'The numbers came out quite similar': How AI helped Aussie choose travel over a mortgage
By Allison Yee|
There's no denying the endless uses we now have for artificial intelligence in our lives.
From helping with mundane work reports to managing life admin, it seems we're only limited by our imagination in how to use this new technology.
And now one Aussie woman has revealed how ChatGPT cemented her decision to turn her back on a mortgage and instead focus on travel.
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A mortgage versus life experiences
Like any Sydneysider, Michelle Cheah, 29, knows all too well how difficult and expensive it is to buy real estate as property prices continue to rise.
The tech worker and travel enthusiast decided to use ChatGPT to figure out whether she should buy a home, or instead use alternative investment options that would allow her access to her savings to fund her wanderlust.
"I was just wondering what the difference was between buying [a home] and putting all your money in the one investment, or renting and then putting the money you saved into a more diversified fund," she tells 9Travel.
"The numbers came out quite similar."
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For Michelle, who first fell in love with travel when she went on a university exchange to Los Angeles, this AI validation was all she needed.
"Being single, I don't really have any need to be grounded in Sydney," she says.
"I have the freedom to do what I want. I can book a flight for next week if I really wanted to."
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Priceless adventures
Michelle admits she spent $20,000 on travel for herself last year, as well as separately paying for her entire family to holiday in Europe.
"There's more to learn about the world and being a global citizen is so important, to have a different perspective on life and not feel so boxed in," she says.
"It's not like I have no savings. It's travelling but doing it smart - being able to invest so I have liquid funds to spend on something fun when I'm able to enjoy that sort of lifestyle."
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This backs up new research from Southern Cross Travel Insurance (SCTI) that reveals nearly half (45 per cent) of Aussies aged 18 to 44 years agree that buying a home is out of reach for them.
Instead, they're choosing to spend more on travel and other experiences.
Solo travel on a budget
With countless countries under her belt and exploring Banff in Canada by van as her next bucket list trip, Michelle admits it can be hard to find a holiday companion.
"[My travel destinations are] mainly based on where people are willing to go with me, and if not, it's based on the price of the flight," she says.
"A lot of my friends are homeowners and struggling with a mortgage, so it is quite tough. I'm lucky enough to have so many friends around the world that I can stay with anyway."
Despite this, Michelle admits that travelling alone can have its benefits as she's able to be more flexible with her plans and indulge her passion for connecting with new people.
"I've been able to stay in different places where I can meet people," she says. "I do a mix of [travelling styles]. I'll have a hostel stay and then to end my trip, I'll stay at a five-star hotel."
Using AI as a travel tool
Michelle also uses AI to enhance her experiences while she's overseas.
"Recently I went to San Francisco for work, and I'd heard that San Francisco's quite dangerous so I asked ChatGPT, 'What are the most dangerous streets?' so I didn't accidentally walk in those streets," she says.
It's also been helpful in planning itineraries that take her off the beaten path.
"I even ask ChatGPT about places that people don't usually go to so there's less tourists, because that's the not the kind of travelling I do," says Michelle. "I usually ask for areas to visit and then I'll go to Google to do my research there."
Embracing the wanderlust lifestyle
While Michelle admits she does worry if she's making the right choices for the future, she's keen to make the most of her current situation, especially with her manager giving her the freedom to work remotely.
"Buying property is never a bad idea, but I just think right now as a single person who is potentially putting themselves into a 35-year mortgage on their own, it's very risky, in case I lose my job or something happens and I'm not able to work," she says.
"I have friends who live in Italy and it's very common for people in Europe to only have 10,000 Euros (AUD $17,200) in their bank - they rent and travel.
"I feel like [committing to a mortgage is] a very success-driven thing that we have here in Australia."
