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Small-Scale Question Sunday for October 27, 2024

Do you have a dumb question that you're kind of embarrassed to ask in the main thread? Is there something you're just not sure about?

This is your opportunity to ask questions. No question too simple or too silly.

Culture war topics are accepted, and proposals for a better intro post are appreciated.

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I use Monarch. Having multiple commercial trackers is incredibly useful as a number of banks don't play nice with Plaid (including my primary bank). It's great as it is quite comprehensive, I can track all of my investment accounts on it quite easily from individual accounts to 401k, manage budget and expenses and add notes for purchases for reminders (very useful if you have multiple revenue streams and you need to match expenses to income for tax deductions). I find it fairly comprehensive.

I have a referral link here if anyone wants to try it.

https://www.monarchmoney.com/referral/zu98cfajjp

How does monarch authenticate with banks? Did you need to fork over your bank password?

Monarch uses 3rd parties for authorization, so Plaid, MX, or Finicity will log into your account. Monarch itself does not store passwords. Whether you trust the 3rd parties, of course, is another discussion.