NerdWallet's Smart Money Podcast Online Banking vs Neobanks: Understand FDIC Safety and Protect Your Money
Nov 18, 2024
Spencer Tierney, a banking expert at NerdWallet with nearly a decade of experience, dives into the complexities of online banking and neobanks. He clarifies the crucial differences between traditional banks and neobanks, emphasizing FDIC insurance's role in safeguarding deposits. The conversation highlights recent vulnerabilities in the neobanking sector, particularly in light of Synapse's bankruptcy, raising awareness about potential risks and protections for consumers. Also discussed are practical tips for affordable holiday hosting, linking festive spending to overall financial health.
AI Snips
Chapters
Transcript
Episode notes
Potluck Hosting
- Host potlucks to share the cost and labor of holiday meals.
- Ask guests to contribute dishes or help with tasks.
Managing Overnight Guests
- Budget for extra food for overnight guests, especially teenagers.
- Set boundaries on how long guests can stay.
Credit Card Rewards
- Use credit cards with rewards for holiday spending to earn cash back or travel points.
- Prioritize paying off existing credit card debt to maximize rewards.