Managing money across multiple bank accounts, credit cards, investments, and recurring bills can quickly become complicated. Monarch is a personal finance app designed to bring your financial information into one place so you can track spending, create budgets, monitor investments, and plan for future goals.
The platform combines financial tracking, budgeting, planning, reports, and household collaboration in one dashboard. It also supports web, iOS, Android, and iPad access.
What Is Monarch?
Monarch is an all-in-one personal finance management platform designed to give users a clearer view of their money. You can connect bank accounts, credit cards, loans, investments, real estate, and other financial accounts to see your overall financial picture in one place.
Monarch also automatically categorizes transactions and provides tools for tracking spending, net worth, cash flow, and financial goals.
What Can You Do With Monarch?
Track Your Finances
Monarch brings transactions and account balances into a centralized dashboard. You can review spending, monitor cash flow, track net worth, and organize transactions into categories.
The platform currently supports connections to more than 13,000 financial institutions through multiple data providers.
Create and Manage Budgets
Monarch provides two budgeting approaches: Flex Budgeting and Category Budgeting. This gives users the option to use a more flexible spending approach or assign specific budgets to individual categories.
Track Investments and Net Worth
You can connect investment accounts and monitor holdings and portfolio performance alongside your other finances. Monarch also provides net-worth tracking to help users see how their overall financial position changes over time.
Set Financial Goals
Monarch allows you to create goals for things such as vacations, home projects, savings, or other financial priorities. You can track progress and incorporate goals into your overall financial plan.
Manage Money Together
Monarch allows users to invite a partner or financial professional at no additional cost for collaboration. Households can combine separate and joint accounts into a shared financial view.
Monarch Pricing
Monarch is a paid personal finance service and offers both monthly and yearly subscriptions. Its current pricing page advertises the annual plan at $99.99 per year, equivalent to about $8.33 per month, while promotional discounts may be available for new customers.
Monarch also offers a 7-day free trial, allowing new users to explore the platform before committing to a subscription. The company says its service is ad-free and that it does not sell users’ financial data.
Is Monarch Easy to Use?
Monarch is designed around a centralized dashboard, making it possible to see accounts, transactions, budgets, investments, and goals without switching between multiple financial apps.
Its web and mobile apps provide access across devices, while customizable dashboards and reports allow users to focus on the financial information that matters most to them.
Pros and Cons of Monarch
Pros
- All-in-one financial dashboard
- Budgeting and spending tracking
- Net-worth and investment tracking
- Custom financial reports
- Automatic transaction categorization
- Financial goal tracking
- Household collaboration
- Supports 13,000+ financial institutions
- Ad-free experience
Cons
- No permanent free plan
- Requires a paid subscription after the trial
- Availability is currently limited to the U.S. and Canada
- Some users may prefer a simpler budgeting app
Who Is Monarch Best For?
Monarch can be useful for individuals, couples, families, and financially organized users who want to manage several accounts from one place.
It can be especially useful for people who want more than basic budgeting because the platform combines spending, investments, net worth, recurring transactions, reports, and financial goals.
Is Monarch Worth It?
Monarch can be a useful option for users who want a comprehensive view of their finances instead of managing budgets and accounts across several separate tools.
The combination of account syncing, flexible budgeting, investment tracking, customizable reports, goal planning, and household collaboration makes it a feature-rich personal finance platform.
The main consideration is the subscription cost. Since Monarch does not offer a permanent free plan, users should decide whether its broader financial-management features justify the recurring price.
Final Verdict
Monarch is a comprehensive personal finance platform that combines budgeting, spending tracking, investment monitoring, net-worth tracking, financial goals, and household collaboration in one place.
For users who want a centralized and organized view of their money, Monarch is worth considering. The 7-day free trial also gives you an opportunity to test the platform before subscribing.
Frequently Asked Questions
Is Monarch a budgeting app?
Yes. Monarch is a personal finance platform that includes budgeting alongside spending tracking, investments, net worth, reports, and financial planning.
How much does Monarch cost?
Monarch currently advertises an annual subscription of $99.99 per year, or about $8.33 per month when billed annually. Prices and promotions can change.
Does Monarch have a free trial?
Yes. Monarch currently offers a 7-day free trial for new users.
Can couples use Monarch together?
Yes. Monarch allows users to invite a partner and create a shared view of household finances without an additional collaboration fee.
Does Monarch track investments?
Yes. Users can connect investment accounts and monitor holdings and portfolio performance through Monarch.
Is Monarch available outside the U.S.?
Monarch currently states that it is available in the United States and Canada.
