AI in Personal Finance: Budgeting and Investing Smarter

Keeping track of finances is stressful. Fortunately, AI fintech apps are here to help you save more, spend less, and understand where your money is actually going.

1. Cleo (The Roast Master)

Cleo is an AI chatbot that connects to your bank account. It can "roast" you for spending too much on coffee or "hype" you when you save money. Its conversational interface makes budgeting feel like chatting with a (judgemental) friend.

2. Monarch Money

After Mint shut down, Monarch emerged as a top contender. It uses AI to categorize your transactions automatically with high accuracy, giving you a clear picture of your net worth and recurring subscriptions.

3. Magnifi (Investing Copilot)

Magnifi acts as an AI investment assistant. You can ask it questions like "Find me ESG-friendly tech stocks" or "How would a recession affect my current portfolio?" It helps demystify the stock market for beginners.

Disclaimer

AI tools are helpful for analysis and organization, but they are not financial advisors. Always do your own research or consult a certified professional before making significant investment decisions.