Looking for an Mvelopes alternative? Try Goodbudget.

These days, we all need a budget. Not only do budgets help us live within our means, they also help us stay on track with our long term financial goals, whether that’s paying down debt or saving for a down payment on a house. 

In light of Mvelopes’ recent announcement that they’ll be closing their doors come year’s end, you might be looking for the best alternative to help you on your budgeting journey. In this article, we’ll cover some of the differences between Goodbudget and Mvelopes to help you decide if Goodbudget is the right solution for you. 

What is Goodbudget? 

Goodbudget is a budgeting app for iPhone, Android, and the Web. It uses the time-tested and familiar envelope budget method. 

With Goodbudget, you’re able to create a budget that works (if you haven’t already!), sync and share that budget across multiple devices, save for big expenses, pay down debt, and more! 

Goodbudget vs. Mvelopes

While Mvelopes and Goodbudget both utilize the envelope budget method, there are a few other similarities and differences to be aware of. Here’s a quick breakdown of some of the features you might be looking for. 

Similarities 

Feature

Goodbudget

Mvelopes

Envelope Budgeting

Y

Y

Sync 2+ Devices

Y

Y

Manual Import

Y

Y

Debt Tracking

Y

Y

Envelope Progress Bar

Y

Y

Robust Reporting

Y

Y

Full Envelope Customization

Y

Y

Custom Fill / Allocated Spending Plan

Y

Y

Split Transaction into Multiple Envelopes

Y

Y

Reconcile Accounts

Y

Y

Create Scheduled Transactions

Y

Y

Envelope Transfers

Y

Y

Account Transfers

Y

Y

Negative Balance Carryover

Y

Y

Paid Plan

Y ($8/month, $70/year)

Y

 

Differences

Feature

Goodbudget

Mvelopes

Free Plan

Y

N

Bank Sync

N

Y

Track Non-Monthly Budgets

Y

N

Manual Transaction Entry

Y

N

Investment Tracking

N

Y

Goal Tracking 

Y

N

PIN / Passcode

N

Y

Cute Mascot

Y

N

Who should try Goodbudget?

Goodbudget is a great option for those looking for an Mvelopes alternative because it uses the same envelope method you know and love. 

Because Goodbudget doesn’t link to your real life bank accounts, it works best for folks that want to become more aware of their spending. 

Give Goodbudget a try

Does Goodbudget sound like the program for you? Give it a try now. 

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  1. A strong philosophy.
    Transform your financial life with the Goodbudget Way.
  2. A time-tested system.
    Goodbudget is based on the envelope budgeting method.
  3. Great budget software.
    Available for the Web, Android, and iPhone. Get started with Goodbudget. Sign up now!

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9 thoughts on “Looking for an Mvelopes alternative? Try Goodbudget.”

  1. No bank sync is a REALLY BIG DEAL. It make goodbudget a clear “no” on my end. Too bad, because it is in theory closer to mvelopes than other platforms but that is a major feature to not have–I may as well use excel or literal paper money if I have to do it all manually anyways. No thanks!

    Reply
  2. Goodbudget says that manual entry of bank transactions creates greater awareness of spending, but I disagree. As a 15 year user of Mvelopes, I found that I was plenty aware of my spending just by seeing and assigning every transaction that was automatically synced with my Mvelopes app. Can I at least import bank transactions with Goodbudget? Also, Mvelopes allowed me to plan the exact allocation of each paycheck, funding every envelope according to the plan I laid out each month. Does Goodbudget have a similar function? If so, I may get through my Mvelopes mourning period a little easier… Thanks!

    Reply
    • Hi Brooke — you can import transactions in Goodbudget by uploading a file you download from your bank. You can see more about that here: https://goodbudget.com/help/using-accounts/import/

      As for planning a paycheck, you can definitely set up detailed allocations to specific Envelopes for each paycheck, as well as save those allocation structures and set them to auto-recur in the future using Scheduled Transactions.

  3. I definitely agree with Amy and Kim. Not being able to sync bank accounts like I did in mVelopes is a huge negative in moving to another app. from mVelopes.

    Reply
  4. I’m not AS fussed about bank sync simply because I only have 2 accounts and if I can do an import, I think that can be manageable.

    My question is about paycheck alocation. In Mvelopes you can set up an entire month of paychecks and plan for all expenses in a month down to the last penny. So it’s more than just allocating paychecks, you’re budgeting a month at a time. Does Goodbudget do that?

    Reply
    • I’m not entirely clear on how Mvelopes did it, so I can’t say if it’s exactly the same, but I can tell you that in Goodbudget, you can schedule future expenses and paychecks to occur on future dates, so you can plan and see what’s coming in the future. What Goodbudget doesn’t specifically do is separate out discrete months. In other words, this month and last month and next month are all on one “timeline”, so even though you can see and plan for the future, it’s not like…blocked off, or anything.

  5. Also here looking for mvelopes replacement, going to give ynab a try but don’t like it so far. Agree with other commenters, without auto bank and credit card downloads this is a non-starter. 🙁

    Reply

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