Rocket Cash Evaluation: Is Rocket Cash Secure?

Rocket Cash is an app that may make it easier to handle your funds, cancel undesirable subscriptions, and negotiate your present payments. Along with subscription administration, it lets you monitor your credit score and web price.

The budgeting options sync together with your accounts, permitting you to categorize your transactions towards your finances simply.

There’s a free plan and a “pay-what’s-fair” plan that prices between $6 and $12 monthly.

At a Look

• Subscription administration and cancelation providers
• Invoice negotiation providers
• Budgeting options
• Credit score and web price monitoring
• Free and paid plan out there

Who ought to use Rocket Cash

Rocket Cash’s finest options are the subscription administration and the invoice negotiation service. If you happen to wrestle to beat the friction of canceling undesirable subscriptions, Rocket Cash is a should. It’ll pull all of your subscriptions into one place. On the free plan, it offers step-by-step directions on cancel and can cancel them for you on the paid plan.

The invoice negotiation service is on the market on each plans; you’ll pay a share of your financial savings.

Options to Rocket Cash

Desk of Contents

1. At a Look
2. Who ought to use Rocket Cash
3. Options to Rocket Cash
4. What Is Rocket Cash?
5. How Does Rocket Cash Work?
6. Rocket Cash Options
1. Account Syncing
2. Handle Subscriptions
3. Invoice Cancellation
4. Invoice Negotiation
5. Budgeting Options
6. Good Financial savings
7. Web Value Tracker
8. Credit score Rating Monitoring
7. Rocket Cash Pricing
1. Free
2. Premium: $6-12 / month
8. Is Rocket Cash Secure?
9. Options to Rocket Cash
1. You Want A Finances (YNAB)
2. Empower Private Dashboard
3. BillCutterz
10. FAQs
11. Is Rocket Cash Value It?

What Is Rocket Cash?

Rocket Cash is a budgeting app for Android and Apple gadgets. 

There are each Free and Premium plans, every with varied perks. 

A few of the member perks embody:

• Account monitoring
• Subscription administration
• Stability alerts
• Subscription cancellation assistant
• Invoice negotiation
• Budgeting
• Credit score rating monitoring
• Web price monitoring

You’ll get probably the most from Rocket Cash in case you use it to observe your spending and the subscription administration instruments. Its free instruments make it a really perfect budgeting app, however the premium subscription stays reasonably priced in case you don’t want hands-on budgeting assist.

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How Does Rocket Cash Work?

You’ll be able to comply with these steps to be a part of Rocket Cash:

1. Obtain the Android or Apple cellular app
2. Hyperlink your monetary accounts
3. Analyze spending habits
4. Search for methods to economize
5. Create budgeting and financial savings targets
6. Monitor monetary progress with common updates.

Rocket Cash Options

Account Syncing

Rocket Cash hyperlinks your banking, bank card, and funding accounts by means of Plaid. This third-party service has read-only entry and doesn’t retailer your delicate particulars for additional privateness. 

Your account balances replace every day the primary time you log into your account. The app will ship spending insights and alerts when direct deposits hit your account. Linking as many accounts as potential makes it straightforward to see how a lot you spend and earn precisely. 

After linking your accounts, you possibly can start categorizing your transactions. Rocket Cash auto-categorizes most transactions, so the continued upkeep necessities are minimal.

Handle Subscriptions

This characteristic is one in every of Rocket Cash’s most helpful options.

You could intuitively have a ballpark estimate about your fastened residing bills, corresponding to utility payments, meals, and childcare. What about your subscriptions? Particularly subscriptions that invoice yearly. It’s very straightforward to neglect about these payments till it’s too late, and also you’ve by chance paid for one more yr.

After linking your accounts, Rocket Cash appears by means of your transaction historical past for recurring subscriptions and lists them in a single place so you possibly can simply see them.

This characteristic is an efficient train in figuring out which providers you frequently use and the others you possibly can stay with out. 

Invoice Cancellation

Premium subscribers can have the app cancel subscriptions on their behalf. Free customers will obtain step-by-step instructions to cease service, which might prevent time regardless of doing the laborious work your self.

