Does Rocket Money really help you save on subscription costs?
Like almost everything we buy recently, streaming costs are rising. Netflix recently announced Price increase That’s what I have no choice but to roll with as someone who hasn’t seen Squid Game Season 2 yet. But the last thing I want to do is lose money on subscriptions I’m not using.
in CNET Surveyalmost half (48%) of respondents said they forgot to cancel their subscriptions, including streaming services, gym memberships, and grocery services. As a result, they pay an average of $91 a month for things they need or don’t want.
Most of us have seen ads for budgeting apps Rocket Moneyclaims it will help you find and cancel your unwanted subscription. So I tested it.
The amount that saved me blew my mind.
9.4
Rocket Money
Like
- Affordable prices
- easy to use
- Saving goals
- Credit score and net worth tracking
- Bill negotiation and cancellation services
I don’t like it
- The free version is limited
- No debt playoff planning feature
- There are no investment tools
- Bill negotiation fees
Rocket Money saved more than $400 in 15 minutes
Rocket money is a Budget app It helps you monitor your income and expenses, set savings goals and track subscriptions in one place, whether using the free or paid version. That’s also my choice The best mint exchange app And recently won CNET Editor’s Choice Award. The paid version of Rocket Money costs between $6-12 a month, but you can also find and cancel your subscription.
You can try this service by going to the Repeat tab in the Apps menu. You will be able to subscribe for the next 7 days, and see what you will be planning later, and how much you will spend on these subscriptions in a year.
The first thing I noticed was that my HGTV Magazine subscription for $50 a year was renewed in 4 days. It was easy to cancel this subscription considering the huge pile of back issues I’ve accumulated but haven’t read yet.
Rocket Money gave me two options. You can either cancel this subscription for me or call the number that the app provided to cancel it yourself.
I decided to let them do that for me. The app requested some basic information including my name, billing address and why I wanted to cancel and made sure I was working on it.
This process was pretty painless, but I have one complaint. I didn’t know that it could take two to seven days for Rocket Money to complete the cancellation after submitting a request for cancellation. Luckily I received a response within minutes from a customer support representative who said that Rocket was able to respond quickly to the confirmation of the email that he sent to me and would quickly track my cancellations . The next business day, my subscription was cancelled.
I was hooked. Have you spent other money without realizing it? I reviewed other subscriptions and identified another handful of me that I didn’t need.
- HP Instant Ink: $4.34 per month (I don’t have one anymore for printers)
- New York Times Digital: $4 per month (the number of free articles I get is usually enough for me)
- Wall Street Journal: $4 per month (same as above)
- Pandora: $10 per month (Recent switch to Amazon Prime Unlimited means no longer needed)
- Spotify: $10 per month (same as above)
When I hit my bank account every month, I admit I barely noticed these small amounts. I grouped them under “other” in my budget, but I didn’t really think about it because that category tends to stay within my spending goals. But seeing them all grouped together was easy to see how quickly they could drain my budget.
By cancelling these subscriptions I saved $32.32 per month. Add it to your HGTV Magazine subscription savings. This is an additional $437.81 in your pocket every year.
The good thing is, I only installed the app a few months ago, but Rocket Money pulled in a subscription after the last few years and it was due despite not paying since installing the app It’s about being able to catch things.
In total, it took about 15 minutes to confirm your subscription and cancel your Rocket Money. It’s not bad to get over $400 on savings.
Rocket Money has a free version
The free version of Rocket Money only displays subscriptions. It will not be cancelled. To access the cancellation service, you will need a paid version that costs between $6-12 a month. By selecting an amount, you can enjoy the same function regardless of the amount.
I already have Rocket Premium, so this was not an issue for me. However, if you don’t want to make extra payments due to the convenience of cancelling your subscription to your Rocket, you can easily use the free version to identify your subscription before canceling it.
You can also try using a rocket Bill negotiation servicehelps to reduce monthly expenses, but if you save money, you will pay 30% to 60% of your first year savings.
How to save subscriptions without apps
I trimmed my subscription costs using Rocket Money. This is because it’s a budget app that I use regularly anyway. You want to save a few minutes, especially if you don’t have to pay extra.
However, of course, you can cancel your subscription by calling the Customer Service Line or logging in to your online account.
These tips can also help you maximize your savings.
- Please be aware of the update date. Be careful whenever you sign up for a new service. You can then set a reminder on the previous week’s calendar to determine if it’s worth updating, and if not, you can cancel. If you want to sign up for a free trial, Use a virtual card To cancel the wind.
- Check your budget regularly. Go on top of you budget Weekly helps you find subscription fees that your account is already hit and cancel them before it costs more. However, it’s not just a rough look. Look at each transaction, and even minor transactions. I have generally looked at my spending, but I haven’t always done it side by side to assess whether each expense is really worth it.
- Rotate the streaming service. In a month, you can only watch a lot of content. One of the easiest ways I’ve found to keep up with subscription costs is to subscribe to only one streaming service at a time. For example, when one of my favorite shows drops a new season HBO’s MaxI’ve cancelled Netflix subscription I signed up for the biggest of the month. I saw everything I was interested in Max before the month began, cancelled it and moved on to another service.
- Take advantage of our free subscription. Some subscriptions offer free access to other services. for example, Walmart Plus Members get free Paramount Plus Subscription. Amazon Prime Membership It comes with perks such as a free Amazon Music subscription and a free year of Grubhub Plus. Check out your existing subscription to see if they offer free perks available.
- Visit your local library. Many library systems offer free access to newspapers, magazines, and more. Check out your local library and see what you can enjoy for free.
- Threatening cancellation. You may be able to call customer service and say you want to cancel your subscription and get a discount. It doesn’t always work, but it’s not harmful to try it.