Personal finance apps have become essential for individuals seeking to manage their money more efficiently without relying on spreadsheets or guesswork. With rising subscription costs, irregular expenses, and overlapping savings goals, staying on top of personal finances is more challenging than ever. 

Tools like Simplifi by Quicken and Truebill (now Rocket Money) aim to bring clarity via their integrated budgeting, tracking, and savings features. While both software streamline money management, they differ in their level of automation, customization, and planning tools.  

This in-depth comparison of Simplifi vs Truebill examines the strengths of each platform to help you determine which solution best aligns with your financial habits and priorities. 

Comparing Simplifi Vs Truebill: At A Glance

Features 

Simplifi 

Truebill 

Budgeting 

Spending Plan with real-time updates, custom categories, and 12-month projections 

Monthly spending allocation with category-based goals and alerts 

Saving/Financial Goals 

Manual goal setup with target amount/date, progress tracking, and planned contributions integrated into the budget 

Automated savings transfers based on account balance and savings style (Comfy, Moderate, Aggressive) 

Account Aggregation 

OAuth/API-based syncing with 14,000+ financial institutions; nightly balance and transaction updates 

Plaid-based account linking across banks, credit cards, loans, and investments; real-time balances and shared access for Premium users 

Spending Tracking 

Categorized breakdowns of spending, editable transactions, colorful visuals, and long-term projections 

Transaction categorization, top spending alerts, and tailored notifications (e.g., low balance, upcoming charges) 

Subscription Management 

Recurring transaction tracking with frequency, amount, and schedule customization 

Smart detection of active subscriptions, recurring calendar views, and concierge cancellation service for Premium users 

Pricing 

Available at $5.99/month (billed annually) 

Starts from $6-$12/month 

What Is Simplifi?

Simplifi by Quicken is a user-friendly personal finance software. It helps people manage their money more efficiently with dynamic budgeting, real-time account tracking, and goal setting. 

The platform supports over 14,000 financial institutions and provides extensive access to your finances by automatically syncing and categorizing transactions. 

Unique Features Of Simplifi 

  • Customizable Spending Plans: Adapts automatically depending on income, bills, and goals, providing daily spending insights and assistance for all budgeting styles, including planned expenses and savings 
  • Retirement Planner: Predicts your savings growth over time, displays percentile-based outcomes, and allows you to adjust variables to visualize different retirement scenarios from the web app 
  • Planned Spending Rollover: Automatically carries leftover over-or-underspent amounts in eligible categories into the next month, maintaining your original budget allocation and automating rollover setup for smooth monthly planning 

Pros And Cons 

Pros 

  • Robust transaction management lets you view, categorize, and update transactions with ease for precise budgeting and real-time financial visibility 
  • Ad-free experience with no ads upsells and product promotions, allowing you to focus on your budget 
  • Helpful financial insights help you stay on track with clear, integrated views of your spending plans, upcoming payments, and savings goals 

Cons 

  • Investment tracking is basic, and the platform lacks dedicated features for creating or managing debt payoff plans  
  • Savings goals are not linked to live bank accounts, requiring manual monitoring and adjustments 

What Is Truebill?

Truebill software, now known as Rocket Money, is a comprehensive personal finance application designed to help users manage subscriptions, reduce bills, and improve their budgeting.   

The software automatically recognizes recurring transactions and provides one-touch cancelation, making it extremely useful for lowering unnecessary expenses. 

Unique Features Of Truebill 

  • Financial Goals: Intelligently transfers a small amount from your checking to a savings account (held with an FDIC-insured partner) based on your balance and preferred frequency (Comfort, Moderate, or Aggressive) to reach your goals without overdraft fees 
  • Bill Negotiation: Allows you to reduce recurring expenses (such as phone, cable, or internet) by having their concierge staff intervene on your behalf; this service is also available to free tier users. This saves users the time and effort of negotiating on their own 
  • Subscription Cancellation Concierge: Makes it easy to cancel unwanted recurring charges without lifting a finger. The app automatically detects active subscriptions and displays them in a single ‘Recurring’ view. When you pick ‘Cancel This for Me,’ the concierge service takes over and completes the cancellation process for you 

Pros And Cons 

Pros 

  • Visual financial insights make it easy to understand spending, budgeting, and savings trends through intuitive charts and tables 
  • Real-time credit and asset monitoring helps you stay informed via up-to-date credit profile and total net worth tracking  
  • Concierge services for automating bill negotiation and cancellations are valuable to save time and money  

Cons 

  • Lacks robust tools for monitoring portfolios and analyzing investment performance 
  • Does not offer downloadable or traditional statement-style reports for budgeting or tax purposes 

Simplifi Vs Truebill: Key Features Comparison

1. Budgeting

Quicken Simplifi’s budgeting system, also known as the ’Spending Plan,' automatically analyzes user income, recurring bills, subscriptions, savings goals, and variable expenses to provide a real-time view of what’s left to spend each month. It breaks the budget into 'Income after Bills and Savings,' 'Planned Spending,' 'Other Spending,' and 'Available,' updating daily and allowing users to customize categories, amounts, and even project budgets up to 12 months ahead.

On the other hand, Truebill helps users manage their spending by automatically analyzing transactions to calculate a monthly spending allocation and displaying historical patterns for important categories. It allows them to establish specific goals for essential costs, automatically tracks their progress, and informs them when they're about to reach a limit.

