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StitcherAliens will soon take over our world? No, it’s probably AI. As robots and AI continue to thrive in the digital realm, there are also ways we can incorporate them into our finances. In this episode, we dive into one of the most popular AI chatbots as of today, ChatGPT. Join us as we uncover ways for you to utilize them to save money by writing creative yet strategic prompts.
People that make you feel guilty about your goals or make you second guess what you’re pursuing, get rid of them. Fill it with people who're going to teach you new things and help you get where you want to be.
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Check out some relevant episodes
From Cheap Flights to Financial Advice, Here's How To Save Money With ChatGPT
This article by Cheapism shares what you can use ChatGPT for in order to save you money.
What Jen + Jill have to say:
If you’re just like Jill and have just recently found out about ChatGPT, it is an artificial intelligence (AI) chatbot wherein you can ask it anything that pops into your head and it will immediately write a response for you. You can use it to create an affordable meal plan or for your next trip! It’s an AI that helps with various types of budgeting and creating a spending plan. But be careful when asking for big or specific investment advice in ChatGPT; it’s not going to give you any real advice, for it is illegal, and we encourage you to speak with a professional or a financial advisor.
For small business owners, it’s a great tool to use to curate their social media feed. It can act as an assistant for your strategic social media posts. Jen tried it out and asked ChatGPT to give her the best budgeting influencers, and to her surprise, Modern Frugality is listed at No. 11! Maybe this is your chance to curate a healthier and better feed for you.
5 Best ChatGPT Prompts To Use for Saving Money
This article by Finance Yahoo tells us how to use ChatGPT more effectively by refining prompts.
What Jen + Jill have to say:
Be specific. Keywords such as “tips”, “strategies”, and “savings” yield more fruitful results than broader questions. Jill adds that you can also add in numeric elements (e.g., 10 strategies on how to save money for my groceries). If it doesn’t answer your question, you can type in a follow-up by refining your question within the same prompt. ChatGPT is still super broad, so we recently found a few different AI fintech companies, such as Parthean, specifically an AI for saving money and giving financial answers. It’s not a substitute for a financial advisor, but that also requires less of the right prompts.
5 ChatGPT Prompts For Personal Finance (and How to Use Them)
This article by ClickUp lists down example prompts on personal finance and emphasizes our ability to utilize ChatGPT to its fullest potential by asking good prompts.
What Jen + Jill have to say:
Using the different ways to write a prompt, you can now use it to craft your personal finance questions. Setting a budget to help you reach your financial goals is a great prompt, but Jill reminds you to specify the time frame, and it can do the math for you. Try asking about jargon and information you are not familiar with in investing instead of asking for advice on it. Jen’s favorite example is the one looking for strategies to reduce debt and improve credit score over the short and long term—it’s succinct, short, and it includes specificity and key terms.
How would you use (or how are you using) ChatGPT to save money?
Jill uses ChatGPT to help her write the Friendletter. For Jen, she uses it to check the work that she tested out by sending out prompts about investment, specifically asking to calculate using an investment formula.
Bill of The Week
Thank you, Emily (from North Dakota) for your bill about your son named William. BUT MORE IMPORTANTLY. you read the warranty and do not need to buy a new car!
Thanks so Much for Listening!
Thanks so much for listening. If you don’t already know, we have a Modern Frugal Living eBook that is FREE and available for y’all to grab all year-round, and we wanted to give a shoutout to this friend who gave the ebook a sweet sweet review:
✰✰✰✰✰
Terrific advice!
Even though I have always been frugal, I found new ways of saving and ways to be happy, not deprived.
Thanks! And if you haven’t gotten yourself a copy yet, check https://www.frugalfriendspodcast.com/ebook.
Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to reviews@frugalfriendspodcast.com. And don’t forget to share your favorite quote from the episode by using the hashtag #FrugalFriendsNote. 😉