What happened to Mvelopes?
Mvelopes, one of the best-known digital envelope budgeting apps, shut down on December 29, 2022 after about 21 years (FinanceBuzz, WalletHacks). It was owned by Finicity, a Mastercard company. Before the shutdown, users could download their data as a CSV file, and existing users were offered a discounted move to EveryDollar.
If you still miss the way Mvelopes worked, here's what to look for in a replacement and how EnvelopeBudget compares with the envelope apps that are still around.
Why people look for a Mvelopes alternative
You want digital envelopes, not just spending categories
Mvelopes was built around envelopes that hold money. EnvelopeBudget works the same way. You fund envelopes from each paycheck, spend from them, and each one carries its balance forward. See how envelope budgeting works.
You want bank sync
Mvelopes pulled in transactions automatically. EnvelopeBudget connects banks through SimpleFIN for an extra $1.50/month or $10/year paid to SimpleFIN, and also supports OFX/QFX file import and manual entry.
You used debt envelopes
Mvelopes let you budget toward debt. EnvelopeBudget tracks credit cards inside your envelopes and has a Debt Center that turns your balances into a snowball or avalanche plan with a debt-free date.
EnvelopeBudget vs Mvelopes at a glance
| EnvelopeBudget | Mvelopes | |
|---|---|---|
| Status | Active, with regular releases | Shut down December 29, 2022 |
| Digital envelopes | Yes, with rollover balances | Yes (when it was running) |
| Bank sync | Optional, via SimpleFIN (+$1.50/mo or $10/yr) | Yes (when it was running) |
| Debt payoff | Debt Center (snowball or avalanche plans) | Debt envelopes |
| Price | $4/month, $40/year, or $60 lifetime (first 500 members) | No free tier (when it was running) |
| Platforms | Web, iOS, Android | — |
Who should stay with Mvelopes
- There's nothing to stay with — Mvelopes is closed. If you moved to EveryDollar through the discounted transfer and you're happy there, there's no need to switch again.
- If what you really want is a free-forever envelope app with a small budget, Goodbudget's free plan (10 regular + 10 annual/goal envelopes) may fit better.
How to switch to EnvelopeBudget
- Start your free trial. Create an EnvelopeBudget account. You get 34 days with every feature, and no credit card.
- Rebuild your old Mvelopes envelopes. EnvelopeBudget can't import the Mvelopes CSV export, so start from your old envelope list (or the CSV, if you kept it) and create the same envelopes with this month's amounts. Most budgets take 10–15 minutes.
- Add debt and sinking-fund envelopes. Recreate any debt envelopes, then add your credit cards and loans to the Debt Center to get a payoff plan.
- Connect your banks. Link accounts through SimpleFIN, import OFX/QFX files from your bank, or enter transactions by hand.
The envelope apps that are still around
An honest look at the main options former Mvelopes users consider (prices checked October 8, 2026):
- Goodbudget: true digital envelopes. Free plan with 10 regular + 10 annual/goal envelopes; Plus $8/month or $70/year; Premium (US bank sync) $10/month or $80/year. Compare.
- YNAB: zero-based category budgeting with bank sync, $14.99/month or $109/year after a 34-day trial. Compare.
- EveryDollar: Ramsey's zero-based budget. Free version; Premium with bank connect $17.99/month or $79.99/year. Compare.
- EnvelopeBudget: digital envelopes with rollover balances, $4/month or $40/year (or $60 lifetime for the first 500 members), with SimpleFIN bank sync for $1.50/month more.
Frequently asked questions
When did Mvelopes shut down?
Mvelopes shut down and discontinued its services on December 29, 2022, according to FinanceBuzz and WalletHacks.
Can I import my old Mvelopes data into EnvelopeBudget?
Not directly. EnvelopeBudget imports YNAB exports and OFX/QFX bank files, not the Mvelopes CSV. Most people recreate their envelopes in a few minutes and start fresh from today's balances.
What's the closest app to Mvelopes?
Look for an app built on digital envelopes with bank sync. Today that includes EnvelopeBudget, Goodbudget Premium, and YNAB. EveryDollar is a zero-based budget rather than an envelope app.
How much does EnvelopeBudget cost?
$4/month or $40/year after a 34-day free trial with no credit card, or $60 one-time for lifetime access (first 500 members). Bank sync through SimpleFIN adds $1.50/month or $10/year.