“Mvelopes makes the impossible possible.”

Danna and her daughter

Danna and her adorable daughter

Today’s success story highlights Danna from Victoria, Texas.  About a year ago, Danna sent us the following information about her initial experience using Mvelopes.

I have always been a little OCD about our finances. Each week I religiously entered into Microsoft Money every receipt or check written. Each year, I put together a budget and then we tried to stay within it. Yet each month when the Discover Card bill came in, I panicked. How had we spent so much! Fortunately, my husband made a good salary. He receives a small base pay, but the majority of his salary came from bonuses. Because of those bonuses we were able to pay off the credit cards each month and put some away for retirement and college.

Then 3 years ago, my oldest went off to college–a private university. Still, we had managed to save up enough for his first year’s tuition, and because we were so good at managing our money and setting aside money for our children’s college education, we were not worried about coming up with the rest of the tuition.

Then the bottom dropped out. Due to factors beyond our control, my husband’s company (of which he was a partner) was unable to pay any bonuses for the next three years. Slowly our savings eroded away. I believed it was impossible to live within his base salary, and we were considering taking out a home equity loan just to live on when a friend told me about Mvelopes.

We have been on Mvelopes for 10 months now, and not only are we living within my husband’s base salary, but I am saving $400 a month for our son’s college, and we have also managed to save up enough money to do several home decorating projects. Another plus–instead of spending hours each week entering our expenditures into Microsoft Money, I now just get online a couple times a week and spend minutes.

I was not careless about our finances–the only debt we had was our home mortgage; yet Mvelopes made the impossible possible. I no longer cringe when the credit card bill comes in.  Paying bills is not only stress free, but with Bill Pay, time free as well.

Thank you for Mvelopes for setting me free!

Now that another year has come and gone, we wanted to check in with Danna to see how life is progressing.  In a recent telephone call with Danna, she answered the following questions:

Q:  How long have you been using Mvelopes?

A:  It will be two years in May.

Q:  How has Mvelopes assisted you in living within your income?

A:  My husband is an attorney and we have a base salary, but most of his income comes in the forms of bonuses.  For about three years, however, there were no bonuses.  I was so worried when I realized that we’d have to live off his base salary.  We also had a son going off to college right at that time, too.  I found out about Mvelopes from a friend whose husband is a banker.  I realized that not only could we live within his salary, but I was also able to put aside $400 a month in savings, plus we put new windows in the house.  My son is getting married and we’re able to put aside money in the wedding envelope.

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“We now have total financial peace.”

Katie and her husband

Katie and her husband

Today’s success story highlights Katie from Spanish Fork, Utah.  Katie has been using Mvelopes for approximately four years.  About a year ago, Katie shared the following comments with us:

We have been using Mvelopes for over 3 years now. I want to tell you about the change in our finances because of it. We had tried, unsuccessfully, to stick to a budget for years. However, it was very cumbersome to write everything down and keep track of each expense. We eventually went to the traditional envelope system. This seemed to help, but once again, it was hard to keep up with. Eventually, we abandoned all of our budgeting completely and found ourselves in more than $35,000 of debt (not including our home and cars!). We would see the money in the bank, and feel like we had a “free ticket” to spend it.

This is when we found Mvelopes. WOW!  WHAT A DIFFERENCE! We were able to stop frivolous spending, and be accountable for each purchase. We put all of the extra money toward our debt. Our income has virtually stayed the same, yet we have completely wiped out our debt, and saved 6+ months worth of financial reserves. We finally have financial peace. THANK YOU, MVELOPES! I have recommended Mvelopes to countless people, and will continue to do so. It has truly changed our financial lives.

I recently had the privilege of speaking with Katie and learned the following additional information about the financial success she and her family have achieved since using Mvelopes.

Q:  How long have you been using Mvelopes?

A:  I think it’s been about four years.

Q:  How has Mvelopes assisted you in living within your income?

A:  It has helped me because, before we started using Mvelopes, I wasn’t using any type of budget.  At one point, I had budgeted using the traditional envelopes (paper envelopes with cash), but it was so cumbersome, I gave up on it.  I would look at our bank account and would think I had that much money to spend.  I wouldn’t plan for the upcoming larger bills.  In fact, we didn’t plan at all for any bills.  We just spent money.  When the bills came, we’d often have to put them on our credit cards.  My husband is self-employed and sometimes gets paid every other month.  In the past, we had some pretty lean months.  Mvelopes has made such a difference and has really saved us.  Now we budget like we’re NOT self-employed and that really helps us.

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