Money Matters: Think twice before asking AI for money and debt advice

We’re all getting used to asking artificial intelligence (AI) for answers. Whether it’s helping us plan a holiday to suggesting what to cook for dinner, AI tools can be incredibly useful.

But when it comes to something as crucial as your finances, it’s important to think twice before taking advice from a chatbot.

In this week’s Money Matters column, Susan Sanders, Employment and Money Advice Manager at Housing Plus Group, looks at why AI should never replace professional money and debt advice.

AI can provide some useful information about things such as benefits, debt or household bills but it doesn’t know your full circumstances – and nor should it.

It also may not necessarily have the most up-to-date information, and it can sometimes give an answer that sounds convincing but actually, isn’t right.

And when you’re struggling financially, a small mistake could have a big impact. Applying for the wrong benefit, missing an important deadline or following unsuitable advice about a debt could leave you worse off.

And there’s s another important consideration too – you should really think carefully about what personal information you share with AI tools.

It might be tempting to type in details about your income, debts, household circumstances or financial problems to get answers tailored to you. But sensitive, personal and financial information is exactly that – sensitive.

You should avoid sharing information such as your full name and address, bank details, account numbers, passwords, National Insurance number or any other information that could identify you.

So, if you’re using AI to get advice around money and debt, keep your questions general and don’t use it as a substitute for professional advice.

That’s why getting advice from a qualified money and debt adviser is so important.

An adviser can listen to what’s going on in your life, understand your individual circumstances and look at the whole picture – including your income, household bills, debts, benefits and any other pressures you’re facing. They can also help you understand your options.

Most importantly, you can ask questions, explain what’s worrying you and talk through the situation together.

The sooner you seek advice, the more options you're likely to have, so don't wait until your money worries reach crisis point before asking for help.

Whether you’re struggling to pay your rent or energy bills, worried about debts, finding it difficult to make your money last until payday or simply want to check whether you’re receiving everything you’re entitled to, there is no shame in asking for help.

If you’re a Housing Plus Group customer, our Money Matters team is here to provide confidential, practical and personalised support.

So, by all means, ask AI to suggest a recipe for the leftovers in your fridge. But when it comes to your finances, make sure you talk to a real person.

4th September 2026