Live Financial Planning Session: Expert Budgeting and Spending Tips

Dec 30, 2024

Guest

Magda Doemeny

Guest

Brinker

Magda Doemeny, a certified financial planner from NerdWallet Advisors, shares invaluable budgeting and debt management insights with listener Brinker, who struggles with spending habits and debt. They explore methods for tracking expenses and setting financial goals, while Magda emphasizes the importance of prioritizing debt repayment and creating a sustainable budget. The conversation also touches on Brinker’s childhood financial experiences and how they influence her current money management, making for a relatable and educational session.

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Chapters

Transcript

Episode notes

Intro

00:00 • 3min

Affordable Financial Planning and Listener Engagement

03:28 • 2min

Money, Family, and Personal Growth

05:57 • 4min

Navigating Housing Costs and Debt Challenges

10:09 • 2min

Navigating Financial Challenges

11:50 • 13min

Conquering Debt: Strategies for Success

25:09 • 7min

Navigating Financial Goals with NerdWallet's Guidance

32:21 • 4min

Hear an actual financial planning session where a CFP advises a listener on transforming her budget and spending habits.

Magda Doemeny, a certified financial planner from the NerdWallet Advisors platform, gives a listener specific advice to improve their finances (advice given on behalf of Nerdwallet Advisors, not NerdWallet). Brinker, the listener, is struggling with spending habits that she calls “irresponsible” and how to manage some of her debt. She discusses her upbringing, financial challenges, and goals while Magda offers insights and strategies to help her improve her finances. The episode delves into methods for tracking spending habits, setting financial goals, and developing better money management practices to achieve financial stability. Magda also guides Brinker on creating a budget, prioritizing debt repayment, and implementing behavioral changes to curb impulsive spending.

As mentioned by Sean, here is NerdWallet’s list of the best high-yield savings accounts: https://www.nerdwallet.com/best/banking/high-yield-online-savings-accounts

NerdWallet Advisory LLC (dba NerdWallet Advisors) is an SEC-registered investment advisor, and wholly owned subsidiary of NerdWallet, Inc. The advice provided in this episode of Smart Money was for illustrative purposes only and not intended as financial or investment advice specific to your personal facts or circumstances.

In their conversation, the Nerds discuss: financial planning session, budgeting, debt management, savings, spending habits, financial goals, high yield savings accounts, ways to curb spending habits, financial planning session, how to manage debt effectively, strategies for paying off credit card debt, how to curb spending, budgeting apps, Uber Eats, Uber habits, splurging, what it’s like working with a financial advisor, impulse buying, lifestyle creep, money mindset, spending habits, financial goals, and actionable financial strategies.

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com.

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