How to Use AI to Get a Debt Snowball Plan
Undebt.it Meets AI
It’s pretty amazing to see the capabilities of AI and how it can quickly process small pieces of information into something useful. I started playing around with a ChatGPT artificial intelligence bot and found that it can handle debt payoff calculations quite easily. It fully understands the concepts of the debt snowball & debt avalanche payoff meythods, so I decided to integrate AI into the site and built Undebt.AI, an interface to a generative AI model that can take your debt account and monthly budget information and present you with a plain English, easy to understand detailed explanation of the best way to pay down your debt. I think this will complement nicely with the existing advanced debt payoff tools on the site. Some people can get overwhelmed with the technical part of the site and are not sure where to start. Undebt.AI clearly explains the whole process of paying off your debt and why a particular method is better than the other.
How Undebt.AI Works
Undebt.AI is designed from the ground up to be really easy to use. Your debt account information and monthly budget are pre-populated for you at the top of the page. You can optionally add, remove or change your debt accounts as well as adjust your monthly budget to test out different “what if?” debt payoff scenarios. Keep in mind that none of the changes you make will affect your actual Undebt.it payoff plan. Press the “Get AI Plan” button and wait a few seconds for your custom payoff plan to be automatically generated.
Undebt.AI interface
Example AI Debt Payoff Plan Output
The output format and content of the AI bot can change from time to time, so it’s possible you won’t see the exact same results each time the calculation is ran. Here’s a screenshot of the output from a test scenario:
AI generated debt avalanche payoff plan
I like how it summarizes the debt information and then also provides a summary of the payoff plan. At the bottom of the results, there is a button that lets you copy the AI debt payoff plan to your clipboard in case you would like to save it and use it later.
How to Get Undebt.AI
Undebt.AI is part of the Undebt.it+ premium membership package right now due to there being a cost involved in using an AI bot. However, if the cost stays low, I’d like to make it part of the free site as well. There’s a free, no payment required 30 day trial if you want to try out Undebt.it+ and Undebt.AI. If you have already used the free trial, use the contact form and I can get you hooked up with an extension.
Summary
This has been an exciting project to work on and I’m looking forward to seeing some of the debt snowball examples that the AI comes up with. It will be interesting to see if it ever recommends using a plan other than the debt avalanche. The debt snowball method has some nuances to it that I’m not sure if the AI bot can appreciate, such as payoff off lots of smaller balance accounts to generate momentum. Please feel free to share your results!
