Comparison
FreeBudget vs Monarch Money
Free budgeting vs a premium financial management app at $14.99/month. Here is how they compare.
| Feature | FreeBudget | Monarch Money |
|---|---|---|
| Monthly cost | $0/mo | $14.99/mo |
| Annual cost | $0/yr | $99.99/yr |
| Free trial | Free forever - small fee for bank syncing | 7 days |
| Bank syncing | ||
| Budget tracking | ||
| Net worth tracking | ||
| Custom categories | ||
| CSV import/export | ||
| Spending reports | ||
| Collaborative budgets | ||
| Recurring transaction rules | ||
| Financial advisor integration | ||
| No ads | ||
| No third-party data selling | ||
| Credit card required to start | No | Yes |
How FreeBudget and Monarch Money Compare
Monarch Money is a premium, full-featured finance app. FreeBudget is a free, focused budgeting tool. Both have their place.
Monarch Money has quickly become one of the most popular personal finance apps, especially after Mint shut down in 2024. It offers a beautifully designed experience with bank syncing, investment tracking, collaborative budgets, and detailed reporting. It is a well-made product that has earned its reputation.
FreeBudget serves a different need. It is a budgeting tool built for people who want to plan their spending, track progress, and understand their net worth without paying a monthly subscription. It does not try to replace Monarch in features. It offers an alternative for people whose primary need is budgeting.
The comparison comes down to value and priorities. Monarch gives you everything in one polished package for $14.99/month. FreeBudget gives you core budgeting for free. If budgeting is your main goal and you do not need advanced automation, FreeBudget covers the essentials without the cost.
Why choose FreeBudget?
Free to Budget, No Subscription
Monarch Money costs $14.99/month or $99.99/year after a 7-day trial. There is no free tier. FreeBudget gives you budgeting, tracking, net worth reports, and CSV exports without a subscription. Bank linking has a small per-account fee to help cover our costs, but the core budgeting experience is completely free.
Intentional Over Automatic
Monarch automates heavily: transactions flow in, categories are suggested, insights are generated. This makes it effortless, which is great if you want a hands-off experience. FreeBudget encourages more intentional engagement with your finances. While there are auto-categorization features, You review transactions, assign categories, and actively manage your budget. For some people, that hands-on approach leads to better financial awareness.
Start Without Commitment
Monarch requires a credit card to start and works best when you connect all your accounts right away. FreeBudget lets you start with no payment information, no bank connections, and no commitment. Add accounts manually, import CSVs, or link your bank later. You choose the pace.
No Trial Clock Ticking
With FreeBudget, there is no 7-day countdown pressuring you to decide. Take your time setting up, explore the features, and decide on your own timeline. What you see is what you get.
When Monarch Money might be the better choice
You want an all-in-one finance app
Monarch combines budgeting, investment tracking, net worth, bill management, and financial planning in one app. If you want a single place for your entire financial life, Monarch does this better than most apps on the market.
You need investment tracking
Monarch connects to brokerage accounts and provides portfolio insights. FreeBudget tracks account balances for net worth but does not analyze investment performance. If tracking your investments alongside your budget matters, Monarch has you covered.
You prefer maximum automation
Monarch automatically categorizes transactions, detects recurring expenses, and generates insights with minimal effort from you. If you want your finances organized without manual work, Monarch's automation is genuinely impressive.
The bottom line
Monarch Money is one of the best personal finance apps available. It is polished, comprehensive, and well worth the price for users who need its full feature set. FreeBudget is the right choice if budgeting is your primary goal and you want to start for free with no trial, no credit card, and no pressure. Try FreeBudget and see if it covers what you need.
Frequently asked questions
What is Monarch Money?
Monarch Money is a premium personal finance app that connects to your bank accounts and provides budgeting, net worth tracking, investment tracking, and collaborative tools for couples and families. It has earned strong reviews for its clean design and comprehensive feature set. It is a subscription-only product at $14.99/month or $99.99/year.
Does Monarch Money have a free plan?
No. Monarch Money offers a 7-day free trial that requires a credit card. After the trial, you must subscribe to continue using the app. There is no free tier or limited version available.
Is Monarch Money better than FreeBudget?
Monarch Money is a more feature-rich app overall. It offers investment tracking, financial advisor integration, automatic transaction categorization, and a polished experience. If you are willing to pay $14.99/month and want a comprehensive financial management tool, Monarch is an excellent choice. FreeBudget is the better option if you want solid core budgeting without the subscription cost.
Can couples use FreeBudget together?
Yes. FreeBudget supports shared household budgets so couples can collaborate on their finances. Monarch also offers collaborative features and is well-known for its couples-oriented experience. Both apps work well for shared budgeting.
Ready to take control of your finances?
Join the growing community who've simplified their money with FreeBudget. It takes less than a minute to start.