With so many subscriptions and month-to-month payments today, it may be overwhelming to remain on prime of every part. And, subsequent factor you already know, you are by chance paying for a streaming service or on-line journal subscription you barely use.
Apps like Rocket Cash (previously referred to as Truebill) had been created to assist clear up this downside. This budgeting and invoice administration app consolidates all of your month-to-month bills in a single place that will help you observe your spending. And it even has a invoice negotiation service that may get monetary savings on month-to-month bills like your telephone and web plans.
However Rocket Cash prices cash if you need most of its options. And in our opinion, there are some higher, free options on the market. That is why our Rocket Cash evaluate is overlaying the professionals and cons of this app and the best way to determine if it is value utilizing.
Rocket Cash Evaluation
Charges – 6
Ease-of-Use – 7
Budgeting Instruments – 6
Buyer Service – 7
Worth For Cash – 4
6
Complete
Rocket Cash is a invoice administration and budgeting app that helps its customers keep on prime of their month-to-month spending. It makes use of a freemium mannequin, so that you get some primary budgeting and subscription administration companies without cost. However you need to pay for invoice negotation, extra finances customization, and a number of other different options.
Get Began With Rocket Cash
Professionals & Cons
execs
- Organizes all of your month-to-month payments and subscriptions in a single central dashboard
- Observe your internet value over time
- Monitor month-to-month spending habits so you already know the place you are overspending
cons
- You must pay for Rocket Cash Premium to unlock most options
- You pay for profitable invoice negotiations even after paying your month-to-month membership price
- Canceling Rocket Cash Premium takes a number of steps
- No real-time account syncing without cost members
What Is Rocket Cash ?
Rocket Cash is a budgeting and invoice negotiation app that was based in 2015. This mobile-based platform helps you monitor your month-to-month payments and spending habits so you do not overspend. And Premium members get perks like its invoice negotiation service and subscription cancellations, probably saving you cash on payments you are overpaying for or do not want.
In line with its web site, Rocket Cash has saved its 3.4+ million members over $245 million since its inception. The app has additionally helped cancel $155+ million in unused subscription charges for much more financial savings.
How Does Rocket Cash Work?
As an “all-in-one” private finance app, Rocket Cash has quite a few options that will help you observe your spending and scale back spending as nicely.
To get began, you join your varied financial institution accounts to Rocket Cash so it will probably monitor your transactions and aid you finances. That is additionally how the app tracks your month-to-month subscriptions so you already know precisely what you are paying for.
Subscription Administration
One in all Rocket Cash principal free options is its subscription monitoring service. When you join your financial institution accounts to the app, it identifies subscriptions and organizes them below a listing of recurring payments. These subscriptions can embody something out of your gymnasium membership to a Netflix or Hulu subscription.
Since all of your subscriptions are organized on one tab, you already know precisely what you are spending every month, so unused subscriptions do not slip via the cracks.
Premium Rocket Cash members also can ask its concierge staff to cancel subscriptions for them. In line with its web site, Rocket Cash cancelled over a million subscriptions for its members to this point. However nothing stops free clients from doing the cancellations themselves to save lots of more cash.
Invoice Negotiation
One other premium Rocket Cash characteristic is its invoice negotiation service. Rocket Cash works with most main cellphone, cable, and residential safety suppliers, and it will probably contact these suppliers to barter decrease charges in your behalf. The corporate says it is profitable in negotiating payments as much as 85% of the time, and all the course of takes 4 steps:
- Select a invoice: Choose the invoice you need Rocket Cash to barter.
- Join your invoice: Add your invoice to your Rocket Cash account by getting into your login credentials or importing a photograph of your month-to-month billing assertion.
- Enter negotiation preferences: This consists of private info and should you’re keen to drop options or not to economize.
- Affirm fee methodology and quantity: Rocket Cash prices 30% to 60% in annual financial savings if it lowers your invoice. You select how a lot you wish to pay and will pay this success price with any debit or bank card.
The fee bit for invoice negotiations is the place Rocket Cash will get a bit complicated. Primarily, Rocket Cash prices you 30% to 60% of your annual financial savings in an upfront price. For instance, if Rocket Cash lowers your AT&T web service from $80 to $60 per thirty days, that is $240 in annual financial savings. From there, you pay 30% to 60% of the annual financial savings as successful price ($72 to $144 on this case). That is an upfront price, however you then profit from decrease month-to-month payments and get monetary savings over the course of the 12 months.
