Great video, Caleb. Props on the choice of ambient music in the background - most RUclipsr filler music in between cuts is a massive pet peeve of mine, and you're doing it right. I just pulled the trigger on Monarch for a year, after YNAB finally broke me. So far, loving the UI and experience, but I've got a learning curve ahead of me. I would add that a downside is that there's really no online community thus far, since Monarch is pretty new. As a result, there's currently about 3 videos across all of RUclips, including yours.
Thanks so much, Robert. Yeah I’ve noticed that there aren’t very many videos out there for Monarch so I’m glad I can provide some value there. It definitely takes a bit of learning to use. As you get into it more, let me know what you think about it!
still torn whether I should switch from YNAB to Monarch. Thinking I'll give it another year when my subscription ends and see what more people are saying. The only advantages I see Monarch having over YNAB is the ability to project your budget out and forecast into the future as well as being able to budget dollars without them being in your account yet. When I get paid in the middle of the month, YNAB makes it a little clunky. I'm not sure Monarch solves that issue but will need to try it out!
Hey Drew! I get the struggle in trying to find the best software. There's always pros and cons. You might as well give Monarch a shot! You can always watch videos, but I really believe you won't know if it works for you until you give it a shot yourself. Just so long as you don't get so hung up on the software that you don't budget at all. Let me know how it goes if you try out Monarch!
Woohoo let's hear it for maple syrup as a sponsor! Great vid btw. It's always helpful to get a solid review of a product and advice on how to properly use it. Thanks.
Heck yeah! Funny thing is this was before we started to make syrup on our farm and now it's an even better sponsor haha. And thank you, my pleasure to help out!
Great video! Not an affiliate so you know it's fair. Most video "reviews" has affiliate links so you know they are working with the company. Also, thank you for going through the app and walking us through!
Thanks for this review, Caleb. How does this account for carryover funds from prior month(s) that you didn't use up (from a zero-based budgeting perspective) and you intentionally didn't allocate?
I like some features like the goals aspect and that it tracks pretty consistently. The only thing i want is to be abel to budget what i have available right now, so I can dispatch my money accordingly
I think I understand what you're saying. So at least with EveryDollar, you can do your "paycheck planning" so while you have goals and whatnot, it basically lets you plan out how to spend the money you have right NOW
Hey!! So Mvelopes is ending!! Has been great for the past 20 or so years! The thought of moving my budget is daunting - appreciate your input and reviews. I am very interested in Monarch ... I have signed up for the 7 day trial which now has 3 days left. Really torn between YNAB and Monarch - also may use QUBE for real strict aspects where I go off the rails. I reveiw my account at a minimum of 1/week. Thoughts??
Hey Dawn! Sorry it took me a week to respond and so sorry Mvelopes is ending! Honestly my suggestion is try many app’s and just go with the one that’s least confusing for you. Because it’s daunting, yes, so the simplest app is the way to go. Monarch might be great after the initial setup which will take some work. But since it helps automate, it might be great longer term. Qube is definitely good for helping you control spending. Otherwise I personally love EveryDollar for the simplicity. And the integration with the new Gazelle card is cool and helpful. Let me know if you have any other questions!
I don't believe you would HAVE to, but Monarch is really intended for people who link to their bank accounts so they can take advantage of it's ability to automatically add your transactions to the right budgeted categories. If you like doing it manually, I would try EveryDollar! It's super easy to use and free when you do it manually.
Hello , When i start and link my bank do I need to manually put in info . I’m trying out different apps (newbie to budget apps) So far I started with EveryDollar the premium but I still have to add all the budget or transactions. With monarch will it do it automatically Thanks in advance .
Sorry for the slow response! When you link the bank, it's going to guess which categories each transaction fits into. However, you will have to manually change some of them. Personally I don't think setting up EveryDollar is that bad but maybe it's more labor intensive than you'd like!
