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Software · head to head

Betterment vs Rocket Money

Betterment logo

Betterment

Software

Your path to financial independence

From
$5/month
Rated
-
Full reviewWebsite
Rocket Money logo

Rocket Money

Software

Cancel subscriptions and save money automatically

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Rocket Money has a free tier, so it costs nothing to try first.
  • Each has a real cost: Betterment digital automated investing charges $5 per month fee for accounts under $24,000 balance; Rocket Money successful bill negotiation costs a one time fee of 35% to 60% of the first year's savings
  • They diverge on capability: Betterment covers Automated investing, Rocket Money covers Subscription tracking.

Where they differ

Only the attributes on which Betterment and Rocket Money actually diverge.

Attributes where Betterment and Rocket Money differ
AttributeBettermentRocket Money
Starting price$5/monthFree
Pricing modelsubscriptionfreemium
Free tierNoYes
Founded20082016

Identical on both: platforms (Web, iOS, Android), user rating (Not yet rated), category (Unknown).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Betterment

  • Automated investing
  • Retirement planning
  • Financial advisory
  • Goal tracking
  • Investment accounts

Only in Rocket Money

  • Subscription tracking
  • Bill negotiation
  • Automatic savings
  • Spending insights
  • Credit score monitoring
  • Credit cards
  • Utility providers

Both cover

  • Bank accounts
  • Web support
  • IOS support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Betterment

  • Small investors starting with automated investing at no minimum balancenot Rocket Money
  • Fee-only digital wealth management for accounts under $24,000 via $5/month flat feenot Rocket Money
  • Premium advisory access for high-net-worth individuals with $100,000+ balancenot Rocket Money

Rocket Money

  • Finding and cancelling unwanted subscriptionsnot Betterment
  • Tracking bills and spending in one appnot Betterment
  • Having a third party negotiate down recurring billsnot Betterment

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Betterment

  • Digital automated investing charges $5 per month fee for accounts under $24,000 balance
  • Premium advisory service requires minimum balance of $100,000 in eligible investments
  • Foreign transaction fees apply to checking account (though reimbursed after the fact)
  • High-balance fee discounts only available above $1,000,000 account balance

Rocket Money

  • Successful bill negotiation costs a one time fee of 35% to 60% of the first year's savings
  • Premium is priced on a sliding scale and the help centre publishes no fixed monthly or annual amount, stating rates vary across platforms
  • Custom budget categories, financial goal plans, credit score tracking and real time account syncing are Premium only
  • The Premium free trial is 7 days

Pricing, plan by plan

Betterment

$5/month

No published plan breakdown. See the Betterment review.

Rocket Money

Free
  • FreeFree
    • Subscription tracking
    • Spending insights
    • Bill reminders
  • Premium$12/month
    • Bill negotiation
    • Subscription cancellation
    • Smart savings

Which should you pick?

Choose Betterment if

  • You need automated investing.
  • You work on Web, iOS, Android.
  • You also want retirement planning.
Betterment review

Choose Rocket Money if

  • You need subscription tracking.
  • You want to start without paying.
  • You work on Web, IOS, Android.
  • You also want bill negotiation.
Rocket Money review

Questions people ask

Is Betterment or Rocket Money better?
Neither clearly leads. Betterment starts at $5/month and Rocket Money at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Betterment or Rocket Money?
Rocket Money has a free tier; the other does not. Paid plans start at $5/month for Betterment and Free for Rocket Money.
Does Betterment or Rocket Money run on more platforms?
Betterment runs on Web, iOS, Android. Rocket Money runs on Web, IOS, Android.
Can I use Rocket Money for free?
Yes. Rocket Money has a free tier, so you can try it without paying. Betterment starts at $5/month.
What is Betterment best used for?
Betterment is most often used for small investors starting with automated investing at no minimum balance, fee-only digital wealth management for accounts under $24,000 via $5/month flat fee, premium advisory access for high-net-worth individuals with $100,000+ balance. Of those, small investors starting with automated investing at no minimum balance and fee-only digital wealth management for accounts under $24,000 via $5/month flat fee are not what Rocket Money is typically brought in for.
What can Betterment do that Rocket Money cannot?
Betterment covers Automated investing, Retirement planning, Financial advisory, Goal tracking. Rocket Money covers Subscription tracking, Bill negotiation, Automatic savings, Spending insights. Both handle Bank accounts, Web support, IOS support, Android support.
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