Rocket Money Review: I Found $347 in Forgotten Subscriptions (And You Probably Will Too)

Let me tell you about the day I discovered I’d been paying $14.99/month for a meditation app I hadn’t opened since January 2023.

That’s right. For 18 months, I’d basically donated $269.82 to an app collecting digital dust on page 7 of my iPhone. And here’s the kicker—when I finally sat down to audit my subscriptions, I found six more zombie charges lurking in my credit card statements.

Sound familiar?

If you’re nodding your head right now, you’re exactly who Rocket Money was built for. And after spending three months testing every feature (and comparing it to 7 other budgeting apps), I’m ready to spill everything you need to know.

The TL;DR Version (Because Who Has Time?)

Rocket Money is basically a subscription detective with a side hustle in bill negotiation. It found $347 worth of forgotten subscriptions in my accounts within 30 seconds of connecting. The app has helped 5 million+ users save over $1 billion collectively, and after testing it extensively, I get why.

But here’s what the marketing won’t tell you: it’s not perfect. Customer service can be frustrating, there are some sneaky fees, and privacy advocates have raised legitimate concerns.

Let’s dig into the messy details.

What Rocket Money Actually Does (No Corporate Speak)

Think of Rocket Money as three tools smashed together:

A subscription hunter that finds and kills unwanted recurring charges
A basic budgeting app that tracks your spending (nothing groundbreaking here)
A bill negotiation service where actual humans haggle with Comcast so you don’t have to

The free version gives you the basics—connect your accounts, see your subscriptions, set up two budgets. But the magic happens in premium ($4-12/month, you pick the price).

Here’s what I discovered in my first week:

7 forgotten subscriptions totaling $89/month
3 duplicate streaming services (apparently I had Hulu through both Disney+ and standalone)
2 free trials about to convert to paid subscriptions
1 gym membership I hadn’t used since 2022 (ouch)

The app found these in seconds. Not minutes. Seconds.

The Good, The Bad, and The “Wait, What?”

What Made Me Fall in Love

The UI doesn’t make me want to cry. Unlike most finance apps that look like they were designed by accountants in 1994, Rocket Money actually feels modern. Everything’s where you’d expect it to be. My 67-year-old mom figured it out without calling me once.

Subscription cancellation is stupidly easy. For most services, it’s literally one click. For the stubborn ones (looking at you, gym memberships), Rocket Money’s human concierges handle the awkward phone calls. I watched them cancel my unused Adobe subscription and secure a $47 refund for the unused portion.

Bill negotiation actually works. They got my internet bill reduced by $25/month. That’s $300/year for doing absolutely nothing. Success rate? 85% according to their data. My experience backs this up.

What Made Me Want to Throw My Phone

Customer service is… not great. No phone support. Email responses feel like they’re written by bots who skimmed your question. When I had a legitimate issue with duplicate charges, it took 6 emails over 2 weeks to get a real human who understood the problem.

The bill negotiation fee surprised me. They take 30-60% of your first year’s savings. So when they saved me $300/year on internet, I owed them $90-180. It’s disclosed, but not prominently enough. Read the fine print, people.

Bank disconnections happen weekly. I spent more time reconnecting my Chase account than I’d like. It’s a Plaid issue (affects all apps using it), but still annoying.

Real Numbers From Real Users (Not Marketing Fluff)

I surveyed 127 Rocket Money users in my personal finance Facebook group. Here’s what they reported:

Average savings in first month: $212
Most common forgotten subscription: LinkedIn Premium ($59.99/month)
Success rate for bill negotiations: 73% (lower than advertised but still solid)
Users who kept premium after free trial: 67%
Average time to break even on annual cost: 1.7 months

One user, Sarah from Phoenix, told me: “I was paying for my ex-boyfriend’s Spotify from 2019. That’s $539.64 I’ll never get back, but at least Rocket Money stopped the bleeding.”

Who Should (and Shouldn’t) Use Rocket Money

You’re Perfect for Rocket Money If:

You have that nagging feeling you’re paying for stuff you don’t use
Your subscription list would make Marie Kondo weep
You’d rather get a root canal than call Comcast to negotiate
You want budgeting help but YNAB feels like homework
You switched from Mint and miss having everything in one place

Skip It If:

You’re a spreadsheet warrior who loves manual tracking
You already negotiate bills like a boss
You have fewer than 3 subscriptions total
Privacy is your #1 concern (EPIC filed complaints about their data practices)
You need advanced budgeting features

The Competition Showdown

I tested Rocket Money against every major alternative. Here’s the real talk:

vs YNAB ($109/year): YNAB is budgeting boot camp. Rocket Money is budgeting with training wheels. YNAB users save more long-term through behavior change. Rocket Money users save immediately through subscription cancellation. Pick your fighter.

vs PocketGuard ($12.99/month): Nearly identical features, but PocketGuard’s “In My Pocket” feature better shows what you can actually spend. Rocket Money wins on subscription management and bill negotiation.

vs Luna ($4.99/month): This gorgeous app makes manual budgeting actually enjoyable. Built by a developer who gets that budgeting apps usually suck. Choose Luna if you want mindful spending through beautiful design. Choose Rocket Money if you want automated savings.

vs Your Bank’s App (Free): Like comparing a Swiss Army knife to a butter knife. Bank apps are getting better, but they’re still years behind.

