The cash envelope budgeting method can be a very effective way to control your spending.
The premise is simple.
You come up with spending limits for your variable expenses, like groceries, eating out or entertainment.
Still looking for the perfect app? Here’s our roundup of thebest expense tracking apps.
Next, you fill up envelopes with cash to match what youve budgeted for each category.
Theres one significant flaw in this budgeting method though: What if you dont shop with cash?
Many people opt for online shopping or use a debit or credit card rather than dollars and coins.
Fortunately, there areways to adapt the cash envelope budget for cashless shoppers.
One of the solutions is to use a budgeting app, likeMvelopes.
In this Mvelopes review, well explain how this app works to help you keep your spending in check.
7 Ways to Make Money if You Hate People
Do you avoid people too?
Enough small talk.Here are some waysto earn extra cash, without all of the social stuff.
What Is Mvelopes?
Mvelopesis a budgeting app from Finicity, a fintech company owned by Mastercard.
The app uses bank-level encryption to keep your information safe.
Dont Miss:
Get Paid $225/Month While Watching Movie Previews
Mvelopes offers three tiers of service.
With the Debt Reduction Center, you get support to create a tailor-made debt payoff plan.
The apps top tier of service is Mvelopes Plus.
This plan connects you with a real-live personal finance trainer for one-on-one virtual sessions four times a year.
Youll also get higher priority customer service support.
Mvelopes Plus costs $19.97 a month or $199 a year.
One disadvantage of this app, however, is that its not free, like the budgeting appsMintorClarity Money.
Who Is Mvelopes For?
Nicole Dow is a senior writer at The Penny Hoarder.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
