| Rocket Money (2024)

FAQs

Is Rocket Money actually good? ›

Yes, Rocket Money is a legitimate budgeting app that can help you track your spending habits, identify ways to save money and get a better handle on your personal finances. It has a 4.5-star (out of 5) rating on Trustpilot and is accredited by the Better Business Bureau.

Rocket Money also uses 256-bit encryption to secure your data. Does Rocket Money really lower bills? Yes, Rocket Money can really lower your bills when you use its bill concierge service, which is available on a Premium account.

While Rocket Money is a free app, there are several optional paid services and features that could result in a charge or transfer appearing on your bank or credit card statement: Smart Savings Deposits: These are not charges, but deposits into a Smart Savings account that's tied to your Rocket Money account.

Cancel unwanted subscriptions

Rocket Money will end your subscription, even communicating by email, phone call, or snail mail on your behalf. It's that simple. Feel like handling it yourself? Tap the phone or website icon to contact the subscription company on your own.

Checking your credit score within the Rocket Money app is a soft inquiry. This type of inquiry has no impact on your credit score and is not reported to any of the credit bureaus.

Essentially, Rocket Money charges you 30% to 60% of your annual savings in an upfront fee. For example, if Rocket Money lowers your AT&T internet service from $80 to $60 per month, that's $240 in annual savings.

Both Rocket Money and PocketGuard, another budgeting app, can negotiate your bills for you for a cut of your savings.

Mint is a budgeting app first and foremost, whereas Rocket Money is a personal finance app with budgeting, credit reporting, and bill negotiation features. This means Mint is more comprehensive for creating custom budgets and managing your spending, but Rocket Money has more features overall.

Rocket Money is a free service to use, but we also provide optional paid services to help you save money. Learn about them here! At Rocket Money, we're committed to fostering your financial prosperity.

Rocket Money will identify recurring payments from your spending and list your subscriptions in one place—as well as when each is due—so you can avoid late fees and overdrafts. But their main feature is that they'll assign you a “concierge” to cancel any duplicate or unwanted subscriptions for you.

Is Rocket Money not free anymore? ›

Rocket Money's free version only shows you your subscriptions -- it won't cancel them for you. To access this service, you'll need to pay $4 to $12 per month for the paid version.

Rocket Money is right for:

If you're looking for a way to simplify your finances, the Rocket Money app could be a good tool. It shows all of your bank and credit card accounts in one place, organizes your bills and budgets, and even offers credit score tracking.

Rocket Money was originally known as Truebill when it was founded in 2015. The company was acquired in 2021 by Rocket Companies—which also owns Rocket Mortgage, Rocket Loans, and is the issuer of the Rocket Visa Signature® Card. Its name changed in late August, 2022.

As for the savings feature, you'll need to create a savings goal in the app and from there, Rocket Money (formerly Truebill) will use your spending habits to determine how much money to save and when to save it.

YNAB is a great alternative for those who just want some help with budgeting and nothing else. It offers all of the budgeting features that Rocket Money offers, plus Goal Tracking.

Rocket Money offers super intuitive budgeting functionality to help you keep your expenses on target. You can start your budget in the mobile app or on our desktop site.