🛠️ Practical Guide to Using Monarch Money (For Active Users)

Here's a practical, step-by-step user guide for someone who is already signed up for Monarch Money and wants to know how to use it on a day-to-day and weekly basis to manage their finances effectively.

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🛠️ Practical Guide to Using Monarch Money (For Active Users)

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✅ Daily or Weekly Workflow

1. Log In and Review Dashboard

• Go to Monarch Money or open the app.

• Scan the Overview tab:

  • Check current cash balances.
  • Glance at spending trends.
  • Look at progress toward any active goals.
  • Review upcoming bills or due dates.

🧭 Tip: You can customize this dashboard to show only what matters to you—drag & drop tiles.

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2. Reconcile Transactions (2–3x a week or weekly)

• Go to Transactions.

• Check for any new or uncategorized transactions.

• Actions to take:

  • Correct any miscategorized expenses.
  • Split transactions (e.g., Amazon = groceries + gifts).
  • Add notes or tags like “Business,” “Reimbursable,” or “Travel.”
  • Mark duplicate or erroneous transactions to ignore.

🔍 Why: Ensures your reports and budgets are accurate.

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3. Track Spending by Category

• Go to Plan > This Month.
• Review how much you've spent per category compared to your set budget.
• Adjust future budgets based on new patterns.
• See which categories are in the red (over-budget) or underutilized.

💡 Insight: Monarch updates budget progress automatically based on transaction flow.

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4. Check and Update Goals

• Go to Goals.
• See current progress toward each goal (retirement, emergency fund, vacation, etc.).
• Update savings contributions manually if needed (for cash or external accounts).
• Adjust timelines or contribution amounts as your income or expenses change.

🎯 Best Practice: Tie your savings habits to real goals to stay motivated.

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5. Review Net Worth (Optional – Monthly)

• Navigate to Net Worth tab.
• See asset vs. liability trends.
• Update any manual assets like home value, crypto wallets, or car depreciation.
• Double-check loan balances if they aren’t syncing correctly.

📊 Use Case: This is especially helpful if you're focused on debt payoff or wealth building.

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6. Use the Calendar View

• From the Plan tab, switch to the calendar mode.

• Track:

  • When bills are due.
  • When income hits.
  • When budget resets.

• This helps in cash flow planning, not just budgeting.

📅 Great for: People who get paid on specific dates and want to manage timing of expenses.

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🧍‍♀️ For Couples or Shared Users

• Go to Settings > Household and invite your partner if not already done.

• You can:

  • Assign responsibilities (one person handles bills, one tracks goals).
  • Leave notes on transactions.
  • Have regular money check-ins using Monarch’s data.

• Communicate within the platform using shared notes or tags.

💬 Pro Tip: Create a tag like “Needs Discussion” for flagged transactions.

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🔔 Turn on Notifications

• Go to Settings > Notifications and enable:

  • Overspending alerts.
  • Bill reminders.
  • New transactions.

• These help you stay proactive instead of reactive.

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📅 Monthly Review Routine

At the end of each month:

1. Go to Plan > Past Months to see how you did.

2. Adjust budgets for the upcoming month based on real data.

3. Review:

   • Savings rate
   • Debt reduction
   • Net worth growth

4. Duplicate your budget from the previous month, or set new targets.

🧠 Reflection Tip: Ask, "Where did I spend in alignment with my goals, and where did I drift?"

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🧰 Advanced Features (When You're Ready)

Feature	Use It For	How
Custom Rules	Auto-categorize recurring transactions	Settings > Rules
Investment Tracking	View portfolio growth	Overview > Investments
CSV Export	Sharing with accountant/bookkeeper	Settings > Export
Manual Accounts	Add cash, crypto, or offline holdings	Net Worth > Add Account

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⚙️ Suggested Weekly Routine (10–20 Minutes)

Task	Frequency	Tab
Reconcile transactions	2–3x a week	Transactions
Review category budgets	Weekly	Plan
Track goal progress	Weekly	Goals
Adjust for upcoming bills	Weekly	Calendar
Add notes/tags	Ongoing	Transactions
Partner money check-in	Weekly/Biweekly	Overview/Goals

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