Recently I learned of Mvelopes from a family member. If you're much into budgeting or from Nashville.. I'm sure you've heard of Dave Ramsey and the envelope system. I think the envelope system is a wonderful idea.. I even tried it for awhile when I lived there (one of my friends worked for DR and hooked me up with a fancy wallet with envelopes inside..) however, it just didn't work for me. Inevitably, I didn't make it to the bank to withdraw cash, I hate paying cash as gas stations, Aaron hates carrying cash (if you saw his paper thin wallet, you would understand), etc, etc... So I put that idea on the back burner and just used Microsoft Money to watch out finances.. and that's stressful. I hated when it seemed I "overspent" in one area just because it wasn't initially budgeted for.. and that's why I love the envelope system. It gives you the freedom to transfer from one envelope to another if necessary. Sometimes we when are traveling a lot and not eating at home, it's nice to transfer money from groceries to dining out. Also sometimes with using Microsoft Money, I would notice some extra money and use it for extra payments on student loans and so forth.. and those showed up as overspending. I hated that. Anyways.. I had been on a budget hiatus for awhile.. but I'm back and loving it.
Mvelopes is an online envelope system. It links to all of my checking accounts, credit card, and even student loan accounts. I set up tons of envelopes (currently at 41) for all the different expenses we incur each month. Then whenever we get paid, I disburse those funds to the various envelopes. When transactions clear the bank they show up on mvelopes and I assign them (using drag n drop, which I love) to the various envelopes, decreasing their balance. It's so simple. I also love that's it's easy to transfer from one envelope to another if need be. Another great thing about using the envelope system is planning ahead. The template had a few envelopes that I wouldn't have originally set up, but I kept them because they are great ideas. I have a car registration envelope that I fund with a few dollars each paycheck, that way when January rolls around I don't have to come up with an extra $120 for my registration. I also have a Christmas envelope where I have been stashing funds to buy presents in a couple of months. I've only been using Mvelopes for 2 months, but so far I'm loving it. I check it at least once a day to assign transactions and I'm always looking to save money in certain envelopes. If I have leftover funds in envelopes, I like to transfer and use them to pay off my student loans faster. Also, when it comes to credit cards (which I know DR totally disapproves of.. but whatever).. it has a nice feature. I can use my credit card and those transactions show up like normal transactions, which I assign to the respective envelopes. The funds that were assigned to the envelope decrease and transfer to a special "money for CC" envelope, so the funds are still set aside to pay for all the items on the credit card. This is nice for those who get points for purchasing certain things on their credit cards.. now you can still get the points but have the money in your checking account virtually set aside so it's not spent.
I've already convinced my sister to sign up.. and I think you should too if you are looking for a way to manage your finances.
Click here if you are interested: Mvelopes
That link should be a referral link, which would save you 20% if you decide to sign up. It's well worth it!
Mvelopes is an online envelope system. It links to all of my checking accounts, credit card, and even student loan accounts. I set up tons of envelopes (currently at 41) for all the different expenses we incur each month. Then whenever we get paid, I disburse those funds to the various envelopes. When transactions clear the bank they show up on mvelopes and I assign them (using drag n drop, which I love) to the various envelopes, decreasing their balance. It's so simple. I also love that's it's easy to transfer from one envelope to another if need be. Another great thing about using the envelope system is planning ahead. The template had a few envelopes that I wouldn't have originally set up, but I kept them because they are great ideas. I have a car registration envelope that I fund with a few dollars each paycheck, that way when January rolls around I don't have to come up with an extra $120 for my registration. I also have a Christmas envelope where I have been stashing funds to buy presents in a couple of months. I've only been using Mvelopes for 2 months, but so far I'm loving it. I check it at least once a day to assign transactions and I'm always looking to save money in certain envelopes. If I have leftover funds in envelopes, I like to transfer and use them to pay off my student loans faster. Also, when it comes to credit cards (which I know DR totally disapproves of.. but whatever).. it has a nice feature. I can use my credit card and those transactions show up like normal transactions, which I assign to the respective envelopes. The funds that were assigned to the envelope decrease and transfer to a special "money for CC" envelope, so the funds are still set aside to pay for all the items on the credit card. This is nice for those who get points for purchasing certain things on their credit cards.. now you can still get the points but have the money in your checking account virtually set aside so it's not spent.
I've already convinced my sister to sign up.. and I think you should too if you are looking for a way to manage your finances.
Click here if you are interested: Mvelopes
That link should be a referral link, which would save you 20% if you decide to sign up. It's well worth it!
