Trim App Review 2019

By: Heather Hanks Nov 8, 2019

If you’re not good at monitoring your bank account, then you may need an assistant to step in and do it for you. Trim is an app that works as your assistant to make sure you’re not losing money every month. It connects to your accounts and analyzes the way you spend money to locate areas of improvements. It will tell you when you need to cancel a subscription, negotiate your bills for you, and even help you save money on car insurance.

The app is designed to give you expert advice when it comes to managing where your money goes every month. It scans your account to see where you can make changes and uses bank-level security to make sure your information is secure. But is Trim the latest app to scam you out of money or is it worth your time? Here’s everything you need to know about Trim and how it works to keep money in your pocket by being your second set of eyes.


What is Trim App?

Trim is an app that was created by a self-described financial health company. Trim wants to help you solve your financial problems to help you live the life you want. The company was founded in 2015. Since then, they have helped their users save money by taking a closer look at items you might miss. This includes recurring payments for subscriptions you don’t use and service providers that are overcharging you. The app uses easy to follow features that will make you gain their trust and put money back in your pocket.

Once Trim began to tackle the small problems, such as overpaying on a bill or canceling a subscription, they set their sights on bigger fish. Trim now also helps you get out of debt and out together an emergency savings fund account. They also help you plan for retirement and make sure you are financially healthy. The company is run by a small group of people located in San Francisco, California. To date, Trim has helped its users save more than $20 million just by helping them manage their daily finances. If you’re looking for a second set of eyes that can make financial suggestions for you, then consider downloading Trim.

How Does Trim App Work?

Trim works as your assistant to browse your accounts and look for ways you can save money. You’ll need to enter your banking and financial information into the app, but don’t worry because the app is secure. It connects to your account using bank-level security with 256-bit SSL encryption, read-only access, and two-factor authentication. Trim’s banking services are FDIC insured through Evolve Bank and are provided by Trim’s banking software partner, SynapseFI. Trim works with Plaid to ensure that your information is secure and is not stored on the app’s services. Instead, your financial information is sent to Plaid and then sent back to Trim through encryption.

Once it has access to your account, the app will analyze your accounts and spending habits. It will break down each of your transactions to determine where improvements can be made. You’ll be notified when you are close to reaching your personal spending limits or if you’re about to overdraw on your account. Trim will also cancel recurring subscriptions that you signed up for but no longer use. It looks at all monthly balances that are recurring from your bank account and credit cards. The app will send you a notification when a recurring payment is approaching. Then you can elect to cancel the ones that you no longer use.

Here is how the app works:

The user signs up by downloading the app for free onto their smart phone or computer.

User adds bank account information to app through secure platform.

Trim scans the user’s bank information to detect recurring subscriptions and overdraft fees.

Trim will send you personalized spending alerts to help you manage your purchases.

For a fee, Trim will negotiate your bills to reduce your balance. This feature will cost you 33% of your annual savings.

Trim will also put money aside for you into a savings account. You can set this limit and forget it. This features costs $2 per month or is free with debt payoff.

For $10 per month, Trim will help you pay off your debt by finding where you can afford to make improvements.

How You’ll Save Money Using Trim

Trim can help you build a savings account through their Trim Simple Savings program by automatically transferring money into a high-yield savings account. You have complete control over how much money goes into this account. Just set your limit and Trim will do the rest. You won’t have to remember to put money into your savings account. Trim will also help you into a payoff plan to remove debt. You’ll get expert advice and learn how to lower your APRs on loans.

The debt payoff program works by using a three-step approach:

1. You’ll be assigned a personal payoff plan

Trim will look at your debt and your spending habits to come up with a personalized payoff plan that works within your budget. The app also looks at your interest rates on each credit card you have and suggests how much money you have leftover to pay off debt.

2. App will renegotiate APRs on your existing debt

Trim will contact your credit card company every few months to renegotiate your interest rates for you. By lowering your interest rate, you will save money over time. You may even get out of debt quicker. You can contact your credit card company yourself, but the app will take the mental exhaustion out of doing this every few months for you. However, keep in mind that Trim will not negotiate the total amount you owe nor will they consolidate your loans for you.

3. The app will coach you through better financial decisions

The Trim app will help you make better financial decisions in the future by working with you to manage your accounts. It’s important to note that these services cost $10 per month, but it comes with a 90 day money-back guarantee if you’re not happy.

