Rocket Money, formerly known as Truebill, is a popular personal finance app designed to help users manage their money effectively. But how much does Rocket Money app cost? This article breaks down the pricing structure, features, and benefits of Rocket Money to help you decide if it’s the right budgeting tool for you.
Rocket Money interface showing budgeting tools.
Rocket Money Pricing: Free vs. Premium
Rocket Money offers two tiers: a free version and a premium subscription.
Free Version: The free version provides basic budgeting functionalities, such as expense tracking, linking bank accounts, and viewing your credit score. While limited, it can be sufficient for users who primarily need a simple expense tracking tool.
Premium Version: The premium version unlocks a wider range of features, including:
- Custom Budget Categories: Tailor categories to your specific spending habits.
- Automated Savings: Set savings goals and automate transfers to a dedicated savings account.
- Credit Report & Net Worth Tracking: Monitor your credit health and overall net worth.
- Bill Negotiation: Rocket Money will negotiate lower bills with service providers on your behalf.
- Subscription Cancellation: Easily identify and cancel unwanted subscriptions.
The cost of Rocket Money Premium is unique: you choose how much to pay between $6 and $12 per month. Regardless of the price you select, you receive access to all premium features.
How Rocket Money Works
Rocket Money connects to your bank accounts and credit cards to provide a comprehensive overview of your finances. It automatically categorizes transactions, allowing you to track spending patterns and identify areas for potential savings. The app also offers personalized insights and recommendations based on your financial data.
Example of the Rocket Money app interface on a mobile device.
Benefits of Using Rocket Money
- Affordable: Even the premium version offers flexible pricing, making it accessible to most budgets.
- User-Friendly Interface: The app is designed for ease of use, with a clean and intuitive interface.
- Comprehensive Features: From basic budgeting to bill negotiation, Rocket Money provides a wide range of tools.
- Proactive Savings: Features like automated savings and subscription cancellation help you proactively manage your money.
- Financial Awareness: Gain a deeper understanding of your spending habits and overall financial health.
Is Rocket Money Worth the Cost?
Whether Rocket Money is worth the cost depends on your individual needs and financial goals. If you require more than basic expense tracking and are looking for assistance with savings, bill negotiation, or subscription management, the premium version offers excellent value for its price. The flexible pricing model allows you to choose a payment that aligns with your budget.
Rocket Money Alternatives
While Rocket Money is a comprehensive budgeting app, it’s not the only option available. Alternatives like Mint, YNAB (You Need a Budget), and Personal Capital offer similar features and may be better suited for specific needs.
Conclusion
Rocket Money provides a robust platform for managing personal finances. With its flexible pricing model for the premium version, ranging from $6 to $12 per month, and a comprehensive suite of features, it’s a viable option for individuals seeking to gain control of their spending, savings, and overall financial well-being. Consider your budgeting needs and explore the free trial to determine if Rocket Money is the right fit for you.
