Rocket Money vs Simplifi [2024]

Feeling tired or overwhelmed? Money issues could be the culprit. 

According to the Sleep Foundation, 77% of U.S. adults lose sleep over financial concerns. 

So, why not try a budgeting app? Not only should it improve your finances, but it could also help you finally get a good night’s rest. 

Rocket Money and Simplifi are two of the biggest personal finance apps out there.

Not sure which app is right for you? Below, I’ll walk you through the Rocket Money vs Simplifi debate so you can make the right decision. 

Rocket Money vs Simplifi Overview

Rocket Money and Simplifi have a similar general model, but they each offer unique tools and features. That’s why it’s important to consider how they both work before choosing between them.

Let’s take a detailed look at each platform in the Rocket Money vs Simplifi debate. 

What is Rocket Money and How Does Rocket Money Work?

Rocket Money is a personal finance app that focuses on managing paid subscriptions, but it also offers a wide range of budgeting and saving tools.

Let’s start with the subscription manager, Rocket Money’s original “claim to fame.” 

The idea is simple: People subscribe to a lot of services these days, from digital magazines to streaming apps. Often they lose track of all those subscriptions, which means they waste money every month on services they don’t even use. Rocket Money will find and list all your subscriptions in a single space and then help you cancel the ones you no longer want.

The result? Major savings!

The subscription manager is what really makes Rocket Money stand out in the Simplifi vs Rocket Money debate, but the app also offers a whole lot more.

Here are some of Rocket Money’s most important features:

• Subscription Manager: Eliminate the waste of unwanted subscriptions.
• Budgeting: Place limits in certain spending categories, and then let Rocket Money record your progress.
• Spending Insights: Track exactly where your money is going.
• Bill Negotiation: Have the folks at Rocket Money talk utility companies into lowering your bills.
• Net Worth Tracker: Get a complete look at your assets and debts so you know exactly where you stand.
• Smart Savings: Automatically send money to a savings account that’s insured by the Federal Deposit Insurance Corporation (FDIC).
• Credit Score: Check your score and get a detailed breakdown of your credit.

Combine those features, and you’ve got a recipe for a bright financial future!

Like Simplifi, Rocket Money offers a mobile app while also letting you access your account through a web browser. So, with either side in the Rocket Money vs Simplifi conversation, you’ll have no trouble checking your financial status!

To create a Rocket Money account, just head to the official Rocket Money website and click “Get Started.” You can also download the Rocket Money mobile app (available on the Google Play Store and the Apple App Store) and make an account from there.

Learn more about the platform in this complete Rocket Money review.

Try Rocket Money Now

What is Simplifi and How Does Simplifi Work?

Simplifi is a personal finance and budgeting app provided by Quicken. 

What is Quicken? It’s a finance services business that’s been around for over 40 years and that has more than 20 million customers. 

In other words, the company behind Simplifi is legit!

Simplifi doesn’t focus on any single area of personal finance. It’s more of a well-rounded service, offering a wide variety of helpful tools.

Simplifi features include:

• Saving goals: You can mark how much you’d like to save for things like vacations, new cars, and retirement and then track your progress.
• Spending plan: The app will help you earmark money for certain purposes, which can prevent overspending.
• Financial reports: Simplifi can summarize important elements of your financial health, including your income, spending, and savings.
• Real-time alerts: The app will tell you about urgent concerns like unexpected transactions and an approaching spending limit.
• Customizable transactions: You can decide how to categorize your spending, and then Simplifi will track your purchases for you.

You can interact with these features through a user-friendly interface on your phone, tablet, or computer. The Simplifi mobile app is available for Android and iOS, while there’s also a specific web app – meaning you won’t get an inferior experience if you prefer to access your account through a browser. 

Simplifi also takes security seriously, using 256-bit encryption to keep your data safe.

You can create a Simplifi account by downloading the app or visiting the official Quicken website. From there, forming a budget will be easy. Why? Because the app will import your financial data. This is a convenience that both sides offer in the Rocket Money vs Simplifi debate. 

Rocket Money vs Simplifi Cost

Both platforms in the Simplifi vs Rocket Money debate can make it way easier to manage your finances. But functionality isn’t the only concern. You also need to know how much these services cost. 

