AI-Assisted Personal Finance for Minimalists: Streamlining Budgeting and Saving

In an era characterized by complexity and information overload, minimalism has emerged as a lifestyle choice embraced by individuals seeking simplicity and intentionality in various aspects of their lives. This study explores the intersection of minimalism and artificial intelligence (AI) in the realm of personal finance, introducing the concept of “AI-Assisted Personal Finance for Minimalists.” Minimalists prioritize what truly matters, focusing on essential expenditures, mindful saving, and the reduction of financial intricacies. AI-powered tools and platforms excel at automating tasks, providing real-time insights, and simplifying decision-making. The synergy between minimalism and AI in personal finance offers a promising paradigm shift. The research investigates the readiness and intention of individuals to adopt AI-powered financial tools to streamline budgeting processes and enhance savings within a minimalist framework. Drawing upon the Technology Readiness Index (TRI) framework, the study assesses four key dimensions: optimism, innovation, discomfort, and insecurity, to gauge respondents’ willingness to adopt AI-powered tools for minimalist financial management. The findings challenge conventional expectations, indicating that discomfort and insecurity do not act as significant deterrents to the adoption of AI-powered financial tools. Optimism and innovation significantly influence individuals’ positive intentions to use these tools. Respondents are open to leveraging technology to simplify financial management and align with minimalist principles. Automated expense tracking and automated bill payments are among the AI-powered tools most preferred by respondents.