NerdWallet's Smart Money Podcast

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].

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Learn which prices are slowing down—or even dropping—as a result of deflation, including your Thanksgiving feast.

Before focusing on price deflation, hosts Sean Pyles and Anna Helhoski explore recent financial updates, including the rising income among first-time homebuyers, the United Autoworkers Union (UAW) ratifying new contracts with the Big Three automakers, and Black Friday and Cyber Monday sales trends.

Then, Sean and Anna explain what’s happening behind recent price deflation. They highlight significant price drops across various goods and services, including eggs, smartphones, health insurance, gas, and Thanksgiving dinner essentials. They also break down the significance of these price reductions amid ongoing inflationary pressures, potentially offering a glimpse of relief for consumers in specific sectors.

In their conversation, the Nerds discuss: homebuyer demographics, rising incomes, housing market shifts, UAW contracts, Black Friday sales, Cyber Monday sales, philanthropic gestures, deflation insights, price drop analysis, consumer trends, Thanksgiving food prices, holiday deals, charitable legacies, inflation impact, and deflation.

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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Do you really need money to be happy? Or is money the reason you’re unhappy? Either way, chances are your relationship to money and happiness is a little, well, messy. 

To kick off this Nerdy deep dive into money and happiness, Sean talks with happiness experts Gretchen Rubin and Robert Puff to understand what happiness really means. Then Sean talks with Morgan Housel, author of “The Psychology of Money,” about where money and happiness intersect.

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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Learn tactics to make and manage a budget, understand credit scores, and manage debt to improve your financial health.

02:02 Budgeting Basics: Personal Finance Nerd Elizabeth Ayoola discusses how you can create and stick to a budget. She explains how to use the 50-30-20 method to allocate your income, gives tips on how to adjust your budget to fit your needs, and methods for budgeting and stretching your paycheck when it arrives at different intervals, like monthly or biweekly. 

13:35 Credit Scores and Credit Reports: NerdWallet writer Lauren Schwahn breaks down the basics of credit scores and credit reports. She explains how to get negative or incorrect information off of your credit report, how to get a higher credit limit, and how different sources of debt can affect your credit. She also discusses the differences between good debt and bad debt.

25:59 How to Manage Debt: Elizabeth shares strategies you can use to manage debt in order to improve your financial health. She covers debt to income ratios, snowball and avalanche methods of debt repayment, debt consolidation, how to allocate extra income from side hustles, and the legal process of bankruptcy. 

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 

In their conversation, the Nerds discuss: personal finance tips, budgeting, managing debt, credit scores, financial goals, 50-30-20 method, expense tracking, credit reports, debt-to-income ratios, snowball method, avalanche method, debt consolidation, financial health, paying bills, budgeting strategies, income tracking, variable income, saving, debt repayment, bankruptcy, debt settlement, side hustles, financial discipline, credit utilization, emergency funds, and financial planning.

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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Delve into recent stock market developments. Plus, tax bracket adjustments.

Before taking an in-depth look at what’s going on in the stock and bond markets, hosts Sean Pyles and Anna Helhoski delve into the recent developments in personal finance news. They start by breaking down the latest inflation numbers. Then, they discuss the concerning increase in credit card delinquencies, shedding light on rising balances and the generational shift in credit card usage before offering smart tips on managing credit balances in a high-interest rate environment. They then turn their attention to the latest IRS tax bracket adjustments and break down the implications for taxpayers.

Investing Nerd Sam Taube then joins Sean and Anna to talk about recent stock market developments, unraveling the connection between rising Treasury yields, bond market shifts, and their impact on stock prices. They discuss potential implications for investors, diversification strategies for the current financial climate, and key economic events to watch for in November.

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 

In their conversation, the Nerds discuss: personal finance, market swings, inflation, credit card delinquencies, inflation-adjusted tax brackets for tax year 2024, stock markets, Pew Research Center survey on tipping, investing, economic events, treasury yields, interest rates, portfolio diversification, market fluctuations, consumer price index, Federal Reserve, borrowing costs, Dow Jones, the S&P 500, active trading, and inflation data.

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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Craft your holiday shopping plan with Black Friday insights, then understand options for buying a home in today’s market.

01:24 This Week in Your Money: Unlock the secrets of savvy shopping by learning about the biggest sales events of the year. Hosts Sean Pyles and Sara Rathner discuss the holiday shopping season with Personal Finance Nerd Tommy Tindall, who talks about the value of shopping on Black Friday versus other annual sales events like Cyber Monday, the best days of the season to find deals in certain categories like big ticket electronics and winter clothing, and helpful tips for how to budget for your holiday shopping list. 

12:55 Today’s Money Question: Home and Mortgage Nerd Kate Wood joins Sean and Sara to answer a listener’s question about whether to purchase a home now or wait and see if interest rates go down. They discuss the current state of interest rates, the refinancing process, interest rate buy downs, adjustable rate mortgages, and how state and local programs can help first-time homebuyers. They also explore different types of homes such as condos or townhouses on their way to helping first-time buyers understand their options for making homeownership an affordable dream.

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 

In their conversation, the Nerds discuss: Black Friday shopping tips, sales events, Cyber Monday, housing market, housing affordability crisis, 30-year mortgages, homeownership, adjustable rate mortgages, refinancing, home affordability calculator, housing affordability solutions, first-time home buyers, credit card debt, holiday shopping, home ownership, interest rates, real estate, and buy now, pay later loans.

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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Understand employer-provided benefits, from dental and vision coverage to more unique perks like legal assistance.

