Rocket Money (formerly Truebill) takes a fundamentally different approach to personal finance. Instead of asking you to budget more carefully, it finds ways to spend less — automatically. Subscription cancellation, bill negotiation, and credit score monitoring make it the most passive savings tool on the market.
While Monarch and YNAB compete on budgeting methodology, Rocket Money competes on outcomes. The pitch is simple: connect your accounts, and Rocket Money identifies subscriptions you've forgotten about, negotiates lower rates on your bills, and monitors your credit score — all without you lifting a finger.
At $4.99/mo billed annually, it's the second most affordable option (Simplifi is cheaper). But the real value comes from the savings it generates. If bill negotiation saves you more than $59.88/yr, the app pays for itself.
Rocket Money doesn't teach you to budget. It just finds money you're already wasting and gets it back.
Strengths
What Rocket Money does well
Subscription cancellation. Rocket Money identifies every recurring charge across your accounts and can cancel unwanted subscriptions on your behalf. No other budgeting app does this. If you're paying for services you've forgotten about, this feature alone justifies the price.
Bill negotiation. Rocket Money's team contacts your cable, phone, internet, and insurance providers to negotiate lower rates. They only charge if they succeed, and users report saving hundreds per year. This is a genuinely unique service in the budgeting app space.
Credit score monitoring. Free credit score tracking comes included with every subscription. None of the other budgeting apps in our comparison offer this. It's a nice value-add for users who want a centralized financial dashboard.
Lowest learning curve. Rocket Money requires almost no setup. Connect your accounts and it immediately starts surfacing subscriptions and spending patterns. There's no methodology to learn — just actionable insights from day one.
Limitations
Where Rocket Money falls short
Limited budgeting tools. Rocket Money's budgeting features are basic compared to Monarch, YNAB, or even Simplifi. There's no envelope system, no custom automation rules, and no detailed spending plans. It's a savings tool, not a budgeting tool.
No investment tracking. Rocket Money does not track investment portfolios, asset allocation, or performance. For users who want to see their 401(k) alongside daily spending, Monarch or Copilot are better choices.
Negotiation fees. While bill negotiation is valuable, Rocket Money takes a percentage (typically 30–60%) of the first year's savings. On large savings, this fee can be significant. You pay nothing if they don't save you money, but the cut is steep when they do.