AI and Your Money: Learning and Applying AI to Your Finances (Part 2)

In Part 1, we discussed what Artificial Intelligence (AI) is and why it’s becoming increasingly important for managing your finances. Now that you know what AI is, you might be wondering how to use it to improve your finances. The good news is you don’t need to be a tech expert. There are many easy ways to get started

How to Learn About AI (Without Becoming a Programmer)

Learning about AI doesn’t mean you have to understand complex computer code. Instead, focus on understanding what AI can do and how it’s being used.

Start with the Basics Online: Many websites offer free, easy-to-understand explanations of AI. Look for articles, videos, or short courses from places like universities, tech companies, or financial news sites that explain AI in simple terms. Pay attention to ideas like “machine learning” and “data analysis.”
Experiment with AI Tools: The best way to understand AI is to use it yourself. Try out tools like ChatGPT or Google Gemini. You can ask these AI chatbots questions, get summaries of difficult topics, or even brainstorm ideas. For example, ask them to explain “compound interest” in simple terms or to compare the pros and cons of different retirement accounts.
Use AI-powered budgeting apps: Many personal finance apps now use AI to automatically sort your spending, predict future costs, and suggest ways to save money. Using them is a practical way to see what AI can do.
Follow Financial Tech Experts: Look for financial advisors, bloggers, or news sources that focus on “FinTech” (financial technology) and AI’s role in it. They are great at explaining complicated ideas in a way that’s easy to understand.
Attend Webinars or Workshops: Watch for free online webinars or local workshops on personal finance that cover technology or AI. These can give you helpful tips and allow you to ask questions directly.

The goal is not to become an AI developer, but to become an “AI-literate” user who understands its potential and limits, especially in the world of money.

Applying AI to Your Finances: Getting Started

With a basic understanding, you can start exploring how AI is already changing how we manage our personal finances:

Automated Budgeting and Spending Analysis: Many budgeting apps use AI to automatically categorize your transactions. This helps you see exactly where your money goes without having to enter everything manually. Some can even spot your spending habits and suggest areas where you could cut back.
Personalized Financial Advice (Robo-Advisors): Robo-advisors are online platforms that use AI to manage your investments. You answer a few questions about your financial goals and comfort with risk, and the robo-advisor builds and manages a diversified investment portfolio for you. This makes professional-level investing more accessible and often more affordable.
Fraud Detection and Security: Banks and credit card companies rely heavily on AI to monitor your transactions and flag unusual activity that could be a sign of fraud. If your card is suddenly used in a different country or for a huge purchase that’s out of the ordinary for you, AI is often the first to notice.
Debt Management Tools: Some apps and platforms use AI to analyze your debts, interest rates, and income. They can then suggest the smartest way to pay them off, whether it’s using the “debt snowball” or “debt avalanche” method.

In Part 3 of this series, we’ll dive deeper into more specific, hands-on ways AI can help you boost your finances and even generate new income. Get ready to unlock AI’s full potential to improve your financial well-being!

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Larry Marvin

LifeCrafter Money $ense

Sources

How AI is Transforming UX Research in 2025 (+10 Powerful AI Tools) | Looppanel. https://www.looppanel.com/blog/ai-uxresearch-10-powerful-tools

Starting Your Investment Journey: How Much Do You Need?. https://tickeron.com/trading-investing-101/topic-how-much-money-will-i-need/

LifeCrafter.org. (2025). Gemini. https://gemini.google.com/app/f84041c46c538967

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Larry Marvin

Larry Marvin is a graduate of Eastern Michigan University and a veteran of the U.S. Air Force. His career spans over fifty years as a corporate trainer, medical administrator, small business owner, income management coach, and public speaker. He has conducted over 300 workshops, classes, and seminars during his years as a corporate trainer on such topics as budgeting, debt elimination, banking, saving plans, budgeting software, spreadsheets, and investing basics.Larry has conducted budgeting and debt elimination seminars at U.S. Steel and UAB Special Studies.
His passion is teaching and equipping people with the financial knowledge they need to act in the best interest of their money and family.

He is passionate about his faith, has been married to his wife for 54+ years, and has three adult children and fourteen grandchildren.

Larry Marvin is the co-founder and Executive Director of LifeCrafter Foundation.