Trim is a new app that helps you save money by automating your savings. It tells you what you should be saving, how much it costs, and when to transfer the funds into your bank account.
Trim Review 2021 is a company that has been in the business of negotiating bills for years. They have a large amount of experience and can help you save money on your monthly expenses.
Do you realize how much money you spend each month on subscriptions? I’m sure you’d have trouble putting a precise figure on it. I’m sure I would.
Consider the following: video streaming, food, music, software, games, websites, the internet, phone services, and so on. Despite the fact that none of these memberships are very costly, they add up.
Subscriptions are good provided the services you’ve signed up for provide value. However, if you have forgotten about one or don’t use a service as often as you used to, canceling it may be beneficial.
Do you wish there was a simple method to view all of your subscriptions and have the ones you don’t use immediately cancelled?
Trim comes in handy in this situation. The service examines your bank statement for subscriptions and cancels them on your behalf. It also includes a number of additional cost-cutting features.
This Trim review will tell you all you need to know about it.
What exactly is Trim?
Trim is a tool that assists you in gaining financial control. Trim’s primary function is to terminate your subscriptions. You provide the service access to your bank account, and it then examines your statements for reoccurring transactions.
Trim will then ask whether you want to cancel these services, and if you do, it will do the transaction for you. It’s very simple to use and extremely beneficial.
Trim is a chatbot, which makes it stand apart. This implies you won’t need to download anything in order to utilize it. It communicates with you instead through text message or Facebook Messenger.
Trim can negotiate contracts on your behalf to help reduce your monthly expenses, pay off debt, and automate your savings, in addition to its account cancellation capabilities – pretty much everything you need to keep track of your money.
What is Trim and How Does It Work?
Trim is very simple to get started with. The following is how it works:
1. Use your bank account or email address to sign up for Trim.
2. Make a connection between your bank account and your credit card. (Trim works with over 15,000 banking institutions in the United States, so you should be OK no matter where you bank.)
Trim will go through your account to see if there are any reoccurring charges.
4. When Trim discovers a subscription, it sends you a message asking whether you want to cancel it. If it is something you value, you may either agree to cancel or opt to keep paying.
5. If you accept to let Trim terminate your membership, the procedure will be handled immediately.
6. Trim may be unable to terminate a contract on certain occasions. You’ll have to manually terminate it in this instance. Trim, on the other hand, is still useful in this situation since it exposes the needless expense.
7. Experiment with some of the tool’s other applications.
Features of the Trim
Trim offers a number of features that assist you in saving money. Some, such as terminating a membership, are totally free. Others, such as bill negotiations, will take a percentage of any money saved as a commission. Trim Premium, a $99 annual subscription service, is also available.
Negotiation of Bills
Many individuals are unaware that they may negotiate many of their expenses. While you won’t be able to obtain a discount on Netflix, the cost of your cable, internet, phone, utilities, and medical expenses aren’t always fixed. Trim may bargain with these service providers on your behalf to offer you a better price.
It’s possible to save a lot of money. Trim, for example, claims to be able to help you save up to 30% on specific expenses. Using its bill savings calculator, you may obtain an idea of how much the service might save you. Individual bill price reductions may add up to hundreds of dollars in savings over time.
It is simple to utilize the service. Simply give Trim with your contract information, and one of Trim’s negotiators will contact your provider to present your case.
This functionality does have a drawback. Trim gets 33 percent of the yearly savings when it successfully negotiates a reduction, and it usually collects the money as a one-time payment up front. This implies that you will be required to pay before you can enjoy the advantages.
Nothing prevents you from contacting all of these businesses and arranging your own agreements. You’ll receive the entire discount and won’t have to pay the up-front charge if you do it this way.
Is this something you’re willing to do? Many of us don’t have the time or knowledge to successfully bargain. For those in this position, or who are particularly uncomfortable dealing with salesmen trained to overcome concerns and retain clients, the 33 percent charge is well worth it, since you will still save money on your bill.
