Rocket Money Review 2023: Is it Safe and Free?

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Rocket Money is a cash administration app that goals to assist customers scale back their spending and lower your expenses. To date, the corporate has helped over 2 million members save over $1 million. Some of the ways in which the app helps customers scale back their spending embody canceling unused subscriptions, negotiating your payments to decrease them and extra. According to the corporate, customers can save as much as $550 per 12 months or extra.


  • No upfront prices – you don’t have to pay upfront and solely pay a payment after they assist you save. Or, you will get the premium plan for $4.99 per thirty days.
  • High potential to save cash – on common, a lot of the platform’s customers can save a mean of $96 per 12 months or extra by utilizing the platform’s instruments.
  • 5+ other ways that will help you lower your expenses – together with monitoring and understanding your credit score rating, pay advance, budgeting, negotiating payments and extra.
  • Save cash by canceling subscriptions – most customers notice that they’ve 1 or 2 unused subscriptions as soon as they consolidate the whole lot on one web page.


  • High charges – if the platform is ready that will help you save any cash, they may cost a excessive payment of 40%. However, this may occasionally nonetheless be higher than not saving.
  • Access to delicate info – you will want to offer info comparable to your checking account and transactions to a third social gathering to make use of the platform.

Jump to: Full Review

Compare to Other Money Saving Apps


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20 million members earn on common $345 money again a 12 months (4400 retailers)

Generous cashback gives and offers – as much as 65% from a few of retailers

Get notifications of newest offers with cellular app or browser extension

How Does Rocket Money Lower Bills?

According to Rocket Moneyit is an app that “Makes it easy to optimize your spending, manage subscriptions, lower your bills, and stay on top of your financial life.

Easy cash can sound too good to be true. Can an app actually assist you save a considerable sum of money?

Rocket Money has a spread of options that every one goal that will help you get your funds so as. With solely round one third of Americans protecting a family finances, based on, it’s no marvel so many individuals are on the lookout for methods to chop again on spending.

The companies provided by Rocket Money will help you handle your funds higher with out the emotionally taxing course of of getting to totally undergo your funds. Most of us would bounce on the likelihood to get an additional $512 a 12 months, so is Rocket Money the answer that will help you get there?

Lower My Bills

With the ‘Lower My Bills’ function, Rocket Money negotiates down your payments. They have direct negotiations with a spread of service suppliers comparable to AT&T and Verizon. With this function, if they will’t get your invoice negotiated down, you don’t pay any price. However, in the event that they prevent some cash, they take 40% of the financial savings.

The function is simple to make use of. You merely join your invoice by taking a photograph or logging into your account. Their knowledgeable negotiators then begin working in your behalf. They won’t ever take away options or companies to decrease your invoice and will be sure that you get the identical service or subscription however merely for a greater fee.

Subscription Monitoring

We are all responsible of signing up for too many on-line subscriptions. In reality, according to West Monroe, 84% of Americans underestimate what they spend on subscription companies. You may need a bunch of streaming subscriptions, a number of music subscriptions, or signed up without cost trials for stuff you solely used as soon as and then forgot to cancel.

Rocket Money shines a lightweight on all these subscriptions. Like most individuals, you in all probability don’t intently monitor your checking account. Rocket Money pulls all of your subscriptions and places them in a single easy-to-review recurring prices web page. The outcomes can typically be stunning. You could must face the disagreeable actuality that you’re forking out a whole bunch of {dollars} a month for subscriptions you aren’t utilizing.

Seeing this info multi function quick-to-review location could make you’re taking inventory of your spending habits. You could change your monetary habits and tread extra cautiously sooner or later with signing up for subscription companies.

With this info, you may cancel subscriptions you don’t want, and with the premium model of Rocket Money you are able to do this from inside the app with a easy ‘Cancel service’ button.

Alternatives to Rocket Money

There are a couple of different firms on the market providing comparable companies to Rocket Money. Trim and Billshark are two of the extra fashionable ones.


