NerdWallet's Smart Money Podcast

Understand the costs of renting versus buying a home. Plus: the UAW strike, GDP growth, debit card fees, and AI policy.

Before discussing housing affordability, hosts Sean Pyles and Anna Helhoski review noteworthy financial headlines, including an update on the UAW strike against major US automakers, the latest Commerce Department numbers on GDP growth, debit card merchant fees, and the White House’s wide-ranging executive order pertaining to artificial intelligence.

Then, Sean and Anna welcome Jeff Tucker, a senior economist at the real estate website Zillow, to discuss the impact that rising interest rates could have on your decision to rent or buy a home. Jeff provides historical context, explains the factors contributing to the gap between renting and buying costs, and touches on the challenges faced by first-time homebuyers. The discussion also explores the impact of housing inventory on the market, including whether homes are pulled off the market or remain unsold for extended periods.

In their conversation, the Nerds discuss: United Auto Workers (UAW) strike, GDP growth, debit card fees, AI Executive Order, housing affordability, renting vs. buying, personal finance, financial news, interest rates, inflation, mortgage rates, the economy, housing market, rental costs, down payments, homebuyers, housing inventory, AI technology, tech regulations, consumer spending, interest rate hikes, bank fees, and home ownership.

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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Hear Nerds’ “financial horror stories” and explore solutions for paying credit card debt, from 401k loans to bankruptcy.

01:20 This Week in Your Money: Hosts Sean Pyles and Sara Rathner share their personal “financial horror” stories, including Sean’s rejected credit card application and what happened to some of Sara’s retirement account funds. They’re cautionary tales that will help you make sure you’re getting the most out of your money.

09:46 Today’s Money Question: Sean welcomes Nerd Liz Weston and Tommy Tindall to help answer a question about whether a listener should consider taking out a 401k loan to pay off credit card debt. Tommy explains how calculating your debt-to-income ratio can help you understand your options. He also shares the pros and cons of various methods for paying off credit card debt, including credit card hardship programs, balance transfer cards, personal loans and filing for bankruptcy. He also shares his personal experience of taking out a $15,000 loan from his 401k to make a down payment on a house, breaking down both the benefits and opportunity costs associated with the decision. 

28:05 Final Thoughts.

In their conversation, the Nerds discuss: financial horror stories, credit card debt, debt-to-income ratio, investment journeys, 401k loans, debt-to-income ratio (DTI), credit card hardship programs, balance transfer cards, personal loans, missed payments, bankruptcy, high credit scores, retirement money, debt solutions, paying off debt, financial tools, compound returns, cashflow challenges, opportunity costs, credit counseling agencies, and debt management plans.

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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Expert Nerds talk through the complexities of open enrollment, starting with ways to assess healthcare plans and costs.

This episode takes a deep dive into specific terminology and scenarios relevant to choosing health insurance coverage. Hosts Sean Pyles and Liz Weston start with an overview of open enrollment period timelines for November and December 2023 before welcoming guest Nerd Kate Ashford to explain deductibles, premiums, HMOs, PPOs and HDHPs. 

Then, NerdWallet’s Tina Orem joins the show to discuss the pros and cons of high deductible plans and the intricacies of Health Savings Accounts (HSAs) and both Medical and Dependent Care Flexible Spending Accounts (FSAs). In the second half of this episode, she zeroes in on selecting optimal health insurance for individual needs, discussing the merits and disadvantages of different health plans, budgeting for healthcare, and how to compare the benefits of an FSA and an HSA.

In their conversation, the Nerds discuss: open enrollment, health insurance options, healthcare choices, high deductible plans, premiums, health savings accounts (HSAs), flexible spending accounts (FSAs), optimal health insurance, HMOs, PPOs, HDHPs, health insurance budgeting, FSA vs HSA, the use it or lose it rule, health insurance decision-making, health insurance terminology, healthcare strategies, health plan selection, medical costs, and types of health insurance coverage.

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 practical financial tips to save on rising commuting costs as workers increasingly return to the office.

Before discussing the rising costs of commuting, hosts Sean Pyles and Anna Helhoski review noteworthy financial headlines, including the Federal Reserve's influence on interest rates, the latest Commerce Department report on retail sales, the Mercer CFA Institute’s Global Pension Index ranking of 47 different kinds of retirement systems from around the world, and the IRS's pilot program for free tax preparation software called Direct File.

