How to Money Friday Flight - Awful AI Advice, Booming BNPL, & Frittering on Fitness #933
Jan 17, 2025
In this enlightening discussion, the hosts tackle the perils of AI financial advice, warning listeners against its potential pitfalls. They explore the rise of Buy Now, Pay Later services and the debt spiral they can create. The conversation also covers emotional spending and the risks of online gambling. Highlighting the importance of credible charities amidst donation scams, they offer insights into managing personal finances and maximizing cashback opportunities. Expect a blend of optimism about future financial trends alongside caution about risky behaviors!
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Transcript
Episode notes
Wildfire Charity Donations
- Donate to vetted charities after the LA wildfires using Charity Navigator.
- Be aware of GoFundMe's high suggested tip amounts, which can significantly reduce your actual donation.
AI Financial Advice Apps
- Be wary of free AI financial advisor apps like Clio and Bright.
- They may offer unhelpful advice or push unnecessary financial products to profit.
BNPL Holiday Spending
- Buy Now, Pay Later (BNPL) use increased over the holiday season, adding to consumer debt.
- This can create financial instability and hinder long-term financial health.