Monarch Money vs Clarity
| Feature | Monarch | Clarity |
|---|---|---|
| Pricing | $99.99/year or $14.99/mo | $99/year or $12/mo |
| Free Trial | 7 days | 14 days |
| Bank Connections | 10,000+ via Plaid | 10,000+ via Plaid |
| Investment Tracking | ||
| Crypto Exchange Connections | ||
| Blockchain Wallet Tracking | ||
| Unified Net Worth (TradFi + Crypto) | ||
| Automatic Categorization | Yes | Yes (AI-powered) |
| Budget Tracking | ||
| Recurring Detection | Automatic detection | |
| Real-Time Crypto Prices | ||
| Cost Basis Tracking (FIFO) | FIFO method included | |
| Credit Score Monitoring | ||
| Collaborative (Couples/Families) |
Why Monarch is Popular
Monarch Money has become one of the most popular Mint replacements. It's a well-rounded finance tracker with some standout features:
- Collaborative Finances: Share budgets and accounts with a partner or family member — great for couples
- Credit Score Monitoring: See your credit score alongside your financial data
- AI Assistant: Ask questions about your spending in natural language
- Clean Design: Modern UI with good mobile apps on iOS and Android
For traditional finance tracking, Monarch is excellent. But crypto holders need more.
Where Clarity Wins
1. Crypto Exchanges + Blockchain Wallets
Monarch tracks traditional investments via Plaid, but can't connect to Coinbase, Kraken, Binance, or any crypto exchange. Blockchain wallets like MetaMask and Phantom? Not supported either.
Clarity's approach: Connect exchanges via API keys and wallets via public addresses. See your crypto holdings alongside your bank accounts. One net worth number that includes everything.
2. Real-Time Crypto Prices
Even if you manually add crypto values to Monarch, they don't update automatically. Your net worth is stale the moment crypto markets move.
Clarity's approach: Real-time price feeds for all major cryptocurrencies. Your net worth reflects actual market values, not yesterday's numbers.
3. FIFO Cost Basis + Wash Sale Detection
Come tax season, crypto holders need to report capital gains. Monarch can't help here — no cost basis tracking for crypto, no wash sale detection.
Clarity's approach: Automatic FIFO cost basis calculation across all your crypto trades. Wash sale detection flags potential issues before you file.
4. Better Pricing
Monarch costs $99.99/year or $14.99/month. Clarity is $99/year or $12/month. Same core budgeting features, plus crypto support, for less money.
Where Monarch Wins
We're honest about where Monarch has advantages:
- Collaborative Features: Monarch lets couples and families share budgets and accounts. Clarity is single-user only.
- Credit Score: Monarch shows your credit score in the app. Clarity doesn't offer credit monitoring.
- Android App: Monarch has a native Android app. Clarity is web + iOS only.
If you don't hold crypto and need collaborative budgeting, Monarch is the better choice.
When to Use Monarch vs Clarity
Choose Clarity if...
- You hold crypto alongside traditional investments
- You trade on crypto exchanges
- You use blockchain wallets
- You need crypto cost basis for taxes
- You want real-time crypto prices in net worth
- You want a longer free trial (14 days vs 7)
Stick with Monarch if...
- You budget with a partner or family
- You need credit score monitoring
- You need an Android app
- You don't hold any crypto
- You want collaborative financial planning
Switching from Monarch to Clarity
If Monarch isn't tracking your full financial picture, switching takes 10 minutes:
- Sign up for Clarity's 14-day trial (no credit card required)
- Connect your banks via Plaid (same provider Monarch uses)
- Add crypto exchanges (Coinbase, Kraken, Binance via API keys)
- Add blockchain wallets (paste your public address)
- Set category budgets (Clarity auto-suggests based on spending)
- Check your real net worth — TradFi + crypto combined
Both apps use Plaid, so your bank connections will sync the same data. You can run both side-by-side during the trial.
Frequently Asked Questions
Can Monarch track crypto?
No. Monarch Money does not support crypto exchange connections or blockchain wallet tracking. You can manually enter crypto values, but they won't update automatically. Clarity connects directly to exchanges and wallets with real-time pricing.
Is Clarity cheaper than Monarch?
Yes. Clarity is $99/year vs Monarch's $99.99/year. Monthly pricing is $12/mo vs $14.99/mo. Clarity also offers a longer 14-day free trial compared to Monarch's 7-day trial.
Does Clarity support shared/family budgeting?
Not yet. Monarch's collaborative features for couples and families are a real advantage. If shared budgeting is essential, Monarch is the better choice. If crypto support is essential, choose Clarity.
Can I use both Monarch and Clarity?
Yes. Some users keep Monarch for collaborative budgeting with their partner and use Clarity for crypto tracking and unified net worth. Both use Plaid for bank connections.
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