Budgeting apps rarely go on sale. When they do, it’s usually 10 or 20 percent off. So Monarch Money’s current deal stands out.
Right now, new subscribers can grab a full year for just $50. That’s half the normal $100 annual price. The catch? You need to use code MONARCHVIP at checkout through their website. Plus, the discount only works for new users signing up via web, not through the mobile app.
Let me be clear about something upfront. Monarch isn’t the simplest budgeting app out there. It has a learning curve. But that complexity brings serious power for people who want detailed financial tracking.
What Makes Monarch Different
Most budgeting apps show you basic spending categories and call it a day. Monarch goes deeper.
The main dashboard displays your net worth front and center. Below that, you’ll see recent transactions, spending comparisons with last month, current income, and upcoming bills. Your investments and financial goals appear too. Everything connects in one view.
But here’s where it gets interesting. Monarch offers a dedicated “month-in-review” page. This isn’t just a spending summary. It’s an in-depth analysis of what happened with your money over the past 30 days. You can track how your net worth changed over time and spot trends you might have missed.
The Setup Takes Work
Fair warning. Getting Monarch configured properly requires effort.
The app can connect to your bank accounts automatically. It syncs with Apple Card, Apple Cash, and Apple Savings accounts. Transactions and balance history pull in without manual entry. Recurring expenses get detected automatically. Monarch even updates your car’s current value based on market data.
However, you’ll probably need to tweak things. Categories might need adjusting. Some transactions require manual classification. The initial setup takes longer than simpler apps like Mint or YNAB.
So why bother? Because once it’s dialed in, Monarch provides unmatched detail and customization.
The Customization Edge
Generic budgeting categories don’t work for everyone. Maybe you need to track business expenses separately from personal spending. Perhaps you’re managing multiple properties or investment accounts. Or you just want incredibly specific breakdowns of where money goes.
Monarch lets you create custom categories and subcategories. You can set different budget rules for different accounts. The goal-tracking system adapts to whatever financial targets you’re pursuing, whether that’s saving for a house or paying off debt.
This level of granularity matters for people with complex finances. Students or single-income households with simple spending might not need it. But families juggling multiple income streams, investments, and savings goals benefit enormously.
What You’re Actually Getting
Let’s talk about what $50 buys you for a full year.
First, unlimited account connections. Many budgeting apps limit how many accounts you can link on basic plans. Not Monarch. Connect every bank, credit card, investment account, and loan you have.
Second, collaborative features. You can share access with a partner or family member. Both people can see the full financial picture and make updates. This beats passing login credentials around or maintaining separate tracking systems.
Third, investment tracking that actually works. Monarch monitors your portfolio performance, tracks dividends, and shows how your investments contribute to overall net worth. Most budgeting apps ignore investments entirely or provide superficial data.
Fourth, custom reporting. Build reports that answer your specific money questions. Want to know how much you spent on restaurants in Q4? Need to track business mileage for taxes? Monarch can generate those reports.
The Competition Charges More
Context matters here. Let’s compare pricing.
YNAB (You Need A Budget) costs $109 annually. It’s simpler than Monarch but less flexible. Quicken Simplifi runs $72 per year when on sale. Copilot charges $15 monthly with no annual discount, totaling $180 yearly.
So Monarch at $50 for the first year represents genuine value. Even at full price, $100 annually undercuts several competitors with similar feature sets.
Who Should Skip This
Monarch isn’t for everyone. Some people shouldn’t bother.
If you prefer dead-simple interfaces, look elsewhere. Apps like Copilot or Simplifi offer cleaner, more straightforward experiences. They sacrifice customization for ease of use.
If you’re only tracking basic spending, Monarch’s depth becomes overkill. Free apps or even spreadsheets might serve you better.
If you hate spending time on financial management, Monarch requires too much attention. The initial setup and ongoing maintenance demand investment. Simpler automated tools make more sense for hands-off users.
The Real Question
Here’s what matters most. Do you want to understand your finances deeply or just get basic alerts about overspending?
Monarch serves people who want the former. It’s built for users willing to invest setup time in exchange for detailed insights. The app rewards engagement with increasingly useful data over time.
At $50 for a full year, the barrier to trying it drops significantly. You can set it up, use it for a few months, and decide if the complexity adds value. If not, you’re out fifty bucks. If it clicks, you’ve found a powerful tool at half price.
The offer won’t last forever. Monarch typically charges full price except during occasional promotional periods. So if detailed financial tracking appeals to you, grab the discount while it’s available.
Just remember to use that code at checkout. And be prepared to spend some time getting everything configured properly. The payoff comes after you’ve done the work.
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