Rocket Money (rocketmoney.com), previously Truebill, makes it easy for you to take control of your finances and improve your financial health by helping you identify and cancel unwanted subscriptions, lower your bills and get you refunds on fees and outages.
And that’s just the tip of the iceberg. The app aims to be your financial control center, a platform to manage all aspects of your financial life, with budgeting tools, automated savings and more. Let’s take a closer look at Rocket Money and all they have to offer below.
Rocket Money Features
Rocket Money is a mobile app that helps you manage your subscriptions and monthly bills. After signing up for an account, you’ll need to take a few minutes to link your bank accounts and credit cards. With access to this information, Rocket Money will find your scheduled, automated bill payments. You’ll then get to decide whether or not you want to continue paying for the services. Rocket Money will contact the bill provider for unwanted services and cancel the subscription on your behalf. The app also features bill negotiation, savings on electricity and outage monitoring.
On top of their “free” services, Rocket Money provides paid Premium features ($3 to $12/month) like automated cancellations, syncing your balance, custom spending categories, automated savings, and refunds on overdrafts and late fees.
Rocket Money Pricing
Rocket Money takes a 40% “savings fee.” That means if they save you $100, they’ll take a $40 cut. If they can’t negotiate any savings, you pay nothing. This fee is charged once Rocket Money has secured your savings, and it applies to one-year’s worth. So if they save you $500 annually, they’ll take $200.
As we mentioned before, Premium services will cost an additional $3 to $12 per month.
Bottom Line
If you’re too busy to monitor things like subscriptions and service outages, Rocket Money could be worth it. The app will help you optimize your savings, as well as review and manage your finances, all with minimal effort on your part.
However, Rocket Money isn’t the only app that offers bill cancellation and negotiation services. Billshark charges the same 40% negotiation fee, but they’re also offering a coupon bonus for every valid bill you submit, as well as a free Amazon gift card drawing every day.
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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