Trim Debt Payoff Review 2021: Pros & Cons | Legit & Scam | How it Works

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I believe you hate to incur unnecessary expenses especially when you’re on a budget. So, you would rather appreciate that these expenses never show up.

As much as you can avoid expenses, you can also save money doing something as simple as “negotiating”.

Yes! Negotiating for lower rates on your bills is possible. And you can do this through the Trim App.

But what is the Trim App and how does it work?

We will carry out a complete Trim Debt Payoff Review in this article.

What is the Trim Debt Payoff App?

The Trim Debt Payoff App is an application that helps you cancel your unwanted subscriptions and renegotiate your bills for lower rates.

Similar to other personal finance applications, Trim Debt Payoff App links your bank accounts to other accounts wherein you need to pay bills.

How does the Trim Debt Payoff App Work?

The Trim Debt Payoff Application is very simple and easy to use. The interphase is simple which makes it easy for new users to manipulate.

The Trim Debt Payoff app simply links your bank account with other accounts where you make your regular expenses e.g gas account, electricity account etc.

Apart from helping you save money on your bills easily, this application helps you cancel unwanted subscriptions.

Currently, they are developing the application to help accommodate features that make the management of money easy.

How Can I Cancel My Subscriptions Using The Trim App?

The Trim App acts like a finance bot helping you organize and review all your transactions.

During this process, it highlights recurring transactions and isolates them. Platforms like Spotify, Netflix, HBO, and Hulu make their money from such subscriptions.

Other little charges for video games and membership websites can always be overlooked but Trim doesn’t do that

It rates the importance of these charges and subscriptions and how they affect your financial goals.

After it has assessed the charges, it presents them to you in folders and give you the option of cancelling the unimportant ones.

This way, you save more money as they keep giving you progress reports from time to time.

So, to cancel your subscriptions using the Trim App, Trim will:

  • Get a list of your recurrent bills
  • Highlight the bills into different sections
  • Give you a report on the expense you make for each bill
  • Gives you an option to cancel everything or anyone in particular
  • Produces a progress report for you to help you make better decisions.

How Do I Renegotiate My Bills With Trim?

A lot of people find negotiating difficult. I understand this, hence, under this Trim Debt Payoff Review, I will show you how it works.

To renegotiate your bills using the Trim App, here’s how you can get it done.

  • Place a bill for negotiation
  • Provide your payment method
  • Trim will contact the biller
  • You will get a notification about the outcome of the negotiation
  • Trim charges you for the service

Generally, Trim charges about 33% of your yearly savings for helping you renegotiate. Hence, if you save $10 on your electricity plan, it amounts to $120 which means Trim will charge you $40.

What do I need to know about the Trim Premium?

The Trim App has a premium feature for users to get more features from the application. There are a lot of features that come with a premium account on Trim, however, we will highlight the important ones.

Simple Savings

The simple savings on your Trim account makes it easy for you to save money. Each time you receive an income, an agreed amount is immediately removed for savings.

When you save your first $2,000, you get a reward of 4% after the first year. You then get 11% after your first year.

TrimPay

The TrimPay feature helps you remove your credit card debts and it works in a unique way:

  • You select the credit card you want to pay off
  • Set up automated weekly bank transfers to your TrimPay account (this is a savings account)
  • Choose a day of the month for the complete money in your TrimPay account to be sent to your credit card company

TrimPay works with only one credit card at every point in time.

Financial Coaching

As a premium user, you have unlimited access to a strong team of financial planners. Whatever questions you have regarding debt payment, savings or budgeting, they will help you.

Debt Calculator

The debt calculator is such a strong part of the premium plan. This Trim Debt Payoff Review will not be complete without talking about this calculator.

The function is really simple: it helps you link all your accounts and creates a payoff plan with minimal interest for all your debts.

Bank Negotiation

The Trim team will contact your bank to discuss the possibility of creating a savings plan for you or renegotiating your charges.

Is Trim Really Important?

If you’re very good at negotiating and budgeting, you might be wondering if the Trim app is actually important.

An old saying connotes “A faint ink is better than the sharpest memory”. So, it doesn’t matter how organized you are, some things will skip your mind.

The Trim App promises a lot of value even though it has it demerits.

The pros of the Trim App include:

  • Free features, bill negotiation, and canceling subscriptions
  • Easy-to-use interface.
  • Money-saving capability

On the other hand, some of the cons of the Trim App include:

  • No investor tools
  • No goal setting features

A clear comparison shows you that the advantages are bigger than the disadvantages. The Trim App is free except you want to upgrade to the premium account for $10 a month.

How Do I Get the Trim App?

You can get the trim app from the Google Playstore and the App store.

All you have to do is visit the website to start the process.

Final Thoughts on the Trim Debt Payoff Review

With this complete Trim Debt Payoff Review, I believe you would not find the app challneging at all.

Trim has really helped people save money and live better lives.

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