AI and Your Money: Practical Ways to Boost Your Wealth (Part 3)

In the first two parts of our series, we looked at what AI is and how you can start learning about it. Now, let’s get practical. How can you use AI right now to manage your money, make smarter investment choices, and even find new ways to make money?

1. Improve Your Budgeting and Spending Habits

AI-powered budgeting apps do more than add up your numbers. They learn from your habits to help you:

Categorize spending automatically: Instead of manually sorting receipts, AI sorts your spending (groceries, bills, entertainment) so you can see exactly where your money is going.
Get spending insights: Some apps can identify trends, such as “you spend more on eating out on weekends” or “you’re close to going over your entertainment budget.” They can even send you alerts.
Manage subscriptions: AI can scan your bank statements to find recurring subscriptions you might have forgotten about, helping you cancel unused services and save money.
Set personalized savings goals: Based on your income and spending, AI can suggest realistic savings goals and even automatically move money to help you reach them faster.

Example Tools: Many popular personal finance apps (like Mint, YNAB, and Rocket Money) now use AI for these features.

2. Invest Smarter with Robo-Advisors

Robo-advisors are online platforms that use AI to make professional investing easy and affordable. You can:

Get a personalized portfolio: You answer a few questions about your financial goals (like saving for retirement), how much risk you’re comfortable with, and your timeline. The AI then creates a diverse investment portfolio just for you.
Have your portfolio automatically rebalanced: Markets go up and down. AI will automatically adjust your portfolio over time to keep it aligned with your goals without you having to do anything.
Use tax-loss harvesting: Some robo-advisors use AI to find opportunities to sell investments that have lost value to help lower your tax bill.
Pay lower fees: Compared to traditional financial advisors, robo-advisors usually have much lower fees, which means more of your money can grow.

Example Tools: Popular robo-advisor platforms include Betterment, Wealthfront, and Vanguard Digital Advisor.

3. Manage Debt More Strategically

AI can also help you tackle debt more smartly:

Get an optimized payoff plan: AI can look at all your debts (like credit cards and loans) and their interest rates. It can then suggest the most efficient way to pay them off, whether it’s the “debt avalanche” (paying off the highest interest debt first) or “debt snowball” (paying off the smallest debt first) method.
Receive payment reminders and alerts: AI-powered apps can send smart reminders to help you avoid late fees and stay on track with your payment schedule.

Example Tools: Some debt management apps and budgeting tools have features that use AI to analyze and recommend debt payoff strategies.

4. Discover New Income Opportunities with AI

Beyond managing your current money, AI can even help you create new income streams:

Content creation: If you want to start a side job like blogging, creating YouTube videos, or making online courses, AI tools (like ChatGPT or Google Gemini) can help you brainstorm ideas, outline content, write drafts, or even generate images.
Market research: AI can quickly analyze market trends, identify market gaps, and suggest high-demand business ideas.
Automated business processes: For small business owners, AI can automate customer service (with chatbots), marketing (with personalized ad campaigns), or data analysis, which frees up your time to focus on growing your business.
Learning new skills: AI can help you find and learn new, in-demand skills (like prompt engineering or data analysis) that could lead to a better job or freelance work.

The Future is Now

AI isn’t some far-off concept; it’s already here and it’s quickly changing how we handle our finances. By learning about its abilities and using AI-powered tools, you can gain a significant advantage in managing your finances, making smarter investment choices, and even discovering new ways to build wealth. Embrace these tools and empower yourself to build a more secure financial future.

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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.