New Money New Problems Podcast

EPISODE RESOURCES

Mortgage Forbearance 101

Credit Card Assistance

#30MoneyMoves Challenge

Upwork

Navigating Financial Hardships: Practical Tips When Emergency Reserves Run Out

In this episode, we discuss strategies for managing your finances when you've planned ahead but still find yourself running out of money. We share insights from a recent conference and highlights a common challenge faced by many: even those who have thoroughly prepared with substantial emergency reserves are finding their resources depleted after prolonged periods of unemployment or financial strain. The episode provides various actionable tips for alleviating financial pressure, such as communicating with lenders for debt forbearance, utilizing balance transfer credit cards, pausing automatic contributions to investment or retirement accounts, and evaluating subscription services for potential cuts. Additionally, options for income generation through freelancing platforms like Upwork and Fiverr are explored, as well as potential avenues for accessing Roth IRA contributions, 401k loans, and leveraging non-qualified investment accounts through securities-backed lines of credit. 

00:00 Introduction: Facing Financial Challenges
00:46 Personal Reflections and Industry Insights
01:10 Understanding the White Collar Recession
02:19 Emergency Financial Advice: Breaking the Glass
02:36 Caveats and Considerations
04:01 Debt Management Strategies
04:39 Exploring Forbearance Options
06:09 Credit Card Hardship Programs
07:25 Student Loan Relief Options
10:12 Balance Transfer Cards
11:13 Pausing Contributions and Evaluating Subscriptions
14:08 Leveraging Gig Economy Platforms
17:26 Accessing Retirement Funds
19:56 Non-Qualified Investments and Lines of Credit
23:31 Conclusion: Extending Your Burn Rate

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EPISODE RESOURCES

Eligible FSA Expenses

Maximizing Your Flex Spending Account: Overcome Hesitations and Save Money

In this episode, we address common fears and hesitations around signing up for Flex Spending Accounts (FSAs) during open enrollment season. The episode starts by explaining open enrollment and emphasizes the benefits of FSAs, which are often underutilized compared to Health Savings Accounts (HSAs) and Dependent Care FSAs. We dive into the practical uses of FSAs, including eligible health expenses and over-the-counter items. Additionally, we cover how to plan your contributions, manage reimbursements, and navigate plan rules to maximize your tax savings. By the end of the episode, you'll have actionable tips to seamlessly integrate FSA use into your financial planning.

00:00 Introduction to Flex Spending Accounts
00:52 Understanding Open Enrollment
01:27 Focus on Flex Spending Accounts
02:12 Benefits of Health and Dependent FSAs
02:46 Common Concerns About FSAs
03:40 Maximizing Your FSA Benefits
04:36 Eligible FSA Expenses
05:45 Planning Your FSA Contributions
06:53 Using FSA for Regular Purchases
08:23 Employer Rules and Reimbursements

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EPISODE RESOURCES

How To Donate Appreciated Stock

Donor Advised Funds 101

Maximize Your Charitable Contributions: Tax Benefits and Strategies

In this episode, we focus on unique ways to align charitable contributions with tax and investment strategies. Topics discussed include 'bunching' charitable contributions, donating appreciated assets like stocks to avoid capital gains tax, and using donor-advised funds to maximize charitable donations while benefiting from tax deductions. 

00:00 Introduction and Feedback from Last Week
01:25 Charitable Giving and Tax Benefits
02:26 Bunching Charitable Contributions
05:04 Donating Appreciated Property
10:18 Rebalancing Strategy and Charitable Contributions
12:18 Understanding Donor-Advised Funds
14:47 Conclusion and Upcoming Episodes

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EPISODE RESOURCES

NerdWallet Article on Charitable Giving

EPISODE SUMMARY
In this episode, we explore how to set a budget for charitable giving and discuss upcoming updates in 2026 that will make charitable contributions more beneficial for your tax returns. Brenton shares personal experiences from recent financial literacy events and an interview with NerdWallet, focusing on how much to give to charities, especially when religious observances are involved. Listeners are given tips on planning their charitable contributions, considering both religious and non-religious motivations, and aligning them with their overall financial plans. The episode also delves into potential tax implications and benefits, explaining new rules from the 'One Big Beautiful Bill Act' that will impact itemized deductions and above-the-line tax deductions for charitable giving starting in 2026.

00:00 Introduction to Charitable Giving and Tax Benefits
00:49 Personal Insights and Financial Literacy Events
01:22 Determining How Much to Give
02:24 Religious Contributions and Financial Impact
05:21 Creating a Giving Plan
07:18 Tax Components of Charitable Giving
09:54 Changes in Charitable Giving for 2026 and Beyond
14:34 Conclusion and Final Thoughts

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Evaluating the Quality of Financial Information

The Pyramid Of Investments

In this episode, we shares insights on evaluating the quality of financial information you consume. The episode covers the importance of scrutinizing the intent behind financial advice, the credentials of the creators, transparency in promotions, and aligning advice with your financial stage. Real-world examples and interviews with certified financial planners further underline the significance of practical and transparent financial education. Resources and key takeaways are provided to help listeners make more informed financial decisions.

