Trim Review: Legit Way to Lower Bills & Cancel Old Subscriptions (But is it Really Free?)

You’d be surprised at how much money you waste on unused subscriptions (yes, like that old gym membership you never use!)

According to a survey by MyBankTracker, we spend an average of about $500 a year on unused subscriptions.

That’s a lot of money!

That’s where Trim comes in.

Trim is a website with a mission.

That mission is to help you take care of your financial life.

What began as a program that would cancel old subscriptions in 2015, has evolved.

Today, the company has new features, providing more robust financial assistance.

In fact, it is well on its way to offering services that will completely automate your financial life.

More importantly, it can help you get your finances in order without forcing you to go on a complete and total financial diet.

Because the app automates the process of saving you money, you don’t feel like you’re making sacrifices to save.

So what is Ask Trim?

Trim bills itself as the “equivalent of a self-driving car for your financial life.”

It is basically an app that saves you money automatically.

It offers a variety of financial services that help you trim the extra padding from your monthly spending and looks to add even more services in the future.

By the time self-driving cars are a reality for drivers, the company may offer the full financial automation it strives to achieve.

For now, it offers you a straightforward way to go about achieving your financial goals without necessarily feeling the pinch of tightening your belt.

How a woman saved $120 a year in mere seconds…

While researching, I come across tons of reviews from actual users, especially on Reddit.

One Redditor reports that Trim helped her eliminate a $10 monthly fee for a service she subscribed to in college.

She had been paying this fee for several years post-graduation without ever using the service.

She had even forgotten the account existed even though it was charging her credit card each month.

Trim discovered the charge and asked if she wanted to eliminate it.

Then, it handled the cancellation for her.

This simple act saved her $120 per year.

While Trim cannot cancel all memberships as simply as the one for this one user, it can cancel many subscription services with little more than a confirmation text (or Facebook message) from you.

How Trim works

In order for this to work (this is the case with any other app, like TrueBill, that does this) you will need to give it access to your bank accounts and your credit cards.

Once it has this access, it will dig deep searching for recurring charges.

Once it identifies those charges, it will send you a message via Text message or Facebook Messenger asking if you would like to cancel the subscription.

While all cancellations are not this simple, though many are exactly this simple, Trim does at least make you aware of long-forgotten services you are paying for but no longer use.

There is more to Trim than meets the eye though.

The website has only been operating since 2015 and claims to have already saved people more than $8,000,000.

Services Trim offers

It offers other highly beneficial financial services you might be interested in, including the ones listed below.

1. Reduce monthly bills

The software negotiates on your behalf for lower mobile phone, Internet, and cable television rates.

They can do this with a variety of companies and brands. But one of the main ones they mention is Comcast, so they will try to lower your Comcast bill.

You can also allow it to shop around for insurance for your car and home on your behalf looking for better deals than your current coverage provides, helping you to save money on insurance.

2. Spending notifications

If you’re looking to get your financial house in order, Trim can help you track your spending by sending instant notifications whenever your accounts are charged.

How does this help you keep your finances in order?

By keeping track of your spending, and receiving alerts whenever you make purchases, you are more aware of the things you buy and how much money you’re spending.

This awareness helps you curtail reckless spending and forces you to be more conscientious about the things you do buy.

It also provides an added layer of security for your accounts if your account is charged for a purchase you didn’t make.

That gives you the opportunity to take swift action with your bank or credit card company.

3. Price Patrol with Amazon

While this is not guaranteed to get you a refund, the app will automatically patrol Amazon for price drops on purchases you’ve made within the last seven days.

If these drops occur, the software will file the claim with Amazon on your behalf to try to get your money back on the price differences.

This makes saving money on Amazon virtually automated.

4. Account Alerts

In addition to notifying you of your purchases, you can also set it up to notify you:

• If your account balance drops below a certain number you choose
• If late fees are charged
• And if large transactions are made (again you set the threshold).

5. Visa Rebates

Another popular feature is the opportunity to earn cash back rebates with their Visa cards.

Each month there are new offers that come your way.

Meet the requirements of these offers using your Visa card and you will earn cash back.

How does Trim make money?

So if they do all of this for free, how does the company itself makes money?

Well, there are a few ways for them to make money:

For certain features, such as Comcast bill negotiation, they take a percentage of what they successfully save you.

They also earn compensation and referral money from third-party partners, such as credit card issuers, for referring them customers.

That is how they are able to offer their services for free.

Is Trim safe?

In the era of enormous data breaches, security is a concern on everyone’s mind.

This is especially true when you are sharing financial information like bank account and credit card numbers.

The company takes your security very seriously.

In order to protect your financial information, the site uses Plaid, a sophisticated encryption service, to protect your data.

Your personal financial information never reaches Trim servers and isn’t stored on them in any way.

The site also lacks the access to move money to or from your accounts or to make any other changes to your accounts.

Their servers and websites also employ 256-bit SSL encryption for an added layer of protection.

Not only that, the site also requires a two-factor authentication process when you sign up – for your protection.

How much money can you really save?

This is the question weighing heavily on everyone’s minds.

The answer is, it varies.

Think about all the subscription services that charge monthly or annual fees:

• Gym Memberships
• Software Subscriptions
• Movie and Television Service Subscriptions
• Music Subscriptions (iTunes, Spotify, Pandora, etc.)
• Magazine Subscriptions
• Professional Organization Fees
• Credit Monitoring Services
• Identification Protection Services
• Subscription Boxes
• Shave Club Memberships

The list could go on forever.

The more subscriptions you have that are no longer useful to you, the more you stand to save.

Those savings are before you even consider potential savings on cable, insurance, and other recurring expenses.

How to sign up with Trim

Signing up is easy and doesn’t cost a thing.

Step 1: Go to https://www.asktrim.com and fill out the short registration form.

Step 2: You will then be prompted to secure your account by connecting on Messenger or via SMS.

Step 3: Once you’re in, simply add your credit card or bank account information to look for and cancel unwanted subscriptions.

Voila!

The bottom line

Trim has many benefits to offer everyone today.

However, Trim isn’t content with its current list of offerings and is constantly working to add new features and services that will fully automate your financial life, so you can focus on living your life rather than the minutia of paying for it.

So to end this review, I’d say it is definitely worth a try, especially considering that it is free.