The AI Budget App: Your New Personal Finance Guru

Not to be dramatic (actually yes to be dramatic), but budgeting without the help of a money app in 2023 will literally have us crying over an Excel spreadsheet. From unexpected expenses to fluctuating income, the challenges of keeping track of your money are an added stress on top of an already stressful topic.

Enter AI budget apps. These virtual money assistants can help make the whole money thing way easier by taking the boring (but important) tasks of your hands, offering smart insights, and eventually even changing your relationship with money altogether.

We’re gonna talk about all the great things money apps can do for you, using Cleo’s free budgeting features as an example. Because you’re literally on Cleo’s blog right now. And our lawyers told us we’re not allowed to talk about other apps anymore.

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How AI Budget Apps Make Things Easier

It’s a frightening image–  attempting track all your transactions, manually categorizing your expenses, and painstakingly attempting to create a budget that aligns with your goals.

This is where AI budget apps shine. Ai budget apps like Cleo sync seamlessly with your bank account, analyze the data using fancy algorithms, and work their magic. Every transaction is tracked, every expense categorized. You get a clearer, more accurate picture of your financial situation, allowing you to make smarter decisions without having to make a single calculation. Nice.

Once you’ve connected your bank to Cleo, she’ll categorize your expenses (and you can go back and tweak them) and create you a personalized budget. You get tailored spend limits for each spend category– stuff like groceries, eating out and shopping– based on your spending patterns. You can go back and tweak these too, to personalize them even further.

It’s basically super low-effort on your side, and Cleo keeps doing the work throughout the budget cycle to keep track of your expenses, show you where you are and keep you on track (more on this in the next section). You can go about your life thinking about money as little as possible.

The fun part is that this all happens as easily as tapping a few buttons and having a conversation with Cleo. You don’t have to be a tech bro to get along with Cleo– you just type what you need in chat, and she’ll take you to where you need to go. Not even the faintest hint of a spreadsheet in sight.

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How an AI Budget App Can Change Your Relationship with Money

It’s not just creating you a beautiful budget. An AI budget app is like a financial advisor in your pocket – one that understands your spending habits, recognizes potential pitfalls, and offers real-time insights.

By offering real-time alerts and recommendations, they keep you mindful in your spending, and help you break compulsive spending habits. For example, Cleo will literally DM you when you’re about to hit a spend limit on a certain category, or when a bill is due. Not only does this help you change your spending patterns, it massively reduces money stress– no more worrying if your card is gonna get declined when you go to pay at brunch. Cleo has already told you how much you have left to spend.

And if you need a little tough love to stay motivated, Cleo’s got you there, too. Type “roast me” into chat, and she’ll show you something scary. Like how much you spend on Uber last month. With love.

As well as alerts, Cleo helps change the way you see money (literally) with visuals. Plain figures can be a hard thing to picture in your head, but with Cleo’s budget, you get to see how much you have left to spend as a proportion of your money as a whole. This also helps you stay motivated with goals– you get to physically see how much money you’re saving each budget cycle.

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How an AI Budget App Helps You Reach Goals Faster

On top of building you a personalized budget, saving you a ton of time there, Cleo will also automate your savings. At regular intervals, she’ll show you clever ways you can save money and– with your permission– move money into your Cleo wallet.

With this efficiency, you can save on autopilot. You just sit back and watch your money stack.

Wanna get even more efficient? Cleo can help you save money on your bills and rent with Haggle It. Then you have even more money to put aside towards your savings. You just tell Cleo what you want to haggle, and she’ll create you a good-to-go letter to send to Whom it May Concern. 1 in 3 survey respondents said they successfully managed to save some money, so we think it’s worth a shot.

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Ready to see what Cleo can do for you?

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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 💙