04-02-2025
AI, your money: Tools that can help you save, invest
(WSPA) – We all hear a lot about artificial intelligence, but are you taking advantage of it?
When it comes to your finances, there are a lot of AI-fueled tools that could help you save more, even make more. In this consumer exclusive, how AI can help you grow your wealth.
In 2025 it's no longer a question of simply a digital divide, there's now a growing separation between those using artificial intelligence and those who won't touch it.
Mark Henry, CEO of Alloy Wealth Management in Greenville, said when it comes to personal finance, avoiding AI may be akin to wasting money.
'First off, the genie's left bottle. AI is here. I encourage people to embrace it because I think you'll find when you start adapting to it you're going to really like it. When you have a partner in an app let's say that is AI-driven, that can encourage you, help you stay on your goals, give you good tactical things that can help you, well that's brilliant,' Henry said.
There are a growing number of AI-fueled apps that can help you financially. Take budgeting for instance.
Cleo is a top-rated AI money coach that helps you save more and build credit.
Monarch Money won the best budgeting app of 2024. It simplifies finances by bringing all your accounts into one easy view.
There are dozens more that help you save, just search 'AI budget', but what about making money?
Henry said that one is tricky, but he believes you can use AI to better inform your decisions on investments, as long as you do your research.
Some notable AI-powered investment apps include:
Magnifi connects to your brokerage account so you can use AI to analyze your portfolio.
Trendspider which has real-time scanning where you can search for market opportunities.
To choose the best AI personal finance app for you, read the reviews and look for specific functionalities that meet your goal.
Also, research the app's accuracy:
Data privacy
Ease of use
Pricing
Compatibility with your device
Keep in mind, AI apps may answer your questions, but they won't ask you important questions back, like a personal finance professional.
Kylie Felker, President of the wealth management firm Foster Victor, said either way, AI is transforming the industry.
'In the past I think we've all needed to leverage very expensive software to find information about the markets or about different allocations, different metrics etc. Now, a lot of that stuff is available at your fingertips,' Felker said.
Henry couldn't agree more.
'AI is going to take everything that's been written, published, analyze it instantly, and put it back on your phone or laptop,' Henry said.
However, he said people should not use AI when they solely rely on it to make financial decisions.
So instead of avoiding the new tech, the take-home is to take advantage but with common sense.
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