Posted by: Brookhaven | June 30, 2008


In my quest to get a better grasp on my finances I signed up for mvelopes a few months ago. Mvelopes is an on-line envelope budgeting tool. It connects to your financial institutions and downloads all of your transactions. You create envelopes for all your spending categories and also create funding plans to fund the envelopes you have created. Then when your paycheck is deposited you have the choice to automatically fund your envelopes according to the funding plan you created or you can manually disperse the money as you see fit. It is a great way to keep your spending in check because it offers a visual representation of how you spend your money. When an envelope gets in the red it really bothers me which causes me to spend less in other categories to make up the difference. I used Microsoft Money for years to track my spending but it did just that, track my spending. It is completely reactive. To control your finances you must be proactive. The envelope budgeting system and Mvelopes is just that. It allows me to give every dollar a purpose before I have a chance to spend it. There are also great reports that I can run to see if I am on target for my goals or to catch where I am overspending. It also offers free bill pay so I can do almost all my financial transaction in one place.

Mvelopes offers a free 30 day trial so you can see if it could work for you. I get nothing for posting this but I think it is a great tool and one that could really help those of us that struggle with a budget. Give it a try and let me know if you find it useful.



  1. This looks like a really cool service; thanks for sharing!! I’ve bookmarked for future reference and may link to it from my blog’s money section.

    I currently use the budgeting software from it allows you to make a budget for each month, tracks your spending and removes what you’ve spent from each budget category. Mvelopes looks to be more comprehensive, but YNAB doesn’t charge me by the month. 🙂

    I really like using actual envelopes with real cash for the budget categories I tend to overspend with: groceries, entertainment, gifts, etc.
    My only concern with Mvelopes is that it may be TOO automated (at least for me): with my current set-up I have to keep track of my spending and enter every transation into my system, which keeps my budget (and the balance of each category) top-of-mind.

    Ultimately, though, whatever works for you is what you should do. 🙂

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