FAQs
Does Rocket Money really work? ›
Its free offerings may be a great fit for those looking for basic budgeting tools, and its unique features, such as bill negotiation and a built-in savings account may be worth the small monthly fee—although if you're not comfortable linking your bank accounts, Rocket Money won't work for you.
Does Rocket Money really cancel 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.
Is it safe to give Rocket Money to my bank account? ›Yes, Rocket Money is safe. It has 256-bit encryption to store data and is partnered with Plaid to securely link your accounts. Rocket Money won't be able to make changes to your accounts, and you have the option to unlink accounts.
Is Rocket Money better than YNAB? ›If you're looking for easy and intuitive, Rocket Money is the better choice. If you want to dive deeper into the details of your monthly spending, YNAB is better.
Does Rocket Money hurt your credit score? ›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.
Are there better apps than Rocket Money? ›Ways to save
However, Mint easily has a more robust offering of available products for its users. Within the Mint app, you can find credit cards, loans, investment accounts, savings accounts, and different types of insurance. The Rocket Money app doesn't have these features.
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.
Can Rocket Money actually lower bills? ›Bill Negotiation
If Rocket Money thinks a certain bill is too expensive, they may offer to negotiate that bill on your behalf. But they'll also take a cut of the savings—which kind of defeats the purpose. Rocket Money charges 30–60% of the amount they help you save for the year.
Rocket Money is free to download and set up, but most of its advanced features are behind a paywall with an unusual pay-what-you-wish price, ranging from $4 to $12 per month, with the app suggesting $10 per month. You get charged annually, however, so you're looking at a minimum of $48 per year.
Does Rocket Money need your SSN? ›These inquiries may include asking you for further information, requiring you to provide your full address and Social Security number, and/or requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report, or verifying information you provide against third ...
Does Rocket Money take a percentage of savings? ›
Bill Negotiation Fee: If we successfully negotiate your bills and secure you savings, we'll charge a fee based on 35% - 60% of your first year's savings. You decide the percentage within this range!
Do people actually use rocket money? ›Overall, user reviews are positive about Rocket Money's budgeting and money management features. Folks say the platform is easy to use and is broadly considered to be worth the cost for a Premium Membership. However, the vast majority agree that the Bill Negotiation isn't worth the cost.
What is the #1 budgeting app? ›| App | Cost | Best for |
|---|---|---|
| Simplifi | $47.88 billed annually | Quicken users |
| Empower | Free | A complete view of finances |
| Goodbudget | $10 monthly or $80 annually | The digital envelope system |
| EveryDollar | $12.99 monthly or $79.99 annually | First-time budgeters |
Our algorithm works its magic to find all of your recurring subscriptions and bills. With all of your accounts in one place, see and understand your spending trends.
Is the EveryDollar app worth it? ›EveryDollar is a good choice for those who are in search of simple, back-to-basics budgeting software. There's a free version that lets you enter your transactions yourself. However, if you want the app's full functionality and automatic sync features, expect to pay up.
Is Rocket dollar worth it? ›While it isn't free, it makes sense for a wide variety of use casJB - no affes and investment goals. Rocket Dollar lets you invest in alternative assets with a self-directed IRA and solo 401(k). It's incredibly flexible and even lets you bring your own deal. However, fees can be higher than some competitors.
Is there a monthly fee for Rocket Money? ›The app also offers bank-level security with 256-bit encryption to keep your personal data safe. Rocket Money is free to use, although there are optional services, such as bill negotiation, that you can opt in to for an extra cost ranging from $4 to $12 monthly.