The Best Ways to Kickstart Your Savings
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Budgeting tools that can end your toxic relationship with personal finance đ©
We get it - managing your finances in 2023 is hard. The constant stream of Instagram and TikTok ads,  a chaotic economy, and the feeling that savings goals like buying a house are further and further out of reach⊠itâs easier than ever to fall into a spending rut.
Luckily, your spending habits arenât like your horoscope. Theyâre not fixed for life. Sorry, Scorpios.
If youâre spending recklessly, youâve abandoned your savings goals, and youâre living paycheck-to-paycheck, itâs much easier to turn your habits around with these budgeting tools.
With these tools, all the brain-frying math and unpleasant tasks are automated, and you get a tailored budget with room for treats.
We're about to dive into the game-changers: Expense Categorization, A Personalized Budget, Automatic Saving, Roast Mode, and the Haggle it Tool. (Yes, these are all free budgeting features with Cleo. Youâre on the Cleo blog. Weâre biased)
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Expense categorization is basically like your map for changing your spending. It gives you a picture of your whole money situation and shows you the path to fixing it.
In the past, this would have involved manually logging each expense on an Excel spreadsheet over the course of a month, and shedding a few stress tears as you turn this into a budget. With the right budgeting tool, all of this is automated.
You log into the Cleo app, and pretty much the first budgeting tool you encounter is the Expense Categorization feature.
Cleo's AI analyzes your bank transactions and automatically categorizes your spending into categories like 'Groceries,' 'Entertainment,' and 'Transport.'
This alone helps you to make informed money decisions, steering your spending chemistry in a healthier direction. Trust us, once you see how much you spent on Uber last month, youâll find the motivation to stick to your budget.
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Now that you've got a clear picture of your spending habits, it's time to set up a budget that suits your lifestyle. Enter the Personalized Budget tool. This one's all about customizationâ because budgeting isnât a one-size-fits-all approach.
With Cleo's Personalized Budget, sheâll set spending limits for each category based on your income, goals, and priorities. Then you can go back and customize them ever further. And sheâll DM you when youâre about to hit your spend limits in real-time, keeping you on track and mindful of your spending.
It's like having a virtual financial advisor who understands your unique financial situation and keeps you on track 24/7.
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Having savings? So much fun. Actually putting the money aside to build savings? Painful.
Life throws curveballs, and impulse purchases can derail your savings goals. This is where Automatic Saving comes to the rescue.
When you sign up for autosave, Cleo finds clever ways to save you money and automatically moves it into your wallet at regular intervals. So you just watch your savings stack up. It takes the guesswork out of saving, so you can consistently put towards a goal, and it stops you from splurging cash that was already earmarked for savings.
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This is where Cleo differs from an actual financial advisor, and is more like that Aunt you want to talk to for the whole family party but are also a little scared of.
If you need a little tough love to keep you on track with your budget, Cleo will literally roast you.
Here's how it works: you type âroast meâ into the chat (if you dare) and Cleo will do exactly that.
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Last but not least, we have the Haggle It Tool. This one's all about helping you save money on bills and rent.
The Haggle it Tool takes the hassle out of negotiating with service providers. It can help you find better deals on things like internet, cable, or even your rent. It's like having a personal negotiator in your pocket, making sure you're not overpaying for services you use regularly.
You just tell Cleo what expense you want to haggle and let her know how fiery you want the tone to be, and sheâll write you a good-to-go letter to Whom It May Concern.
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In a world where it's all too easy to slip into bad spending habits, these budgeting tools are designed to help you budget smarter, save effortlessly, and stay on top of your finances.
The reward? Financial freedom and peace of mind. Youâve got this. Cleoâs got your back.
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*Eligibility requirements apply. Not all users will qualify. Advance amounts range from $20 to $250. Same day transfers subject to express fees. Visit meetcleo.com/terms for more information.
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