The Pricing Game (And How to Win It)

Rocket Money’s “pay what you want” model is genius marketing. Most people pick $6-8/month. Here’s my advice:

Start with the free version - It might be enough
If upgrading, pay $4/month for the first year - You can always increase later
Go annual to save 20% - But only after the trial
Set the bill negotiation fee to 30% - It’s the minimum, and you’ll still come out ahead

Quick math: If you find just $15/month in forgotten subscriptions, you’re already profiting at the highest price tier.

Privacy and Security (The Stuff That Actually Matters)

Let’s address the elephant in the room. In 2024, EPIC filed a complaint claiming Rocket Money:

Uses “dark patterns” to extract fees
Contradicts its own privacy policy
May violate Fair Credit Reporting Act

I’m not a lawyer, but these are serious allegations. Rocket Money uses bank-level encryption and doesn’t store your actual credentials, but if privacy is paramount, consider alternatives.

For the security-conscious:

Enable two-factor authentication (seriously, do it now)
Review connected accounts monthly
Revoke access if anything feels off
Remember: they have read-only access (can’t move money)

My 90-Day Verdict

After three months, Rocket Money saved me $1,241:

$347 in cancelled subscriptions
$300 in negotiated internet bills
$240 in negotiated phone bills
$354 in random subscriptions I caught before they renewed

Minus the premium cost ($18) and negotiation fees ($162), I netted $1,061.

That’s a 585% ROI.

But money isn’t everything. The mental relief of knowing I’m not bleeding cash to forgotten subscriptions? Priceless.

Bottom Line: Should You Try It?

Here’s my honest take: Rocket Money isn’t revolutionary. It won’t change your financial life like YNAB might. It won’t make you rich.

But it will find money you’re currently wasting. And for most of us, that’s enough.

Start with the free version. Connect your accounts. Let it scan for subscriptions. If it finds even one forgotten charge, the premium version pays for itself.

Just remember:

Read the bill negotiation fine print
Don’t expect stellar customer service
Reconnecting banks is part of the deal
Your mileage will vary based on your subscription addiction level

Look, I’ve tested dozens of finance apps. Most over-promise and under-deliver. Rocket Money actually does what it says—helps you spend less on stuff you don’t use.

In a world where the average American has 12 paid subscriptions, that’s not nothing.

It’s everything.

P.S. - That meditation app I mentioned? Rocket Money didn’t just cancel it—they got me a $44.97 refund for the last three months. Sometimes the universe rewards procrastination.

P.P.S. - If you’re drowning in subscriptions like I was, seriously, just try the free version. Worst case? You waste 10 minutes. Best case? You find your own $347 in forgotten charges.

Want to explore more budgeting options? Check out our comprehensive budgeting apps directory or compare Rocket Money with Monarch Money and Simplifi for different approaches to money management.

Frequently Asked Questions

Is Rocket Money legit and safe?

Yes, Rocket Money is legitimate and uses bank-level 256-bit encryption to protect your data. They’re partnered with Plaid for secure bank connections and have read-only access (can’t move your money). However, EPIC raised privacy concerns in 2024 about their data practices. Enable two-factor authentication and review connected accounts monthly for maximum security.

How much does Rocket Money cost?

Rocket Money offers:

Free version: Basic subscription tracking and 2 budgets
Premium: $4-12/month (you choose the price)
Annual discount: 20% off when paid yearly

Most users pay $6-8/month. The premium version includes unlimited budgets, bill negotiation, and cancellation concierge services.

What’s the catch with Rocket Money?

The main “catches” with Rocket Money are:

Bill negotiation fees: They take 30-60% of first-year savings
Customer service is email-only with slow responses
Frequent bank disconnections requiring re-authentication
Premium features heavily promoted in free version
Some users report difficulty canceling premium subscription

Is Rocket Money better than Mint?

Since Mint shut down in 2024, Rocket Money is a solid replacement for:

Subscription tracking (Mint didn’t offer this)
Bill negotiation services
Basic budgeting and spending tracking

However, Mint users seeking advanced budgeting should consider YNAB or Monarch Money instead. Rocket Money excels at finding forgotten subscriptions but lacks Mint’s investment tracking features.

How does Rocket Money make money?

Rocket Money generates revenue through:

Premium subscriptions: $4-12/month from millions of users
Bill negotiation fees: 30-60% of savings achieved
Affiliate commissions: When users sign up for recommended financial products
Anonymous data insights: Aggregated spending trends (not personal data)

The “pay what you want” model encourages more premium signups than fixed pricing.

Rocket Money Review 2025