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Monarch — The modern way to manage your money
Monarch is a modern personal finance app that actually helps you achieve your financial goals. With Monarch you can manage your entire financial life in one place, create a financial plan, and then easily follow that plan to achieve your financial goals.
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@shashcoffe See my comments at the top of this post that outline the main differences. Thanks!
Do you currently support, or plan to support, multiple currencies? Great for expats. So if you live in one country but have accounts with transactions in another country, you can calculate in a single currency (or equivalent). Otherwise everything is inaccurate. Thanks!
@nicksimard we don't currently, but would like to in the future. Our roadmap is public and voted on by users, and it has definitely come up a few times.
Hey everyone, I'm Jon, one of the co-founders of Monarch.
We’re building Monarch into the best platform to manage your personal finances. We launched earlier this year on web, iOS, and Android, and have been rapidly improving the product based on user feedback ever since.
Give Monarch a try and let us know what you think! Use the promo code PRODUCTHUNT20 to get 20% off forever (you’ll need to redeem this coupon on web to get the discount).
P.S. Thank you @chrismessina for hunting us!
@chrismessina @jmsuth any chance there is an updated promo code? Just tried the above code but it didn’t work 🙇♂️
Huge fan, been using for a while now - really hoping you guys can do crypto well (cold storage, exchanges, transactions) so we can manage our finances in one place.
Nice to have everything personal finances-related in one place, but bank integrations are somewhat of a headache most of the times. If you get that flowing, that's great!
@bogdan_ionita Yes! This is a non-trivial problem. We've built a system that lets us work with multiple data aggregators to choose the most reliable connection for each bank.
Hi folks! I’m Val, one of of the co-founders of Monarch.
The personal finance problem is near and dear to me, as I was the first product manager on the original team that built Mint over 13 (!) years ago.
Despite that (and having tried every personal finance app since) I found that my wife and I were still manually updating spreadsheets to manage our household finances. We set out to solve that problem with Monarch.
We’re often asked “How is Monarch different from other personal finance apps?”.
Here are some of the things that make Monarch unique:
1) Many apps are good at showing you what happened to your money historically, but by then it’s too late to make any changes. Monarch helps you create a financial forecast (or plan) toward your goals, and then follow that plan. Unlike a spreadsheet, your plan stays up to date in realtime.
2) Personal finance apps are only as good as their underlying data. We’ve built Monarch to work across multiple data aggregators and automatically route you to the best aggregator for a given financial institution. We are continuously investing in this area.
3) We have a transparent, subscription-based business model. We set out to build the best product in the personal finance space and believe in the “you get what you pay for” mantra. We don’t show ads nor sell your data, and we’re obsessed about your privacy.
4) We’re customer obsessed. Because we’re paid by our customers instead of advertisers, we listen to what our customers want and then build it. (Crazy, huh?). We have daily calls with Monarch customers and publish our roadmap so that people can suggest and vote on features.
5) We’re multi player. Managing your finances is often a multi person activity. Monarch makes it easy to securely add multiple people to your account, such as a partner, financial advisor, or accountant.
6) We’re multi-platform. Sometimes you want to manage your money on your phone, sometimes you want to sit down at a computer and dig into the details. Monarch supports both with our mobile (iOS, Android) and web app.
Finally, we’re just getting started. We have a lot of exciting things planned (Crypto support coming soon!).
We hope you’ll check us out! Sign up on our website with promo code PRODUCTHUNT20 to get 20% off forever.
@dardanth Thank you! We're only available in the U.S. for now, but we'll expand as our data partners add support for more international financial institutions. We obviously need to add multi-currency support as well.
@valagostino You say that privacy is a top priority, but unfortunately I inherently don't trust plaid or their privacy/security practices.
I'm not a privacy-at-all-costs kind of person and I don't really mind that Google knows most of my interests, but my financial data is more important to me than other areas of data privacy.
I don't think there's a good solution to this problem until the banks standardize, but I do not ever plan to give plaid or any third party aggregator service full read/write access to my bank account (especially when only one or the other is usually needed), and their terms of service give me significant pause in terms of their ability to sell access to my data to parties who are neither plaid nor the intended application.
@valagostino thank you for sharing such important info. I've been using Monarch for 2 months and it's a great app for managing money. My wife likes it too because she doesn't know much about money management and this apps helps her a lot, lol. We've recently had several problems with our loan debt, but she has found somewhere an article at https://thefrugalexpat.com/dave-... about getting out of debt. It helped a lot along with this app and several other money managing apps. Thank God we have such technologies now.
After my wife and I had our first kid, we found ourselves with a bunch of financial questions. What will our expenses look like now? How much do we need to save? What if one or both of us decides to take time off (or work on a start-up)? We tried all the products/tools we could find, but ultimately nothing helped. We ended up in a spreadsheet doing the math together.
