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A Premium Alternative to Free Budgeting Apps: Monarch Review

When it comes to budgeting apps and personal finance software, many folks are drawn towards free or low-budget options. However, sometimes it’s worth investing in a premium experience. If you care about your finances, or they can be complicated and problematic too, Monarch could be an attractive alternative.

This software, supported by excellent apps for both iOS and Android, has been evolving over the last few years and is now one of the most potent power tools you can own. While it packs many of the handy everyday features and functions that other budgeting and personal finance tools offer, Monarch also boasts options that can help make life easier when it comes to more complex money matters.

Monarch: Pricing

Anyone who has been used to enjoying their preferred personal finance and budgeting apps for very little outlay will find Monarch an altogether different proposition. Currently, it’ll set you back $14.99 per month, or there’s the annual payment option for $99.99, which equates to $8.33 per month over the course of a year, which shaves a little off the outlay. In that respect, Monarch is a premium product, and, thankfully, its features, functions, and overall usability go a long way to justifying the higher price.

Monarch: Core Features

Here are the three core components of Monarch, which collectively provide a comprehensive overview of your financial situation and help you plan for the future:

Tracking: This is where you can keep tabs on all of your accounts in one handy location, thanks to the powerful interface and ease of use. You can chart your net worth by pulling in data from bank accounts, real estate, investments, and more.
Budgeting: This is not only powerful but also well laid out. There are plenty of automated power tools, but the way everything is presented in delicious graphical color makes the experience all the more impressive.
Planning and Goals: Knowing what shape your finances are in is one thing, but Monarch also offers lots of potential for planning for the future. Again, the way the graphics drive this section makes it a joy to use, while the power tools inside make working with your data simple but effective.

Monarch: Performance

While there are app versions for iOS and Android, Monarch works best initially via a laptop, where there’s more space on screen to pick through the many and varied component parts. The experience is a treat thanks to logical page layouts, great graphics, and the clean, no-nonsense use of easy-to-read typefaces.

Monarch: Ease of Use

Monarch is an easy thing to configure, from linking bank accounts through to customizing personal preferences. There’s even a helping hand given where it’s needed from AI elements. Better still, the way Monarch can be heavily tailored and personalized to suit your own financial situation makes it much more potent than many rivals. Transactions, in particular, is an area that can be tweaked and fine-tuned with pinpoint precision.

Monarch: Support

While Monarch is very nicely designed, and beautifully thought out, there is plenty of help at hand should you need any support along the way. Some of the tools and functionality do take a while to explore and exploit to their full potential, and a pick through the advice pages can prove to be highly beneficial. Outside of that, there are also options for messaging support services who should be able to help with anything not covered in the comprehensive and nicely laid out Monarch website.

Monarch: Final Verdict

If you lament the demise of Mint, which was an excellent personal finance software tool, it’s well worth having a look at Monarch. Even more so when you consider some of the original team on Monarch also worked on Mint back in the day. The product has evolved a lot in recent years and now has plenty going for it, although that does come at a price.

It’s also interesting to note that the Monarch website has an area that allows potential users to compare it with YNAB, Simplifi, Credit Karma, and, yes, Mint too. They’re all similar and obvious rivals, but Monarch holds its own, and then some.