{"id":37381,"date":"2023-11-27T20:45:34","date_gmt":"2023-11-28T01:45:34","guid":{"rendered":"https:\/\/mascolombia.com\/?p=37381"},"modified":"2024-01-13T22:45:14","modified_gmt":"2024-01-14T03:45:14","slug":"10-things-to-know-about-rocket-money","status":"publish","type":"post","link":"https:\/\/mascolombia.com\/en\/10-things-to-know-about-rocket-money\/","title":{"rendered":"10 Things to Know About Rocket Money"},"content":{"rendered":"\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\"><h2>In this article<\/h2><nav><ul><li class=\"\"><a href=\"#pros-of-rocket-money\">Pros of Rocket Money<\/a><ul><li class=\"\"><a href=\"#1-unified-account-visibility\">1. Unified Account Visibility<\/a><\/li><li class=\"\"><a href=\"#2-robust-budgeting-and-savings-tools\">2. Robust Budgeting and Savings Tools<\/a><\/li><li class=\"\"><a href=\"#3-credit-reports-and-tracking\">3. Credit Reports and Tracking<\/a><\/li><li class=\"\"><a href=\"#4-cross-platform-accessibility\">4. Cross-Platform Accessibility<\/a><\/li><\/ul><\/li><li class=\"\"><a href=\"#cons-of-rocket-money\">Cons of Rocket Money<\/a><ul><li class=\"\"><a href=\"#1-limitations-of-the-free-version\">1. Limitations of the Free Version<\/a><\/li><li class=\"\"><a href=\"#2-costly-bill-negotiation\">2. Costly Bill Negotiation<\/a><\/li><li class=\"\"><a href=\"#3-performance-lag\">3. Performance Lag<\/a><\/li><\/ul><\/li><li class=\"\"><a href=\"#understanding-rocket-money\">Understanding Rocket Money<\/a><ul><li class=\"\"><a href=\"#1-account-linkage-through-plaid\">1. Account Linkage through Plaid<\/a><\/li><li class=\"\"><a href=\"#2-comprehensive-financial-overview\">2. Comprehensive Financial Overview<\/a><\/li><li class=\"\"><a href=\"#3-automated-payment-recognition\">3. Automated Payment Recognition<\/a><\/li><li class=\"\"><a href=\"#4-budget-customization-and-automation\">4. Budget Customization and Automation<\/a><\/li><li class=\"\"><a href=\"#5-intuitive-spending-insights\">5. Intuitive Spending Insights<\/a><\/li><\/ul><\/li><li class=\"\"><a href=\"#cost-structure-and-accessibility\">Cost Structure and Accessibility<\/a><\/li><li class=\"\"><a href=\"#the-best-of-rocket-money\">The Best of Rocket Money<\/a><ul><li class=\"\"><a href=\"#1-unified-financial-overview\">1. Unified Financial Overview<\/a><\/li><li class=\"\"><a href=\"#2-spending-insights-with-precision\">2. Spending Insights with Precision<\/a><\/li><li class=\"\"><a href=\"#3-customized-budget-categories\">3. Customized Budget Categories<\/a><\/li><li class=\"\"><a href=\"#4-autopilot-savings\">4. Autopilot Savings<\/a><\/li><li class=\"\"><a href=\"#5-credit-management-excellence\">5. Credit Management Excellence<\/a><\/li><li class=\"\"><a href=\"#6-cross-platform-accessibility\">6. Cross-Platform Accessibility<\/a><\/li><\/ul><\/li><li class=\"\"><a href=\"#what-could-be-better\">What could be better?<\/a><ul><li class=\"\"><a href=\"#1-restricted-free-version\">1. Restricted Free Version<\/a><\/li><li class=\"\"><a href=\"#2-costly-bill-negotiation-1\">2. Costly Bill Negotiation<\/a><\/li><li class=\"\"><a href=\"#3-lagging-app-responsiveness\">3. Lagging App Responsiveness<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"pros-of-rocket-money\">Pros of Rocket Money<\/h2>\n\n\n\n<p>Rocket Money stands out as a comprehensive money management and budgeting app, offering users a centralized platform to oversee all their financial accounts effortlessly. The following features contribute to its appeal:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"1-unified-account-visibility\">1. Unified Account Visibility<\/h3>\n\n\n\n<p>Easily consolidate all your financial accounts, including checking, savings, credit cards, and investments, providing a streamlined view of your financial landscape.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"2-robust-budgeting-and-savings-tools\">2. Robust Budgeting and Savings Tools<\/h3>\n\n\n\n<p>Rocket Money presents an array of budgeting and savings features, empowering users to take control of their finances. From setting monthly budgets for various expenses to leveraging automatic savings guided by artificial intelligence, the app equips users with tools for prudent financial management.