Monarch Money review: is it worth $99.99 a year?
Monarch is the app a lot of former Mint users moved to: bank sync, budgets, net worth and investments in one polished dashboard on web, iPhone and Android. It has no free plan — after a 7-day trial it costs $14.99 a month or $99.99 a year, with a Plus tier at $199.99 a year.
Facts checked
The short version
Monarch Money is one of the most complete paid budgeting apps available, and it is worth it if you want everything — accounts, investments, net worth, forecasting — in one place and you are happy to pay around $100 a year. If you mostly want to set monthly budgets and track spending, you would be paying for a lot you will not use.
Worth it if you…
- want net worth and investments alongside your budget
- want forecasting and reports, not just a monthly budget
- want bank sync and do not mind a yearly subscription
Skip it if you…
- only need category budgets and spending tracking
- do not want another subscription
- prefer not to connect your bank accounts
How much does Monarch Money cost?
| Plan | Price | What you get |
|---|---|---|
| Core (monthly) | $14.99/mo | The full budgeting and tracking app on web, iOS and Android. 7-day free trial. |
| Core (yearly) | $99.99/yr | Same as monthly, about $8.33 a month. New users can use code WELCOME for 30% off the first year. |
| Plus | $199.99/yr | Introduced in April 2026, billed annually only and directly through Monarch rather than the app stores. |
There is no free plan after the trial. Monarch’s pricing page offers a no-questions-asked money-back guarantee.
What it does well
- One of the most complete feature sets: budgets, cash flow, net worth, investments, forecasting and reports.
- Works on web, iPhone and Android.
- Connects through several data providers (Plaid, Mastercard Data Connect and MX), which helps when one provider struggles with your bank.
- Ships steadily — an AI assistant, receipt scanning, forecasting and mobile reports all arrived in 2026.
Where it falls short
- No free tier: it is about $100 a year minimum after a 7-day trial.
- The breadth has a learning curve if you only want a simple monthly budget.
- Like every bank-sync app, it depends on connections that occasionally need re-linking.
How much does Monarch Money cost?
Core costs $14.99 a month or $99.99 a year after a 7-day free trial, and new users can take 30% off the first year with the code WELCOME. Plus, launched in April 2026, is $199.99 a year and is billed directly through Monarch only.
There is no free version. If you are comparing it with free apps, the real question is whether its extras — net worth, investments and forecasting — are worth roughly $100 a year to you.
Is Monarch Money worth it?
For people who want a full picture of their finances, yes — that is what Monarch does best, and it does it on web, iPhone and Android.
For people who want to budget and nothing else, probably not. Category budgets and spending tracking are available in free apps, and the time it takes to set up and maintain a full Monarch dashboard is only worth it if you use the parts beyond the budget.
Monarch Money vs Wally
| Monarch Money | Wally | |
|---|---|---|
| Price | $14.99/mo or $99.99/yr (Plus: $199.99/yr) | Free |
| Free version | No — 7-day trial only | Yes — fully free, no subscription |
| Platforms | iOS, Android, Web | iOS & Android |
| Account tracking | Automatic bank sync | Manual entry + CSV import |
| Budgeting approach | Flexible budgets + net worth | Category budgets (incl. 50/30/20) |
| Bill reminders | Yes | Yes |
| Best for | Investors tracking net worth across accounts | Anyone who wants simple, free budgeting |
Full breakdown: Wally vs Monarch Money
Frequently asked questions
How much does Monarch Money cost?
Monarch Core costs $14.99 a month or $99.99 a year after a 7-day free trial. Monarch Plus costs $199.99 a year, billed annually. There is no free plan.
Is there a free version of Monarch Money?
No. Monarch offers a 7-day free trial, then requires a Core or Plus subscription.
Is Monarch Money worth it?
It is worth it if you want bank sync, net worth, investments and forecasting in one app. If you only want category budgets and spending tracking, a free budgeting app covers that without the yearly cost.
How does Monarch connect to my bank?
Monarch uses third-party data providers — Plaid, Mastercard Data Connect (formerly Finicity) and MX — to connect to financial institutions.