Managing your finances in the age of automatic payments, hidden fees, and overlapping subscriptions can feel overwhelming. That’s where Rocket Money (formerly Truebill) comes in—a personal finance app that promises to simplify your budget, cancel unnecessary subscriptions, and even negotiate bills on your behalf. But does it really deliver on those promises?

Let’s examine Rocket Money’s offerings and determine whether it can truly help you spend less and save more.

What Is Rocket Money and How Does It Work?

In today’s world of subscription overload and bill creep, Rocket Money offers a much-needed solution for managing personal finances without the headache. Formerly known as Truebill, Rocket Money is a user-friendly app designed to help you take control of your spending, eliminate waste, and uncover savings opportunities you might not realize exist.

Core Features and How It Works

Rocket Money works by securely linking to your financial accounts—checking, credit cards, and savings—and then analyzing your transaction data to give you a clear picture of your money. Once connected, the app provides a streamlined dashboard where you can:

• Track your spending: It categorizes your transactions automatically so you can see where your money is going.
• Identify recurring payments: Rocket Money highlights subscription services, memberships, and repeat charges that you may have forgotten about.
• Cancel unwanted subscriptions: With a Premium plan, Rocket Money can cancel selected subscriptions on your behalf—no phone calls or customer service hassle.
• Set budgets and spending limits: You can create personalized budgets to track progress and get alerts if you’re overspending.
• Negotiate bills: Rocket Money negotiates bills like internet, phone, and cable by contacting service providers directly to try to lower your rates.
• Automate savings: The app includes a smart savings feature that transfers small amounts to a savings goal you set—great for emergency funds or vacation planning.

The app uses Plaid, a widely trusted financial data provider, for secure account linking. Everything is encrypted, and Rocket Money only has read-only access, so it can’t move your money but can analyze and report on it.

The Premium Option

While the app has a free version with basic features, upgrading to Rocket Money Premium unlocks added convenience such as:

• Subscription cancellation on your behalf
• Concierge support
• Custom budget categories
• Real-time balance syncing
• Smart savings automation

You can choose what you pay for Premium—between $3 and $12 per month—depending on what you feel the service is worth to you.

Key Takeaway: Rocket Money simplifies financial management by automating tedious tasks like subscription tracking, budget monitoring, and bill negotiation—all from one easy-to-use dashboard. Whether you’re trying to save more, spend less, or make sense of your monthly outflows, Rocket Money acts like a personal finance assistant right in your pocket.

Can Rocket Money Really Cancel Unwanted Subscriptions?

With so many digital services and hidden auto-renewals, it’s easy to lose track of what you’re actually paying for each month. From forgotten free trials to barely-used memberships, these silent expenses can quietly drain your bank account. Rocket Money tackles this problem head-on by identifying and helping you cancel unnecessary subscriptions without the stress of tracking them down or dealing with customer service.

How Subscription Detection Works

After you link your credit card and bank accounts, Rocket Money looks for recurring costs in your transactions. It uses smart recognition to flag common subscription patterns—such as payments to streaming services, gym memberships, apps, delivery services, cloud storage, and more.

The app then organizes these into a dedicated “Recurring Charges” section, giving you a full view of what you’re paying for monthly, quarterly, or annually.

You can:

• View subscription details (name, amount, renewal date)
• Mark which subscriptions you want to keep
• Choose to cancel services directly from the app

How the Cancellation Process Works

If you’re a Premium user, Rocket Money offers to cancel unwanted subscriptions on your behalf. All you need to do is tap the cancel button and provide any necessary login info (if required). From there, Rocket Money contacts the provider, requests the cancellation, and updates you when it’s done.

This is especially useful for:

• Hard-to-reach services with no clear cancellation process
• Memberships that require calling or emailing to cancel
• Time-saving convenience when managing multiple services

In some cases, Rocket Money might not be able to cancel a subscription due to provider limitations (such as services that require user verification). In those instances, it guides you through the steps manually.

Real-World Impact

Users have reported savings of $100 to $500 per year simply by eliminating forgotten or unnecessary subscriptions. Many say they were surprised to discover how many services they were paying for and grateful for the simplicity of canceling with a tap.

