A few days ago, I tweeted about a new free service called Trim which helps you identify recurring bills and flags them for possible cancellation. The service is definitely in my strike zone for helpful tools to help you save money. I finally registered yesterday and gave it a shot.
One of the main reasons I am attracted to this service, other than being free, is that if Trim identifies a recurring bill, it can help you cancel the service simply by text message. The service works by linking to your credit or debit card accounts and scanning transaction data. If a charge comes up that looks like a repeat, Trim will send you a text message asking if you want to cancel. Now, I don’t know the other end of the cancellation part, but if Trim can help stop my cable bill without my talking to a rep, I would be excited.
My attempt to save money with Trim
After I set up the service yesterday, within about 10-15 minutes, I got a text message flagging three items on my Chase account that it deemed could save money for me by canceling them. AAA was the only membership that was listed. Interestingly enough, on their website version, they gave me an option to see if I wanted to lower my premium. When I clicked yes, it said “we are working on it.” We’ll just have to see.
Trim still needs to “learn” my spending habits or build its database of true subscription-based businesses. The other charges it flagged were for a pita and a Thai place we eat at frequently, parking garage (arrghh – don’t get me started with that) and the other for an investment I have. So, some success but since I don’t have many subscriptions, Trim is going to flag recurring charges, which is awesome, but I have to tell it to ignore the innocuous purchases somehow. I haven’t seen that feature yet. But please add more features and options to save money!
I will definitely continue to use this service because I like to save painlessly and am always on the hunt for odd charges, subscriptions that I thought we had cancelled, and other billing anomalies. I am looking forward to actually using the cancellation feature to see how effective it is.