Then, Sean and Anna welcome NerdWallet’s Liz Renter to take a deep dive into the escalating costs of commuting to work. The Nerds explore the demographics of commuters, factors driving car ownership costs, the fluctuation in gas prices and the international events affecting fuel costs, and the used car market. They also discuss whether consumers can expect relief in the near future and share practical strategies for keeping costs down.

In their conversation, the Nerds discuss: personal finance, money news, commuting, car ownership, money headlines, the Federal Reserve, interest rates, retirement systems, the IRS, tax preparation software, commuting costs, auto insurance, gas prices, used car prices, economic trends, carpooling, savings, consumer spending, government debt, wealth, retirement savings, and fuel costs.

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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Get budgeting tips for conventions and hobbies straight from New York Comic Con, then learn about money saving strategies for car and home insurance.

01:20 This Week in Your Money: Having just returned from New York Comic Con, host Sean Pyles discusses what he learned about budgeting for conventions, hobbies and cosplay outfits. He also shares an interview with Kayden Phoenix, a Los Angeles-based comic book writer known for her Latina superheroes. Kayden shares her experiences attending Comic Con and other conventions, including the costs associated with attending such events and how she has managed to minimize expenses for her business. Following their interview, Sean highlights the strong sense of community and shares his overall impressions of the event.

13:17 Today’s Money Question: Insurance Nerd Ryan Brady joins Sean to help answer a listener’s question about car and home insurance, breaking down important elements to consider, what different coverages mean and how to save money. He first explains the different types of car insurance, including liability insurance, comprehensive and collision insurance, and uninsured and underinsured motorist coverage. He and Sean also discuss how to save money on car insurance by shopping around, asking about discounts, and raising deductibles. Ryan then moves on to home insurance and explains the different types of coverage, including dwelling coverage, personal property insurance, personal liability coverage, and loss of use coverage. He discusses the importance of insuring your home and the risks of not having insurance or being underinsured. The Nerds also provide tips for shopping for home insurance, such as comparing quotes and considering the coverage limits. 

In their conversation, the Nerds discuss: car insurance, home insurance, New York Comic Con, Kayden Phoenix, Latina superheroes, cosplay culture, dwelling coverage, personal property insurance, loss of use coverage, climate-related risks, insurance literacy, car insurance types, liability insurance, collision insurance, comprehensive coverage, uninsured motorist coverage, underinsured motorist coverage, insurance deductibles, cheap car insurance, insurance agents, insurance brokers, insurance discounts, raising insurance deductibles, being overinsured or underinsured, traffic accidents, and insurance claims.

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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Understand the financial and legal challenges in LGBTQ+ health care, including HIV treatment and gender-affirming surgery.

NerdWallet’s Sean Pyles and Sam Taube delve into the intricate financial and legal issues faced by the LGBTQ+ community regarding their health care. They start by exploring the struggle to prevent and treat HIV, focusing on the effectiveness and financial burden related to pre-exposure prophylaxis (PrEP) and highly effective antiretroviral treatment (HEART). Sam speaks with Tim Horn, a director of the public health systems team at the National Alliance of State and Territorial AIDS Directors, or NASTAD, about these drugs and available resources for those dealing with these expenses. The discussion isn't just about costs, but also shines a light on the barriers and shares resources.

Sam then discusses the high cost of gender-affirming care for transgender individuals. He speaks with Andrea Romero, a licensed financial advisor based in New Orleans, about how costs can start accumulating even before hormone therapy or surgery, including expenses related to therapy sessions, hair removal, binders or gaffs, and wardrobe changes. She also addresses the high costs of gender-affirming surgery, health insurance coverage, and resources and financial strategies that can help people manage these costs.

In their conversation, the Nerds discuss: LGBTQ+ health care costs, financial challenges, legal struggles, gender-affirming surgery, HIV prevention, treatment of HIV, pre-exposure prophylaxis drug assistance programs (PrEP DAPs), highly effective antiretroviral therapy (HEART), insurance coverage, patient assistance programs, copay assistance programs, state government programs, cost of transitioning, aesthetic treatments, hair removal, costs associated with gender-affirming care, trans health care costs, insurance coverage, and financial strategies.

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 plan for the golden years with a deep dive into long-term care, Social Security, Medicare and estate planning.

3:23 Long-Term Care Insurance: Kate Ashford, a certified senior advisor specializing in Medicare and retirement topics, discusses the intricacies of long-term care insurance, including exactly what Medicare covers in terms of long-term care costs. Kate also discusses alternative options to long-term care insurance such as hybrid policies that combine permanent life insurance with a long-term care rider.

