A better way to manage your money more effectively

As today’s further rise in the cost of borrowing hits Britons harder, Mybeanstalk’s unique online money management tool has never been so valuable.

Today’s further 0.25% increase to the base rate by the Bank of England will add further pressures on the UK’s debt-laden population to find ways to make their money work harder for them - or face growing difficulties in paying the rising cost of their borrowing. MyBeanstalk offers just such a tool with its unique ‘Mvelopes’ online money management system.

With the more than £1.3 trillion of personal debt in the UK continuing to increase at £1 million every four minutes and with interest rates now at their highest levels for six years, Mybeanstalk’s practical and easy-to-use service to help people control, then reduce and eventually eliminate their debt altogether has never been so valuable.

Andrew Perillo, Managing Director of Mybeanstalk said, “Today’s further interest rate hike may make perfect sense for Britain’s overall economy, but it is going to play Hell with millions of people’s individual finances. The tools and guidance available on Mybeanstalk could make a very significant difference to those needing to find ways to manage their money better as the cost of their mortgage and other debts continues to climb.”

Using the ‘Mvelopes’ tool on Mybeanstalk allows people to finally take full control of their finances, making it easy for them to see exactly what they spend each month and when they spend it. Having this control and transparency is the first step and the key to how the site transforms the user’s ability to manage their money more effectively. But Mybeanstalk goes further to help people get better value from those monthly outgoings via easy access to whole-of-market comparison services. And with Mybeanstalk’s ever-expanding range of financial tips and guidance, users will swiftly move beyond managing their outgoings and debts more efficiently, to make more informed and astute decisions about saving, investing and insuring their future financial security.

The Mvelopes tool has been developed in the United States and there is a very popular way for people to manage their finances. Last summer it was voted one of ‘PC World’ magazine’s 100 Best Products of 2006. PC World’s senior editor, Tom Mainelli, said in his review of Mvelopes, "With this latest update, Mvelopes has become an even more usable service. It continues to work better for me than Intuit's Quicken or Microsoft Money for budgeting”

How it works

In a nutshell, Mvelopes provides a secure online ‘control panel’ to help users see and control their finances. Once set up, Mvelopes automatically retrieves all the necessary data from any number of bank accounts and helps the user to quickly and easily file each transaction in the appropriate ‘pot’. The service thus allows easy monitoring of actual spending against the intended budget, creating complete transparency of income and outgoings. With this, and the easy flexibility to juggle between the pots, tweak the budget and control future spending, the user gains complete knowledge of and control over their monthly finances.

Mybeanstalk is currently offering a 30 day free trial of the Mvelopes tool. After this the cost can be as little as £5.75 per month. An online tour and full details of the Mvelopes Personal tool are available at mybeanstalk.co.uk.