Thomas Smyth

speaker

80 appearances 1 recordings 1 series first heard Feb 2022 last heard Feb 2022

Thomas Smyth’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Cutting the Fat From Your Budget, With Trim CEO Thomas Smyth · 17 Feb 2022 podcast

So what we say and what we hope we can help folks do is if you've made a New Year's resolution or you're just coming off, you know, it's February now, but February is a good time to make resolutions too.

You could say, hey, look, maybe I need to look at where all my money is going.

and figure out if there are opportunities to save.

And that can be as easy as, hey, it looks like in my list of subscriptions and recurring payments, there are a couple of things that I'm still paying for on my credit card on a recurring billing basis that I've forgotten about.

Maybe I should go in and cancel those, right?

Or another example is telecom bills, you know, your phone bill, your cable bill, your satellite TV bill.

All of these have a tendency to go up every year, right?

And so we can negotiate those for folks and help to lower those prices down if there's an opportunity for a promo or discount.

But I think it's just good for consumers to sort of wake up and go, hey, there's a team of data scientists working in every big corporation in the world, figuring out how to optimize my average revenue.

And maybe as a consumer, I don't want my average revenue to be optimized today.

Maybe I would like it to be optimized in my direction.

So that's kind of what our goal is at Trim, is to figure out how to make folks' budgets more in line with their expectations.

Yeah, well, the first would be there is a huge seismic shift in our society toward digital finance.

That is overwhelmingly present in our conversion funnels, in our signups, just in the behavior that users exhibit when they use Trim.

This is normal now.

In a way that I think five years ago when we started, it was still kind of weird to link up your bank account data to a third party.

That is now de rigueur in the industry.

And I think folks of all ages are more and more comfortable with that idea.

So I think that's just kind of a general trend is that people say, hey, I'm willing to give you more permission.

I'm willing to ask you to do more things.

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