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"3-credit-reports-and-tracking\">3. Credit Reports and Tracking<\/h3>\n\n\n\n<p>Gain insights into your credit health with credit reports and tracking functionalities embedded within the app. Stay informed about your credit standing and make informed decisions.<\/p>\n\n\n\n<p>You may read: <strong><a href=\"https:\/\/mascolombia.com\/en\/3-banking-stocks-to-watch-in-2023\/?_thumbnail_id=37364\">3 Banking Stocks to Watch in 2023<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"4-cross-platform-accessibility\">4. Cross-Platform Accessibility<\/h3>\n\n\n\n<p>Enjoy the convenience of accessing Rocket Money across multiple platforms, ensuring flexibility and adaptability to different devices and operating systems.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"cons-of-rocket-money\">Cons of Rocket Money<\/h2>\n\n\n\n<p>While Rocket Money boasts impressive features, certain drawbacks should be considered:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"1-limitations-of-the-free-version\">1. Limitations of the Free Version<\/h3>\n\n\n\n<p>The free version of Rocket Money offers basic functionalities, and users may find it somewhat restrictive compared to the premium alternatives.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"2-costly-bill-negotiation\">2. Costly Bill Negotiation<\/h3>\n\n\n\n<p>Engaging in bill negotiation through Rocket Money may come at a cost, and users should weigh the expenses against the potential benefits.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"3-performance-lag\">3. Performance Lag<\/h3>\n\n\n\n<p>Some users report that the app can be slow at times, impacting the overall user experience. A smoother performance could enhance user satisfaction.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"understanding-rocket-money\">Understanding Rocket Money<\/h2>\n\n\n\n<p>Rocket Money emerges as a versatile finance management tool, relying on a user-friendly interface and robust features. Understanding its core functionalities is pivotal:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"1-account-linkage-through-plaid\">1. Account Linkage through Plaid<\/h3>\n\n\n\n<p>Utilizing Plaid, a trusted third-party service, Rocket Money facilitates the secure linkage of your financial accounts. This includes checking, savings, credit cards, and investment accounts.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"2-comprehensive-financial-overview\">2. Comprehensive Financial Overview<\/h3>\n\n\n\n<p>The app\u2019s dashboard provides a comprehensive snapshot of your financial landscape, displaying real-time balances for all linked accounts.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"3-automated-payment-recognition\">3. Automated Payment Recognition<\/h3>\n\n\n\n<p>Rocket Money streamlines the management of recurring payments by automatically identifying bills and subscriptions. Users can also manually input such payments for meticulous tracking.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"4-budget-customization-and-automation\">4. Budget Customization and Automation<\/h3>\n\n\n\n<p>Users can personalize monthly budgets for different expense categories, fostering financial discipline. Additionally, the app employs <a href=\"https:\/\/hbr.org\/2023\/08\/what-the-finance-industry-tells-us-about-the-future-of-ai\" rel=\"nofollow noopener\" target=\"_blank\">AI<\/a> to automate savings based on spending patterns, minimizing the risk of overdrafts.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"5-intuitive-spending-insights\">5. Intuitive Spending Insights<\/h3>\n\n\n\n<p>The \u201cLeft for spending\u201d feature offers a quick glance at unassigned funds, simplifying decision-making regarding discretionary spending. The Net Worth feature provides an overarching view of your financial standing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"cost-structure-and-accessibility\">Cost Structure and Accessibility<\/h2>\n\n\n\n<p>Rocket Money adopts a tiered pricing model:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Free Version<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Basic app features are accessible at no cost, providing users with essential functionalities.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Premium Features<\/strong><\/li>\n<\/ul>\n\n\n\n<p>To unlock advanced features, users can opt for a subscription, with costs ranging from <strong>$3 to $12 per month<\/strong>, depending on billing preferences.