Here’s how much you can expect to spend with each platform.

Rocket Money Cost

There are two versions of Rocket Money:

1. The free version. You’ll get access to basic features, including balance alerts, subscription management, and spend tracking.
2. The paid “Premium” version. You’ll get the full range of Rocket Money’s features, including subscription cancellation assistance, net worth tracking, a “smart” savings account, and unlimited budget assistance. 

How much does Rocket Money Premium cost? You decide! Believe it or not, Rocket Money has a “pay what’s fair” pricing model. That means you can pay anywhere from $4 to $12 per month. 

If you pay more than $5 for Rocket Money Premium, you’ll pay on a monthly basis. Otherwise, you’ll have to for the whole year at once.

And if you want to try out a Premium plan without commiting, Rocket Money gives you a 7-day free trial. 

The one drawback to Rocket Money Premium is that the bill negotiation feature isn’t included. If you ask Rocket Money to try to lower your utility costs, you’ll have to pay an extra fee – but only if they succeed. The cost is 30% to 60% of the money you save in your first year, and you decide the specific percentage.

So, with Rocket Money, you have a lot of flexibility regarding how much you pay. That’s why Rocket Money wins this round in the Simplifi vs Rocket Money showdown. 

Try Rocket Money Now

Simplifi Cost

Simplifi uses a subscription payment model. The standard price is $3.99 per month, but there’s a current promotion that lowers the monthly price to just $2.

While Simplifi lists the price as monthly, subscriptions are billed annually. So, with the current promotion, you’ll pay $24 for a 1-year subscription. If the promotion ends and the normal price returns, a 1-year subscription would cost $47.88. 

Simplifi doesn’t offer a free version, and there’s no free trial – so this is an area where Simplifi loses in the Rocket Money vs Simplifi battle. But you can request a refund from Simplifi within 30 days if you’re not happy with the service. 

Pros and Cons of Rocket Money vs Simplifi

Both apps in the Rocket Money vs Simplifi debate share a common goal: Help people create a budget and manage their finances. But they go about it in different ways, which means each platform has its own strengths and weaknesses.

Here are the pros and cons of each side of the Simplifi vs Rocket Money conversation. 

Pros and Cons of Rocket Money

Rocket Money Pros

• There’s a free version. You can enjoy some basic features that should improve your finances without spending a dime.
• You can test out the paid version with a 7-day trial. That should be enough time to decide whether the Premium features are worth the price.
• There are lots of extra features beyond budgeting. You can use Rocket Money to manage your subscriptions, negotiate your bills, and even track your investments. 

Rocket Money Cons

• The free version doesn’t include the best Rocket Money features. You’ll need a paid subscription for smart savings, unlimited budget assistance, and other helpful tools.
• Bill negotiation has an extra cost. Even if you pay for Rocket Money, you’ll owe an extra 30% to 60% of any money you save on your utilities. 
• Not all bill negotiations are successful. Some users report their bills actually increasing, and others have had their utilities canceled without any warning. 

Pros and Cons of Simplifi

Simplifi Pros

• The business has been around for decades. Quicken, which runs Simplifi, has 40 years of experience helping people with their finances. 
• Real-time alerts can help you avoid financial problems. Simplifi will tell you about impending bills, unexpected transactions, and other issues – allowing you to deal with them before it’s too late. 
• The app is super secure. Simplifi uses bank-level 256-bit encryption to protect user data.

Simplifi Cons

• There’s no free version. To use Simplifi, you have to get a paid subscription. It currently costs $2 a month, billed annually. 
• Simplifi doesn’t offer a free trial. You can request a refund within 30 days, but there’s no way to test the product without paying the company ahead of time. 
• There’s no credit score feature. Credit is a crucial part of financial health, but Simplifi doesn’t report on it.

Rocket Money vs Simplifi Reviews

Let’s look at some user reviews to see what real people think about the Rocket Money vs Simplifi question.

Rocket Money is a well-liked service, earning an average of 4.5 stars from reviewers on Trustpilot.

