The Cheapness

So you want to get started tackling your fear and trepidation about your finances? Step numero uno: make the mess make sense.

For my part, I had accounts at JP Morgan Chase, Ally, Vanguard, an old retirement account for an employer I left three years ago, a house with a mortgage, and a mason jar with about $30 of loose change. How on earth could I ever get a handle on my finances, when I literally couldn’t even see it all in one place?

Luckily, early in my exposure to the FIRE community, my new friend and mentor, Carolyn, suggested I try Monarch Money. I found a 30-day trial promo code, like the one linked above, and in the course of one sitting, I linked all my savings, checking, investment, real estate, and credit card accounts – which gave me – for the first time ever (!) a truly global view of my finances.

This was life-changing for me, and it just might make a difference for you, too.

I have also put an honest effort towards using free versions of similar budgeting apps such as mint and savology.com. As is well known, mint has joined the Magnificent Book of Extinct Animals, and savology is still kicking and worth a try if you are seeking a free, manual-entry budgeting experience, rather than the linked smoothness of Monarch Money.

What’s so great about Monarch Money?

1. Knowledge is power, babe. Having one simple login allows you to feel complete mastery over where every dollar is going, every day.
2. Monarch emails you helpful updates, such as when a budget category is exceeded, which gives you a chance to make immediate changes to your spending.
3. Catch fishy stuff and fix it. The app requests you to “approve” expenditures on a regular basis, so you can catch possible fraudulent activity, or overcharges quickly and take action.
4. Watch that sexy net worth chart grow over time. Monarch has an incredible total net worth chart front and center, which gives you a stunning visual of your progress.

5. Goal Setter, Go Getter. When you are setting up your finances with Monarch, the app will ask you what your main goals are. These can be paying down debt, increasing your emergency savings, saving for a down payment for a house, Retirement, or others. This allows you to personalize your experience and compare your progress to your original goal – and modify that goal as you grow!

Now if you’re anything like me, having all this knowledge available so readily can become a bit of an obsession. I have a tendency to get reeeeeeaaaally into learning new things, and focus on the task like a laser-beam monocled hawk.

So try Monarch Money for free. And if you love it, and feel more powerful than an avian superhero wearing a death ray, then stick around and let’s battle it out to the FI finish line together.

And if you have another platform you suggest instead, share it in the comments below! I’ll try anything once.