Thallo vs Monarch Money
Monarch is a budgeting app that also shows your net worth. It syncs your accounts, sorts your transactions and tracks your investments, and for planning your spending it does much more than Thallo.
Thallo is built around understanding your net worth. It covers every kind of account, each in its own currency, and shows the total in the currency you choose. Next to the total you can see what changed it, how much of it you could reach quickly, and how up to date it is.
Side by side
Monarch's column is from its help centre and website, checked on 5 November 2026.
| Thallo | Monarch Money | |
|---|---|---|
| Multi-currency net worth | Yes, with daily rates from central banks and official sources | No. Monarch says it does no currency conversion and shows every amount with a $ sign |
| Handles property, cars, art | Yes, as your own estimate | Yes. Homes through Zillow and cars by VIN for US members. Anything else as a manual account |
| Explains currency vs balance change | Yes, in What moved | No, as there is no conversion |
| Tracks individual holdings | No | Yes. Holdings per account, with time-weighted returns against benchmarks like the S&P 500 |
| Budgeting | No | Yes, it's the main feature |
| Works without bank logins | Yes. Thallo never connects to banks | Yes. Accounts can be added manually |
| Price (5 November 2026) | Free during early access | USD 99.99 a year (Core). Monthly billing also offered. No free version |
What Thallo shows you
Why your total changed
Pick any two dates and What moved splits the change into the part from your balances and the part from exchange rates. For example, a Canadian has CAD 30,000 in savings and USD 20,000 at a US broker. Over a month they put CAD 1,500 into savings, while the US dollar slips from CAD 1.36 to CAD 1.33. Net worth rises by CAD 900, and What moved shows that as CAD 1,500 from balance changes and CAD −600 from currency effect. So the saving went to plan, and the total grew by less than that only because of the exchange rate. (Illustrative numbers.)
Trends, currencies and Signals
The overview has a 12-month line of your net worth and a breakdown by currency, which is useful if, for instance, a third of your money is in US dollars and the rest in Canadian. Once a week, Signals lists three to five things worth a look. Examples are how much a weaker dollar cost you that month, or a car whose value you haven't changed in 12 months.
Property and other estimates
A house, a car or a private loan can go in with your own estimate. Those figures are marked with ≈, so it's always clear which numbers came from a statement and which are yours.
Currencies in Monarch
Monarch's help centre says it does no currency conversion and shows every amount with a $ sign, so CAD 10,000 in one account and USD 10,000 in another show as $20,000. It recommends linking only USD or CAD accounts and not mixing them, because the totals would be misleading. If all your money is in one of those currencies, this won't affect you.
What Monarch does
Monarch reads every transaction and helps you plan your spending. In the US, connected accounts update through Monarch's data providers. Your home gets a fresh Zestimate every Monday, and your car gets a value from its VIN around the 27th of each month. Monarch says both valuations are for US members only, not Canada.
For investments, it tracks the quantity and value of each security, works out time-weighted returns, and compares your portfolio with benchmarks like the S&P 500. It also has a mobile app.
Thallo tracks balances only, so it can't show where last month's money went, and it runs in the browser rather than as a native app. Since you type in your balances, Thallo never needs your bank login.
Moving from Monarch
Note each account's balance at a few past month-ends, in the account's real currency. If you added a EUR account to Monarch, the figure shown with a $ is probably in euros. Fill those into the net worth spreadsheet template and import it once you've signed up. Your browser reads the file without uploading it, and only the accounts and balances you confirm are saved.
Questions
How much does Monarch cost?
Monarch's partner page gives the regular price of the Core plan as USD 99.99 a year. Its help centre says it bills monthly or yearly and only offers a paid version. We couldn't find the monthly price on a Monarch page we could open, so we've left it out.
Can Thallo replace Monarch?
For net worth, yes, but not for anything to do with spending, so plenty of people will want both.
You can start free and keep Monarch for budgeting.