Default Categories

Machine learning is used to put transactions in to default categories. Monarch is always working on ways to find patterns in transactions so they can be put in the right category. The system gets smarter over time since it can learn when someone "fixes" a transaction that was categorized incorrectly.

This is different than Custom Categories which don't use machine learning and require you create Transaction Rules to manually place things in the correct categories.

We highly recommend using default categories as much as possible instead of creating custom categories that are similar to the default ones. You can change the names and emoji's to better suit your style.

Removing Default Categories

Default categories can be disabled but not deleted. Disabling does effectively the same thing as deleting since they will be removed everywhere in Monarch. But they can still be found in the settings screen in case you want to re-enable them in the future:

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A good place to start is by reviewing and disabling default categories that may not apply to you:

  • Housing: disable rent and renters insurance if you own a home with a mortgage (or disable mortgage and homeowner insurance if you rent)
  • Auto & Transport: if you don't own a car you can disable most of these but keep taxi & ride sharing and public transportation
  • Children: this whole group of 3 categories can be disabled if you don't have kids
  • Business: this whole group of 9 categories can be disabled if you don't have business expenses. You can also disable the business income category.

View or edit default categories at https://app.monarchmoney.com/settings/categories or in the mobile app under Settings -> Categories.

Default Categories

Income

  • Paychecks
  • Interest
  • Business Income

Expenses

  • Gifts & Donations
    • Charity
    • Religious Donations
    • Gifts
  • Auto & Transport
    • Auto Payment
    • Public Transportation
    • Gas
    • Maintenance
    • Parking
    • Auto Insurance
    • Taxi & Ride Sharing
  • Housing
    • Mortgage
    • Rent
    • Home Improvement
    • Homeowner Insurance
    • Renters Insurance
    • Lawn & Garden
  • Bills & Utilities
    • Garbage
    • Water
    • Gas & Electric
    • TV & Internet
    • Phone
  • Food & Dining
    • Groceries
    • Restaurants
    • Coffee Shops
  • Travel & Lifestyle
    • Travel & Vacation
    • Entertainment & Recreation
    • Personal
    • Pets
    • Fun Money
    • Subscriptions
  • Shopping
    • Shopping
    • Clothing
    • Furniture & Housewares
    • Computers & Electronics
  • Children
    • Child Education
    • Child Care
    • Child Activities
  • Education
    • Student Loans
    • Tuition
    • Books & Supplies
  • Health & Wellness
    • Medical
    • Dentist
    • Fitness
    • Health Insurance
  • Financial
    • Life Insurance
    • Loan Repayment
    • Financial Fees
    • Cash & ATM
  • Other
    • Uncategorized
    • Check
    • Miscellaneous
  • Business
    • Advertising & Promotion
    • Business Utilities & Communication
    • Employee Wages & Contract Labor
    • Business Travel & Meals
    • Business Auto Expenses
    • Business Insurance
    • Legal & Professional
    • Office Supplies & Expenses
    • Office Rent
  • Taxes
    • Federal Income Tax
    • State Income Tax
    • Property Tax

Transfers

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