What is Rocket Money and why should you sign up?

Rocket Money is a personal finance app that helps you save more, spend less, and take control of your financial life through a range of features designed to make managing your money easier than ever before. That said, because money can be such a personal topic, we understand you may have a few questions about how Rocket Money works, what it does, and how we protect your data. Read on for answers to all your questions.

What is Rocket Money?

Rocket Money is a personal finance app, available on mobile and web, that helps you manage your money, lower your bills, and even cancel unwanted subscriptions to help improve your financial life. Using features like Financial Goals, credit reports, and net worth, Rocket Money also provides insights that can improve your financial health, with you in the driver’s seat. It is available in both a free and a premium version, with a “pay what you think is fair” model so you only pay what feels right for you and your wallet – after a free trial to check it out.

The top Rocket Money features you need to know about

In addition to bill negotiation and subscription cancellation, Rocket Money includes several features designed to help you with your money. They include:

• Tracking your spending
• Developing a custom budget
• Automatic savings contributions based on your spending habits
• Monitoring your credit score and credit report
• Tracking your net worth

How much does Rocket Money cost?

Rocket Money has both a free and premium version of the app, depending on the types of features and services you’d like to take advantage of as discussed below.

Rocket Money is free to download and includes many of the features listed above such as budgeting, subscription monitoring, spend tracking, bill negotiation, and credit scores. However, for those really looking to take control of their finances, the premium version includes additional features such as subscription cancellation and full credit reports (as opposed to just your credit score), as well as the ability to create custom categories within your budget. The premium subscription uses a pay-what-you-think-is-fair pricing model, where you choose your monthly price. There is a free premium trial that lasts seven days, after which members will be charged their chosen monthly amount.

For premium members looking to cancel unwanted subscriptions, Rocket Money’s team of experts can do this for you. First, by analyzing your expenses, Rocket Money will identify all your recurring subscriptions so you can select any you may want to remove. Then, either when prompted or while on the Recurring tab, simply click the three dots next to the subscription and select “Cancel [Service].” The Rocket Money team will then take it from there!

For those interested in getting better rates on bills like phone or internet, Rocket Money handles this too, saving users time and money – in some cases, thousands of dollars per year. First, after scanning your bills, Rocket Money will notify you which services may be eligible for a lower rate. Then, if you indicate you’re interested in lowering your bill, our team of expert negotiators will negotiate with the service provider on your behalf. If successful, Rocket Money will charge you a small portion of your first-year savings, usually 35–60%. In the unlikely event our team is unsuccessful, you won’t be charged for that negotiation.

Why should you use Rocket Money?

Even if you’ve never enjoyed looking at your finances before, Rocket Money can help by not only providing you with information about your spending, but also by giving you insights and tools you need. These tools can then help you make powerful decisions about your financial future.

You can save money

At its core, Rocket Money is all about saving you money. In addition to our ability to cancel unwanted subscriptions and lower your bills, we also provide insights so you can catch duplicate charges, identify potentially fraudulent activity, and get a category-based view of your spending to adjust as needed on your financial journey.

Set money aside automatically with Rocket Money's Financial Goals feature

Set up Financial Goals to automate your savings journey directly through the Rocket Money app. Choose between two flexible savings methods: Smart Savings autopilot or Custom Savings with full control.

With Smart Savings autopilot, Rocket Money analyzes your checking account balance and spending patterns to automatically transfer small amounts every 1-3 business days, building your emergency fund, vacation savings, or down payment without you lifting a finger. It's like having a personal savings assistant that knows exactly when you can afford to save.

If you prefer to have more control, Custom Savings lets you set specific deposit amounts and frequencies to match your savings timeline. Whether you're saving $1,000 for a summer trip or building long-term wealth, you decide how much and how often to save.

Top Financial Goals features:

• Automatic deposits that skip when your balance is low

• Manual deposits up to $1,500 daily ($250 per transfer)

• Instant access to withdraw settled funds (1-2 business days to return)

• Pause automatic savings anytime without canceling pending deposits

• Switch between savings methods whenever your needs change

Start building your financial future today, whether it's an emergency fund, dream vacation, or major purchase. Rocket Money makes saving money effortless and achievable.

