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Started By
Message
Rocket Money
Posted on 6/30/25 at 9:47 am
Posted on 6/30/25 at 9:47 am
Do people have reoccurring charges they don’t know about? Hard to believe you can’t see this on your statements
7
Posted on 6/30/25 at 9:56 am to Lake08
quote:
Do people have reoccurring charges they don’t know about? Hard to believe you can’t see this on your statements
Do not underestimate the stupidity of our population. Honestly this time it is the younger generation. They have grown up in a time of subscriptions and auto payments. The boomers and Gen X some, know what the hell is going on, because they wrote checks and balanced their check book once a month. Gen Y and Gen Z do not even understand those concepts.
While I am no longer a check writer, I pay most bills manually digitally and any auto payments are set to notify me before going out.
It takes a special kind of stupid and lazy to have charges coming in and no idea what they are for or the ability to cancel without the help of yet another app
This post was edited on 6/30/25 at 10:14 am
Posted on 6/30/25 at 10:10 am to Lake08
Considering how much they must spend of advertisement; it is apparently a huge problem.
With that said, they also help negotiate lower bills for customers; which is probably a major feature for younger generations (and introverts) that have problems picking up the phone to talk to someone.
I also wonder if they have a credit karma type of feature where they sell your data to a lot of these nonbank loan products and credit card companies to help "find the best product for your needs"
With that said, they also help negotiate lower bills for customers; which is probably a major feature for younger generations (and introverts) that have problems picking up the phone to talk to someone.
I also wonder if they have a credit karma type of feature where they sell your data to a lot of these nonbank loan products and credit card companies to help "find the best product for your needs"
Posted on 6/30/25 at 10:50 am to Lake08
I'm assuming a lot of people in the hole don't check their statements.
Posted on 6/30/25 at 10:50 am to Weekend Warrior79
quote:
they must spend of advertisement; it is apparently a huge problem.
It's because the value of scraping every one of your transactions from multiple accounts is a goldmine. Yes, plenty of people subscribe to shite they don't need, but if it was a problem, people would investigate exactly why they're paying Peacock $6 a month twice, etc.
Posted on 6/30/25 at 12:37 pm to Lake08
When you have a family and mom has subscriptions, dad has subscriptions, and you have subscriptions for the kids, you later realize that a sub is not being used anymore only after intense questioning abnd review. Worse yet is an annual subscription like McAfee where you don't know if its for you, your wife, or the kids, and the charge happens when you are on vacay then you get back home and immediately have a full plate and simply forget to do it. I've cancelled subscriptions and later realized its needed.
Its also a pain in the arse to go through the trouble of cancelling when you time is more valuable than the subscription, which is a silent killer.
If you have a simple life its not hard to manage them, but if you have a busy high demanding job while raising a family, limited free time, time is money, then things like this slip through.
I used it for a little bit and liked it but I got off of it when I thought about how they have all my financial logins. A couple years later and I am reconsidering.
Its also a pain in the arse to go through the trouble of cancelling when you time is more valuable than the subscription, which is a silent killer.
If you have a simple life its not hard to manage them, but if you have a busy high demanding job while raising a family, limited free time, time is money, then things like this slip through.
I used it for a little bit and liked it but I got off of it when I thought about how they have all my financial logins. A couple years later and I am reconsidering.
Posted on 6/30/25 at 12:43 pm to Lake08
The majority of people dont pay any attention to what they spend money on, subscriptions are a huge item for a lot of people and they probably couldnt come within 50% of what they really spend on subscriptions a year if asked. This is why Rocket Money and such is popular because people think they got this huge win to identify these things even though its completely free to just look at your accounts
Just export the all the data over the past year from each account and see whats recurring, not difficult - I know this 10-20 minute task is too difficult for some though i guess
Just export the all the data over the past year from each account and see whats recurring, not difficult - I know this 10-20 minute task is too difficult for some though i guess
This post was edited on 6/30/25 at 12:45 pm
Posted on 6/30/25 at 1:08 pm to thunderbird1100
There are scam companies that exist solely to add on small parasitic charges to your account when you make a legit purchase. They will never send you a notification and the hope is that you go at least a month or two before you realize and remove it.
This kind of app really helps to weed those suckers out.
Related: Never buy from Cigars International.
This kind of app really helps to weed those suckers out.
Related: Never buy from Cigars International.
Posted on 7/1/25 at 5:59 am to Lake08
It's not as much as "you don't know about them" as you just don't keep track of all of them.
We started using ynab a few months back and immediately identified probably $300 of shite we never used but paid for. We don't live paycheck to paycheck so we never really paid a lot of attention to what was going on.
I think all in all we "found" about two grand a month we were just throwing away on shite that now is going into investments.
We started using ynab a few months back and immediately identified probably $300 of shite we never used but paid for. We don't live paycheck to paycheck so we never really paid a lot of attention to what was going on.
I think all in all we "found" about two grand a month we were just throwing away on shite that now is going into investments.
Posted on 7/1/25 at 8:33 pm to Lake08
I did a trial with RM to see if I had any recurring subs. I found a few bucks that my kids had subscribed to. However, I found that I really like RM. It has given me a solid understanding of our spending habits.
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