Monarch Money vs Empower (2026)
Empower's dashboard is free and strongest for net worth, retirement and investments; its budgeting is one monthly figure. Monarch is paid and is the better budgeting app, with category or flex budgets for a whole household. Use Empower to watch investments, Monarch to run the budget.
By Wealthy Pot Editorial · Facts checked October 18, 2026
| Feature | Monarch Money | Empower |
|---|---|---|
| Price | No free tier; Core $14.99/mo · $99.99/yr; Plus $199/yr (US & Canada only) | Free dashboard; paid advisory from 0.89% a year ($100k min) |
| Cheapest paid plan, 1 year | $99.99 | $0 (free) |
| Cheapest paid plan, 3 years | $299.97 | $0 (free) |
| Platforms | iOS, Android, Web | iOS, Android, Web |
| Method | Flexible / aggregation | Aggregation / net worth |
| Bank sync | Yes (Plaid, Finicity, MX) | Yes (Yodlee) |
| App Store | 4.9★ (95k) | - |
| Google Play | 4.7★ (22k) | - |
| Best for | Couples/households wanting budgeting + net worth + investments in one dashboard | Investors wanting a free net-worth + portfolio dashboard |
Cost rows are our arithmetic from each app's listed prices (annual plan where one exists), before tax, assuming today's prices hold.
Key differences
Empower's budgeting tool compares one monthly budget figure with your last 30 days of spending, with no per-category goals. Monarch budgets by category or with flex budgeting, tracks recurring bills and shares with unlimited household members.
Empower is free; the company sells optional investment management for 0.89% a year on $100,000 to $999,999 managed, with a $100,000 minimum. Monarch has no free plan: $99.99 a year or $14.99 a month after a 7-day trial, with no ads.
Both connect investment accounts. Empower links through Yodlee and adds a retirement planner and portfolio analysis; Monarch uses Plaid, Finicity and MX and, on Plus, adds tax-lot gains and fund analysis.
Where Monarch Money wins
- Budgets, net worth and investments in one place
- Unlimited household members at no extra cost, with separate roles
- Three bank-data providers, switchable per bank when a connection breaks
- No ads, and a SOC 2 Type 2 statement from Monarch
Where Empower wins
- Completely free dashboard
- Net worth, investments and retirement planning in one place
- Portfolio analysis across all linked accounts
- CSV export of transactions on the web
Which should you choose?
Pick Monarch Money if
- You are a couple or family and want everyone on one plan: there is no per-member charge.
- You want spending, budgets, net worth and investments in one dashboard without manual entry.
- You left Mint and want a closer, more complete replacement.
Pick Empower if
- You invest and want every account, including retirement accounts, in one free net-worth view.
- You want a retirement projection built from your real balances.
- You want spending trends without keeping a detailed budget.
Monarch Money vs Empower: FAQ
Is Empower really free?
The dashboard is. Empower charges only if you sign up for its investment management service, from 0.89% a year with a $100,000 minimum.
Can Empower replace a budgeting app?
For most people, no. Its budget is a single monthly figure without category targets.
Compare these against every option in our budgeting apps comparison, and set your category targets with the free budget calculator.
Ratings are summarized from public App Store / Google Play listings (as of June 2026); we don't reprint user reviews. Prices and features come from our full reviews, each checked against the company's own pages on October 18, 2026 and listing every source; we re-check about once a month. We do not earn commissions from these apps.