- The Money Minute
- The Three Best AI Apps for Your Finances
The Three Best AI Apps for Your Finances
AI is bringing new money-making opportunities right to your doorstep. Let's open the door, shall we?
As a financial pro, I am personally stoked about all of the new money-making opportunities AI is delivering to our doorsteps. Here are my three favorite AI-powered apps that will improve your financial life:
Make your days more productive with Motion.
Motion is like a calendar app on steroids. It claims to increase productivity by 137%, and I agree. It bills itself as a calendar app because the AI technology manages your calendar, but it’s not just helping you find empty slots in your day to book meetings. Motion actually helps you find time in your day to do your work. This is a recurring problem I have. Between meetings and interviews and podcast recordings, I have days where I’m in back-to-back meetings for a full work day and then I wrap my last meeting and I have a backlog of unanswered emails and deadlines.
Motion helps me make sure I hold time in my calendar for things like writing this newsletter and taping my pod— things that might get bumped for meetings. And if something unexpected happens that throws off your calendar, like you get COVID (it’s me, hi, this just happened to me) Motion will automatically rearrange your calendar.
Automate your payroll with Booke.
Small biz owners, here’s one for you. Booke is an AI program that helps you automate everything invoice-related that eats up your time. Booke helps you communicate with customers, spot invoicing errors, and keep your records super organized so that tax season is as easy as tax season can be. And, you can integrate Booke with your bookkeeping software on Quickbooks and Xero, so you don’t have to start from scratch with a whole new app - which, as a busy biz owner, is music to my ears.
Meet your financial goals with Magnifi.
Magnifi is an AI-powered investing assistant. It’s like ChatGPT, but specifically programmed to answer your finance questions, and make personalized plans to help you meet your money goals. I’m going to go a little deeper on Magnifi than with with Booke or Motion because Magnifi is specifically a tool for money. And while productivity and invoices are cool, I think we can all agree, money is cooler.
So, here’s how Magnifi works: once you subscribe, you can open the app on your computer or phone and chat with the AI investing assistant. In the app, you can tell Magnifi about your goals, and Magnifi will create a personalized plan to help you meet those goals. So, you can say “Hey Magnifi, I want to buy a $500,000 house in two years, create an investing strategy that helps me build the downpayment.” Or, “Magnifi - all this natural disaster stuff is scaring me, help me put together a portfolio that generates six months of my salary as an emergency fund.”
But my favorite feature in Magnifi is the retirement resources. You can hit up Magnifi and say “I want to retire with 1 million dollars. Make me a portfolio that puts me on-track for that goal.” And then from there, Magnifi helps with three things that are super important: 1) Magnifi crunches the numbers for you to determine how likely you are to reach your retirement goals, 2) If you are not on track to meet your financial goals for retirement, Magnifi will give you recommendations on how to boost your chances— like, retiring later, or contributing more aggressively to your retirement accounts. And 3) Magnifi creates a custom recommended investing portfolio based on your goals.
This triple threat is super important. Over 55% of Americans say they feel like they’re behind on retirement. But with Magnifi, you can actually know if you’re behind on retirement. And not only that, but you get a customized plan to help catch up, delivered to you right on your phone or computer.
I am a Magnifi partner, which means that I have an “in” and you better believe I got Money Minute readers the best deal possible. So my readers can get Magnifi for only $9 a month (check it out here).