Sticking to a budget isn’t always simple, especially when your expenses keep changing. One month, everything is going well for you, and the next, you find yourself wondering where all of your money went. But thanks to new AI-powered apps, managing your money doesn’t have to be stressful anymore.
These smart tools do more than track spending. They offer helpful insights, suggest ways to save, and even send alerts when you’re about to go off course. Here are five AI tools that can help you take control of your money this year.
1. Cleo: Your Budgeting Buddy With a Sense of Humour
Budgeting with Cleo is fun. It doesn’t feel like you’re organizing your expenses but rather like chatting with a brutally honest friend. You can link your bank account, and the app will show you where you spend your money and warn you if it’s too hazardous. Occasionally, it’ll even roast you a little for spending too much.
Additionally, it’s a great app for younger users who don’t want to feel insecure about their money management skills. Cleo gives you information on how to save up and visually organize your monthly finances.
2. YNAB: Every Dollar Has a Job
YNAB is a tool that helps you plan where every dollar should go. It’s based on the zero-based budgeting method, which does not allow leaving anything to chance. You plan where every dollar goes, try to achieve your objectives, and adjust when necessary.
In their first two months, new users save an average of $600, according to a YNAB report. It’s a good choice if you appreciate having complete control over your money and spending instead of just seeing the numbers.
3. Empower: All Your Money in One View
Empower, formerly known as Personal Capital, is more than an AI budget app. Instead, it gives you your whole financial picture. Empower puts your income, spending, savings goals and investments, and bills all in one spot for you. It can also track your retirement savings!
But what makes Empower one of the best AI budgeting tools available is its potential to predict your expenses based on your habits. NerdWallet’s long-term financial planning services are some of their best ideas. This might help you figure out where you are now and where you’re going.
4. PocketGuard: Keeps You From Spending Too Much
PocketGuard is the best app for you if you often wonder how much money you can spend without putting your savings at risk. It tells you how much money you have left over after paying your bills and saving money, so you don’t accidentally spend money you need for basic needs.
As it learns your habits, its AI will let you know if you start to spend more than you have been. Investopedia recommends it for people who want simple and automatic budgeting help. With more than a million users, it’s popular with busy people who don’t want to micromanage every cent.
5. Monarch: Budgeting for Couples or Families
Monarch Money makes it easy for families or couples to manage their finances together by providing a centralized platform. You can keep track of spending across accounts, share goals, and remain on the same page all at the same time. It also gives you helpful advice whenever your income or spending habits change.
Forbes recently praised Monarch for its modern look and smart features. It’s easy to use, adaptable, and great for people who want a budgeting tool that can grow with them.
Let AI Make Budgeting Less Stressful
It’s not just the technology that makes these tools great; it’s also how they make it seem easier to manage your money.
The one that suits you the best can be chosen. Want something playful? Try Cleo. Need structure? Go with YNAB. Are you in search of a comprehensive tool? Empower has your back. Want something easy and automatic? PocketGuard works excellently. Are you budgeting with your partner? Monarch makes it simple.
Start small. You could check your spending once a week or set a single savings goal. You don’t need a perfect budget. All you need is a strategy that suits you.
