Your AI Personal Finance Assistant: Top Apps for Managing Your Money

Managing your finances can be a daunting task at the best of times.

Here’s the good news: thanks to the emergence of personal finance apps, crying over Excel spreadsheets is a thing of the past.

These apps are powerful tools to help you take control of your money and make informed financial decisions. Add artificial intelligence (AI) to the mix, and now money apps can provide personalized financial guidance, track expenses, set budgets, and even offer investment advice.

At Cleo, we’ve been on the AI hype for years. Literally. So in this blog post, we’re gonna explore five top-rated personal finance apps and delve into their unique features. Including if and how they incorporate AI to enhance your experience.

Yes, okay, we did include Cleo, but we also included four others because we’re ✨ unbiased ✨

Let’s jump in.

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Cleo: Your AI Money Assistant

As we said, we’ve been on the AI thing at Cleo for about 6 years now. What this means? You can chat with Cleo like you would an IRL money assistant. So you can type questions into the chat with Cleo, and she’ll answer you.

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Here are some other ways Cleo incorporates AI to improve your experience:

Haggle It: Want cheaper rent or bills? With Haggle It, Cleo uses AI to tailor you a ready-to-go negotiation letter to send to Whoever It May Concern. One in three survey respondents said Haggle It successfully helped them reduce their rent or bills. Nice.

Expense Tracking: Cleo automatically categorizes your transactions, allowing you to visualize where your money is going. Her AI algorithms learn from your spending patterns to provide personalized insights and identify potential areas for improvement.

Budgeting and Goal Setting: With Cleo, you can set spending limits and savings goals. Her AI-powered algorithms analyze your income and expenses to suggest realistic budgets tailored to your financial situation. She’ll give you nudges and reminders to help you stay on track.

Saving: Cleo can automate your savings in a couple of ways -

Set & Forget: Pick an amount up to $24 and Cleo will set it aside each week for you

Round Up: Cleo rounds up and sets aside the change from your spends each week

Smart Save: Cleo uses ~algorithms~ to set aside money each week

Swear Jar: Get "fined" when you spend at selected retailers (the fine goes into your Cleo Wallet each week)

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Mint: The All-in-One Financial Hub

Mint is a personal finance app that offers a wide range of features to help you manage your money effectively. Developed by Intuit, the creators of TurboTax and QuickBooks, here are a couple of Mint’s exciting features:

Budgeting and Expense Tracking: Mint allows you to create personalized budgets and tracks your expenses automatically. Its AI algorithms analyze your spending patterns to provide insights and identify potential savings opportunities.

Bill Tracking and Reminders: The app can connect to your bank accounts and credit cards, sending reminders for upcoming bills and helping you avoid late fees.

Credit Score Monitoring: Mint provides a free credit score monitoring feature that tracks your credit health. It uses AI to provide personalized recommendations for improving your credit score over time.

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Empower: Your Wealth Management Assistant

Empower is a personal finance app that combines budgeting and investment management features. It caters to both budget-conscious people and investors looking for financial planning assistance. Here are a few noteworthy features:

Investment Tracking: Empower syncs with your investment accounts and provides a holistic view of your portfolio. It uses AI algorithms to analyze your investment performance, provide insights, and suggest potential improvements.

Retirement Planning: The app incorporates AI-powered calculators to help you plan for retirement. By considering factors such as age, income, and savings, it provides personalized projections and recommendations to achieve your retirement goals.

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YNAB (You Need a Budget): Every Dollar Has a Job

YNAB’s budgeting philosophy is to give every dollar a job. It aims to help you break the cycle of living paycheck to paycheck. Here are some of YNAB’s features:

Zero-Based Budgeting: YNAB encourages users to assign each dollar they earn a specific purpose, ensuring that every cent is allocated wisely.

Real-Time Syncing: The app syncs with your bank accounts and credit cards in real-time, allowing you to track your transactions and stay up to date with your budget. While the AI aspects are pretty minimal, the app's simplicity and philosophy make it a great choice for budgeting.

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Albert: All-in-One Personal Finance App

Albert is a finance app that combines budgeting, savings, and investment features with the help of AI-driven technology. Its aim is to automate and simplify your money management tasks. Key features of Albert include:

Smart Savings: The app analyzes your income and spending patterns to determine how much you can save. Albert's AI algorithms automatically transfer small amounts from your checking account to a savings account, helping you build an emergency fund.

Expert Guidance: Through its subscription-based service, Albert offers access to financial experts who can provide personalized advice and answer your financial questions. AI-powered chat features also help in guiding you through financial decisions.

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Personal Finance Apps | The Summary

Whether you're tracking expenses, setting budgets, saving for the future, or investing wisely, there's a personal finance app out there to help you achieve your goals.

Based on your specific needs, it’s best to shop around until you find the right one for you.

If you do wanna try Cleo for free, you can download the app right here 🙃

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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 💙