How AI Can Help You Save

How AI Can Help You Save

In recent years, artificial intelligence (AI) has shifted from being a futuristic concept to an everyday tool used in households across the world. From the way we search for answers online to how we manage our calendars, AI is seamlessly integrating into our daily routines, including personal finance. Today, AI is helping individuals make smarter decisions about their spending, savings, and financial goals.

If you’ve ever felt overwhelmed by budgeting or unsure where to start when it comes to cutting back on expenses, AI-powered financial tools can be a game-changer. With features like real-time expense tracking, personalized insights, and automation, these tools can help you better understand your financial standing and empower you to take control of your money.

Whether you’re just starting your financial journey or looking to fine-tune your existing habits, here are five powerful ways AI can help you save money and improve your financial literacy with minimal effort.

REMEMBER: Be mindful of security and sharing personal information when connecting financial apps to your bank accounts*.

 

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Subscription & Bill Management

If you’ve ever looked at your bank statement and wondered what that recurring $9.99 charge is, you’re not alone. It's easy to lose track of old subscriptions or overlook small but frequent charges. That’s where AI tools shine.

AI-powered apps like Rocket Money and Bobby analyze your bank and credit card transactions to identify recurring charges, unused subscriptions, and unexpected fees. These apps often send real-time alerts and can even help you cancel unwanted services with just a few taps (See SoFi Learn for more details & examples).

For people trying to reduce unconscious spending, AI-based bill management offers a smart and simple way to uncover hidden expenses and reclaim control over your budget. Cutting out just a few unused subscriptions could mean saving hundreds over the course of a year.

Automatic Savings Made Simple

If saving money feels hard to stick to, you're not alone. Many people want to save but struggle with staying consistent. That's where automatic savings apps and tools that use AI can make a big difference.

Apps like Qapital and Oportun use machine learning to understand your spending habits. Based on your cash flow and daily expenses, they move small amounts into a separate savings account, sometimes by rounding up purchases to the nearest dollar or setting aside a few dollars every few days. These micro-savings add up quickly over time without you even noticing.

You don't need a third-party app to start this process, either. With United Bank, you can set up your own recurring savings transfers. It’s a secure and direct way to build savings automatically through your online banking account.

Learn more about Recurring Savings with United Bank.

Real-Time Financial Insights

Creating a budget can be overwhelming, especially if you're not sure where to start or what’s “normal” for your income and lifestyle. Fortunately, AI-powered budgeting tools are making financial literacy more accessible than ever.

Apps like Cleo, PocketGuard, and You Need a Budget (YNAB) offer real-time financial insights based on your personal spending data (see the list from Forbes for more details). These tools analyze your income, expenses, and financial goals to give you personalized advice. Some even include built-in AI chatbots that answer questions like “Can I afford to go out tonight?” or “How much did I spend on groceries last month?”

Instead of waiting for a statement or scheduling time with a financial advisor, these tools provide instant updates on your finances, helping you make more informed decisions in the moment.

Smart Home Saving

AI isn’t limited to apps on your phone; it’s also in your home. Using smart home technology like AI-enabled thermostats, energy-saving appliances, and smart lighting systems can lead to significant long-term savings on your utility bills.

For example, devices like Google Nest Thermostat use machine learning to study your daily habits and adjust heating or cooling accordingly. This not only makes your home more comfortable but also ensures you’re not paying for energy when you’re not using it. Smart plugs and connected appliances can also track energy usage, helping you make small changes that add up to big savings.

Integrating smart home energy savings tools into your household routine is a great way to cut costs while also reducing your environmental impact. (Check out Media & Tech Group for more details on AI-enhanced home living.)

AI-Assisted Shopping

Impulse buying is a common spending trap, but even planned purchases can cost more than necessary if you're not using the right tools. AI can help you shop smarter by finding better prices, promo codes, and optimal purchase timing.

Browser extensions like Honey by PayPal and Glance AI scan the internet in real time to find discount codes and automatically apply them at checkout. These tools can also compare prices across different sites and notify you of price drops or cashback opportunities. For frequent online shoppers, AI tools can eliminate the guesswork and ensure you're getting the best value.

Safety First: Smart Use of Financial Apps

While AI offers powerful solutions for money management, always be cautious when connecting financial apps to your accounts. To ensure you're staying safe:

  • Only download apps from trusted sources with strong reviews.
  • Use multi-factor authentication for online banking and personal accounts.
  • Regularly monitor your account activity for any unauthorized transactions.
  • Don’t share sensitive login details with third-party apps unless they’re verified and secure.

Being proactive about online banking safety helps you enjoy the benefits of AI without compromising your personal information.

Final Thoughts: AI is the Modern Money-Saving Assistant

The rise of AI in personal finance is making it easier than ever for everyday people to save money, budget wisely, and reach their financial goals. Whether it’s canceling unused subscriptions, setting up automatic savings, or getting real-time insights into your spending habits, AI is like having a financial coach in your pocket.

The key is to use these tools intentionally and securely. With a combination of technology and thoughtful decision-making, you're on your way to a more confident and financially secure future.

Ready to make your first move? Visit United Bank’s recurring savings options and begin building your financial foundation today.

*United Bank does not endorse or partner with any AI apps or tools mentioned in this article. Please consult with your financial advisor or a United Bank representative before connecting third-party apps to your financial accounts.