Trim Summary

  • Use the app to save lots of a mean of $620
  • Savings account insured as much as $250,000
  • Relatively low charges of simply 15% charged
  • 256 bit encryption to guard your knowledge

Trim is an app with an analogous providing that prices 33% of your financial savings. While that is lower than Rocket Money, it doesn’t have entry to as many subscription companies to cancel and it won’t request financial institution payment refunds.

Here are another key variations:

  • Trim has a free service for canceling subscriptions, whereas Rocket Money requires a premium subscription
  • Trim features a debt payoff program that prices $10 per thirty days
  • Trim doesn’t have a free app for iOS or Android


Billshark Summary

  • No Savings, no fee
  • 90% success fee
  • Receive $10 per referral
  • Saving on common $300 per 12 months

Billshark is an app that helps you decrease your payments comparable to cable, web, cell service, and so forth. It prices you 40% of your financial savings. This cost is similar as Rocket Money.

How Much Does Rocket Money Cost?

Rocket Money gives a spread of companies which have totally different prices. The app is free to obtain, however there are a number of optionally available extra companies that price a payment.

Rocket Money Premium

Premium companies embody Balance Syncing, Premium Chat, Cancellations Concierge, Custom Categories, Unlimited Budgets, and Smart Savings. The premium possibility prices $35.99 a 12 months or $4.99 billed month-to-month.

Bill Negotiation

Bill negotiation is charged primarily based on the quantity that the negotiators can prevent. The success payment is 40% of the primary 12 months’s financial savings.

Outage Refunds

Occasionally, Rocket Money can get you an outage refund for when companies go down. Like invoice negotiations, they may take 40% of the refund you obtain.

Is Rocket Money Safe to Use?

Data privateness is essential, particularly when you’re letting an app entry all of your monetary info. You need to know that your info is secure and won’t be bought on or stolen. When utilizing any app that wants your private knowledge, it is best to proceed with warning.

Rocket Money understands that knowledge privateness is essential. It doesn’t promote your info to 3rd events. It additionally makes use of bank-level 256-bit encryption to maintain your knowledge secure from potential hackers.

In addition, Rocket Money makes use of Plaid to attach with monetary service establishments. This method you don’t want to provide your financial institution credentials to Rocket Money, and they can’t transfer cash or make any modifications to your account.

It makes use of Amazon Web Services for its internet hosting. This is likely one of the most safe internet hosting choices obtainable and is utilized by the Department of Defense, NASA, and the Financial Industry Regulatory Authority (FINRA).

What Does This Rocket Money Review Tell You?

With so many Americans unaware of what they’re spending on subscription companies, Rocket Money is an app that will probably be useful for a lot of. The totally different subscription choices make it simple to solely pay for the options you want – and having the app in your cellphone offers you a handy method to have a look at the place your cash is being spent.

The insights it gives you into your spending will assist you change your spending habits and construct a transparent image of the place your cash goes. From right here you may set out a extra structured plan in your monetary future and put a transparent finances in place.

The app is free to obtain, so it is value beginning with the free service and upgrading in the event you really feel it’s obligatory. As you develop into extra aware of the service and familiarize yourself with its options, chances are you’ll really feel some great benefits of having premium are value paying for, wherein case you may improve.

Rocket Money FAQ

What Is Rocket Money?

Rocket Money is an app available on iOS and Android. It helps customers determine the place they’re spending and reduce out pointless payments. For instance, you might have a Hulu subscription that you just by no means use. You signed up months in the past to observe the brand new season of The Handmaids Tale and forgot to cancel it. Now it’s taking $6 out of your account each month.

Rocket Money will flag up any recurring payments popping out of your financial institution, put them in an easy-to-monitor display screen and allow you to assess which of them to maintain and which of them to cancel. It has a bunch of different useful options, like negotiating down your payments and monitoring for outage refunds.

Syncing your checking account is simple and it doesn’t require you to provide any of your banking credentials to the app. The interface is intuitive and having your funds offered on this method will help you catch on to the place you might be steadily spending cash. Yee, your Starbucks dependancy is included! In addition, the app can ship you notifications when there’s a change in your invoice and gives you the choice to have a negotiator attempt to decrease it in your behalf.

According to Rocket Money’s founder, it has helped save a mean of $512 per 12 months, with 250,000 individuals signing up.

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