About Trim

By J.R. Duren
HighYa Staff Published on: Dec 15, 2017

Trim is a financial tool that tracks your spending and subscriptions and will use their in-house methods to negotiate your cable bills and save you money.

The platform is very similar to Clarity Money in the sense that it provides you a good overview of what’s happening with your finances. The main differentiator is the bill negotiation, something we’ll talk about later in this review.

Trim was launched in 2015 by Thomas Smyth and Daniel Petkevich. Before Trim, Smyth worked at a couple of investment firms that focused on start-ups. Petkevich worked for The Climate Corporation, Octane Lending, and popular home-listing site Redfin.

According to an article from The Penny Hoarder, Smyth said he started Trim as a way to automate saving consumers money.

His mother had a Comcast account and he found out Comcast had been slowly raising her rates. Smyth talked with Comcast and saved his mom almost $40 a month.

That experience led him to believe he could build a bot that could negotiate with cable companies on your behalf, mainly because Comcast’s online chat reps used scripted responses to negotiate with customers who were unhappy with their bill.

“My grandmother was overpaying by $35 a month for Comcast, because they had raised her rate a little bit each year for the past decade,” Smyth said. “I negotiated my grandmother’s bill (saving her $420 per year) and wondered if there was a way to do that automatically.”

Does Trim really live up to the claims that it can save you money? How does the platform work? Those are questions that we wanted to answer in an effort to help you understand how Trim can help you.

Signing Up for Trim

Getting a new account with Trim is very simple. You can do it in less than three minutes and all you need to provide is your name and address, then sign into the financial account you want to link to Trim.

Using Trim: The Most Important Features

Your account page is split up into three different sections: tools, Your Wallet and Transactions/Monthly Charges.

Tools

In the tools section of your Trim account, you’ll find three tiles that offer the platform’s services. First, you have what’s called the Comcast Defense tile. This is the tool you’ll use to see if Trim’s negotiating bot can lower your cable bill.

To use this tool, you’ll have to provide Trim with your login information and the card you’re using to pay for your cable bill.

According to Trim, they’ll work on your behalf to negotiate your price. If they are able to win you a discount, then they’ll take 25% of what you save each month. We signed up for the service but had not heard any updates when this review was published.

Here is a list of some of the cable companies that Trim could negotiate with at the time of publishing:

  • AT&T
  • CenturyLink
  • Comcast
  • Cox
  • DirectTV
  • Dish Network
  • T-Mobile
  • Verizon
  • Time Warner
  • Sprint
  • Google Fiber

As you can see from the list, Trim will negotiate with more than just cable companies. They’ll also try and talk mobile and internet companies down.

Another tool Trim offers is a car insurance optimizer. This works in the same way that a car insurance aggregator functions. It searches various insurance companies to find you the lowest rates.

In order to get Trim to find your best rates, you’ll have to provide Trim with the login information for your auto insurance account.

The final tool in this section is the ability to customize your “Personal Alerts”. This section is similar to the alerts you set up with your credit card or bank account. You have the option of choosing which alerts you get and the transaction amount that triggers the alert.

Here are the following transactions that can trigger alerts:

  • Payday
  • Overdraft fee
  • Late fee
  • Balance update
  • Credit card usage
  • Large transactions

Trim also gives you the option of sending alerts when your checking account balance drops below a dollar value you set.

Your Wallet

This section is where you keep track of your checking, credit card and savings balances associated with the bank account that you linked.

Each one of the balances included in this section has a sub-menu where you can check out the account’s balance over time, spending on the account and the ability to hide the account from view.

Keep in mind that the “balance over time” feature won’t pull up balances from before you started your Trim account. It needs a few days of data to populate the graph.

When you click on “spending on this account”, you’ll be moved to the Transactions/Monthly Charges section.

Transactions/Monthly Charges

This section shows you all the recent transactions you’ve made because it defaults to the Transactions tab. The Monthly Charges tab shows you the recurring charges you have: Netflix and Hulu are examples.

