You can find subscriptions for just about anything these days, and they can load up quickly if you lose track of them. Fortunately, there are services that can find and cancel unwanted subscriptions and even help you negotiate lower rates for your bills and help you better manage your finances.
These services can handle everything from Netflix subscriptions to cable bills, but they usually do not handle subscriptions to mobile apps or games. For these, you need to visit the Apple App Store or Google Play Store and manually manage your subscriptions from there. Despite this, the services are a great way to start saving money, evaluating monthly bills and getting a bigger picture of your basic financial health.
How do subscription services work?
When you sign up for one of these services, which is usually run by an AI assistant, you connect it to your credit card or bank account. Then it will scan your costs and look for those who go back and alert you. In turn, you will tell the service which one you want to keep and which ones you want to get rid of, and the service will cancel these subscriptions.
Similarly, for bill negotiation, you will upload your bills to the service and it will reach out to each company and do what it can to lower the amounts owed or interest. This is usually done by switching to a better plan. Some services may make the changes automatically on your behalf, while others may ask for your approval stamp first. Either way, they will tell you if it is a successful negotiation.
The services themselves are paid for by taking a percentage of the amount you saved the first year (and if it can not save you anything, it will not charge you anything). Prices vary of course by company, but vary from 33 to 50%. There is no way around these fees if the service saves money, but at least you end up with extra money every month. Ironically, these services offer subscription plans that unlock access to all features such as finance buses, medical bill negotiations and automated credit card payments.
Financial assistance via text: Trim
Trim (free, with possible fees) is one of the original subscription cancellation services, although several money management features have been introduced over the years. It brands itself as a financial healthcare company and can help negotiate cable bills, internet bills and credit card APRs. It can also analyze your transactions and provide basic advice in addition to canceling unwanted subscriptions.
Registering for an account with Trim is free. It allows you to access tools such as bill reminders and a debt calculator, and also manage your subscriptions from the dashboard without spending a dime. You simply link your phone number and your financial information; the service will crawl your purchases and notify you of recurring charges via text. Trim does not charge you anything if it can not save you money. If it does, however, the service will charge a “success fee” of 33% of the total annual savings.
Trim also offers a premium subscription for $ 99 per year (with a 14-day free trial, of course). This gives you bank and bill negotiations, simple savings with an FDIC-insured high-return account with a 4% annual bonus, unlimited email access to staff on finance buses, medical bill negotiations, cancellation of subscriptions and automated credit card payments.
A powerful instrument for financial health: Truebill
Truebill (free, with possible fees) can help you manage your subscriptions, but it also has many robust financial management tools. These are perfect to help you learn more about and improve your overall financial health. It also offers beautiful mobile apps for both iOS and Android, so you can check your finances wherever you are.
There is a summary page on the service dashboard where you can see a general snapshot of the financial accounts you have connected (such as credit cards, cash or investment balances). You can also track upcoming bills from this page. The subscription section shows you all your subscriptions and shows upcoming due dates in the built-in calendar. You can also see reports that show your monthly income and expenses and distribute the billing costs. The service also has tools for lowering bills and setting savings targets.
The Truebill app is free, and you will not be charged anything if the company can not save you money. However, if it is able to save money, it will charge you 40% of the first year’s savings. There is also a premium subscription with an option to choose your own price (between $ 3- $ 12 per month) that allows for more options for you. Premium benefits include balance syncing, premium chat, a cancellation gateway, unlimited budgets and smart savings.
Supported by Goldman Sachs: Clarity Money
With Clarity Money (free, with possible fees) you can reduce your bills, get rid of unwanted subscriptions and better manage your financial health. The AI-powered service is a great starting point for taking control of your finances, but it is also one that will grow with you thanks to its artillery of features. Instead of just showing you your expenses, you will receive an action plan that will help you control and organize your finances.
Clarity Money can negotiate all kinds of bills for you from a variety of service providers, and it does a good job of finding available discounts and coupons. If it succeeds in saving money, it only takes 33% of the first year’s savings (which are linked to Trim as the lowest fee), and it does not take a penny if it can not save you money. There is even a free iOS and Android app full of beautiful simple charts and lists to help you see all your finances in context so you can better understand your finances in an instant.
Great for Bill Management: Hiatus
Although Hiatus (free, with possible fees) puts most of its focus on bills, such as those for mortgages or credit cards, it can analyze which financial accounts you connect it to. From there, the service can recommend a personal action plan to lower the bills and prices through the machine’s intelligence technology.
The service regularly monitors your accounts and searches for better rates. It can also help you with a wide range of bills, including medical bills, student loans and car loan refinancing. Hiatus provides contextual advice that is tailored to your budget and that is easy for you to follow. There is also an iOS app (sorry Android) that makes it easy to manage subscriptions, view your connected accounts and see advice quickly.