Earn & Invest 633. ChatGPT for the Financial Win (Community Episode)
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May 29, 2025 Joe Salcihai, creator of the Stacking Benjamins podcast and author of 'Stacked,' joins community member Brian Medansky to discuss the role of AI in personal finance. They explore effective ways to use ChatGPT for budgeting, emphasizing caution and verification for beginners. The duo dives into the importance of politeness in AI interactions and discusses the potential job displacement vs. new opportunities in finance. They also address generational attitudes towards AI and the necessity for community dialogue as technology evolves.
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Effective Use of ChatGPT for Budgeting
- Use ChatGPT for budgeting advice that helps organize and prioritize your financial goals.
- Avoid relying on it for the latest tax rules or highly specific financial regulations due to potential errors.
Combine AI with Personal Review
- Set aside weekly time to review and contemplate your budget numbers for better financial awareness.
- Use AI tools to highlight spending patterns but do the reflective work yourself.
Be Specific in AI Prompts
- Be specific in your AI prompts to get the best personal finance advice from ChatGPT.
- Tell AI its role and set boundaries to improve the accuracy and relevance of responses.
