We live in a world of advanced technology, and AI is taking over. From how we chat, shop and travel to how we manage our money, Artificial Intelligence (AI) is everywhere. New AI tools are popping up every day, making life easier and smarter. And when it comes to handling your finances, these financial tools are doing a great job.
Whether you want to track your spending, invest your savings, plan your taxes or improve your credit score, there are now a number of AI tools for finance. These tools are easy to use and provide you with useful suggestions.
In this guide, we will learn how AI in finance works and the top AI tools for finance today.
Why Use AI in Financial Planning?
Now comes the question: Why are so many people using AI finance tools these days? The answer is simple. It is because AI helps you manage your money in a smarter and faster way. Here’s how it does the work:
- Saves your time as you do not need to write down every expense or calculate everything manually. AI tools would do it for you in seconds.
- Get smart advice based on your spending and income.
- With AI tools, you can check your budget or get advice anytime.
- It helps you avoid mistakes, and you would not forget to pay bills or spend more than you planned.
- Most AI tools are easy to use as they are made for everyday users.
Top AI Tools for Budgeting
Budgeting is understanding how much you earn and how much you spend. Though it sounds easy, keeping track of it on a daily basis can be tough. You can use the following AI tools for it:
Cleo: Cleo is a chatbot that feels like talking to a friend. It tracks your spending and even jokes with you when you overspend. It has certainly made budgeting fun!
Mint: Mint is a global budgeting app that works well in India as well. It reviews your transactions and uses AI to categorise your spending, set budget goals and send helpful reminders.
Wally: Wally Finance is your all-in-one budgeting app that supports multiple currencies, making it great for people with both local and international expenses. It uses AI tools to analyse your spending, suggest saving tips, and help you control your finances.
Plum: Plum studies your income and spending habits. Then, it saves small amounts for you automatically without affecting your day-to-day life.
Use these AI finance tools and make your budgeting stress-free. Just link your account, and the AI would handle the rest.
Also Read : Money Saving Tips for Working Professionals
Top AI Tools for Investment Analysis
Investment is one thing that can certainly help your money grow. However, it is not as easy as it looks. That’s why many platforms now use AI for financial analysis to help you invest smartly. The list includes:
Smallcase: In a joint venture with Zerodha, Smallcase offers ready-made portfolios based on themes like healthcare, electric vehicles, or technology. It uses tech and smart strategies to help you invest in what is trending.
JARVIS Invest: Another stock market advisor to reduce your risk, JARVIS is a pure AI finance tool. It uses real-time market data to suggest where you should invest based on your goals.
Top AI-Based Tax Planning Tools
These AI tools for finance would make it less stressful by helping you file your taxes correctly and even save money.
Quicko: Quicko is an Indian tax filing platform and is perfect for salaried individuals, freelancers and even stock traders. It uses AI in finance to read your income details, calculate your taxes and auto-fill forms.
ClearTax: File your return in a jiffy with ClearTax, one of India’s most trusted platforms. ClearTax uses AI for financial analysis and fetches your data in minutes. Based on this data, it smartly suggests the best tax-saving options.
EZTax: Another platform that uses AI in finance to make tax filing easy and stress-free. EZTax checks your income, shows where you can save tax and files your return for you, whether you are a salaried person or run a small business.
Top AI Tools for Credit Score Tracking
Your credit score can affect your ability to get loans, credit cards and more. Hence, it is important to always keep it in check. You can use the following AI finance tools to do so:
OneScore: OneScore is a simple app that shows your credit score and suggests ways and tips to improve it step by step.
Experian Boost: Experian uses AI to study your credit profile and helps you understand how you use your money. Use the tool to improve your credit score instantly.
Wishfin: An official partner of CIBIL, Wishfin is a popular credit tracking tool in India. It gives you free access to your CIBIL score and uses AI to track your credit behaviour, like EMI payments and card usage.
Also Read : How to Check Your Credit ScoreConclusion
These are the top AI tools for finance that are changing the way we manage our money. These tools would help you create a budget, invest smartly, file your taxes and even keep your credit score in check.
Meanwhile, if you need urgent cash requirements for your emergencies, worry not! CASHe offers instant personal loans of up to ₹3 lakh at competitive interest rates. All you need to do is download the CASHe app and apply to get your loan approved in minutes. With the help of the app, you can also track your credit and payments and manage your money better.
