Rocket Money is a personal finance app designed to help users manage their finances by tracking spending, creating budgets, monitoring credit scores, and cancelling subscriptions. It aims to provide a comprehensive view of a user's financial life in one dashboard. Rocket Money is developed by Rocket Money, Inc. which is under Rocket Companies.
Key features of Rocket Money include linking financial accounts for automatic transaction tracking, subscription management, bill negotiation, and goal setting. The app has both free and premium versions. The free version offers basic account linking, balance alerts, and spending insights. The premium version, with a "pay what you think is fair" model, unlocks advanced budgeting tools, subscription cancellation assistance, credit score monitoring, and net worth tracking. The premium subscription typically costs between $7 and $14 per month, although this range is subject to change. Rocket Money also offers a bill negotiation service to lower bills. If successful, Rocket Money charges 35% to 60% of the first year's savings.
Rocket Money is available on iOS, Android, and web platforms. It employs bank-level 256-bit encryption and partners with Plaid for secure account linking. Rocket Money also offers a Smart Savings account through NBKC Bank, which is FDIC-insured.
