FAQs

The Wealth Management System consists of a suite of web-based applications and services that interface seamlessly with one another. These applications include the Debt Analyzer, Planned Spending System, Bill payer, and Financial Strategies (what if calculators). The Wealth Management System utilizes all of its product components to make a powerful automated system. This system is designed to accelerate your wealth by paying off all of your financial obligations including your mortgage at a rapid pace. All this is accomplished without paying anymore than you are currently paying.

Absolutely. Our entire purpose is to help you gain control of your finances. You are always in control and you can do whatever you would like with the money the system saves you. Whether you want to invest it, pay off your debt, or put it towards retirement it is entirely up to you.

No. Although everyone could benefit from the financial tools education and strategies within the WMA system, it may not be for everyone. We always recommend you consult with a licensed professional before you make any changes to your financial structure.

You are the only person who can authorize payments to be issued against your account. We do not have access to your account or credit card numbers.

No. You do not need to change Banks. We can work with your current Financial Institution to automate all of your payments. Our goal is to make the automation of your bills as simple as possible. You can explore the XLerate Bill Pay portion of the software to answer all of your Bill Paying questions.

A proven system that is simple, quick, mobile, and guaranteed to find you money! We hear over and over again about people going to seminars to hear the big financial experts and motivational speakers…to leave very excited and motivated (plus a lot of CD’s and books that quickly become lost or forgotten) but never a SYSTEM to do all the things that the speakers are saying to do. The #1 recommendation all Financial Experts give is to track your spending. If you don’t know where your money is being spent, you can never manage or control it. The Expense Tracker provides convenience, simplicity (no bells and whistles), and a simple way to speak expenses via any phone.

We provide a simple way to speak any expense via phone as you are away from your computer, it auto deducts from your spending plan, then immediately tells you how much you have left in that spending category for the month. All other expense tracking systems are historical – too late! By the time a user sits down to become a data entry clerk at the end of the month…they have already overspent! Same with credit cards…by the time you receive the statement, you have already overspent. The key to being successful is having the information at your fingertips and knowing where you are with your money and spending plan before you spend…that’s powerful!

- A willingness to get out of Debt! - A desire to make a change and feel the power of having control over your money. - A computer with internet access (and a phone if you want to call in any spending.) - No Software to download. - Time to “play around” with it

- Saved my marriage - I’m not the bad guy; the system tells us what’s left - Stop Arguing about Money - Get out of debt in 9 years or less – including home mortgage - Save 1-7% of gross income - Double – or even triple – retirement savings - Find, on average, an extra $300-$600 a month you are wasting and learn to live within your means…while having fun doing it! - Learn how to prioritize money so you can have anything you want - Eliminate money worries - Cut tax burden - Become more efficient with the money you are already making so you can become financially secure on any income - Enjoy the secure feeling of knowing that you are in control of your finances – for life

The Expense Tracker can only be listed under one person's name per account. However, you can give access to that account to multiple people by giving them your user ID and password if they are going to use the system online, or your user ID and the phone number to call in.

No. All upgrades will happen automatically and are free to you.

We recommend that you keep your businesses separate. This would mean buying another account for a second business. However, you can use the 'Other' fields for various business expenses. You just have to be sure to keep straight exactly how you have assigned your “Other” accounts by adding a description on the Current Spending Plan tab.

Please refer to the confirmation email you received right after signing up. In the center of the page, you will see your User ID and the phone number to call.

Yes. The phone number to program into your phone is on the confirmation email that you received right after signing up.

Absolutely. There may be times when the system can’t hear you (quality of the cell phone connection, noisy environment, speaker phone, etc.). You can then use your key pad to enter your User ID, the category number, amounts, and answer Yes or No. After you key in the number, press the # key. For amounts, enter dollars and cents with no decimal. For example, 1234 would be $12.34 or 4500 would be $45.00. For mileage, 123 would be 12.3 miles or 540 would be 54.0 miles. You can also press 1 for Yes and 2 for No.

Absolutely! You can type in your User ID, then press the category number. When asked for amounts, enter dollars and cents with no decimal. For example, 1234 would be $12.34 or 4500 would be $45.00. For mileage, 123 would be 12.3 miles or 540 would be 54.0 miles. You can also press 1 for Yes and 2 for No.

