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Monarch Money Management
Posted on 1/26/26 at 12:52 pm
Posted on 1/26/26 at 12:52 pm
Anyone use Monarch? Any tips and tricks for a newcomer? I just spent like 2-3 hours connecting all my accounts and going through transactions over the last 60 days.
7
Posted on 1/26/26 at 1:07 pm to Roy Curado
i'd take some insight here as well. been linked to it for a while, but haven't fully explored its function, other than to see a consolidated view of everything
Posted on 1/26/26 at 1:33 pm to Roy Curado
I just started using it this year. So far I'm liking it more than the other apps I've used in the past
Posted on 1/26/26 at 2:00 pm to Roy Curado
It's a pain at first, but categorizing all your purchases and setting rules for recurring expenses is important when you start. Once you get all the rules set and items categorized it handles it automatically pretty well. I just go in once a month and make corrections if needed. I haven't downloaded the amazon patch that automatically categorizes amazon purchases, but it's on my list to do considering that's like half our shopping and only going into one bucket whether it's necessary stuff like diapers or unnecessary stuff like kitchen appliances that will never get used.
It high level reminds me every year that I spend too much on Cigars and my wife spends too much on the dog.
It high level reminds me every year that I spend too much on Cigars and my wife spends too much on the dog.
This post was edited on 1/26/26 at 2:05 pm
Posted on 1/26/26 at 3:12 pm to Roy Curado
Just doing my best to keep up with wife's transactions.
It's a nice visual tool. I like the auto-category for Amazon, I just wish I didn't have to re-link it so often.
I check it frequently, but don't use the budgeting tool or anything. I just try to make sure numbers are trending in the right direction, and love seeing a consolidated view of all the accounts.
It's a nice visual tool. I like the auto-category for Amazon, I just wish I didn't have to re-link it so often.
I check it frequently, but don't use the budgeting tool or anything. I just try to make sure numbers are trending in the right direction, and love seeing a consolidated view of all the accounts.
This post was edited on 1/26/26 at 3:18 pm
Posted on 1/26/26 at 3:20 pm to Roy Curado
quote:
Anyone use Monarch
I use it. Besides having to pay for it, it was a good replacement for Mint
Posted on 1/26/26 at 3:31 pm to Roy Curado
I’ve been using ynab for years and generally have no complaints (except for price, I guess). Any reason I should consider a switch?
Posted on 1/27/26 at 7:41 am to Roy Curado
Monarch is definitely the true financial nerd version of all the money management software. I've used it for about 1.5 years now and still love it. They continually add new features too to make it more convenient or powerful.
I think one of my only gripes is the auto tool (Vinaudit) is pretty overzealous in valuations. You put in the license plate or vin of your car and it auto updates the value of the vehicles occasionally. It thinks my 2014 Accord is worth almost $12k and wifes 2022 MDX over $35k.
I'd probably be lucky to get $8k-$9k for my Accord private party and the wife's MDX more like low $30k range private party absolute best case. Trade-in value certainly below that obviously. I dont know its taking into account actual mileage or condition of the vehicles.
I think one of my only gripes is the auto tool (Vinaudit) is pretty overzealous in valuations. You put in the license plate or vin of your car and it auto updates the value of the vehicles occasionally. It thinks my 2014 Accord is worth almost $12k and wifes 2022 MDX over $35k.
I'd probably be lucky to get $8k-$9k for my Accord private party and the wife's MDX more like low $30k range private party absolute best case. Trade-in value certainly below that obviously. I dont know its taking into account actual mileage or condition of the vehicles.
Posted on 1/27/26 at 9:28 am to thunderbird1100
yeah i just manually put a number in based off KBB, but always on the low end and don't count it towards assets. 
Posted on 1/27/26 at 2:33 pm to JohnnyKilroy
I ran an extended trial of Monarch and ultimately stayed with YNAB. Maybe it was familiarity, but I'm pretty hands on so I like that aspect of YNAB. Plus my shite is so dialed in, it was hard to dive into something else. Again, I've been using it since late 2016.
Monarch's Sankey Diagram was cool but that's about the only place it really trumped YNAB for me. I could probably export YNAB to Chat GPT and get the same Sankey Diagram.
Monarch's Sankey Diagram was cool but that's about the only place it really trumped YNAB for me. I could probably export YNAB to Chat GPT and get the same Sankey Diagram.
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