Rocket Money Review: Legit Budgeting App or Overhyped Subscription Tracker?

Rocket Money (formerly Truebill) is one of the most popular budgeting apps and subscription trackers in the U.S., known for helping users track spending, cancel subscriptions, and reduce recurring expenses.

After the shutdown of Mint, many users turned to Rocket Money’s app for a more automated way to manage their money. It offers features like subscription detection, cancellation concierge, bill negotiation services, and smart savings tools, all within a clean mobile interface.

Rocket Money (formerly Truebill) is one of the most popular budgeting apps and subscription trackers in the U.S., known for helping users track spending, cancel subscriptions, and reduce recurring expenses.

After the shutdown of Mint, many users turned to Rocket Money’s app for a more automated way to manage their money. It offers features like subscription detection, cancellation concierge, bill negotiation services, and smart savings tools, all within a clean mobile interface.

Rocket Money was originally launched as Truebill and acquired by Rocket Companies in 2021 for $1.1 billion. It was later rebranded as Rocket Money to align with Rocket’s broader suite of financial services, which includes Rocket Mortgage, Rocket Loans, and the Rocket Visa Card.

In a time when subscription models and free trials are everywhere, it’s easy to lose track of what you’re paying for. Apps like Rocket Money aim to relieve that overwhelm and help users stay on top of their personal finances.

In this Rocket Money review, we’ll cover:

• How the Rocket Money app works

• Whether Rocket Money is safe to use

• Who it’s best for

• What features you get on the free vs. premium plan

• How it compares to alternatives like YNAB or Monarch Money
  
  

What Is Rocket Money?

Rocket Money is a personal finance app built to help users manage subscriptions, control spending habits, and reach their financial goals.

Rocket Money allows you to connect your bank accounts and credit cards, and uses bank-level encryption to analyze your transactions and automatically identify:

• Recurring charges and bills

• Monthly and Annual Subscription payments

• Opportunities to cut costs or cancel services

Rocket Money also offers users a bill negotiation service to help reduce monthly expenses and a smart savings account. It is one of the most renowned tools in the money management space.

No more paying for that random health-app subscription you’re leaking money to every month without realising.

Rocket Money at a Glance

How the Rocket Money App Works

Rocket Money works by linking your bank and credit card accounts using secure, read-only access through a provider such as Plaid. It scans your transactions to:

• Detect subscriptions and recurring payments

• Flag increases in bills

• Send alerts for upcoming charges or free trials

• Suggest services you may want to cancel

This easy automation and features is what makes it one of the most hands-off ways to track your spending and stay on top of financial commitments.

Rocket Money Cost & Free Version Features

Key Features of Rocket Money

Subscription Detection

By linking your banks through plaid, Rocket Money automatically detects, lists and tracks recurring charges, such as streaming subscriptions, bills or forgotten app trials.

Cancellation Concierge

With Premium, you can ask Rocket Money to cancel subscriptions for you. This includes services that are typically hard to cancel manually. Keep in mind, this does not work for all services and may take a bit of time.

Bill Negotiation Service

Rocket Money will try to lower your bills (like phone or internet). If successful, they take a percentage of the savings, typically 40%. They do this through an internal concierge that contacts and negotiates with your provider on your behalf. 

Budgeting & Spending Insights

Includes a budgeting dashboard, custom spending categories, and visualizations to help you to better understand your habits and build new ones.

Smart Savings & Financial Goals

You can set savings rules and automatically move money into a smart savings account (For Rocket premium members), helping you stay on track with your money goals.

Credit Score Monitoring

Track your credit score inside the app (US only) to stay aware of your broader financial health. This helps to keep everything in one place.

Widgets 

Rocket Money includes simple widgets right on your phone home screen that give you a snapshot of your finances at a glance. These include:

• Monthly spending breakdown

• Upcoming bills & subscriptions

• Savings goals progress

• Credit score overview

Connected Services from Rocket Companies

Rocket Money is part of Rocket Companies, a larger financial ecosystem that includes mortgage, credit, and loan products. While not all services are directly integrated into the app, they reflect Rocket’s broader goal of helping users manage money across multiple areas of life.

Some of the tools and features linked to the Rocket ecosystem include:

• Rocket Visa Signature Card
  A branded credit card designed to help you manage everyday spending and potentially earn rewards. While currently not accepting new applicants, this card is a part of Rocket’s broader personal finance strategy.
  
  

• Rocket Mortgage
  One of the largest mortgage lenders in the US, Rocket Mortgage offers home financing and refinancing options. While not tied directly into Rocket Money, existing customers may see relevant insights or promotions.
  
  

• Rocket Loans
  Personal loans offered through Rocket Companies, which may show up as integrated offers if Rocket Money detects eligibility or financial behavior indicating potential interest.

