http://www.mvelopes.com/

I came across this awhile ago and thought it would be great for anyone who wants to get their finances under control - but who can't imagine writing down everything they spend in order to set up a traditional budget. I haven't actually tried it myself, since I think I would need to use it for longer than the 30 day free trial for it to be useful and I don't want to pay for it right now (though it really isn't much, around $10-20/month I think).

It's an online version of the "envelope budgeting" system - having a separate envelope for each budget category and putting a set amount of money in each for the month. The biggest advantage of the online version is that you can link it to your bank account and credit cards, so that every time money comes out of your account or you use your credit card, it shows up on the Mvelopes website. Then whenever you log onto your budget, you can see how much you have left in each category and assign credit card purchases to an envelope so money is taken out of that and put in the credit card payment envelope. Plus there's a free bill-payer (up to 20/month) included in the monthly fee, so you can just pay everything from one place (including actual people, it will send a paper check to anyone not set up to receive payments online).

Oh, and the Budget Center section of the website has some good links & tips, even if you don't want to try Mvelopes.

I have used mvelopes, and I think it is incredible. My wife does the finances now, but when I was "attempting" to, mvelopes was the only way I could have a chance. It does take some discipline to use it right, but if you do, it is really good stuff. I'm pretty sure they offer a free trial for a month.

It's challenging, but the stuff that's good for us usually is. Making a spending plan with my husband before the month begins, so that we have goals and guidelines for our spending and saving. Since we don't use credit cards anymore and are working to get out of debt completely, we love this program.

I highly recommend it.

I did not like this program at all. It kept on freezing up my computer, and for me, it was too confusing to use for our sitution. Having to budget every penny was frustrating-I wanted a place to put the money that was not yet budgeted so I could take time to decide where to put the money.

It has been so long that I have forgotten all the reasons, but did not find it lived up to its name. Plus, they charge for paying bills on line which I can do free at my bank. I found it too expensive for my budget! There is not an option to buy the software and use it with out paing the monthly fee as far as I know!

I do agree, that if it works for you and helps you it is wonderful and say keep on using it.

I just write about my experience so people know that it does not always work for everyone. If people have free online banking, why pay another company to do the same thing! I get ebills and alerts on line-and there are other money management tools out there that work well if you wish to purchase a software program instead of an online service.

My advice, look at this service very carefully, consider your financial status, your goals, your attitude towards money, and your actual income and outgo of cash and use of credit. Then read all the fine print very carefully, to ensure it is the right service for you. If they have a trial, remember to cancel it several days before it ends-or you will pay for a month or more of service. Compare this to Quicken and Microsoft Money. There may also be finacial management freeware on the web that you can use too. Just be a wise consumer and make the best choice and decision that meets your needs and goals!

RADDmom-who just can't stop being a consumer ed teacher!