Document Type
Editorial
Date of Original Version
2025
Department
Human Development and Family Science
Abstract
Purpose – The purpose of this article is to evaluate the information quality generated by ChatGPT on rules of thumb in personal finance.
Design/methodology/approach – Prompts were developed to ask ChatGPT questions regarding rules of thumb in personal finance. After several iterations, we selected seven rules of thumb and asked ChatGPT to provide more in-depth information. The information was evaluated by checking its accuracy and validity based on relevant peer reviewed journal articles.
Findings – We found both advantages and limitations of using ChatGPT for information search. The advantages include its speed of information generation, width of topic generation, adaptivity to information demands, and provision of information sources. The limitations include that the information may be fake, inaccurate, inappropriate, too general, or lacking academic journal sources.
Originality/value – This is the first of attempts to use ChatGPT to generate relevant information regarding rules of thumb in personal finance, which provides experience and lessons of future researchers who will take similar approaches when conducting research.
Publication Title, e.g., Journal
International Journal of Bank Marketing
Citation/Publisher Attribution
Xiao, J. J. & Meng, K. (2025). AI and Personal Finance: Evaluating Rules of Thumb Generated by ChatGPT. Internal Journal of Bank Marketing. Ahead of print. https://doi.org/10.1108/IJBM-03-2025-0227
Available at https://doi.org/10.1108/IJBM-03-2025-0227
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