Trim’s help desk suggests that paying in installments may be a possibility in certain instances if you are unable to pay the up-front cost for this service. However, in order to use this option, you must contact the business directly through email.
Unwanted Subscriptions Cancelled
Trim’s primary feature is the ability to cancel unnecessary subscriptions. If you give the service access to your bank account information, it will check your accounts for subscriptions and notify you by SMS or Facebook Messenger. Simply respond to their mail stating that you wish to discontinue the membership. That’s all there is to it.
This has the advantage of allowing you to identify:
- You’re still paying for subscriptions you’ve forgotten about.
- Subscriptions that have increased in cost since you initially subscribed. You can make a better choice about whether the membership is still worth paying for by being informed about the pricing.
- When you are charged by a business after a trial has ended. If you don’t want to keep paying, Trim will notify you to cancel your membership.
Analysis of Spending
Trim’s spending analysis tool examines all of your transactions and shows you how much you spend at various locations. It does not immediately result in savings, but it does help you acquire a better understanding of your spending patterns.
Savings Made Easy
Simple savings is a kind of savings account that allows you to set up automatic transfers from your checking account, making it simple to save the amount you want every week. On the first $2,000 you save, the account pays a very attractive 4% interest return. Only paid users have access to it.
APRs and bank fees are lower.
Trim monitors overdraft costs and notifies you when they occur. It also aids you in battling any fees in order to reduce your expenses.
Trim assists you in lowering your APR and realizing additional savings by negotiating your APR.
Trim’s premium service gives you unrestricted email contact to their financial advisors for any questions you may have.
You may now pay your credit card automatically. TrimPay is a tool that allows you to set up automatic transfers to your credit card to help you pay off your debt quicker.
Notifications & Alerts
Trim allows you to create a number of notifications to assist you in keeping track of your money. You may set up alerts to notify you of the following:
- When the invoices start to arrive, make sure you’re prepared for any costs.
- When you’re due to get paid, so you’ll know when your money will arrive.
- When your bank account balance falls below a certain threshold.
- When you spend more than a certain amount.
How Can Trim Help You Save Money?
Trim’s features assist you in lowering your outgoing payments and increasing your financial visibility.
Expenses should be reduced.
Trim’s main advantage is that it assists you in reducing your expenditure. You may possibly save tens of dollars per month and hundreds of dollars per year by canceling unneeded and forgotten services, lowering the price of overpaying payments, and avoiding overdraft fees.
Make a Better Budget
Trim also gives you greater insight into your money, allowing you to better budget. There are no more financial shocks by telling you when your money is running low, when payments are due, or when you are going to get paid. In the end, it aids you in regaining control of your finances.
Make a fortune
Trim’s savings account is a great way to get into the habit of saving. You may create money without thinking about it by automating weekly savings. It also lessens the desire to spend money instead of saving it. Trim’s 4% interest rate on your first $2,000 is a big perk.
- The simplest functionalities are available for free.
- Bill negotiation is costly, but only if the business is effective in saving you money.
- Chatbot-based solution that is simple to use
- Trim is a tried and true method to save money.
- You must provide the service access to your bank account, which may be problematic for certain people.
- If you are prepared to put in the effort, you can accomplish everything Trim does on your own.
- Some of the features are fee-based.
Trim is for whom?
Trim is for anybody who wishes to regain financial control. Try Trim if you’re concerned about losing track of your membership payments and want a simple method to cancel them.
It’s also a fantastic choice for individuals who are in debt and want a customized strategy to assist them reclaim their independence. People who want to negotiate the price of their bills and are willing to pay someone else to do it will benefit as well.
Trim isn’t for everyone.
Trim may not provide much advantages if you are already well-organized and on top of your money. While Trim is a safe and reliable service, if you don’t want to allow a third party access to your bank account, you should seek for another option.
Trim is mostly free to use, although there are a few paid features. Bill negotiating is charged on a commission basis, while the other services are included with Trim Premium, which costs $99 per year.
You may utilize the following free trimming features:
- Dashboard for personal finances
- Spending reminders and notifications that are tailored to you
- Overdraft fees are detected and, when feasible, combated.