In a 5-Star Rocket Money review, someone said they “absolutely love” the app, which has saved them both time and money.

Someone else left a 5-star review praising Rocket Money’s customer service. They said they’d had “nothing but positive experiences so far.”

Try Rocket Money Now

The vast majority of Rocket Money reviews are positive, but a few users have registered complaints. For example, one person left a 2-star review complaining that Rocket Money failed to cancel unwanted subscriptions. 

Quicken, the company behind Simplifi, is a little less popular on Trustpilot, earning only 3.6 stars. But keep in mind that a lot of the negative reviews are about products other than Simplifi. 

In a 5-star Quicken review, someone said that Simplifi was a “game changer,” putting the financial information they need at their fingertips.  

Another user said that they love how Simplifi makes it easy to track their accounts in one place, but some of the editing features could use improvement. 

In another 5-star Quicken review, someone shares their experience having tried Simplifi vs Rocket Money and several other budgeting apps. 

Rocket Money vs Simplifi Reddit 

I found a Reddit thread where someone asked about Rocket Money and similar apps. It provided some interesting takes on the Rocket Money vs Simplifi debate.

One person said they’d been using Rocket Money, and it seemed “great so far.” Their only complaint was that their Fidelity account wouldn’t sync with the app.

Another user disagreed, saying simply, “I would not recommend Rocket Money.” Detailed? Not exactly. But another user chimed in to add that Rocket Money was incompatible with many of their financial accounts. 

Another person suggested using Simplifi, describing the app as “feature complete,” which basically means “well-rounded.” 

Rocket Money vs Simplifi: Which is Better?

Neither side is inherently “better” in the Rocket Money vs Simplifi debate. It all depends on which features you need and how much you’re willing to spend.

Here’s a breakdown of how to choose between these two incredible apps:

• Free Option: Rocket Money. Do you want a free way to track your spending and monitor your financial balances? In that case, download the Rocket Money app and use the free version. The features might be limited, but they’ll still help you manage your money, and you literally have nothing to lose.

• Budget Option: Simplifi. Willing to spend some money for a more complete service? Then try Simplifi. You can set savings goals, categorize your transactions, and receive detailed financial reports – all for just $2 a month (or $3.99 a month when the current promotion ends).

• Comprehensive Option: Rocket Money Premium. If you want even more features, like subscription cancellation assistance and expert advice – Rocket Money has you covered! You’ll just have to pay for Premium, which costs $4 to $12 per month, depending on how much you choose to pay.

Try Rocket Money Now

But remember, budgeting apps aren’t magic, and they won’t instantly improve your finances all on their own. You should also try other strategies! 

Check out this guide to the 52 week money challenge. It’s a fun way to bolster your savings.

And to pad your income, read this article on how to access free money. 

Commonly Asked Questions About Rocket Money vs Simplifi

Alternatives to Rocket Money / Alternatives to Simplifi?

Here are some budgeting platforms that are similar to Rocket Money and Simplifi:

• YNAB (read our Rocket Money vs YNAB comparison)
• Copilot (read our Rocket Money vs Copilot comparison)
• Monarch
• EveryDollar
• PocketGuard
• Empower

If you need help fixing your credit, check out our comparison of Credit Saint vs Lexington Law, or see if working with the best tradeline companies could be the right credit repair solution for you. 

Meanwhile, learn how to budget for non recurring expenses so you can be prepared for unexpected costs going forward. 

If you’re looking for a low-tech, hands-on budgeting method, learn about cash envelope categories. And if you need to boost your savings fast, the 60/30/10 rule budget can help.

Then use a net worth tracker to see how your new financial strategies are paying off. 

Is Rocket Money or Simplifi Better?

Neither platform in the Rocket Money vs Simplifi debate is clearly better than the other, but Rocket Money offers more flexibility. You can choose a free version with limited features or pay for Rocket Money Premium. Simplifi only offers a single paid version.

Simplifi vs Mint?

Simplifi and Mint are both effective budgeting tools, but the Mint app is being discontinued. The main difference was that Simplifi charges a subscription fee while Mint was free. The standard cost for Simplifi is $3.99 per month, but the monthly price has dropped to $2 thanks to a current promotion.