Why Should You Use Trim?

Although you certainly don’t need an app to negotiate your bills or check for monthly subscriptions that you don't use anymore, it’s nice to have the option. Negotiating your bills usually means that you’ll have to spend hours on the phone with a customer service representative and things can get heated. The app does this for you for free without any emotions or time involved. Many people find that this service alone is worth the free download, even if it means linking your bank account and trusting it with important financial information.

The app works for you even when you’re not active within it. It will send you push notifications to your phone every time it does something positive, like saving money on a bill or detecting a subscription that you could cancel. When the app locates a bill that could be lowered, it will contact your service provider for you by using a chat box or having a customer service representative call them on your behalf. If they are successful in lowering your bill, you will get a notification. Trim can do this with all of your bills if you would like.

What Does Trim Cost?

Most of Trim’s basic services are free. This includes overdraft fee detections, subscription tracking and canceling, and personalized spending alerts. You will need to pay for more extensive services, such as bill negotiation, Trim Simple Savings, and debt payoff. If Trim manages to negotiate a bill to a lower price, then you will owe 33% of your annual savings.

Using Trim to pay off your debt will cost you $10 per month. This comes with a 90-day money back guarantee. Trim states that they will refund your money if they don’t make a positive impact on your finances. The Trim Simple Savings feature will cost you $2 per month, but you can have this fee waived if you pay your fee for the debt payoff feature. This money is deducted from your checking account that you link to your account when you sign up.

Here is an overview of the fees associated with Trim:

Bill negotiation: 33% of annual savings (as long as the app successfully reduced your bill)

Trim Simple Savings: $2 per month deducted from your bank account OR free if you pay your debt payoff fee

Debt payoff: $10 per month

Free: overdraft fee detections, personalized spending alerts, and subscription tracking and canceling

Trim: Pros and Cons

Trim address an issue that most people take for granted or simply don’t want to bother with on their own. It’s easy to sign up for monthly subscriptions and then forget about them. And it can be downright painful to argue with credit card companies about the unfair APR they are charging you.

The app will monitor your account and inform you of subscription charges that you may have forgotten about. It will ask you if you want to cancel these subscriptions to save money. Even if your subscriptions are only for a few dollars each month, this money can add up. If Trim successfully removes a $20 payment from your monthly account, then this can save you $240 per year. This is a valuable service that Trim does not charge for.

Trim can also help you get out of debt and save money, but these services will cost you. It’s important to remember that Trim should not take the place of a financial advisor if you need extensive help with money. The app also cannot help you build credit. You can use the app as a resource and second set of eyes. You’ll also enjoy that they will contact your credit card companies and other service providers for you for free. They will even send a letter to your gym to get you out of that contract.

However, if your goal is to boost your credit or if you have more debt than you know what to do with, then you will likely need more help than Trim to manage your situation. You’ll also want to keep in mind that Trim cannot consolidate your loans for you or lower your amount. The app will take much of the grunt work out of your financial duties, but it can’t do everything. You can do everything that Trim does for you yourself, but you’ll have to get organized first and be prepared to spend extra time on the phone with bill collectors.



  • The following services are free to use: subscription monitoring and canceling, personalized spending alerts, and overdraft fee detections
  • Trim will send you personal alerts regarding your finances to help you save money and stay on track
  • Your information is protected by bank-level security with 256-bit SSL encryption, read-only access, and two-factor authentication
  • Free to download and you can deactivate your account anytime
  • There is a 90 day money-back guarantee if you’re not happy with the money you’ve saved
  • Saves you time and effort when it comes to negotiating bills and finding lower interest rates
  • The app will renegotiate credit card APRs for you and ask to lower service provider bills
  • You’ll receive personalized financial advice regarding your spending habits
  • You can get a personalized debt payoff plan for $10 per month that calculates how much you owe and then shows you how much you can afford to pay


  • The app charges 33% of your total annual savings on bills that it negotiates for you. This means that if the app lowers one of your bills from a service provider, then it will take a 33% cut from your end of the year savings. However, many people find that this is a small price to pay to have someone else negotiate their bills for them. It will save you time and effort from having to call your service provider and renegotiate your terms yourself. Using an assistant means that you don’t have to get your emotions involved while trying to lower your bills.

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