Budgeting Instruments & Spending Insights
Subscription and invoice administration are Rocket Cash’s two principal options and what make the app distinctive. However it additionally has instruments that will help you observe your spending. The spending insights tab highlights your month-to-month spending, earnings, what number of payments you need to pay, and the way a lot discretionary spending you will have left.
You additionally get budgeting instruments which might be considerably just like apps like Mint and YNAB. After you join your financial institution accounts, Rocket Cash robotically categorizes bills and highlights your spending patterns so you already know which classes you could be overspending on. This could possibly be your leisure finances, or perhaps you are spending barely an excessive amount of on groceries every month. To assist out, Rocket Cash additionally creates “spending allowances” you’ll be able to comply with to keep away from overspending.
There’s even a internet value monitoring element the place the app breaks down your main belongings and liabilities. You’ll be able to add belongings and liabilities manually as nicely, so it is similar to companies like Empower and Kubera.
Total, Rocket Cash strives to be an “all-in-one” private finance app with what number of options it packs in. Simply notice that the free model of Rocket Cash does not allow you to create limitless budgets or customized budgets classes, that are two downsides. That is the primary cause we advise Mint over Rocket Cash or varied Mint options should you simply need assist budgeting.
Different Rocket Cash Premium Options
You get subscription administration and a few primary budgeting options should you use the free model of Rocket Cash. However if you wish to use its invoice negotiation or unlock the app’s full potential, you might want to pay for Premium.
The extra perks Rocket Cash Premium members get embody:
- Sensible Financial savings Accounts: Let Rocket Cash robotically transfer cash right into a financial savings account utilizing AI so it slowly helps you’re employed in direction of your financial savings targets, equally to microsavings apps.
- Limitless Budgets: Create as many family budgets as you need and customise finances classes so you are not caught with default ones.
- Actual-Time Stability Syncing: Free members get every day or weekly syncing for varied account balances they hyperlink to the app, however Premium members get real-time steadiness updates.
- Credit score Monitoring: You’ll be able to view your credit score rating without cost and likewise get real-time updates on in case your credit score rating adjustments.
- Premium Buyer Assist: Take pleasure in precedence help and use Rocket Cash dwell chat to get in contact with buyer help brokers.
- Free Refunds: Via its concierge service, Rocket Cash makes an attempt to get refunds in your behalf, like should you pay overdraft charges or late charges.
- Truecard: This bank card from Rocket Cash is at the moment utilizing a waitlist to simply accept new members. However the card is designed that will help you enhance your credit score rating by preserving low credit score utilization and sustaining on-time funds. Sooner or later, cardholders also can earn cash-back rewards at choose retailers.
Most individuals most likely pay for Rocket Cash Premium for its invoice negotiation service and to get extra in-depth budgeting instruments. However you’ll be able to at all times name your service suppliers your self to ask for decrease charges; Rocket Cash does not do something otherwise besides learn off a script to ask for a greater deal. And free budgeting apps like Mint are there as nicely for the monetary administration facet of issues.
How A lot Does Rocket Cash Value?
Rocket Cash Premium prices between $3 and $12 per thirty days, and also you choose how a lot you pay per thirty days with its “pay-what-is-fair” mannequin. If you choose $3 or $4, you pay yearly, whereas different quantities cost you month-to-month. Because of this Rocket Cash Premium prices as little as $36 per 12 months and as a lot as $144 per 12 months relying on how beneficiant you feel.
You additionally pay between 30% to 60% for profitable invoice negotiations. As soon as once more, you determine how a lot you wish to pay.
There’s the free model of the app, however in our opinion, it lacks too many budgeting options and customization choices to be value utilizing. And you may at all times cancel subscriptions your self or name service suppliers your self to barter higher charges should you’re keen to place within the time.
Is Rocket Cash Protected?
Rocket Cash makes use of quite a few safety practices to maintain your private and monetary info protected. For instance, it by no means shops your financial institution login info. As a substitute, it really works with Plaid, a number one monetary knowledge connection service that many different FinTech apps use. All info between your accounts and Rocket Cash can also be encrypted. Total, this makes Rocket Cash a protected app to make use of.
