{"id":67605,"date":"2025-04-07T01:32:00","date_gmt":"2025-04-06T17:32:00","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=67605"},"modified":"2025-04-07T19:38:54","modified_gmt":"2025-04-07T11:38:54","slug":"ai-budgeting-guide","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/ai-budgeting-guide","title":{"rendered":"I Used AI To Budget My Monthly Salary: Here’s The Breakdown"},"content":{"rendered":"

Budgeting<\/a>. Some love it, most hate it. It’s just one of those really stressful things in life that every adult has to go through to avoid getting stressed over finances. Figuring out how to stretch your salary across rent, bills, food, and maybe (just maybe) a little fun without running dry mid month. Stressing to avoid stress? The math isn\u2019t math-ing.<\/p>\n

Maybe this is why the idea of being able to outsource this task to an AI assistant is just that appealing. That said, would AI actually be able to help you budget and spend better? Or will it just confirm that you\u2019re doomed to survive solely on instant noodles?<\/p>\n

<\/span>Can I let AI manage my salary?<\/span><\/h2>\n

Armed with curiosity (and a slightly concerning tendency to overspend on impulse buys), I decided to put AI to the test. Could AI tools actually help manage my salary, better than I do myself? Here\u2019s how it went.<\/p>\n

Step 1: Choosing the right platform<\/h4>\n

If you go on the app store and put in \u201cbudgeting tool\u201d<\/a>, you will be hit with a tsunami of financial apps, all promising to transform your money habits. Some are free, many require a paid subscription and others entice you with a free trial only to lock any real feature behind a paywall.<\/p>\n

With so many options, I wanted to pick something that was straightforward, accessible and most importantly, free! That\u2019s when I realised, there is an AI tool that we all already have at the tips of our fingers: ChatGPT! It is a platform we are all familiar with and there is no need for downloads, subscriptions or sneaky in-app purchases.<\/p>\n

So, instead of committing to yet another app I would undoubtedly forget in a week, I decided to let ChatGPT take the wheel on my finances. The question was, could it come up with a budget that actually makes sense?<\/p>\n

Step 2: Generating the perfect prompt<\/h4>\n

Like any AI tool, ChatGPT is only as good as the instructions you give it. A vague prompt like \u201chelp me budget my salary\u201d will only get you a generic breakdown that may not reflect your actual needs or lifestyle. To get an accurate and useful plan, you need to be specific \u2014give your AI tool all the right numbers and figures. And most importantly, be honest! If your prompt is based on lies then the result generated will not be of any help.<\/p>\n

Here\u2019s the prompt I used:<\/strong><\/p>\n

\u201cI earn RM3,800 per month, which is the median salary in Kuala Lumpur. I need a realistic budget breakdown based on best practices. My fixed expenses are: rent & utilities (RM850), e-hailing rides (RM450). My variable expenses include: groceries, eating out, entertainment & shopping (RM2200) How much should ideally be allocated for all my expenses?\u201d\u00a0<\/em><\/p>\n

Step 3: Analyse ChatGPT\u2019s budgeting skills (or lack thereof?)<\/h4>\n

Here\u2019s what AI suggested:<\/p>\n

My AI-Generated Monthly Budget<\/div>
<\/p>\n

Since you earn RM3,800<\/strong> per month and your expenses already add up to RM3,500<\/strong> (RM850 for rent & utilities + RM450 for e-hailing + RM2,200 for variable expenses), you only have RM300 left<\/strong>\u2014which might not be sustainable for savings or emergencies.<\/p>\n

A realistic budget<\/strong> based on best practices follows the 50\/30\/20 rule<\/strong> (50% needs, 30% wants, 20% savings & investments). Here’s how you can adjust your spending:<\/p>\n

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  1. \n

    Ideal Budget Breakdown (50\/30\/20 Rule)<\/h4>\n<\/li>\n<\/ol>\n