Australians are embracing AI and digital tools to understand and manage their money, yet many remain stressed and uncertain about their financial future
Australians are budgeting, tracking their spending and actively building their financial knowledge – yet despite doing many of the “right” things with money, most still don’t feel in control of their financial future.
New research from TAL and McCrindle reveals a stark disconnect between financial engagement and confidence:
- 86% regularly monitor their spending and 80% prioritise budgeting and financial planning;
- Yet just 28% are satisfied with their finances and 62% feel stressed when thinking about money; and
- 32% don’t feel in control of their financial future.
At the same time, Australians have more financial information and tools at their fingertips than ever. The research found more than 3 million Australians already use AI to help manage their financial activity, rising to one in four Gen Z Australians (25%).
But adoption doesn’t necessarily equal trust. Despite growing use of AI:
- Just 22% feel comfortable using AI to help make major financial decisions.
- Only 20% trust AI to recommend a financial product suited to their needs.
- Australians are more than twice as likely to act on advice from a paid, in-person financial adviser (42%) than an AI platform (18%).
Developed by TAL, one of Australia’s leading life insurers, in partnership with McCrindle, the inaugural Understanding Modern Australia report is a new annual study exploring how Australians think, feel and behave across money, health, technology, relationships and community.
TAL Group CEO and Managing Director, Fiona Macgregor said the findings show that while there is growing comfort in using tools and AI in our financial lives, access to more information isn’t automatically translating into greater financial confidence.
“We know Australians are already using AI to help inform themselves in many parts of life, including their finances. That can be empowering, particularly when people feel anxious, uncertain or that there is an imbalance of information.
“AI and digital tools can help people prepare, test their thinking and build confidence, but they need to be used with the right checks, trusted sources and human support where it matters.
“And financial confidence matters because it underpins so much more than wealth. It gives people the freedom to plan, protect their family and move forward.
“Our role is to understand changing behaviour and work with it,” Ms Macgregor said.
Mark McCrindle, Founder and Principal at McCrindle said the growing use of AI makes the role of trust particularly significant.
“This research confirms Australians are putting real effort into managing their money, but many are still struggling to turn that effort into a sense of control over their financial future.
“AI is quickly becoming a tool Australians use to understand and manage their finances, particularly among younger generations.
“The challenge is knowing what to trust, what’s relevant to your circumstances and having the confidence to act.
“Despite having access to more information than ever before, people still place greater weight on human expertise,” Mr McCrindle said.
Nicole Bendeich, Financial Adviser at Calibre Life said the findings reflected what she she’s in practice.
“People are using AI to build their knowledge and become informed to the best of their ability, which is a really positive thing.
“The challenge is that more information can sometimes create decision paralysis, where people aren't sure what to trust or which option is right for them. What many people are ultimately looking for isn't more information, but confidence that they're making the right decision for their own situation. That really requires an understanding of the person behind the data inputs: their lifestyle, values, emotions and behaviour,” Ms Bendeich said.
Regional Australians more cautious about AI
The research also reveals a different picture outside major cities, with regional Australians more cautious about using AI for financial decisions:
- 28% would act on financial advice from an AI platform, compared with 42% of metro Australians.
- 15% feel comfortable using AI to make major financial decisions, compared with 23% in metro areas.
Despite these differences, attitudes towards transparency are almost identical: 85% of regional and 86% of metro Australians want to know if financial advice they receive from a human adviser was generated by AI.
Five ways to navigate financial information overload
As part of the Understanding Modern Australia report, TAL spoke to financial advisers about navigating the growing volume of financial information available. Five common themes emerged:
- Start with what matters: Have a clear sense of your goals and priorities to help identify which information is relevant.
- Focus on the next step: Breaking bigger financial goals into smaller steps can make them feel more manageable.
- Consider the source: Look at who is behind financial information, its credibility and whether it’s relevant to your circumstances.
- Understand the limits of technology: AI and digital tools can be useful sources of information, but may not account for an individual’s full circumstances.
- Look beyond the numbers: Consider what financial security means personally – from greater choice to family security and peace of mind.
About us:
About the Understanding Modern Australia report
The Understanding Modern Australia report is a new longitudinal research platform designed to track how Australians' think, feel and behave, over time, in an increasingly complex and fast-paced world.
The corresponding Modern Australia Confidence index, measures the gap between what Australians believe and how they behave, shaping their confidence across the five pillars of modern life: health and wellbeing, society and culture, financial wellbeing, digital life and personal connections.
Methodology note: Data in this media release is based on a nationally representative survey (by gender, age and state) of 2,005 Australians which was in field from 28 April to 8 May 2026 and was conducted by McCrindle.
About McCrindle
McCrindle is one of Australia's leading social research and advisory firms, known for its work tracking the trends, generations and forces shaping Australian society. Founded by social researcher and demographer Mark McCrindle, the firm works with organisations across the private and public sectors to turn data into actionable insight. McCrindle is the research partner behind the Understanding Modern Australia Confidence index.
About TAL
TAL is one of Australia's leading life insurance specialists. For over 150 years, TAL has been protecting people, not things. Together with its partners, TAL insures more than 5 million customers and offers life insurance through the following channels: direct to consumer; through a financial adviser; and via group and workplace superannuation schemes. TAL is part of the Daiichi Life Group, one of the world’s largest insurance groups.
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