With AI having its big moment in the spotlight these days, you may be wondering how you can use it to optimize your financial life. We took a look at personal finance apps that use AI to serve different purposes — and found the best to help you invest, budget, manage subscriptions and even save on travel.
Some of the products we chose use AI to learn your spending habits and organize your transactions for you. Others use AI algorithms to study your data and suggest actions that can help you reach certain goals. (Read more on our methodology below).
Explore checking and savings options built to help your money go further.
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
Best AI-powered apps to manage and grow your money
Best for investing
Betterment
-
Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. For example, Betterment doesn’t require clients to maintain a minimum investment account balance, but there is a ACH deposit minimum of $10. Premium Investing requires a $100,000 minimum balance.
-
Fees
Fees may vary depending on the investment vehicle selected, account balances, etc. Click here for details.
-
Investment vehicles
-
Investment options
Stocks, bonds, ETFs and cash
-
Educational resources
Betterment offers retirement and other education materials
Terms apply. Does not apply to crypto asset portfolios.
Pros
- No trade or transfer fees
- Good for automated investing
- Customizes users’ portfolios around their financial goals, timeline and risk tolerance
- Users can assign specific investing goals (short- and long-term) to each portfolio and invest using different strategies (less and more risk)
- Quick and easy to set up account
- Able to sync external retirement accounts to your Betterment retirement goal so all your accounts are in one place. Premium plan users get unlimited access to a financial advisor (otherwise, one-time advisor consultations cost a fee ranging from $299 to $399)
- Advanced features include automatic rebalancing, tax-saving strategies and socially responsible investing
Cons
- Base price for investing accounts is $4/month – recurring monthly deposits totaling $250, or total Betterment account balances reaching $20,000, automatically switch you to an annual price of .25% of your investing account balances
- Premium plan requires $100,000 minimum balance
Who’s this for? CNBC Select actually ranked Betterment as one of the best robo-advisors for beginners thanks to the platform’s AI algorithms that automatically adjust to rebalance your portfolios as your needs and goals change. The platform also offers features like tax loss harvesting to help you save on taxes. This is where the platform automatically sells any positions experiencing a loss to help offset your tax burden.
Standout benefits: Betterment doesn’t have a minimum balance requirement, and the annual account fee is a low 0.25% of your fund balance for balances between $20,000 and $1 million, or $4 per month if your balance is $0 to $20,000.
Best for budgeting
You Need a Budget (YNAB)
-
Cost
34-day free trial then $109 per year ($9.08 per month) or $14.99 per month (college students who provide proof of enrollment get 12 months free)
-
Standout features
Instead of using traditional budgeting buckets, users allocate every dollar they earn to something (known as the “zero-based budgeting system” where no dollar is unaccounted for). Every dollar is assigned a “job,” whether it’s to go toward bills, savings, investments, etc.
-
Categorizes your expenses
-
Links to accounts
Yes, bank and credit cards
-
Availability
Offered in both the App Store (for iOS) and on Google Play (for Android)
-
Security features
Encrypted data, accredited data centers, third-party audits and more
Pros
- Offers a 34-day free trial, and college students get 12 months free
- Designed to help you get out of debt
- YNAB website claims average user saves $600 in their first two months and $6,000 in their first year
- Syncs to your bank accounts and credit cards
- Users can set goals, customize spending categories
- Offers educational resources, such as budgeting advice and free, live workshops
- Personal customer support
- Security features include encrypted data, accredited data centers, third-party audits and more
Cons
- Costs $109 per year or $14.99 per month
- Customer reviews note that it takes longer to set up than other apps
Who’s this for? YNAB is famous for being a platform that promotes the zero-based budgeting method, which is where you assign every dollar a job so that you end up thoughtfully using all of your income instead of just guessing where your money goes. The platform uses machine learning to read your spending patterns and automatically categorize transactions, but it also helps you identify areas where you may need to make changes to reach your goals.
