NerdWallet's Smart Money Podcast

Explore the impact of generational financial trauma on millennials, how social media amplifies it and ideas for healing.

Personal Finance Nerd Tiffany Curtis delves into the complex topic of generational financial trauma, particularly its impact on millennials, with two special guests: Aja Evans and Rahkim Sabree. Aja Evans is a licensed mental health counselor and financial therapist, and Rahkim Sabree is a certified financial education instructor and author. Together, they explore how past financial landscapes can shape our current financial behaviors, the double-edged sword of social media in shaping financial perspectives, and the importance of understanding these impacts, especially for marginalized groups.

The episode also delves into the Black community's discussions around self-reliance and reparations. The speakers challenge the notion that achieving financial success is an antidote to generational trauma and expose how these misconceptions can breed competition among marginalized communities. Wrapping up the episode, the hosts stress the importance of financial literacy while discussing its limitations in closing racial and gender wealth gaps. 

In this conversation, you’ll learn about: generational financial trauma, millennials, social media echo chambers, marginalized groups, how people define financial success, racial and gender wealth gaps, mental health counseling, financial therapists, financial education instructors, reparations, trauma healing, financial strain, and distorted financial perceptions.

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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Nerds explain this week’s personal finance news, with a focus on labor unrest as the United Auto Workers union prepares to strike.

In Smart Money’s new weekly personal finance news roundup, hosts Sean Pyles and Anna Helhoski take a look at recent developments in the world of money and then go in-depth on an issue that could be important to your life — and your bottom line. 

Today’s topics include rising home prices, the latest statistics on household wealth and debt, the rise in poverty from 2021 and 2022, and high-yield savings accounts. Plus, Sean and Anna take a deep look at the United Auto Workers' (UAW) threatened strike against the three largest automakers: Ford, General Motors and Stellantis. Learn what the workers want and what it could mean for your car shopping prospects if their demands aren’t met.

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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Ace your next job interview with questions you may not have considered asking, then learn how travel insurance works.

01:13 This Week in Your Money: Before you head into your next job interview, consider asking yourself some questions suggested by hosts Sean Pyles and Liz Weston. They share specific questions you can ask in an interview to gain valuable insights into the position and the organization. They also suggest things you may want to ask yourself before jumping into a new role.

06:25 Today’s Money Question: Travel Nerd Sally French joins Sean and Liz to explore the intricacies of travel insurance. They discuss the types of coverage available, including “cancel for any reason” coverage and medical coverage, and the benefits of each. Then, they delve into the limitations of certain travel insurance policies, particularly those associated with credit cards. Finally, they explain the importance of understanding the specifics of a policy and options for assessing whether it suits individual travel needs and circumstances.

In their conversation, the Nerds discuss: job interview questions, recruiters, career changes, interview tips, travel insurance coverage, travel planning, credit card perks, travel credit cards, travel tips, credit card travel insurance, international travel, medical coverage while traveling abroad, and cancel for any reason travel insurance.

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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Discover how global events molded millennial finances, and hear ideas for addressing economic challenges and financial trauma.

In this Nerdy deep dive, personal finance Nerd Tiffany Curtis joins host Sean Pyles to discuss millennial money woes, from generational financial trauma to structural challenges that have made financial life more difficult for Americans between 27 and 42 years old. They discuss the changing ways that generations are studied and explore how world events such as the financial crisis and the COVID-19 pandemic have shaped people’s financial attitudes. 

Tiffany also talks with Angela Moore, certified financial planner and founder of Modern Money Education, a financial education firm. They discuss the historic and present-day factors that have shaped millennials’ relationship with money and ways that they can take ownership of their finances. They also debunk myths surrounding millennials and money, the impact of the internet on financial empowerment, how the millennial pursuit of happiness impacts their career choices, lifestyle, and relationship with money. You’ll walk away with valuable insights into the tools millennials can use to empower themselves financially, including organizing finances, setting goals, and understanding the importance of insurance and estate planning. 

In their conversation, Angela and Tiffany discuss: millennials, financial behavior, modern money education, generational financial trauma, wealth inequality, financial attitudes, career choices, generational divisions, disability insurance, estate planning, money management, generational wealth, retirement planning, budgeting, and financial goals.

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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The rates on certificates of deposit have shot up over the past year. But are CDs really a good option, especially when high-yield savings accounts are offering similar yields? Sean Pyles and Sara Rathner discuss.

Then Sean and Liz Weston talk with a listener about how to manage a life-changing financial windfall.

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

Timestamps:

This Week in Your Money segment: 0:00 - 6:33

Money Question segment: 6:34 - 30:44

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Explore how AI can help with personalized travel planning, then learn about Employee Stock Purchase Plans (ESPPs).

