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Truebill App Review | Best Personal Finance/Budgeting App In 2022? - YouTube
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so let me ask you a question do you
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remember that free trial you signed up
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for and never cancelled you know the one
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that's now charging you $15 a month well
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me either
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that's where true bill comes in handy
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I've recently been hearing a lot about
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these different budgeting apps and I
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decided I would try them out and review
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them for you guys on the channel and the
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very first one I want to take a look at
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is called true bill I've been using true
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bill for about one week and I would
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describe it as an app that helps you
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keep track of your overall financial
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life and one of the most useful tools of
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this app is keeping track of those pesky
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recurring subscriptions that we all tend
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to forget about now if you want to try
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out true bill for yourself the link to
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download the app is down in the
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description below I am affiliated with
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true bill so I earn a small commission
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if you do decide to use my link however
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I certainly appreciate that as it is a
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way to give back to me for putting this
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video together for you now that being
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said guys let's get right into it and
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talk more about true bill alright guys
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so the best way to actually explain what
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it is that true bill does is by opening
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the app and showing you guys firsthand I
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actually downloaded to Bill about a week
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ago
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I've been testing out the app myself and
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getting used to the different tools and
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functionality so I want to show you guys
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exactly what this app can do for you as
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well alright guys so as you can see now
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here we are inside of my true bill app
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and it shows right up top what my
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monthly spending is now right off the
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bat I just want to tell you guys that I
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just paid off my car so that is why this
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month spend is so much higher than you
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would expect it to be but that is what
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it shows you right off the bat here is
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what your spending is as well as the
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different bank accounts and credit cards
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that you have linked so what I have
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linked to my account here is my
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different bank accounts here I just have
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Key Bank linked not my emergency fund
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but just my key bank account so if I do
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the drop down here it shows the
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different cash that I have within these
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accounts and then it also shows the
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credit card balance I have on my
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different credit cards now as far as my
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credit card goes I put all of my
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expenses online one credit card and I
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pay it off in full every single month
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so that is pretty helpful to show me you
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know kind of what my spending is but
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this takes it a step further because it
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combines your spending from both your
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credit cards as well as your checking
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accounts and puts it all in one place
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where you can analyze that spending and
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it also gives you ideas to of like what
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your investments are I went ahead and
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linked my Charles Schwab account so that
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you can tie in all of your different
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financial accounts that you have and it
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will give you an overall snapshot of how
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much cash you have how much debt you
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have and how much you have invested
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troub you'll also gives you this option
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of setting up budgets within the app if
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you want to set up a budget for a
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certain thing maybe you're budgeting for
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a vacation or a major life purchase they
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offer a budgeting tool right there
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within the app and then one of the
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things that really is interesting to me
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about this app is the recurring tab here
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on the bottom it gives you an idea of
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what your recurring expenses are which
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is extremely helpful if you're somebody
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who has ever been in the situation where
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you had some monthly expense sneak up on
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you and you didn't have enough money in
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your account so this is extremely useful
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to show you what are your recurring
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expenses and what you should expect
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coming up so in my case here I have my
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Intuit QuickBooks payment coming up my
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audible subscription my National Grid
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bill as well as my Hoffmans car wash and
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my payroll expenses Verizon Wireless
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bill so it shows you what these
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recurring expenses are and oftentimes
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people end up forgetting these because
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they sign up for something and they
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forget they signed up entirely and then
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they're perpetually being billed in the
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process so that is a really helpful tab
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here showing you what your recurring
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expenses are and also you know when you
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should be expecting them to hit your
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account so then you jump over to the
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spending tab and in my opinion this is
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the most useful part of the app for me
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because not only does it show you how
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much money you are spending but it also
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breaks it up into different categories
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to give you an idea of whether you're
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spending a lot of money on groceries or
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dining or whatever it may be so right
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off the bat we can look at my spending
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so far this month in January and I will
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be honest with you guys after seeing how
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much I've been spending in the last
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couple of months it really has made me
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aware
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especially with things like the dining
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and those discretionary expenses so it's
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kind of a painful reminder of just how
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much money you're spending on these
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different things so here we are looking
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at January so farm and my spending is
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one thousand four hundred eighty seven
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dollars and it breaks it down into the
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different categories two hundred eighty
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three dollars spent on dining one
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seventy on groceries eighty one on
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shopping forty seven on auto and
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transportation and it does this for
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every single month and you can look at
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past data as well after you link your
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account so for example it looks like I
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spent a lot of money in December as most
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of us do because of the holidays and it
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shows me exactly where I spent that
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money so three thousand dollars on
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shopping fourteen thirty on dining and
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drinks six thirty four on pets 562 on
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groceries so it breaks it up into these
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different categories so if you find that
