Grow Your Wealth

Maximize Your Finances: Uncovering the Best Ai Budgeting Tools

Stop 🚩 doing your budget 🚩 in your head 🚩

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Managing your finances in 2023 is hard. From student loans and rent, to inflation affecting everything down to the price of orange juice. Sh*t’s expensive.

And it’s not just managing your finances. It’s managing your finances on top of working full-time, meal planning, keeping up with friends and family, doing your laundry, and trying to exercise.

Here’s where artificial intelligence comes to the rescue. AI budgeting tools do the work for you by automating the brain-frying tasks and finding smart ways for you to save money. You just stick to your personalized budget (and they’ll even help with that, too).

In this blog, we're gonna take a look at the free AI budgeting tools you can get with Cleo (because, ahem, you’re literally on our blog rn) and how they can make managing your money a breeze.

Budgeting Tools: They’re Actually Useful, We Swear

Good budgeting tools minimize the amount of time you have to spend on your budget.

They're designed to help you take control of your spending, plan for your future, and ultimately achieve your financial goals– with minimal work on your part. You just stick to the budget. And they can help with that, too. Add AI to the mix, and it’s basically like having access to a virtual financial advisor 24/7.

AI can crunch numbers faster and more accurately than any human ever could. It can analyze your spending habits, categorize your expenses, and identify trends that might be causing mishaps.

Now let's talk about how exactly Cleo uses the power of AI  to create budgeting tools that make money easy for you.

Expense Categorization: Sorting Your Financial Life

The foundation block of any budget is Expense Categorization. It’s the first tool you’ll come across, the most time-saving tool, and the greatest motivator.

It may sound simple, but having automatic expense categorization is super important– if you were doing a pen-and-paper budget, you’d have to manually log every single expense for your whole budget cycle, then manually sort them into categories.

With Cleo, she uses her fancy algorithms to analyze your spending and automatically sorts them for you in real time.

Not only does this save you time but it also gives you a clear picture of where your money is flowing, giving you a sense of control over your finances and a place to start your money journey.

A Personalized Budget: Your Financial Roadmap

We all have different financial goals. Money changes each month. Cleo gets that.

She creates a budget that's tailored to your income, expenses, and aspirations.

Here’s how it works: You’ve got your expense categories. Cleo then assesses which categories you can cut back on, and sets spend limits for each. She’ll then DM you when you’re about to reach your limit, so you can be nice and prepared (no more surprise-over-drafting after bougie brunch).

Having these alerts in real-time keeps you present with your spending, and strengthens your self-restraint muscle. It gets easier and easier as you go, and you have the budget as a visual motivation.

Automatic Saving: Building Wealth, One Week at a Time

Saving money can be hard, especially when temptation is just a click away. That's where Cleo's Automatic Saving feature comes in.

Cleo identifies smart opportunities to stash away money each week and, with your approval, automatically transfers it to your Cleo wallet. You won't even notice it's gone, but you'll definitely notice it when you check your savings account.

Just type "autosave" into chat to get started.

Roast Mode: Brutally Honest Money Advice

Sometimes you need a little tough love when. Cleo's Roast Mode is your brutally honest financial best friend. She won't sugarcoat the truth. If you're overspending in a certain category or need to cut back, Roast Mode will call you out on it. DW, she won’t do it out of the blue, you type “roast me” into chat to get started (if you dare). And if you need a little non-tough love, trying typing “hype me.”

The Haggle It Tool: AI-Powered Bill Negotiation

Not only does Cleo find you ways to save on your non-essential spending, she’ll also help reduce your essential spends.

Negotiating bills and rent can be intimidating. But Cleo's got your back with the Haggle It Tool.

Using AI, Cleo generates a tailored letter to Whom it May Concern, politely but assertively requesting a better deal. It takes the stress out of haggling and can save you a chunk of money each month. 1 in 3 survey respondents said they saved money with Haggle It– we think that’s a pretty great number.

The Bottom Line: Budgeting Tools and AI

Cleo AI's budgeting tools will simplify your financial life. They categorize your expenses, create personalized budgets, automate savings, give you honest advice, and even negotiate on your behalf.

In a world where it's all too easy to fall into negative spending patterns, Cleo's AI budgeting tools are your go-to. They're like having a financial advisor in your pocket, available 24/7 to help you make smart money decisions.

The best time to start using them? Right now.

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

In a tight spot? Cleo could cover you up to $250 until payday.* No credit checks. No interest. No stress.

Still have questions? Find answers below.
What are AI budgeting tools, and why should I use them?
How can AI budgeting tools benefit me?
How does Cleo use AI in its budgeting tools?
What is Expense Categorization, and why is it important?
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