Master Your Cash Flow: The Power of Recurring Transactions in Monarch Money

Managing your finances isn’t just about tracking where your money went—it’s about knowing where it’s going. In my latest video, I dive into one of the most impactful, yet often overlooked, features in Monarch Money: the Recurring Transactions tool.

If you’ve ever been hit by a "surprise" annual subscription or forgot to cancel a free trial that turned into a paid one, this feature is your new best friend.

Why You Need to Track Recurring Merchants

Companies count on their billing getting lost in the shuffle of your daily transactions. Whether it’s an HBO Max subscription you only wanted for one month or a 7-day trial you forgot to cancel, these small leaks can add up to hundreds of dollars in wasted cash.

Monarch Money acts as the perfect antidote by allowing you to designate specific merchants as "recurring," giving you a clear forecast of your upcoming expenses.

How to Manually Tag a Recurring Transaction

While Monarch automatically identifies about 80% of your recurring bills, it might miss some if the amount or the billing date varies slightly each month [01:13]. Here is how to fix that:

1. Find the Transaction: Go to your Transactions tab and select the merchant you want to mark as recurring [03:25].

2. Edit the Merchant: Click the three dots in the top right corner of the transaction detail and select "Mark merchant as recurring" [03:38].

3. Set the Details: You can set the start date, status (active), and frequency (e.g., monthly or yearly) [03:47].

4. Save: Once saved, this merchant will now appear in your Recurring tab, allowing you to forecast your outgoing cash flow [04:29].

Pro Tips for Success

• The One-Year Review: If you are new to Monarch, don't just look at last month. Go back and review a full year of activity to catch those "big" annual subscriptions before they hit your card again [02:05].

• Monthly Checklist: Make it a habit to check your Recurring tab once a month. It’s much easier to cancel a service before the charge hits than to fight for a refund afterward [02:34].

• Cash Flow Forecasting: Use the recurring view to see a forecast of your upcoming bills. This helps you manage your bank balance and ensures you always have enough for the essentials [04:43].

How do you manage your subscriptions? Do you have a favorite "hidden gem" feature in Monarch Money? Let me know in the comments!

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No Budget, No Apps, No Hassle: 3 Fast Tracks to Financial Health in 2026

Happy New Year! As we step into 2026, many of us are looking for ways to improve our financial standing without the headache of complex spreadsheets or subscription-based apps. If your goal is to get out of debt or build a safety net, you don’t need a massive life overhaul to start.

In his latest video, Alex Mahoney outlines three simple steps you can take in under 20 minutes that will put you ahead of the curve. Here is how you can jumpstart your financial security today.

1. Build an "Automatic" Emergency Buffer

The first step to financial peace of mind is protecting yourself against the unexpected—like medical bills or sudden home repairs.

• The Action: Open a High-Yield Savings Account (HYSA). Alex personally recommends Ally Bank (though not sponsored) for its ease of use.

• The Goal: Set a note on your phone to contribute $100 per pay period for the next 10 pay periods.

• The Result: In just a few months, you’ll have a $1,000 emergency fund. This habit does more than just save money; it builds the discipline of financial security.

2. Stop Leaving "Free Money" on the Table

If you are employed, you might be missing out on a guaranteed 100% return on your money through an employer 401k match.

• The Action: Check your enrollment status. If your employer offers a match, contribute enough to get the full amount. This is "free money" that helps you build wealth for the future.

• Alex’s Pro Tip: When choosing where to put that money, look for a Total Stock Market Index Fund or an S&P 500 Fund to ensure your base is diversified.

3. Break the Cycle: Cut the Cards

If you are struggling with debt, the most important thing you can do right now is stop the bleeding.

• The Action: Stop using your credit cards immediately. While points and rewards have their place, they aren't worth the stress of a debt cycle.

• The Alternative: Switch to a "pay-as-you-go" system using your debit card.

• The Goal: You don't even need a formal debt-paydown plan yet. Simply pledging to stop using credit until you have a solid budget in place will set you apart from the majority of people struggling with finances today.

Final Thoughts

You don't need a coach or a 10-page plan to start winning with money. By securing your emergency fund, capturing your employer match, and pausing credit card use, you are already on the right track for 2026.

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Why You Definitely DON'T Need a Financial Advisor to Budget, Save, and Invest

We’ve all seen the headlines suggesting that once you hit a certain age or income level, you need a professional to take the wheel of your financial life. But according to Alex Mahoney of Kota Financial Coaching, the industry often makes personal finance sound far more complicated than it actually is to justify high fees.

Here’s why you might be better off as a DIY investor or working with a financial coach instead of a traditional advisor.

1. It’s Never Been Easier to DIY

The Wall Street Journal recently pointed out that technological aids—budgeting apps like Monarch Money, financial calculators, and robo-advisors—have made DIY investing more accessible than ever [00:52]. Alex notes that if you can learn the basics, these tools can do much of the heavy lifting that advisors used to charge thousands for.

2. The "1% Fee" is a Retirement Killer

The traditional advisor model often charges 1% of your managed assets. On a $500,000 portfolio, that’s $5,000 every single year [04:17]. Over decades, the lost compounding interest on those fees can cost you hundreds of thousands of dollars. Alex asks: why not pay for a few hours of education once, rather than letting an advisor "rake in fees and laugh all the way to the bank" year after year? [04:59].

3. Major Life Events Aren't Always "Complex"

Advisors often claim you need them when you get married, have a child, or approach retirement. Alex argues these are mostly budgeting shifts, not portfolio shifts [01:47].

• Having a kid? You just need to budget more for savings.

• Getting married? Your tax situation might change, but your core investments likely shouldn't. Unless you have an extremely complex situation—like owning a large corporation or managing a massive inheritance—these milestones are manageable with a solid plan and a one-time consultation [02:44].

4. Index Funds vs. Over-Complication

A common tactic in the industry is to "muddle the issue" with a confusing array of investment vehicles. In reality, most people only need low-fee index funds or target-date funds to meet their goals [05:39]. You don't need a year-over-year advisor to tell you to stay diversified; that’s a skill you can learn once and apply for a lifetime [07:45].

5. Planning for the "Smile Curve"

When it comes to retirement, Alex addresses the "Smile Curve" of spending: you spend more when you're young and active, less as you slow down, and more again at the end of life for medical care [09:53]. While this requires planning, it doesn't require handing over 1% of your net worth annually. Tools and one-time consultations with a CPA or a financial coach can help you map this out without the ongoing "management" tax [10:40].

The Bottom Line: Learn to Fish

Alex’s philosophy is simple: Hire someone to teach you how to fish, don’t hire someone to fish for you forever.

If you are a middle-class saver with a straightforward income, you likely don't need an ongoing financial advisor. Between a smart financial coach for the "how-to" and a CPA for the tax specifics, you can keep more of your hard-earned money in your pocket [15:05].

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