Monarch Money is one of the best budgeting apps out there — clean design, strong automation, and customizable goals. But getting it set up just right? That can be frustrating. 😩
As a former product manager at Personal Capital and now a full-time financial coach, I’ve helped hundreds of people personalize their money apps to match real-life goals. Monarch is powerful, but like any tool, it’s only as good as how you set it up.
Let’s walk through 5 common complaints people have when setting up Monarch, and how to fix them, so you can finally feel in control of your money. 💪
1. 😖 “My accounts won’t sync (or they randomly disconnect)”
The fix:
This is one of the most common headaches with any personal finance app. Monarch relies on one of three third-party aggregators (Plaid, Finicity, and MX) to connect to your bank, which sometimes hits snags.
✅ Tips:
- Try reconnecting the bank manually in Monarch under Settings > Institutions.
- Log into your bank’s website first, then retry the sync in Monarch.
- Try another aggregator. If Plaid is not able to pull transactions, maybe MX will work better.
- If all else fails, use the Manual Account option so you can still track balances and activity until the connection is restored.
➡️ Coaching insight: You don’t need every account perfectly synced to get value from Monarch. Start with your primary checking, credit cards, and savings. That covers most spending and savings flows.
2. 🌀 “My transactions are miscategorized and it’s messing up my budget.”
The fix:
Monarch auto-categorizes based on merchant data, which can be wrong or too generic.
✅ Tips:
- Save rules as you edit your transaction categories. By doing this Monarch learns your preferences and gets SO MUCH better at your categorization.
- Split transactions: Big box stores like Target or Amazon? Split by category to reflect actual spending.
- Use the ‘Apply changes to existing transactions’ feature when creating a rule so all historical transactions that match are updated all at once
➡️ Coaching insight: Spend 10 minutes cleaning up your categories for last month. That gives Monarch a solid base to learn from, and you’ll get much better insights going forward.
3. 🗂️ “There are so many categories, it feels overwhelming.”
The fix:
Monarch comes with a lot of default categories, and it’s tempting to over-organize. But too many buckets can actually make budgeting harder.
✅ Tips:
- Keep it simple! Start with 6–8 high-level categories: Housing, Food, Transportation, Health, Entertainment, and Misc.
- Combine similar categories (e.g., “Dining Out” and “Coffee” → just “Restaurants”).
- Use subcategories only if they help you make better decisions, not just to be more detailed.
➡️ Coaching insight: Your categories should make your budget clearer, not more complicated. Start broad. You can always refine later as patterns emerge.
4. 🎯 “The goals feature is confusing and I’m not sure if it’s working.”
The fix:
Monarch has powerful goal tracking, but it’s easy to misconfigure.
✅ Tips:
- Use Target Amount goals for savings (like emergency fund or vacation).
- Link your savings goal to the actual account it lives in.
- Use rules to auto assign transactions to goals so you can see your progress!
➡️ Coaching insight: Goals only work if you see progress. When it’s set up right, Monarch makes it easy to stay motivated.
5. 🤷 “I set everything up… but I’m not actually using it.”
The fix:
This is the silent killer of most budgeting apps. They become passive dashboards instead of active tools.
✅ Tips:
- Set a Weekly Review reminder. Even just 10 minutes can make a huge difference.
- Customize your homepage to surface what matters most: spending, cash flow, goals, or net worth.
- Don’t aim for perfection, aim for progress. Tracking 80% is better than quitting at 0%.
➡️ Coaching insight: The goal isn’t to be a perfect budgeter. It’s to feel confident and in control. That starts by making Monarch part of your regular money routine, not just a one-time setup.
🙋 Need a Helping Hand? That’s What I Do.
Setting up a money app like Monarch is only part of the journey. The real magic happens when it’s customized to your life – your goals, your quirks, and your income patterns.
At Your Money Mark, I offer personalized Monarch setup sessions and financial coaching that focuses on your goals and not generic templates. I’ve worked behind the scenes on these tools, and now I coach real people like you on how to use them with confidence.
👉 Book a Monarch Setup Session
Let’s fix those frustrations and get your money working for you.
💬 Final Thought
Monarch Money has amazing potential, but it doesn’t come pre-built for your life. With the right setup, and a little guidance, you can finally feel like your money plan fits you.
You’ve got this. And I’m here if you want backup.
Your Money Mark 