ChatGPT served as a woman’s financial advisor and helped her tackle her massive debt. Jennifer Allan, a realtor and content creator living in Delaware, revealed she asked ChatGPT, a generative artificial intelligence chatbot, to help pay off her $23,000 debt in credit card debt.
For a month, ChatGPT provided daily challenges and suggestions to help Allan identify areas for savings and generate additional income.
Allan told Newsweek she has “struggled with money my whole adult life.” “Not because I don’t make enough, but because I was never taught financial literacy. I avoided budgeting and I figured if I just kept working harder, I could out-earn the problem. That worked… until it didn’t.”
READ: OpenAI to integrate Shopify with ChatGPT for shopping (April 22, 2025)
By learning from vast amounts of text data, ChatGPT continually improves its ability to produce coherent and relevant responses. Despite its capabilities, it doesn’t possess true understanding or consciousness but rather predicts the most probable text based on patterns in the data it was trained on. This makes ChatGPT a powerful tool for enhancing communication and productivity while highlighting the potential and limitations of artificial intelligence in language processing.
She said that after the birth of her daughter, she shut down emotionally, and used credit cards to keep their life afloat. They weren’t living lavishly. They were just surviving. But the debt piled up while she wasn’t looking.
The chatbot came to the rescue as it helped identify areas to cut back on unnecessary expenses, such as cancelling unused subscriptions and selling unwanted items. It also suggested ways to generate extra income, like selling items on Facebook Marketplace.
“It wasn’t some big financial hack,” Allan told Newsweek. “It was the act of facing it every day-of tracking it, talking about it, looking at it every day. I stopped being afraid of my numbers. I built a debt tracker.
“I started sharing my journey publicly. And for the first time in my life, I didn’t feel ashamed. I felt empowered, like I could conquer anything.”
In the future, ChatGPT and similar AI could become trusted assistants for everyday money decisions, helping users save, invest, and manage expenses more effectively. However, while AI can offer guidance, it’s important to remember it’s not a certified financial advisor and users should double-check advice. Overall, this points to a growing role for AI in improving financial literacy and decision-making.
Despite its potential, using ChatGPT as a financial advisor comes with important downsides. First, ChatGPT is not a licensed financial professional, so its advice may lack the depth, personalization, and legal responsibility that human advisors provide. It also doesn’t have access to your full financial picture, which can lead to generic or incomplete suggestions.
Errors or outdated information can result in poor decisions if users rely too heavily on AI without doing their own research. Privacy is another concern, sharing sensitive financial data with AI poses security risks if not properly managed. Ultimately, ChatGPT should be used as a supportive tool, not a replacement for expert financial guidance.