- Unwanted subscriptions are located and cancelled.
The following are some of the trim features that you will have to pay for:
- Negotiation of the bill (but you only pay if the company successfully negotiates a better deal).
- You’ll have access to a financial advisor.
- TrimPay is a credit card payment automation function.
Alternatives to Trim
Trim, like many other money-saving applications and services, has competitors. Here are two of the most significant.
Truebill claims to assist you in canceling unnecessary subscriptions and negotiating reduced bill rates.
Truebill only cancels subscriptions if you are a premium member, despite the fact that you may join up for the service for free to get insight into your financial position. Truebill customers may upgrade to a premium service for $3 to $12 per month, which includes features like premium chat access and budgeting.
Truebill charges 40% for its negotiating service, whereas Trim charges just 33%. It, like Trim, only accepts payment if it is successful in negotiating a reduction.
To discover more, read our complete Truebill review or compare Trim vs. Truebill to see which service is right for you.
Billshark is a service that specializes in bill negotiation. To use Billshark, just submit your contract information, and the specialists at Billshark will contact the various businesses on your behalf to get your savings. It claims to have a 90% success rate, and the company’s website boasts that one client saved $9,500 using the service.
Before you use Billshark, it includes a savings calculator that tells you how much you can save. When Billshark successfully negotiates a fee, it charges a one-time fee of 40%. Billshark may also be used to cancel subscriptions at a fee of $9 per cancellation.
To discover more, read our Billshark review in its entirety.
The following are some of the most commonly asked Trim questions, along with our responses.
Trim makes money in a variety of ways.
Trim generates money by charging customers an annual subscription for its Trim Premium service. It also profiteers from the characteristic of bill negotiation (it takes a 33 percent cut of any money it saves).
Trim may suggest financial items such as credit cards on occasion. Trim will earn a commission if you join up for one of these items via a Trim link.
Is there a Trim Free option?
Trim’s basic functions are available for free. These tools provide you a lot of options for saving money by lowering your subscription and overdraft fees. Other services, on the other hand, are not free. Whether or whether they are worthwhile depends on how much money you believe they will save you.
Is it safe to trim your hair?
Many individuals are concerned about Trim since it asks users to provide access to their bank accounts to the business. While this is a valid worry (you should always be cautious about who you share your information with), Trim takes numerous precautions to keep you secure.
It protects your data with bank-grade 256-bit encryption. It also uses two-factor authentication for logins, making it far more difficult for hackers to access your account even if they know your user name and password.
Trim will never have access to your online banking information, and your account information will never touch the company’s computers. Plaid, a service that links directly to your bank account, is used instead.
How does Trim make use of my information?
Trim claims to solely utilize the information you provide with them for their own services. It does not share your information with anybody else. All of the data is stored on servers with bank-level security.
Trimming is a simple and efficient method to save money. If you’re concerned about the amount of subscription costs that are impacting your bank account each month, Trim’s subscription finder tool is worth a go.
The premium services are beneficial, but whether they are worth the money depends depend on your circumstances. The negotiating service, for example, is a risk-free method to save money. However, you may avoid paying a commission by negotiating your own agreements with your service providers. It all comes down to whether you’re willing to put in the effort to negotiate prices and if you’re confident in your ability to do so effectively.
Trim Premium needs a one-time payment. This may be worthwhile if you believe the features will save you more money than the fee they take from the savings you get.
The is trim safe is a question that many people ask. In this article, we will explore the answer to this question with the help of an example.
Frequently Asked Questions
Does trim really save money?
It is true that trimming your hair can save you money, but it is not the only thing that saves you money. If you shave and then trim your hair, or if you use a cheaper shampoo and conditioner, this will also save you some money.
Why does trim need my bank account?
To be able to pay for the monthly fees associated with being a moderator.
Is Truebill or trim better?
Truebill is a better option for users who want to manage their subscriptions and bills. For example, if you have a Netflix subscription, you will be able to keep track of your monthly payments with Truebill.
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