AI and Finances: An Expert Shares the Do’s and Don’ts
AI and Finances: An Expert Shares the Do’s and Don’ts
https://www.today.com/shop/artificial-intelligence-finance-expert-tips-rcna344029
Publish Date: 2026-05-28 07:55:00
Source Domain: www.today.com
For this edition of On the Money, sponsored by Credit Karma, money expert, certified financial planner and president of Exit Wealth Advisors Ted Jenkin stopped by TODAY to share tips on how to use (and not use) AI for your finances.
Artificial Intelligence (AI) is everywhere right now. People are using it for everything from planning trips, to writing emails, to seeking health advice. So it’s no surprise that Americans are now turning to AI for help with their personal finances. When it comes to your money, there’s one important question: Is AI helping you make smarter financial decisions or quietly costing you money? The reality is both can be true.
According to a recent MIT study, nearly half of respondents have turned to AI for financial advice or information. And among Americans already familiar with generative AI, that number climbs. In fact, 66% of those surveyed by our sponsor Credit Karma say they use it specifically to seek out financial advice. While AI can be a helpful tool to guide your personal financial decisions, it’s also important to understand the potential dangers.
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Finance and AI tips seen on 3rd Hour of TODAY
Ways AI can help your wallet
When used correctly, AI can be a great financial assistant. It can help save time, improve organization and increase financial confidence but it should be used as a study buddy, not a decision maker.
- Budgeting and organization: Sometimes budgeting can feel overwhelming. AI is really good at organizing financial chaos quickly to help simplify the process and make money management less intimidating.
- Financial education and learning money basics: Think of AI as a financial encyclopedia that can chat with you. If you want to understand the basic concepts, like the difference between a Roth IRA and 401(k), how…