I believe it does let you put in transactions manually but if you prefer to do it manually, I don't think Monarch is going to be the app for you. There are lots of other ones that will let you put in transactions manually without the monthly cost. Like check out EveryDollar maybe. That's what we use and we love it. Here's a video I made outlining a ton of budgeting apps. Hope it helps! ruclips.net/video/i8rxcO0TC5w/видео.html
Why in the world would Monarch make a goal for one account? How ridiculous of an idea is that for us to have 10 different accounts for 10 different goals?
It does seem a bit overkill, yes. However, I do see why some would like it. I personally have tons of "sinking funds" in our EveryDollar budget, operating kind of as separate budget accounts. But yeah, I see what you mean, Jay.
Great video, Caleb. Props on the choice of ambient music in the background - most RUclipsr filler music in between cuts is a massive pet peeve of mine, and you're doing it right. I just pulled the trigger on Monarch for a year, after YNAB finally broke me. So far, loving the UI and experience, but I've got a learning curve ahead of me. I would add that a downside is that there's really no online community thus far, since Monarch is pretty new. As a result, there's currently about 3 videos across all of RUclips, including yours.
Thanks so much, Robert. Yeah I’ve noticed that there aren’t very many videos out there for Monarch so I’m glad I can provide some value there. It definitely takes a bit of learning to use. As you get into it more, let me know what you think about it!
Having to move from Mint. This was very helpful. Thanks!
Absolutely!
still torn whether I should switch from YNAB to Monarch. Thinking I'll give it another year when my subscription ends and see what more people are saying. The only advantages I see Monarch having over YNAB is the ability to project your budget out and forecast into the future as well as being able to budget dollars without them being in your account yet. When I get paid in the middle of the month, YNAB makes it a little clunky. I'm not sure Monarch solves that issue but will need to try it out!
Hey Drew! I get the struggle in trying to find the best software. There's always pros and cons. You might as well give Monarch a shot! You can always watch videos, but I really believe you won't know if it works for you until you give it a shot yourself. Just so long as you don't get so hung up on the software that you don't budget at all. Let me know how it goes if you try out Monarch!
Woohoo let's hear it for maple syrup as a sponsor! Great vid btw. It's always helpful to get a solid review of a product and advice on how to properly use it. Thanks.
Heck yeah! Funny thing is this was before we started to make syrup on our farm and now it's an even better sponsor haha. And thank you, my pleasure to help out!
Great video! Not an affiliate so you know it's fair. Most video "reviews" has affiliate links so you know they are working with the company. Also, thank you for going through the app and walking us through!
Happy to help!
This app looks super helpful! Thanks for walking us through it. I’m partial to Thin Mints.
Thanks, Bessie! Alright, another one for Team Thin Mints!
Team Samoas! Great video, thank you.
Absolutely! Happy to help!
Thanks for this review, Caleb. How does this account for carryover funds from prior month(s) that you didn't use up (from a zero-based budgeting perspective) and you intentionally didn't allocate?
That changed my life. Having used Mint, then YNAB, Monarch is the king. Moreover, it has an AI component where you can ask questions directly.
Glad to hear it's worked well for you!
Damn, teaching financial, what must be taught in school, so great full
Totally agree, Angle. Financial literacy should for sure be taught in school.
You shoud have more subscribers
Thanks, Juan! It's been a slow burn for the channel but it's growing a bit. I appreciate the vote of confidence!
@@CalebBaleFinance no problem i get it i am also a creator
confetti! love it
Yes sir! Hey I appreciate you watching per usual, Nate!
Thank you for this review
Absolutely, glad it was helpful!
I like some features like the goals aspect and that it tracks pretty consistently. The only thing i want is to be abel to budget what i have available right now, so I can dispatch my money accordingly
I think I understand what you're saying. So at least with EveryDollar, you can do your "paycheck planning" so while you have goals and whatnot, it basically lets you plan out how to spend the money you have right NOW
This looks like a good app. Of course since it is a paid app, they want the experience to be worthwhile.
