April 8, 2011

MyJibe – Future Finance Control

MyJibe is a web-app that lets people look at their finances from a different point of view. Rather than reflecting back at all the money that was spent and saved, MyJibe encourages users to look forward into the future. Using an envelope style budgeting system, MyJibe can help people save money, reduce debt, and get their financial house in order.

To create an account with MyJibe, you’ll need to list all of your bank accounts, investments accounts, credit cards, and physical assets. MyJibe needs your bank login information to access your account balances and debt loads. Once MyJibe has accessed your information, it will automatically parse each line item out so you can see your top spending categories, largest purchases, and most frequently visited stores. Each line item is automatically categorized, which means you won’t be spending hours adding tags to each purchase you’ve made in the past year. Next, you can start adding all the fixed and flexible expenses you have coming up each month. As bills get paid, MyJibe will automatically deduct the money from those fixed expenses. And when certain bills are higher than anticipated, MyJibe will automatically deduct that money from the flexible expenses in your account. Using this system, it’s easy to see how much you can afford and how much money you have left for your fixed expenses at any given time.

The real aim of MyJibe is to help people reach their savings goals. Using the web-app’s envelope budgeting system, you can set fixed amounts to save each month for special events, vacations, or splurge items. View your progress by clicking on “Savings Goals” and checking out the summary page. MyJibe also offers custom checklists with financial guidance intended to help people reach whatever goals they’ve set.

Practical Uses:

  • Create budgets to help keep your spending in line
  • Increase the amount of money you save each month
  • Keep track of how much money you have to spend on fixed bills
  • Get advice on how to pay your credit card debt off in the quickest amount of time

Insider Tips:

  • MyJibe uses the “envelope system” of budgeting to help users plan and track expenses
  • Users can set up separate logins that their CPAs and financial advisors can access
  • Individual user credit card and banking data is not stored on the MyJibe site
  • MyJibe can help create cash flow records and net worth statements in real-time

What we liked:

  • MyJibe automatically uploads new banking transactions so users don’t have to
  • Users can see which stores they shop at most frequently
  • Budgets are flexible, which makes MyJibe’s budgeting tools different from those offered by competing web-apps
  • Individual transactions are tagged and categorized automatically

What we didn’t like:

  • MyJibe is very similar to Mint, the free money management tool that many people already use


Company Info:

  • Launched: February 2011
  • Privately Held
  • Headquarters: Bloomington, Indiana
  • Founded by: Mike Langellier and Brandon Dewitt
  • Web site:


  • $7.99/month or $18.99/quarter

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