Monarch Money

Monarch Money is an online personal finance platform that pulls every account into one dashboard so budgeting and spending trends are clear at a glance.

How to use Monarch Money

1. Create an account on Monarch Money and connect current, savings, credit card, loan and investment accounts.
2. Set up planned income and monthly budgets for each category the first time the data syncs.
3. Review the cash-flow Sankey visual to spot where pay-cheque pounds actually end up.
4. Tag or recategorise any transactions that landed in the wrong bucket to keep reports tidy.
5. Check the spending timeline and alerts tab each week to catch unusual activity early.
6. Open the shared workspace if a partner needs access and decide which accounts they can view or edit.
7. Export reports or use the mobile widget when preparing for bill-pay day.

A closer look at Monarch Money

I moved over to Monarch after growing tired of juggling bank apps and spreadsheets. Within minutes every balance appeared on a single screen, and the relief was immediate. The colourful Sankey diagram became my favourite feature; seeing income flow into rent, food, savings and ‘fun’ made adjusting targets feel like sliding plates on a mixing desk rather than crunching numbers.

The tool feels designed for households as much as individuals. My partner and I both log in, set joint goals, and get nudges when either of us blows the restaurant allowance. Security never felt like an afterthought, either. Two-factor authentication plus read-only bank connections gave me peace of mind while testing the fourteen-day free trial.

Advantages

• Detailed day-to-day budgeting: Categories, roll-overs and predictive cash-flow charts make planning straightforward.
• Standout visualisations: Graphs and the Sankey view turn raw figures into stories anyone can follow.
• Shared access: Couples can manage combined and separate finances without awkward workarounds.
• Reliable connections: My accounts stayed in sync; missing transactions were rare.
• Free trial: Two weeks of full access lets you judge value before paying the higher-than-average fee.

Drawbacks

• Pricey subscription: At the upper end of budgeting app costs, the fee may feel steep if you only need simple tracking.
• Steep learning curve: The sheer number of menus can overwhelm newcomers; I spent an evening clicking around before feeling comfortable.
• Basic investment section: Portfolio charts exist but lack the depth keen investors expect.

Why I’ll keep using it

Despite the subscription, Monarch Money saves me hours every month and has already curbed impulse spending. The app nails everyday money management, and while the investment tab could grow, the budgeting power and slick visuals make that fee worthwhile for my household.