By Rob Berger, JD | Last Updated March 11, 2026

Monarch Money is a comprehensive financial planning app designed for users who want granular control over their entire financial picture, including investments and net worth tracking.

Rocket Money (formerly Truebill) focuses on automating financial tasks and putting money back in your pocket through subscription cancellation services, bill negotiation, and automatic savings features.

I’ve used both apps extensively. Today, my wife and I use Monarch Money to manage our household finances. This comparison is based on my experience using both apps.

Quick Comparison Overview

Feature	Monarch Money	Rocket Money
Price	$99.99/year or $14.99/month	$7-$14/month (you choose) or Free tier
Free Version	No (7-day free trial)	Yes, with limited features
Promo Code	Get 50% off first year subscription w/ code ROB50	None
Best For	Detail-oriented planners, couples, comprehensive tracking	Casual budgeters, subscription management
Subscription Cancellation	Tracks only (manual cancellation)	Concierge cancellation service (Premium), but doesn’t work w/ all subscriptions
Bill Negotiation	Not available	Available (35-60% of savings fee)
Investment Tracking	Comprehensive (beta)	Basic net worth only
Automatic Savings	Not available	Smart Savings feature (Premium)
App Store Rating	4.9	4.5
Account Connections	13,000+ institutions	12,000+ institutions

Monarch Money: The Complete Financial Dashboard

Monarch Money is my top pick for anyone who wants a comprehensive view of their entire financial life. It combines budgeting, net worth tracking, investment monitoring, and financial goal setting into one clean interface.

What sets Monarch apart is its depth. You can create fully customizable budgets, track investments with real performance data, monitor your net worth over time, and collaborate with a partner — all in one app. If you’re the type who wants to see the full picture of your finances in a single dashboard, Monarch is hard to beat.

Monarch costs $14.99 per month or $99.99 per year, but you can use my code ROB50 to get 50% off your first year — bringing it down to just $49.99.

Try Monarch Money (50% Off)

Rocket Money: The Subscription and Bill Specialist

Rocket Money (formerly Truebill) takes a different approach. Instead of trying to be an all-in-one financial platform, it excels at two specific things: finding and canceling unwanted subscriptions, and negotiating lower bills on your behalf.

Rocket Money’s bill negotiation feature is unique. You upload a bill — cable, internet, phone — and Rocket Money’s team negotiates a lower rate for you. They take a percentage of what they save you (typically 30-60% of the first year’s savings), but you don’t pay unless they actually lower your bill.

Rocket Money offers a free plan that includes basic subscription tracking and spending insights. The Premium plan ($7-$14/month, you choose what to pay) unlocks bill negotiation, unlimited budgets, and smart savings features.

Try Rocket Money Free

Key Feature Differences

Budgeting

Monarch Money offers a full-featured budgeting system. You can create custom categories, set monthly spending limits, roll over unused budget amounts, and view detailed spending breakdowns over time. It’s comparable to YNAB in budgeting depth, though with a more automated approach and a lot more features.

Rocket Money provides basic budget tracking. You can set category-level spending limits and get alerts when you’re close to going over. However, it’s not designed for detailed, hands-on budgeting the way Monarch is. If budgeting is your primary goal, Monarch wins this category easily.

Subscription Management

Both apps detect recurring subscriptions, but Rocket Money goes a step further. It identifies subscriptions you may have forgotten about and can actually cancel them for you with a single tap. Monarch tracks subscriptions but you’ll need to cancel them yourself.

Three things to keep in mind:

1. The subscription canceling service of Rocket Money requires the premium subscription of the app.
2. It doesn’t always work. I’ve tried Rocket Money’s subscription cancelling service three times without success.
3. Monarch’s subscription feature offers both a list view and a calendar view. And it makes it very easy to add a merchant or transaction as a recurring expense or remove it as a recurring expense.

Bill Negotiation

This is where Rocket Money stands apart. Its team will negotiate lower rates on your behalf for cable, internet, phone, and other recurring bills. Monarch doesn’t offer this feature. If you’re overpaying on bills, Rocket Money’s negotiation service alone can more than pay for the subscription.

Investment and Net Worth Tracking

Monarch Money wins here. It tracks your investments with real performance data, asset allocation breakdowns, and historical net worth charts. Rocket Money shows a basic net worth number but doesn’t offer the detailed investment tracking that Monarch provides.

Collaboration for Couples

Monarch Money is one of the best budgeting apps for couples. Both partners get full access under one subscription, with shared budgets, accounts, and financial goals. Rocket Money’s collaboration features are much more limited.

Pricing Comparison

Plan	Monarch Money	Rocket Money
Free	7-day trial only	Yes (basic features)
Monthly	$14.99/mo	$7-$14/mo (you choose)
Annual	$99.99/yr ($49.99 with ROB50)	$48-$96/yr

Choose Monarch Money If You:

• Want a comprehensive budgeting tool with detailed spending categories and rollover budgets
• Need investment tracking and performance monitoring
• Want to track your net worth over time with detailed charts
• Manage finances with a partner and need collaboration features
• Are looking for an all-in-one replacement for Mint, YNAB, or Personal Capital

Try Monarch Money (50% Off with code ROB50)

Choose Rocket Money If You:

• Want help finding and canceling forgotten subscriptions
• Want someone to negotiate lower bills for you
• Prefer a free app with the option to upgrade later
• Don’t need detailed budgeting or investment tracking
• Want quick wins — lower bills and fewer subscriptions — without a lot of setup

Try Rocket Money Free

Can You Use Both?

Yes, and for some people this is actually the best approach. Use Rocket Money’s free plan to find and cancel unwanted subscriptions and negotiate lower bills. Then use Monarch Money as your primary budgeting and financial tracking dashboard. You get the best of both worlds — Rocket Money’s bill negotiation plus Monarch’s comprehensive financial management.

FAQs

Is Monarch Money better than Rocket Money?

It depends on what you need. Monarch Money is the better all-around personal finance app, with superior budgeting, investment tracking, and net worth monitoring. Rocket Money is better for subscription management and bill negotiation specifically. For most people who want a comprehensive financial tool, I recommend Monarch Money.

Does Rocket Money actually negotiate bills?

Yes. Rocket Money’s team will contact your service providers and negotiate lower rates on your behalf. They charge a percentage of the savings (typically 30-60% of first year savings), so you only pay when they actually save you money.

Can I share my Monarch Money account with my spouse?

Yes. Monarch Money is one of the best budgeting apps for couples. Both partners get full access to shared budgets, accounts, and goals under a single subscription.

Is Rocket Money free?

Rocket Money offers a free plan that includes subscription tracking and basic spending insights. Premium features like bill negotiation and unlimited budgets require a paid plan ($7-$14/month).

Final Thoughts

Both Monarch Money and Rocket Money are excellent apps, but they serve different purposes. If I had to choose one, I’d go with Monarch Money for its comprehensive approach to personal finance management. But Rocket Money earns its place for anyone who wants quick savings through bill negotiation and subscription cleanup — especially since the free plan lets you get started at no cost.