Finance

How to Cut Your Bills and Save Money Fast

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How to cut your bills and save money fast.

How to Cut Your Bills and Save Money Fast is a blog post that details the different ways in which people can save money. The article includes tips on how to cut your bills, saving money on groceries, and more.

The Trim App is a money-saving application that negotiates cheaper utility prices and cancels unneeded subscriptions automatically.

In today’s financial environment, automation is the name of the game. AI and machine learning algorithms can be taught to handle tedious financial details that actual humans don’t want to deal with.

When it comes to investing, robo-advisors are a popular automated option, but automation is also being introduced in other areas of the financial sector.

Trim is the name of the game. Trim is an AI assistant that is intended to aid you in finding cost-cutting opportunities.

The Trim app examines your finances and recommends methods to cut costs and retain more of your hard-earned cash.

So, just how wonderful is Trim? Is it able to assist you in saving money? In this Trim review, we address all of these topics and more.

What is the Trim App all about?

Trim (sometimes known as AskTrim) is a free software that aims to help you save money.

Trim, which was launched in 2015, analyzes your expenditure to identify and eliminate unnecessary subscriptions and recurring purchases.

Trim connects to your bank and credit card accounts, examines your transactions, and alerts you if it discovers recurrent purchases that you may be able to cancel.

Trim will not only help you discover subscriptions that you may cancel, but it will also assist you in negotiating your payments to help you save money.

If you link your services to Trim, it will look for discounts and better offers to help you save money on a monthly basis. Trim will then charge you 33 percent of the money you saved as a fee for its services.

Trim now allows you to bargain with your cable and internet providers on your costs. Normally, these industries are ripe for cost-cutting. Trim, on the other hand, intends to open up the market for additional services in the near future.

Trim began providing premium services such as a high-yield savings account, financial counseling, and debt assistance in addition to these basic services.

What is Trim and How Does It Work?

You will be asked to create an account when you visit the Trim page. You may either use your email address or your Facebook credentials to create an account.

Once you’ve created an account, you’ll be asked to provide your phone number or Facebook Messenger information so that they may contact you. Then you’ll provide information about your bank account and/or credit card so that the services may evaluate your payment history. 

Once you’ve connected your accounts, the app will analyze all of your payments to see which ones are regular subscription payments.

When it finds them, it will total up your monthly expenses, inform you of them, and offer you the opportunity to cancel those that you don’t want.

The best part is that you can cancel these subscriptions by replying to the app’s messages. Trim will keep you informed on the progress of your cancellation request after you’ve decided to discontinue a membership.

Negotiating a Bill

Trim can also assist you in negotiating particular expenses in order to save money.

The following is a description of how this service works: To begin, you must first submit the bill to be negotiated and choose your chosen payment method. Trim will then contact the bill’s owner to try to negotiate a lower rate for you.

If they are successful, you will be notified via the app, and you will be able to alter your service terms to save money. The greatest aspect is that the software handles all of the discussions for you, allowing you to concentrate on more essential things rather than sending emails to businesses.

For example, I was able to save $15 a month on my internet subscription by utilizing Trim. That may not seem like much, but over the course of a year, it adds up to almost $180 in savings!

Trim may be used to negotiate auto insurance prices and discover cheaper bargains in addition to cable and internet bills.

Premium Trim

Trim has launched Trim Premium, which expands on its negotiation services by offering conventional banking products. The premium account’s goal is to offer more comprehensive financial services for all aspects of your financial well-being.

Trim is attempting to reinvent its services as a holistic financial wellness business, and this announcement is part of that effort. 

High-yield savings accounts are one of the major features offered with Trim Premium. Trim offers a 4% APR on the first $2,000 you deposit and a 1.1 percent APR after that with a Trim account.

On a normal savings account, that’s a very good rate. You may also automate deposits from your primary account to your savings account for no additional fee using the app.

Trim Pay, a program intended to help you manage credit card debt and other types of debt, was also launched.

Trim Pay allows you to set up automatic transfers from your checking account to a Trim account, which you may then use to pay off your credit card and other obligations.