Key Takeaway: Rocket Money can absolutely help you cancel unwanted subscriptions, saving you money and sparing you the hassle. With automated tracking and cancellation support, it’s like having a personal assistant go through your monthly statements for you and clean your house.

Does Rocket Money Actually Save You Money on Bills?

Bills are a major part of monthly spending, and many people are overpaying without even knowing it. Between hidden fees, rising rates, and confusing contracts, negotiating lower bills can feel daunting. That’s where Rocket Money’s bill negotiation feature steps in, offering to lower your monthly expenses without you ever needing to pick up the phone.

How Bill Negotiation Works

Rocket Money’s team of professional negotiators works directly with your service providers to try to reduce your bills. Here’s how the process works:

1. Upload a Bill: You can submit a PDF or take a picture of your internet, cable, phone, or other service bill using the Rocket Money app.
2. Select Your Provider: Numerous service providers are supported by Rocket Money, including AT&T, Verizon, Comcast/Xfinity, Spectrum, Cox, and others.
3. Let them negotiate: Their agents will contact the provider on your behalf, seeking discounts, promos, or better plans.
4. Get Updates: You will receive alerts if negotiations succeed (and how much you’ll save) or fail.

The service is available to Premium users only, and Rocket Money charges a success-based fee—a percentage of the first-year savings they secure for you. When configuring the feature, you have the option to donate between 30% and 60% of your savings.

Example Savings

Many users have reported impressive results from this tool, such as:

• $20/month savings on internet packages
• Waived equipment or installation fees
• Promotional rates are extended without having to call or threaten cancellation.

Even modest reductions of $10–$15 per month can add up to over $100 in annual savings, especially when combined with subscription cuts and budgeting improvements.

Things to Know

• You don’t pay if they fail to save you anything.
• Negotiation can take a few days to a couple of weeks, depending on the provider.
• Some providers may require additional verification or permissions from you during the process.

It’s not a guarantee, but Rocket Money’s ability to negotiate on your behalf can take the burden off your shoulders and potentially result in real savings.

Key Takeaway: Rocket Money’s bill negotiation service offers a low-effort, high-reward way to reduce your monthly expenses. If you hate haggling or don’t have time to deal with customer service, this feature alone could more than cover the cost of the app.

Is Rocket Money Safe to Use With Your Bank Accounts?

Security is often the biggest concern when using financial apps, and for good reason. Linking your bank accounts to a third-party website may seem unsafe, particularly if you’re giving them critical transaction data. So, how safe is Rocket Money really?

The good news is that Rocket Money takes privacy and security seriously, employing industry-standard protection measures to keep your financial information secure and private.

Bank-Level Encryption and Read-Only Access

Rocket Money utilizes the same 256-bit encryption that big banks and other financial organizations use. This guarantees that all information sent between your device and Rocket Money’s servers is completely encrypted and unintelligible to outside parties.

Even more importantly, Rocket Money connects to your financial institutions using Plaid, a trusted data aggregation service that powers thousands of fintech apps, including Venmo, Acorns, and Chime. Plaid provides a secure, encrypted tunnel between your bank and Rocket Money without exposing login credentials to the app itself.

Additionally, Rocket Money operates with read-only access. This means:

• It can view your transactions, balances, and spending patterns
• It cannot move, transfer, or withdraw money from your accounts
• It does not store your banking login credentials directly

In other words, Rocket Money helps you monitor and analyze your finances without taking control of your money.

Data Privacy and Transparency

Rocket Money’s Privacy Policy clearly outlines how user data is handled. The app does not sell your personal financial information to third-party advertisers or data brokers. Your data is used strictly to provide services within the app, such as subscription tracking, budgeting insights, and bill negotiations.

Users can also:

• Disconnect accounts at any time
• Delete their data permanently upon request
• Adjust app permissions for data usage and notifications

These options give users full control over how their financial information is managed.

Trust and Reputation

Rocket Money is backed by Rocket Companies (the same group behind Rocket Mortgage), adding further credibility and trust to the platform. Millions of users have downloaded the app, which has a generally strong reputation for transparency and reliability.

