Monarch Money Review 2025: Best Budgeting App for Couples

When Mint announced plans to shut down at the end of last year, it seemed like every money management app service proclaimed it would be the best Mint alternative. Monarch Money was one of them. And while I hadn’t heard of the app before Mint’s departure, my first look revealed that it could stand toe-to-toe with what used to be the most popular budgeting app around.

Other people seem to love Monarch Money, too. With more than 26,000 ratings from Apple users, the app scores a near-perfect 4.9 stars, and Android users are almost as impressed. The app has 4.7 collective stars from more than 5,700 reviews on Google Play. 

So, I took Monarch for a test drive to see if it really is worth the applause. The verdict: Yes. It’s pretty great. 

Monarch Money

Like

• 
  intuitive
• 
  designed for couples
• 
  investment tracker

Don’t like

• 
  limited trial period
• 
  on the pricier side
• 
  syncing issues

How does Monarch Money work?

When you join Monarch Money, you’ll provide details for your bank accounts, credit cards, investments, loans and other asset types such as cryptocurrency, real estate and art. If you’re a homeowner, you can also use Zillow’s Zestimate feature to add your property value to help calculate your net worth.

I used Plaid to sync my bank info. If you experience any challenges connecting the app with your financial institutions, you can use MX, Finicity or manually add your details.

Monarch combs through around two years of your transactions to provide estimates of your income and regular expenses. It’s not an exact science, but I found it helpful. It offered a visual breakdown of how much your income ebbs and flows.

Each time you complete a new transaction, Monarch either automatically assigns it to a category or asks you to label it if it doesn’t recognize the merchant.

One of the features I found most valuable is a savings rate tool that shows you how much you’re saving on a monthly basis. Since most financial experts recommend somewhere in the 10% to 15% range, it’s an easy way to see how you’re doing. 

If you’ve lost track of how many subscriptions you’re regularly paying for, Monarch can automatically search for recurring merchant charges and display them in a calendar view. It’s an easy way to spot bills you may want to cancel.

You’ll need to pay to use Monarch. The monthly tab is $14.99, although you can score some savings by signing up for an annual plan at $99.99.

There’s no free version, but there is a seven-day trial period to try it out. My test period with Monarch made me feel like the service is well worth the cost. 

Note: You can get 50% off your first year of Monarch by using code NEWYEAR2025 when you sign up. You must sign up for an annual plan to qualify.

What we like

• Intuitive: When you first start using Monarch, the app sifts through your transaction history for the past two years to develop a budget framework. While it’s by no means exact — I needed to tweak the app’s initial recommendations based on my irregular income as a freelancer — it’s a great starting point. 
• Designed with couples in mind: Monarch allows you to sync multiple bank accounts with a partner, and you’ll get monthly email reports that can help you discuss your progress toward specific saving goals. Since money can be an awkward conversation, I’m a big fan of this feature. 
• Investment tracker: Monarch Money’s built-in investment tracking tool offers a comprehensive look at how your investments are performing. If you’re picking your own stocks, it’s an easy way to see the trend lines without opening a separate app. I actually found Monarch Money’s view offered a better picture than my self-directed Chase app.
• Cryptocurrency options: Monarch is one of the few budgeting apps that sync with some crypto exchanges — namely, Coinbase. (But for me, this belongs in the con section too. Gemini — the exchange where I hold a small amount of crypto — is not currently supported.)

What we didn’t like

• Limited trial period: Seven days is a relatively short window to learn whether a budgeting app is right for you. You can get a longer, 30-day trial by using code WELCOME30 when you sign up (through Sept. 16, 2024). But it’s only good for the annual plan.
• Cost: The price tag — $14.99 a month or $99.99 a year — may feel like a sizable chunk of cash to pay for evaluating your money. There are other popular budgeting apps that charge less.
• Syncing issues: Before I connected my checking and savings accounts, I received an alert regarding the potential for errors with multiple Chase accounts. While I didn’t experience any major challenges, that tells me that plenty of other people have needed assistance with what should be a seamless process.

Is Monarch Money safe?

Monarch Money uses bank-level security, which means the app’s encryption and data standards are as safe as your actual bank’s. You can also turn on multifactor authentication for an extra layer of security.

Additionally, the company doesn’t sell data to third parties, which is a key selling point for me. I don’t want a budgeting app to be able to profit from my data to promote credit cards or other financial services. 

Who is Monarch Money best suited for?

If you’re overwhelmed by the idea of building a budget, Monarch Money is a great pick. Instead of having to sit down and review your information yourself, Monarch’s algorithm can nudge you in the right direction by scouring your transaction history to identify spending and saving patterns. To be clear, though, it won’t do everything for you. You’ll need to take some time to spot any gaps or errors in Monarch’s math.

The app is an especially good choice for couples due to its monthly reporting features and shared goal tracking. That doesn’t set it completely apart from other budgeting apps since many offer free access for multiple users, but Monarch has labeled itself as an option for couples. So, I’m hoping to see more features rolled out to help happy couples stay happy when it comes to managing joint finances.

Alternatives to the Monarch Money app

There are plenty of other budgeting apps worth test-driving. We also recommend checking out Rocket Money. This app is cheaper — as little as $6 a month — with one notable difference: Rocket Money will do the work for you to negotiate or cancel some of your recurring bills, while Monarch simply tells you about them. If you ask Rocket Money to handle those responsibilities, however, the company will keep a cut of your savings. 

Manage your joint finances with Monarch Monarch.

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