WealthTrackr - Frequently Asked Questions

General Questions

What is WealthTrackr?

WealthTrackr is a comprehensive personal finance application that helps you track your assets, liabilities, and overall financial health. It provides advanced analytics, goal tracking, and multi-platform support across iOS, Android, Web, and Desktop platforms.

How is net worth calculated?

Net Worth = Total Assets - Total Liabilities

For example:

• Assets: $50,000 (bank accounts, investments, property)
• Liabilities: $20,000 (credit cards, loans)
• Net Worth: $30,000

Is my financial data secure?

Yes! The app implements multiple security layers:

• Data Encryption: All data is encrypted at rest using AES-256 encryption
• Biometric Authentication: Face ID, Touch ID, or fingerprint protection
• Local Storage: Your data stays on your device, not in the cloud
• Secure Storage: Uses platform-specific secure storage (Keychain/Keystore)

Which platforms are supported?

• iOS: iPhone and iPad (iOS 12+)
• Android: Phones and tablets (API 21+)
• Web: All modern browsers
• Desktop: macOS, Windows, Linux

Getting Started

How do I add my first financial item?

1. Tap the "+" button on the main screen
2. Choose "Add Asset" or "Add Liability"
3. Select a category (e.g., "Bank Account", "Credit Card")
4. Enter the name and current value
5. For assets, set the liquidity rating
6. Tap "Save"

What should I include as assets?

Include anything of financial value you own:

• Bank Accounts: Checking, savings, money market
• Investments: Stocks, bonds, mutual funds, 401k, IRA
• Real Estate: Home value, rental properties
• Vehicles: Cars, boats, motorcycles
• Personal Property: Jewelry, electronics, collectibles
• Cash: Physical cash, gift cards

What should I include as liabilities?

Include all debts and money you owe:

• Credit Cards: All outstanding balances
• Loans: Student loans, personal loans, auto loans
• Mortgages: Home mortgages, HELOC
• Other Debts: Medical bills, family loans, business debts

How often should I update my data?

Recommended Schedule:

• Weekly: Update bank account balances
• Monthly: Update all values, including investments and debt balances
• Quarterly: Review and adjust property values
• Annually: Reassess all asset values and goals

Features and Functionality

What are liquidity ratings?

Liquidity ratings indicate how quickly you can convert assets to cash:

• High Liquidity (Green): Available immediately or within days
• Bank accounts, cash, money market funds
• Medium Liquidity (Orange): Available within weeks to months
• Stocks, bonds, CDs, mutual funds
• Low Liquidity (Red): Takes months or years to convert
• Real estate, collectibles, retirement accounts

How do goals work?

Goals help you track progress toward financial objectives:

Goal Types:

• Net Worth Goals: Target a specific net worth amount
• Savings Goals: Save a specific amount by a date
• Debt Reduction: Pay off specific debts
• Asset Growth: Grow specific asset categories
• Custom Goals: Any financial objective you define

Goal Features:

• Progress tracking with visual indicators
• Milestone markers for large goals
• Automatic updates for linked categories
• Priority levels (High, Medium, Low)

What analytics are available?

Trends Tab:

• Net worth progression over time
• Asset and liability breakdown charts
• Growth rate calculations
• Peak value indicators

Insights Tab:

• AI-powered financial recommendations
• Performance metrics and ratios
• Improvement suggestions
• Risk assessment

Projections Tab:

• Future net worth forecasts
• Multiple scenario modeling
• Goal achievement timelines
• Confidence intervals

Analysis Tab:

• Comprehensive financial health score
• Component breakdowns
• Benchmark comparisons
• Detailed metrics

Can I export my data?

Yes! Multiple export options are available:

Report Types:

• Financial Statement (current position)
• Trends Report (historical analysis)
• Analytics Summary (health assessment)
• Comprehensive Report (all data)

Export Formats:

• PDF reports (professional formatting)
• CSV data (spreadsheet compatible)
• Excel format (with charts)
• Chart images

How do I backup my data?

