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How to: Set up a savings plan
How to: Set up a savings plan

Learn how to set-up a savings plan with Rocket Money.

Francis avatar
Written by Francis
Updated over a week ago

Getting Started

You are only able to create a savings plan within the Rocket Money app. Managing this feature is not available on our website.

  1. On the Dashboard scroll to your account balances and tap on the Savings row to expand it

  2. If this is your Rocket Money savings plan, select Start + next to Autopilot Savings. If you already have a Smart Savings account, you can select + New Goal right below your pre-existing account

  3. Choose a plan. There are three options that you can choose from:

    1. Emergency Fund: Having $1,000 in savings can be a life saver for unexpected financial bumps. The Emergency Fund plan assists you in building your $1,000 quickly and easily.

    2. Safety Net: A Safety Net, which is 3 months worth of expenses, is your next step in the savings journey once your Emergency Fund has been fully funded. This will keep you financially stable in times of need.

    3. Custom: Everyone has different savings goals! If you're looking to save for upcoming education, vacation, major life events, etc. you can create your own savings goal.

  4. After selecting your plan, decide how you'd like to save. There are two options:

    1. Smart Savings: Our intelligent AI transfers small amount to your Rocket Money Savings account every few days. This is an easy way to fund your savings and our overdraft prevention system ensures that we never transfer more than you can afford

    2. Custom: Choose how much and how often you'd like to transfer savings into your Rocket Money Savings account.

  5. To finish setting up your account, you'll need to confirm your legal name and then select the checking account you'd like to fund your savings plan with.

  6. Review your account set up, agree to the terms of service and then select Activate Savings.

Please note that not all checking accounts are compatible with Smart Savings. Our support team can double check this for you if you are not able to open a savings plan with your preferred checking account. Just let us know the name of the bank.

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