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Personal Finance · head to head

Rocket Money vs Betterment

Rocket Money logo

Rocket Money

Personal Finance

Cancel subscriptions and save money automatically

From
Free
Rated
-
Full reviewWebsite
Betterment logo

Betterment

Personal Finance

Your path to financial independence

From
$5/month
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: Rocket Money successful bill negotiation costs a one time fee of 35% to 60% of the first year's savings; Betterment digital automated investing charges $5 per month fee for accounts under $24,000 balance
  • They diverge on capability: Rocket Money covers Subscription tracking, Betterment covers Automated investing.

Where they differ

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

Attributes where Rocket Money and Betterment differ
AttributeRocket MoneyBetterment
Starting priceFree$5/month
Pricing modelfreemiumsubscription
Free tierYesNo
Founded20162008

Identical on both: platforms (Web, IOS, Android), user rating (Not yet rated), category (Personal Finance).

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 Rocket Money

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

Only in Betterment

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

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.

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

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

Where each one falls short

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

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

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

Pricing, plan by plan

Rocket Money

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

Betterment

$5/month

No published plan breakdown. See the Betterment review.

Which should you pick?

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

Choose Betterment if

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

Questions people ask

Is Rocket Money or Betterment better?
Neither clearly leads. Rocket Money starts at Free and Betterment at $5/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Rocket Money or Betterment?
Rocket Money has a free tier; the other does not. Paid plans start at Free for Rocket Money and $5/month for Betterment.
Does Rocket Money or Betterment run on more platforms?
Rocket Money runs on Web, IOS, Android. Betterment 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 Rocket Money best used for?
Rocket Money is most often used for finding and cancelling unwanted subscriptions, tracking bills and spending in one app, having a third party negotiate down recurring bills. Of those, finding and cancelling unwanted subscriptions and tracking bills and spending in one app are not what Betterment is typically brought in for.
What can Rocket Money do that Betterment cannot?
Rocket Money covers Subscription tracking, Bill negotiation, Automatic savings, Spending insights. Betterment covers Automated investing, Retirement planning, Financial advisory, Goal tracking. Both handle Bank accounts, Web support, IOS support, Android support.
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