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/mascolombia.com\/wp-content\/uploads\/2023\/11\/10-things-to-know-about-rocket-money-1-1024x683.jpg\" alt=\"\" class=\"wp-image-37391\" title=\"\" srcset=\"https:\/\/mascolombia.com\/wp-content\/uploads\/2023\/11\/10-things-to-know-about-rocket-money-1-1024x683.jpg 1024w, https:\/\/mascolombia.com\/wp-content\/uploads\/2023\/11\/10-things-to-know-about-rocket-money-1-300x200.jpg 300w, https:\/\/mascolombia.com\/wp-content\/uploads\/2023\/11\/10-things-to-know-about-rocket-money-1-768x512.jpg 768w, https:\/\/mascolombia.com\/wp-content\/uploads\/2023\/11\/10-things-to-know-about-rocket-money-1.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">  <\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"the-best-of-rocket-money\">The Best of Rocket Money<\/h2>\n\n\n\n<p>Rocket Money stands out as an incredibly robust financial app, offering a plethora of advantages for users seeking comprehensive money management solutions. Here\u2019s an in-depth look at some of its top perks:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"1-unified-financial-overview\">1. Unified Financial Overview<\/h3>\n\n\n\n<p>Rocket Money excels in providing users with a consolidated view of their financial landscape. The dashboard serves as a command center, displaying overall and individual account balances, recent transactions, upcoming bills, and the crucial \u201cLeft for spending\u201d metric.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"2-spending-insights-with-precision\">2. Spending Insights with Precision<\/h3>\n\n\n\n<p>Delve deeper into your financial dynamics using the Spending tab, breaking down monthly money movements. The app adeptly identifies regular bills and recurring payments, presenting them in an organized manner on the Recurring tab calendar.<\/p>\n\n\n\n<p>You may also read: <strong><a href=\"https:\/\/mascolombia.com\/en\/10-ways-to-improve-credit-score\/\">10 Ways to Improve Credit Score<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"3-customized-budget-categories\">3. Customized Budget Categories<\/h3>\n\n\n\n<p>Rocket Money empowers users to take charge of their post-bill funds by creating diverse budget categories. Whether it\u2019s allocating funds for pet expenses or planning an upcoming vacation, users can effortlessly integrate these categories into their monthly budget.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"4-autopilot-savings\">4. Autopilot Savings<\/h3>\n\n\n\n<p>Elevate your savings game with Rocket Money\u2019s Autopilot feature. Set savings goals, choose the frequency of savings, and let the intelligent AI analyze your accounts to determine optimal saving times.<\/p>\n\n\n\n<p>Savings are securely deposited into an <a href=\"https:\/\/www.fdic.gov\/resources\/deposit-insurance\/\" rel=\"nofollow noopener\" target=\"_blank\">FDIC<\/a>-insured savings account with NBKC Bank and trusted Synapse partners. Regularly transferring savings to a high-yield savings account ensures optimal interest rates.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"5-credit-management-excellence\">5. Credit Management Excellence<\/h3>\n\n\n\n<p>Recognizing the significance of credit scores in personal finances, Rocket Money facilitates real-time credit monitoring.<\/p>\n\n\n\n<p>Users can access their latest credit scores, set up alerts for real-time tracking of changes, and seamlessly view their three credit reports to present their financial profile in the best light to potential lenders.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"6-cross-platform-accessibility\">6. Cross-Platform Accessibility<\/h3>\n\n\n\n<p>Rocket Money caters to diverse user preferences by being available on both iOS and Android devices, spanning phones and tablets. The flexibility extends to desktop users, who can access the app via their browser for a larger screen experience. Note that two-factor authentication is a mandatory security feature for desktop\/browser usage.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-could-be-better\">What could be better?<\/h2>\n\n\n\n<p>Even a powerhouse like Rocket Money comes with its share of drawbacks, and it&#8217;s essential to shed light on these aspects for a comprehensive understanding.