In 2022, I published a six-part series on financial literacy designed to be easily relatable and help people build a stronger basic financial foundation. Four years later, the world looks different: Inflation, interest rates, technology, and investing trends have all evolved. Yet most of the core principles remain unchanged.
This blog revisits those lessons with a one sentence takeaway and has links to the previous post if you want to dig deeper but the real focus on this blog is the addition of Part 7!
Part 1: Introduction
Am I That Dumb About Money? Part 1: Introduction
Key takeaway: My attempt at being funny and engaging.
Part 2: Emergency Savings
Am I That Dumb About Money? Part 2: Saving Money
Key takeaway: Financial security starts before investing begins.
Part 3: Spending & Budgeting
Am I That Dumb About Money? Part 3: Spending & Budgeting
Key takeaway: You need to know where your money is going before you can optimize it.
Part 4: Debt Management
Am I That Dumb About Money? Part 4: Debt Management
Key takeaway: The best investment may be eliminating expensive debt.
Part 5: Investing
Am I That Dumb About Money? Part 5: Investing
Key takeaway: Wealth is usually built through consistency and discipline, not chasing after the new, shiny thing.
Part 6: Credit Health
Am I That Dumb About Money? Part 6: Credit Health
Key takeaway: Good credit comes from consistently paying on time, keeping debt low relative to available credit, preserving older accounts, and actively monitoring your credit reports.
New for 2026!
Part 7: Financial Literacy in the Age of AI
This section didn’t exist in 2022, but the use of AI has become much more prevalent, so it was worth adding. AI can be a powerful tool for improving financial literacy, but it also has limitations and risks. The key is understanding where AI adds value and where human judgment (or professional advice) is still important. And yes, I used AI to help me write this section.
Pros of AI for Financial Literacy
Makes Financial Information More Accessible: AI can explain complex topics in plain language, such as budgeting, credit scores, retirement accounts, taxes, investing concepts, etc. Someone who feels intimidated by financial jargon can ask questions without feeling embarrassed.
Available 24/7: Unlike a financial advisor, AI is available whenever questions arise. This can be especially helpful for young adults learning money management, parents teaching financial concepts to children, or people researching financial decisions outside business hours.
Personalized Learning: AI can adjust explanations based on age, experience level, learning style, etc.
Helps Build Financial Confidence: Many people avoid financial topics because they fear asking “stupid” questions. AI provides a judgment free environment where users can ask basic questions, follow-up questions, or even the same questions multiple times. This can encourage greater understanding of financial topics.
Cost-Effective Education: For people who cannot afford (or don’t want to pay for) financial coaches, financial planners, and/or tax professionals, AI can provide basic educational information at little to no cost.
Cons of AI for Financial Literacy
AI Can Be Wrong: This is by far the biggest risk because the internet is always right… right? Financial, tax, and legal rules change frequently. AI may misinterpret facts, use outdated information and/or oversimplify complex situations.
AI Doesn’t Know Your Full Situation: Financial decisions depend on income, family circumstances, tax status, risk tolerance, long-term goals, etc. Without complete information, AI (like a financial advisor with incomplete information) may provide incomplete guidance.
Can Create False Confidence: People may assume AI is always right, but AI can be wrong and have bias (depending on the algorithm, the way the question is worded, etc.). I have personally seen this happen with IRA/Roth IRA contributions rules.
Limited Accountability: If a financial planner is negligent, a CPA makes an error, an attorney commits malpractice there are professional standards and accountability mechanisms for these professionals. AI does not assume responsibility for financial decisions.
May Miss Behavioral Factors: Many financial problems are not knowledge problems. People often know they should save more, spend less, and avoid high interest debt. The challenge is behavior and discipline; areas where human coaching can be more effective than technology.
Privacy Considerations: Users should NEVER share account numbers, Social Security numbers, complete tax return details, any login credentials, etc. with AI (ChatGPT, Open AI…). Financial literacy questions are fine, but providing sensitive personal information is not fine.
Situations Where You Should Still Consult a Professional
Consider working with a qualified professional for:
1. Tax return preparation
2. Tax planning items like large Roth conversions
3. Retirement planning and distribution strategies
4. Major life transitions (inheritance, divorce, sale of a business)
5. Trust planning
6. Complex investment planning
7. Estate planning
Key takeaway from Part 7: Financial literacy is valuable, but education and advice are not always the same thing.
Conclusion
Looking back on my 2022 six-part financial literacy series, I’m encouraged (and marginally validated) by how many of the principles remain relevant today. While economic conditions change, the fundamentals of budgeting, saving, managing debt, and investing remain the same. Financial literacy isn’t about knowing everything, it’s about interpreting the information, making informed decisions, and knowing when to call in professionals that will help you move closer to your goals.