In this episode of NerdWallet's Smart Money Podcast, hosts Sean Pyles and Sara Rathner share the best money moves of 2023 as submitted by their fellow colleagues. Some of the highlights include saving aggressively to prepare for future expenses, getting rid of private mortgage insurance, automating finances for budgeting and planning, setting up 529 college savings plans for children, shopping around for the best mortgage rates, and understanding the difference between an emergency fund and a rainy day fund.

We recap the financial rollercoaster that was 2023, including interest rates, market movements, travel mishaps and more.

Before reviewing this year’s biggest financial news headlines, hosts Sean Pyles and Anna Helhoski discuss federal interest rates, dropping mortgage rates, strong holiday spending numbers, and two new record highs — one for the stock market, and the other for a Southwest Airlines fine.

Then, Sean and Anna turn their attention to an analysis of the economy's bizarre yet resilient nature in 2023. They discuss the strength of the job market, inflation fluctuations, surprising deflation in certain sectors, Congress's tussles over the debt ceiling, banks collapsing, and the trials of student loan borrowers. They also discuss the news that came at the conclusion of 2023, including looming government shutdown concerns and ongoing Congressional debates, setting the stage for what could unfold in the financial landscape of the coming year. 

In their conversation, the Nerds discuss: personal finance news, Federal Reserve, interest rates, mortgage rates, housing market, stock market, inflation, the US economy, holiday spending, Southwest Airlines, travel, unemployment, debt ceiling, Congress, banks, student loans, job market, inflation, government shutdown, strikes, gas prices, financial events, economic analysis, and the Dow Jones Industrial Average hitting a record high.

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected].

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Learn about practical money management tasks to set yourself up for success in 2024 and tips for choosing a budgeting app.

01:11 This Week in Your Money: Hosts Sean Pyles and Sara Rathner propose three money tasks to tackle this winter. The first is a task to do this week, the next is something to do over the course of a month, and the last is something you can do over the whole winter season. By completing these tasks, you may be able to put yourself in a better financial position going into the new year. They also share their personal strategies for setting budgeting boundaries and practicing radical acceptance with family members during the holiday season.

11:55 Today’s Money Question: NerdWallet writer Lauren Schwahn joins Sean and Sara to help answer a listener’s question about how to choose a new budgeting app, with many consumers in the market following the news that the Mint app is shutting down. They discuss different types of budgeting apps and how to understand your own needs to ensure that you choose an app that’s well-suited to your preferences. They also specifically discuss the NerdWallet, Copilot, and YNAB budgeting apps.

In their conversation, the Nerds discuss: personal finances, money management, budgeting apps, financial success, planning for 2024, Copilot app, YNAB app, spending trackers, financial checkups, Mint closure, budgeting boundaries, financial success, new year, financial empowerment, winter money tasks, financial checkup, money goals, unused subscriptions, spending habits, comparing budgeting apps, features, costs, security, customer support, money management styles, budgeting for beginners, budget categories, financial institutions, and budgeting app user reviews.

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected].

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In this episode of NerdWallet's Smart Money Podcast, hosts Sean Pyles and Sara Rathner share feedback and constructive criticism from listeners over the past year.

They discuss topics such as the need for more representation minority groups in financial discussions, the importance of highlighting issues related to race and gender, the coverage of alternative healthcare in insurance plans, and the challenges of discussing controversial topics from a financial perspective.

They also address listener comments about their personal experiences and perspectives on money management.

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected].

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Learn how to use AI for help with budgeting and saving money, then learn whether credit cards or debit cards are safer.

01:30 This Week in Your Money: NerdWallet banking writer Chanelle Bessette joins hosts Sean Pyles and Sara Rathner to discuss how AI can be used to help with budgeting and saving money. They explore how AI chatbots can assist in creating a budget and setting savings goals, why it’s important to double check chatbots’ math and consider seeking official financial advice for more risky decisions. They also talk about the benefits of incorporating AI into money management and DIY projects by providing cost estimates and step-by-step instructions. 

12:47 Today’s Money Question: NerdWallet writer Melissa Lamberina joins Sean and Sara to help answer a listener’s question about whether it’s safer to use a debit card or a credit card. She breaks down the differences in protections for credit and debit cards, including built-in safeguards and liability limits. They also explore the benefits of using credit cards and share their personal approaches to using credit and debit cards for daily transactions.

In their conversation, the Nerds discuss: AI chatbots, personal finance, budgeting help, savings, banking, money management, DIY projects, credit cards, debit cards, fraud protection, tracking expenses, financial strategies, daily transactions, artificial intelligence, credit card rewards, Electronic Funds Transfer Act, Fair Credit Billing Act, and liabilities for fraudulent charges.

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected].

Like what you hear? Please leave us a review and tell a friend.

In this episode of the Smart Money podcast, hosts Sean Pyles and Sara Rathner share the best money moves made by their listeners in 2023. Some of the wins include listeners who moved their Roth IRA account away from a pricey financial advisor, one who paid off their student loans and started a business, and another who successfully managed their money with ADHD. 

In their conversation, the Nerds discuss: Roth IRAs, credit scores, student loans, estate planning, home buying, credit cards, financial advisors, high-yield savings accounts, paying off cars, money market accounts, 401ks, and HSAs.

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected].

Like what you hear? Please leave us a review and tell a friend.

Learn how the Department of Justice is tackling the ticketing industry — and what it could mean for buyers and sellers.

