Mvelopes

• 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.

• 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.