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Monarch Money vs. PocketGuard: Which App Wins for Your Wallet?

Monarch Money vs. PocketGuard: Which App Wins for Your Wallet?

July 23, 2020



All about personal finance

Monarch Money vs. PocketGuard
Monarch Money vs. PocketGuard

Many people struggle to save their hard-earned money, and they often need help with planning and budgeting. This is usually because they feel like their money disappeared quickly before they realize it. This is a significant problem that many people face, but there are also some solutions for it. For example, many personal finance apps on the market can help users manage their finances more effectively. Some apps like Monarch Money and PocketGuard help people take control of their money and improve their financial habits.

However, choosing the right app can be a challenging task. Many people feel overwhelmed by the different options and struggle to find the right app for themselves. Today, we have brought you a comparison between Monarch Money vs Pocketguard by covering their pros, cons, and all the possible aspects. This guide will help you select one of these leading finance apps according to your requirements. Here we mention all the possible aspects of these finance apps that you should read carefully and make the best decision for yourself.


Feature Table:

Monarch Money


Financial Goal Setting

Spending Insights

Financial Reports

Net worth, monthly expense, income vs. expenses

Bill Payment

Bill Management

Track due dates, reminders

Investment Tracking

Portfolio performance, asset allocation (PocketGuard may be more limited)

Retirement Planning

Tax Reporting

Debt Snowball Method

Strategy for prioritizing debt repayment based on lowest balances

Credit Score Monitoring

Transaction Categorization

Automatic or manual categorization of transactions

Cash Flow Projections


PocketGuard may have limited cash flow forecasting

If you want a more in-depth analysis of each tool, you can read our pocketguard vs monarch detailed comparison.

Other Budgeting Apps to Check Out:

Overview of Monarch Money:

Monarch Money Review
Monarch Money Review

Monarch Money is a top-rated comprehensive finance app that makes your financial management much easier and more interesting. This finance app is more popular with tech-savvy individuals. Also, It records your upcoming income and expenses so that you can create the best budget for yourself. It also tracks the investments you have made, which helps your budget to stay under your control.

Monarch Money Pros and Cons:


  • Monarch Money divides your expenses into different categories so that you can find the best spending pattern and adjust your spending accordingly to avoid budget disruptions.

  • This app not only helps you maintain your budget but also offers you many extra features like investors (as opposed to traditional banking customers). It also has a unique feature, "track your investments," which sets it apart from the rest. This is a feature not found in most other apps.

  • If you're someone who uses the envelope budgeting system improve your budgeting. So, you can further benefit from this app as it provides you with a built-in envelope budgeting system that you can use to enhance your finances further.


  • You should also keep in mind that Monarch Money offers you a lot of advanced features and is one of the best ones available. Still, it is slightly more expensive than other similar budgeting apps in the same category.

  • Those people who want a zero-based budgeting system should keep in mind that this feature is not available in Monarch Money. Therefore, if you are looking to create zero-based budgets, you should consider using a different budgeting app such as PocketGuard which offers this functionality.

Our Verdict's on Monarch Money:

Among the best finance apps available, the Monarch Money finance app is considered a general application for personal finance. However, due to its easy navigation, some people also use it for their businesses. The rest of the users who are looking for a well-designed and functional personal finance app should consider it. It offers some unique features, such as envelope budgeting and investment tracking, that other apps in this category cannot match. This is especially helpful for those who want to manage money on their mobile devices with their preferences, as it is a high-quality mobile app.

Overview of PocketGuard:

PocketGuard Review
PocketGuard Review

PocketGuard is known for its simplicity and affordability. It offers a user-friendly interface that's easy to navigate that is very easy to use and navigate, whether you are an ordinary person or even a student. This app helps you manage your expenses and budgeting well and run them according to your needs.

PocketGuard Pros and Cons:


  • If you are a person who wants to calculate their expenses easily and set a budget for yourself without any effort, then you should consider the Pocketguard finance app as it is one of the best apps that can help you improve your budgeting.

  • Pocketguard is also significantly more affordable than similar apps like Monarch Money.

  • The Pocketguard also offers a zero-based finance budgeting feature, which is a need for many people. This feature is also available in some other apps like You Need a Budget (YNAB)."


  • When we compare PocketGuard to other finance apps, it lacks an investment tracking feature, which many users find to be a major drawback.

  • Some people appreciate its straightforwardness, but others find that it lacks many customization features compared to Monarch Money and many other finance apps. Ultimately, it comes down to personal preference and what kind of functionality you're looking for.

Our Verdict's on PocketGuard:

If you are a person looking for a simple and easy-to-use finance app to manage finances, then PocketGuard is for you. It is nicely priced and has zero-based budgeting features, which makes it a great choice for beginners and newcomers who are just starting with their finances. 

Some people might say that this app is very different from other finance apps, and they would be right. It does not have a lot of customization features, but that is up to the user to decide if that is important to them. Many people like Pocketguard for its straightforwardness and ease of use. Overall, it is a great finance app that can help you manage your budget effectively with less effort and price.