This characteristic is useful in case you’re the kind to maintain pushing aside canceling as a result of it takes too lengthy or — in case you’re like me — you aren’t precisely positive do it, so that you simply don’t. 

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Invoice Negotiation

All subscribers can see if Rocket Cash will negotiate your present payments for a decrease price. This is a superb train to apply a minimum of annually for providers you possibly can’t stay with out to make sure you’re paying the very best worth.

A few of the finest financial savings alternatives embody:

• Cable or satellite tv for pc TV
• Dwelling Web
• Postpaid cellphone plans (i.e., Verizon Wi-fi, AT&T, and T-Cell)
• Satellite tv for pc Radio
• Newspapers

Cable payments and contract mobile phone plans have probably the most potential for reductions. The invoice negotiator might even see if they will change you to a more moderen plan that has the identical options as your present plan however is cheaper. There may additionally be loyalty bonuses or limited-time promotions that may scale back your invoice for the next yr. 

The service claims to have an 85% success price in reducing your payments. You pay a one-time success charge and get to resolve how a lot of the primary yr of financial savings to contribute as cost.

Rocket Cash may also strive to economize on these bills:

• Automotive insurance coverage
• Financial institution overdraft charges
• Invoice cost late charges

Budgeting Options

Along with real-time spending alerts and direct deposit notifications, Rocket Cash enables you to create a easy spending plan. The budgeting instruments aren’t as highly effective as some free budgeting instruments, however they can assist you rapidly see in case you’re residing inside your means for the month.

This budgeting app generates a month-to-month report summarizing your spending and revenue patterns. It’s additionally potential to investigate these matters all through the month:

• Payments paid
• Present spending
• The revenue left for financial savings.
• Cash left for spending
• Month-to-month earnings to date

Most stories can be found on a weekly, month-to-month, quarterly, or yearly interval.

Premium members can create limitless budgets and use account sharing so you possibly can finances with one other premium member.

Good Financial savings

Premium subscribers can use the Good Financial savings characteristic to contribute to their financial savings targets mechanically. You’ll be able to resolve how a lot to avoid wasting and the way often to withdraw out of your linked checking account. 

To stop account overdrafts, the service skips withdrawals when you’ve got inadequate funds in your account. 

Your money goes into an FDIC-insured account till you’re able to spend it. Sadly, chances are you’ll not earn curiosity on these deposits. As a substitute, contemplate a high-yield financial savings account to generate income in your short-term financial savings. 

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Web Value Tracker

Premium members may also monitor your web price by means of your linked accounts. This characteristic is probably not as important as budgeting or monitoring spending, nevertheless it’s one other approach to monitor your monetary progress.

There are extra highly effective web price monitoring instruments, however Rocket Cash does an enough job.

Credit score Rating Monitoring

Free customers can view their Experian VantageScore 3.0 credit score rating free of charge. The app refreshes your rating month-to-month. Though this isn’t the identical rating that the majority lenders use to make credit score selections (that may be the FICO Rating from the Truthful Isaac Company), it will provide you with a great estimate of your creditworthiness.

You can too see areas of enchancment that may make it easier to obtain a great credit score rating. Nevertheless, free subscribers received’t have the ability to entry their credit score report.

Premium members can view their full Experian credit score report. This report updates month-to-month, so make sure to entry it frequently to keep away from lacking an replace.

It is a good characteristic, and it helps assess your full monetary image. Take note there are a number of methods to verify your credit score rating free of charge with extra fixed updates. Different credit score monitoring providers could retrieve your rating from extra credit score bureaus and probably provide your FICO Rating.

Rocket Cash Pricing

Two completely different membership plan choices can be found: Lite and Premium. Pricing for Lite is free, and Premium is $3 – $12 however includes a “Pay What’s Fair” possibility, which I’ll clarify in additional element under.

A 7-day free trial is on the market on the Premium plan.

Free

The Lite plan is the usual possibility and is free for all times. 

Its advantages can get the job executed and embody the next:

• Account linking
• Stability alerts
• Subscription administration
• Spend monitoring
• Each day account syncing

The free plan is finest if you wish to monitor your spending and account balances however don’t want hands-on assist canceling or negotiating a lower cost for recurring payments. 

