Saving money can be incredibly challenging for a lot of us. In fact, most people don’t even have emergency savings that they can use during a rainy day. But imagine if you had a smart and AI-powered saving assistant in your pocket. That’s where these AI money management services come in to help you.
1. Wally
Cost: Free
Wally is one of the best all-around finance apps that you can use to track your spending. It is a fully automated finance app that can keep tabs on your cash flow while also simplifying your financial and budgeting decisions. It automatically groups your expenses and income streams from your connected financial, banking, and investment accounts.
It makes use of forecasting software that can give you personalized suggestions on how much you should save. Wally is powered by WallyGPT, which is a built-in chatbot service.
On top of that, Wally can be used with different accounts from over 70 countries, making it one of the most versatile and widely used financial management services apps around.
Plus, Wally is compatible with accounts in over 70 countries, making it a helpful service for those whose finances are spread across multiple currencies.
2. Cleo
Cost: Free
Cleo is one of the most popular AI-powered savings apps available today. The major selling point of this app is its interactive chatbot, which allows you to ask basic questions regarding your finances. Its powerful AI can even give you financial insights on top of answering your basic questions.
The app comes with a unique autosave feature that is able to determine how much you’re able to save on a weekly basis. It also sets aside your savings automatically and even “fines” you by moving a certain amount to your savings whenever you spend on nonessential products.
So, in a way, Cleo actually “forces” you to save and punishes you for spending your money too much. It is a uniquely interactive product that offers real-time feedback that a lot of users find helpful. Its unique and tailored advice has also been helpful in guiding users into becoming better spenders.
3. PocketGuard
Cost: Free (Basic); $7.99 for PocketGuard Plus
The major selling point of PocketGuard is that it is great at helping you keep your eyes open for potential fraud. It works as a fraud detector that ensures the security of your financial data as soon as you connect your bank account with it.
On top of its fraud detection feature, PocketGuard gives you AI-powered spending insights that will allow you to get a good visual of your financial health. You get to see all of your accounts and transactions so that you can get an overview of how much you’re worth. The app also tracks bill payments and other similar expenses.
Another neat feature that this app has is its budgeting insight, which allows you to get insight into your spending habits. It tracks your income and expenses to make sure that you stay within a realistic budget.
4. Rocket Money
Cost: Free; $3 to $12 for Premium
Using a combination of AI-powered analysis and your own data, Rocket Money is able to keep track of all your subscriptions and recurring payments so that you can see how much money you spend on smaller payments that can add up to hurt your budget. You can even identify which of your recurring payments are unnecessary so that you can take them off of your monthly payments or allow the app to cancel them for you.
Another neat feature that Rocket Money comes with is its autosave functions, which allow the app to predict how much money you can save during a certain stretch of days. It automatically transfers that amount to your savings account.
But the best reason why you may want to get Rocket Money is that it identifies expenses that you can easily overlook and then gives you the option to cancel them so that you can put the money into your savings instead.
5. Magnifi
Cost: $13.99 per month or $133.99 annually
Instead of simply acting as a savings assistant, Magnifi is also an AI investing assistant that gives you personalized guidance when it comes to researching and buying investments. It can manage and diversify the user’s portfolios and allow the user to learn more about investing.
Magnifi also allows you to link all of your investment accounts with it or to simply use the app for investing. It leverages the use of AI to analyze different investment possibilities and save you from costly investment mistakes that can hurt your savings and net worth.
