Latest posts by R.J. Weiss, CFP® (see all)
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I believe in automating as many financial decisions as possible.
When it comes to investing, automation is straightforward. i.e. invest in your 401(k), setup automatic withdrawals to your IRA, etc…
Same with your bills, i.e. setup auto payments with your credit card, utilities, etc…
You can save both time and money with automation.
But there are somethings you can’t automate.
For example, saving money has always been more of an active activity.
While some put in a lot time into saving money (think heavy coupon users, shopping at multiple stores, etc…), I admit I don’t go to those lengths.
While there’s nothing wrong with these activities (for many it’s a way to put food on the table), I’ve never been in that group.
I’m more of a buy food at Costco, use the library, and use an easy coupon app like Ibotta type guy.
I miss out on some deals this way but the balance for me works.
Trim Financial Manager Review: Save Money on Autopilot?
One of the new personal finance apps on the market I’ve been testing out is Trim.
Trim is a free service that puts some automation into savings.
I have to say, it’s pretty unique.
You get started with Trim by signing up for an account and linking your credit card statements, similar to Mint or Personal Capital. Trim will then analyze different ways they can help you save money.
Trim currently offers the following benefits and services:
- Cancel Subscriptions – Trim sends you a list of your subscriptions and cancels the ones you don’t want.
- Save Money on Comcast – Trim will negotiate your bill on your behalf and get you account credits when there’s an outage.
- Deals – If you add your Visa card, they’ll get you a statement credit with certain exclusive deals (more on this below)
- Get Money back from Amazon – They’ll analyze your past Amazon spending and if something you bought drops in price, they’ll refund you the difference.
How Much Does Trim Cost?
Trim is completely free to signup.
Many of the services are then free to use, including the subscription cancellation service.
One way for now Trim makes money is by charging you a fee for negotiating your Comcast bill. They charge 25% of the first month’s savings.
Trim doesn’t share your data, according to their FAQ:
Your data is only used for you: we don’t sell it or use it in any way other than what we’ve explained already. We safeguard your data using bank-level security at all times. We don’t ever share your data with third parties.
Trim also says in their FAQ,
In the future, we plan to offer a premium, high-touch financial advising service. We’ll always keep offering a free option.
The Bottom Line: Trim Financial Manager Review
I didn’t get a lot of value out of Trim’s cancellation service. This is due to the fact I watch my expenses closely using Personal Capital.
The Deals section however I found useful. I’ve already saved a few dollars a month with this feature. This again was with very little work.
Here’s the current offers available:
After activating the grocery offer, I found this a few days later in my Personal Capital Account.
Hopefully the first of many. Heck, if I can save a hundred or so dollars a year without much thought, I consider it a win.
I’m looking forward to what Trim has to offer in the future. I’m hoping their offers will continue to get better and more customized based on my spending.
For now, I’m satisfied with earning some money back, with very little work.
Trim currently has a signup bonus of $1 off your next 10 grocery purchases. You can sign up for an account below.Try Trim for Free