In 2025, Rocket Money continues to stand as one of the leading budgeting apps on the market, offering a variety of features aimed at helping users manage their personal finances. Whether you’re trying to save money, track your spending, or simply gain a better understanding of your financial habits, Rocket Money promises to simplify these tasks. But with so many budgeting apps out there, is Rocket Money worth the investment or just another overhyped financial tool? In this review, we’ll break down the key features, pros, cons, and everything you need to know before deciding if Rocket Money is legit or a scam.
What Is Rocket Money?
Rocket Money, formerly known as Truebill, is a budgeting and personal finance app designed to help users track their spending, manage subscriptions, and save money by negotiating lower bills. Available both as a mobile app and through the web, Rocket Money has gained popularity due to its user-friendly interface and wide range of helpful features.
In this review, we’ll cover everything from the app’s core functionalities to the advantages and drawbacks, and whether or not it’s the right fit for your financial goals.
Key Features of Rocket Money
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Fee-Free Option Rocket Money offers a free version that allows users to manage their finances without incurring any costs. The free version includes features like tracking spending, viewing recurring bills, and categorizing transactions. While the free version has its limitations, it’s an excellent starting point for users just beginning to track their finances.
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Dashboard Overview The Rocket Money dashboard provides a simple yet effective overview of your finances. It shows your spending for the current month, a comparison of your spending habits from last month, and an easy-to-read pie chart to track your budget. Additionally, it displays the balances of linked accounts and recent transactions.
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Subscription Management and Bill Negotiation One of Rocket Money’s standout features is its ability to find recurring subscriptions and bills, like streaming services, gym memberships, and utility payments. Rocket Money can cancel unwanted subscriptions or lower your monthly bills by negotiating with service providers on your behalf. It’s a convenient feature for people who want to minimize unnecessary expenses, especially when dealing with bills you might have forgotten about.
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Customizable Budgeting Users can set a budget for different spending categories such as groceries, dining, or transportation. In the free version, you’re allowed to track five categories. For those who want to track more, Rocket Money offers a premium version with unlimited categories and more in-depth customization options.
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Bill Calendar Rocket Money’s bill calendar is an incredibly helpful tool, showing upcoming bills due within the next seven days and beyond. This feature helps you stay organized and ensures you never miss a payment, reducing the risk of late fees.
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Transaction Categorization Rocket Money automatically imports and categorizes transactions for you. It supports about 30 different categories, and users can manually add transactions if they want. If you want to further customize your categories, you’ll need to upgrade to the premium version.
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Credit Score Tracking For premium users, Rocket Money provides access to credit score tracking directly within the app. This feature is useful for those trying to keep an eye on their credit health and make informed decisions about loans and credit cards.
Pros of Rocket Money
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Free Option Available The free version is one of the most appealing aspects of Rocket Money. Many other apps in the budgeting category have limited free features, but Rocket Money offers a solid range of tools at no cost. The ability to track your spending, view recurring bills, and get an overview of your financial picture makes it a great entry-level option.
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User-Friendly Interface Rocket Money’s simple and intuitive interface ensures that users of all financial literacy levels can easily navigate the app. It’s easy to connect accounts, categorize transactions, and get a sense of where your money is going.
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Bill Negotiation The feature that sets Rocket Money apart from many other budgeting apps is its ability to negotiate lower bills on your behalf. This is a great service for people who are busy or unsure how to contact service providers and ask for discounts.
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Subscription Management Rocket Money makes it easy to track and cancel unwanted subscriptions. This feature alone can save users a significant amount of money, as many people forget about their recurring charges until it’s too late.
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Customizable Categories (Premium) If you opt for the premium version, the ability to customize your categories is a useful feature. It allows you to budget for unique expenses and track your spending more effectively.
Cons of Rocket Money
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Limited Features in the Free Version While the free version of Rocket Money is great for tracking your spending, it’s limited when it comes to more advanced budgeting options. Users are restricted to only five categories, which may not be enough for those with more complex budgeting needs.
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Fees for Premium Services The premium version of Rocket Money comes with a monthly fee. While the app uses a sliding scale for pricing, ranging from $6 to $12 per month, this cost may deter some users from fully exploring the app’s premium features.
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Customer Service Issues Customer service has been a consistent complaint among users. Many people report having to deal with unhelpful chatbot responses or delayed responses from support agents. This can be frustrating, especially when dealing with urgent financial matters.
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Subscription Cancellations Not Always Effective While Rocket Money claims to help cancel subscriptions for you, some users have reported that the app is unable to do so for all types of subscriptions. In such cases, users are provided with instructions and phone numbers to cancel subscriptions themselves, but this can be inconvenient.
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Limited Web Features Although Rocket Money is available on both the web and app, the web version lacks some features, such as the ability to manually add recurring bills. Users who prefer to manage their finances on a computer may find the app version more appealing.
Is Rocket Money Legit or a Scam?
Rocket Money is a legitimate budgeting and financial management app that offers valuable services such as subscription management, bill negotiation, and expense tracking. However, as with any financial tool, there are pros and cons to consider.
The free version is helpful for basic budgeting, but if you’re looking for more customization and advanced features, the premium version is necessary. The billing system for premium services is transparent, with no hidden fees, but users should be aware of the costs associated with the app’s negotiation service.
The customer service challenges and limited features on the web version are drawbacks, but overall, Rocket Money is a solid choice for users looking to manage their finances in an easy-to-use app.
Conclusion
In conclusion, Rocket Money is not a scam, but it’s essential to consider both the free and premium features before deciding whether it’s the right tool for your financial needs. It’s an excellent option for those who want to track spending, manage subscriptions, and negotiate bills, especially with its user-friendly interface and useful features. However, if you need more in-depth customization or prefer a desktop experience, there may be other budgeting apps that suit your needs better.
If you’re looking for a way to organize your finances in 2025, Rocket Money is definitely worth considering.
