Monthly Habits with Monarch Money: Building Long-Term Financial Success
Monthly Habits with Monarch Money: Building Long-Term Financial Success
Daily and weekly habits keep you grounded, but your monthly routine is where you step back and see the big picture. Monarch Money makes it simple to measure progress, adjust strategy, and set yourself up for long-term success.
Spending just 30–45 minutes each month reviewing your finances can completely transform your financial future. Here’s how to make it happen.
✅ Step 1: Review the Past Month
Go to Plan > Past Months and compare your budget vs. actuals.
- Did you overspend in any categories?
- Were there areas you underused?
- Did your money flow match your goals?
📊 Reflection Tip: Don’t judge—just notice. The goal is awareness, not guilt.
✅ Step 2: Adjust Your Budget for Next Month
- Duplicate your previous month’s budget, or create a fresh one.
- Adjust for irregular expenses (birthdays, travel, holidays).
- Increase savings or debt payoff categories if you came in under budget.
💡 Best Practice: If your income changes month-to-month, build a “baseline budget” that covers essentials and adjust the rest as income flows in.
✅ Step 3: Track Net Worth
Go to Net Worth and review your progress.
- Update manual accounts (real estate, vehicles, crypto, etc.).
- Check debt balances for accuracy.
- Look for trends: Is your net worth growing, stable, or declining?
📈 Pro Insight: Even small positive movement in net worth each month compounds into real wealth over time.
✅ Step 4: Measure Goal Progress
Review all active goals in Goals.
- Are you on track to hit timelines?
- Did you miss any contributions?
- Should you adjust amounts up or down?
🎯 Motivation Hack: Take screenshots of your goal progress each month. Over time, this creates a “visual diary” of your growth.
✅ Step 5: Review Cash Flow Patterns
Monarch’s reports allow you to analyze:
- Income vs. expenses for the month
- Categories with the most spending
- Recurring subscriptions or charges you can cut
🔍 Why this matters: Understanding your patterns helps you trim waste and reallocate toward priorities.
✅ Step 6: Celebrate Wins & Reset
- Celebrate a goal contribution, debt reduction, or a positive savings rate.
- Write down one money habit you’ll focus on for the new month.
- Reset mentally—each month is a new chance to grow.
🙌 Encouragement: Money success is about progress, not perfection.
⏰ Monthly Routine Recap (30–45 Minutes)
- Review past month’s budget vs. actuals
- Adjust budget for the new month
- Track net worth
- Measure goal progress
- Review cash flow patterns
- Celebrate wins & reset for the new month
🚀 Next Step: Advanced Features
Once your monthly routine is solid, you’re ready to explore Monarch’s advanced features—automation, custom rules, and investment tracking. These tools take your financial system to the next level.
👉 Read the next article: Advanced Features in Monarch Money
Or go back to the full guide:
📖 Practical Guide to Using Monarch Money (For Active Users)
📩 Want accountability to stay consistent with your monthly reviews? Book a financial coaching session and get personalized support to stick with your plan and hit your goals.