2023-08-24
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Money Hacks

Change Your Spending Chemistry With These Budgeting Tools

Budgeting tools that can end your toxic relationship with personal finance 🚩

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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… it’s easier than ever to fall into a spending rut.

Luckily, your spending habits aren’t like your horoscope. They’re not fixed for life. Sorry, Scorpios.

If you’re spending recklessly, you’ve abandoned your savings goals, and you’re living paycheck-to-paycheck, it’s much easier to turn your habits around with these budgeting tools.

If it’s an emergency, Cleo could spot you up to $250. No credit checks. No interest. No stress.*

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. You’re on the Cleo blog. We’re biased)

Expense Categorization: Budgeting Tools #1

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, you’ll find the motivation to stick to your budget.

A Personalized Budget: Budgeting Tools #2

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 customization– because budgeting isn’t a one-size-fits-all approach.

With Cleo's Personalized Budget, she’ll set spending limits for each category based on your income, goals, and priorities. Then you can go back and customize them ever further. And she’ll DM you when you’re 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.

Automatic Saving: Budgeting Tools #3

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.

Roast Mode: Budgeting Tools #4

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 “roast me” into the chat (if you dare) and Cleo will do exactly that.

The Haggle it Tool: Budgeting Tools #5

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 she’ll write you a good-to-go letter to Whom It May Concern.

Budgeting Tools | The Lowdown

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. You’ve got this. Cleo’s got your back.

Enjoy this post? Give it a share or send it along to a friend. You never know, it could make a big difference. Big love. Cleo 💙

*Eligibility requirements apply.
If it’s an emergency, Cleo could spot you up to $250. No credit checks. No interest. No stress.*

FAQs
Still have questions? Find answers below.
How does Expense Categorization help?
What is a Personalized Budget, and how does it help?
How does Automatic Saving work?
What does Haggle It do?
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