More than 90% of households claim to have a budget, but 84% of the same households admit it … [+]
Financial worries are top of mind for many Americans this year as 35% are worried about being able to pay bills; 36% don’t think they have enough funds after bills for other things, while 33% are stressed about debt according to a recent Fidelity survey. Now is a great time for anyone concerned about their finances to adopt new money habits, mindsets, and practices for 2025—and ChatGPT can help.
Of course, an AI generative model is not a substitute for a licensed financial advisor, nor is it a panacea for all fiscal woes. However, using the requirements below and understanding their respective rationales can help create a basic plan you can stick to that can be shared with professional investment advisors, accountants, attorneys or tax professionals who you believe—to relieve some of the pressure.
The following requests can be intercepted and pasted directly into a free AI chatbot you use such as ChatGPT, Perplexity, Claude or Gemini. Requirements were created using a goal-focused framework that has clear objectives that are actionable and can be customized for each user’s unique situation.
ChatGPT Hack 1—Save at least 10% of salary
Search:“Help me develop a personalized savings plan that enables me to save at least 10% of my salary consistently. Break the plan down into actionable steps based on my monthly income [enter here] and expenses [enter a ballpark estimate here]recommend practical ways to automate my savings and include tips for getting back on track if I fall behind. Also, provide strategies for managing unexpected expenses without derailing my savings goals.”
Reasoning: While the goal of saving 10% of one’s paycheck may seem overly ambitious to non-savers, the Targeted Plan makes it possible. Such a financial cushion is a solid first step and builds the habit of saving, which enables long-term financial stability.
A critical factor is to pay yourself first through regular, automated withdrawals once the paycheck is deposited. Automated savings ensure consistency and reduce the likelihood of missing contributions. Prompti also requires a solution to handle unplanned expenses that pop up.
Customization Options:
- Add: “Include specific recommendations for high-yield savings accounts or investment options for my savings.”
- Edit: “Adjust the plan for someone with irregular income, like freelancers or contractors.”
- Add: “Suggest ways to tie my savings plan to major financial goals, like buying a house, paying for my child’s college, or starting a business.”
ChatGPT Hack 2 — Create a plan to pay off debt
Search:“Design a debt settlement plan tailored to my financial situation, focusing on strategies like the debt collection or avalanche method. Help me track progress, prioritize high-interest debt, and suggest ways to avoid accumulating more debt while maintaining necessary expenses. Include motivational strategies and steps to recover if I miss payments or face setbacks.”
Reasoning: Having a clear debt repayment strategy provides peace of mind, helps reduce financial worries and reduces total interest payments to the creditor over time, meaning you keep more of your money.
Proven strategies like the snowball or avalanche method provide tangible moments that can be seen – increasing motivation and sticking to the plan. A little bit about creating a recovery plan ensures long-term progress even if short-term setbacks arise.
Customization Options:
- Add: “Include specific apps or tools to help me track debt payments and spending habits.”
- Edit: “Focus exclusively on managing credit card debt, as that is my main concern.”
- Add: “Include instructions for negotiating with creditors to lower interest rates or pay off debts.”
ChatGPT Hack 3—Create and stick to a budget
Search:“Guide me in creating a realistic, detailed monthly budget based on the 50/30/20 rule (or another budgeting method). Include categories for fixed expenses, discretionary expenses, and savings, along with recommendations for staying accountable. Suggest adjustments if I overspend or run into unexpected expenses, ensuring I can get back on track.”
Reasoning: While 90% of American households claim to have a monthly budget, 84% of those same households report spending constantly. Creating and following a well-structured budget is a necessary step to taking control of spending and ultimately achieving financial freedom. Having built-in query recovery options helps avoid discouragement if – and when – overruns occur.
Customization Options:
- Add: “Recommend a budget app or spreadsheet template to simplify tracking.”
- Edit: “Adjust the budget for a single parent or household with multiple sources of income.”
- Add: “Include budgeting tips when planning for seasonal expenses like holidays or vacations.”
ChatGPT Hack 4—Help Start Saving for Retirement
Search:“Help me open a basic retirement account, such as an IRA or 401(k) and create a dollar cost-averaging plan tailored to my income and risk tolerance. Provides a step-by-step guide step for setting up the account, choosing low-cost index funds and automating contributions.
Reasoning: The best time to start saving for retirement was 20 years ago, the next best time is right now. Setting up a retirement account early boosts interest growth—which investment guru Warren Buffett called “the 8th wonder of the world”—leading to significant long-term savings.
While the concept of dollar cost averaging softens the impact of market volatility and makes investing more accessible.
Customization Options:
- Add: “Give insight into choosing between a Roth and Traditional IRA based on my tax bracket.”
- Edit: “Focus on employer-sponsored plans, like maximizing a 401(k) match.”
- Add: “Include tips for rebalancing my portfolio over time to align with my goals.”
ChatGPT Hack 5—Create a plan to live on less
Search:“Help me adopt a mindset and lifestyle that prioritizes living within my means. Provides practical strategies for reducing discretionary spending, distinguishing needs from wants, and finding low-cost alternatives to expensive habits. Include tips to avoid lifestyle procrastination and tips to bounce back if I overspend.”
Reasoning: The idea of ”living below your means” is a mindset shift that creates a discipline that questions when dollars “ebb and flow” from your life due to unnecessary or mundane expenses.
Simple lifestyle changes over time can lead to significant long-term savings without sacrificing overall quality of life. Identifying and addressing persistent areas of overspending reduces the risks of short-term setbacks impeding long-term progress.
Customization Options:
- Add: “Suggest minimalist practices or frugal living tips for reducing expenses.”
- Edit: “Focus on living within my means while saving for a major goal, like a down payment on a house.”
- Add: “Include ways to involve my family in adopting this mindset and lifestyle.”
No single plan or strategy from ChatGPT—or any AI model for that matter—can magically erase a mountain of debt or financial worries. However, anyone who uses these prompts and tailors them to their unique circumstances will likely gain greater insight and new ideas to help ease their financial worries.