Discover how young people are increasingly turning to AI for financial guidance and how this technology can help them build better money habits in a digital world.
Image: TVBRICS
Not too long ago, money had weight. Banknotes and coins lived in leather wallets, colourful piggy banks and the pockets of school uniforms. You could count it, lose it, put it somewhere safe or watch it disappear one cent at a time.
Today, money is virtual. Opening a wallet or taking out a physical bank card is often met with disbelief, viewed as a bit old school. Especially among the youth.
Spending money is now little more than a tap, a swipe or a click for a food delivery, a gaming purchase or a music subscription. Payment happens mostly by waving a phone over a scanner or flipping the wrist to make your smartwatch speak to the pay point.
Money may be virtual, but financial reality is not
While money may have become virtual and technology has transformed how we spend it, financial reality has not. That is where the challenge begins.
An empty account is still empty. Debt is still debt. A declined transaction is exactly that. There is nothing virtual about running out of money.
The old piggy-bank lesson is as true today as it was decades ago: if you are not filling its belly, you are emptying it.
The difference is that young people now need to learn this lesson in a digitally transformed world.
The opportunity lies in using the same technology that has changed our relationship with money to help our youth understand and manage their finances better.
AI can turn financial jargon into understandable conversations
According to a recent Intuit Credit Karma survey in America, young adults are increasingly turning to AI for financial guidance. Among people who had used generative AI, 82% of Gen Z and Millennials said they had used it to seek financial advice, making them the most enthusiastic adopters of AI-powered money guidance.
Research from the World Economic Forum highlights how AI-powered tools are increasingly helping people understand complex financial concepts, analyse spending habits and identify opportunities to improve financial well-being.
In practical terms, AI can help transform intimidating financial jargon into simple, understandable conversations.
And for a generation that has grown up talking to technology, that matters.
What do you think, Claude?
Young people engage AI assistants such as Claude or ChatGPT to answer everyday questions. Why can it not be used effectively to build better money habits too?
Instead of reading a generic article about budgeting, a young person has an actual conversation, asking questions like:
“How should I divide my monthly allowance?”
“Can I afford this purchase?”
“How much would I have in five years if I saved R100 every month?”
“Why do people say debt is expensive?”
Learning becomes interactive rather than instructional. The conversation does not end after one lesson, and questions can be asked repeatedly and different scenarios tested.
No boring money talk here
Financial talk has never been known as the most exciting topic.
Let's be honest: words like budgeting, savings and compound interest rarely trend on social media among the youth. For many young people, it sounds like topics only for a future version of themselves.
AI has the potential to change that.
Imagine this: AI tutors using financial quizzes to determine current levels of knowledge and adapt financial lessons accordingly. Generative AI creating scenarios where young people can solve financial challenges. An AI-driven fantasy finance league, or virtual stock market.
For younger generations, asking questions in their own language and style can make financial concepts more tangible and provide real-life outcomes. Seeing the consequences of their choices firsthand makes them far more likely to take ownership of their decisions.
Financial inclusion and positive behaviour for long-term success
Education alone is not enough. It goes way beyond awareness campaigns, to improving how people behave with money and being able to measure and prove that positive change.
Traditionally, financial inclusion has focused on access to bank accounts, products and services. But there is growing recognition that access alone is not enough.
A person can have a bank account and still feel overwhelmed by financial decisions, or access to credit without understanding how debt works. Even young earners often lack the knowledge to manage money effectively. A recent Youth Generational Wealth survey by 1Life Insurance found that more than 50% do not know how to build a stable financial future.
When people understand financial concepts and feel confident engaging with topics like saving, investing and protecting wealth, they transact more and engage more meaningfully. This is not about selling products, but about financially healthier customers. That is where the real value lies.
Meeting young people where they are
Young people are already living in a world shaped by AI. For many it is one of their most constant companions.
Used intentionally, AI can help expand financial inclusion, influence financial behaviour and encourage better financial decisions from an early age — even if it starts with a simple question: "What happens if I save R20 a day instead of spending it?"
Money may have become invisible, but good money habits never go out of fashion.
And if AI can help a generation build those habits earlier, that is a future worth investing in.
Kayle is the CEO of Worth.
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