Standout benefits: YNAB offers resources for users who want to learn more about improving their financial lives, like live workshops, podcasts, guides and blog posts.
Best for managing subscriptions
Rocket Money
-
Cost
The basic plan is free. Rocket Money Premium is $6 to $12 a month with a 7-day free trial. Bill negotiation services cost 35% to 60% of the savings earned
-
Standout features
Easily cancel unwanted subscriptions, track your spending and credit score, automate savings and get help lowering bills. Rocket Money Premium includes additional services like bill negotiation, net-worth tracking, credit reports and a subscription cancellation concierge service
-
Security
Rocket Money accesses transaction data via an encrypted token, uses Plaid API so user credentials are never stored, provides bank-level 256-bit encryption and hosts servers on Amazon Web Services
-
Availability
Offered online and on both the App Store (for iOS) and on Google Play (for Android)
Pros
- Rocket Money claims 80% of users save money by cancelling unwanted subscriptions
- Bill negotiation services are available
- Provides VantageScore 3.0 credit score and Experian credit report
- Interest-free pay advance available up to $100 to qualifying users
- A+ from Better Business Bureau
Cons
- Nonrefundable bill negotiation fee can be up to 60% of savings
- Does not negotiate internet, landline or cable/phone/internet bundles, electricity bills, security systems or satellite radio/TV bills
Who’s this for? Rocket Money uses machine learning to identify recurring transactions and subscriptions to help you consider whether or not you’d like to cancel them. The platform can cancel some subscriptions on your behalf automatically, but for some subscriptions and memberships, you may need to do it manually in the platform. Still, the simple act of helping you locate all your subscriptions can go a long way in helping you get your finances on the right track.
Standout benefits: The platform offers features that go beyond just subscription tracking and cancellation. Users can take advantage of credit score tracking, a concierge service to negotiate lower rates on their bills and even a budgeting tool that tracks spending and net worth over time.
Best for travel savings
Hopper
-
Cost
-
Standout features
Automatically track the pricing of desired flights, receive notifications about potential price increases and decreases, book flights and hotels through the platform, receive offers and discounts on your travel.
-
Availability
Offered online and on both the App Store (for iOS) and on Google Play (for Android)
Pros
- Free to use
- Helps users find flight and hotel deals
- Users can track flight prices and predict the ideal time to purchase flights
- Price freeze feature lets users “hold” a flight at the current price while they decide if they really want to make the purchase
Cons
- Booking through a third-party platform, which means some flight and hotel protections may not be available like they would be if you had booked directly with the airline or hotel
Who’s this for? Hopper uses machine learning to help you save on flight and hotel bookings by predicting when flights will be more or less expensive. Users can get notified of price increases and decreases and they can “freeze” flights at their current price while they decide whether they still want to make that purchase. The platform also offers flash deals on vacations. Because Hopper is a third-party app that you’re booking through, your airline may charge additional fees for things like seat selection, in-flight meals, cancellations, itinerary changes and additional baggage. These fees are not included in the total price you pay on Hopper.
Standout benefits: The platform is free, however, there is an option for you to add a tip, which helps support Hopper’s features.
FAQs
Can I use AI to invest money?
Yes, you can use AI to invest money. In fact, many investment platforms already use AI and machine learning to help users make smart investments that are aligned with their goals.
How can you use AI to manage your money?
AI can be used in many ways to manage your money, including categorizing daily expenses, suggesting recommendations based on your goals and even making future projections about your money.
Subscribe to the CNBC Select Newsletter!
Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here.
Why trust CNBC Select?
Our methodology
To determine the best AI-powered apps, CNBC Select analyzed over a dozen services. We narrowed down our rankings and categorized them by best for investing, best for budgeting, best for managing subscriptions and best for travel savings.
We considered factors like:
- Pricing
- Features
- Use of AI
- Resources/guidance/educational materials offered
- Ease of use
- Customer reviews where applicable
Catch up on CNBC Select’s in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
