AI can help save you money from fuel costs to the price of your broadband, experts have claimed. But they warned to “watch out for hallucinations” and advised people to not put their personal details into free chatbots.
AI is increasingly being used as a way to help you save money in the new inflationary climate we find ourselves in after the Middle East conflict led to oil prices rocketing.
Experts have shared their prompts and AI-powered hacks and tools that can identify ways for people to save money when the cost of everything is soaring.
Though they warned that AI is only as reliable as the data provided and does not replace regulated financial advice.
Katrina Young, AI & Digital Transformation Strategist at KYC Digital, said you can use AI to save money on your mortgage.
She added: “Most people use AI to find cheaper deals or cancel subscriptions. That works, but the real savings come from improving the decisions that affect long-term financial commitments like mortgages.
“A structured, anonymised ‘master prompt’ can help model this without exposing personal data: ‘I’m planning to buy a home in the next 1–3 years in a mid-priced UK area. My estimated credit profile is fair to good. I want to improve affordability, reduce monthly costs, and secure a competitive mortgage rate. My long-term goals include starting a family and managing household expenses sustainably. Based on current UK mortgage trends, inflation, and typical utility costs, what actions should I take now?’
“This allows AI to identify where small changes, such as reducing outgoings or improving credit behaviour, could lower borrowing costs significantly over time. But AI is only as reliable as the data provided and does not replace regulated financial advice.”
Watch out for hallucinations
Dil Gujral, Chief AI Trainer at AI Now Academy, said you can turn AI into your favourite money coach.
He added: “Find the YouTube Channel you think resonates with your circumstances. Use Gemini, enter the channel name into this prompt and bingo. Gemini now acts like the YouTube channel coach: ‘Find videos by @[Channel Name] and review all transcripts. Based strictly on those transcripts, help answer my questions according to what [Channel Name] might say. First, summarise their key principles.’
“Please ensure you do not put your financial data and personal information into AI chatbots, they will end up on the internet. You have been warned. Do not upload your budgeting spreadsheets.
“Use your chatbot to learn the principles of good financial management. AI has a reputation for being a great coach but users need to understand what they are using. The answers may look correct but watch out for hallucinations, as this where the AI generates the answers. Check, check and check again.”
Mitali Deypurkaystha, Human-First AI Strategist & Author at Newcastle upon Tyne-based Impact Icon AI, said AI can be used to help on your fuel costs.
She added: “Businesses use AI to dynamically suggest fuel pricing for petrol stations by analysing historical transaction data and consumer behaviour patterns, ensuring they milk the most money from you.
“However, motorists can fight back by using AI themselves. Google Maps’ AI-driven eco-friendly routing enables drivers to reach destinations via paths that reduce fuel consumption. It balances real-time traffic, road conditions, elevation changes, speed consistency and regional driving patterns.
“Switch it on in your app settings and set your engine type, petrol, diesel, hybrid or electric, so the route recommendations are tailored to how your car actually uses fuel. In a war-fuelled price surge, the smartest saving isn’t hunting for cheaper petrol. It’s using AI to use less of it.”
Treat it like a ruthless personal finance assistant
Rohit Parmar-Mistry, Founder at Burton-on-Trent-based Pattrn Data, advised against sharing personal details with the free version of AI.
He added: “AI can help you save money, but only if you treat it like a ruthless personal finance assistant, not a magic money machine. Start with the boring wins: get it to categorise three months of spending, flag price rises and produce a monthly ‘cancel or downgrade’ list. Use it to draft call or live chat scripts for broadband, mobile and insurance renewals – you do the talking, it does the prep.
“For bills, have it create a checklist for tariff comparisons, exit fees and how to time a switch so you do not get stung. Important: no free tools if you are sharing bank statements, linking accounts or entering sensitive personal data. It can also run simple scenarios: overpay the mortgage versus building an emergency fund, or whether a subscription is worth it in hours used.
“Where it shines is decision discipline: a one page ‘spending rules’ doc, plus a weekly prompt to spot impulse purchases and suggest cheaper substitutes. The key question stays the same: can you explain the recommendation.”
Colette Mason, Author & AI Consultant at London-based Clever Clogs AI, said you can use AI to help you save money on your broadband.
She added: “Let AI draft awkward conversations. Calling your broadband provider to negotiate is uncomfortable for most people, but AI removes the hassle. Tell it: ‘I’ve been a [provider] customer for [X] years, my quote is [£X], and I’ve found a comparable deal for [£Y]. Write me a short script to call and ask for a better deal being firm but polite.’
“It won’t guarantee a yes, but having the script means people feel about to take control. Many report meaningful savings on recurring bills through exactly this kind of confidence boost. The tool doesn’t save you money. It gives you the nerve to do it yourself. You can also rehearse by role-playing the call with your AI before you pick up the phone.
“One caveat worth knowing: the UK’s Competition and Markets Authority has warned that AI shopping agents could steer consumers toward pricier or less suitable options, not because the tech is broken, but because the agent may be optimised for platform revenue, not finding genuine deals.”
AI is only as reliable as the data provided
Nouran Moustafa, Practice Principal & IFA at Roxton Wealth, said AI can be used to review your spending.
She added: “AI can save people money, but only if they use it for the boring stuff that usually gets ignored. The best use is to make AI go through your bills, subscriptions, insurance documents and bank statements and tell you where money is leaking.
“It is brilliant for spotting duplicate spending, checking if your broadband or mobile contract has drifted onto a bad rate, drafting switch emails, and comparing deals in plain English.
“Good prompts are things like: ‘Review these three months of spending and show me my easiest monthly savings’, or ‘Read this insurance renewal and tell me what has gone up and what I should challenge’, or ‘Compare these mortgage deals including fees, not just the rate’. For me, the real win is not using AI to be clever. It is using AI to stop being overcharged through admin, inertia and complexity. That is where people quietly lose the most money.”