This feature is comparable to the “envelope” saving feature that several budgeting applications have lately included. If you need more funds, you may withdraw funds from this account.

Financial coaching and a debt calculator are two other features included with Trim Premium.

Subscribers get unrestricted access to a team of expert financial advisors who can respond to questions regarding debt, emergency money, retirement planning, and other topics.

This group of financial advisors may also assist you in lowering your credit card interest rates.

The debt calculator will crunch the figures to help you figure out how much debt you have and how much interest you’ll have to pay each month so you can pay off your accounts on time.

These two programs, when used together, may significantly improve your debt position and allow you to save more money.

Trim does not have the same budgeting capabilities as applications like Mint, which is a disadvantage of the service. Trim’s data can be used to create a budget, but the software won’t do it for you.

How much does it cost to trim?

Trim’s basic cancellation services are free, however there is a charge for utilizing the bargaining function. Trim will deduct 33% of any savings you get through bill negotiation.

Trim, for example, will take around $60 in return for its services if you save $180 per year through bargaining.

If that’s too much for you, you can always attempt to negotiate your membership prices manually.

Trim Premium has a monthly fee of $10.

Trim may also send you alerts and financial product recommendations based on your profile. They are compensated for these advertisements by their marketing partners, which allows them to provide their fundamental services for free.

Is it safe to trim your hair?

Trim is safe to use, and according to their website, they do not share your personal information. They provide some anonymous data to their marketing partners, but no identifiable information.

It does need access to your bank accounts in order to record transactions, but the Trim app does not have access to your account, so you cannot make any changes via it.

To put it another way, you don’t have to be concerned about hackers emptying your account by gaining access to your Trim account. Even if they could, they wouldn’t be able to make any transactions or do anything.

Trim is thus usually safe to use, and your bank account is secure.

Pros and Cons of Trimming

Pros

  • It assists you in saving money. Trim may help you save money by eliminating regular purchases that you don’t need. It also performs all of this automatically, so you don’t have to go through your payment history manually.
  • Bills should be negotiated. Trim may help you save money on things like cable, internet, and auto insurance. Trim can help you save over $100 per year by negotiating your bills.
  • Savings with a high rate of return. Trim’s savings account offers 4% growth on your first $2,000 investment and 1.1 percent APR after that. This is a decent rate for a savings account, and withdrawals are neither restricted or penalized.
  • Coaching aids Trim premium offers excellent financial advice on subjects such as bills, money, and retirement.

Cons

  • They steal a significant portion of your money. Trim gets a 33 percent share of anything you save if you utilize the negotiating service. This is a hefty charge, and many individuals will balk at paying it.
  • There are no budgeting tools available. Trim does not offer conventional budgeting tools, despite the fact that they may assist you with a lot of your money.

Conclusions

Is Trim really worth it? Yes, we agree.

Subscription payments are prevalent in today’s market, and it’s simple to let them pile up and cost you a lot every year.

Trim can help you save a lot of money by removing these unneeded services from your budget, as well as obtain a better bargain on your cable and internet bills.

You could do it all by hand, but why not have a robot take care of the tedious details? They also offer financial counseling and a high-yield savings account as part of their tier premium service.

Trim is certainly worth checking out, in our opinion. 

Further Reading:

Trim App

Free

Trim app logo

Pros

  • Can help you save money on your bills
  • It is completely free to cancel your bill.
  • Other positive aspects

Cons

  • There is no budgeting feature.

The 250 money saving tips is a list of ways to save money and cut your bills. It includes things like buying used, cooking at home, and other tips that can help you save money.

Frequently Asked Questions

How can I save $1000 fast?

If you are looking to save money, one of the best ways is to start by cutting your monthly expenses. This can be done by reducing your rent or car payment, cancelling cable TV, and avoiding unnecessary purchases.

What bills can I cut to save money?

The best way to save money is to cut your monthly bills.

How can I lower my bills fast?

The best way to lower your bills is by switching providers.

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