Money is one of the most stressful parts of most people's lives, behind all sorts of morbid statistics (one of the top drivers of stress, depression, divorce, suicide). We built Monarch to help you make sense of your finances, then figure out a plan and actually stick to it. We abstract away the nitty-gritty, but leave you in control.
We build Monarch with no ads, no selling your data, no tricks—I've worked on enough "free" (aka ads-monetized) products to understand the underlying tensions. Especially when it comes to money, you don't want a product where your interests compete against those of advertisers.
Nice app. Very useful features. Congrats on you product launch and kudos for being 3rd product of the day.
I'm the ex-UX lead and Mobile PM from Mint.com and worked alongside @valagostino. I'd been looking forward to this for 10 years and it exceeds everything I had hoped for. Turns out you get what you pay for, go figure. My family has been using it for over half a year and it's the mint 2.0 we all wanted. little tweaks that just make things so much easier, actual customer support, and better "auto-pilot." But most of all, an actual solid business model that aligns with user need.
As a personal finance enthusiast (aka nut), I've tried literally every single financial app on the market. I've been using Monarch since the beta and its easily my favorite.
- The UI is clean and uncluttered (as a UI developer, this is very important to me)
- They support multiple platforms like Android, Web, and iOS
- They add new, awesome features all the time
- They charge you money so they aren't selling your data or cluttering the UI with ads
- And much.. much.. more.
Looks great! 👏🏻 Congratulations.
Question about investments, how does that work? Does it integrate with Robinhood, Coinbase, etc?
The biggest issue I had with Mint is that it doesn't integrate with Robinhood so treats your deposits into that as an expense + doesn't truly reflect your net worth since it cannot see your investment portfolio.
Hey @tawfiqabukhajil, we integrate with Robinhood and plan to add Coinbase (and other crypto exchanges) soon. We just launched an investments feature (https://www.monarchmoney.com/wha...), so your net worth should be accurately reflected... and as long as your deposits are correctly classified as being transfers, they won't count as expenses (if it doesn't automatically happen, you can easily set up a Transaction Rule to do it).
I love that this is designed to deliver forward-looking change, not just past-looking insights. SignalFire is honored to get to fuel this team!
Thanks for building this @valagostino !
I've tried the product and it is indeed better than Mint. I also like how you guys handle the new feature requests and voting. If you don't mind answering - have you built this functionality in house or you're using some kind of integration with a task system?
@rick_z Thanks for the kind words! We're using ProductBoard to track the feature requests and voting, you can embed the feature request portal in websites and apps
Congrats on the launch Monarch team!
I've been using Monarch Money since beta and couldn't say better things about it! This is the financial tool I have been wanting for years, and then some. I've tried most financial tools and this blows everyone else out of the water!
The speed of development and coordination of new feature launches is clearly executed by a well orchestrated team.
:party_parrot:
PS - The lack of ads is so damn refreshing 😆
@connerdrew Thank you for the kind words, Conner! We're just getting started 🙂
Looks really nice, congrats! I have been looking for a good PFM for a long time, but didn't get satisfied with any of the existing solutions. Wish you good luck and hope you can achieve that.
@marcos_monteiro thanks! Please try us out, many of our happiest customers tried multiple PFMs before settling on Monarch.
I really like the design of Monarch! I wish the product supported per account access control for multiplayer.
Thanks @pspeter3 ! I reached out via a separate channel to better understand your use case as we think about more multiplayer features.
I've been using Monarch since early in the beta. The team has done a great job consistently adding features that are driven by user input. It's the best personal finance tool I've seen. Some standouts for me:
- The transaction categorization remembers what you've done in the past and makes it easy to add your own categories.
- Data is always up to date. And I have only found 1 account that I couldn't link (which is a new product, so not surprising)
- Multi-user! First product I've seen that allows more people to manage the same data. Love that my partner can use it too and manage our personal and shared accounts
- The budgeting interface is useful to build a budget from nothing, or to use your current spending patterns to help understand what good targets are.
- UX on both web and mobile app is fantastic. It's consistent and simple to use on both.
Keep up the excellent work! I'm excited to see what features come next.
My wife and I LOVE Monarch! We've been using it for about 3 months, and it has completely replaced Mint for us. The UI is so fast and easy that categorizing transactions is almost fun. The speed of product iteration is great too.*
Congrats on the product and the launch team!!
(* tho please let us archive old accounts :))
@bosmeny just wait till you see our new (currently in the works) transaction edit / review flow :) and yes, archiving of accounts is definitely on our mind.
Love your product been using it for 3 months now. I couldn't be happier!
I love how all the user feature request are public and can be voted on. The transparency is one of the reasons I love you guys so much! Keep up the fantastic work! Also your design is top notch!
Me: "So how does a beta-user and early adopter earn 20% off forever..." 😏
Monarch: "Sorry! New users only!"
FromNotion