Dear subscribers,
Today, I want to share a new episode with Ethan.
Ethan is the product lead for ChatGPT Finances at OpenAI and he previously co-founded Digit, which helped more than 10 million people save over $9 billion. In our interview, he shared 6 practical ways to use ChatGPT to find wasted spending, prep for taxes, maximize credit card rewards, and model major financial decisions. I’m confident at least one of these use cases will save you money today.
Ethan and I talked about:
▶(00:00) ChatGPT Finances can save you money right now
▶(03:37) Use case 1: Cancel recurring subscriptions
▶(09:37) How ChatGPT protects your financial data
▶(18:03) Use case 2: Find tax savings proactively
▶(24:58) Use case 3: Cut ETF and mutual fund fees
▶(26:20) Use case 4: Maximize credit card rewards
▶(28:20) Use case 5: Model income and taking time off
▶(31:05) Use case 6: Decide whether to rent or buy
▶(34:00) How to set up recurring finance checks
▶(36:58) Shipping 47 product updates in one week
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6 ways to use ChatGPT Finance to save money now
Negotiate or cancel recurring subscriptions. Use this prompt to ask ChatGPT to review your recent subscriptions and suggest ways to help you negotiate or cancel them:
Review the last 90 days for subscriptions worth reviewing, price increases, possible duplicate charges, refundable fees, and unusually expensive household bills.
Find tax savings proactively. After you connect your bank and investment accounts to ChatGPT, you can ask it to proactively audit and optimize your taxes. Personally, it has been a massive timer saver for me in my conversations with my accountant. Start with this prompt:
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