Agreed! And honestly, I don't have a problem with their reasoning for charging.
Super helpful! How do you add a family member to the monarch account? Thanks!
Great question! If you go to settings and scroll down to "Members" under the "Household" title, you can add family members there!
Great video!
Thanks so much!
Hey!! So Mvelopes is ending!! Has been great for the past 20 or so years! The thought of moving my budget is daunting - appreciate your input and reviews. I am very interested in Monarch ... I have signed up for the 7 day trial which now has 3 days left. Really torn between YNAB and Monarch - also may use QUBE for real strict aspects where I go off the rails. I reveiw my account at a minimum of 1/week. Thoughts??
Hey Dawn! Sorry it took me a week to respond and so sorry Mvelopes is ending! Honestly my suggestion is try many app’s and just go with the one that’s least confusing for you. Because it’s daunting, yes, so the simplest app is the way to go. Monarch might be great after the initial setup which will take some work. But since it helps automate, it might be great longer term. Qube is definitely good for helping you control spending. Otherwise I personally love EveryDollar for the simplicity. And the integration with the new Gazelle card is cool and helpful. Let me know if you have any other questions!
Do you have to link your bank accounts? I prefer the manual way
I don't believe you would HAVE to, but Monarch is really intended for people who link to their bank accounts so they can take advantage of it's ability to automatically add your transactions to the right budgeted categories. If you like doing it manually, I would try EveryDollar! It's super easy to use and free when you do it manually.
thin mint
Amen to that. I freaking love thin mints
Hello ,
When i start and link my bank do I need to manually put in info .
I’m trying out different apps (newbie to budget apps)
So far I started with EveryDollar the premium but I still have to add all the budget or transactions.
With monarch will it do it automatically
Thanks in advance .
Sorry for the slow response! When you link the bank, it's going to guess which categories each transaction fits into. However, you will have to manually change some of them. Personally I don't think setting up EveryDollar is that bad but maybe it's more labor intensive than you'd like!
Can Monarch Money be used without connecting to bank accounts?
Yes
There you go!
i find the linking of accounts sometimes can be clunky
I agree. And the amount that it updates etc.
Review CoPilot. I’ve been using it for over a year now and it seems very similar to Monarch. Monarch looks real nice
Great suggestion, thanks for throwing that in here. I’ve heard of it but I haven’t tried it yet. Thanks Cameron!
Will it let you do manual add or do I actually have to connect my bank accounts to this? I dont use the auto sync on ynab and prefer manual input.
I believe it does let you put in transactions manually but if you prefer to do it manually, I don't think Monarch is going to be the app for you. There are lots of other ones that will let you put in transactions manually without the monthly cost. Like check out EveryDollar maybe. That's what we use and we love it. Here's a video I made outlining a ton of budgeting apps. Hope it helps! ruclips.net/video/i8rxcO0TC5w/видео.html
Nice tutorial except for the very distracting background music
I've heard that a few times. I'll keep that in mind for upcoming tutorials. Thanks!
so many apps incredible people don't use them.
That's why I'm enjoying some of these reviews. Especially now, there are so many good finances apps that people aren't aware of.
Not enough to work for ne,
Fair enough
Sorry Caleb, but Bailey has great taste. Samoas are far better than Thin Mints. And how is there not a Chocolate Milk Museum? That is a travesty!
What! I suppose you have the right to choose your cookie and your football teams even if I disagree. I know right? What a travesty.
Great now the app is $14.99
The actual app or the service per month?
Why in the world would Monarch make a goal for one account? How ridiculous of an idea is that for us to have 10 different accounts for 10 different goals?
It does seem a bit overkill, yes. However, I do see why some would like it. I personally have tons of "sinking funds" in our EveryDollar budget, operating kind of as separate budget accounts. But yeah, I see what you mean, Jay.
Its perfect 👌
Glad you like it!