Trim is a new service that saves users money by identifying and canceling unwanted subscriptions and recurring payments on their credit and debit cards.
How It Works
It’s really simple!
- You sign up in <1 minute at asktrim.com.
- Shortly thereafter, you’ll get a text with a list of all your subscriptions.
- If you want to cancel any of them, text back “Cancel X.”
- We cancel it for you.
How Much Do Customers Save?
On average, our users find 7.4 subscriptions and cancel 1 of them. This saves $15/month, or $180/year. Not bad for one minute of effort!
Why Is This Important?
I think we all can agree that personal finance is completely broken. It’s getting harder and harder to keep track of all of your spending, and companies are getting better and better at getting you to spend more. This is especially true of any kind of financial company – like insurers, banks, and investment managers. No one wants to think about these things when they wake up in the morning!
The team at Trim has a big dream: to make personal finance painless for all Americans. This is a good problem to tackle, although it’s not going to be easy. The Trim “Unsubscribe” product is a nice starting point.
How Does Trim Make Money?
The service is totally free. Right now, we don’t make anything – the process is automated and ultra-low-cost for us. Eventually, we plan to offer a “premium” version, with additional personal finance services for folks who want more in-depth assistance.
Trim has built two awesome technology systems. The first is a machine- learning algorithm that finds all of your subscriptions automatically. This is not easy! The second is a complex software system to route your “unsubscribe” request to the right biller, and make sure that the subscription gets cancelled.
Is It Secure?
Yes – Trim’s entire system is built to incorporate bank-level security from the ground up. We never see or store your bank credentials. We use a direct, secure integration with to authorize
the user with their bank. Your bank then sends use a read-only access token, which can be revoked by the user or by the bank at any time. This is exactly the same security used by Mint.com.
I can say from personal experience I signed up for Trim and it was quick and easy. Within an hour, I had a text message with some recurring expenses identified. Unfortunately for me, all of my expenses were still valid so I didn’t save any money. However, I will continue to use this service every couple of months and see if there are areas I can save!
Have you tried Trim, if so, what do you think?