These tools aren’t central to the Rocket Money app experience, but being part of Rocket Companies means users may encounter optional services across mortgages, loans, or cards, sometimes personalized based on your financial goalsand spending habits.

Is Rocket Money Safe to Use?

Yes, Rocket Money is safe. The app uses bank-level encryption and read-only access through a service provider such as Plaid, meaning it can’t move or withdraw funds and does not have access to your bank details. 

However, Rocket Money is owned by Rocket Companies (the parent company of Rocket Mortgage), and while the app doesn’t sell your data, some info may be used across their ecosystem. If you’re highly privacy-sensitive, keep this in mind before connecting your accounts.

Pros and Cons

Rocket Money Reviews and Ratings

What Users Say

• Many users say Rocket Money helped them cancel subscriptions they forgot about.

• The cancellation concierge is a hit-or-miss, some users love it, others say it’s slow.

• Apple App Store rating: 4.7 stars

• Some customer reviews mention inaccurate subscription detection with certain banks.

Reddit + Community Sentiment

• Generally positive, especially for people transitioning from Mint

• Common suggestions include more customization and better support for international banks/users.

Who Should Not Use Rocket Money

Rocket Money might not be right for you if:

• You live outside the U.S.

• You want a tool that supports manual tracking with no bank sync or more flexibility on populating the data.

• You need business or SAAS focused subscription management, it’s more suited for personal use.

• You want guaranteed, instant cancellations. These aren’t possible currently as every merchant is different.

• You’re extremely privacy-focused and don’t want any account linking.

• You want a more comprehensive budgeting tool to manage your finances, you might be better off with an app like Monarch money or YNAB.
  
  

  If Rocket Money is not right for you, consider other Rocket Money alternatives.

Rocket Money Review Verdict: Is It Worth It?

Rocket Money is one of the best entry-level budgeting apps for Americans who want to get control of their recurring expenses. It’s easy to use, and the free version alone is enough for most users who just want to track spending and cancel forgotten subscriptions.

The Premium plan adds real value if you want done-for-you help and fintech-like smart savings tools, but it’s not essential if you’re hands-on with your budget already.

Verdict:

Great for: Beginners, automation lovers, people switching from Mint

Not for: International users, manual trackers, business finance workflows

Alternatives to Rocket Money

If Rocket Money doesn’t meet your needs, you may want to explore:

Similar apps in the US market

• Hiatus: Similar subscription and cancellation features but simpler mobile tracking.

• Trim: If you want additional negotiation tools, views of alternative services and don’t mind a web-only experience.

More full-scope budgeting apps

• YNAB: If you want deep, manual control over every dollar

• Monarch Money: For premium budgeting across multiple accounts and whole household

Strong upcoming next-gen alternative 

• Orbit Money: Better subscription and free-trial tracking adding options such as email connect, and AI features to help you save more with less effort or manual work.

Want a full side-by-side comparison?

Check out our guide to the best subscription trackers in 2026 for a deeper comparison between top subscription management apps or learn about what features to look for.

Rocket Money FAQs

Is Rocket Money legit?

Yes, Rocket Money is a legitimate personal finance and budgeting app backed by Rocket Companies, a well-known financial group in the US It’s trusted by millions of users and has consistently high ratings on the Apple App Store and Google Play.

Does Rocket Money actually cancel subscriptions?

Rocket Money’s concierge service can submit cancellation requests on your behalf. While it works for many common subscriptions, it’s not guaranteed for all services, and some cancellations may take several days to process.

Is Rocket Money really free?

Yes, Rocket Money has a free version that includes subscription detection, budgeting tools, and spending insights. However, features like cancellation concierge, bill negotiation, and Smart Savings require a Premium plan, which ranges from $6 to $12 per month, based on what you choose to pay.

How does Rocket Money make money?

Although Rocket Money keeps it base tracking free, it generates revenue through:

• Premium subscriptions for additional feature unlocks

• Bill negotiation success fees (40%)

• Affiliate partnerships via other it’s other services under Rocket Companies (e.g., Rocket Loans, Rocket Mortgage, and the Rocket Visa Signature Card)

Does Rocket Money work in Australia?

No, Rocket Money only supports US-based users and financial institutions. It does not currently work with Australian banks or cards. If you’re in Australia, consider alternatives like:

• TrackMySubs (manual but business-friendly)

• Emma App (supports some AU banks via Open Banking, but limited)

• Frollo (Australian native money-app)

• Orbit Money (waitlist available, will focus on supporting the Australia market)

Is Rocket Money actually any good?

Rocket Money is a strong option if you’re in the US and want a hands-off budgeting and subscription tracking app. It’s especially good for:

• Beginners who want automation

• People who often forget about subscriptions

• Users looking to cut costs with minimal effort

However, if you want international support, business features, or manual control, there may be better alternatives depending on your needs.