In the third and final episode of our special series on open enrollment, hosts Sean Pyles and Liz Weston discuss the various benefits that employers offer during open enrollment season aside from health insurance. Liz speaks with Amber Clayton (Society for Human Resource Management) about dental and vision coverage, long-term care insurance, pet insurance, legal assistance, adoption assistance, gym memberships, mental health benefits, and more. 

They offer tips for preparing for open enrollment, provide statistics on how common it is for certain benefits to be offered, and give an important reminder of upcoming enrollment deadlines for health insurance through the Affordable Care Act, Medicare, federal employee plans and private employer plans.

In their conversation, the Nerds discuss: employer-provided benefits, benefits packages, Society for Human Resource Management (SHRM), open enrollment season, dental coverage, vision coverage, ACA Marketplace, healthcare.gov, supplemental coverage, long-term care options, gym memberships, mental health benefits, employee benefits, pet insurance, in-network providers, health insurance, dental and vision insurance, financial planning, legal assistance, employee assistance programs, financial wellness, tuition assistance, adoption assistance, student loan reimbursements, 529 plan payroll deductions, company swag, free snacks, matching charitable contributions, and employee retention and recruitment.

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 recent headlines could impact your finances, including a federal real estate ruling and new employment figures.

Hosts Sean Pyles and Anna Helhoski start by dissecting the latest monthly jobs report and its potential impact on the Federal Reserve's interest rate policies, then explain how a recent federal jury's decision on real estate agent commissions could reshape the way homes are bought and sold in the United States. They then turn their attention to former cryptocurrency billionaire Sam Bankman-Fried's conviction on various counts of criminal fraud. 

With the announcement that popular budgeting app Mint will be retiring, the Nerds offer tips on how to transition to alternative budgeting tools. They also discuss open enrollment season for health insurance and other benefits, emphasizing the importance of making informed choices about insurance coverage. To wrap up the episode, Sean and Anna share an unusual legal story involving a subcontractor, a welding company, and a large stash of coins. Find out why cash isn't always king and why it may not pay to be difficult to work with in your financial dealings.

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 

In their conversation, the Nerds discuss: job reports, a realtor price-fixing ruling, crypto convictions, coin payment, personal finance, money news, labor market, Federal Reserve, real estate commissions, the National Association of Realtors (NAR) lawsuit, Sam Bankman-Fried, FTX, Mint, budgeting apps, healthcare open enrollment, health insurance benefits,, financial news, federal jury, antitrust case, cryptocurrency, wire fraud, securities fraud, money laundering, and paying with coins.

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 two quick credit tips, 403b and 529 plans, delinquencies on old loans, and budgeting when you only get paid once a month.

01:11 This Week in Your Money: Hosts Sean Pyles and Sara Rathner provide two quick tips for improving credit scores. The first tip involves credit utilization, which is the amount of available credit that you're using. They also discuss the option of asking for an increased credit card limit. For their second tip, they discuss the benefits and risks of becoming an authorized user on a friend or family’s credit card. To wrap up their discussion, they advise on the benefits of checking your credit report for accuracy and why it may not be necessary to worry about your exact credit score if it’s already above 720.

11:11 Money Question Lightning Round: NerdWallet’s Liz Weston joins Sean to answer several listener questions. They discuss 529 plans and how they may impact eligibility for financial aid, whether a delinquency on an old loan will still show up on a credit report after the loan has been refinanced, tax-advantaged vehicles for retirement savings when a 401k plan is unavailable (like a thrift savings plan), how to manage money when you only get paid once a month, and how to decide whether a 403b retirement plan is worth using as opposed to alternative retirement plans.

In their conversation, the Nerds discuss: credit scores, financial future, credit utilization, strategic payments, higher credit limits, authorized users, credit reports, 529 savings plans, need-based financial aid, college savings strategies, private student loans, refinancing, budgeting, retirement planning, spending tracking, budgeting software, automated transfers, Thrift Savings Plan (TSP), 401k and 403b retirement plans, retirement options, credit tips, credit card limit, credit bureaus, collections account, credit report error, budgeting tips, the savings bucket strategy, and lifestyle inflation.

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.

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 

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Explore coverage options to protect your income in worst-case scenarios, such as life insurance and disability insurance.

Hosts Sean Pyles and Liz Weston discuss the importance of insurance coverage, highlighting statistics around how many people are underinsured or lack adequate coverage. To dive deeper into different types of coverage, Liz welcomes Insurance Nerd Ryan Brady and John Ryan, founder and CEO of Ryan Insurance Strategy Consultants, to explain various types of insurance.

In this episode, they talk about life insurance, accidental death and dismemberment insurance (AD&D) insurance, and disability insurance, and explore the nuances of employer-provided life insurance and supplemental insurance. Plus: the complexities of disability insurance, comparing short-term and long-term coverage, and the interplay between employer-provided disability insurance, individual disability insurance, workers' compensation, and Social Security. 

In their conversation, the Nerds discuss: life insurance, disability insurance, workplace benefits, financial needs, income protection, supplemental insurance, accidental death and dismemberment insurance (AD&D), disability coverage, short-term disability, long-term disability, employer-provided disability insurance, choosing an insurance policy, workers' compensation, Social Security, insurance complexities, income safeguards, accidental death insurance, dismemberment insurance, critical illness insurance, hospital indemnity coverage, and pre-existing conditions clauses.

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.

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 

Learn more about your ad choices. Visit megaphone.fm/adchoices