A month ago, I did something both reckless and oddly responsible: I handed over control of my personal finances to ChatGPT. Yes! The chatbot almost everyone is hooked on for coding help and LinkedIn posts. But can it actually manage money? I decided to find out.
The backstory: From budget burnout to bot buddy
Like many urban Indian millennials, my money habits were all over the place. I had a salary, an SIP or two, random Swiggy orders, an unused credit card, and zero idea where my money was actually going.
I’d tried budgeting apps before—some were too complicated, some too Western, and some too judgmental. Then, one evening, while doom-scrolling through a personal finance subreddit, I stumbled on a post: “Has anyone tried using ChatGPT to track or optimise their budget?”
Setting up: Sharing my financial skeleton with the AI
I started by sharing with ChatGPT a clean glance at my financial situation:
- Monthly salary: ₹1,10,000 (after tax)
- Fixed expenses: WiFi, Netflix, bills ( ₹3,500), rent ( ₹25,000)
- Phone EMI for a phone I don’t like anymore: ₹6,700
- SIPs: Two mutual funds for a total of ₹6,000
- Other expenses: Shopping, restaurant delivery, impulsive vacation planning, etc.
Then I asked: “Can you plan and optimise my budget for the next 30 days and help me save more?”
ChatGPT’s response was impressively detailed. It created a custom 50-30-20 model (Needs-Wants-Savings), adjusted for Indian expenses, and added a few surprises:
“You’re spending nearly ₹9,000 a month on food delivery. Can we cut that in half?”
“You’re investing, which is great—but your emergency fund is dangerously low.”
“Why not switch your credit card to one with better cashback or travel points?”
Week 1: The AI budget shock
After following its advice, I moved ₹15,000 to a separate “emergency” account, created a Google Sheet (using its formula suggestions), and tracked every spend manually with categories ChatGPT gave me.
It felt weird. Like having a money therapist constantly whispering, “Do you really need that third iced Americano?”
I started cooking more, used UPI offers ChatGPT reminded me about, and even paused that unused OTT subscription it spotted from my credit card bill.
Week 2: The resistance phase
The mid-month blues hit hard. Friends planned a Goa trip. I caved and asked ChatGPT: “Can I go without destroying my budget?”
It replied: “If you reduce your weekend spending by 50% for the next two weeks, and move ₹3,000 from your Wants to Experiences, you can go.”
The AI was strict—but not unrealistic. It even recommended a cheaper Airbnb in Anjuna.
Week 3: Automation magic
ChatGPT helped me create reminders and draft auto-instructions for my banking app. Based on its suggestion, I adjusted the SIP dates. I put electricity and broadband bills on auto-pay and even created a daily expense tracker with graphs in Google Sheets. I even used it to draft a message to my insurance agent about term policy options. No jargon, no guilt.
Week 4: The realisation
By the end of the month, here’s what changed. First, I could save ₹12,500 more than I usually do. Then, following its advice, I cut my food delivery spend by 60 per cent. I found a better cashback credit card (yes, it even compared them). Also, I started building my emergency fund consciously. Finally, I could sleep better knowing that I wasn’t flying blind with my money. And that Goa trip? Worth it. No guilt, because it was all within my financial plan.
So, can ChatGPT replace a financial advisor?
Not exactly. While it better explained the new tax regime than my CA ever did, it cannot predict market losses or replace in-depth knowledge of tax law.
However, it was like having a financially aware older sibling who was not judging me based on my everyday financial decisions, monitoring my spending, recommending habits and motivating me.
Should you let ChatGPT manage your money for a month?
Of course. Especially if you’re tired of being clueless about money. It has nothing to do with perfection. It has everything to do with awareness, discipline, and small wins. This is where the AI can chip in.
