{"id":1059709,"date":"2025-06-11T12:30:59","date_gmt":"2025-06-11T16:30:59","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=1059709"},"modified":"2025-06-11T14:40:13","modified_gmt":"2025-06-11T18:40:13","slug":"ways-to-let-ai-do-your-financial-heavy-lifting","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/blog\/ways-to-let-ai-do-your-financial-heavy-lifting","title":{"rendered":"5 ways to let AI do your financial heavy lifting"},"content":{"rendered":"

Sick of carrying your financial burdens alone? Sifting through bank statements, navigating investment decisions and tackling your budget every month can be a pain.<\/p>

But in the age of robotic dogs and self-driving vehicles, artificial intelligence can help you cut through the slog and manage your finances easier than ever\u2014and have fun doing it.
\"piggy<\/p>

Use budgeting & expense tracker apps<\/h3>

The pen-and-paper method of tracking your money really is tried and true. Millions of people have tried it, and it\u2019s truly easy to make mistakes.<\/p>

As personal and unique as the handwritten word is, the complexity of modern personal finances makes it essential to use budgeting tools that aggregate payment details from many sources, auto-calculate figures and generate big-picture reports.<\/p>

That\u2019s where AI comes in.<\/p>

\n

Budgeting and expense tracker apps typically use AI to scan your banking activity and identify your income and expenses to show you where your money is going.<\/p>\n<\/div>\n

Usually, all you have to do is create an account and follow the app\u2019s prompts to connect to your bank account(s). After that, AI takes over and crawls your data, creating easy-to-read visuals that break down your spending categories. It\u2019s a great way to clearly see if you\u2019re on track to meet your goals and where your money habits need a little work.<\/p>

Popular finance apps Cleo and YNAB (You Need A Budget) collectively have millions of downloads.<\/p>

Take a glance at Reddit to see what people are saying about budgeting apps, and you\u2019ll see how many people have gotten hooked on the freedom and protection that comes with having their finances scrutinized by a pair of artificially intelligent eyes. Of course, you\u2019ll find complaints too. Not all apps are equal, but it doesn\u2019t hurt to dive in and give one a try.
\"chart<\/p>

Set & forget your investments with a robo-advisor<\/h3>

If the thought of having Alexa listen in on your home conversations is a little disconcerting, take comfort in knowing that managing your money with AI doesn\u2019t require surrendering your humanity to the dystopian control of a bot army.<\/p>

In fact, much of the AI tech available today operates in the background with little or no interruption to your everyday life.<\/p>

That\u2019s certainly the case with robo-advisor investment services. While a \u201crobo-advisor\u201d might sound like C-3PO in a business suit, it\u2019s actually just technology that selects and adjusts investments for you based on your goals, risk tolerance and preferences. SoFi, Acorns and Justwealth are a few examples.<\/p>

\n

One of the great benefits of using a robo-advisor is the low cost involved.<\/p>\n<\/div>\n

You\u2019re not paying for a professionally-trained human financial advisor, although some robo-advisors come with professional human advice if you need it.<\/p>

Robo-advisory fees often run under 0.5% of your total assets under management (AUM), while professional financial advisors may cost between 1% and 2%. To give you an idea of the savings, a 0.38% robo-advisory fee for a $100,000 portfolio runs around $380, while a 1.5% professional management fee would cost you $1,500\u2014or $1,120 more down the drain.<\/p>

This example may not reflect all the fees and costs you might pay, but it shows how much you could save by cutting back your asset management costs.
\"heart<\/p>

Monitor and improve your credit score<\/h3>

AI may be touted as a magic wand of sorts, but it can\u2019t fix a bad credit score. It can, however, help you understand your score and find ways to improve it.<\/p>

Giving consumers a peak at the breakdown of their credit scores is a natural evolution for an industry that has already been using AI for years to evaluate credit applicants\u2019 risk levels and process approvals. In fact, machine learning has been used by financial institutions since the 1980s<\/a>, with the FICO Score rating system officially launching in 1989.<\/p>

Companies like Credit Karma and TransUnion provide credit monitoring services that use AI to scan individuals\u2019 credit histories, spot weaknesses, suggest fixes and promote relevant credit products.<\/p>

While no one wants to be inundated with ads tempting them to get into debt, this can be a good way to find out about low APR loans or balance transfer promotional offers that can help you consolidate debt, save on interest fees and maybe even get rewarded for everyday spending.<\/p>

Many financial companies, including American Express and Capital One, offer free credit monitoring and personalized insights when you become a customer. Before signing up for a paid service, find out if your bank or credit card issuer already offers credit monitoring.<\/p>

