Forget spreadsheets: This AI assistant manages your finances with just a text

Personal finance apps used to feel like an exciting new way to get your financial house in order.Now, nearly two decades on, consumers are getting wallet fatigue as multiple apps are required to cover feature gaps in their primary platformA 2023 study from J.D.

Power and Associates found that many providers of more advanced personal finance management tools had trouble connecting with users.It’s not surprising: Quality financial advice is often complicated, and apps, however elegant their designs, must squeeze a massive amount of information into one interface.But it’s also a bedrock truth that tracking what comes in and goes out of your accounts gives you the information needed to make better decisions.

The Consumer Financial Protection Bureau says monitoring spending can clarify your habits and help you make choices that support your financial goals.That is where Rowan by Rocket Money comes in.Rowan is an AI-powered personal finance assistant that lives in your text messages, watches your connected finances and reaches out when something deserves your attention.Rowan is not a standalone app, and it does not replace the Rocket Money app.

Instead, it offers another way to use Rocket Money without learning a new interface or developing another digital habit.Rowan’s headline feature is its ability to reach out first.Each week, it can text you a spending summary with updates on recent transactions, your budget and areas that may deserve a closer look.Those weekly texts turn money management into a regular check-in with a knowledgeable voice instead of a monthly reckoning with a spreadsheet.

Rowan can also send alerts when your balance is low, when a new subscription is detected or when the price of a recurring service increases.You can respond by asking questions about your finances.Rowan can explain recent spending, help categorize a transaction through text, identify subscriptions that may be eligible for cancellation and estimate how much may be safe to s...