8:30 Social Security: Liz Weston, a certified financial planner and senior writer on the core personal finance team, offers insights into the misconceptions and complexities surrounding Social Security. Liz discusses the big benefits of delaying Social Security claims to maximize benefits, addresses the idea of Social Security going bankrupt, and explains the difference between the decision to stop working and the decision to apply for Social Security. Liz also breaks down what happens to Social Security benefits when one member of a married couple dies.

15:47 Medicare: Alex Rosenberg, a lead writer specializing in Medicare and information technology, provides a comprehensive understanding of Medicare, a federal health insurance program primarily for individuals aged 65 and over. Alex explains the different parts of Medicare, including Part A (hospital insurance), Part B (outpatient care), and Part D (prescription drugs), and their associated costs and coverage. Alex also discusses the pros and cons of the two ways of getting Medicare coverage and stresses the importance of knowing when to sign up, choosing the appropriate coverage, preparing for premiums, and planning for non-covered healthcare needs.

24:02 Estate Planning: Dalia Ramirez, a lead writer specializing in estate planning, explores the critical aspects of end-of-life planning and estate management. Dalia talks about the necessary tools for estate planning, such as wills, trusts, beneficiary designated accounts, and property deeds, and delves into the significance of healthcare and medical pre-planning, which includes power of attorney designation and living wills. Dalia also discusses the importance of having a plan in place for emergency scenarios and the roles you might serve for a loved one, such as being a power of attorney for medical decisions or a beneficiary of their property. 

33:26 Q&A: The Nerds wrap up by explaining whether it’s possible to qualify for both Medicaid and Medicare, broad guidelines for coordinating the many responsibilities siblings may share when it comes to taking care of aging parents, and how often a will should be revisited after it’s created.

In their conversation, the Nerds discuss: end-of-life planning, the 30/60 talk, the 40/70 talk, long-term care insurance, Social Security benefits, Medicare Advantage, Medicaid, estate planning, health insurance, retirement planning, wills, trusts, power of attorney designation, living wills, emergency planning, family caregiving, managing medical and financial responsibilities, long-term financial decisions, healthcare pre-planning, beneficiary designations, and property deeds.

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 recent and upcoming changes in costs and access to reproductive care, as well as resources to manage them.

This episode delves into the complex and ever-changing landscape of reproductive care costs. Hosts Sean Pyles and Sam Taube discuss the financial implications of recent high-profile court cases, including the overturning of Roe v. Wade and the Burwell v. Hobby Lobby decision, which significantly transformed insurance coverage for birth control. Sean and Sam break down the before-insurance costs of contraceptives and explain how a new over-the-counter birth control pill, Opill, could help make birth control more accessible. 

Sam also speaks with Daily Garcia, a director at the Planned Parenthood Federation of America, about the costs and barriers associated with reproductive health care, particularly birth control and abortion. She explains how birth control and abortion costs can vary significantly based on type, insurance coverage, and individual circumstances. She also addresses the impact of state restrictions and resources available to help people overcome them.

In their conversation, the Nerds discuss: costs of reproductive care, the overturning of Roe v. Wade, Burwell v. Hobby Lobby, Dobbs v. Jackson Women's Health Health Organization, access to birth control, contraceptives, over-the-counter birth control pills, the Opill, abortion costs, travel costs for abortion, insurance coverage, health insurance, the National Network of Abortion, the National Abortion Hotline, health care accessibility, systemic discrimination, neglected communities, patient navigators, court cases, bodily autonomy, health care legislation, mifepristone, misoprostol, and Planned Parenthood resources.

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 removing medical debt from credit reports will protect consumers. Plus: rising interest rates and falling stock prices.

Before discussing news from the Consumer Financial Protection Bureau (CFPB) that could reshape the way medical debt impacts your credit score, hosts Sean Pyles and Anna Helhoski discuss the latest news around student loan forgiveness, rising auto and mortgage rates, and recent losses in the stock market. They then turn their attention to the benefits of omitting medical debts and collection information from credit reports.

In their conversation, the Nerds discuss: medical debt, credit reports, consumer protection, Medicaid disenrollment, Consumer Financial Protection Bureau (CFPB), healthcare costs, collection agencies, mortgage interest rates, stock prices, student loans, debt forgiveness, loan relief, income-driven repayment (IDR), car payments, 401k balances, Dow Jones Industrials, S&P 500, credit reporting agencies, and Medicaid coverage.

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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