Money management plays a crucial role in day to day activities of an individual. Effective money management reduces the risk of loses and help individuals to gain wealth. Tracking these personal expenses from day to day activities is a hectic and time consuming task and often has high risk of human errors. These personal finance management applications use Artificial Intelligence to effectively analyse patterns by continuously learning from user interactions and financial habits of various individuals who differ in the age, gender and their income levels from with their user friendly interfaces track people’s expenses and provide customised solutions according to their need thus mitigating errors and saves users efforts and time. This study is based on primary data where responses are collected from various individuals who use these personal finance management applications. The findings demonstrate on how the user demographics plays a role in the extent of personal finance management applications usage and to discover intended purpose among individuals, related challenges they face in adopting these AI powered features for customised solutions and the impact of these AI powered tools in these finance applications.