01:08 This Week in Your Money: Travel Nerd Sam Kemmis discusses the surprising benefits of using artificial intelligence for personalized travel planning. He joins hosts Sean Pyles and Liz Weston to share his experiences with AI tools like Google's Bard and ChatGPT, including tips for guiding AI and validating creative suggestions before committing to a travel itinerary. The Nerds also explore the pros and cons of “mystery travel,” where travelers embark on journeys without a concrete itinerary in order to embrace spontaneity and adventure.

17:38 Today’s Money Question: Investing Nerd Andy Rosen joins Sean and Liz to help answer a listener’s question about whether he should participate in his company’s employee stock purchase plan, also known as an ESPP. He explains what an ESPP is, why it benefits companies to offer one, and tactics for employees to assess whether they should participate in one. The Nerds also talk about the risks involved with participating in an ESPP, how to plan for related taxes, and potential limitations on when employees can trade their stock.

In their conversation, the Nerds discuss: artificial intelligence in travel planning, personalized travel recommendations, AI chatbots, Google Bard, ChatGPT, employee stock purchase plans (ESPPs), financial planning, diversifying investments, travel planning tools, mystery travel, investment strategies, and ESPP tax implications.

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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Discover how alternative investments could help you diversify your portfolio.

Have you ever wondered about the potential of alternative investments in your financial portfolio? NerdWallet’s Andy Rosen sits down with certified financial planner James Lee to uncover the world of untraditional investments, including real estate, commodities, cryptocurrency and collectibles. They discuss a recent survey indicating a shift in financial advisors' perspectives toward alternative investments and unpack the nuances of speculative investing. They also discuss guidelines for incorporating riskier investments into your overall investment portfolio, and they explain the key differences between investing and speculation.

In their conversation, Andy and James discuss: alternative investments, financial planning, investment portfolio diversification, commodities, real estate investing, collectibles, real estate investment trusts or REITs, volatility, asset classes, speculation, long-term financial goals, investment strategies, financial exploration, penny stocks, over-the-counter stocks, cryptocurrency, tax loss harvesting, investment vehicles and financial goals.

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 why a broken appliance doesn’t have to drain your savings, and how to fight financial fears to enjoy your money.

1:13 This Week in Your Money: Should you repair your appliance instead of replacing it? Hosts Sean Pyles and Liz Weston delve into the latest data from Consumer Reports and share handy tips that could end up saving you money and reducing electronic waste. They also discuss the “right to repair” movement and what it could mean for appliance owners in the future.

07:54 Today’s Money Question: Sean talks with Jenna, a 29-year-old listener in St. Louis, about how to overcome her financial fears and start enjoying her money more. They discuss how her upbringing may have led to her feeling the need to exert more control over her spending than she needs to at this stage in her life, and they share ideas for how to let go of some of that control in order to enjoy life more fully. They also delve into different methods of budgeting for hobbies, “lifestyle creep,” and saving for long-term goals like a down payment on a house.

In their conversation, the Nerds discuss: appliance life spans, electronic waste, financial anxieties, budgeting, financial goals, high-yield savings accounts, financial outlook, lifestyle creep, economic mindset, money management, sustainability, financial health, the right to repair movement, spending control, financial stability, hobbies, rewarding yourself, long-term goals, housing market, gardening, overcoming financial anxiety.

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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Explore the risks and rewards of options trading, short selling and margin trading in this nerdy derivatives deep dive.

Hosts Sean Pyles and Andy Rosen explain the concept behind derivatives trading before investing Nerd Sam Taube joins the show for a closer look at the ins and outs of specific types of derivatives. Sam explains the speculative and protective reasons for derivatives trading — and the average retail trader’s chances of finding success.

Sam also delves into put options and call options when it comes to options trading, as well as the relative risks involved with each. He then gets into short sales and the role that shorting plays in the way our financial markets work. The discussion then leads to an examination of margin trading, including what happens when it goes right or wrong for an individual.

In their conversation, the Nerds discuss: derivatives, options trading, short sales, margin trading, the price discovery process of markets, options strategies, risk management, and portfolio diversification.

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 have crucial financial discussions with your aging parents while preserving their dignity and security.

In this Nerdy Book Club episode, personal finance Nerd Kim Palmer talks with journalist Cameron Huddleston about insights from her book “Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances.” In their discussion, Cameron shares her personal journey of stepping up to manage her mother's finances after an Alzheimer's diagnosis and offers guidance on how to have critical discussions about money matters with parents.

Cameron breaks down why it’s important to understand different aspects of your parents’ financial situation, including their income sources, bills, debts and investments. She also provides strategies on initiating difficult financial conversations in a respectful, loving manner and shares how to spot changes in your parents’ financial situation or cognitive abilities. You’ll walk away with tips for timing your conversations and strategies for broaching the subject, even if your parents come from a generation that is typically reluctant to talk to their kids about money.

In their conversation, Kim and Cameron discuss: difficult conversations with parents, financial affairs, legal documents, power of attorney, health care power of attorney, advanced directives, living wills, paying someone else’s bills, debt, navigating parental finances, elderly parents' finances, estate planning, dementia, financial scams and protecting parents from scammers.

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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