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From “How do I start a business?” to “What’s wrong with my house plant?” ChatGPT has become a valuable resource for getting answers to just about everything. But what about your finances?

While ChatGPT is no replacement for expert advice from a real person, it can be a great starting place if you need general guidance or help performing tedious tasks — like building a budget .

Creating a budget from scratch can involve a fair amount of work. So, if you’ve been putting off budgeting, consider turning to ChatGPT for some help getting started.

5 helpful budgeting prompts for ChatGPT

If you’re unsure where to start, we put together a list of budgeting prompts you can ask ChatGPT to help you craft the perfect budget for your finances and lifestyle.

Budgeting prompt 1: What kind of budgeting strategy is best for me?

Before you get into the nitty-gritty of putting together a budget, it’s important to identify what type of budget would work best for you. There are a variety of strategies you can follow when building your budget, such as the 50/20/30 budget , zero-based budget , the envelope method , or a more customized approach that’s tailored to your precise needs.

To help ChatGPT narrow down the best budgeting style for you, it’s important to share some additional details, such as your income, spending habits, savings goals, and whether you prefer to be more involved or hands-off when it comes to budgeting.

For example, you could write: “I earn about $80,000 per year through a regular salary, annual bonus, and freelance work. My goal is to keep my debts low, save for a home down payment, and build up a larger investment portfolio. I prefer a budget that is easy to manage and isn’t overly complex.”

ChatGPT will take all of these personal factors into account and provide actionable tips for building a budget that you‘ll stick to.

Budgeting prompt 2: Help me create a budget that prioritizes paying off my debt in X amount of time

If you have a key financial goal, such as paying off your debt, ask ChatGPT to develop a budget that prioritizes accomplishing that goal within your desired time frame.

For example, I asked ChatGPT to create a budget that would allow me to pay off a $2,000 student loan balance within one year.

ChatGPT responded by breaking that balance down into monthly payments, then suggesting how to cut back on discretionary spending so a larger monthly debt payment fits in with my other expenses. It then offered a sample budget breakdown and tips for maintaining that budget.

Budgeting prompt 3: Build a custom budget template for me

Building a budget from scratch can be challenging, especially if you have a long list of budget categories and recurring expenses. ChatGPT can create a customized template for you to export into Excel, Google Sheets, or any other format you prefer and update as you see fit.

To get started, provide ChatGPT with the following details:

Once you provide this information, ChatGPT will devise a custom budget template. You can follow up with additional questions or details to further tailor the template until it meets your needs.

Read more: How to create a budget in Excel (with free templates)

Budgeting prompt 4: Can you give me personalized insights and advice on my spending habits?

It’s important to regularly review your spending habits and see how they’re impacting your overall budget. However, it can be tough to take a step back and view your spending in an entirely objective way. This is where ChatGPT comes in handy.

After your initial request for spending insights, ChatGPT will follow up with a few clarifying questions. Again, you’ll need to provide details about your income, estimated monthly expenses , goals, and financial challenges.

Once ChatGPT has this additional context, it will provide judgment-free advice on where you may be overspending, how to cut back in certain areas, and how to optimize your budget so that it aligns with your financial goals.

Budgeting prompt 5: Provide step-by-step instructions on how to save for X

ChatGPT is also a helpful tool for breaking down savings goals into manageable steps that fit into your budget so you can reach your goal within your desired time frame.

For example, say you want to purchase a home, but aren’t sure how to balance saving for a down payment with your other financial obligations.

I asked ChatGPT to give me step-by-step instructions on saving for a down payment and incorporating that goal into my monthly budget. It offered detailed advice on setting a target savings amount and timeline, analyzing my current budget to determine what I could reasonably afford, recommending the right type of deposit account for my savings, and tracking my progress. And it even provided a sample budget to follow.

Best practices for using AI to improve your personal finances

If you aren’t well-versed in using ChatGPT or other AI tools to help manage your money , there are a few best practices you can follow to ensure you get the most helpful responses.

First, be specific when asking questions. Include as many details as possible, even if they are just rough estimates. The more comprehensive data you can provide ChatGPT, the better it can tailor its suggestions.

However, you should never share sensitive information, including your Social Security number, account numbers, passwords, or other personally identifiable information. Although ChatGPT is generally safe to use, there’s no guarantee your information will be kept private. So, avoid sharing any personal information that you wouldn’t feel comfortable sharing with others.

Also, keep in mind that ChatGPT is a helpful tool, but it should be treated as just that — a tool. It isn’t foolproof or a replacement for licensed financial professionals who may be able to give you more nuanced, expert advice.

Read more: I asked ChatGPT for financial advice. Here's what happened.