Trim Review (for 2020) | The Best Way to Lower You Monthly Bills

June 20, 2020
Written by Drew Cheneler
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Trim Review…Do you know how much you spend each month on subscriptions you do not use? What about your bills? Are you overpaying and don’t know it?

Trim, the financial assistant app, helps you answer these questions and more. You will find out more about your financial health than you knew possible, or at least that is what they promise. Saving money without any effort on your part – it sounds too good to be true.

Is Trim legit?

Is it worth it?

Does it lower your monthly bills?

Don’t worry, we answer these questions and more in this Trim Review. You will soon find out why Trim is the best way to lower your monthly bills. And why it earned a spot on our coveted list of the best budgeting apps.

Trim Review: What is Trim?

Don’t you wish you had time to comb through your bank statements and cut unnecessary spending? Now you do, with Trim. This holistic financial management app provides personalized recommendations to help you save money.

Are you tired of paying high cable or internet bills? Trim will negotiate your rates for you.

Wondering where your money went this month? Trim analyzes your spending so you can quickly see where you spent or overspent.

Wish you knew what subscriptions you had? Trim lists them out for you and cancels any you no longer want or use. Trim started as a subscription cancellation service but quickly grew. Many users still use its sleuthing skills to track down those ‘free subscriptions’ that were only free for a limited time, but you forgot about.

Remember those ‘free trials’ you signed up for but entered your credit card information? How many are you paying for today but aren’t using? Not sure? Trim will tell you.

How Does Trim Work?

You sign up for Trim with your email address or Facebook credentials. Trim communicates via text or Facebook Messenger, so make sure to choose the one you use the most often.

Once you are ready, connect your bank account and enter your credit card information, so Trim can get to work and look for ways you can save money.

Trim Free Features

Originally, Trim began as a free app, offering just subscription cancellation services. It has since expanded, using its algorithms and automation to save users money elsewhere. Its free features pack quite a punch.

Its free services include:

  • Canceling Services – Trim’s ‘bread and butter’ service is finding and canceling subscriptions. It uses its unique algorithm to locate recurring charges, alerting you of them. Trim sends you a list of your subscriptions via text or Messenger. If you text back ‘Cancel XYZ,’ Trim cancels the subscription. It is that simple, and you have to do nothing but send a text.
  • Financial dashboard – Get a bird’s-eye view of your net worth based on the accounts you added to Trim. The panel is limited to the accounts you link, but it may motivate you to dig deeper into your financials.
  • Bill reminders – Stop paying late fees on your bills. Enter your information and Trim will remind you of the due date as it approaches. Late fees eat away at your savings and are a nuisance charge. Let Trim get rid of them.
  • Spend alerts – Trim alerts you if you overspend on a service. No one enjoys paying more than necessary. Now you will know and choose better next time.
  • Savings suggestions – Learn about ways you can save money or sign up for other apps/promotions that may increase your savings. Trim may earn a commission if you sign up for any services.
  • Debt calculator – This calculator helps you see your total debt in one place, including interest, and it even enables you to create a repayment plan to get out of debt faster

Trim Review: Premium Features

Trim Premium is a paid subscription and includes the following features:

  • Bank negotiation – Trim negotiates interest rates and other fees banks may charge that Trim found in your bank statements.
  • Bill negotiation – This does not work with every provider, but they are always increasing their list. Trim negotiates internet, cable, and phone bills. They work with Comcast, Time Warner, and Verizon, among others. You give Trim a billing statement or log into your account through Trim, and the service does the rest. Trim locates better plans, available promotions, or negotiates directly with customer service (via chat).
  • Credit card negotiation – Trim’s bots will negotiate credit card fees and APRs on your behalf.
  • Medical bill negotiations – Trim will negotiate a payment arrangement with 0% APR with your medical providers. They may also negotiate settlements for less than the full amount.
  • Automatic credit card payments – Set up automatic credit card payments with TrimPay to help you pay down your credit card bills faster.
  • Trim Simple Savings – Trim helps you save by setting up automated weekly transfers to your Trim Savings account. Trim pays a 4% annual reward on your first $2,000 deposited.