00:45 Personal Updates and Recent Travels
01:44 Insights from Financial Conferences
03:14 Evaluating Financial Content Creators
04:19 Understanding Financial Products and Services
06:55 The Importance of Financial Foundations
09:18 Transparency in Financial Advice
11:35 Experience vs. Real-World Advice
14:23 Interviews with Financial Advisors

Some of Brenton's Favorites

Journey To Launch

Thomas Kopelman

Tate Esquire

Financially Intentional

Jeff Levine

So Money

Brown Ambition

The Budgetnista

Rich & Regular

The Money Guys

James Altucher

The $100 MBA Show

Building Bread

Trade and Travel

Tela Holcomb

The Happy Investor Method

Investing Uncomplicated

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RSVP for the Financial Literacy Symposium

Federal Student Loan Updates

In this episode of New Money, New Problems, the discussion focuses on why late summer and early fall are the optimal times to review your finances. The host, fresh from professional commitments and heading to various financial events, highlights the benefits of reviewing financial matters during September and October. Key reasons specific to this year include the impending federal student loan consolidation deadlines and potential changes in interest rates driven by economic indicators like jobs reports. General reasons span tax planning, end-of-year employer benefits decisions, and holiday budgeting strategies. The episode emphasizes the importance of preemptive financial reviews and offers practical tips to optimize financial health before year-end.


01:41 Why September and October are Crucial for Financial Reviews
02:29 Federal Student Loans: Urgent Deadlines and Actions
03:55 Economic Indicators and Their Impact on Your Finances
07:18 Tax Planning: Strategies for the End of the Year
13:59 Maximizing Employee Benefits and Open Enrollment
15:36 Holiday Season: Budgeting and Financial Tips

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In this special 150th episode of the New Money, New Problems podcast, we reflect on the journey so far and the lessons learned from both the audience and personal experiences. 

In the first half, we focus on the feedback from listeners, the common issue of financial stress regardless of income level and the critical need for effective communication about finances among partners and family members. 

We also highlight the importance of understanding financial options over rigid rules and provides insights into the process behind financial journalism. 

In the second half, Brenton shares personal lessons from creating the podcast, stressing the value of consistency, starting without perfection, and being open to constructive criticism to facilitate growth and improvement. The episode aims to provide valuable takeaways for listeners to apply to their financial and personal lives.

01:43 Listener Insights on Financial Stress
03:20 Communication and Financial Harmony
06:22 The Value of Personalized Financial Advice
08:28 Behind the Scenes of Financial Publications
10:43 Foundational Financial Topics
13:26 Personal Lessons from Podcasting
16:31 Commitment to Improvement and Future Plans

POPULAR EPISODES FROM THE FIRST 150

Why Holidays Aren't Great for Family Money Talks

STILL Living Paycheck to Paycheck on $250,000

Why New Money Leads To New Problems

What Does It Mean When You're Behind In Retirement Planning?

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In this episode, we revisit the inspiring story of Courtney Hale, a man who has transformed trials into triumphant journeys. 

This episode highlights Courtney and his daughter Ever's resilience as they navigate life's challenges, including the loss of Courtney's wife, Tia, and Ever's ongoing battle with sickle cell. 

Courtney, known for his work as the Chief Hope Dealer at Super Money Kids, shares the evolution of his career, the hardships he faced, and the joy that's fueled his journey forward. The episode also delves into insights about family, love, and making meaningful financial choices. As a tribute to Courtney and Ever, the host encourages listeners to send their love and support before Ever's bone marrow transplant, for which Courtney is the donor. You can find more about their journey in the show notes.

Ever's Announcement

Follow Courtney's Work

00:28 Courtney Background and Personal Story
02:43 Courtney's Professional Journey and Financial Literacy Work
07:12 Challenges and Triumphs in Personal Life
23:11 Reflections on Life, Work, and Financial Habits

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In this week's episode, we delve into strategies for preparing your finances against potential job loss, economic downturn, or financial emergencies. 

The episode emphasizes the importance of establishing emergency reserves, describing optimal savings amounts based on different household scenarios and employment stability. 

It also explores tools and tactics for repositioning debts, utilizing flexible employee benefits, and diversifying investments, especially for those with company stock or equity compensation. 

Practical advice includes adjusting retirement contributions and withholdings to better balance financial preparedness. The episode also references an article featuring the host's insights on the significance of emergency savings for retirement planning. 

Check out the MarketWatch article where Brenton was interviewed!

02:37 Understanding Emergency Reserves
05:22 Layering Your Savings
09:13 Repositioning Debts for Stability
13:50 Managing Equity Compensation
15:28 Optimizing Employee Benefits
16:57 Retirement Accounts and Emergency Planning

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In this episode, Brenton Harrison reflects on a past podcast episode from 2022 that discussed the challenge of living paycheck to paycheck even with a high income. Revisiting the topic, he shares additional insights he's gained over the past three years. 

This episode covers reasons why high-income earners may still struggle financially, strategies to establish a financial foundation, and personal experiences and lessons learned. 

Key actionable steps include stopping retirement contributions temporarily, halting extra debt payments, evaluating subscription services, and reducing lifestyle expenses. He also emphasizes the importance of staying marketable, prioritizing small financial goals, and avoiding comparisons with others to maintain financial health.


00:45 Revisiting a 2022 Episode
02:19 High Income, Paycheck to Paycheck
05:04 Understanding Financial Struggles
09:45 Immediate Steps to Build Savings
16:27 Additional Insights from 2025
16:54 Personal Experiences and Advice
21:58 Staying Marketable and Setting Goals
24:11 Looking Ahead

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