4 Ways AI Can Help You Save Money on Holiday Celebrations

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According to a recent survey from Blackhawk Network, 50% of those in younger generations and 24% of those in older generations were planning on using artificial intelligence (AI) in some way for holiday gift shopping. With the rise of various AI-powered tools, users are finding innovative ways to utilize the technology to help with personal finance.

With costs of daily expenses increasing over the last few years due to stubborn inflation figures, it’s more important than ever to take advantage of any tools that can help save some money. 

Here are four ways AI can help save money during the holidays. 

Plan Holiday Events

“When planning a holiday party, you can ask it to put together a budget shopping list and look for ways to offer low-cost entertainment,” said Eric Rosenberg, an AI expert and the founder of Freelancer Dashboard. “It could make a holiday-themed cocktail list, low-cost or no-cost games, or what everyone should bring for a holiday-inspired potluck.”

Planning a holiday gathering can be stressful, especially when many people are involved with different dietary restrictions. Those planning a holiday celebration can tap into AI to get assistance so that they’re not scrambling to figure out what recipe works, what kind of entertainment to offer and what to serve in general. They can test out different prompts and experiment with the chatbot until they’re satisfied with the results.

No one wants to be figuring out what to serve guests at the last minute. Having time to prepare will also allow for more time to seek out the best deals.

Find the Best Deals

AI can also be used to save money on shopping this holiday season, whether for gifts or holiday parties. It can help shoppers find the best deals so they don’t overpay for anything. It’s easy for shoppers to go overbudget when they don’t utilize technology to help out with their shopping needs.

“Price comparison tools like Honey are one of the biggest ways we can use AI to help here, as these tools will automatically find the best deals and discounts for almost any website you’re shopping on,” said Erika Kullberg, an attorney, a personal finance expert and the founder of Erika.com. “If you want to make sure you’re not overpaying, and also keep an eye on price drops or sales, definitely make sure to use a price comparison app or browser extension.”

The sooner that shoppers install these AI-powered tools, the better off they’ll be when it comes to finding the best deals. With promo codes and comparison shopping, shoppers can feel confident that they’ll land the best bargains.

Find Gift Alternatives

When shopping for holiday gifts, it’s easy to get carried away browsing through the mall or online merchants. However, when the bill arrives in January, shoppers don’t want to be stressed about covering these expenses because they didn’t set limits. Consider utilizing AI-powered tools to find ways to save money on gift ideas in advance before browsing. 

“You can also use AI to come up with low-cost gift ideas and experiences. You can ask ChatGPT, Claude or other AI tools for alternatives to specific expensive gifts you have in mind,” Rosenberg said.

If someone is feeling stuck on what kind of gift to get someone, they can prompt a chatbot for assistance so that they don’t get overwhelmed. A chatbot will be able to help find customized gifts for everyone. That way, shoppers can rest assured knowing that they’re not blowing a ton of money on last-minute ideas out of desperation. 

Analyze Spending Habits

“AI-powered chatbots can also help with budgeting by analyzing your spending habits or suggesting ways to help you stick to a budget without compromising on quality gifts,” Kullberg said.

Chatbots can also review spending habits for those who are worried about going into debt to find the perfect gift for everyone on their list. Banks also offer AI tools regarding automatic savings and spending controls that customers can use throughout the holiday season to track spending.

Since holiday spending can get overwhelming, it’s important to have the right tools in place to avoid overspending and, ultimately, to save some money during the holidays.

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