How much does Rocket Money cost? | Rocket Money Help Center (2024)

FAQs

How much does Rocket Money cost? | Rocket Money Help Center? ›

Rocket Money is a free budgeting app that offers limited budgeting features for no cost. If you want to create unlimited budgets, customize your budget categories or access features like automated savings, you'll need to pay for a Premium subscription, which costs between $4 and $12 per month.

Premium Membership

These prices can vary at times and across platforms, but in general, members can choose monthly prices between $6-$12 per month. As a new Premium member, you'll receive a 7-day free trial to explore the additional features. After this period, you'll be charged the amount you chose during sign-up.

Rocket Money charges 30–60% of the amount they help you save for the year. So, let's say they negotiate your phone bill to a lower price and save you a total of $175 for the next year. That means you'd have to pay them an upfront fee of anywhere from $50–105 . . . to do something you could've done yourself!

Rocket Money Premium costs between $3 and $12 per month.

This means the cost of Rocket Money Premium starts as low as $36 per year and can go up to $144 per year. You pick how much you pay per month with its “pay-what-is-fair” model; if you select $3 or $4, you pay annually, whereas other amounts charge you monthly.

At Rocket Money, we offer flexible pricing options for our Premium Membership to ensure it fits within your budget. The membership is available from $4 to $5 per month when billed annually ($48 or $60 in total) or $6 to $12 per month when billed monthly.

🧑 Great for budget-conscious users, Rocket Money provides tools to monitor spending and optimize savings with minimal effort. It's also a helpful app for people who want some help negotiating their bills, as Rocket Money works with several popular companies to lower things like phone or internet bills.

While the Rocket Money app is free, there is a subscription fee if you want to use Premium features, like concierge services or premium chat. Free to create a budget. Subscription fee applies to premium services. Rocket Money is featured in our best budgeting apps guide.

If you're headed to the bank to deposit $50, $800, or even $1,000 in cash, you can go about your affairs as usual. But the deposit will be reported if you're depositing a large chunk of cash totaling over $10,000.

Banks must report cash deposits of $10,000 or more. Don't think that breaking up your money into smaller deposits will allow you to skirt reporting requirements. Small business owners who often receive payments in cash also have to report cash transactions exceeding $10,000.

Is Rocket cash in free? ›

General Rocket Account cash-in charge is Free but for salary & stipend account cash in charge in 0.9%.

Premium Rocket Money users also get credit reports and real-time alerts for changes impacting your credit score. But we prefer Mint over Rocket Money for credit reporting and monitoring since it's free. Winner: Mint offers free credit reports and monitoring.

Rocket Money will end your subscription, even communicating by email, phone call, or snail mail on your behalf. It's that simple. Feel like handling it yourself? Tap the phone or website icon to contact the subscription company on your own.

The Verdict: Choose Based on Your Financial Priorities

Rocket Money has its strengths, especially in managing subscriptions and offering spending insights. However, for a more rounded approach to financial management, Empower holds the edge.

While Rocket Money is a free app, there are several optional paid services and features that could result in a charge or transfer appearing on your bank or credit card statement: Smart Savings Deposits: These are not charges, but deposits into a Smart Savings account that's tied to your Rocket Money account.

Cancel unwanted subscriptions

Rocket Money will end your subscription, even communicating by email, phone call, or snail mail on your behalf. It's that simple. Feel like handling it yourself? Tap the phone or website icon to contact the subscription company on your own.

Checking your credit score within the Rocket Money app is a soft inquiry. This type of inquiry has no impact on your credit score and is not reported to any of the credit bureaus.