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.