The real power of this part of Trim is the “See More” button, which takes you to a pop-up that allows you to see your transactions one of four ways: most recent, largest, merchant and category.

When we clicked “Category”, we saw a five-category list: other, shopping, groceries, restaurant and income. We appreciate that Trim separated shopping from groceries but we think the categories are still too broad.

Granted, Trim isn’t meant to be a budgeting tool which is why, in our opinion, the Category section is pretty basic.

Pro tip: Trim also gives you the ability to cancel a subscription.

Public Opinion About Trim

Much of what we read about Trim came from other review sites. Since the platform doesn’t have an app, there was no wealth of consumer information available through iTunes or Google Play.

The other sites we browsed repeated the information we have here – that Trim tracks your spending, can negotiate your cable bills and has the ability to cancel unwanted subscriptions.

How Trim Compares to Clarity Money

As we mentioned in the beginning of this review, Trim is very similar to another spend-tracking platform called Clarity Money.

The two apps basically offer the same types of tools for tracking your spending. They let you know which transactions have taken place, which categories those transactions were a part of and which accounts you used to make the purchases.

In our opinion, the main differences between the two platforms are:

  • Trim does the automated bill negotiation for you
  • Clarity has a better Dashboard – you can access more metrics
  • Clarity has an app
  • Trim’s notifications are more customizable
  • Trim claims to find you lower car insurance rates

Our Final Thoughts About Trim

We live in a time when most consumers want an automated, easy way to track their finances. A new crop of financial tech companies has sprung up offering apps that do just that.

Trim is one of those apps and, based on our research, we think it does a great job of offering consumers an easy-to-use platform through which they can see where their money is going, which subscriptions they have and how much they’re spending across a variety of categories.

As we said earlier, Trim isn’t meant to be a budgeting app. So, don’t expect it to offer you an intuitive tool for organizing your spending.

Trim is more like a doctor telling you what your overall health is at any point during the day, whereas a budget is like a dietician who is telling what types of food you need to eat, which foods you need to cut back on and what’s possible for you if you can make changes in what you eat.

The advantage to Trim giving you an overview of your finances is that it combines a lot of different tools into one platform. You don’t need a car insurance site and you don’t need to haggle with your cable company. You don’t need to log into your bank’s website to check your balances on your checking savings and credit cards. Everything is in one place.

As for downsides, Trim doesn’t have a mobile app and this could be a deal-breaker for some consumers. If it is, then we suggest checking out Clarity Money. The app won’t negotiate your cable bill or find you lower car insurance rates, but it has pretty much everything else.

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16 Consumer Reviews for Trim

Average Consumer Rating: 1.6
Rating Snapshot:
5 star: 2 4 star: 0 3 star: 1 2 star: 0 1 star:  13
Bottom Line: 13% would recommend it to a friend
Showing 1-11 of 16
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  • 7 out 7 people found this review helpful

    Worst ripoff of the century

    • Denver, CO,
    • Nov 8, 2018
    • Verified Reviewer

    The system claimed to have saved me over $300 for a yearly subscription. I waited a few months and noticed my bill had lowered by a whopping $2. This company charged me $108 (1/3 of my supposed yearly savings). I have contacted them and their canned email responses never allow you to get through to anyone. There are countless others who have experienced the same thing. Do not trust your money with them.

    Bottom Line: No, I would not recommend this to a friend

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  • 5 out 5 people found this review helpful

    Said they'd saved me, but they didn't

    • West Palm Beach, FL,
    • Oct 31, 2018
    • Verified Reviewer

    Recently I received an email from AskTrim that they'd saved me $1,010 over the last year and that they'd charge me 25% of that savings ($252.50). While I'd only been noticing my Xfinity bill going up every month. So I looked at my Xfinity account and I noticed I had exactly the same plan as before with absolutely NO promotional or discounted rate.

    Bottom Line: No, I would not recommend this to a friend

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  • 20 out 25 people found this review helpful

    Avoid at all costs! They are identity thieves!

