Monarch money

Personal finance management with AI.

Details

Free Trial

Starts at $75/mo
December 3, 2023
Features
Net Worth Syncing
Budgeting
Investment Tracking
Best For
Financial Analyst
Wealth Manager
Financial Coach
Accountant
Use Cases
Personal Finance Management
Investment Management
Collaborative Finance Management

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What is Monarch money?

Monarch Money is an AI-powered personal finance assistant that helps users manage their money by bringing all their financial accounts into one place and using advanced AI technology to improve their financial outcomes. With Monarch Money, users can sync their bank accounts to get a complete picture of their net worth, create a customizable budget to stay on track, track their investments and portfolio performance, gain insights into their spending habits, and set and track progress towards financial goals. The AI assistant also offers personalized advice, valuable insights, and ways to save more money. It works by securely aggregating user data from various financial institutions, analyzing it using AI algorithms, and providing users with actionable recommendations and a personalized financial dashboard. Monarch Money operates on a subscription-based model, with pricing options available for individuals and households.

Monarch money Features

  • Net Worth Syncing

    Sync your bank accounts to get a complete financial picture.

  • Budgeting

    Create a customizable budget and stay on track month to month.

  • Investment Tracking

    Track your portfolio allocation and the performance of your holdings.

  • Spending Insights

    Gain valuable insights into your spending history across all accounts.

Monarch money Use Cases

  • Personal Finance Management

    Monarch Money helps users manage their personal finances by bringing all their financial accounts into one place, tracking their spending, and providing personalized budgeting and financial goal tracking.

  • Investment Management

    Monarch Money allows users to track their investment portfolio allocation and monitor the performance of their holdings, providing insights and analysis to help optimize their investment strategies.

  • Collaborative Finance Management

    Monarch Money enables users to invite a partner to their household, offering a joint view of their finances for seamless collaboration on budgeting, tracking expenses, and achieving shared financial goals.

Related Tasks

  • Budget Creation and Management

    Create personalized budgets and track expenses to maintain financial discipline and achieve savings goals.

  • Net Worth Tracking

    Monitor and track the overall value of your assets and debts to understand your financial standing.

  • Investment Portfolio Management

    Track and optimize your investment portfolio by monitoring asset allocation, performance, and staying informed about market trends.

  • Expense Categorization

    Automatically categorize expenses across various accounts to gain insights into spending habits and identify areas for improvement.

  • Goal Tracking

    Set financial goals like saving for a house or retirement and track progress over time to stay motivated and on track.

  • Spending Analysis

    Understand your spending patterns by analyzing transactions and identifying trends to make informed financial decisions.

  • Financial Insights and Advice

    Receive personalized suggestions and actionable insights to optimize your financial decisions and improve your financial well-being.

  • Collaboration and Sharing

    Invite partners or family members to collaborate and share a joint view of your finances, enabling better coordination and financial planning.

  • Financial Analyst

    Utilize Monarch Money to analyze and manage client's personal finance portfolios, track investments, and provide financial recommendations based on the AI-powered insights.

  • Wealth Manager

    Leverage Monarch Money to assist in creating comprehensive financial plans, monitor net worth, track spending patterns, and provide personalized advice to clients.

  • Financial Coach

    Use Monarch Money as a tool to guide clients in setting and tracking financial goals, creating budgets, and monitoring spending habits for improved financial management.

  • Accountant

    Utilize Monarch Money to gather and analyze financial data, reconcile transactions, and generate reports to support accurate accounting practices and help clients make informed financial decisions.

  • Investment Advisor

    Utilize Monarch Money to track client portfolios, monitor asset allocation, and analyze investment performance in order to provide tailored investment strategies and recommendations.

  • Small Business Owner

    Utilize Monarch Money to monitor business finances, track expenses, create budgets, and gain insights into cash flow patterns for effective financial management.

  • Personal Financial Planner

    Utilize Monarch Money to collect and analyze client's financial data, create customized financial plans, project future scenarios, and provide recommendations for achieving financial goals.

  • Retirement Planner

    Leverage Monarch Money to evaluate retirement savings, project future income streams, analyze expenses, and provide optimized retirement planning strategies to clients.

Monarch money FAQs

How is my data protected?

Monarch Money AI protects user data with bank-level security measures, such as not storing login details and providing read-only access to accounts.

What if I get an incorrect response?

If you receive an incorrect response, you can report it to Monarch Money AI support for further assistance.

How do you compare my spending to others?

Monarch Money AI compares your spending to others by utilizing anonymized data from fellow users.

Is Monarch available outside the US?

Currently, Monarch Money AI is only available in the United States.

What types of accounts can I sync with Monarch?

Monarch Money AI can sync with over 13,000 banks and financial institutions.

Can I customize my financial dashboard?

Yes, users can create their own personalized financial dashboard according to their preferences.

Can I track my progress towards financial goals?

Absolutely, Monarch Money AI allows you to track your progress for goals like buying a house or planning for retirement.

Can I invite a partner to view my finances?

Yes, Monarch Money AI enables users to invite a partner to their household, providing a joint view of finances for collaborative management.

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