Trimming Down Your Expenses: A Review of Truebill
The kids are home with you, your work hours have been cut in half, and your grocery bill has increased by a rough estimate of a million(ish) dollars. To make the dollars go further, many of us are looking at ways to cut back and spend less. But how? Well, there is good news – 2009 called, and it’s telling you there’s an app for that – Truebill.
Truebill: Tell Me More
The interest in cutting costs has created a buzz around the Truebill app, which is designed to help you consolidate – and hopefully lower – your bills. Everything from your cable to your electricity to your car payment can be entered into the app.
From there, the app looks at your bills and finds ways to save. For instance, if your internet goes out for three days after a storm, Truebill negotiates on your behalf to receive a lower bill that is in accordance with the actual amount of service you received that month.
Sounds too good to be true… how much does it cost?
The app itself, along with the subsequent services, is free – however, it is important to note that Truebill does take 40% of the savings it acquires for you. So if you take our internet service example from above, let’s say Truebill manages to save you 50 bucks. They would then charge you $20 for their services. But if their negotiation did not result in any savings, you would not be charged at all.
Does it do anything else?
Yes. The Truebill app offers what it calls “Premium Services,” through which it gives you additional tips and tools on ways to manage your finances. These services run the gamut of offerings: You can speak to a Truebill team member through a chat feature, or the app will help you balance your checking account. For a full list of these services, head to the Truebill website.
Is Truebill a good idea?
Truebill does require access to your bank, credit cards, and, of course, your accounts with the companies who bill you. Any time an app asks for you that kind of information, you are wise to take a moment to think it through. But Truebill does go the extra mile when it comes to cybersecurity and provides SSL and encryption to protect your account.
Would Truebill work for me?
Most people have a lot of bills. In light of the recent events sparked by the coronavirus, more and more people are trying to find ways to save. This app can help you do that. But when it comes to your finances, you always need to be an active participant.
No app will be successful without your involvement. In other words, don’t put all your bills in the app, sit back, and not check your bank account for six months. Be diligent about your money.
Will I save money?
A recent study showed that 84% of Americans underestimate their monthly spending on subscription services. Using an app that tracks that monthly spending will go a long way in showing you where you can save, and which services you can cut altogether.
If you are paying for Netflix every month when you haven’t even watched one show since the summer of 2019, it’s a good idea to say goodbye – and the Truebill app will show you just how much you can save.
Now, more than ever, people are looking for ways to trim their budget. The Truebill app can’t replace the hours lost at your job, but it can show you what you actually spend, and guide you on the best ways to spend a little less.