Feature Friday: Ignored Transactions

Happy Holidays! Typically, we're in the business of telling you not to ignore your transactions but today's Feature Friday explains why some transactions should be ignored - and why it can be helpful for organizing your finances.

The transactions on your bank statement can be divided into two broad categories: income and spending. This normally means that any money coming into the account is income and any money going out of the account is spending, but this is not always the case. There are several instances where positive or negative transactions don’t actually mean that you are making or spending money.

For example, when you transfer money from your savings account into your checking account, your bank shows transactions of the money moving. Even though your checking account has an income transaction and your savings account has a spending transaction, you have not actually made or spent any money.

Another good example is your credit card payment. Your transactions on your credit card (purchases like groceries, gas, and clothes) are what make up your spending, not transferring the payment from your checking account. Ignoring a credit card payment is how Rocket Money makes sure your spending doesn't look doubled.

This is where ignored transactions come in! Rocket Money is smart enough to recognize situations like this and assign those transactions to ignored categories. This way, those transactions are still there for you to review, but they don’t mess with your spending or income totals.

These are the kinds of transactions Rocket Money automatically ignores:

• Credit Card Payments
• Investment Transfers
• Internal Transfers
• Savings Transfers
• Reimbursement

You can also determine other transactions that you want to ignore. We see this used most often with a large, one-time purchase that would make your spending seem much higher than it was. Say you are on a business trip and pick up a quick meal between flights that will be reimbursed later. You can set the meal purchase transaction to be ignored from your budget so that it doesn’t count towards your Dining & Drinks total for the month!

To ignore a transaction on the mobile app:

1. Navigate to the Transactions tab
2. Tap on the transaction you wish to ignore.
3. Next, select the Ignore option.
4. From there, select one of the two options
   1. Ignore from Budgets
   2. Ignore from Everything
5. Finally, confirm by tapping Apply to 1 transaction (this will update to the number of transactions you've selected)

We want to hear from you! How are you wrapping up 2025, and what are your goals for the new year?