1. Go to Settings → Backup & Restore
2. Choose "Create Backup"
3. Select backup location (device or cloud)
4. Choose data types to include
5. Set automatic backup schedule (optional)

Restore Process:

1. Go to Settings → Backup & Restore
2. Choose "Restore Backup"
3. Select backup file
4. Choose merge or replace options
5. Confirm restore

Technical Questions

Why isn't my net worth updating?

Check these common issues:

1. Data Entry: Ensure all values are entered correctly
2. Categories: Verify items are in correct asset/liability categories
3. Sync Issues: Pull down on the main screen to refresh
4. App Restart: Close and reopen the app
5. Recalculation: Settings → Advanced → Recalculate Totals

The app is running slowly. What can I do?

Performance Optimization Steps:

1. Free Up Memory:

• Close other apps
• Restart your device
• Ensure 1GB+ free storage

1. App Maintenance:

• Archive old, unused financial items
• Clean up unnecessary categories
• Update to the latest app version

1. Check Performance:

• Settings → Advanced → Performance Monitoring
• Review memory usage and database performance

Note: All values should be entered and will be displayed in US Dollars.

Data Management

How do I organize my financial items?

Use Categories Effectively:

1. Built-in Categories: Use provided categories when possible
2. Custom Categories: Create specific categories for your needs
3. Consistent Naming: Use clear, consistent names for items
4. Regular Cleanup: Archive or delete outdated items

Category Management:

• Settings → Category Management
• Add, edit, delete, and reorder categories
• Separate asset and liability categories

Can I merge or split financial items?

Merge Items:

1. Create a new item with combined value
2. Delete the individual items
3. Update the name to reflect the merger

Split Items:

1. Create multiple new items with split values
2. Ensure split values add up to original
3. Delete the original item

How do I handle joint accounts?

Recommended Approaches:

1. Full Value Method: Include full value if you're the primary tracker
2. Split Value Method: Include only your portion (50% for joint accounts)
3. Separate Tracking: Each person tracks their own portion

Important: Be consistent with your chosen method across all accounts.

What about retirement accounts I can't access?

Include Them! Retirement accounts are still assets:

• Use current balance from statements
• Set liquidity rating to "Low"
• Consider them in long-term net worth planning
• Update quarterly with statement values

Goals and Planning

How do I set realistic financial goals?

SMART Goal Framework:

• Specific: Clear, well-defined objective
• Measurable: Quantifiable amount or percentage
• Achievable: Realistic given your situation
• Relevant: Aligned with your financial priorities
• Time-bound: Clear deadline

Example Good Goals:

• "Increase net worth by $10,000 in 12 months"
• "Pay off $5,000 credit card debt by December"
• "Save $15,000 for emergency fund by next year"

My goals seem impossible to reach. What should I do?

Goal Adjustment Strategies:

1. Break Down Large Goals: Create smaller milestone goals
2. Extend Timelines: Give yourself more time
3. Reduce Target Amounts: Start with achievable amounts
4. Focus on Process: Set behavior-based goals (save $500/month)
5. Seek Advice: Consult financial advisors or planners

How do I track progress on custom goals?

1. Manual Updates: Regularly update progress manually
2. Link Categories: Connect goals to specific asset/liability categories
3. Set Milestones: Break goals into smaller checkpoints
4. Regular Reviews: Weekly or monthly progress checks

Can I have multiple goals?

Yes! You can have unlimited goals:

• Different Types: Mix net worth, savings, and debt goals
• Various Timelines: Short-term and long-term goals
• Priority Levels: Focus on high-priority goals first
• Categories: Goals for different financial areas

Troubleshooting

The app crashes when I open it.