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your personal finances are kind of like
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a leaky bucket where you have no idea
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where your money is going something like
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true bill can easily show you where
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you're spending too much money and
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what's also interesting is if you scroll
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down to the bottom it'll show you where
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your frequently spending money so in my
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case I had a lot of Amazon purchases
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because of Christmas so that was nine
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hundred seventy seven dollars I spent
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sixty-nine dollars at Dunkin Donuts and
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four hundred fifty eight dollars at
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Hannaford and it also shows you what
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your largest purchases were and these
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different recurring purchases that were
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of a high dollar amount and so rather
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than just having your money aimlessly
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going one direction or the other it
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gives you a very clear snapshot of what
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is going on with your money now on top
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of that there's a couple of other
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features of true bill that you may want
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to know about as a user of the app and
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one of the most interesting ones is that
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true bill offers a service where they
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will negotiate on your behalf on some of
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your bills now in particular this is
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typically your telecom bills your
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internet bill cable bill and things of
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that nature and what they will do is if
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you upload your bill and provide the
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correct documentation they will reach
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out to these providers and try to
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negotiate on your behalf
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now they offer paid plans with true bill
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which come with some extra bells and
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whistles but you do not need to be
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using the paid plan in order to have
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them negotiate your bills however there
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is a charge for this service and what
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they do is they keep 40% of any money
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they are able to save you now you may
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think okay that sounds like a high
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amount but the truth is this is what I
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call found money because it's money you
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would never ordinarily get in the first
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place because they're doing the legwork
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for you because as much as we all
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complain about our high cable bills and
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internet bills very few of us are
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actually willing to get on the phone or
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chat with the people over the email and
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actually negotiate that rate and what's
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actually crazy to me is just how much
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money you can save by using the service
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so according to true bill the users that
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take advantage of true Bill's features
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see their bills decreased by over $60 a
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month which is over 720 dollars per year
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so if you take advantage of all these
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features and you have them negotiating
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your bills on your behalf you may see
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some savings like this as well now
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everything we've talked about so far and
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everything I showed you in that app is
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part of the free plan meaning you can
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download the app right in the
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description below and take advantage of
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all these features however if you are
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looking for some above and beyond
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features these are all going to be
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offered for a paid subscription and you
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can pay for this on a monthly basis or
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an annual basis so what does this get
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you exactly well first of all the first
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main thing it's going to get you is
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automated cancellations so what that
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means is that when true bill notifies
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you of a recurring subscription if you
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decide you want to cancel that
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subscription you just click a button and
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then true bill will cancel it on your
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behalf whereas if you do not have the
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paid membership you're going to have to
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cancel that subscription on your own
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another additional feature you get with
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the paid plan is unlimited budgets and
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unlimited spending categories which can
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help you get a more granule look at your
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finances whereas with the free version
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there is a set number of budgets and
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categories that you are allowed to use
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another useful feature with the paid
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plan is smart savings which allows you
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to save money and set it aside right
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within the app which can be extremely
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helpful when tracking
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overall finances another feature is they
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offer a service where if you're charged
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any overdraft fees or late fees they
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will reach out to those financial
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institutions on your behalf and try to
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negotiate those fees because oftentimes
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banks are willing to have a little
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wiggle room there if you reach out to
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them and ask them you know if you can
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cut down the fee or eliminate the fee
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especially if you've been in good
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standing with them for a very long time
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you also get premium chat which means
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you have priority access to customer
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service with true bill and the final
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feature they offer is automatic fetching
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of the data from your financial
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institutions so if you use the free
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version of the app they're only going to
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update your account values whenever that
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financial institution sends them that
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data however with the paid plan they
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will fetch that data as often as you
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would like it giving you real-time
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updates to your financial life so
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overall guys I have found the true bill
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app to be extremely useful and it's
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honestly one of those apps where even
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the free version is really good it often
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annoys me when you download an app and
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you're limited to what you can do
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because everything else is behind a
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paywall that is just not the case here
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with true bill and I review a lot of
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different apps on my channel and often
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times I'll review them and then take
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them off my phone
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but I've personally found true bill so
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useful especially with the different
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spending categories that I'm actually
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going to keep it on my phone and I'm
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definitely going to be looking back at
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it a couple of times a month just to
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keep track of my spending so anyways
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guys that's gonna wrap up this review I
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hope you enjoyed it
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like I said if you want to sign up for
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true bill and support me for putting
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this video together those links are down
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in the description below but thank you
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so much for watching and I will see you
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in the next video
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