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"1-restricted-free-version\">1. Restricted Free Version<\/h3>\n\n\n\n<p>While Rocket Money undoubtedly offers a robust set of features, its Achilles\u2019 heel lies in the limitations of the free version. The core functionality, such as linking accounts and basic budgeting, is available.<\/p>\n\n\n\n<p>However, the most impactful features are tucked behind the curtain of a Premium membership. Yes, this includes the intriguing subscription service cancellation feature that captivates many potential users.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"2-costly-bill-negotiation-1\">2. Costly Bill Negotiation<\/h3>\n\n\n\n<p>Rocket Money\u2019s Bill Negotiation service, a beacon of promise for users seeking to slash bills, comes at a considerable cost. While the potential for better rates on bills like cellphone and cable is enticing, it\u2019s not a complimentary service.<\/p>\n\n\n\n<p>If the negotiation proves successful, users must be prepared to part with <strong>30% to 60% <\/strong>of the estimated first year\u2019s savings. This fee is a lump sum charged at the time of service, introducing a financial consideration for those contemplating this feature.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/mascolombia.com\/wp-content\/uploads\/2023\/11\/10-things-to-know-about-rocket-money-2-1024x683.jpg\" alt=\"\" class=\"wp-image-37395\" title=\"\" srcset=\"https:\/\/mascolombia.com\/wp-content\/uploads\/2023\/11\/10-things-to-know-about-rocket-money-2-1024x683.jpg 1024w, https:\/\/mascolombia.com\/wp-content\/uploads\/2023\/11\/10-things-to-know-about-rocket-money-2-300x200.jpg 300w, https:\/\/mascolombia.com\/wp-content\/uploads\/2023\/11\/10-things-to-know-about-rocket-money-2-768x512.jpg 768w, https:\/\/mascolombia.com\/wp-content\/uploads\/2023\/11\/10-things-to-know-about-rocket-money-2.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">  <\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"3-lagging-app-responsiveness\">3. Lagging App Responsiveness<\/h3>\n\n\n\n<p>In the realm of app performance, Rocket Money faces a notable hurdle. Despite overall functionality during testing, instances of sluggish responsiveness were observed. Users may find themselves tapping buttons repeatedly to elicit a response, and there were occasions where the app\u2019s interface lagged, making it challenging to navigate smoothly.<\/p>\n\n\n\n<p>Keep in mind this is an informative article and if you wish to use Rocket Money or make any decisions that affect your finances, you should always reach out to an expert for guidance if you feel the need to.<\/p>\n\n\n\n<p>Keep reading: <strong><a href=\"https:\/\/mascolombia.com\/en\/interest-rates-and-market-housing\/\">Interest Rates and Housing Market<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thinking of using Rocket Money to take your finances to the next level? These are the pros and cons of the app and the best benefits of using it.<\/p>\n","protected":false},"author":278,"featured_media":37387,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rank_math_focus_keyword":"rocket money","rank_math_title":"","rank_math_description":"Thinking of using Rocket Money to take your finances to the next level? These are the pros and cons of the app and the best benefits of using it.","rank_math_primary_category":"767","footnotes":""},"categories":[767],"tags":[776],"mc_distribution":[688],"class_list":["post-37381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","tag-article","mc_distribution-ninguna"],"acf":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/posts\/37381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/users\/278"}],"replies":[{"embeddable":true,"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/comments?post=37381"}],"version-history":[{"count":0,"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/posts\/37381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/media\/37387"}],"wp:attachment":[{"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/media?parent=37381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/categories?post=37381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/tags?post=37381"},{"taxonomy":"mc_distribution","embeddable":true,"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/mc_distribution?post=37381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}