MoneyBrilliant: The all-in wealth tracker for Australians (aka the Aussie Personal Capital)

After months of being frustrated with Personal Capital being limited to the US, I found the Australian answer for tracking all your investments, spending and bank balances – MoneyBrilliant!

It allows you to link all your accounts from regular banks, credit cards, superannuation funds and managed funds to the app using Yodlee (bank level security application). With this info, the app compiles and categorises all your income and spending transactions, providing you with both a broad overview of spending habits and detailed information about specific categories of spending. This is great for tracking where your cash is going. Along with general spending, changes to investments are tracked and compiled into an overview of your net worth.

You can also set up budgets and financial goals and track your achievement of this. I’ve only just started using it, but by automatically compiling and calculating my financial data, it will save me heaps of time and give me real-time info about how well I’m going towards achieving my goals.

Here is what you’ll see on the dashboard when you log in. You can add additional features, and up in the top right hand corner you can see drop down menus to do more in-depth analysis and planning.

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A little down the track I’ll update this based on more thorough usage. Check it out for yourself and let me know what you think!

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2 thoughts on “MoneyBrilliant: The all-in wealth tracker for Australians (aka the Aussie Personal Capital)

  1. Hey there, thanks for alerting me to this product – I’d never heard of it before.

    We currently use QuickBooks Online, which we get for free since my wife is a QBO ProAdvisor, and it works brilliantly. It doesn’t really track investments though, but I’m happy to just track them at cost and can easily check market values in our Westpac Online Investing accounts.

    I didn’t see anything about price for this product in your post though – does it cost anything? It says that it’s free on the website but where’s the catch?

    Like

    • Hey, I only recently stumbled upon it myself looking up fintech in Sydney. At the moment it is free, but I’m guessing they will either monetise it but adding additional features in a premium product or by selling insights to banks using collated data from users or targetting products to existing users. It has backing from AMP, so I’m guessing that AMP will use insights from customer transaction data put through the MoneyBrilliant app to help them better develop and market their products. BillGuard is a similar app which began free but now has a premium option. So at the moment MomeyBrilliant is great as an personal overall personal tracker but we’ll see down the line how they try to me money out of it and whether it stays brilliant!

      Liked by 1 person

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