Baniya Vs Monarch
Monarch Money tracks budgets. Baniya tracks Freedom.
Baniya and Monarch Money are both personal finance apps, but they serve very different goals. If you’re considering which to use, it comes down to monthly budgeting versus planning your financial freedom.
Why Choose Baniya?
Join thousands of users choosing Baniya to break free from budgeting and start building toward true financial independence.
Baniya
For the F.I.R.E. minded
Monarch
For monthly budgeting
Long-term financial independence
Baniya helps you plan to retire early by growing passive income to cover your living expenses. It’s all about achieving your F.I.R.E. goal.
Short-term budgeting and tracking
Monarch centers on monthly budgets, expense tracking, and account balances to help you manage day-to-day finances.
Personalized FIRE roadmap
Baniya creates a step-by-step plan tailored to your data – showing exactly what to do (investments, debt payoff, savings targets) to reach financial independence faster.
DIY budgeting tools
Monarch offers budgeting categories, trackers, and graphs. It’s up to you to set budgets and goals; the app organizes your information but doesn’t provide step-by-step guidance.
Passive income > expenses
Baniya calculates your “FIRE number” and projects how changes in saving or investing affect your retirement timeline.
Balanced budget & net worth
Monarch helps you save for goals and monitor your finances, but it’s not focused on FIRE timelines.
Progress toward FIRE
Tracks passive income vs expenses, net worth, and alerts you to changes impacting your FIRE journey.
Spending and balances
Tracks income, expenses, budgets, and investment accounts. Doesn’t show FIRE progress.
Actionable insights
Suggests personalized steps to close your FIRE gap and speed up your retirement timeline.
No personalized advice
Gives you data, but no direct recommendations.
Future-focused
Ideal for long-term planners looking 5, 10, or 20+ years ahead.
Month-to-month
Focuses on managing current finances.
Ready to accelerate your F.I.R.E. journey?
Stop merely tracking and start planning. Join thousands of users who are building their path to financial freedom with Baniya.