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Smart Phone Robot

Meet Trim, Your New Personal Finance Robot

Smart Phone RobotHow does your very own personal finance robot sound?  Imagine having an app that will help you manage your finances, right from your phone. You can stop imagining now because “Trim” is here to save the day! 

Trim is a personal finance chatbot that gained media attention by raising over $2 million in development capital. This app boasts an impressive array of features such as working via text message or Facebook messenger and responds to a variety of commands.

The app connects to financial accounts at credit unions, investment companies, banks and credit cards. At a very basic level, it can show you balances on accounts, display a transaction history and provide other simple financial information. But, the real usefulness and power of the app rests in its search function.

For instance, it lists recurring monthly charges in response to the prompt "subs." This will let users see where their money is regularly going and help manage subscriptions they do not want or need anymore. Similarly, the bot lists spending by category. A command like "spend restaurant" will bring up all the money a user has spent at restaurants over a month period.

The app has one more added saving feature - subscription cancellation. It comes pre-loaded with instructions for canceling some of the most commonly canceled subscriptions, such as HBO, Netflix and Birchbox. You can get a breakdown of your monthly subscription costs, then cancel the ones you do not want, all without leaving the app.

The interface for this app is so unique, rather than clicking through menus or scrolling through information sheets, Trim puts the information in a format that most people already use every day. If you are texting friends to set up a plan for the evening, it is easy to text Trim as well to check your account balances. There are no unique security worries with Trim. It uses the same encryption technology that all major financial institutions use. It also has a great privacy policy; it does not sell or rent your information to any other party.

On the business side, the app makes money with premium financial analytic services, like retirement planning and automatic savings. It also profits from cancellation in some instances. Some businesses require a certified letter to stop a subscription service, and Trim will send one on your behalf for $6!


Try Trim, and tell us how much you save in the comments below.