    • Van Nuys, CA,
    • Sep 30, 2018
    • Verified Reviewer

    I received an email from Trim letting me know they were negotiating my cable bill with Spectrum. I am grandfathered into my previous contract with Time Warner before they merged with Spectrum. This allows me to DVR six programs at a time. The new Spectrum service does not allow that, which is why I opted to stay with the Time Warner plan for as long as I am able to.

    So I got an email from them letting me know they had negotiated down my bill. Initially, I was happy until I found out that what they had done was actually change my service to the new Spectrum cable plan. I found this out when Spectrum sent me an email confirming that they were sending me new equipment for me to install my new plan. Fortunately, I was able to call Spectrum and cancel the new agreement, restoring the service I already have and want to keep.

    I was incredibly disturbed to hear from the Spectrum customer service representative that "I" had called to make the change to the service. I had done nothing of the sort. Later I was contacted by a supervisor who had listened to the call that came from Trim (not a chatbot but a human female) and the call I had made to cancel, and she verified that the person who had called had identified herself as me.

    I have sent two messages to Trim customer service and have received no response other than to say that one of my messages has been merged with the other.

    I am seriously considering filing a report with the Better Business Bureau and possibly the FBI for identity theft. Negotiating bills is one thing; impersonating me to do it is a felony.

    Bottom Line: No, I would not recommend this to a friend

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  • 2 out 2 people found this review helpful
    Updated review

    Update

    • Newnan, GA,
    • Sep 25, 2018
    • Verified Reviewer

    They do get you good savings, but if you already have them, they will take credit for the whole amount.

    Bottom Line: No, I would not recommend this to a friend

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    • Previous review
    • Sep 20, 2018

    Inflated annualized savings

    I recently signed up with Trim to get me better offers if it could. I had asked them to contact my TV/internet provider for a better rate. I currently pay $146 a month. They were able to negotiate and extend my contract 12 months to a better rate of $130. A net savings of $16 per month. The annualized savings they claim and took payments on are $1020. While this may be the off the rack savings, it is NOT my actual savings, and they still want basically MORE money than they truly saved me for their so-called help. Basically, I saved NOTHING thanks to TRIM. So not only did I get a NEW contract, but I PAID MORE.

    (read moreread less...)

  • 2 out 2 people found this review helpful

    Trim will extend and renew contracts without consultation or notification

    • Georgia,
    • Sep 15, 2018
    • Verified Reviewer

    I received an email from my television provider stating that I had excepted an offer from them that would save me $40 per month. Sounds great, I thought! The only problem is that the Trim agent extended my contract with without my knowledge or consent. I canceled the contract with the provider but was still being charged by Trim. I did NOT agree to allow a third party to negotiate the extension of contracts, so I canceled Trim and went about getting a refund. The representative I have been emailing states that their agent did not extend the contract; I was just given the discount for "loyalty." However, I have an email that I received the day this happened that CLEARLY states "This offer was redeemed on 09/05/18. Your $40.00 promotional credits will last the duration of your new 12-month agreement that expires on 09/04/19."

    Bottom Line: No, I would not recommend this to a friend

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  • 1 out 5 people found this review helpful

    Saved me $440 on my Sprint and AT&T bill

    • White Lake, MI,
    • Sep 11, 2018
    • Verified Reviewer

    I just started using Trim about a month ago, and they already saved me $440 on my bills per year. Although I have to pay them 33% of what they save me, I feel that it’s still a great deal because I would still be paying those inflated bills right now. I was skeptical, so I called Sprint to confirm that I actually got the discount and it took me about an hour to get through to anyone to confirm. I am sure I would not have called and spent the time to get those discounts on my own. I also appreciate that they can see what subscriptions I have so I can figure out if there something I’m paying for that I don’t use. I also like that they tell me when bills are due and how much they are. Also, it alerts me to some large purchases which, is also nice.

