As many of us are struggling in today's market, we search for options to help us maintain our finances. One of these products is MVelopes. MVelopes is an online module that helps you sync all of your accounts into one place, maintaining each and every transaction you make. Payments options are a plenty, ranging from quarterly to annually. MVelopes helps you watch where your money goes by helping you make a spending plan and funding envelopes. These envelopes are categorized spending and you fund these envelopes and only spend the allotted amount within that envelope. Options to move money as needed is available as well as transferring money from one account to another. MVelopes has a great bill pay feature where you can set up to pay your bills directly from this module without having to pay your bank for the service or purchasing stamps and mailing, saving you money.
MVelopes also has per session paid money classes, teaching you how to best use your finances to save more money and to get out of debt. The classes are reasonably priced and you can choose the options that work best for you if you so decide to purchase these sessions.
This is a great product for the price if used correctly. For those who use the product, moving money to and from envelopes without ever sticking to their plan, it's an expensive arcade game. Even at the lowest quarterly price of $39.00, why waste your money? It is a good way to keep your checkbook balanced as it accounts for all transactions (if your bank is compatible and you can have an online account). Mind you, not all banks are compatible and if your account is not, there is definitely no reason if you can balance a checkbook. Most of us who would use a module such as MVelopes only use it because we are not structured and disciplined in our money spending anyway.
So the question, is "is MVelpes worth the money?". After a five month test run, I can say I am perhaps a little better off being savvy of where I spend my money; but is it worth the $80 I've spent so far? Once I figured out the product, I could do the same thing on spreadsheets and put that $80 in a savings account. But if I was that disciplined, I wouldn't need this product in the first place and it does so much more. I would also like to say that the support team is phenomenal and help to solve any problem you may have.
Perhaps the financial sessions would be the best service for the price. Everyone could use more knowledge in how to spend their money and how to save it, and the sessions are faster learned than a product such as "Financial Peace University", a Dave Ramsey program. Both are excellent products, but after sixteen weeks of FPU, MVelpes lessons are faster learned and the prices a little cheaper.
In a time where every penny counts, If you must choose a lesson to learn,go with MVelopes but save the quarterly price of the product if you are not disciplined.