What Is Monarch Money?
Monarch Money launched in 2020 as a premium alternative to the free-but-bloated Mint. When Mint announced its closure in January 2024 (effective March 2024), Monarch was the primary beneficiary — gaining over a million new users in the months that followed. As of 2026, Monarch has grown into the most widely recommended personal finance app for people who want more than a basic tracker.
Monarch is available on iOS, Android, and web browser. It connects to over 11,000 financial institutions via Plaid and Finicity. A single subscription covers two users, making it the go-to choice for couples managing shared finances.
Key Features
Budgeting in Detail
Monarch's budgeting system sits between Mint's passive tracking and YNAB's active zero-based method. You set monthly category limits — groceries, dining, subscriptions, etc. — and Monarch auto-categorizes transactions as they come in. The categorization is good but not perfect: expect to manually correct 5–10% of transactions initially, dropping to 1–2% as Monarch learns your patterns.
The budget rollover feature is a standout: unspent budget in a category can roll over to the next month, which avoids the "reset and feel bad" problem. Monthly spending trends let you see if you spent more in March than February — with color-coded bar charts that make patterns obvious.
Monarch also introduced Goals — you can set a savings goal (e.g., emergency fund $10,000) and track progress. Goals pull from actual account balances rather than just tracking your contributions, so they stay accurate.
Net Worth Tracking
Monarch's net worth screen is one of the best implementations of any personal finance app. The Net Worth Over Time chart is interactive — hover over any date to see your exact net worth that day. You can filter to see just assets, just liabilities, or specific account types.
A particularly useful breakdown: Monarch separates your net worth into Liquid, Retirement, Investments, Real Estate, Loans, and Credit Cards — so you can quickly see how much of your wealth is actually accessible vs. locked in retirement accounts.
The main limitation: Monarch doesn't support crypto wallet connections or auto-sync real estate values from Zillow. If you hold significant alternative assets, Kubera handles this better.
Couples Features — Best in Class
This is where Monarch earns its premium price for many users. One subscription includes two full user seats. Both partners see:
- Combined net worth from all linked accounts
- Shared budgets with each person's transactions visible
- Individual account controls — either partner can mark accounts as "private"
- Separate spending dashboards that aggregate into one household view
In our testing with a two-person household, Monarch handled the complexity of two income sources, two sets of credit cards, and one shared checking account without any friction. The user interface makes it clear whose transaction is whose while keeping the shared view unified.
No other app at this price point does couples finance as well. YNAB supports multiple users but requires more setup. Empower doesn't support couples at all.
Bank Connection Reliability
Monarch uses Plaid and Finicity to connect to over 11,000 banks and brokerages. In our 60-day test across 11 accounts (3 checking, 2 credit cards, 2 brokerages, 1 401k, 1 IRA, 1 mortgage, 1 HYSA), we experienced:
- 9 of 11 accounts connected without issues
- 1 minor sync delay (401k — updated within 48 hours)
- 1 repeated re-authentication request (smaller regional bank not on Plaid's priority list)
The repeated re-auth issue is a known Plaid limitation for certain smaller institutions — not Monarch-specific. Overall, connection reliability was excellent for major banks and brokerages. The 401k sync delay is common across all personal finance apps.
Monarch Money Pricing
- 2 user seats
- Unlimited account connections
- Full budgeting + net worth
- Investment tracking
- 7-day free trial
- Everything in monthly
- 2 user seats (each: ~$50/yr)
- Unlimited account connections
- Full budgeting + net worth
- 7-day free trial
There is no free tier. The 7-day free trial gives full access to all features. Monarch is worth $99.99/year for couples — split two ways, it's $50/year per person for a complete financial dashboard. Single users may find the price harder to justify vs. free alternatives like Empower.
How Monarch Compares
| Feature | Monarch Money | YNAB | Empower (free) | Copilot |
|---|---|---|---|---|
| Price | $14.99/mo ($8.33 annual) | $14.99/mo ($8.25 annual) | Free | $13.99/mo |
| Couples (2 users) | ✓ Included | ✓ Included | ✗ | ✓ Included |
| Budgeting | Flexible, passive | Zero-based, active | Basic | Flexible, passive |
| Net Worth Tracking | ✓ Excellent | ✓ Good | ✓ Excellent | ✓ Excellent |
| Investment Analysis | Basic | ✗ | Deep (fee analysis, retirement) | Good |
| Crypto Tracking | ✗ | ✗ | ✗ | ✓ Coinbase |
| Platform | iOS, Android, Web | iOS, Android, Web | iOS, Android, Web | iPhone, Mac only |
| Free Trial | 7 days | 34 days | Free forever | ~1 month (code) |
Who Should Use Monarch Money
Monarch Money is the right choice if you are:
- A Mint user who needs a direct replacement with account syncing, budgeting, and net worth
- A couple wanting to manage shared finances and see each other's spending
- Someone who wants passive tracking (transactions auto-categorize, no weekly budget allocation)
- A person who values design and ease of use over raw investment analysis features
Monarch Money is NOT the right choice if you are:
- Looking for a completely free solution — use Empower instead
- Someone with significant crypto holdings — use Kubera
- An active budgeter who needs zero-based budgeting discipline — use YNAB
- On Android without an Apple device — Copilot is iPhone/Mac only, but YNAB or Monarch are your best cross-platform options
Pros and Cons
What We Loved
- Best couples finance app available
- Beautiful, intuitive interface
- Passive auto-categorization that learns
- Excellent net worth charts with history
- Covers budgeting + tracking + investments in one
- Manual asset entry for cars, real estate
- Budget rollover between months
- Works on iOS, Android, and web
What Could Be Better
- No free tier (7-day trial only)
- $14.99/mo is steep for single users
- No crypto wallet / DeFi tracking
- No Zillow real estate auto-sync
- Investment analysis is basic vs. Empower
- Some smaller bank connections require re-auth
- No Android home screen widget
- Goals feature still feels limited
Try Monarch Money Free for 7 Days
No credit card required for the trial. Connect all your accounts, invite your partner, and see your full financial picture in one place.
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