Detailed Comparison: Monarch Money vs. PocketGuard


Monarch Money

Comprehensive financial overview in one place.

Automatic expense tracking and categorization.

Budgeting tools with spending alerts.

Bill tracking and due date reminders.

Investment tracking and net worth calculation.

"In My Pocket" feature for daily spending guidance.

Debt payoff planning.

Find savings opportunities (e.g., lower insurance rates).


Monarch Money

Premium features require subscription

Limited investment tracking compared to dedicated tools.

May not be suitable for complex financial situations.

Less focus on long-term financial planning

Some users report syncing issues with certain banks

Some premium features may not be worth the cost for all users

Ease of Use:

  • Users find Monarch Money a great finance app because it has an easy-to-understand interface and offers a lot of unique features that other finance apps lack. This app also has a great envelope budgeting and investment tracking feature that allows users to overlook all their finances and their budgets without any additional effort.

  • On the other hand, PocketGuard comes with an excellent simplicity that specifically targets people who do not want complex financial apps. This is ideal for those seeking a hassle-free way to manage their finances.

Budgeting and Tracking Expenses:

  • Monarch Money offers you an envelope budgeting system, a strategy that has proven useful for many people who save a specific portion of their money. It features multiple expense categories with different defined allocations and is also known for its automatic classification of outgoing expenses.

  • While PocketGuard doesn't support envelope budgeting systems, it excels with its zero-based budgeting method. This method allows you to display your amount left for spending, once-billed goals and savings, and accounted-for expenses. It also simplifies follow-up costs for you so you can manage your finances with ease.

Investment Tracking and Bill Management:

Monarch Money stands out from the other ones because it provides you with an easy way to track your investments, while other finance apps do not offer this feature. However, both excel in managing bills and prove to be very useful. Additionally, both apps make it easy to view your finances and monitor pending payments to stay on top of your spending.

Customization Options:

This Monarch Money provides you with great customization features, including the option to create your own categories, budgets, and everything else according to your own design. However, PocketGuard takes a standard approach and is particularly known for its simplicity. Both over-customization and simplicity have their own place. Those who want customization in their finance app should go for this Monarch money, while those who want a simple and easy-to-use interface should go for the Pocketguard.

Pricing and Customer Service:

Both of these apps have a price, but the Monarch Money is a bit more expensive because it has a lot more features and also provides you with the best customization options that the rest of the budget apps in this category don't give you at all. While the Pocketguard has a much lower price, it offers you much fewer features and has a very simple and easy-to-understand interface. People who want a completely simple, no-extra-benefit budgeting solution for themselves should consider Pocketguard, and people who want everything their way and who are interested in tech and customization should go for Monarch Money.

Both of these apps ensure that their users receive helpful responses to any query or issue they may encounter. This is the reason why both of these apps provide excellent customer service, and there are no complaints about either of them,

User Reviews and Reputation:

People say Monarch Money is great because it is packed with all its finance management features, and it also offers many more features than its other competitors. Users especially like its investment tracking feature, which is something many people need and that it delivers. Also, it seems clearly beneficial as a recent user survey revealed that 92% of its users said they felt more financially stable three months after starting to use Monarch Money. However, some people who prefer zero-based budgeting don't like it as much. Overall, it is very much liked by those users who want a highly customizable feature-rich app for themselves.

While PocketGuard is popular here due to its easy-to-use and user-friendly interface, it is the best choice for those who want simplicity within their budgeting app as it provides them with the best, simplest, and easiest-to-understand features. People save real money by using this simplicity. For example, during their first month with PocketGuard, the average savings were $400 per user despite the fact that even basic budgeting methods sometimes have significant effects. However, those who need investment tracking and envelop budgeting features might switch to Monarch money. 

New Research Shows Significant Savings for Finance App Users:

According to a recent study by Research Firm, nearly 15% of people who use finance apps save about three months of their monthly expenses with consistent use for three months. This is a great aspect of those finance apps because now you know where your money is spent.

Final Verdict: Monarch Money vs. PocketGuard

These finance apps have a lot to offer, especially for those who want an all-in-one solution that provides features like envelope budgeting and the ability to track investments. The Monarch money is a great option for you, but it is also a bit more expensive than PocketGuard. However, it does a good job of justifying its price with its features. The PocketGuard is a great, cost-effective option that is also simple to use, making it a great choice for beginners and students. It doesn't have features like envelope budgeting and investment tracking, but it does offer all of the essential budgeting features like zero-based finance budgeting. 

Ultimately, the best app for you will depend on your individual needs and requirements. If you are using budgeting software for your business, household, and savings goals, you will need a tool that you are comfortable with and that can meet your specific needs. Consider your requirements carefully and choose the app that is the best fit for you.

Have you ever tried Monarch Money or PocketGuard? Share your experiences and tips in the comments below!

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©2024 by The Saving Dude

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