NEW YORK: A ChatGPT family budget experiment prioritised housing, groceries, transportation and basic healthcare over discretionary spending, targeting subscriptions and dining out for the first cuts.
MoneyLion published the test on August 30 after asking ChatGPT to prioritise spending for a family of four. The chatbot grouped essential costs around housing, food, transportation and necessary medical or childcare expenses.
It then targeted recurring subscriptions, unused memberships and paid apps. Dining out and food delivery followed, with the AI suggesting home cooking as the default and reducing delivery fees where possible.
The experiment also recommended delaying non-essential clothing, furniture and home projects. It proposed free parks, libraries and community activities as substitutes for some paid entertainment.
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For a broader framework, ChatGPT suggested variations of the 50/30/20 budgeting model. MoneyLion said households facing high living costs or debt could shift more income toward essential expenses while reducing the share allocated to wants.
However, the recommendations were not a personalised financial plan. MoneyLion said its article was for informational purposes and warned that AI-generated material can be inaccurate, incomplete or outdated.
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OpenAI now also offers a dedicated Finances experience in ChatGPT for eligible Plus and Pro users in the United States. It can analyse connected spending, subscriptions, bills and savings goals through read-only financial data supplied via Plaid.
OpenAI says ChatGPT can help users plan budgets and understand financial trade-offs but is not a fiduciary, investment adviser, tax preparer or substitute for qualified professional advice.