All Trim Premium subscribers also have access to a Financial Coach via email. You can send questions, ask for advice, or any other financial questions you have to your coach. There’s no limit.

How Much Does Trim Cost?

Signing up for Trim is free, but it limits your services. If you want a bill or bank negotiation, help with medical bills, or the automatic credit card payment service, you’ll pay $99 per year.

Trim charges the following fees in addition to its Premium subscription fee:

  • Trim Success Fee – If Trim successfully negotiates a lower bill, they charge 33% of the annual savings. For example, if it saves you $20 per month, that’s $240 savings per year and a $79.20 Trim Success fee charged to your card on file.
  • Trim Simple Savings – Trim charges a $2.00 monthly maintenance fee to transfer funds to your savings account automatically. Trim charges the cost to your linked checking account.

Note – You may use the Trim Bill Negotiation services without signing up for Trim Premium. The charge for this service is the same – 33% of the annual amount saved.

Trim Review: Is Trim Safe and Secure?

Trim uses bank-level security. They use Plaid to connect to the over 15,000 banks and financial institutions securely. Trim does not store or see your banking or credit card credentials. Plaid handles the data encryption, so Trim sees no data.

Trim receives read-only access to your bank and credit card transaction data. They cannot make changes to your account.

Trim also uses 256-bit SSL encryption for their databases. You must set up 2-factor authentication to use Trim, and you must always confirm your identity if you log on using a different device.

All Trim data is stored on Amazon Web Services, which NASA, the Department of Defense, and the FINRA all use. Trim does not sell or use your data in any other way. So, it is safe to say your personal data is safe and secure with Trim Financial.

askTrim Pros:

  • You may save money that you did not realize you spent each month with its free service
  • You may lower your regular monthly bills with no effort on your part
  • It is easy to sign up and start using
  • Trim uses many precautions to keep your data safe
  • Trim supports over 15,000 banks and financial institutions
  • The financial dashboard helps you see your big financial picture
  • You can set up personalized alerts

Trim Cons

  • There is a fee to lower your bills (33% of the annual savings)
  • You must link your bank accounts and credit cards to get anything out of the app
  • There is no mobile app
  • Trim only offers support via email – no phone support

How to Sign up for Trim

Signing up for Trim is easy:

  • Sign up with Facebook – Enter your Facebook credentials
  • Sign up with email – Enter your name, email, and a password

Either way, you will enter your preferred contact method (Facebook Messenger or text SMS), link your bank or credit card account, and start saving!

Is Trim Legit?

Yes, Trim is legit. Honestly, you may or may not save money; it depends on your circumstances. Have you recently negotiated your bills? Do you regularly cancel your ‘trial subscriptions’? If so, Trim may not save you money, but it is legit.

As Trim touts, they saved their users a combined total of $1,000,000 in the last month. The savings vary by user and there is never a guarantee. However, if you are strapped for cash and need a quick solution to find ways to save, then Trim is a great opportunity.

Wrapping Up: Trim Review

If you sign up for subscriptions and forget about them, Trim is a great tool, not to mention free. If you will use the premium tools, $99 a year is not bad, just make sure it’s worth what you’ll get out of it. Do not forget, you will pay 33% of the annual savings on any negotiated bills.

Trim offers a unique service, especially negotiating tough medical bills for you. If you take advantage of its features and want to get into a better financial position, then Trim can be a true ally. Trim Financial will help you reach financial freedom.


Drew Cheneler
Drew Cheneler
Drew is a recognized Credit, Small Business, and Personal Finance Expert. He has been quoted in CNBC, The Huffington Post,, Moneyunder30, and more. He is known for breaking down complex personal finance topics into action-oriented advice, so you can make the most of your hard-earned money.