I tried Chat GPT's new finance feature — and it opened a new window into how I spend my money | Tech Radar

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I tried Chat GPT's new finance feature — and it opened a new window into how I spend my money

Chat GPT can now nag you, brief you, and monitor things — here’s how to use it without making your life worse

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Chat GPT's new finance feature lets the AI chatbot take a look at any bank or similar accounts you care to open up for inspection. I was initially hesitant to try it out, but the tool only looks at the details of how you spend your money, and can't actually carry out transactions, so I agreed to let it analyze some of my accounts and offer its insights.

At its suggestion, I asked Chat GPT, "How much did I spend eating out this year?" Chat GPT soon had a breakdown of my how much I had spent at various restaurants, including delivery, and broke down some of the patterns. It pointed out that it had gone up recently, which makes sense as the weather has became pleasant enough to walk into town more often to eat. It also identified a few spikes I could tell were around birthdays and family celebrations.

Next I asked, "What subscriptions am I paying for?"

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That turned into one of the most practical moments of the experiment. Chat GPT gathered recurring charges across streaming services, software, and other monthly payments into one clear summary instead of leaving me hunting through statements. It also suggested reviewing whether every subscription still deserved a place in my budget.

"These subscriptions appear consistently each month, making them reliable recurring expenses.", it told me.

Seeking a more detailed analysis, I asked Chat GPT, "What's changed in my spending this month?"

Instead of overwhelming me with every purchase, Chat GPT focused on the transactions that genuinely stood out. It noted a few large purchases at new locations, and asked if they were something I wanted more information on. I told it those were gifts, and the AI incorporated that fact into its response as not a new regular event but one that explained why overall spending had climbed this month.

"Those gift purchases are unusual compared with your recent history but they account for much of the increase, so your everyday spending has remained relatively consistent despite the higher overall total. Looking beyond one unusual month provides a more accurate picture of your longer term financial habits."

Using Chat GPT this way felt almost like the inverse of most financial software. Most budgeting apps expect you to learn their system first. Chat GPT let me ask questions however they occurred to me and then translated months of transactions into answers that were easy to understand.

That does not mean it replaces dedicated budgeting tools, and it certainly cannot make smarter financial decisions on your behalf. You still have to decide whether to cancel subscriptions, spend less on eating out, or save more each month. But I can see how it might make it easier for people who hesitate to look at their finances if they feel uncomfortable around spreadsheets. It didn't feel like math homework the way it often does.

Of course, it still relies on some trust in both Open AI and Plaid, but as long as it's purely viewing and not actually touching the accounts, this could be a really useful, practical feature for Chat GPT users.

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Eric Hal Schwartz is a freelance writer for Tech Radar with more than 15 years of experience covering the intersection of the world and technology. For the last five years, he served as head writer for Voicebot.ai and was on the leading edge of reporting on generative AI and large language models. He's since become an expert on the products of generative AI models, such as Open AI’s Chat GPT, Anthropic’s Claude, Google Gemini, and every other synthetic media tool. His experience runs the gamut of media, including print, digital, broadcast, and live events. Now, he's continuing to tell the stories people want and need to hear about the rapidly evolving AI space and its impact on their lives. Eric is based in New York City.

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Get full access to premium articles, exclusive features and a growing list of member rewards