The budgeting instruments are restricted to 2 classes, which might be enough to keep away from overspending in your most vital month-to-month bills.

Premium: $6-12 / month

The Premium plan presents a 7-day free trial, and then you definitely select to pay between $6 and $12 monthly. This app follows a “Pay What’s Fair” technique, so you possibly can resolve how a lot to spend.

In keeping with Rocket Cash, the typical paid person pledges $6.99 month-to-month.

That can assist you resolve if Rocket Cash Premium is price it, these are the out there perks:

• Limitless budgets
• Credit score rating and full credit score report (vs. credit score rating solely)
• Automated subscription cancellations
• Invoice cancellation concierge
• Web price monitoring
• Actual-time account syncing (vs. every day syncing)
• Shared accounts
• Premium chat
• Export information

You may need to improve to the premium plan if you need limitless budgets, shared accounts, or automated subscription administration instruments.

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Is Rocket Cash Secure?

Sure, Rocket Cash is a secure approach to monitor your banking account transactions, search for methods to cut back spending, and monitor your credit score rating.

Most private finance software program apps use the identical third-party service (Plaid) to hook up with your accounts. This software program doesn’t retailer private data on its servers and makes use of bank-level safety to guard your account. As well as, when you could share your information with others, you possibly can scramble it for extra privateness.

Options to Rocket Cash

Rocket Cash can assist enhance your funds, however these different providers might be higher in case you want hands-on assist with a particular want. If none of those sound good, additionally try our record of the finest budgeting apps for {couples}.

You Want A Finances (YNAB)

If you need a severe finances and to cease residing paycheck to paycheck, You Want A Finances (YNAB) is a superb possibility. YNAB isn’t free, although; it prices $14.99 month-to-month or $109 yearly, however there’s a 34-day free trial to see if it’s a great match.

The YNAB finances follows a zero-based finances method, assigning every greenback to a particular job. So, you must plan to spend or save each greenback you make, which is a well-tested and efficient budgeting methodology.

The app walks you thru the budgeting course of and evaluations many month-to-month bills which are simply ignored with primary budgeting instruments like Rocket Cash or Mint.

The spending and web price stories are additionally strong. There are additionally a number of monetary calculators that can assist you plan upcoming targets.

For extra data, try our full YNAB overview.

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Empower Private Dashboard

Empower Private Dashboard is arguably the very best free web price tracker out there right this moment, as you possibly can hyperlink all your banking and brokerage accounts and add guide accounts. The service consists of primary spend monitoring instruments to categorize transactions and make sure you stay inside your means.

Creating financial savings targets and reviewing your funding portfolio’s asset allocation and fund charges can also be potential. It has a collection of planning instruments which are helpful for retirement planning, however they’ll attempt to promote you on their wealth administration providers.

Learn our Empower Private Dashboard overview for extra data.

Go to Empower

BillCutterz

BillCutterz can negotiate your present payments in your behalf, and also you solely pay if it saves you cash. BillCutterz can prevent on payments corresponding to, mobile phone, cable, web, satellite tv for pc radio, and extra. It takes about 48 hours after you submit the invoice to search out out in case you’ve obtained any financial savings.

BillCutterz prices 50% of the annual financial savings it negotiates for you. For instance, in the event that they prevent $20 a month in your mobile phone invoice, they’ll cost $10 monthly for 12 months or $120. You’ll be able to pay month-to-month or get a ten% low cost by paying in full immediately.

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FAQs

Is Rocket Cash Value It?

Rocket Cash might be an efficient approach to make a free finances if you wish to monitor spending simply and don’t want hands-on assist. The paid subscription might be price it in case you want limitless budgeting entry and different money-saving instruments. The “Pay What’s Fair” possibility makes it a fair higher worth.

However whereas the app has a number of extra options, not everybody will discover all of them helpful. If you happen to’re on the lookout for extra in-depth instruments for budgeting or monitoring your spending, contemplate different choices, corresponding to YNAB or Private Capital, along with Rocket Cash.

Since it’s free, it doesn’t damage to strive it out. You can too take a look at drive the premium providers to see in case you discover worth in them.