Need help managing your expenses? There's an app that'll cancel subscriptions, negotiate bills

John Gregory Image
Thursday, July 27, 2023
The app that'll cancel subscriptions, negotiate bills for you
Do you know where your money is going every month? Whether it's $7 for an unused fitness app or $5 for a forgotten subscription, they can add up.

Do you know where your money is going every month? Whether it's $7 for an unused fitness app or $5 for a forgotten subscription, they can add up.

There's one app that can help budget and even negotiate bills for you. Rocket Money keeps track of all your subscriptions and will even cancel them for you.

"Rather than having to wait on hold for 20 minutes, or jump through some other hoops in order to cancel, we added a 'cancel for me' button," said Yahya Mokhtarzada with Rocket Money. "So you can say 'I don't want this service any more, cancel it for me'."

The company has been around for a few years and the app's functions continue to grow.

"We added balance tracking, we added budgeting, we added automated savings accounts, we added credit reports."

There's a free version and a premium version, too - and you set the price.

One of the most popular features - Rocket Money will negotiate your bills for 30-60% of what you save the first year.

"Think about your cell phone bill - if that's coming in between $100 or $120, getting 20-25% off is not uncommon."

Features like that make the app one of the fastest growing financial apps in the market.

However, Rocket Money is not the only service that can help you save on your monthly bills. Mint, Trim and DoNotPay will all cancel unwanted subscriptions.

As for bill negotiation costs, Mint will take 40% of what you save, up to 24 months; Trim takes 15% of your yearly savings; DoNotPay charges $3 a month to use the app with no savings guaranteed.

The one that's right for you all depends on what other services you want and how much you expect to save.

Join us every weekday morning on Eyewitness News at 5 a.m. for our new segment, ABC7 On Your Side. John Gregory has you covered on money-saving tips, including tricks to save on your bills, smart negotiating tactics, plus where you can score free stuff!