Troubleshooting Steps:

1. Force Close: Remove app from background, reopen
2. Restart Device: Power cycle your device
3. Update App: Check for app store updates
4. Clear Storage: Free up device storage space
5. Reinstall: Delete and reinstall the app

If Problems Persist:

• Note your device model and operating system version
• Contact support with crash details
• Try using a different device temporarily

My data disappeared after an update.

Data Recovery Steps:

1. Check Automatic Backup:

• Settings → Backup & Restore
• Look for automatic backups

1. Cloud Storage Check:

• Check Google Drive, iCloud
• Look for backup files

1. Device Backup Recovery:

• iOS: Restore from iTunes/iCloud backup
• Android: Restore from Google Backup

1. Contact Support:

• Include device info and update details
• We may be able to help recover data

I can't find a specific feature.

Feature Location Guide:

Main Navigation:

• Home (💰): Dashboard, add items, quick actions
• Analytics (📊): Charts, insights, projections, analysis
• Goals (🎯): Goal management and tracking
• Reports (📋): Export and financial snapshots
• Settings (⚙️): App preferences and advanced options

Common Features:

• Add Items: Home screen "+" button
• Edit Items: Tap item → Edit
• Themes: Settings → Theme
• Backup: Settings → Backup & Restore
• Security: Settings → Privacy & Security

Numbers don't match my bank statements.

Verification Steps:

1. Check Entry Accuracy: Verify all entered values
2. Category Verification: Ensure items are correctly categorized
3. Date Considerations: Use values from the same date
4. Pending Transactions: Account for pending transactions
5. Currency Consistency: All values must be in US Dollars (USD)

Common Discrepancies:

• Pending credit card transactions
• Interest accrual on accounts
• Market fluctuations in investments
• Outstanding checks or deposits

Privacy and Security

Where is my data stored?

Your data is stored locally on your device:

• Not in the cloud by default
• Encrypted using industry-standard encryption
• Backed up only when you choose to create backups
• Never transmitted to external servers without your action

Can others access my financial data?

Security Measures:

• Device Lock: Use your device's lock screen
• App Authentication: Enable biometric or PIN protection
• Background Protection: App hides when backgrounded
• Auto-lock: App locks after inactivity

How do I enable maximum security?

Maximum Security Setup:

1. Enable Encryption:

• Settings → Privacy & Security → Encryption
• Turn on data encryption

1. Biometric Authentication:

• Settings → Privacy & Security → Biometric Authentication
• Enable Face ID, Touch ID, or Fingerprint

1. Auto-lock:

• Set shortest auto-lock timeout
• Enable background app protection

1. Regular Backups:

• Create encrypted backups regularly
• Store backups securely

Is my data shared with third parties?

No. WealthTrackr:

• Does not collect personal data
• Does not share data with third parties
• Does not include analytics tracking
• Does not require account registration

Your financial data is private and stays on your device.

Advanced Features

How do I use the Performance Scorecard?

The Performance Scorecard provides a comprehensive financial health assessment:

1. Access: Settings → Smart Insights → Performance Scorecard
2. Overall Score: 0-100 rating of financial health
3. Component Scores: Individual ratings for different areas
4. Insights: AI-powered recommendations for improvement
5. Actions: Specific steps to improve your score

Score Components:

• Liquidity (20%): Cash and liquid asset availability
• Debt Management (25%): Debt-to-asset ratios
• Diversification (15%): Asset distribution
• Growth (20%): Net worth growth trends
• Goals (10%): Goal achievement progress
• Emergency Fund (10%): Emergency preparedness

What are Automated Insights?

Automated Insights provide AI-powered financial recommendations:

Access: Home screen brain icon or Settings → Smart Insights

Insight Types:

• Spending reduction opportunities
• Debt payoff strategies
• Investment rebalancing suggestions
• Emergency fund recommendations
• Goal achievement tips

Priority Levels:

• Urgent: Immediate attention needed
• High: Important for financial health
• Medium: Beneficial improvements
• Low: Nice-to-have optimizations

How do I use Category Management?

