A robot tried to help me with my finances: Here’s how it did.

1. “What is the best way to save money?”

Is there a secret way to save money that ChatGPT knows about that will unlock wealth? Turns out, not really.

The advice was sound, but nothing groundbreaking. ChatGPT responded with:

• “The best way to save money comes down to one simple idea: make it automatic and make it invisible.”

The AI then provided me with six general “steps” to save money. The steps included things like “pay yourself first,” which means transferring money to your savings account before paying any bills, automating savings, opening a high-yield savings account, and creating a budget.

All of this is sound advice, but it’s also very general. If you were to ask ChatGPT the best way to save money, you’ll likely have to give the AI some information about your finances and situation to really get a good and grounded answer.

Overall answer rating: B-

Solid general advice, but nothing groundbreaking.

2. “How do I save money living paycheck to paycheck?”

I wanted to get a bit more granular, and ChatGPT offered some decent advice for this question, in my opinion:

• “Saving money while living paycheck to paycheck can feel impossible — but small, consistent changes really do add up. The key is to focus on micro wins, automate what you can and cut what doesn’t hurt.”

The phrase “micro wins” wasn’t one that ChatGPT likely came up with on its own, but regardless, it’s a good mindset. The AI also suggested tracking every single dollar in and out, cutting out small expenses you can live without, negotiating insurance costs and starting a small emergency fund goal to avoid relying on credit cards if something comes up.

Overall answer rating: A-

Solid answers with actionable plans.

3. “What is the best bank account out there?”

A question that has plagued me for eons, ChatGPT gave me a few options with this opening:

• “There’s no one-size-fits-all “best” bank account — it depends on what you need. But if we’re talking best overall value, a few standouts consistently offer a strong combo of high interest, low fees and great tech.”

The AI first said that SoFi Checking & Savings is a great choice for a high-yield savings account, saying that the account earns up to 4.60% APY with direct deposit. Unfortunately, this is incorrect. The SoFi savings account only offers up to 3.80% APY as of June 2025, so that rate is out of date. However, SoFi is still a decent option.

The chatbot then recommended the Fidelity Cash Management Account, but failed to mention that you need to be a Fidelity customer (since it’s a brokerage account). It also suggested the Discover Cashback Debit account since it has 1% cash back on debit card purchases, which is true, and a top pick I often recommend.

Overall answer rating: B-

Some inaccurate information, but it gave a variety of reputable options to compare.

4. “What is the best budget method?”

Is there a budgeting method that has been proven to be the best? Of course not, but here’s what the bot said:

• “The best budgeting method is the one you’ll actually stick to — but if you’re looking for the most effective and beginner-friendly option, the 50/30/20 rule is a great place to start.”

The 50/30/20 rule is an old-fashioned way to budget, and it stipulates that you spend 50% of your income on expenses, 30% on wants, and 20% on savings. But with the cost of living right now, most of us don’t get to choose how much of our income goes toward living expenses. And the living expenses category includes a lot: rent or mortgage, vehicle expenses, insurance, utilities, loan payments, groceries and so on.

If you want to use the 50/30/20 rule to organize your finances, there’s a good chance you’ll have to adjust those percentages to what you spend on expenses and how much you can save. Other popular methods include the zero-dollar method (every dollar has a purpose) and the envelope method (placing cash in envelopes for designated expenses or separating money into separate bank accounts).

Overall answer rating: C+

A real budgeting method, but it’s antiquated.

5. “How many credit cards should I have?”

Credit card debt is a real problem, and high interest rates aren’t helping. Here’s what ChatGPT has to say about my question:

• “There’s no magic number of credit cards that’s right for everyone — but most people do well with 2 to 3. That gives you enough flexibility to earn rewards, keep your credit utilization low and build a strong credit score, without being overwhelmed.”

It then suggested having a general card for expenses, another for rewards, and then a third store card for a place you shop at frequently. Personally, I’m not a huge fan of store-branded credit cards (they tend to have very high APRs and lean toward predatory), but I am glad to see that it doesn’t recommend more than two or three cards overall.

Overall answer rating: C+

Good recommended amount, but doesn’t mention much about interest charges or the real risk of credit card debt.

6. “How much should I save for retirement?”

I was looking for a dollar answer here and got this typical formula:

• “A common rule is the 25x rule:
  Multiply your expected annual expenses in retirement by 25.
  This gives you a ballpark number based on the idea that you can safely withdraw around 4% of your savings each year.
• For example:
  If you want to live on $60,000/year in retirement:
  $60,000 × 25 = $1.5 million needed by retirement.”

Now, the “25x rule” is a common guideline. However, you’ll have to keep asking the AI questions and feed it information about your finances to get an answer that would even come close to what you’re actually asking. If you’re in your 20s, how would you know your expected annual expenses in retirement? Are you factoring in inflation? Do you already have a retirement plan, or do you have nothing saved and you need full guidance?

There are way too many variables when calculating your retirement, and while ChatGPT can offer some base guidelines and formulas, this conversation is best had with a financial planner in person.

Overall answer rating: D

Too many variables to get a solid answer, and isn’t qualified to give investment advice.