In an age of countless subscriptions and recurring bills, keeping track of where your money is going has become a significant challenge. The fintech revolution has produced powerful tools to bring clarity to our financial lives, and Rocket Money (formerly known as Truebill) has emerged as a leading all-in-one app designed to help you track spending, manage subscriptions, and automate savings.
While the app provides a powerful free version, its Premium subscription unlocks a host of advanced features. This guide for 2025 will explore the full capabilities of Rocket Money and provide a clear, step-by-step plan on how to cancel your Rocket Money Premium subscription if you decide it’s no longer needed.
What is Rocket Money? Your Personal Finance Hub
Rocket Money is a personal finance app that connects to all of your financial accounts—checking, savings, credit cards, and investments—to give you a complete 360-degree view of your finances. Its core mission is to identify where your money is going, find opportunities to save, and empower you to take control of your spending.
Key Features of a Rocket Money Subscription
While the free version is great for basic tracking, the Premium subscription is where the app’s most powerful automation features come to life.
- Advanced Subscription Management: The app’s signature feature. Rocket Money automatically identifies all your recurring payments and lists them in a single, easy-to-read dashboard.
- Concierge Cancellation Service: The premium version offers a concierge service where their team will cancel unwanted subscriptions on your behalf, saving you the time and hassle of contacting each company individually.
- Automated “Smart Savings”: The app can analyze your spending habits and automatically transfer small, manageable amounts into an FDIC-insured savings account, helping you build savings without feeling the pinch.
- Bill Negotiation: The Rocket Money team can negotiate with service providers (like cable, internet, and mobile phone companies) on your behalf to try and lower your monthly bills. They typically take a percentage of the annual savings as their fee for this service.
- Unlimited Budgets & Credit Score Tracking: Premium users can create unlimited custom budgets, track their credit score and history, and get a full picture of their net worth.
These features position Rocket Money as an active assistant in managing your financial well-being.
How to Cancel Your Rocket Money Premium Subscription
If you’ve organized your finances or simply wish to revert to the free version, canceling your Premium subscription is a straightforward process handled directly within the app or on the website.
Important Note: Canceling your Premium subscription does not delete your Rocket Money account. It simply downgrades you to the free version at the end of your current billing cycle. You will retain access to your basic account information and tracking features.
Step-by-Step Guide to Cancellation
The process is the same whether you are on the mobile app or the web version.
- Log In to Your Rocket Money Account: Open the app or navigate to the official Rocket Money website.
- Go to ‘Settings’: Find and tap the Settings (⚙️) icon, which is typically located in the upper-left corner on mobile or on the left sidebar on the web.
- Select ‘Premium Membership’: In the settings menu, choose the “Premium Membership” option.
- Click ‘Manage Membership’: On the Premium Membership screen, scroll down and select “Manage Membership” (on the web, you may need to click “Manage” in the upper-right corner).
- Initiate Cancellation: The system will present several prompts. You must continue to select the “Continue with cancellation” option. The app is designed to remind you of the features you will be losing.
- Confirm and Submit: After several confirmation screens, you will reach a final “Submit and Cancel Premium” button. Click this to finalize the process.
You will know the cancellation was successful when you reach a screen confirming it. Your premium features will remain active until the end of the term you’ve already paid for.
How to Close Your Rocket Money Account Entirely
If you wish to completely delete your data and account, you must first ensure your Premium subscription is canceled.
- Cancel Premium First: Follow all the steps above to cancel Rocket Money Premium.
- Withdraw Savings: If you use the Smart Savings feature, withdraw all funds back to your linked bank account. This can take 1-2 business days.
- Delete Account: Once the above steps are complete, go back to Settings, select “Profile,” and scroll to the bottom. You will find the option to “Delete my account.” This action is permanent and will erase your data from the app.
A Note on Subscription Management Services
It’s ironic that you might look for a service to cancel a subscription management app. While a platform like Unsubby exists to manage various types of subscriptions, using it to cancel Rocket Money would be redundant. Rocket Money’s entire purpose is to empower you to handle these tasks, and their own cancellation process, while involving a few confirmation clicks, is designed to be completed directly by the user.
Conclusion: Financial Clarity at Your Fingertips
Rocket Money provides a powerful, all-in-one solution for anyone looking to get a firm grip on their financial life. From uncovering forgotten subscriptions to actively negotiating lower bills, its features can lead to significant savings and greater peace of mind. By also offering a clear, self-service path to manage your premium plan, Rocket Money ensures that you are always in control. Understanding this process allows you to use the app with confidence, knowing you can adjust your subscription level to perfectly match your financial journey.
