Mvelopes Logo
star star star star_border star_border
LAST UPDATED: February 26th, 2023
Mvelopes is based on a budgeting concept that is easy for most people to understand. In the old days, you would cash your paycheck and then distribute the cash into separate envelopes labeled with budget categories like rent, groceries, clothing, emergency savings, or electricity. When bills came due, you would remove money from the appropriate envelope to pay them. If you ran out of money in an envelope you would either have to go without that item (e.g., new clothes) or you’d have to take money out of a different envelope to fund it. When you ran out of money in your envelopes, you wouldn’t be able to spend any more until your next paycheck. The envelopes system excelled at helping people stay within their financial means and avoid racking up debt. 

Top Ranked Companies


The Good

  • Encryption Technology
  • Assessment and Consultation
  • Coaching Sessions

Mvelopes starts you off with a budget template with pre-made envelopes which you can add to, edit, or delete. Included in the budget list is a category for Goals where you can add things you're saving for like an emergency fund or a vacation. Mvelopes is based on the budgeting concept that you would cash your paycheck and then distribute the cash into separate envelopes labeled with budget categories. Some highlights about Mvelopes include:

  • Assessment questionnaire
  • Free financial coaching consultation
  • Set up guide
  • Past transactions
  • Automated starter budget
  • Mobile apps
  • Google Glass
  • "Budgeting Bootcamp"

Mvelopes uses the 128-bit SSL encryption technology that online banks use, firewalls around their servers, and regular security audits. You can read more details of Mevelopes's security measures on their website. The Mvelopes startup experience begins with an easy checkmark-style questionnaire in order to assess which financial needs are most important to you. After this assessment you are presented with an offer for a free financial coaching consultation (a $60 value) which you can either skip or proceed to making an appointment. Once you get into the application, Mvelopes provides you with a step-by-step guide to setting up your budget:

  1. Add accounts
  2. Define incomes
  3. Create a budget
  4. Fund your envelopes

After you add your accounts, Mvelopes will sync several months of your past transactions in order to set up a automated starter budget template for you to edit. You can access Mvelopes from mobile apps for Apple, Android, and Amazon and your transaction information syncs across all your devices. Mvelopes is even supported on Google Glass. Mvelopes Premium plan offers a credit card debt roll-down plan to get your charges under control and paid off quickly. Along with the free coaching consultation, Mvelopes offers other educational materials, such as the Budgeting Bootcamp, an extra $49.99 fee. For an additional fee, customers have the option to receive future consultations with an Mvelopes Certified Budget Coach. These coaching sessions provide customers with an additional layer of assistance as they try to master their personal finances in regards to paying off debt, saving for emergencies, and planning for the future. Sessions consist of monthly one-on-one phone calls that help assist clients toward their financial goals. To learn more about Mvelopes Certified Budget Coaches and how they can support you, please click our "Financial Coaching" tab.


The Bad

  • Interface is Complex
  • Free plan is Limited
  • Premier Plan is Expensive

The Mvelopes user interface can be intimidating for those new to managing financial accounts. The typeface is very small, the pages are text-heavy, and everything is rendered in Java Server Pages so that zooming in with your browser won't increase the text size. The overall impression that the interface gives is that of a complex console with very little for the eye to make sense of at a glance. There are very few visual displays of data - even on the reports pages - so nearly everything must be read to be understood. Some concerns include:

  • Complex interface
  • Free plan limited
  • Steep pricing for Premier plan

The Mvelopes free plan limits you to only 4 accounts and 25 envelopes, which might not be enough for some people. Also, live chat support is only available through the Premier plan, leaving the basic plan users to help articles and customer forums. The basic breakdown of plans breaks down as follows: Basic plan:

  • 4 bank accounts
  • 25 spending envelopes
  • Compatible with Windows/Mac

Premier plan:

  • Unlimited bank accounts
  • Unlimited envelopes

At $95/year (approximately $7.92/month), the Mvelopes Premier plan is more expensive than most other premium plans which average around $4 - $5 per month.


The Bottom Line

The Mvelopes free plan is a robust tool designed for people who are already budget-savvy and are comfortable with text-heavy consoles of information. The Premier plan offers more support options and a debt roll-down feature, but is fairly pricey compared to other premium online financial plans. Additionally, the interface may be difficult to read for those with vision problems or people who absorb information best from visual displays. Overall, we recommend using Mvelopes for your personal finance needs. Those that use Mvelopes for their personal finance management needs can expect the following from the platform:
  1. Quality and straight-forward budgeting tools
  2. Organize and manage all finances
  3. Expensive premier plan
Was this content helpful?
thumb_up Yes thumb_down No

