[Aida]

How do you uniquely leverage AI for personal finance management?
With AI tools becoming increasingly accessible, many are finding creative ways to use them for managing personal finances.

From budgeting apps and expense tracking to investment insights and financial planning, the possibilities seem endless.

What are your unique approaches or favorite tools that have helped you optimize your personal finance strategies using AI?

Feel free to share your experiences, tips, or even challenges in this area!

[Sadie]

Idk if it’s unique but I had it analyse my spending, find subscriptions to cancel, and help me fix leaks in the boat it also helps me find more money in my budget for investing.

[Christopher]

I found I can get it to tell me I made the right choice no matter what choice I made, so I never have to feel fomo.

“Here are a few points that highlight why investing in VBTLX (Vanguard Total Bond Market Index Fund) instead of VTSAX (Vanguard Total Stock Market Index Fund) over the past 20 years might have been a positive decision…”

[Lynn]

I ask ChatGPT to explain complex topics as though I was a 10 year old, then 15 yr old, then adult without a finance background

[Chris]

I’ve programmed a ChatGPT to basically be a financial guru that is FI-oriented. I ask it to explain things I don’t otherwise understand well.

It’s been really great.

Helped me set up my Roth IRA and consider various ETFs to invest in.

I don’t take everything it says as gospel or anything, but it’s a good starting point, and I weigh it again what I already know and things I can personally research.

[Sacha]

I use ChatGPT to rebalance my portfolio in the most optimal way since I have several ETFs some of which I purchased a very long time ago and do not wish to sell because of cap gains.

ChatGPT has been fantastic in that aspect!

[Ben]

I’ll ask it to provide whatever complex formula I need for Google Sheets to help solve whatever complex math/forecasting problem I also had it solve

[Karl]

Also really cool to use it to reverse engineer on how to hit certain milestones.

“I have x now. And earn x. Help me come up with a game plan to hit 100k net worth by x date.

Open to any FIRE ideas to make it happen”
“I have x properties, make x, and have this side hustle that earns x, help me come up with a plan to increase my passive income to 10k/month”

“I have x invested. How much more do I need to invest to hit 1 million net worth by 2030”

Stuff like that. It’s really good at drilling down into numbers and giving amazing projections or running different scenarios with whatever questions or details you keep blasting at it.

[Karl]

The new ChatGPT models are incredible. It’s like having the Ironman Jarvis system in your pocket.

Can explain any financial or investing topic and now provides sources/links for further reading.

ChatGPT is becoming my go to source to explore anything I’m thinking about related to FIRE, real estate, or just any topic in general.

Can ask it to act or respond like x financial person (Ramit Sethi, Dave Ramsey, Mr.

Money Mustache etc) or get it to provide what each of their opinions would be on whatever you’re thinking about.

-Take a screenshot of a Zillow listing and ask it to help you how to analyze the numbers for a house hack or real estate deal.

-Helped explain various real estate loan programs, requirements, qualifications

-Used it to help me refine Airbnb listings
-Helped me refine my whole Airbnb pricing strategy after digging into seasonal data trends.

-Have been using it a bunch recently before the end of the year to explore tax saving ideas and then run by my CPA (he was surprised how I knew all of what I was sending)

-It’s perfect for summarizing the impossible to read IRS code speak or coming up with ways to help you save creatively.

-Come up with strategic plans for hitting financial milestones. It’s amazingly good at running models/number scenarios.

Can ask it to tweak all sorts of metrics or different events.

-Can coach/hype you up to think bigger. Brainstorm side hustle ideas. I used it recently to run a bunch of numbers and profit/cost projections on an idea I had.

Just let your imagination run wild!

Super powerful tool that we are lucky to have.

[Author]

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