Millions turn to AI to manage finances across the UK

Over 28 million adults in the UK are turning to AI for budgeting and savings, signalling a shift in personal finance habits.
Growing reliance on AI is reshaping how Britons approach budgeting, savings, and investment planning while highlighting the need for trustworthy guidance.

AI is playing an increasingly important role in personal finance, with over 28 million UK adults using AI over the past year.

Lloyds Banking Group’s latest Consumer Digital Index reveals that many individuals turn to platforms like ChatGPT for budgeting, savings planning, and financial education, reporting an average annual savings of £399 through AI insights.

Digital confidence strongly supports financial empowerment. Two-thirds of internet users report that online tools enhance their ability to manage money, while those with higher digital skills experience lower stress and greater control over their finances.

Regular engagement with AI and other digital tools enhances both knowledge and confidence in financial decision-making.

Trust remains a significant concern despite growing usage. Around 80% of users worry about inaccurate information or insufficient personalisation, emphasising the need for reliable guidance.

Jas Singh, CEO of Consumer Relationships at Lloyds, highlights that banks must combine AI innovation with trusted expertise to help people make more intelligent choices and build long-term financial resilience.

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