New site aims to aid money management

It’s no secret that the UK has a lot of debt. Recent research shows that there is £1.3 trillion of persona debt and the debt level is increasing by £1 million every four minutes, so Brits need some help with money management. A new site aims to provide that. It’s called MyBeanstalk.

MyBeanstalk is intended for consumers who believe they could manage their money more effectively but do not have the tools or the time to do it. At the centre of MyBeanstalk is the Mvelopes Personal money management tool which was developed in the US and was voted one of PCWorld’s best products of 2006. The UK version is only available through the MyBeanstalk site. MyBeanstalk aims to help people control, reduce and eliminate debt, rather than contributing to the provision of ‘cheap’ loans and tempting offers that lure people deeper into debt.

The Mvelopes tool will help people to see what they spend each money and when they spend it which will help them to manage their money more efficiently. It provides a control panel where users can manage their money, retrieving date from bank accounts and helping with filing transactions. It includes the ability to set and amend the budget and control future spending. MyBeanstalk adds to this by providing access to whole of market comparison services.

Andrew Perillo, Managing Director of Mybeanstalk said, ‘We believed it was high time people in the UK were given easy access to practical help and assistance to manage their finances better – unlike so many companies in the personal finance arena that seem hell bent on steering their customers into as much debt as possible.  We are determined to make Mybeanstalk the UK’s leading financial service for people who want to help themselves manage their money better and enjoy their lives far more as a result.’