No major security breaches have been reported, and its partnerships with financial institutions remain active and compliant with U.S. financial standards.

Key Takeaway: Rocket Money is a secure and trustworthy financial app that protects your information with bank-level encryption, read-only access, and trusted partners like Plaid. If you’re cautious about connecting your bank accounts, Rocket Money offers one of the safest environments in the personal finance app space.

Who Should Use Rocket Money—and Who Shouldn’t?

Although Rocket Money isn’t a universally applicable tool, some users may find it of great assistance. Whether you’re trying to trim monthly expenses, gain better control over your budget, or automate financial housekeeping, Rocket Money can act as a smart assistant in your financial life. However, it may not be necessary or ideal for everyone.

Let’s break down who is likely to benefit the most and who might want to skip it.

Ideal Users for Rocket Money

• Busy Professionals and Parents: If you don’t have time to analyze your spending or keep track of every recurring charge, Rocket Money automates those tasks and alerts you when something needs your attention.
• Subscription Overload Victims: If you’ve signed up for trial offers, streaming platforms, or monthly deliveries and lost track, Rocket Money can identify and help cancel them.
• Budget Beginners: Rocket Money is user-friendly and doesn’t require advanced financial knowledge. It offers visuals and tools that help you understand spending habits and create simple, effective budgets.
• People Looking to Save on Bills: If you suspect you’re paying too much for internet, cable, or phone plans—but hate negotiating—Rocket Money’s bill negotiation feature can take that hassle off your plate.
• Users Comfortable With App-Based Finance Tools: Those who already use apps like Mint, YNAB, or Acorns will likely appreciate Rocket Money’s clean design and convenience.

Who Might Not Find Rocket Money Useful

• DIY Budgeters and Spreadsheet Fans: If you already use spreadsheets or other budgeting tools without issues, Rocket Money might feel redundant, especially if you prefer 100% manual tracking.
• Users With Few Subscriptions or Simple Finances: If you don’t have many bills or recurring payments and your finances are fairly straightforward, Rocket Money’s features may be more than you need.
• People Uncomfortable Linking Bank Accounts: While Rocket Money uses industry-standard security, some users are not comfortable giving any third-party app access to their financial data. If this applies to you, even Rocket Money’s best features won’t be worth the trade-off.
• Cost-conscious users Avoid Any Fees: Although Rocket Money offers a free tier, its most helpful features—like subscription cancellation and bill negotiation—are part of the Premium plan or involve performance-based fees.

Key Takeaway: Rocket Money is best suited for people looking to streamline their finances, eliminate waste, and automate budgeting, but it may not be necessary for those who already manage their money manually or have minimal monthly expenses. If you want a helpful digital partner to make personal finance easier, Rocket Money is well worth a look.

FAQs About Rocket Money

Is Rocket Money free to use?

Yes, basic features like budget tracking and subscription alerts are free. Premium features require a customizable monthly payment (you choose between $3 and $12).

Does Rocket Money charge if they cancel my subscriptions?

No, subscription cancellations are included in the Premium tier, but there’s no extra charge per cancellation.

How long does bill negotiation take?

Depending on your service provider and how responsive they are, it usually takes two to four weeks.

Can I use Rocket Money without connecting my bank account?

Not effectively. Most of Rocket Money’s functionality relies on syncing your financial data.

Is there a Rocket Money desktop version?

Yes, you can use Rocket Money through their website: https://rocketmoney.com.

Conclusion

If you’re looking to cut financial clutter, save on bills, and track your budget with minimal effort, Rocket Money is a smart companion app. It’s not magic, but for many users, it pays for itself quickly, especially if you have a few hidden subscriptions or bloated bills that are ripe for cutting.

Try the free version first, and see how much clarity (and potential savings) it brings to your finances.

Additional Resources

• Rocket Money Official Site
• How Rocket Money Works – Help Center
• Plaid Security Overview (used by Rocket Money)
• Best Budgeting Apps of 2025 – NerdWallet
• How to Negotiate Your Bills – U.S. News Guide