Below you will find the basics, scroll down for a more in-depth view and additional information.

When you open your Envel account and enable Autopilot you are automatically given four main Autonomous Envelopes under the Spending account: Cash, Bills, Emergency and Subscriptions. You are also given a separate autonomous account called Vault for savings. Again, these are automatically set up by the system when you open an Envel account and will serve as your base envelopes for budgeting.

Funding of the envelopes will occur in the following order:

  1. Bills (To cover your expenses)

  2. Subscriptions (Not bills, but subscriptions to a product or service like Netflix or Spotify)

  3. Vault (A separate autonomous envelope to help you save)

  4. Emergency (For when life throws you a curveball)

  5. Cash (This is the remainder and can be used to treat yourself guilt-free)

How it works:

Autopilot will split your income (basically all deposits that are not P2P transfers) according to your settings. For example, if you set your income to be $1,500 and you receive $2,000, it will split the full amount as follows:

  1. Bills will take 100% of your specified bills + 10% to cover any inconsistencies.

  2. Subscriptions (to be determined)

  3. Vault Autopilot will take roughly 12% to go in your Vault Account.

  4. Emergency autopilot will take roughly 11% and send that to the Emergency Envelope

  5. Cash anything that is left over will be in your Cash Envelope, which you can spend Guilt-free, i.e. You have paid all your monthly payments; you have already saved, and you have some contingency money in your Emergency Envelope to cover a rainy day.

*We say “roughly” as this will be tailored over time to your needs.

Example of autopilot settings and how it distributes the funds:

Preference Settings (as predetermined by you):

  • Income to $1,500.00 (select your income timing)

  • Utilities to $100.00

  • Subscriptions to $50.00

  • Rent/Mortgage to $500.00

Distribution of funds (based on the $1500.00 deposit to income):

  • Bills $715.00

  • Subscriptions $TBD

  • Vault $187.50

  • Emergency: $172.00

  • Cash: $425.50

Spending Guidance

Setting up a budget is a brilliant move, but it's not enough. The tricky part is sticking to the plan.

Taking the example above, I'm getting paid $1,500 on a bi-weekly basis, which leaves me with $425.50 of "Guilt-free-Cash" that I can spend on anything because my basics are covered. But what can I spend every day to make sure I'm within my budget?

That's why we created the Spending Guidance. This will provide you with guidance on how much you can spend every day, week or month.

More Envelopes

If you need more Envelopes to organize your money then you can create additional Autonomous Envelopes for even more budgeting.

Flow of funds

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