How AI can help you cut costs

Technology can help make your daily life more efficient and effective, but more importantly it can save you cash. 

Key learnings covered in this topic

  1. What is Artificial Intelligence (AI)
  2. How to save money on your bills using AI
  3. Financial advice available to you


If you’ve ever dreamt of a robot doing your chores, that time has come. Artificial Intelligence (AI) has been getting better for years, and now with ChatGPT and other chatbots being used extensively, AI is becoming a way of life. 

Four ways AI can save you cash:

1. Lower your bills

If you're looking to reduce your subscriptions, utilities, internet, insurance, or any other regular cost, AI can help. It can suggest strategies, talking points and even help you draft emails to negotiate better rates with service providers.

2. Smarter budgeting

The cost of living is out of control at the moment, which makes budgeting a crucial exercise.  Entering an overview of your income and expenses into AI can help you identify areas where you can cut back. It can also recommend budgeting strategies and tools to ensure you stay on track with your financial goals.

3. Efficiency tips

We’ve all been there. You think your budget is on track and then the energy bills arrive. If you need help to lower your electricity and heating bills and create a more cost-effective lifestyle, it might be time to consult a chatbot. From adjusting thermostat settings to recommending energy-efficient appliances, let AI be your guide to some great efficiency tips.

4. Save on groceries

If you’re at your wits end with weekly menus and grocery shopping, then AI could be your new best friend. Plug in the following script, fill in the particulars, and hey presto the planning is done.

Provide a 7-day meal plan with recipes. Include breakfasts, lunches, dinners and snacks.
Create a grocery list for a family of x adults and x children with a budget of $x.
We currently have in our pantry grocery item 1, grocery item 2, grocery item 3 (add as many as you want)
Include x meat free days 
Take into account a x allergy 

With a little help from AI, your weekly chore could be a streamlined, cost saving dream.  

What we can help you with

While AI can help you save time and money in your day-to-day life, we can help you get the most from your super. 

You have access to financial advice as part of your membership.* Give us a call to talk about:

•    Boosting your super with minimum impact to your take home pay
•    Tax effective ways to build your balance
•    Choosing the right investment option for your age and situation
•    Making sure your lifestyle is protected with insurance  

We can’t wait to hear from you so book a call-back today.

Information correct as at 17 October 2023.

*Financial advice obtained over the phone, or through MemberOnline, is provided by Mercer Financial Advice (Australia) Pty Ltd (MFAAPL) ABN 76 153 168 293, Australian Financial Services Licence #411766.