Access: Settings → Category Management

Features:

• Add Categories: Create custom asset/liability categories
• Edit Categories: Modify names, icons, and properties
• Reorder Categories: Drag to change display order
• Delete Categories: Remove unused categories (if no items)

Best Practices:

• Keep categories simple and broad
• Use consistent naming conventions
• Regular cleanup of unused categories
• Consider your specific financial situation

What is the Liquid Asset Rating system?

The Liquid Asset Rating helps you understand how quickly you can access your money:

Rating System:

• High (Green): Available in 1-3 days
• Medium (Orange): Available in weeks to months
• Low (Red): Takes months or years to access

Why It Matters:

• Emergency planning
• Cash flow management
• Investment strategy
• Risk assessment

Examples:

• High: Checking, savings, money market
• Medium: Stocks, bonds, CDs
• Low: Real estate, 401k, collectibles

Getting Help and Support

How do I contact support?

In-App Support:

1. Settings → Help & Support
2. Browse FAQs
3. Contact customer support
4. Submit bug reports

Response Times:

• General questions: 24-48 hours
• Bug reports: 1-3 business days
• Feature requests: Reviewed monthly

What information should I include in support requests?

Essential Information:

• Device model and operating system version
• App version number
• Detailed description of the issue
• Steps to reproduce the problem
• Screenshots or screen recordings (if helpful)

For Data Issues:

• When the problem started
• What you were doing when it occurred
• Whether you have recent backups

How do I report bugs or suggest features?

Bug Reports:

1. Settings → Help & Support → Report Bug
2. Include detailed steps to reproduce
3. Note any error messages
4. Specify when the problem occurs

Feature Requests:

1. Settings → Help & Support → Feature Request
2. Describe the desired functionality
3. Explain your use case
4. Note if other apps have this feature

Is there a user community?

Community Resources:

• GitHub Discussions for the project
• Online forums and user groups
• Social media communities
• Blog articles and tutorials

Community Guidelines:

• Be respectful and helpful
• Search before posting questions
• Share tips and success stories
• Help other users when possible

Where can I find tutorials?

Learning Resources:

• In-App Help: Settings → Help & Support
• Quick Start Guide: Essential setup steps
• User Guide: Comprehensive feature documentation
• Video Tutorials: Step-by-step visual guides
• Blog Articles: Financial planning tips

Popular Tutorial Topics:

• Setting up your first financial profile
• Creating effective financial goals
• Understanding analytics and insights
• Backing up and securing your data
• Optimizing app performance

Tips for Success

Best practices for accurate tracking?

Data Entry:

• Use exact amounts from statements
• Update regularly (weekly/monthly)
• Include all accounts, even small ones
• Be consistent with naming conventions

Categories:

• Use appropriate categories for each item
• Don't over-categorize - keep it simple
• Review and clean up categories regularly

Goals:

• Set realistic, achievable targets
• Break large goals into smaller milestones
• Review and adjust goals quarterly
• Celebrate achievements

How do I stay motivated?

Motivation Strategies:

• Visual Progress: Use charts and graphs to see improvement
• Regular Reviews: Monthly financial check-ins
• Goal Celebrations: Reward yourself for achievements
• Community Support: Share progress with others
• Education: Learn about personal finance

Mindset Tips:

• Focus on progress, not perfection
• Start small and build habits
• View setbacks as learning opportunities
• Remember your long-term objectives

What if I'm new to personal finance?

Getting Started:

1. Start Simple: Track just basics (checking, credit cards)
2. Learn Gradually: Add complexity as you understand more
3. Set Basic Goals: "Increase net worth by $1,000"
4. Use Resources: Read financial education materials
5. Be Patient: Building wealth takes time

Key Concepts to Learn:

• Emergency fund importance
• Debt vs. investment priorities
• Basic investment principles
• Risk and diversification
• Long-term thinking

This FAQ covers the most common questions about WealthTrackr. For additional help, use the in-app support features or consult the complete User Guide.