My 5 Best Pieces Of Money Advice, According To AI

I asked Perplexity for its opinion about my opinions. Here's what it said

Hello there, my friend.

There’s this new thing out there called AI, or artificial intelligence. Don’t worry if you haven’t heard of it. There’s hardly anything written about it these days. It’ll probably just be a fad.

Seriously, though, it seems like you can’t do anything, go anywhere, talk to anyone or read, watch or listen to any news source without AI coming up today. It is changing virtually everything we do in such profound ways and with such speed that it can be exciting, overwhelming and — in some ways — terrifying.

I’ve been tinkering with lots of different AI tools lately for my job at LendingTree, for this Substack, and for curiosity’s sake, among other reasons. In the midst of that tinkering, I decided to have a little fun with it, specifically with a tool called Perplexity.

Testing Perplexity

If you’re not familiar, this is how Perplexity describes itself: “Perplexity is an AI-powered search engine that transforms how you discover and interact with information. Simply ask any question, and it searches the web to deliver accessible, conversational answers backed by verifiable sources. Each response includes citations and links to original sources, enabling you to verify the information and explore topics in greater depth.”

Still, no AI tool is perfect. We are still in the very, very, very early days of these tools.

With that in mind, I entered the following prompt into the tool:

“My name is Matt Schulz. I'm a personal finance expert with LendingTree, the author of "Ask Questions, Save Money, Make More: How To Take Control Of Your Financial Life," and the creator of asksaveearn.substack.com. What do you think are the five best pieces of personal finance advice I've given in articles, interviews or posts?”

Here’s what it said, unedited (except for one editor’s note in #2) …

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The Five Best Pieces of Personal Finance Advice from Matt Schulz

1. Ask for Better Deals—On Everything

• You have more negotiating power than you realize when it comes to credit cards, bank fees, medical bills, subscriptions, rent, and even salaries.

• Simply asking, politely and confidently, for lower rates, waived fees, or discounts can save you significant money.

• Scripts, decision trees, and specific phrasing can make these conversations more effective.

• More than 90% of people who ask to get their credit card annual fee reduced are successful, but most never bother to ask.

2. Pay Down High-Interest Debt First

• Tackle high-interest credit card debt before focusing on other financial goals, as interest eats away at your financial foundation. (Editor’s note: There’s one important caveat. Scroll down to see it.)

• Using 0% balance transfer credit cards and negotiating lower rates with lenders are powerful tools that most people overlook.

3. Build and Maintain an Emergency Fund

• Even small, consistent savings in a high-yield account can provide valuable security and financial flexibility.

• Having a cushion prevents you from falling back into debt when unexpected expenses arise (like car repairs or vet bills).

4. Stick with Your Long-Term Goals—Don’t Panic

• Markets are volatile and economic news can be unsettling, but it's crucial not to abandon your long-term savings and investment plans in fear.

• Time is your greatest asset, so avoid rash decisions and focus on what matters most to you when budgeting and investing.

5. Be Proactive and Prepared—Track Spending and Advocate for Yourself

• Know where your money goes each month. Track expenses and set a budget even if it’s just for a few months to gain awareness and control.

• Regularly review recurring charges, unused subscriptions, and automatic payments so you can proactively eliminate wasteful spending.

• Document your accomplishments at work to position yourself well for salary negotiations.

Each of these principles is reinforced throughout your work: empowering people with the scripts, confidence, and know-how to take charge of their financial destiny—often by simply daring to ask the right questions.

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I then asked this simple question:

“What would be a good image to include with these 5 things in a Substack post?”

Here’s what it gave me:

I’m not gonna lie. The image it created is definitely a little bland, but overall, Perplexity did a pretty nice job of summing up what I talk about, especially as it relates to my book.

(One important caveat: Yes, you should focus on paying down high-interest debt, but you shouldn’t stop saving and investing while you’re doing it. The opportunity cost — the potential benefit that you give up by choosing not to save or invest — is simply too high. Yes, it means you’ll pay a little more interest and take a little longer to pay down that debt, but in the long run, it is likely the right move.)

It is far from a perfect tool at this point, but there’s no question that Perplexity can be incredibly useful when used thoughtfully.

Yes, of course, there’s also the lingering fear that AI is coming for all of our jobs…

or worse… right, Tom Cruise?

However, the truth is that AI isn’t coming. It is already here. It is having a seismic impact on virtually all aspects of our society right now, and those effects are only going to grow exponentially over the coming years. Those who don’t embrace it may be destined to suffer the same fate as the horse-and-buggy driver when automobiles emerged or the newspaper and magazine business when the Internet took over.

Are you using AI tools?

No matter how you vote, I’d love to hear your thoughts. Let me know what you think in the comments below.

Until next time!
Matt