In case you have questions on Rocket Cash’s safety, you’ll be able to e mail safety@rocketmoney.com to get in contact.
Is Rocket Cash Legit?
Rocket Cash is a legit app within the sense that it helps you keep on prime of month-to-month subscriptions and payments. And should you pay for Premium, its staff makes the hassle to barter higher charges for you if that is what you need.
Nonetheless, there are quite a few features of Rocket Cash that we’re not followers of. For starters, you need to pay for this app to actually be value it since free budgeting apps supply far more customization choices than Rocket Cash’s free model. And should you join Premium, you need to bounce via hoops should you ever wish to unsubscribe and cease paying.
Simply take a look at Rocket Cash’s personal information on the best way to cancel a Rocket Cash Premium membership. You may need to speak with an skilled if you cannot cancel for no matter cause. And canceling your membership does not cancel pending invoice negotiation requests or your Sensible Financial savings account. To actually take away your self from the Premium facet, you are going via two or three cancellation steps.
On prime of that, whereas Rocket Cash has a 4.8 star score on Trustpilot, I am not satisfied these are reliable testimonials. Virtually each evaluate is flagged as “invited,” which means Rocket Cash requested the consumer give them a evaluate. That is commonplace apply, however the overwhelmingly optimistic opinions are starkly contrasted by stinging opinions on Rocket Cash’s YouTube channel and the Google and Apple app shops.
Some latest Google Play Retailer opinions.
Usually, customers like that Rocket Cash highlights all their month-to-month payments in a single place in order that they bear in mind to pay on time and know which subscriptions to cancel.
However many purchasers on the app retailer complain that you need to pay for profitable invoice negotiations after already paying a month-to-month price for Premium. Whenever you throw in app glitches and even horror tales of month-to-month payments growing in worth or being considerably downgraded to economize, we do not assume Rocket Cash is value paying for presently.
Easy methods to Contact Rocket Cash
You’ll be able to contact Rocket Cash through the use of the contact type on its web site. Its staff responds to requests Monday via Friday between 9am to 5pm ET. Premium members can use the dwell chat characteristic as nicely to get help.
Greatest Alternate options
If you would like a easy answer to watch all of your month-to-month payments and subscriptions, the free model of Rocket Cash will get the job finished. However as a budgeting app or all-in-one finance app, there are higher options on the market which might be additionally free.
| Mint | Empower | |
|---|---|---|
| Ranking | 9.5/10 | 8.5/10 |
| Budgeting | Sure | Sure |
| Funding Monitoring | Sure | Sure |
| Retirement Planning | Sure | No |
| Invoice Cost | No | No |
| Handbook Entries | Sure | Sure |
| Funding Administration | Sure | No |
| Web Price Monitoring | Sure | Sure |
For instance, Mint is without doubt one of the greatest free budgeting apps on the market, and it presents extra customization and options than Rocket Cash until you pay. However should you’re simply on the lookout for budgeting assist, there’s little level in paying for a service when a really related and free various exists.
As for Empower, it has a number of free instruments like a finances planner, funding price analyzer, and internet value tracker. It additionally helps you to observe your investments, which is not one thing Rocket Cash presents. And should you make investments a minimum of $100,000, you’ll be able to work with a Empower advisor to construct a customized funding portfolio, just like utilizing a robo-advisor.
And on the finish of the day, the final word various to Rocket Cash is taking a day as soon as per 12 months to name your service suppliers to ask for higher charges. I’ve lowered each my web and telephone payments by doing this earlier than. When you stress the truth that you are a loyal buyer who desires to be taken care of, main firms normally oblige. This protects you cash each month and you do not have to offer again 30% to 60% of your annual financial savings.
Backside Line
If you would like a serving to hand in staying on prime of month-to-month payments and subscriptions, Rocket Cash’s free app could be very helpful. And should you do not care an excessive amount of about in-depth budgeting options and customization, you will not be disenchanted within the free budgeting choices.
Nonetheless, you actually should pay for Premium if you need extra customization and time-saving instruments like subscription cancellations and invoice negotiations. And in our opinion, these options aren’t well worth the worth presently.
