceries/fuel etc. This was a huge learning curve and one we are thankful for as it has taught us to shop savvy and still have some funds left if we are careful. The downside is that you no longer can enjoy work lunches and drinks without the guilt. If you ask for extra money from YOUR budget, you are asked WHY and will be ADVISED on whether it a 'suitable' expenditure. Basically, I felt guilty and *** every time I bothered to ask. In an honest critique, their fees are incredibly high and not worth the service offered unless you are in severe debt and need the assistance - if you are willing to part with up to $50 a fortnight for the pleasure. They will take their fees before they pay your expenses, causing some of your expenditure to further expand to the point of uncontrollable and you need to beg them to negotiate on your behalf if you are getting daily calls from creditors. If you require assistance in speaking with your creditors, it will cost you an additional $45 PER negiotation. In a nutshell, it is not a 'peace of mind' when you are consistently checking your budget and calling/emailing to correct when MyBudget makes changes without warning. For instance, I had a payment that I needed to make on a specific date under an agreement, MyBudget honoured this and adjusted the budget accordingly until they suddenly changed it without warning and on the day agreed I had to call the creditor explaining why they were not receiving a payment on the date agreed. It was becoming exhausting and embarrassing as creditors would accuse me of using MyBudget as my hide-behind! For most of the year we were with MyBudget, I was consistently checking and changing a budget which really, I trusted to a third party to take care of - when it dawned on me - why was I paying crazy high fees on something I could easily do myself, saving myself almost $100 a month? Duh. The process of leaving is difficult as I cannot wait to have my income in my own control again. They will hang onto your income for 28 days, extracting as much of the fees they can before closing your service. If you take your income out (by changing your account details with your employer) beforehand, you will need to factor the fees into your new budget as they will charge despite doing zero work.
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Loss:
$1500
Reason of review:
Pricing issue

Preferred solution: Full refund

Anonymous
map-marker Sydney, New South Wales

Mybudget Financial Service Review from Sydney, New South Wales

We noticed out actual savings disappearing we couldn't work out were it was going to, though I'd ring my budget just to double check a few things thank god I did they had been paying our home loan $600 a month instead of weekly talk about fuming is a total understatement not only dos we get ourselves in more debt we had plans to go on a cruise beciase of their mistake we had to cancel this as well as my husbands 40th bday bash, they couldn't of cared less sorry is all they could muster up never been so disgusted in a company that is suppose to help people get out of debt not in more ....
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Reason of review:
Poor customer service
Anonymous
map-marker Brisbane, Queensland

My Budget Scam

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I think my budget sells the idea of hope that financial worries will be over. What they do is garnish your wages and charge you to pay your bills. 47 dollars a week plus a 1200 set up cost that is 3100 dollars for the first year.

The last thing someone in debt needs to do is pay someone to help them. It is really quite on the nose. ripping of the poor. The business owner makes 20 million per year on the poor and in debt.

Really a reliable friend could do this for you, apart from that there is alot of free help if you are in debt. Life Line, Salavation Army and St Vincent de Paul.

Hope this helps - don;t be scammed

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Reason of review:
Not as described/ advertised
6 comments
Zadrian Wxn

MyBudget does not garnish wages and don’t ever disrespect their services. Obviously u went to them for a reason and undid t like their outcome but you give them your own figures and sometimes you need to wake up to reality.

Maths don’t lie and the business is very confrontational with your own figures. If they can deliver what u can’t, invest in your future because it is worth it

Guest
reply icon Replying to comment of Zadrian Wxn

shill much

Zadrian Wxn

So tell me Without MyBudget and their fees, how much you Could save. They are the most ethical business I know

Guest

Agreed,

it came as such a disappointment to find out how much this service actually would be costing me.. its a rip-off.

Zadrian Wxn
reply icon Replying to comment of Guest-1046670

Sometimes reality is a kick but know there are some business and people who care and MyBudget is that

Zadrian Wxn
reply icon Replying to comment of Guest-1046670

The service will set u up for life. I know from personal experience.

Yes, it costs u, but smart people invest in their future and don’t worry about cost because look at what they help you with. Get over the negative *** and look at the positive outcone someone can bring to your life

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Oryan Kek
map-marker Adelaide, South Australia

WARNING DO NOT USE THEM

My partner and I used them. They almost made us lose our car and put us in more debt. They do not do what they say on the tv. Please people if you can go another way do so. Due to them we now have to do a part 9 debt agreement this is a government debt agreement that stops all interest accruing on the account. We now are more in debt then before, I have never been so angry in my life OH and they charge you to do this, and then when you ask to cancel the tell you it will be done in 28 days grrrrrrr
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Loss:
$3000
2 comments
Guest

I recommended My Budget to my Daughter she felt pressured into signing up. It’s going to be $38 per week plus $2,000 !!

My Daughter does not have this Money she went there looking for assistance for her to budget her money. She has been told & by the way this was only last Friday and it’s only now Monday & should she want to exit & she does it’ll cost her $1,200 !! For what ?? Please if anybody can Suggest how to get them off her case it would be really Appreciated.

Do Not Go Anywhere Near My Budget !!! PLEASE!!!

Guest

My view is my budget is a scam. They sucker desperate people with promises of helping with debt but don't actually do anything of the sort.

They just take your bills and your money and pay it for you, which is uselles - you can already do that via b-pay quicker and for Free.

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