Can AI always be accurate? Based on a Noida man’s post on Reddit, it doesn’t seem so. Reddit user aashish2137 posted his experience with ChatGPT calculating his family’s expenditure projections and delivering an analysis. The user, who posted his experience on the r/personalfinanceindia subreddit, uploaded their detailed household expenses for a family of four (two adults, two children) living in their own home but wasn’t satisfied with what the AI chatbot responded.
ChatGPT’s detailed analysis compared the family’s expenditure across various categories against typical average Indian family spends. The bot’s result revealed that the family’s total monthly expenses, which was ranging from Rs 1.46 to Rs 1.58 lakhs, were 50% to 100% higher than the average for similar households. According to ChatGPT, the monthly expense for such a family usually falls between Rs 75,000 and Rs 1 lakh.
ChatGPT analyses family expenses
Some of the key areas where the AI chatbot identified significant discrepancies included ‘Groceries and Help’, which, with a figure of Rs 30,700, were flagged as “Very High” compared to an average of Rs 12,000- Rs18,000.
Similarly, education expenses for two children at Rs 21,800 was noted as “Premium,” surpassing the average of Rs12,000- Rs 18,000. The bot also focused on transport costs (with a personal car), which at Rs 14,600, were categorised as “High” against a usual figure of Rs 6,000- Rs 9,000.
Discretionary spending on Travel (Rs 16,100) and Shopping and Electronics (Rs 23,000) were also highlighted as “Very High” and “Above Average,” respectively. Even Gifts & Festivals at Rs 16,100 were marked as “Very High” compared to an average of Rs 4,000- Rs 6,000.
ChatGPT also provided a broader financial overview, indicating that the family’s average monthly expense consisted of 29-32% of their household income, with essential expenses making up 15-18% and discretionary spending accounting for 12-15%.
Among its recommendations, ChatGPT advised the user to be diligent with shopping expenses and to consider culturally appropriate spending for gifts.
“I think ChatGPT comparison is slightly flawed for a family of four, but the data analysis is quite helpful. Maybe more prompts can get better analysis. I also gave additional prompts and ChatGPT kept sharing more insights which was quite interesting to read,” wrote the user. “What triggered this rabbit hole was wifey’s comment that we spend too much but it doesn’t show in our lifestyle,” he added.
“Separate topic – I tried the same analysis with Perplexity and CoPilot but none of them were as insightful as ChatGPT,” he commented on the topic of trying other bots.
Redditors responded to the issue
Redditors, however, also highlights that AI models need to be given proper prompts to get correct/desired responses. “They do, but every AI agent have different way of understanding the context, so the prompt needs to be tailored for that specific platform,” wrote one user.
Another user recommended taking it easy. “I don’t think there is a generic calculation to follow here. My wife and I easily spend 65% of our income and it doesn’t affect our long term goals. As long as your life is content, you don’t need to make any changes,” wrote another Redditor.