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Trim Is the Best Financial App You’re Not Using

The app analyzes your spending, yeah. But its subscription cancellation and bill negotiation features are what really make it worthwhile.

Spooked by the prospect of artificial intelligence? The finance app Trim might change your mind. An AI assistant in the form of a website and friendly text-messaging bot, Trim takes a peek at your finances, analyzes your spending, and finds ways to save you money. But it’s much more than a program that provides a well-designed look at your money in and money out, Trim renegotiates bills, can help you automatically sock away money into savings, and offers debt payoff plans.

Trim’s simplest and most useful feature, however, is that it scans through all of the subscriptions you have, giving you a glimpse of what you’re paying for every month — and letting you easily cancel those you don’t need. Because chances are, you have a subscription or two you  forgot you signed up for and are shelling out five or ten dollars a month to something you don’t need.

The app, much like such financial apps as Digit, needs to sync with your bank and credit card accounts as well as other pertinent financial information. Once that’s complete, Trim begins doing its thing, proposing a total monthly budget based on your earnings and bills that you can approve or adjust. It will then keep you updated about if you’re actually sticking to it. There’s an online portal that shows you everything and a text-based app that sends you occasional updates.

The free budgeting software is pretty light. Other budgeting apps like Mint, Every Dollar, or You Need a Budget, offer a more robust way to keep track. Trim really shines, however, through its other functions. After you sync accounts, Trim scans them for recurring payments and sends you texts about what payments you’re signed up for. It’s nice to have such an overhead view of all the stupid little “ghost” subscriptions you may or may not know you’re paying for each b

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It’s genuinely useful.  I, for instance, had a workout app that was charging me $12 a month for a service I didn’t realize I was signed up for as well as a recurring $9 charge for an old subscription of Microsoft Office 365 I didn’t realize I still had. Yes, it was dumb of me to not know those payments were taking place. But Trim not only clued me into them, but also let me cancel them with a text.

Another useful feature is Trim’s bill negotiation. Upload information about plans and monthly service providers and, without any effort on your part, Trim automatically works to negotiate special discounts to shave money — or trim, get it? — off your bills. Say you have a service outage that leaves you internet-less for three days. Trim will notice that in your bill and negotiate a credit. If there is a credit, Trim gets a small percentage. The company only works with a certain slate of providers right now, however.

All of the above services are free. But Trim also offers a service that, if you need some help managing your finances a bit better, is worth the monthly cost of $10. This unlocks such features as setup a budget, automate credit card payments, save money on interest and, best of all, talk to a financial advisor about any big money questions you might have.

The free Trim app offers a lot of bang for no buck. It’s a simple service that automates a number of tasks many otherwise ignore. It’s worth using alone for the subscription service scan. Because money left on the table is never a good thing. See? The future of AI isn’t so scary after all.