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A Monarch Money alternative for couples on a budget
Monarch is a capable all-in-one finance app. Allokate is narrower on purpose: a plan-first budget for two people who keep their own accounts, at a lower price.
The quick verdict
Choose Monarch if you want wide account coverage, investment tracking, forecasting and an Android app. Choose Allokate if you want a plan for every dollar before the month starts, a free tier for two, and the option to keep accounts private from your partner.
Prices and features below come from Monarch's own pricing and couples pages, checked in October 2026. Vendors change plans often, so confirm on their site before you decide.
Three differences that matter for couples
1. When the decision happens
Monarch gathers your accounts into one dashboard and shows you how spending, budgets and net worth are doing. Allokate asks for the decision first: at the start of the month you list income and shared bills, give the rest a job, and watch one number, what is safe to spend. One looks back and keeps score. The other plans forward.
2. What your partner sees
Monarch's couples page says each partner gets "full visibility into all accounts and transactions" in the shared household, and asks couples to be comfortable with that level of transparency. In Allokate, sharing is a setting: share everything, choose what to share, or keep your accounts to yourself while you still plan the shared bills together.
3. What it costs for two
Monarch lists one subscription for the household. Allokate's free plan covers you and a partner when you plan by hand, and Pro adds bank sync at $7.99 a month or $59.99 a year. The numbers are laid out below.
Side by side
| Monarch | Allokate | |
|---|---|---|
| Main idea | One view of all accounts, budgets and net worth | Plan every dollar first: yours, mine and ours |
| How you budget | Tracking, budgeting and planning tools | A monthly plan: shared bills first, then each person's own money, with a safe-to-spend number |
| Partner visibility | Full visibility into all accounts and transactions in the household | Share everything, choose what to share, or keep yours private |
| Bank connections | Listed on its site | Pro only, read-only through Plaid. Free plan is manual. |
| Investments and net worth | Deeper investment tools on the Plus plan | Net worth and wealth views are part of Pro |
| Forecasting | Listed on the Plus plan | Not a focus |
| Monthly price | $14.99 | $7.99 for Pro, or free to plan by hand |
| Yearly price | $99.99 | $59.99 for Pro |
| Free option | None listed on its pricing page | Free for you and a partner |
| Trial | Advertises a free first week | 30 days of Pro |
| Partner cost | No extra cost, one subscription | Free, up to two people |
| Platforms | Web, iOS and Android | Web and iPhone |
Monarch lists a higher Plus plan with forecasting, multiple income sources and deeper investment tools, but its pricing page does not say what Plus costs or which plan each price applies to, so the figures above are the two prices it lists. Sources: Monarch pricing and Monarch for couples.
Which one fits your situation
| If you | Pick |
|---|---|
| Want investments, net worth and many account types in one dashboard | Monarch |
| Use Android, or one of you does | Monarch |
| Want forecasting tools | Monarch |
| Are happy for your partner to see every connected account | Monarch |
| Want to decide the month before it starts, with shared bills covered first | Allokate |
| Want to keep some accounts or spending private from your partner | Allokate |
| Want a free plan for two, planning by hand | Allokate |
| Want the lower price once you add bank sync | Allokate |
What a year, and three years, cost for two
| Monarch | Allokate Pro | Allokate Free | |
|---|---|---|---|
| One year | $99.99 | $59.99 | $0, planning by hand |
| Three years | $299.97 | $179.97 | $0, planning by hand |
That is $40 less per year, or $120 over three years, for Pro against Monarch's listed yearly price. These are list prices on yearly billing before any promotion. Monarch advertises a new-user offer of 30% off the annual Core plan with a code, which changes the first year, and its fine print says the code can expire at any time. Allokate Pro's 30-day trial and the free plan are the ways to test the habit before you pay.
Cheaper is not better if you need something the cheaper app does not do. If you need an Android app or investment tracking, the price gap does not matter.
Where Monarch fits better
- You want investments, net worth and many account types in one dashboard.
- One of you uses Android. Monarch lists iOS, Android and web.
- You are happy for your partner to see every connected account.
- You want forecasting tools, which Monarch lists on its Plus plan.
Where Allokate fits better
- Price. Pro is $7.99 a month or $59.99 a year, and the free plan covers two people planning by hand.
- Planning before spending. You assign every dollar at the start of the month, with shared bills covered first.
- Privacy that you choose. Share everything, share some of it, or keep yours private and still plan the shared bills together.
- Splitting shared bills your way: 50/50, in proportion to income, or a ratio you pick.
- Calm by design. Over-budget amounts appear in amber with a suggestion, not a red warning.
Allokate does not claim to match Monarch on breadth. It has no Android app, and the free plan has no bank sync, 3 months of history and 2 savings goals. Pro adds bank sync, unlimited history and goals, reports and the AI assistant. Switching is a fresh start, since there is no import from Monarch.
How the budgeting style differs
Monarch pulls your accounts into one place and helps you watch spending, budgets and net worth, and says a shared budget can give each partner flexibility to spend on what matters to them. Allokate asks you to decide the month first. You assign income to bills, savings and spending, cover shared costs before personal ones, and get one number for what is safe to spend.
If you like a dashboard that tells you how things went, Monarch fits that. If you want a plan that tells you where each dollar goes before it goes anywhere, Allokate fits that.
Try the shared-bills part for free
The hardest couples question is who pays what. Use the free split bills by income calculator to compare 50/50, proportional and equal leftover with your own numbers, then read budgeting as a couple with separate accounts for how shared and private money fit together. Start on the free plan and plan one month by hand with your partner. If you want your accounts to sync, Pro starts with a 30-day trial.
Questions people ask
How much does Monarch cost?
Monarch's pricing page lists $14.99 a month or $99.99 a year, and adding household members costs nothing extra. Prices change, so check Monarch for today's offer. Checked October 2026.
How much does Allokate cost for a couple?
Free for the two of you if you plan by hand. Allokate Pro adds bank sync for $7.99 a month or $59.99 a year, with a 30-day free trial.
How much do Monarch and Allokate cost over three years?
On yearly billing at list prices, Monarch is $99.99 a year, or $299.97 over three years. Allokate Pro is $59.99 a year, or $179.97 over three years, and the free plan costs nothing if you plan by hand. These exclude promotions, and Monarch advertises a new-user offer on its annual Core plan. Checked October 2026.
What can my partner see in Monarch?
Monarch's couples page says each partner gets full visibility into all accounts and transactions in the shared household, and asks couples to be comfortable with that level of transparency. In Allokate you can share everything, choose what to share, or keep your accounts private. Checked October 2026.
Does Allokate sync with my bank?
Yes, on Pro. Allokate connects through Plaid with read-only access. On the free plan you add transactions by hand.
Does Allokate have an Android app?
Not yet. Allokate runs on the web and on iPhone. Monarch lists iOS, Android, and web.
Who should stay with Monarch?
People who want broad investment tracking, forecasting, or the same app on Android. Allokate is built for planning a monthly budget as a couple.
Try your first month together.
Set up yours, mine, and ours in about 10 minutes. Your partner joins free.