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Did You Know? December 2021

by Stacy Wise | Dec 10, 2021

 

 

What is MyLife?

 

Written by Andrea Klinedinst, Compliance Assistant

 

With another year quickly coming to an end, it is time to start thinking about your New Year’s Resolutions. One popular resolution is to better manage finances, but it can be hard to keep up with this resolution when there is nothing to help you stay on track. Did you know with MNB’s online banking you can access MyLife, a Personal Financial Management Tool, that can help?


What is MyLife?

 

MyLife is a Personal Financial Management Tool, accessed through online banking, that can help you easily manage all your finances in one place. From the MyLife dashboard, you can access all of the great MyLife features that will help you keep track of your finances and stick to that New Year’s Resolution.


What are the MyLife Features?
  1. Accounts: With this feature, you can see all your accounts in one place, and you can even add your accounts from other institutions. You can add investment, mortgage, credit card, and other bank accounts to track across all the features of the MyLife tool.
  2. Transactions: This feature shows you transactions from all your accounts in one place. You can sort your transactions by date or type to make them easier to see, and you can even choose a specific time period to see your transactions in an easy to read graph. There is also a function that will let you export your transactions as a CSV file to review offline.
  3. Spending by Category: This widget breaks down your spending by type, so you can easily see what types of expenses you are spending the most on. You can also pick and choose which accounts to include in the widget to track your spending by individual account, a couple accounts, or see all your accounts at once.
  4. Net Worth: This widget shows you your assets and liabilities on one easy to read graph. From here you can add other assets and liabilities and track how your net worth changes from month to month.
  5. Budget Progress: With this feature, you can set up a budget and track your progress throughout the month. You can add alerts to track your spending targets, and you can see how much money you have available after your expenses are paid.
  6. Goals Progress: This feature allows you to set and track savings goals. First, you choose a topic; some of the options include paying off a credit card or saving for a house, college, or retirement. There is even a custom savings option, so you can save for whatever you need. Next, you set a date and a monthly payment, and then watch your progress as you save.
  7. Cash Flow: Here you can set up your bills and income to track the projected balance of your accounts. It provides a calendar that shows a monthly view of your bills and income and a daily balance on each of the days that have activity. It is a helpful feature to give you an idea of how much will be in your accounts on certain days of the month.

If you have questions about the MyLife tool or would like to set up a meeting for a demonstration, contact one of our Personal Bankers or Customer Service Representatives today!


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