# Monarch Money vs Wealthfolio (2026): Free Alternative to Monarch Money

Canonical: https://caniforkit.com/vs/monarch-money-vs-wealthfolio
Last updated: 2026-08-11

Compare Monarch Money ($14.99/mo) vs Wealthfolio ($0/mo open source AGPL-3.0 alternative to Monarch Money). Side-by-side breakdown of pricing, self-hosting setup, data storage, and practical trade-offs.

## Side-by-Side Comparison Matrix

| Feature / Metric | Monarch Money | Wealthfolio |
| --- | --- | --- |
| Monthly Subscription | $14.99/mo | $0.00 / month |
| 1-Seat Annual Cost | $180/yr | $0.00 / year |
| 5-Person Team Annual Cost | $899/yr | $0.00 / year |
| 10-Person Team Annual Cost | $1,799/yr | $0.00 / year |
| License Model | Proprietary Commercial SaaS | AGPL-3.0 |
| Hosting / Runtime | Vendor Cloud | Local or hosted |
| Data Ownership | Stored on vendor servers | Desktop and self-hosted modes use a local SQLite database (the web server exposes a configurable app.db path); optional Wealthfolio Connect and encrypted device sync send selected holdings/account data through the vendor service. |
| GitHub Stars | Closed Source | ★ 8.5k |
| Code Repository | None | https://github.com/afadil/wealthfolio |
| The Catch / Trade-off | Recurring subscription cost | Wealthfolio's free local mode lacks Monarch's turnkey multi-institution sync, household collaboration, automatic transaction cleanup, recurring detection, and integrated goal planning. |

## About Wealthfolio
Investments, net worth, spending, budgets and goals on your device; automatic broker sync is the paid shortcut.

- **Installation**: Native desktop or iOS app, or the official Docker image/Compose deployment for web mode
- **Data Storage**: Desktop and self-hosted modes use a local SQLite database (the web server exposes a configurable app.db path); optional Wealthfolio Connect and encrypted device sync send selected holdings/account data through the vendor service.
- **Supported Platforms**: desktop, mobile, web, self-hosted, one-click install
- **The Catch vs Monarch Money**: Wealthfolio's free local mode lacks Monarch's turnkey multi-institution sync, household collaboration, automatic transaction cleanup, recurring detection, and integrated goal planning.

## Cost Savings Breakdown
Switching from Monarch Money to Wealthfolio eliminates ongoing per-seat subscriptions:
- **Solo / 1-seat**: Save **$180/year**
- **5-person team**: Save **$899/year**
- **10-person team**: Save **$1,799/year**

## Frequently Asked Questions

### Is Wealthfolio a good free alternative to Monarch Money?
Yes. Wealthfolio is a verified open source (AGPL-3.0) replacement for Monarch Money. Investments, net worth, spending, budgets and goals on your device; automatic broker sync is the paid shortcut.

### What is the catch when switching from Monarch Money to Wealthfolio?
Wealthfolio's free local mode lacks Monarch's turnkey multi-institution sync, household collaboration, automatic transaction cleanup, recurring detection, and integrated goal planning.

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