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Personal Finance · head to head

Actual Budget vs Monzo

Actual Budget logo

Actual Budget

Personal Finance

Free, open source, local-first envelope budgeting with optional self-hosted sync

From
Free
Rated
-
Full reviewWebsite
Monzo logo

Monzo

Personal Finance

UK-licensed digital bank with FSCS-protected deposits and no foreign currency card fees

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Actual Budget self-hosting the sync server requires basic comfort with running and updating a small application, which is a real barrier for non-technical users.; Monzo monzo is UK-focused, so customers wanting deep multi-currency holding, broad international transfers or in-app investing will find its feature set narrower than Revolut.
  • They diverge on capability: Actual Budget covers Envelope budgeting, Monzo covers FSCS-protected deposits.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Actual Budget and Monzo actually diverge.

Attributes where Actual Budget and Monzo differ
AttributeActual BudgetMonzo
Pricing modelOpen source, no licence fee; optional paid hosted sync and subscription tierFree core current account; paid Plus and Premium tiers add features
PlatformsWeb, macOS, Windows, Linux, iOS, AndroidiOS, Android, Web

Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated), category (Personal Finance).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Actual Budget

  • Envelope budgeting
  • Local-first data
  • Self-hosted sync
  • Bank sync via SimpleFIN or GoCardless
  • Rules engine
  • Reports

Only in Monzo

  • FSCS-protected deposits
  • Fee-free foreign spending
  • Savings Pots
  • Joint and shared accounts
  • Instant spending notifications
  • Overdrafts and loans

What people use each for

The jobs each tool is most often brought in to do.

Actual Budget

  • A former YNAB user who wants the same envelope method without an ongoing subscriptionnot Monzo
  • Someone who wants their financial data to stay on hardware they control, using a home server for syncnot Monzo
  • A technically comfortable household running a small self-hosted stack who wants budgeting alongside itnot Monzo
  • A user who is fine paying a small hosted fee for sync convenience without wanting a full YNAB-style subscriptionnot Monzo

Monzo

  • A UK resident wanting a free current account with statutory FSCS deposit protection rather than e-money safeguardingnot Actual Budget
  • A frequent traveller wanting free foreign currency card spending on a UK-regulated accountnot Actual Budget
  • A household wanting a joint account with shared budgeting and spending visibilitynot Actual Budget
  • Someone building savings using automated Pots with partner-bank interest rather than a separate savings accountnot Actual Budget

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Actual Budget

  • Self-hosting the sync server requires basic comfort with running and updating a small application, which is a real barrier for non-technical users.
  • Bank sync depends on SimpleFIN or GoCardless connectors rather than a broad built-in aggregator network, so coverage of smaller banks varies by region.
  • There is no dedicated customer support line, only community Discord and GitHub issues, which suits technical users but frustrates people expecting vendor support.
  • The mobile apps are less mature than the web and desktop experience, and some budgeting workflows are easier on desktop.
  • Because it is a smaller open source project, feature development depends on maintainer time and community contribution rather than a funded product roadmap.

Monzo

  • Monzo is UK-focused, so customers wanting deep multi-currency holding, broad international transfers or in-app investing will find its feature set narrower than Revolut.
  • Overdraft and loan products carry interest charges based on individually assessed rates, and like any consumer credit product the cost varies by risk profile rather than being a flat, predictable fee.
  • Free ATM withdrawals abroad are capped at a monthly limit on the free tier, after which a fee applies, so heavy cash users abroad may find the free tier insufficient.
  • As an app-first bank with very limited physical presence, customers who prefer in-person branch banking or need to deposit cash regularly will find it inconvenient compared with a traditional high street bank.
  • Some paid-tier perks, such as travel insurance bundled into Premium, require reading policy terms carefully, since bundled insurance products can have narrower cover than a standalone policy bought separately.

Pricing, plan by plan

Actual Budget

Free
  • Actual BudgetFree
    • Full budgeting features
    • Self-hosted sync server
    • Community support only
  • Actual Budget$7.99/month
    • Managed hosted sync
    • Mobile app access
    • No server to maintain

Monzo

Free
  • Monzo (free)Free
    • Free current account with FSCS-protected deposits
    • Fee-free foreign currency card spending
    • Free ATM withdrawals abroad up to a monthly limit
  • Monzo Plus$5/month
    • Higher fee-free overseas ATM withdrawal limit
    • Custom card colours and virtual cards
    • Savings and budgeting extras
  • Monzo Premium$15/month
    • Travel and phone insurance included
    • Metal card
    • Airport lounge access on some plans

Which should you pick?

Choose Actual Budget if

  • You need envelope budgeting.
  • You want to start without paying.
  • You work on Web, macOS, Windows, Linux, iOS, Android.
  • You also want local-first data.
Actual Budget review

Choose Monzo if

  • You need fscs-protected deposits.
  • You want to start without paying.
  • You work on iOS, Android, Web.
  • You also want fee-free foreign spending.
Monzo review

Questions people ask

Is Actual Budget or Monzo better?
Neither clearly leads. Actual Budget starts at Free and Monzo at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Actual Budget or Monzo?
Actual Budget starts at Free and Monzo at Free.
Does Actual Budget or Monzo run on more platforms?
Actual Budget runs on Web, macOS, Windows, Linux, iOS, Android. Monzo runs on iOS, Android, Web.
Can I use Actual Budget for free?
Both have a free tier, so you can try either at no cost before committing.
What is Actual Budget best used for?
Actual Budget is most often used for a former ynab user who wants the same envelope method without an ongoing subscription, someone who wants their financial data to stay on hardware they control, using a home server for sync, a technically comfortable household running a small self-hosted stack who wants budgeting alongside it, a user who is fine paying a small hosted fee for sync convenience without wanting a full ynab-style subscription. Of those, a former ynab user who wants the same envelope method without an ongoing subscription and someone who wants their financial data to stay on hardware they control, using a home server for sync are not what Monzo is typically brought in for.
What can Actual Budget do that Monzo cannot?
Actual Budget covers Envelope budgeting, Local-first data, Self-hosted sync, Bank sync via SimpleFIN or GoCardless. Monzo covers FSCS-protected deposits, Fee-free foreign spending, Savings Pots, Joint and shared accounts.

Answered from the vendors’ own pages

Actual Budget: Is Actual Budget really free?

The core app and self-hosted sync are free and open source; there is also an optional paid hosted sync subscription if you do not want to run a server.

Monzo: Is Monzo a real bank?

Yes, Monzo Bank Limited holds a full UK banking licence and is regulated by the FCA and PRA, the same framework as traditional UK banks.

Actual Budget: Do I need a server to use it?

Only if you want to sync a budget across multiple devices; a single-device budget works without any server at all.

Monzo: Are my savings protected if Monzo fails?

Eligible deposits are covered by the Financial Services Compensation Scheme up to 85,000 pounds per eligible person, the same statutory protection as other UK banks.

Actual Budget: Does it connect to my bank automatically?

Yes, through SimpleFIN or GoCardless connectors, though coverage is narrower than commercial aggregators used by YNAB or Lunch Money.

Monzo: Does Monzo charge for spending abroad?

No card fee applies for purchases abroad at the interbank exchange rate; free ATM withdrawals abroad are capped at a monthly limit before a fee applies.

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