★ Rockstar Review: Trim (An Automated Savings Assistant)

Posted June 6, 2017 6:00 am by with 2 comments

Review of: Trim
Price:
Free

Reviewed by:
Rating:
5
On June 6, 2017
Last modified:June 16, 2017

Summary:

A service for anyone looking for a (free) way to save money on subscription services, recurring charges, shopping or their cable bill.

trim money savings

This is part of our Rockstar Reviews series.
Be sure to check out all previous products we’ve reviewed!

trim bot
rockstar rating 4 stars

Who it’s for: Anyone looking for a (free) way to save money on subscription services, recurring charges, shopping or their cable bill.

Ease of use: Really easy to use. Everything’s done via Facebook Messenger or SMS text messaging (they’re an “AI chatbot” not an app)

What we like about it: It takes automaton of saving money to a whole new level, while cutting back your expenses and giving you direct access to all your account information. Also gives super clear messages and easy to use commands, while not taking up any space on your phone at all (since they’re not an app).

What we don’t like about it: Some features are still in beta mode.

Where to find them:

AskTrim.com || FREE

[Hey guys! Brian stops by the site today to share his experience and tips using Trim – an AI chatbot that helps you automate and *find* extra savings. Hope it helps!]

Trim: An Automated Savings Assistant!

I‘m a big fan of saving money, and my guess is you might be too. I also like to keep things simple. I automate my saving with the pay yourself first rule, and then look for tools to help me save even more money automatically.

Take a look at this screenshot of my phone:

trim messages screen

I was out this weekend and made a planned purchase and boom! Within a few minutes of the transaction, I received the above message:

“Your recent purchase with your linked Visa card earned you a $1.00 statement credit.”

Free money without doing any work! Why did I get this? Because I use a money-saving tool called Trim.

About Trim

Trim is a personal financial assistant that saves money for you. One of the key personal finance principals is automation, and Trim does just that. Trim analyzes your transaction history to show you all of your subscriptions, then gives you the option to cancel anything you don’t want to keep paying for.

Trim was born after their co-founders Thomas Smyth and Daniel Petkevich went looking at their own credit card bills. Thomas had subscriptions to Hulu and Vimeo, neither of which he used. Dan was paying monthly for MailChimp, and worse yet, a renter’s insurance policy for an apartment he moved out of a year ago. They considered themselves to be responsible, financially savvy people. How did this happen?

trim cancel subscription

Trim is Not an App

It’s important to note that Trim is not an app-app, but rather an Artificial Intelligence “chatbot” service solely used via Facebook Messenger or SMS text. Trim features bank level security and uses 256-bit SSL encryption on their website, encrypted databases, and two-factor authentication when you sign in. Your data is only used for you: they don’t sell it. They safeguard your data using security at all times.

Trim’s Arsenal of Tools

Trim offers three main tools to help you save the most money:

#1. Trim Financial Manager

Users sign up through Facebook or SMS text, enter their online banking credentials (username and PW) and then it connects successfully to one of their financial institutions. Once sign up is complete, Trim will begin analyzing your account.

Here are some of the things you can do:

  • Cancel your old subscriptions
  • Set spending alerts
  • Get your balance
  • Find out how much you spent on Netflix last month
  • Automatically fight fees with your bank

All of these features are done via Facebook Messenger chat bot or SMS chat bot. Currently, Trim has over 850,000 active users utilizing this Financial Manager service. You can learn more here.

#2. Trim Savings

Users sign up via Facebook (must have FB messenger), and enter the info for the Visa card you use for all your grocery shopping. Once sign up is complete, Trim will begin analyzing your account.

Here are some of the things you can get with this free service:

  • Coupons that auto magically get applied to your Visa card
  • Groceries: $1 on any purchase > $5 (you’ll receive 10 of these–a total of $10)
  • Dining: $1 on any purchase > $5 (you’ll receive 10 of these–a total of $10)
  • Movies: $10 on any purchase > $20 (you will receive only once)

The cumulative value of the coupons / discounts / cashback from Trim Savings = $40. You can learn more about Trim Savings here.

trim active offers

#3. Trim Bill Negotiator – Comcast

Users again sign up via Facebook or SMS. The user is required to input their Comcast credentials and credit card they use to pay their Comcast bill. Trim then begins the negotiation.

  • If they successfully negotiate your Comcast bill, you will save between $5 and $50 a month (they take 25% of the first month’s savings as a commission)
  • If they are unsuccessful, you don’t receive any savings, and Trim doesn’t receive any payments.

You can learn more about Trim’s Bill Negotiator here.

Trim Price Patrol

One of the other tools Trim features is Price Patrol for Amazon. By linking your Amazon account and purchase card, Trim will fetch your past Amazon orders and their current prices. If a price drop is found, Trim gets you a refund for the difference (similar to the app Paribus, if you’ve ever heard of them?).

This feature is currently in beta mode. Trim expects to have this functionality fully released in the coming weeks.

trim amazon price patrol

Overall Pros and Cons

Here are the overall pros and cons to using Trim:

Pros:

  • Saves you money
  • Reminds you of reccurring subscription services and provides an easy way to cancel them
  • Negotiates bills for you, so you don’t have too
  • Doesn’t take up space on your smartphone

Cons:

  • Trim Savings only works with Visa
  • Some features are still under development (Price Patrol)
  • Bill Negotiator costs 25% of the first month’s savings

In Summary

I’ve been using Trim for over a year now, and overall they’ve been great at identifying and automating extra savings for me. I would definitely recommend checking them out!

You can give them a shot here: AskTrim.com

Further recommendations: Digit (an app that automatically saves money for you), Tip Yourself (another app that tries to make saving fun), Qapital (an app that helps you save around “rules” and goals), Honey (a browser extension that grabs you online coupons automatically), and Swagbucks (an easy way to earn free gift cards and cash)

*****

About the author: Brian is the founder of DebtDiscipline.com, a site that chronicles his family’s journey with money and how they overcame $109,000 of debt. He’s also on Twitter @DebtDiscipline.

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2 responses to ★ Rockstar Review: Trim (An Automated Savings Assistant)

  1. Mrs. Picky Pincher June 6th, 2017 at 9:14 am

    Oooh yeah I don’t like that they take some of the savings. I wish they could just fund themselves with upgraded pro features instead.

    Reply

    • J. Money June 16th, 2017 at 7:31 am

      At least they only take it *if* they find you savings? And just for the first month? Would suck if you paid for a pro feature and then it saved you $0.00 each month :)

      Reply

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