After the system asks for a category, say the category name or press the category number. When the system tells you your balance, say “Go Back” and you will be returned to the “which category” prompt. Using this process, you can quickly run through your balances.

You will need to refer to it as Other 1, Other 2, etc. The system is unable to distinguish what you have typed in as the description for the Other categories.

Changes can only be made online. The call-in system only handles deductions or additions to business expenses and mileage. Log in and go to the transaction tab. Find the transaction to change and either delete it or edit it.

In order to be IRS compliant, each business expense must have a date, amount, who, and purpose. The Expense Tracker will date stamp each call, you add the amount, and then you leave a description. You can say something like “I met with Bill at ABC Restaurant. We talked about my business.” Each time you call in a description, a sound file is captured on our secure servers and the filename is added to your transaction report under “description.”If you are audited or would like to order a yearly copy of all your audio transactions on CD for $25, call 1-800-665-6803.

No. If you click the ‘Edit’ button to change the Total Monthly Spending plan amount it will automatically change all category spend amounts – based on built in averages. Instead of changing the Total monthly amount, use the Edit button on each category heading to alter your Total Monthly Spending plan amount, one category at a time.

Click the icon to open a small window that will help you keep track of totals and difference as you edit each category’s spending plan or budget.

The number 1 recommendation from every financial “Guru” is to track your expenses. The point is then to spend less than you make and use the “Remaining” amount to pay-off debt, invest, save, etc. Use the “Remaining” balance amount as a critical monitor of your success.

You can use one of the ‘Other’ categories in another section and make a note that it is a fixed expense.

Not at this time. The Expense Tracker stores every transaction based on the category, whereas most banks (credit card, debit card, etc.) will store who you paid. For example, the bank will store “McDonalds, $3.55, September 12, 2008” versus The Expense Tracker will store “Meals, $3.55, September 12, 2008” and then we’ll tell you how much you have remaining in “Meals.” This makes it difficult to import incompatible data.

Yes. When adding an expense, change the date in the Add window or use the Transaction tab to edit an expense.

Click the Edit button next to the “Other” account you want to change. Instead of typing a new description, just press Save with the description left blank. This resets it to blank.

The Discretionary categories are ones that may change every month and are the hardest to track. Business categories are critical when you have a small/home based business. By using The Expense Tracker, you audit-proof your business and get the tax deductions you deserve. The Fixed categories typically don’t change much, if at all, from month-to-month.

Because we don’t know if you have business expenses, those are left as zeros. Click the Edit button to add to each category – watch your total spend amount.

Click the ‘Add’ button next to Mileage (under the Business section). You can enter whole numbers or decimals (i.e. 38 or 38.6). When calling, say “Mileage” then “34.5” then leave a description.

The Avg column averages all month’s totals since you started on The Expense Tracker. If you go back in time and add transactions, this will change the calculation of the Avg column as it will add the amount, then divide by the additional months before your start date.

Yes. You can either print this page or click the “Export To Excel” button in the top right corner.

Use the transaction tab to view all transactions for the past 90 days. Click ‘Edit’ on the transaction to change, choose a different category, and click save. You can also delete a transaction by clicking the red X.

Use the Transaction tab to view all transactions for the past 90 days. Select the month (year will default to the current year) to view all transactions called in or entered online.

Yes

The daily emails go out between 1:00 and 2:00 a.m. Mountain Time. They are coming from delivery@pmcworldwide.com with a subject line of “Daily Expense Tracker Report for [Date]”

Yes. On the "My Account" tab under "My Information" simply add any additional email addresses you would like the reports sent too.

Send email or text messages to text@TheExpenseTracker.com To request a “List” of categories, text or email the word List. 1-4 messages will arrive shortly with the complete category list. To request a balance — text or email a category number or name. For example, text the number 6 to see the balance for Gas. Text groceries to see the balance for Groceries. To enter an expense, follow this format: CategoryAmountDescription (separate each with a space). For example, 11 34.54 Lunch with James. This would enter a Meals expense of $34.54 with a description of Lunch with James. If you have a signature on your text or email, please add two hyphens or dashes (--) before your signature block. For example, you could send a text of 8 13.45 --make it a great day, Bill. This would deduct $13.45 from Groceries and the rest of the message would be ignored. NOTE: If you are setting up a PDA/Smart Phone Email account please add the requests to the email Subject Line.