Is Rocket Money Legit & Worth It? Our Honest Review!

Rocket Money is a legit budgeting app that's helped over 5 million members save over $1 billion so far. And it's an excellent app if you need help staying on top of bills, want to cancel subscriptions, and want an easy way to track all of your financial accounts.

But is Rocket Money worth it? And should you upgrade to Rocket Money Premium if you decide to download the app?

Our team tested out the app to find out. And this Rocket Money review is sharing how it works, its pros and cons, and how to decide if it's right for you.

Key Takeaways:

• Rocket Money is a leading budgeting app for Android and iOS
• The app was formerly called Truebill
• The app specializes in subscription management, budgeting help, and spending insights
• Rocket Money Premium users can also cancel subscriptions and get their bills negotaited for them
• Rocket Money Premium costs $6 to $12 monthly

Is Rocket Money Legit?

Rocket Money is legit and helps people save money by budgeting more effectively and cutting costs like subscriptions. It has over 5 million members with a 4.2 star rating on the Apple iOS store and 4.3 star rating on the Google Play Store.

If you're looking for an all-in-one money app to help you budget and track your spending, Rocket Money could be for you. And we like that Premium members can save more money by having their bills negotiated and by cancelling unused or unwanted subscriptions.

Is Rocket Money Worth It?

Rocket Money is worth it if you want an easy app to monitor your monthly cash flow and savings goals. It's also an excellent Mint alternative for tracking your net worth, credit score, and saving money on autopilot.

Rocket Money Premium is also worth it if you want unlimited budgeting tools, full credit reports, and help canceling services and lowering bills to save.

That said, Rocket Money isn't for everyone. If you're an experienced budgeter or want more investing features, it's not the best app out there.

How Does Rocket Money Work?

You can download Rocket Money for free for Android or iOS. After, you create an account with your email and answer several questions about your financial goals. From there, you link at least one bank account to the app so Rocket Money can access your data.

Rocket Money lets you connect different types of accounts, including checking, savings, investment, and cash accounts. It then syncs data automatically every few hours to keep things up to date.

From there, you can explore a wealth of features to help you budget, save money, and track your overall finances.

Rocket Money Features & Using The App

Here are the main features you get with Rocket Money:

• Spending Insights: Get a breakdown of your spending and cash flow and tips to reach your savings goals. Rocket Money also sends real-time alerts if balances are low to help you avoid overdraft fees.
• Budgeting Tools: Get assistance with building spending allowances and get budgeting tips to help you cut down on areas of overspending. Rocket Money also automatically categorizes expenses like Mint used to.
• Manage Subscriptions: Rocket Money highlights recurring charges so you don't spend money on services you don't need. Premium members can have the Cancellation Concierge team cancel subscriptions on their behalf to save time.
• Smart Savings: You can create savings goals and automatically move money into an FDIC-insured partner bank that Rocket Money works with.
• Bill Negotiation: Premium Rocket Money users can have bills like cell phones and cable bills negotiated on their behalf. You can also get overdraft and late fees reimbursed and find cheaper car insurance.
• Credit Scores: Access your free credit score report and also enjoy real-time alerts on changes to your score.
• Net Worth Tracking: Link all of your accounts to Rocket Money to get a breakdown of your assets and liabilities. You can even add custom categories for investments like alternative assets and collectibles.

Ultimately, Rocket Money is both a budgeting app and a bill/subscription negotiation service. This means it can save you money upfront by helping you cancel or lower certain bills. And in the long-run, it lets you consolidate your finances and create a budget that works for you.

Just note that some features are only available to Rocket Money Premium users. This includes unlimited budgets, full credit reports, net worth tracking, real-time data syncing, and the cancellation and negotiation service.

🚀 Get started with Rocket Money!

How Much Does Rocket Money Cost?

Rocket Money is free to use if you just want basic budgeting tools and spending insights. You can upgrade to Rocket Money Premium to unlock the app's main features. Rocket Money Premium costs $6 to $12 per month when billed monthly or $48 to $60 per year when billed annually.

Here's a breakdown of Rocket Money Premium versus the free app:

Plan	Price	Features
Free	$0	Basic budgeting and spending insights
Premium (Monthly)	$6 to $12 per month	Full features, including net worth tracking, bill negotiations/cancellations, credit score reporting, and real-time data syncing
Premium (Annual)	$48 to $60 per year	Full features, including net worth tracking, bill negotiations/cancellations, credit score reporting, and real-time data syncing

Rocket Money Premium has a 7-day free trial so you can get a feel for the full app. Additionally, the app uses a “pay what's fair” model, so you choose how much to pay per month or year within a price range.

Pros & Cons

Pros:

• You can try the app for free
• Lets you sync a variety of accounts for more data
• Works with 15,000+ financial institutions for easy account setup
• Helps users save money with spending insights and budgeting tools
• Premium members can cancel subscriptions and negotiate lower bills
• Available on both Android and iOS
• There's a 7-day free trial

Cons:

• Limited investing features other than data syncing
• Most features require Rocket Money Premium
• Rocket Money's savings account doesn't pay interest
• No debt-payoff tools or support

Is Rocket Money Safe?

Rocket Money is safe and uses Plaid to securely connect to your bank accounts and financial data. It also says the company uses bank-level 256-bit encryption to keep this data safe. Many FinTech and passive income apps use Plaid, so this is industry-standard security and safety.

You still have to be comfortable with sharing your data to use Rocket Money. But this is the case with any banking or budgeting app that automatically syncs your data.

What Are Some Good Alternatives?

We think Rocket Money is a great app if you need help cutting down expenses and want a company working on your behalf. It also has some powerful budgeting tools, especially it's real-time alerts and saving tips.

That said, some Rocket Money alternatives are better choices depending on your goals and experience level:

• You Need A Budget (YNAB): Best for budgeting help
• Empower Personal Dashboard: Best for investing help and net-worth tracking
• Honeydue: Best budgeting app for couples
• EveryDollar: Best for becoming debt free
• Credit Karma: Best free Mint alternative
• PocketGuard: Best for managing weekly spending

Ultimately, choosing the right budgeting app depends on your goals and what you're comfortable with. But if you want an all-in-one app to also tackle bills or subscriptions, Rocket Money could be worth trying.

👉 The 20+ Best Apps That Pay Real Money.

Is There Customer Support?

You can email customer support at [email protected]. There's also an online help center with answers to common questions people have. Alternatively, chat with customer support via the app when logged in.

Rocket Money's support team is available from 9am to 8pm EST, Monday through Friday.

👉 What To Do If You're Struggling With Money.

Who Should Use Rocket Money?

We think Rocket Money is a great app if you need some basic budgeting help and struggle to stay on top of bills. Premium is also worth signing up for to get help canceling subscriptions. Plus, it can save you money since Rocket Money's team can negotiate lower bills on your behalf.

If you're experienced with budgeting, the app might be less useful. The same is true if you don't spend very much and are generally more frugal.

But for combatting overspending and recurring charges, Rocket Money is one of the best apps out there. And you can always leverage its 7-day free trial to see if it's a good fit.

Want even more saving tips? Checkout:

• The 20+ Best Reward Apps.
• How To Get Money To Pay Rent Tomorrow.
• How To Invest For Daily Income.