Make Money

Paid Surveys

Gig Jobs

Passive Income

Rocket Money Review 2024: Is it Safe and Free?

DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. Disclosure.

We test different ways to make money online weekly and provide real-user reviews so you can decide whether each platform is right for you to earn side money. So far, we have reviewed 600+ platforms and websites. Methodology.

Rocket Money Review

rocketmoney logo

Rocket Money is a money management app that aims to help users reduce their spending and save money. To date, the company has helped over 2 million members save over $1 million. Some of the ways that the app helps users reduce their spending include canceling unused subscriptions, negotiating your bills to lower them and more. According to the company, users can save up to $550 per year or more.



Safe & Legit


Saving Potential

Ease of Use


  • No upfront costs – you don’t need to pay upfront and only pay a fee when they help you save. Or, you can get the premium plan for $4.99 per month.
  • High potential to save money – on average, most of the platform’s users can save an average of $96 per year or more by using the platform’s tools.
  • 5+ different ways to help you save money – including tracking and understanding your credit score, pay advance, budgeting, negotiating bills and more.
  • Save money by canceling subscriptions – most users realize that they have 1 or 2 unused subscriptions once they consolidate everything on one page.


  • High fees – if the platform is able to help you save any money, they will charge a high fee of 40%. However, this may still be better than not saving.
  • Access to sensitive information – you will need to provide information such as your bank account and transactions to a 3rd party to use the platform.

Jump to: Full Review

Compare to Other Money Saving Apps


Swagbucks logo

18 ways to earn money – surveys, coupons, cashbacks + $5 sign up bonus

Up to 10% cashback from stores – Walmart, Amazon, Best Buy, JCPenney

Most members can earn an extra $50 – $200 a month using Swagbucks


Tada logo

Get $10 cash back bonus after spending $25 with any of 1000+ brands

Easy to get up to 20% cash back – simply scan your receipt and upload it

Claim your cash back by PayPal or from over 80+ gift card options


TopCashback logo

20 million members earn on average $345 cash back a year (4400 retailers)

Generous cashback offers and deals – up to 65% from some of retailers

Get notifications of latest deals with mobile app or browser extension

How Does Rocket Money Lower Bills?

According to Rocket Money, it is an app that “Makes it easy to optimize your spending, manage subscriptions, lower your bills, and stay on top of your financial life.

Easy money can sound too good to be true. Can an app really help you save a substantial amount of money?

Rocket Money has a range of features that all aim to help you get your finances in order. With only around one third of Americans keeping a household budget, according to, it’s no wonder so many people are looking for ways to cut back on spending.

The services offered by Rocket Money can help you manage your finances better without the emotionally taxing process of having to thoroughly go through your finances. Most of us would jump at the chance to get an extra $512 a year, so is Rocket Money the solution to help you get there?

Lower My Bills

With the ‘Lower My Bills’ feature, Rocket Money negotiates down your bills. They have direct negotiations with a range of service providers such as AT&T and Verizon. With this feature, if they can’t get your bill negotiated down, you don’t pay any cost. However, if they save you some money, they take 40% of the savings.

The feature is easy to use. You simply connect your bill by taking a photo or logging into your account. Their expert negotiators then start working on your behalf. They will never remove features or services to lower your bill and will ensure that you get the same service or subscription but simply for a better rate.

Subscription Monitoring

We are all guilty of signing up for too many online subscriptions. In fact, according to West Monroe, 84% of Americans underestimate what they spend on subscription services. You might have a bunch of streaming subscriptions, multiple music subscriptions, or signed up for free trials for things you only used once and then forgot to cancel.

Rocket Money shines a light on all these subscriptions. Like most people, you probably don’t closely monitor your bank account. Rocket Money pulls all your subscriptions and puts them in one easy-to-review recurring charges page. The results can sometimes be shocking. You may have to face the unpleasant reality that you are forking out hundreds of dollars a month for subscriptions you aren’t using.

Seeing this information all in one quick-to-review location can make you take stock of your spending habits. You may change your financial behavior and tread more cautiously in the future with signing up for subscription services.

With this information, you can cancel subscriptions you don’t need, and with the premium version of Rocket Money you can do this from within the app with a simple ‘Cancel service’ button.