Before focusing on Congress’ latest ticketing industry crackdown, hosts Sean Pyles and Anna Helhoski discuss the IRS' delayed online seller rule, a revision to Q3 GDP figures, a new survey on money and happiness, the merger between Alaska Airlines and Hawaiian Airlines, and self-serve airplane snacks. Get ready for an episode that dissects the struggle for fair ticket prices and the potential consequences of a ticketing market in need of change.

Then, Sean and Anna explore the chaotic world of concert ticketing, focusing on an investigation by Congress and the Justice Department into Live Nation Entertainment. They unpack the sky-high prices and dive into class-action lawsuits that Swifties and other concertgoers have leveled in recent years before explaining what could happen next.

In their conversation, the Nerds discuss: personal finance, news roundup, form 1099-K, ticketing industry investigation, Congress, the Justice Department, Ticketmaster, Live Nation Entertainment, high prices, lawsuits, IRS, digital payment processors, Q3 GDP, money and happiness survey, airline mergers, self-serve snacks, finance news, Congress investigation, event ticketing, fees, Biden Administration, and transparency of fees for event ticketing.

If you’re looking for an app to track all your money in one place, then check out the free NerdWallet app: https://nerdwallet.com/app 

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected].

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Protect yourself from sophisticated holiday shopping scams and explore the psychology behind changing your money mindset.

01:07 This Week in Your Money: Hosts Sean Pyles and Sara Rathner discuss tactics for avoiding three common money scams, including social media ad scams, charity scams, and gift card scams.

10:08 Today’s Money Question: Sean and Sara answer a listener’s question about how to change your money mindset. They discuss methods you can use to understand your current attitudes and behaviors towards money, the emotional connection to money and the stories we tell ourselves about our finances. They explain how past experiences and family dynamics can shape your money mindset, and offer tips for identifying and potentially changing harmful money habits. They also provide three clear steps for shifting your money mindset.

In their conversation, the Nerds discuss: holiday shopping scams, social media ad scams, charity scams, gift card scams, safe payment methods, financial attitudes, wealth, personal finances, money habits, financial self-awareness, money management, mindset shifting, impulse buys, financial goals, online shopping, fraud protection, financial challenges, financial empowerment, money mindset, financial management, saving habits, spending habits, financial growth, budgeting, impulse purchases, reverse budgeting, money mindset transformation, holiday fraud, and personal finance psychology.

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected].

Like what you hear? Please leave us a review and tell a friend.

Welcome to NerdWallet’s Smart Money podcast, where we answer real-world money questions. In this episode: 

Nerds Sean Pyles and Kimberly Palmer speak with Farnoosh Torabi, author of the new book, “A Healthy State of Panic.” She explains how we can use our fears as a superpower to make better decisions when it comes to finances, career and life. Torabi is a personal finance expert and host of the “So Money” podcast. 

In their discussion, Torabi shares how her upbringing as the daughter of immigrants taught her to be fearful of certain things, but that as an adult, she realized that embracing her natural fear of negative outcomes actually helps her to make better choices. During the pandemic, she decided to take the risk of buying a new home, even though she was scared of taking such a big leap. In retrospect, she says, it was one of the best decisions she and her family could have made.

Torabi also shares her advice on how to overcome paralyzing fear. Sometimes, she says, it’s a good idea to actually think through every terrible outcome that could occur, so you can realize that those results are unlikely to become reality. And in some cases, she adds, fear stops you from making truly bad choices. And while confronting such heavy topics, Torabi always maintains her trademark humor, bringing levity to difficult conversations. 

Check out this episode on your favorite podcast platform, including:

NerdWallet stories related to this episode:

A Scarcity Mindset Can Cost You Mentally and Financially 

Money Envy Harms Mental Health

Emergency Fund Calculator: How Much Will Protect You?

Have a money question? Text or call us at 901-730-6373. Or you can email us at [email protected]. To hear previous episodes, go to the podcast homepage.

Uncover the true cost of making financial decisions (and financial indecision) and get tips for shopping for a new bank.

01:19 This Week in Your Money: Explore the concept of financial opportunity cost and the trade-offs we make with our money with hosts Sean Pyles and Sara Rathner. They discuss the risks associated with sticking with the status quo, the importance of periodically reassessing your financial decisions, the potential pitfalls of always relying on automatic payments, and the benefits of switching banks and taking advantage of sign-up bonuses.

10:05 Today’s Money Question: Andee, a 69-year-old listener, joins Sean and Sara to discuss the challenges associated with finding the right bank for her financial needs. They talk about how to navigate the process of researching and switching banks for easier management and better interest rates. They discuss the sometimes misleading allure of signup bonuses, tips on how to compare banks, and options for managing savings and expenses through high-yield savings accounts. They also explain how you can use these accounts for both short-term and long-term goals, such as paying for recurring costs like mortgages and daycare, as well as saving for home renovations. 

27:17 Wrap-up.

In their conversation, the Nerds discuss: financial choices, changing banks, high-yield savings accounts, financial decisions, bank bonuses, financial trade-offs, managing personal finances, automatic payments, long-term financial goals, online banking, keeping multiple savings accounts, financial advisors, opportunity costs, financial trade-offs, maintaining the status quo, financial brand loyalty, interest rates, navigating customer reviews, banking customer service, checking accounts, savings accounts, sign up bonuses, and strategic financial planning.

If you’re looking for an app to track all your money in one place, then check out the free NerdWallet app: https://nerdwallet.com/app 

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected].

Like what you hear? Please leave us a review and tell a friend.