This straightforward, data-driven approach ensures that users remain on track and make educated decisions to achieve their financial objectives.

Winner: Quicken Simplifi, for its deeper customization and long-term budget projections, gives it an edge over Truebill’s more basic monthly tracking.

2. Saving/Financial Goals

Simplifi by Quicken enables users to set personalized savings goals, whether for vacations, emergencies, or major purchases, by specifying their target amount and due date. Once a goal is set, Simplifi calculates the ideal contribution schedule and splits the money into their Spending Plan for clarity.

Users can manually contribute from specified accounts, withdraw funds if priorities change, and track progress using intuitive visuals, all from their mobile or web device.

On the contrary, Truebill’s Financial Goals module automates savings by analyzing user account balances and identifying optimal times to transfer money into an FDIC‑insured savings account. Set a goal and choose a savings frequency (Comfy, Moderate, or Aggressive), and the app takes care of the rest.

Users can maintain full control to pause, withdraw, or adjust for transfers at any time. Its hands‑off setup effortlessly helps grow savings without risking overdrafts.

Winner: Truebill, due to its automated, balance-aware savings that make it more hands-off and proactive than Simplifi’s manual goal contributions.

3. Account Aggregation

Quicken Simplifi uses OAuth/API to securely connect to financial institutions, enabling users to integrate their bank, savings, credit cards, loans, and other accounts. Once linked, balances and transactions are automatically updated each night, offering a real-time overview of your accounts.

The connection is totally read-only, which means Simplifi can import data but not make changes, and trusted aggregation partners secure all credentials.

Truebill enables users to securely consolidate all their financial accounts, including checking, savings, credit cards, loans, and investments, using Plaid. It provides a comprehensive view of their money in a single dashboard. Transactions and balances are automatically imported, giving real-time data on income, expenditure, recurring charges, and net worth.

Premium users can leverage additional features such as balance syncing and shared access for joint household budgeting and subscription management.

Winner: Truebill, for its added features, such as partner access and balance sync, which give it an edge over Simplifi’s basic aggregation setup.

4. Spending Tracking

Quicken provides real-time spending visibility by categorizing your financial activity as ‘Income’, followed by bills, planned spending, other Spending, and available funds. Each section is expandable, allowing you to view and edit underlying transactions while on the go.

Colorful bubbles represent category expenditure, while custom adjustments, even eliminating transfers, provide complete control. Additionally, you can predict finances up to 12 months ahead right from your phone.

On the other hand, Truebill's 'Spending Insights' module provides real-time insight into your money flow by categorizing transactions across linked accounts and highlighting top spending areas. To keep you on top of things, the app sends you tailored alerts, such as low-balance warnings and upcoming charges.

With a simple analysis of spending habits and instant insights into where you can cut back, Truebill enables smarter money management and greater goal attainment.

Winner: Simplifi, with more detailed tracking, editable transactions, and 12-month projections for stronger control over spending.

5. Subscription Tracking

Quicken Simplifi offers subscription management as part of its recurring transactions module. It allows users to easily track and manage all recurring charges (bills or subscriptions) via a single interface. Users can mark any expense as recurring, set its frequency (monthly, quarterly, annually, etc.), and modify parameters such as type, amount, and schedule.

Once a recurring entry is created, Simplifi automatically identifies and matches subsequent transactions, and you can quickly update, postpone, or cancel them immediately.

Truebill combines recurring payments, bills, and subscriptions into a single 'Recurring' dashboard with three views: Upcoming, All, and Calendar. It intelligently detects active subscriptions, notifies you of future payments to avoid late fees, and allows you to manually add or change entries for greater control.

Premium members have access to a comprehensive ‘Subscription Cancellation Concierge’ that can cancel undesirable services on their behalf.

Winner: Truebill, with its smart detection, calendar views, and cancellation concierge, offers it a clear advantage over Simplifi's basic subscription tracking feature.

Simplifi Vs Truebill: Pricing Comparison

Quicken Simplifi offers a single pricing plan at $5.99/ month (billed annually) and includes a 30-day money-back guarantee. 

The plan includes budgeting, savings objectives, reporting, investment tracking, and net worth monitoring, making it a cost-effective and comprehensive solution for everyday personal finance. 

Disclaimer: The pricing is subject to change.

Truebill offers a free basic plan that includes account linking, balance alerts, subscription management, spend tracking, and credit monitoring. Its Premium tier, unlocked via a flexible slider, ranges from $6 to $12/month with a 7-day free trial. 

It features advanced options, including subscription cancellations, bill negotiation, advanced budgeting, net-worth tracking, financial objectives, shared accounts, and live chat assistance. 

Disclaimer: The pricing is subject to change.  

Which Personal Finance App Should You Choose?

Simplifi and Truebill provide robust tools for personal accounting and financial management, but their strengths are tailored to different user preferences. If you're looking for a structured, hands-on approach to budgeting with extensive customization, 12-month predictions, and clear visualizations, Simplifi is the better option.  

Truebill (Rocket Money), on the other hand, provides additional ease in terms of automation, subscription cancellation options, and easy savings. Ultimately, your decision should be based on whether you prefer manual control, automation, or a concierge service.