Life Kit: Money

Arzu Resvani, a personal finance and housing expert at NPR, shares insights on transforming your savings strategy. She discusses the pitfalls of typical low-interest savings accounts and reveals high-yield alternatives like I-bonds and online banks. Listeners learn to evaluate their interest rates against inflation and explore strategies such as CD ladders and maximizing returns. With practical advice on choosing the right account, this conversation empowers listeners to make informed financial decisions and safeguard their money.

Ideas on how to have fun this summer without breaking the bank. Go on a "penny date." Throw a movie marathon party. Swap houses with a friend. With a little imagination, you can bring delight and joy — at a low cost — into your sunny days ahead. This episode originally aired August 1st, 2023.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

Delve into the intricacies of credit cards and discover how they can impact your financial health. Learn the importance of timely payments for boosting your credit score and explore the potential pitfalls like high APRs and hidden fees. Get practical tips on managing credit card features, distinguishing between balances, and strategizing to avoid debt. Finally, uncover ways to maximize card benefits tailored to your spending habits for a smarter financial future.

Beth Monsell, founder of BudgetBytes.com, shares her expertise on saving money while shopping for groceries. She dives into the art of meal costing, helping listeners understand ingredient prices for budget-friendly meals. Beth offers smart cooking tips like creative substitutions and stress-free meal planning with low-cost staples. She highlights the importance of minimizing waste and suggests strategic shopping methods to avoid impulse buys. Plus, she discusses the valuable role of food banks in supporting those in need.

Lauryn Williams, a certified financial planner and Olympic gold medalist, shares her expertise on navigating finances during tariff uncertainties. She emphasizes the importance of maintaining mental well-being alongside financial health. Strategies for managing spending, establishing an emergency fund, and avoiding scams are discussed. Williams also highlights the impact of tariffs on consumer behavior and advocates for careful purchasing decisions. Join her for practical tips to stay financially secure in a volatile economy.

Molly Grace, a mortgage reporter for Business Insider, shares her expertise on navigating the complex world of home buying. She highlights how to determine if you're financially ready and the key costs to budget for. Discover the importance of home inspections and the nuances of various mortgage options. Molly also addresses the benefits and challenges of homeownership, encouraging listeners to consider their personal situations and lifestyle changes before diving in. This insightful conversation demystifies the path to owning a home.

Discover the fascinating world of bartering, where skills and services become the currency of community. Hear a personal story from an Alaskan village that highlights cultural traditions and the significance of skilled trades. Learn how modern bartering can ease budgeting woes while fostering connections, as shared through lively anecdotes and community events. Get practical tips on suggesting trades and making exchanges feel fair, nurturing both your wallet and local relationships.

Discover essential practices for financial self-care that go beyond simple budgeting. Learn how regular assessments of both your finances and mental health can relieve stress. Emphasize celebrating small wins and envisioning your personal success without financial constraints. Establish a comprehensive routine that includes checking credit reports, preparing taxes, and monitoring investments. Transform your financial health into a holistic self-care practice!

Many Americans are feeling nervous about the stock market's recent downturns. Experts advise against knee-jerk reactions like selling. Instead, they emphasize the importance of staying calm and sticking to long-term strategies. The psychological effects of financial losses can be daunting, but viewing downturns as potential opportunities can lead to growth. Establishing an emergency savings fund and managing debt are also vital for financial peace of mind. Remember, patience pays off in the world of investing.

Hana Boruchov, a tax attorney and partner at Borakov, Gabovich & Associates PC, dives into essential tax tips for the upcoming 2025 season. She discusses whether to hire an accountant or utilize software, stressing the importance of professional help for freelancers. The episode also covers how to manage tax debt and options if you can't pay your bill. Additionally, Hana provides insights on filing taxes as a remote worker and shares what to consider when choosing a tax professional.