    Bottom Line: Yes, I would recommend this to a friend

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  • 3 out 3 people found this review helpful

    Can't be trusted

    • Seattle, WA,
    • Aug 24, 2018
    • Verified Reviewer

    Trim was to negotiate my contract with SiriusXM down and they claimed the money was refunded to me for early cancelation were savings. I would have received this refund, even if I canceled and renewed at the same or higher rates. It's not huge and could have been an honest mistake, but I wouldn't trust sensitive information for a company to have such mistakes. Trim has still a long way to go to understand that trust is the most valuable asset in finance.

    Bottom Line: No, I would not recommend this to a friend

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  • 7 out 7 people found this review helpful

    Saved money but halved my data plan

    • Texas,
    • Aug 18, 2018
    • Verified Reviewer

    Trim negotiated my AT&T wireless plan but halved my data. Two weeks after they changed my plan, I got notices from AT&T that I'd maxed out my monthly data usage. Trim claimed to have saved me $600+ for the year (and charged me $150ish to do it), but within less than one billing cycle, I had to re-renegotiate my plan for myself with AT&T. I absolutely don't recommend Trim and will try to block their charge with my credit card company.

    Bottom Line: No, I would not recommend this to a friend

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  • 6 out 7 people found this review helpful

    They won't actually negotiate your bill

    • Acworth, GA,
    • Aug 11, 2018
    • Verified Reviewer

    I had a Trim account for several months and they never actually tried to negotiate my Comcast bill. I received several notifications saying it would be "a few more days" until I was processed in the queue, but that never happened even though I gave them permission to negotiate on my behalf. They're scraping bank account information and probably selling it to other companies in order to feed their bottom line. They don't actually serve customers. The constant instant messages on Facebook are also really annoying. Avoid this service at all costs.

    Bottom Line: No, I would not recommend this to a friend

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  • 14 out 16 people found this review helpful

    Scammers, beware of giving your info!

    • Denver, CO,
    • Jul 19, 2018
    • Verified Reviewer

    Worst service ever. They charged me for saving money on a service that I had already canceled. They sent me an email in July 2018 saying they saved me money on my AT&T bill. I was shocked since I had canceled my pricey AT&T service to a cheaper service from Cricket!

    They are scammers and should not be trusted with financial information. They have no live chat or phone numbers to call anyone, just an email service which is not monitored that well either.

    A total WASTE of MONEY! Run away from them!

    Bottom Line: No, I would not recommend this to a friend

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  • 13 out 15 people found this review helpful

    Be prepared to be disappointed

    • Los Angeles, CA,
    • Jun 22, 2018
    • Verified Reviewer

    I signed up with Trim to get a handle on my budget. My work changed our paychecks from weekly to bi-monthly, so I figured this would give me a better way to handle my monthly finances.

    Upside: They go through your bank statements and find what needs/should be trimmed. Then, they give you recommendations for what to cancel (gym membership, charitable donations, monthly subscriptions). They also request info on your utilities, which you can upload, and they say they will immediately start negotiating on your behalf to lower your bill. After two weeks, my phone bill was lowered $25, and my cable was lowered $10.

    Downsides: The constant text messages for my bank balance, which I can access through my bank app, it was redundant.

    1) Even after providing additional information for canceling monthly subscriptions, a total of seven, all but ONE continued to debit my account after Trim emailed me to inform me these had been canceled. I had to contact each one myself to make sure those cancellations stuck.

    2) The credits I got for my phone and cable bill turned out to be one-time credits, not on-going, which I discovered to my dismay on my next bill. I called my cable/phone companies, and they said these were was a one-time credit, not an ongoing one.

    3) When I asked Trim to clarify this, I got the same response, "We're working hard to find additional discounts for you."

    I'd say that Trim is good for getting an overall look at your budget, but I would not trust them to negotiate your bills. They don't provide differentiation between temporary credits or ongoing, and they don't follow through with you.

    Bottom Line: No, I would not recommend this to a friend

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