We’re always looking for ways to help students with financing. That’s what brought us to CLEO. We got a chance to check out the app, and we wanted to share it with you.
What is CLEO?
CLEO AI is a digital financial assistant app. It helps people manage finances, leveraging artificial intelligence for insights. It’s also sassy. And that’s what makes it such a fun tool for budgeting.
Editor’s note: Hey there! Just a heads up—this post contains affiliate links. If you sign up for CLEO through our link, we may earn a small commission at no extra cost to you. This helps us keep sharing helpful tips and tools with you. Thanks for your support!
The Benefits of Artificial Intelligence
There are two main ways CLEO uses artificial intelligence to help you budget. The first is super powerful. It’s analysis. Connect it to your bank account like you would with a spending-tracking app, and it evaluates everything.
It notices patterns; then it surfaces them.
The second part of the artificial intelligence platform is the way it communicates. It shares it insights with a positive or negative spin, whichever you prefer.
Choose “roast mode” and CLEO will roast your poor financial decisions. Choose “hype mode” and it’ll boost your confidence for making stronger financial choices.
How The App Helps You Save for College
The main reason for a budget is to help you hit financial goals. For many of us, that means saving for college.
Do you know how much grad school costs?
With CLEO AI, you set specific goals for tuition, books, or even a 529 plan. Then it helps you create a budget. It helps students prioritize savings, and it shares tips on how to save money. It also automates savings.
You can also set up daily reminders with insights on progress. Imagine a friend who texts you anytime you make progress toward your goal.
That’s CLEO.
Personalized Savings Goals
One of the most powerful ways to use a digital financial assistant like CLEO is by sharing your savings goals.
Say you’ve already found a fully-funded PhD program, but you’re still in debt from undergrad.
Do you have a plan to repay your student loans?
CLEO also has a high-yield savings option. When we checked it this week, we saw higher-than-average APY (and so much higher than we saw a few years ago), so your FDIC-insured savings grow even without an investment portfolio.
Just set your savings goal and your target date. Then CLEO tracks your progress.
Cash Advance
The app also offers a cash advance feature. If you’re anything like me, your first thought is alarm bells. Cash advance loans are predatory, usually with incredibly high interest rates. They prey on low-income workers (especially students) and are very rarely, if ever, a good idea.
CLEO has a different way to access cash. With its cash advance feature, you’re borrowing from your already-earned income.
There are no late fees. No interest.
Just useful access to your money, right when you need it.
A cash advance isn’t the way to pay for grad school. But it’s an option when you want early access to the cash you’ve already earned.
Build Credit
One of the biggest challenges students face is a lack of credit history. While many banks stumble over themselves to hand out student loans, students don’t have enough resources to build credit from scratch.
That’s another place CLEO shines.
The app helps students build their credit (or repair their credit) with good financial habits and savings goals. One user boasted they saw a credit score surge 180+ points after only a few months of using the app.
Conclusion
CLEO AI is a digital financial assistant app that uses artificial intelligence to help users manage their finances in a fun way.
It’s engaging. And that’s what makes it useful.
This financial app also provides powerful analysis and talks with you in whichever way you find most motivating. It’ll be sassy, or it’ll be encouraging. Just tell it what you need.
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