In this day and age of supreme consumerism and premium pricing, saving money can be actually a hassle. But with the help of Trim, a finance maintenance automation app, the user is introduced to a variety of options using which money can be saved. Finance based apps are plenty available in the market. However, Trim is an app that can truly ensure you save a sizable amount and not just a few dollars.
What is the Trim Finance App?
The Trim app comes equipped with a highly powerful AI tool that analyzes the user’s spending pattern. You can link your account to the app and thus it will get to know about your various bills and how much you are likely to spend in each sector. Once it has a good knowledge of your entire spending pattern Trim will find the various avenues where your money is being wasted unnecessarily. These include various subscriptions that you rarely use, better insurance options, and even locate sectors where you are spending an overt amount of cash.
Another great feature of Trim is its ability to negotiate your bills. The app is connected to various major internet and cable subscription services, and it can actively ensure that your unused data and services are not binge paid for. This can save a user a huge amount of money. Users have been known to save up to $200 only on their bills with the help of Trim.
The entire money saving process can be automated so once you have located the sectors where you can actively save money; the app can keep doing it for you. What’s more is that the money you save is always being kept in a secure account. Trim uses bank-level account security to ensure that your money is always safe. Other features of the app include finance related expert advice, creation of debt payoff plan, and also lowering of the APR. So, Trim also doubles down as a debt payoff platform.
The app is rather easy to use and if used properly can save a lot of money in the long run. The money can be accessed at any point so you always have an emergency fund standing by. Users have been known to save huge amounts using Trim and many have also successfully paid off their debts with low APRs. Trim is a great app for anyone who is unable to control their finances and require professional help.
Trim Pricing and Fees
Trim cost between $3 – $10 per month depending on what account and plan you decide to go with.
Save Money With Trim
The inability to save money is due to our expenditure pattern, the lack of time, and ease of access. E-payments ensure that we can pay without any hassle, and since the time schedule of a common person is highly busy the ability to always remember how much is being spent is almost lost. As a result, our expenditure patterns become erratic, without any acute plan or control.
Trim takes care of all of these factors and thus ensure that your money is saved. All you are required to do is link your primary bank account to the app. Following this the app will use its AI processes to analyze your entire expenditure pattern and get to know everywhere you are spending more money than required. We all have subscriptions to various apps and networks that we rarely use. It can be an Adobe subscription or a Mubi subscription. Trim finds all such subscriptions and unfollows them as required. In this way, it ensures that you are not paying for things that are not required.
Additionally, it finds insurance options that are cheaper than your current ones. Trim searches across a range of car, home, and various other insurances and finds the ones that fit your needs and have cheaper rates. So automatically your monthly expenditure is reduced. And once all such areas have been identified and you are happy with the amount you are being able to save, you have the option to set the automatic saving mode on. This will ensure that the saving pattern you have selected is repeated every time payments are made. Trim is highly efficient in taking care of your finances without you having to analyze everything for yourself and this is perhaps one of the best features of this app.
Another way in which Trim saves your money is through a negotiation process. We all use internet and cable subscriptions and feel that we are paying more than we use. Trim has the ability to negotiate your bill with your subscriber. Since the app is connected to most of the major cable and internet providers such as Comcast, Time Warner, Charter, etc., it can actively ensure that you don’t have to pay for any part of the services that you are not using. This can, in turn, save hundreds of dollars in the long run.
Debt payoff with Trim
Trim can also be used as a means to pay off your debt and also in the most economical way possible. The money you save using Trim will be deposited into a secure account so it can be used to pay off your standing debts. Alternatively, it can also be used as an emergency fund but if you plan to pay off your debts with it Trim can set up an optimized plan for you. This plan will fit into your expenditure pattern and not lead you to have an economic crisis in order to pay back even the largest of debts.
Trim also comes with an advice feature. It connects you to a pool of finance experts who review your debt amount and expenditure pattern and provide you with professional advice regarding what your payment plan should be. Additionally, Trim can reduce your APR and ensure that you save money even when you are paying back your debts. So, by setting up a debt repayment plan with Trim you will not only be able to be access hassle-free debt clearance option but you will also save money.
And if you are ever worried about where your liquid money is being stored, Trim uses a 256 bit SSL encryption added with two-factor authentication to protect its accounts. This is the same level of security that any bank uses to protect its accounts. So, you can always be assured that your money will remain intact and your debts will be repaid in time.
Trim Pros & Cons
Pros
- Provides deep financial analysis
- Automated saving mechanism
- Bill amount reduction
- Safe to use
- Protected accounts
- Debt payment plans
- Lowered insurances and APRs
- Easy to use UI
Cons
- Single user accounts
- No smartphone app available
Summary
Trim is a great app to use for anyone who is unable to take care of their finances, and that number is quite huge. The app can actively ensure that you save money on all fronts and create an expenditure pattern that is highly optimized. Its ability to locate useless subscriptions is highly useful since this is one way in which many users unknowingly spend their money. And the fact that the app can reduce your bill amount is an amazing factor and makes Trim a must use app for everyone. The automated savings plans are also a great feature to use for the busy patron of the modern age.
The money that Trim saves for you is always made available for you. So, you can trust the app to hold onto your savings and use it when necessary. This can be for emergencies, paying off insurances, or even clearing debts. The debt clearance options in Trim also help a user gain an upper hand on their finances. You can easily clear any debts with the lowest of APR and this, in turn, saves you more money. Moreover, Trim is a great app for anyone who needs to save money and create a backup fund for paying off various outstanding balances.
The security factor plays in the app’s favor, making it safer to use than most finance-related apps. The company has ensured that its customers trust the services and in turn, they have saved millions of dollars cumulatively for its users.
Common Trim Investing Questions
These are the most popular questions investors have about the Trim Personal Finance Assistant.
Can Trim reduce my bills?
Trim is connected to most of the major telecom service providers such as Comcast, Time Warner, etc. If you have a subscription from any such provider then Trim can negotiate the bill amount with your provider based on your usage pattern. If you are using the services less than what you are paying for then Trim can actively ensure that you don’t have to pay an extra amount.
Can Trim be set to automatic savings mode?
Once the app has located all the savings areas and a pattern has been created, the user may turn on the automatic saving mode which will continue to save based on the pattern created.
How does Trim reduce debts?
Trim does not necessarily reduce debts but ensures that you don’t have to pay a high APR and also devices a payment plan that does not pressurize your financial capabilities. Furthermore, the money saved with Trim can be used to pay back the debts thereby creating a plan that provides hassle-free debt repayment options.
What kind of protection does Trim use on its accounts?
All Trim accounts are protected using 256 bit SSL encryptions, two-factor authentication process, and read-only access. This is the same grade of protection that most major banks use on their accounts.
Can Trim find better insurance plans?
Yes, one of the processes Trim uses to save your money is finding a better insurance plan with a lower rate. This includes home insurance, car insurances, health insurances, etc.