financial reflections

I’ve been keeping a home budget for several months now, and it’s great.  I’ve gotten my spending under better control, paid off some debt and moved forward financially.  However, I also have noticed problems I have with my budget.  I’ve noticed “leaks” in my budget - places where money seeps out.  I also want to ratchet up my debt elimination plan so I keep to my goals for the year.  In order to do that, I’m trying out a software budgeting system.  It offers a free trial, so I’m going to take the month I and do a multi-part review.  This is part one.

The software I’ve selected is Mvelopes.  As the name implies, it uses an “envelope” system to track your finances.  That’s similar to what I’m using for a few things now, but the envelope system seems more comprehensive.  I have a problem with categories that aren’t in “envelopes” right now.  I’ll overspend in categories that are open.  Here’s a screenshot:

So far, so good.  I’ll keep the updates coming as the month goes on.  In fact, you can join in.  Mvelopes has a 30-day trial going on right now.  You give your payment information up front, but you can cancel via phone if you don’t like the service.  One caveat — if you start a subscription, such as the two year plan, I hear you can’t get a refund if you change your mind.  I just signed up for the quarterly plan.  If I keep the service I have a feeling they won’t mind me putting down the cash for two years.