adam
7 months ago
I enjoy Monarch, it's fairly robust without being overwhelming. The app is slick, updates are reasonably frequent, and the devs provide a lot of transparency and feedback which I appreciate. Downsides: the AI feature can be a little daft, but it's in beta so that's understandable. Additionally Monarch has a hard time keeping a consistent connection with my retirement accounts which has results in inaccurate net worth and requires manual updates/cleanup.
Molly
6 months ago
Great platform. I was a mint user, upset that it merged with credit karma and lost all its usefulness as a budgeting program. Now I'm glad I was forced to make the switch. Love how easy it is to customize my categories and change the dashboard. Also ok with paying a reasonable amount and not being bombarded with ads encouraging debt.
Shane Labuzan
5 months ago
Functional, but still very buggy. This app functions properly about 80% of the time. The remaining 20% features random, weird bugs that are not repeatable and come and go randomly. Accounts not updating for months, but Monarch says they are still connected. I had to delete, reconnect to fix that issue. Now, my 401K balance will magically change to exactly $50,000 randomly (it has happened twice). Not sure why it randomly goes to exactly $50,000.
Chris Whitney
6 months ago
Very promising experience with the app so far. I was a mint user for 10 years and there are some adjustments to be made, but you can bring in all your transactions for a bit longer, before mint closes completely. Monarch has good integrations, some better than mint, to connect most, if not all, of your accounts. still getting used to the category creation, budgeting, and goal creation but very happy so far.
Matt Magliozzi
2 months ago
I really like Monarch but on two separate occasions I've discovered numerous missing transactions. Deleting and relinking the accounts fixed the issues temporarily, but that's a deal breaker for me. I haven't had that issue with another (significantly less expensive) app. Even if it means I'll have slightly less granularity in certain aspects of that other app as compared to Monarch, at least I'll have all transactions imported properly.
David Cruz
4 months ago
I really like this app! I can see my budget and compare it to my actual transactions. I also like how I can check expenses off of my list. However, I do have a few suggestions to make this app better: - Add cash accounts to liability goals. I want to track how much I'm paying towards a loan, including interest. - More efficient automation. I've created more than one rules for one type of transaction, and can't keep track of all rules for one merchant. - I want to track my cash on hand.
K W
3 months ago
Fabulous app that keeps getting better and better! It totally puts Mint to shame! There is a connection issue with one of my financial accounts and I have to re-log in to it frequently, but Monarch is working to resolve the issue with that institution. And the features and capabilities of Monarch FAR outweigh any inconvenience the re-logins cause! Do yourself a favor and try it out!!
Aditya Basu
4 months ago
Simple and effective in tracking purchases across credit cards, venmo, paypal etc. I mainly use it to track our (wife & mine) combined spending across various categories like dining, groceries, entertainment etc. It works with multiple accounts from the same bank/institution that have different logins. Their Robinhood integration doesn't pull the security holdings but this seems to be in beta as of now.
Glen Lovett
2 months ago
Ok functionality, but doesn't fit my needs. I want to track all my spending against a custom allotted monthly budget, but this app seemingly only allows budgets to be assigned per category. I don't need this level of granularity, and it in fact makes my use case impossible. Tried using "goals" functionality for this but its not suitable. Please reply if I'm missing some functionality.
Beez
2 months ago
My accounts were disconnected due to inactivity. Now I have to add in all of my accounts again. I miss the feature Mint were is the account was disconnected for any reason I could log back in and reset that way. I was a big fan of how the system for Mint work. It is jarring to go from a free service to one that cost $50 for one year, then $100 each year after. I would hope the team managing this app are well paid.
Sheree Grier
2 months ago
Was great a couple months ago; now all my accounts that use 2FA just straight-up won't stay connected longer than 3 days and when I contact support, they say that's just how it is. Uh--what? Other apps can stay connected to them! Two of my investment accounts stopped syncing recently too. Also this is a single-site browser and not a true app so it re-loads the whole UI while I'm using it if my Internet connection is spotty.
Audrey S
2 months ago
It's cool to have an accurate picture of where each of my budget categories are in almost real time, be aware of upcoming transactions, & set/evaluate goals whenever & where I am. My husband & I can each see where we are financially at any time, to help us decide on purchases.as we go. The one disappointment is that my credit institution's credentials need to be resubmitted about every week. a bit of a hassle.
Rich K
4 months ago
incredible to have everything in one place. Extremely helpful budgeting tool! That has been crucial for saving and financial discipline. It saves so much time over checking all the apps and putting pen to paper. I was concerned about having everything linked but that's what identity protection services are for. Monarch has been with it.
Chris Faircloth
3 months ago
A very helpful tool that's straightforward and easy to customize to my needs, but with some issues. Monarch's account syncing leaves something to be desired coming from the app formerly known as Mint, but that's common for ever app I've tried. After accepting that, the biggest pain is how my balance history resets any time I have to disconnect and reconnect an account, even though the transaction history is there.
Margarita Mouschovias
2 months ago
Okay, it actually happened to me - I migrated from Mint recently, and a little while later I got an email that Monarch noticed a reoccurring transaction, and I couldn't tell what it could be. A little bit of poking around in the app made me realize my old gym made a (honest) mistake when cancelling my membership a few months back, and I was still getting charged a small amount. The gym fixed it and reimbursed me when I contacted them, but I don't know when I would have realized without Monarch!
Nick H
2 months ago
Monarch has spotty support for FI's and the ones that are supported have sync issues on a regular basis. When you contact support they give you useless troubleshooting steps and don't offer to work with engineering to fix their problems, they just blame the FI. Without reliable transaction and balance updates the app becomes useless. I don't know why anyone would pay for this product when it's almost as much work to maintain as manual spreadsheets. I'm just glad I didn't pay full price.
Joshua Reed
3 months ago
Syncing is awful, never up to date. Since I can never trust the balances I have to login to each account to confirm things which completely defeats the purpose, and they're often not off by small amounts! Trending is not good, they don't have a great way to recategorize things that are incorrectly asset vs liability, they double count transactions a *lot* and you can refresh and refresh in the app which seems to do absolutely nothing to update the accounts.
David Crenshaw
2 months ago
Not user friendly, app layout/look, looks nothing like the images shown, not very intuitive, hard to understand what its asking or telling me, all the numbers and dates and payments are wrong on the app generated notifications and payment reminders, its telling me stuff i bought in the past, has payments coming up,, and hard to impossible to edit.... how is this rated so highly? This is terrible.. . This doesn't help me organize anything just wastes a lot of time and costs a lot of money..
Rich Yacovoni
2 months ago
I moved over from Mint and have been disappointed in the apps inability to maintain bank connections. Two of my accounts require frequent reconnecting. What's the point of having an app to gather all your accounts in one place if it frequently can't connect to them all? I spend more time reconnecting apps than I do looking at my budget. Not worth the $50 annual fee and I won't be renewing.
Jeffrey Johnson
2 months ago
Unreliable account syncing. Frequently loses sync with accounts and goes days without syncing. Updating logins is very slow and tedious. Have also had one account balance show 1000x the value it actually had. It's a pretty app, but data connectivity, data currency, and data accuracy are not good. I don't have these problems with other services I'm trying as a Mint replacement. I doubt I will renew my subscription when it expires.