Alternatives to Rocket Money

There are a few other companies out there offering similar services to Rocket Money. Trim and Billshark are two of the more popular ones.


Trim Summary

  • Use the app to save an average of $620
  • Savings account insured up to $250,000
  • Relatively low fees of just 15% charged
  • 256 bit encryption to protect your data

Trim is an app with a similar offering that charges 33% of your savings. While this is less than Rocket Money, it does not have access to as many subscription services to cancel and it will not request bank fee refunds.

Here are some other key differences:

  • Trim has a free service for canceling subscriptions, whereas Rocket Money requires a premium subscription
  • Trim includes a debt payoff program that costs $10 per month
  • Trim does not have a free app for iOS or Android


Billshark Summary

  • No Savings, no commission
  • 90% success rate
  • Receive $10 per referral
  • Saving on average $300 per year

Billshark is an app that helps you lower your bills such as cable, internet, cell service, etc. It charges you 40% of your savings. This charge is the same as Rocket Money.

How Much Does Rocket Money Cost?

Rocket Money offers a range of services that have different costs. The app is free to download, but there are several optional additional services that cost a fee.

Rocket Money Premium

Premium services include Balance Syncing, Premium Chat, Cancellations Concierge, Custom Categories, Unlimited Budgets, and Smart Savings. The premium option costs $35.99 a year or $4.99 billed monthly.

Bill Negotiation

Bill negotiation is charged based on the amount that the negotiators can save you. The success fee is 40% of the first year’s savings.

Outage Refunds

Occasionally, Rocket Money can get you an outage refund for when services go down. Like bill negotiations, they will take 40% of the refund you receive.

Is Rocket Money Safe to Use?

Data privacy is important, especially when you are letting an app access all your financial information. You want to know that your information is safe and will not be sold on or stolen. When using any app that needs your personal data, you should proceed with caution.

Rocket Money understands that data privacy is important. It does not sell your information to third parties. It also uses bank-level 256-bit encryption to keep your data safe from potential hackers.

In addition, Rocket Money uses Plaid to connect with financial service institutions. This way you do not need to give your bank credentials to Rocket Money, and they cannot move money or make any changes to your account.

It uses Amazon Web Services for its hosting. This is one of the most secure hosting options available and is used by the Department of Defense, NASA, and the Financial Industry Regulatory Authority (FINRA).

What Does This Rocket Money Review Tell You?

With so many Americans unaware of what they are spending on subscription services, Rocket Money is an app that will be helpful for many. The different subscription options make it easy to only pay for the features you need – and having the app on your phone gives you a convenient way to look at where your money is being spent.

The insights it will give you into your spending will help you change your spending habits and build a clear picture of where your money is going. From here you can set out a more structured plan for your financial future and put a clear budget in place.

The app is free to download, so it is worth starting with the free service and upgrading if you feel it’s necessary. As you become more familiar with the service and get to grips with its features, you may feel the advantages of having premium are worth paying for, in which case you can upgrade.

Rocket Money FAQ

What Is Rocket Money?

Rocket Money is an app available on iOS and Android. It helps users identify where they are spending and cut out unnecessary bills. For example, you may have a Hulu subscription that you never use. You signed up months ago to watch the new season of The Handmaids Tale and forgot to cancel it. Now it’s taking $6 out of your account every month.

Rocket Money will flag up any recurring bills coming out of your bank, put them in an easy-to-monitor screen and let you assess which ones to keep and which ones to cancel. It has a bunch of other helpful features, like negotiating down your bills and monitoring for outage refunds.

Syncing your bank account is easy and it doesn’t require you to give any of your banking credentials to the app. The interface is intuitive and having your finances presented in this way can help you catch on to where you are frequently spending money. Yee, your Starbucks addiction is included! In addition, the app can send you notifications when there is a change in your bill and will give you the option to have a negotiator try to lower it on your behalf.

According to Rocket Money’s founder, it has helped save an average of $512 per year, with 250,000 people signing up.

Photo of author

Kate Starr


About the author:

The content on is for informational and educational purposes only and cannot replace any professional financial advice.
Conduct your own research and seek the advice of a licensed financial advisor. Please read the full Terms of use and Privacy Policy.