Star Rating


star star star star_border star_border

33 Reviews

Review Breakdown

5 grade


4 grade


3 grade


2 grade


1 grade


Sentiment Criteria


star star star_half star_border star_border


star star star_half star_border star_border


star star star_half star_border star_border


star star star_half star_border star_border

Filter by:


Sort by:

star star star star star

EM Katy, TX

I've been using Mvelopes since it was founded in 2000. It was the first home budgeting system that ever worked for me, and obviously it's still working or I wouldn't have stuck with it. I first discovered Mvelopes when my checking account was overdrawn and I was desperate to find a "newfangled" online system to help me manage my money. In about a year of working diligently with Mvelopes I went from being $40 overdrawn to having $8,000 in savings. Yes, you read that right. Now, no program works if you don't apply its principles, and sadly I got very lax about that a few years ago. I am now once again in debt. But thanks to Mvelopes I know I can turn this around again very quickly. The system can be difficult to 'wrap your head around,' but if you work with the program daily, you will understand it better and better. I bought the lifetime access as soon as they offered it, so I'm not the best person to comment on the cost of Mvelopes versus other programs. What I will say is, for me, it's worth every penny. No other program shows me *how much money I have left to spend* in a given budget line, the way Mvelopes does. And that is its secret. Knowing I only have $50 left in my grocery budget allows me to avoid over-spending. I can't say enough good things about Mvelopes.

8 years ago

star star star star star

Alesia A. Birmingham, AL

I LOVE Mvelopes - I've been using it for many years (I've forgotten how many - that's how integrated into my life it is). The first year I used it I found myself very uncomfortable because it made me hyper aware of how out of control and unintentional I was being with my money. It took about a year to get my budget plan adjusted and workable. That's normal with budgeting - it's not a one time thing that you do - it's a work in process that requires reviewing it to see how it's working and making adjustments. Mvelopes made the reviewing and adjusting very easy. I love the visual representation of the envelopes - it is the only thing that has worked for me. Over the years that i have used it I have saved FAR more than the cost of the service. I fully credit Mvelopes with the fact that I have carried zero consumer debt in over 5 to 7 years. I believe this is possible because I can easily save for both expected and unexpected events, I can SEE where my money is going, and I can make better choices because of it. I am a HUGE fan and hope they are around forever because they saved my financial life.

8 years ago

star star star star star

Katherine S Cleveland Palmyra, PA

Life-changing! We began using Mvelopes when the trial period was 30 days and then you had to pay for the premium plan. There was no free plan available. We are now lifetime members, but I would pay the premium forever. This program is that good. So for newbies to the program a free plan is a great way to learn how the program works. We found it has about a 3-6 month learning curve since most of us have to change the way we think about our spending. We have become debt free except for car and mortgage. It enabled us to save for and purchase our home and has revolutionized the way we think about money. It is a very forgiving program and has a community of users who help by answering questions. We highly recommend for anyone. No other financial program compares.

8 years ago

star star star star star

Jessica Chapman Concord, NH

My husband and I are HUGE Mvelopes fans. I have to say, years ago, we used it and had technical issues, but those problems appear to have been completely resolved. I've been a loyal user for 2 years and even bought the lifetime membership. Tech support is WONDERFUL! If you're ready to start being a grown-up about your finances, hold yourself accountable to your decisions, and actually meet or exceed your savings / budgeting / debt reduction goals: Do this.

8 years ago

star star star star star

Scott Buena Vista, VA

We have been using Mvelopes for many years. It has totally changed our financial lives. Between this and Dave Ramsey we have fiannly been able to get control of our finances. There have been a few technical issues over the years but the last few years have been very stable. The concepts are so simple, but it does take some getting used to the interface. I still use the original version. I didn't like the newer interface as well. I highly recommend this for anyone who is ready to get control of their financial lives.

8 years ago

star star star star star

steve Menifee, CA

it appears that mvelopes no longer has the fee account. My wife and I wanted to get some friends started and help them get a handle on their budget's and they don't offer the free account any more...not good

6 years ago


Review Source

star star star star star

August Moulton Lehi, UT

I used this app for awhile and loved it. After a ton of research it won out over Mint and YNAB. It was easy to use and well put together. A great money management tool for anyone.

4 years ago

star star star star star

Lindsey Dallas, TX

Lifetime member here... this system meets my anal-retentive needs and I hope I never have to be without it.

8 years ago

star star star star star

Honest consumer Concord, NC

Love this program! Keeps our budget on track and is accurate!

9 months ago


Review Source

star star star star star

Tamra Orem, UT

By far the best budget app there is! Easy to use and understand. Make keeping track of expenses so much easier.

4 years ago

star star star star star

Lynn Meridian, ID

I LOVE LOVE Mvelopes - I am a lifetime member and would be lost without it!

8 years ago