\"phone<\/p>

Get personalized advice from an AI financial coach<\/h3>

Paying your bills and setting aside money for a rainy day might sound straightforward until you actually sit down and do it.<\/p>

Ticking off all the right financial boxes for yesterday, today and tomorrow can be complicated when you factor in debt repayment, emergency savings, investing, monthly expenses and everything else on your platter.<\/p>

\n

Wouldn\u2019t it be nice if you had a knowledgeable coach available on demand to help you create a plan and stick to your goals? An AI financial coach can help.<\/p>\n<\/div>\n

Human financial coaches are a solid option too, but AI coaching may be more affordable in some cases and can be used just about anytime, anywhere, provided you have access to the app.<\/p>

AI has been serving the financial services industry for decades, but direct-to-consumer AI financial coaching is still relatively new.<\/p>

Personal finance app Origin launched an AI-powered financial assistant that, among other things, offers a retirement readiness assessment and analyzes users\u2019 spending patterns to make recommendations for cutting back expenses<\/a> and bumping up your savings.
\"helping<\/p>

Negotiate lower bill payments<\/h3>

When you get into a rhythm of paying bills, your expenses can feel set in stone. But did you know that you may be able to ask for lower rates or fees for some types of expenses? Credit card interest rates and phone and internet costs may not be as fixed as you think.<\/p>

If gearing up to haggle with a big company over prices sounds out of your league, let AI help.<\/p>

Free chatbots like ChatGPT and Gemini can draft messages to your service provider requesting lower rates or fees. You should never give a chatbot sensitive personal or financial information like your bank account number or credit card number. But you can use AI to draft a template for the type of message you want to send and then copy it into your own document to complete with the details.<\/p>

\n

If you\u2019re willing to shell out a little money to save more in the long run, you can even sign up for an app that uses AI to negotiate expenses or debt repayments on your behalf.<\/p>\n<\/div>\n

For instance, Kikoff AI Debt Negotiation will, with your permission, request money-saving offers from your debtors. You\u2019ll have the opportunity to review and accept any available offers within a limited time frame.<\/p>

We aren\u2019t yet living in a world where every household wakes up to a robot serving freshly made breakfast, but we do have a growing range of AI tools at our fingertips to save smarter, spend more wisely, make money<\/a> and financially prepare for the future.<\/p>

<\/div>\n
\n

More on finance<\/h3>\n
\n
\n
\n
\n
\n
<\/source> \"How <\/picture> <\/a> <\/figure>
Sponsored<\/span> News<\/span> <\/div>

3 ways to protect your bank account from AI financial fraud<\/a> <\/p> <\/header>

SPONSORED: Scams are getting harder to detect, thanks to AI. But a powerful identity protection toolkit can help you stay safe.<\/p> <\/div> <\/article> \n<\/div>\n

\n
<\/source> \"3 <\/picture> <\/a> <\/figure>
Sponsored<\/span> News<\/span> <\/div>

3 ways to protect your personal information after a major corporate data leak<\/a> <\/p> <\/header>

SPONSORED: Professional identity theft protection can save you loads of time and money in the event of a data breach.<\/p> <\/div> <\/article> \n<\/div>\n

\n
<\/source> \"SpaceX\" <\/picture> <\/a> <\/figure>
Blog<\/span> <\/div>

Stocks and funds to watch as SpaceX prepares for an IPO<\/a> <\/p> <\/header>

We explore SpaceX\u2019s plans for growth and other investments that may rise with the tide when the company goes public.<\/p> <\/div> <\/article> \n<\/div>\n

\n
<\/source> \"4 <\/picture> <\/a> <\/figure>
Sponsored<\/span> News<\/span> <\/div>

Ready, set, grow: 4 key features to look for when choosing a business account in 2026<\/a> <\/p> <\/header>

SPONSORED: Ready to start a business or side hustle? Keep up the momentum with a bank account that offers these key features.<\/p> <\/div> <\/article> \n<\/div>\n

\n
<\/source> \"What <\/picture> <\/a> <\/figure>
Blog<\/span> <\/div>

What type of investor are you?<\/a> <\/p> <\/header>

From stocks and bonds to crypto and real estate, how do you know which investments are right for you? The key is in knowing your investment style. <\/p> <\/div> <\/article> \n<\/div>\n

\n
<\/source> \"5 <\/picture> <\/a> <\/figure>
Sponsored<\/span> News<\/span> <\/div>

5 ways to protect your digital footprint\u2014and identity\u2014in 2026<\/a> <\/p> <\/header>

SPONSORED: Staying safe online means more than creating strong passwords. Find out how a toolkit like Equifax Complete can help protect you from online security threats.<\/p> <\/div> <\/article> \n<\/div>\n \n <\/div>\n <\/div>\n

\n