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But they also have some downsides.
Some of these tools come with monthly fees and hidden costs, and they can often lead to overspending.
Theres also no personalization because of the lack of human interaction.
There are also automatically recurring app subscriptions that are difficult to cancel and even capitalize on people forgetting.
While this can definitely help you save money, it can sometimes lead to overspending and derail your finances.
Spending money to save money, also called spaving, isnt necessarily bad.
The problem is when it leads consumers to buy something they didnt want or need and may never use.
When you need something, find the money in your budget to buy it.
And when you dont [find the money], find the power to say no, Cruze said.
Lack of Human Interaction
Not all AI money appsoffer you the ability to speak with a professional.
But is this a good option for all investors?
Robo services are also limited in what they offer.
They can also help answer your personal finance questions, but you shouldnt rely on them.
it generates generic responses.
But thats the problem.
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