What ChatGPT Thinks You Should Do With Your Money – Part 1

What ChatGPT Thinks You Should Do With Your Money – Part 1

AI is all over the news, our news feeds, and our conversations in general. Almost every industry is talking about AI and what it can do for us, so is the finance world any different?

There are millions of different opinions when it comes to how to manage your finances, so why not see what AI has to say?

As a test not only to see how our top tips stack up, but also as a fun way to see how AI works and to see how a robot can try to make personal finance fun, we’ve asked ChatGPT what it thinks are the 10 best personal finance tips for our readers.

The best bit is – it  gets most of the core philosophies spot on. Although it is very light on the details and hasn’t given much in the way of specifics. That being said, you should always seek professional advice before acting on information you read below.

From debt dominoes to “time in the market vs. timing the market”, ChatGPT had some amazingly similar core messages that are renown industry wide to be effective for your personal finances.

Whilst we obviously do not recommend taking financial advice from AI (haven’t replaced us yet anyway), we’ve found it a really interesting and eye-opening experiment, especially as we head into a new age of technology and use of artificial intelligence.

Check out what ChatGPT had to say here:

“Welcome, dear readers, to the whimsical world of personal finance, where numbers, budgets, and savings become friends you can count on. Today, we embark on an adventure guided by none other than ChatGPT, your trusty financial companion. Buckle up and prepare to laugh and learn as we share ten humorous yet accurate personal finance tips to help you navigate the treacherous waters of money management.

1. Budgeting: The Art of Balancing Wants and Needs. Budgeting doesn’t mean giving up on all life’s pleasures, like that extra scoop of ice cream or the latest gadget that’s calling your name. Instead, think of it as creating a “financial buffet.” Allocate most of your resources to the essentials, and save a portion for the fun stuff. The key is to be flexible, just like your stretchy pants on an all-you-can-eat day!
2. Save like a Squirrel: Nuts for the Future. Picture yourself as a squirrel preparing for winter. Save those nuts, err, dollars for the rainy days ahead. Create an emergency fund to avoid running up a tree when unexpected expenses strike. Remember, acorns today can prevent you from feeling “nutty” tomorrow!
3. Debt Management: A Strategic Game of Whack-a-Mole. Dealing with debt can feel like a never-ending game of Whack-a-Mole. Attack one debt at a time, starting with the peskiest one, while paying the minimum on others. Once you’ve dealt with one, move on to the next. Before you know it, you’ll be a whiz at knocking those debts right out of sight!
4. Investing: The Money Rollercoaster. Investing can be a thrilling ride full of ups and downs, much like a rollercoaster. Buckle up and stay on the ride for the long haul, even when the markets toss you around like a popcorn kernel in a microwave. Remember, it’s not about timing the market; it’s about time in the market!
5. Risk: The Art of Walking on a Tightrope. Life is full of risks, but avoiding them altogether is like trying to cross a tightrope without taking a step. Embrace smart risks, like investing in diverse assets, but always ensure you have a safety net (a financial trampoline, if you will) to catch you if you stumble.”

Tune in for part 2 of What ChatGPT Thinks You Should Do With Your Money soon!

If you’ve had a laugh about this but want to chat about it further, or any aspect of your finances, you can get in touch with us or book a free 20 Minute Discovery Call here.