Take control of your budget without the spreadsheets

Gone are the days of complicated spreadsheets and manual calculations. Rocket Money makes budgeting simple by automatically tracking and organizing your expenses, helping you create a personalized budget that actually works for your lifestyle.

With Rocket Money's budgeting features, you can set up custom categories that match your spending habits, whether that's separating your morning coffee runs from groceries or creating a dedicated gaming budget for your hobby. The app learns from your preferences through transaction rules, automatically categorizing purchases the way you want them organized.

To give you the most accurate picture of your spending, Rocket Money automatically ignores transfers between your own accounts, credit card payments, and reimbursements. This means you're seeing your true spending, not inflated numbers from moving money around. Plus, you can set custom spending limits for each category and receive reminder alerts when you're approaching them, perfect for staying on track during those seasonal sales or when new releases tempt your wallet.

Know exactly where your money goes with Rocket Money’s spending tracking

Do you ever wonder where all your money goes each month? Rocket Money's spending tracking features give you complete visibility into your financial habits by pulling transactions from all your linked accounts and organizing them automatically.

The app doesn't just track your spending – it helps you understand it. View your spending patterns over different time intervals including weekly, monthly, quarterly, and yearly views, making it easy to spot trends and compare your progress over time. Clear graphs and visuals show you at a glance how your spending compares to your income, eliminating the need to decode complicated spreadsheets.

Rocket Money keeps you informed in real-time with smart notifications that alert you when you're approaching budget limits or when large purchases are detected. These gentle reminders help you stay mindful of your spending without constantly checking the app. Whether you're on a thrifting spree with friends or trying to cut back on dining out, you'll always know exactly where you stand with your budget.

Improve your credit score

Rocket Money’s credit score and credit report feature provides you with the information you need to improve and monitor your credit to make sure you get the best offer on a loan or credit card moving forward. This is important because having strong credit can help you secure a better offer or lower interest rate, saving you money over time. While Rocket Money uses Experian^® to get your credit report information, our interface is designed to be more user-friendly than the reports you might get from any of the three credit bureaus, complete with insights to help improve your credit.

Track your net worth

Rocket Money’s net worth feature gives you a full financial picture of all your assets (everything you own of value) and all your liabilities, including any debts you owe. Together, this gives you a way to track the direction of your financial health over time. Contrary to what some people may believe, it’s not just for the rich and famous – everyone has a net worth. Regardless of whether yours is positive or negative now, the important part is that your net worth goes up over time. Using Rocket Money, you can easily see the direction yours is headed. You can even add custom assets like jewelry, a collector’s item, or a sneaker collection.

How to start using Rocket Money

You can sign up for Rocket Money using the following steps:

• Create a Rocket Account that you’ll use to sign into the app or web version of Rocket Money.
• Choose your goals: During the sign-up flow, we’ll ask you questions to understand what matters to you in your financial life. Things like, “Why did you sign up for Rocket Money?”, “What are your financial goals?”, and “How did you find us?”
• Link an account: For Rocket Money to be useful, you’ll want to link at least one bank account – but ideally, the more the merrier! The more information you provide us, the better we’ll be able to give you valuable insights so you can save money and improve your financial life.
• A quick analysis: After you link your first account, we’ll run a quick analysis to identify any subscriptions and savings opportunities right away. From there, the choice is yours!
• Pretty easy, right? Once you’re in the app, you’ll be able to view your spending, set up a budget, start a Financial Goals account, or use any other feature that might be useful to you.

Is Rocket Money safe?

Rocket Money’s #1 priority is the security and privacy of our members. Accordingly, we follow the most up-to-date industry protocols to store your data, including bank-level 256-bit encryption.

Rocket Money uses a third-party technology, Plaid, to securely gather your financial data from institutions you select. During the process, you’ll be asked to enter your banking credentials, but this information never touches our servers, nor is it stored by Rocket Money. Our app is trusted by over 10 million members, so you can rest assured that your privacy is our top priority.

The bottom line

It can be difficult to track all your finances when money touches so many parts of your life. Luckily, Rocket Money is here to give you a full financial picture. Download Rocket Money today to save more, spend less, and gain access to the tools you need to improve your financial life.