The Power of the Envelope

Money and Career

moneyI’m married to a CPA.
While there are some real positives to this, there’s also some frustrations.
In our case, the biggest frustration has been around creating and sticking to a budget.
We’ve tried all sorts of approaches. Joint accounts. Separate accounts. Spreadsheets. Debit cards. Credit cards to get the points. And so on.
Recently, when we tried out the envelope system … and lo and behold – it works!
For us, it’s been a great way to create a plan for short term and long term financial goals AND THEN a system to make it happen. Plus, there’s an adventurous side to it when as the end of each month rolls around we get to figure out how to navigate the remaining week(s) or days with whatever is left in a particular envelope.
If you’re like us and money/budgeting/financial security/goals has been a source of tension, I encourage you to check out the power of the envelope.
To help you, Simple Marriage has partnered with Mvelopes to provide a resource to help you navigate the money world in your marriage and family.
Did you realize that one Gallup poll shows that 68% of Americans do not have or follow a monthly budget? And according to a poll by USA TODAY, nearly two-thirds of married couples talk little or nothing about money before they say “I do.”
Many couples can agree on a place to live, how many children to have, and what the children’s names will be – and have no plans on how to spend, save and give their money.
A strong marriage and strong family is the core fabric of our society.
And every couple (married or engaged) can take proactive steps to protect and strengthen their relationship by implementing sound financial habits. Just a few few simple steps can save much heartache and bring more peace.
If you’re ready to change your financial situation once and for all, then Mvelope’s budgeting approach based on the proven method of envelope budgeting, combined with changes in your key financial habits, is your solution!
The envelope approach to money management has many advantages and it has a proven track record for achieving financial success.

  • First, it requires spending only from cash on hand.  No more spending money you don’t have!
  • Second, this approach includes setting funds aside each month to meet periodic spending requirements.  Now, when you take a family vacation, or purchase holiday gifts, the money is already available.
  • Third, always spending from a remaining envelope balance, means you always know how much you can spend without impacting other areas of your plan.

Following this paradigm completely eliminates the creation of consumer debt and allows you to begin saving and investing at levels you likely never thought possible.
It’s a proactive approach to your finances that completely takes out the guesswork of money management.
Here’s what one user of Mvelopes says:

My wife and I have been using Mvelopes for almost 2 years. I could tell you how it helped us pay off credit card debt, save hundreds of dollars in interest and now earn reward points. I could tell you about the countless hours saved mulling over a paper budget and transferring funds to pay bills. I could even tell you about how we can now concentrate on paying our mortgage off in less than 10 years and being debt free.
Instead, I want to tell how it saved my marriage. When my wife and I got married the financial responsibilities fell to me. I soon felt like the bad guy. She would come to me and ask “How much money do we have for this?” or “Can I buy this or that?” A lot of the time I would answer no because I was not sure. Over the years the anxiety and tension about the state of our finances increased. After a few months of using Mvelopes we both admitted to each other that we were not feeling the tension toward each other anymore. She no longer felt like I was keeping her from doing things and I no longer felt like the bad guy. We created a budget that we both agreed upon and it tells us what we can do. Now we both know how a purchase will affect our finances.
So Mvelopes, I would like to thank you for the money saved in counselor fees, lawyer fees and most of all the untold pain and suffering a failed marriage would have caused our 5-year-old son. Thank you! ~ James, Ooltewah, TN

If you’re part of the 68% who do not have a plan for spending their monthly income, I hope you see that change is needed, and that your financial future is more important than any excuse you may have. And believe me, there’s a lot of them (I know, I’ve used them with my wife).
To get started with FREE Mvelopes account, click here.
To get your COMPLIMENTARY copy of Finances for Couples e-book, click here.