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Personal Finance · head to head

Monarch Money vs Splitwise

Monarch Money logo

Monarch Money

Personal Finance

All-in-one wealth management platform

From
$99/year
Rated
-
Full reviewWebsite
Splitwise logo

Splitwise

Personal Finance

Split expenses easily with friends

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Splitwise has a free tier, so it costs nothing to try first.
  • 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; Splitwise the free tier limits how many expenses can be added in a day and shows adverts
  • They diverge on capability: Monarch Money covers Budget management, Splitwise covers Bill splitting.
  • Prices and features above were last checked on 30 August 2026.

Where they differ

Only the attributes on which Monarch Money and Splitwise actually diverge.

Attributes where Monarch Money and Splitwise differ
AttributeMonarch MoneySplitwise
Starting price$99/yearFree
Pricing modelsubscriptionfreemium
Free tierNoYes
Founded20222011

Identical on both: platforms (Web, IOS, Android), 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 Monarch Money

  • Budget management
  • Investment tracking
  • Tax planning
  • Financial insights
  • Bank accounts
  • Investment accounts
  • Cryptocurrency

Only in Splitwise

  • Bill splitting
  • Expense tracking
  • Group management
  • Settlement tracking
  • Venmo
  • PayPal

Both cover

  • 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 Splitwise
  • Shared budgeting between partners in one accountnot Splitwise
  • Monitoring net worth and investment balances alongside cash accountsnot Splitwise

Splitwise

  • Splitting shared household bills between flatmatesnot Monarch Money
  • Tracking who owes what on a group tripnot Monarch Money
  • Settling up across currencies on the Pro plannot Monarch Money
  • Recording IOUs between friends over timenot 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

Splitwise

  • The free tier limits how many expenses can be added in a day and shows adverts
  • Transaction import works in the United States only
  • Currency conversion, receipt scanning, charts and expense search are all Pro features
  • The Pro price is not shown on the product page

Pricing, plan by plan

Monarch Money

$99/year
  • Core Plan$99/year
    • 7-day free trial
  • Plus$null/year
    • Premium features

Splitwise

Free
  • FreeFree
    • Bill splitting
    • Group tracking
    • Mobile app
  • Splitwise Pro$4.99/month
    • Receipt scanning
    • Advanced analytics
    • No ads

Which should you pick?

Choose Monarch Money if

  • You need budget management.
  • You work on Web, IOS, Android.
  • You also want investment tracking.
Monarch Money review

Choose Splitwise if

  • You need bill splitting.
  • You want to start without paying.
  • You work on Web, IOS, Android.
  • You also want expense tracking.
Splitwise review

Questions people ask

Is Monarch Money or Splitwise better?
Neither clearly leads. Monarch Money starts at $99/year and Splitwise at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Monarch Money or Splitwise?
Splitwise has a free tier; the other does not. Paid plans start at $99/year for Monarch Money and Free for Splitwise.
Does Monarch Money or Splitwise run on more platforms?
Both run on Web, IOS, Android, so platform support will not decide this one for you.
Can I use Splitwise for free?
Yes. Splitwise has a free tier, so you can try it without paying. Monarch Money starts at $99/year.
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 Splitwise is typically brought in for.
What can Monarch Money do that Splitwise cannot?
Monarch Money covers Budget management, Investment tracking, Tax planning, Financial insights. Splitwise covers Bill splitting, Expense tracking, Group management, Settlement tracking. Both handle Web support, IOS support, Android support.

Answered from the vendors’ own pages

Monarch Money: How much does Monarch Money cost?

Monarch Money Core plan costs 99 USD/year, referenced in customer testimonials and promo code terms. Additional Plus tier exists but specific pricing is not disclosed on the main page.

Source
Splitwise: Is there a free version of Splitwise?

Yes, Splitwise offers a free version available for iPhone, Android, and web with core features including adding groups and friends, splitting expenses, recording debts, equal or unequal splits, offline mode, and cloud sync.

Source
Monarch Money: Is there a free trial?

Yes, Monarch Money offers a 7-day free trial for new users with no credit card required.

Source
Splitwise: What is Splitwise PRO and how much does it cost?

Splitwise PRO is an upgrade offering receipt scanning, charts and graphs, currency conversion, and additional features. The specific price is not published on the main website; users must visit the subscription page or access the app to view pricing details.

Source
Monarch Money: Are there discounts available?

Monarch Money offers 30% off the first year with promo code WELCOME for new members on annual Core plan subscriptions. Cannot be combined with other offers.

Source
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