Administrator
Administrator
120,085 Views
81 Comments (81 New)

shutterstock_108378377.jpg

 

One of the most active topics in the Member Community has been the My Budget tool. I would truly like to thank everyone who has posted feedback these past few months. It is because of your diligence about sharing your concerns that we are now able to present this featured interview with Richard Rohrbough, Director, Product Management. The below interview also includes an instructional video and an invitation to a LIVE chat with Richard to ask your questions (check the bottom of the post for date and time)! Keep your comments and feedback coming; they really are making a difference!

 

Briana: Let’s go back to the beginning. Tell us why My Budget was developed?

 

Richard: My Budget was developed in response to member feedback to provide a better day-to-day budgeting tool with many new capabilities that the now-retired Spending Plan didn’t have. We added in a requirement for the member to enter their income to help more accurately show what money a member has coming in, in addition to what is going out through transactions. We also added in 11 pre-determined top-level spending categories and complementary advice on how to improve your financial footing. Our thought in this is to help our members with a “starter budget” to then build on.
 
Briana: What types of technical issues have you worked to fix since the launch?

 

When we launched My Budget in June 2014, we did run into issues that we had not anticipated. We have addressed many of the technical issues such as not allowing members to save without balancing the budget, credit card payments showing twice, and eliminating duplication of subcategories. We are aware that we have some lingering technical issues and we are working to address those as quickly as we’re able.
 
Briana: Many of our members have also expressed disappointment in the new design and functionality of My Budget. How are we working to improve the experience of using My Budget?

 

Our team is looking at all of the feedback and is either in the process or has plans to address many of the suggestions. In the design of My Budget, we realize we also changed how our members use the Money Management tools. We have three short videos that can take you through how to add your non-USAA accounts, track your money and create a budget. Additionally, we created a short video to help with some of the common questions we’ve heard our members ask:

 

 

 

 
Briana: Tell us more about the LIVE chat you are having on My Budget?

 

We appreciate all of the feedback we have received from our members regarding the My Budget tool and appreciate hearing how we can help create better experiences and tools for you. For questions we haven’t had the chance to answer, we’d like to invite our members to participate in a live USAA Member Community chat on April 9th at 3pm eastern/2pm central. I’ll be hosting with you and Wendy Poling to help address member questions.
 
Briana: Thank you for taking the time to answer all the questions and for making the video.

 

We appreciate our members and we thank them for their loyalty. I hope to talk to as many of you as possible on April 9th.

 

 

LIVE Chat Details:

 

My Budget LIVE Chat with Richard Rohrbough
Date: April 9th, 2015
Time: 3:00 – 3:30 pm eastern / 2:00  – 2:30 pm central

 

 

 

216912 - 0315

81 Comments
Administrator
Administrator

AmberAmber,

 

I reached out to our MyBudget expert and this is something that they will be working on this month. We expect the release of this feature to be soon, within the next few months. We will surely keep you posted, thank you!

Regular Visitor

Greetings to all,

 

I set up subcategory loans in the major "debts" category.

 

The dollar amounts allocated to the subcategories are not being saved. 

 

When I save and go back into the debts category, the loans subcategory total is correct but the subcategory fields become empty again. Has anyone else experienced this? sample  below:

 

Budget Categories
Budgeted Amount
Debts
$
Credit Card Payments $
Loans $    2
    • A-1059-2749-1 $   0
    • A-1059-2749-2 $   0

Thanks,

 

Ruben

 

Contributor

Version:1.0 StartHTML:0000000167 EndHTML:0000002034 StartFragment:0000000544 EndFragment:0000002018

Hello all,

 

First, thanks to USAA for the budget tool.  I've been using it a lot and appreciate it.  I see in earlier posts the split feature is pending.  I'm looking forward to it.  

 

One frustration I've been having is the ability to quickly assign categories.  I get that it may take some time to fully process the transaction, but I would really like the ability to instantly assign a category as soon as the transaction shows up.  Currently, they just sit in Misc causing it to always show over budget until I can assign a cleared transaction to another category.  

 

Additionally, I often have transactions that don't fully process for days or weeks.  Sometimes, they will be assigned a category in the actual account transaction list, but not in the budget list of transactions.  I hope this glitch can be fixed.

 

Thank you very much,

Administrator
Administrator

Brad397ML,

 

I have passed along your comments to our MyBudget expert. I will post here if I have an update. Thank you!

Administrator
Administrator

Brad397ML,

 

I just wanted to follow up with the response by the MyBudget expert:

 

We are happy to hear that you are interested in the split transactions feature. This is something we hope to start working on before year-end.

 

This year we began to research allowing members to categorize transactions as soon as they appear in a members account summary. The MyBudget team does have solutions and a plan identified, the need is recognized and have started working on this. It will however be some time before it is available to members. 

 

The biggest reason that transactions may take days to post is because not every day is a bank processing day. We don't process transactions on weekends or holidays, so transactions from a weekend may not clear until Monday night/Tuesday morning.

 

 

One thing that concerns our experts is that you mentioned that sometimes a transaction will be assigned a category in the Account Summary page but not in the budget. The two should always be in sync, so if this happens again, please let us know and we can look further into the issue.

 

Thank you!

Contributor

Thanks for your reply.

 

The glitch where the account list and budget list do not match is quite common...at least for me anyway.  In fact, I currently have 4 charges from 1 Jul that have an assigned category in my account list, but not int he budget list, where they are still listed as "uncategorized" and in the unprocessed state so it will not let me assign a value.  

 

Earlier this month, I assigned those 4 items in the account list a different category just to see if the category would change in the budget list after a day or so.  When the 4 items in the budget list finally matched my nominal category, I went into the budget list and reassigned them to the proper category.  

 

The next day, I checked again, and those charges had changed back to "uncategorized" and unprocessed. So currently, they are assigned a category in the account list, but not in the budget list.

 

It's only a minor irritant, but there none the less.

 

Thanks for your help, and I hope this will help you track down the glitch.

Administrator
Administrator

Thank you for following up Brad, I will make sure the My Budget team receives your feedback! Please let us know if anything else comes up!

Regular Visitor

Hello Briana,

 

Have you shared my issue with your budget team?

 

I'll re paste here:

 

Greetings to all,

 

I set up subcategory loans in the major "debts" category.

 

The dollar amounts allocated to the subcategories are not being saved. 

 

When I save and go back into the debts category, the loans subcategory total is correct but the subcategory fields become empty again. Has anyone else experienced this? sample  below:

 

Budget Categories
Budgeted Amount
Debts
$
Credit Card Payments $
Loans $    2
    • A-1059-2749-1 $   0
    • A-1059-2749-2 $   0

Thanks,

 

Ruben

Administrator
Administrator

Hi Ruben,

Looks like you are experiencing one of the known issues that is currently being worked on. I don't have an ETA on the fix yet, but will keep you posted. Thank you for your continued comments! :)

Visitor

The inability to rearrange categories seems to be the biggest downfall of the USAA budgeting app. My current budget in USAA.com is completely out of whack because of this.  For me, I started with an excel spreadsheet long ago and I'd like to get my USAA data to match up with those categories.

 

I'd also like to be able to mass update the category of transactions in case I rename and reorganize my categories.