Rocket Money Free vs. Premium

The main differences between Rocket Money’s free and premium accounts are the cost and the number of budgeting features you get. A free account offers basic budgeting tools like the ability to track your expenses, while a premium account ($6 to $12 per month) provides unlimited budgets and other advanced features. For example, the subscription manager can cancel accounts for you with the premium version. We’ll walk you through some more differences below.

By the way, WalletHub is better than a free or premium Rocket Money account since it offers more advanced budgeting features, such as the ability to make a budget using one of five different budgeting strategies with a free account, and the option to share your account with up to five additional people with a premium account. Further down, you can see a side-by-side comparison of the two apps.

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Rocket Money Free vs. Premium Features

Automatic financial account syncing: Rocket Money lets you sync your financial accounts, such as bank accounts, credit cards and investments, with its free and premium accounts. Your transactions are automatically tracked, so you don’t have to log or analyze them manually. Even though this feature is commonly available on many budget apps, it’s usually not available for free.

Expense tracking: You can see transactions from multiple accounts all in one place. Rocket Money offers this feature with its free and premium accounts, just like many other apps – including WalletHub.

Balance alerts: Rocket Money’s free and premium accounts will alert you if your bank account is below a safe balance or if you are spending too much on your credit card.

Subscription manager: Rocket Money uses an algorithm to find recuring subscriptions and bills. This feature is available with both its free and premium accounts. Most apps don’t have this feature, and the ones that do typically don’t offer it for free.

Unlimited budgets: With a free Rocket Money account, you are limited in the number of budgets you can make. This is unfortunately common among budget apps. A premium Rocket Money account does not have this restriction, but you have to pay for it. WalletHub lets you make unlimited budgets with a free account.

Real-time syncing: Rocket Money will update your account balances as it receives the information from your financial institution if you are a premium member.

Transaction management: As a premium member on Rocket Money, you can more efficiently manage your transactions by leaving notes on expenses or splitting expenses into multiple categories. Rocket Money does not offer this feature on its free account. WalletHub, on the other hand, does offer this feature for free.

Subscription cancellation: Rocket Money will cancel subscription services you no longer need, but it will only do so with a premium account. Only a few budget apps offer this type of service, and you typically have to pay for the feature.

Account sharing: You can share your account with one other person if you have a premium account. The free account does not offer this feature. If you need to share your account with more people, try WalletHub.

Automate savings: Rocket Money can learn users’ spending habits and save the right amount of money at the right time to help users reach their goals faster and avoid overdraft fees. This feature is only available with a premium account.

Net worth tracking: Rocket Money lets you track your assets and debts so you can get a full picture of your net worth and financial health, but you will need to be a premium user to do so. Many apps let you track your net worth, and apps like WalletHub let you do so for free.  

Data export: If you want to export transactions from a specific time period for reasons like financial planning or taxes, you will need a premium Rocket Money account. Some apps, including WalletHub, let you export your transaction data for free.

Credit scores & reports: Rocket Money lets you access your credit score with a free account. However, only premium users can access their full credit report. WalletHub, on the other hand, lets you access both your credit score and credit report with a free account.

Pricing: Rocket Money’s pricing structure is not very transparent compared to other budget apps, as prices are not listed clearly on the website. However, it’s reported that users pay between $6 and $12 per month for a premium Rocket Money account and nothing for a basic account.

Is Rocket Money Premium Worth It?

Rocket Money Premium can be worth it if you want to track your net worth, plan to share your account with a family member, and get help cancelling subscriptions you don’t need. However, there are more comprehensive budget apps out there, like the WalletHub app, that can do most of these things for less or even free.

WalletHub vs. Rocket Money

Even though Rocket Money offers automatic bank sync and a subscription manager with a free account, users will have to pay to see their full credit report, track their net worth, and get credit monitoring services. These features are available for free with a basic WalletHub account. WalletHub also gives users access to customized debt payoff plans to help them find the cheapest and quickest way to become debt-free, a credit score simulator, identity theft monitoring, and more – all with a free account.

For people considering a paid account, WalletHub is more transparent with its premium pricing, starting its subscription at $3.99 per month for the first year (billed annually). Rocket Money doesn’t clearly list the pricing for its premium plan, but users can pay anywhere from $6 to $12 a month.

For more options, check out WalletHub’s picks for the best budget apps.