Half of Brits Would Turn to AI for Financial Advice, New Research Shows
A groundbreaking survey has revealed that half of British adults would consider using artificial intelligence for financial advice, marking a significant shift in how people approach money management. The research, commissioned by Post Office and conducted by OnePoll, surveyed 2,000 adults across the United Kingdom about their financial habits and preferences.
Generational Divide in Financial Advice Seeking
The study uncovered a striking generational divide in attitudes toward financial guidance. While 31% of Gen Z respondents turn to AI tools like ChatGPT or Google AI for money advice, only 3% of Baby Boomers do the same. This represents a tenfold difference between the youngest and oldest generations surveyed.
Remarkably, 19% of Gen Z respondents claimed that large language models have been more helpful for money tips than traditional financial advisors (16%) or banks (13%). In contrast, Millennials (42%) and Boomers (38%) placed greater trust in established saving experts like Martin Lewis.
Changing Attitudes Toward Money Conversations
The research indicates that traditional British reluctance to discuss money matters is evolving. While 27% of respondents reported feeling comfortable talking about finances with colleagues, suggesting workplaces are becoming important spaces for financial conversations, generational differences persist.
Older adults demonstrated greater discomfort discussing money with friends, with 29% of Boomers expressing unease compared to just 18% of Gen Z and 17% of Millennials. This suggests younger generations are breaking down long-standing taboos around financial discussions.
Virtual Financial Guidance on the Rise
Beyond AI, the survey revealed multiple virtual channels through which Brits seek financial guidance. Blogs and podcasts serve as sources for 13% of respondents, while 12% turn to YouTube for money advice. Online search engines remain particularly popular among younger generations, with 35% of Gen Z using them for financial guidance.
One in ten respondents (13%) expressed a preference for receiving financial advice from AI rather than human advisors, with 30% citing a desire to avoid judgment as their primary reason for this preference.
Healthy Financial Habits Across Generations
The research also highlighted positive financial behaviors among British adults. More than half (53%) track their monthly expenses regularly, while 52% maintain emergency funds and 49% actively avoid impulse purchases.
Respondents shared practical saving strategies, including the popular "40-30-20-10 method" for money management and the mantra: "Can't pay today? You have to walk away. Save for tomorrow, you won't have to borrow."
Expert Commentary on the Findings
Ross Borkett, Financial Services Director at Post Office, commented on the research findings: "Historically, Brits have shied away from talking about money, but that's changing dramatically. People are now turning to diverse sources including friends, family, colleagues, online forums, and increasingly, artificial intelligence."
"This shift demonstrates growing awareness about the importance of saving and developing smart financial habits," Borkett continued. "However, despite this progress, our research shows that a third of respondents have struggled to save any money over the past twelve months."
Borkett emphasized the importance of sustainable saving practices: "Wherever you're getting your financial guidance, the crucial factor is building savings sustainably and securely. Developing healthy habits like tracking expenses or setting aside money regularly can make a substantial difference in financial wellbeing."
Top Sources for Financial Advice
The survey identified the ten most popular sources for financial guidance among British adults:
- Friends or family
- Savings experts (e.g., Money Saving Expert)
- Financial advisors
- Banks
- Online search engines (e.g., Google)
- Government websites (e.g., Gov.UK)
- AI tools (e.g., ChatGPT, Copilot, Gemini, Google AI)
- Work colleagues
- Independent financial blogs or podcasts
- YouTube
The Post Office research underscores a fundamental transformation in how Britons approach financial guidance, with digital tools and artificial intelligence playing increasingly prominent roles alongside traditional advice sources.
