Rocket Money

What Is Rocket Money?

Rocket Money — formerly known as Truebill — is a personal finance app that helps you manage subscriptions, negotiate bills, and track your spending. It connects to your bank accounts and credit cards to give you a full picture of where your money goes each month.

The app’s headline feature is bill negotiation: Rocket Money’s team will call your service providers (internet, phone, insurance, etc.) and negotiate lower rates on your behalf. They also scan your transactions to find subscriptions you might have forgotten about and help you cancel them.

Debt tracking is part of the package, but it’s not the star of the show. You can see your debt balances, track them over time, and include debt payments in your budget — but you won’t find dedicated payoff strategy tools here.

The app was acquired by Rocket Companies (the parent of Rocket Mortgage) in 2022, which gives it substantial corporate backing and resources.

Who Is Rocket Money Best For?

People with subscription creep. If you’ve signed up for streaming services, gym memberships, software trials, and other recurring charges over the years, Rocket Money is great at finding the ones you’ve forgotten. Many users discover $50-200/month in subscriptions they weren’t actively using — money that could go toward debt instead.

People overpaying on bills. The bill negotiation service is genuinely useful. If you haven’t called your cable company or insurance provider in years, there’s a good chance Rocket Money can get you a lower rate. They handle the phone call, which is the part most of us dread.

Big-picture financial trackers. If you want one app that shows your spending, subscriptions, debts, and net worth in a single dashboard, Rocket Money does that well. The interface is polished and the bank syncing works reliably.

People who need help freeing up cash for debt payments. This is where Rocket Money shines indirectly. It might not calculate your optimal payoff strategy, but it can help you find the money to make bigger payments.

Pricing

Rocket Money offers a limited free tier, but most of the useful features — including bill negotiation, custom budgets, and smart savings — require a Premium subscription. Premium pricing starts at around $4/month (billed annually) and goes up to $12/month depending on what you choose to pay (they use a pick-your-price model for some plans).

For bill negotiation specifically, Rocket Money takes 30-40% of your first year of savings. So if they save you $600/year on a bill, they keep $180-$240. After the first year, you keep the full savings.

Our Take

Rocket Money is a really good personal finance app. The subscription tracking and bill negotiation features are genuinely valuable, and the overall experience is polished. If you’re looking for a financial command center that includes debt awareness, it delivers.

But here’s the thing: if your primary goal is paying off debt faster, Rocket Money isn’t the right tool. It doesn’t offer snowball or avalanche strategies. It doesn’t generate payoff schedules or compare approaches. It shows you your debt balances and lets you track them — that’s it.

Think of Rocket Money as a complement to a dedicated debt payoff app, not a replacement for one. Use Rocket Money to cut your bills and cancel unused subscriptions, then put that freed-up money toward the payoff plan you’ve built in a debt-focused tool.

The bill negotiation fee structure is worth understanding before you sign up. That 30-40% cut of first-year savings is their business model, and it’s fair for the service provided — but it means a chunk of your savings goes to Rocket Money, not your debt, at least in year one.