Software · head to head
Monarch Money vs Betterment
The short version
- Each has a real cost: Monarch Money the free trial is one week, after which a paid subscription is required to keep using the app; Betterment digital automated investing charges $5 per month fee for accounts under $24,000 balance
- They diverge on capability: Monarch Money covers Budget management, Betterment covers Automated investing.
Where they differ
Only the attributes on which Monarch Money and Betterment actually diverge.
| Attribute | Monarch Money | Betterment |
|---|---|---|
| Starting price | On request | $5/month |
| Founded | 2022 | 2008 |
Identical on both: pricing model (subscription), free tier (No), platforms (Web, IOS, Android), user rating (Not yet rated), category (Unknown).
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 Monarch Money
- Budget management
- Investment tracking
- Tax planning
- Financial insights
- Cryptocurrency
Only in Betterment
- Automated investing
- Retirement planning
- Financial advisory
- Goal tracking
Both cover
- Bank accounts
- Investment accounts
- Web support
- IOS support
- Android support
What people use each for
The jobs each tool is most often brought in to do.
Monarch Money
- Tracking household budgets and spending across linked bank accountsnot Betterment
- Shared budgeting between partners in one accountnot Betterment
- Monitoring net worth and investment balances alongside cash accountsnot Betterment
Betterment
- Small investors starting with automated investing at no minimum balancenot Monarch Money
- Fee-only digital wealth management for accounts under $24,000 via $5/month flat feenot Monarch Money
- Premium advisory access for high-net-worth individuals with $100,000+ balancenot Monarch Money
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Monarch Money
- The free trial is one week, after which a paid subscription is required to keep using the app
- The advertised 30 percent discount with code WELCOME applies to the first year only and is restricted to new users
- There is no free tier, and a Plus tier gates features above the base subscription
Betterment
- Digital automated investing charges $5 per month fee for accounts under $24,000 balance
- Premium advisory service requires minimum balance of $100,000 in eligible investments
- Foreign transaction fees apply to checking account (though reimbursed after the fact)
- High-balance fee discounts only available above $1,000,000 account balance
Pricing, plan by plan
Monarch Money
On request- Premium$14.99/month
- Unlimited accounts
- Investment tracking
- Tax planning
- Premier$39.99/month
- All Premium features
- Financial advisor access
Betterment
$5/monthNo published plan breakdown. See the Betterment review.
Which should you pick?
Choose Monarch Money if
- You need budget management.
- You work on Web, IOS, Android.
- You also want investment tracking.
Choose Betterment if
- You need automated investing.
- You work on Web, iOS, Android.
- You also want retirement planning.
Questions people ask
- Is Monarch Money or Betterment better?
- Neither clearly leads. Monarch Money starts at On request and Betterment at $5/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Monarch Money or Betterment?
- Monarch Money starts at On request and Betterment at $5/month.
- Does Monarch Money or Betterment run on more platforms?
- Monarch Money runs on Web, IOS, Android. Betterment runs on Web, iOS, Android.
- What is Monarch Money best used for?
- Monarch Money is most often used for tracking household budgets and spending across linked bank accounts, shared budgeting between partners in one account, monitoring net worth and investment balances alongside cash accounts. Of those, tracking household budgets and spending across linked bank accounts and shared budgeting between partners in one account are not what Betterment is typically brought in for.
- What can Monarch Money do that Betterment cannot?
- Monarch Money covers Budget management, Investment tracking, Tax planning, Financial insights. Betterment covers Automated investing, Retirement planning, Financial advisory, Goal tracking. Both handle Bank accounts, Investment accounts, Web support, IOS support.