NerdWallet's Smart Money Podcast

Learn when a refi saves money and how target-date funds work, including fees and when to pick a later fund year. What exactly is a target-date fund, and when should you move your date? How do you know if now is a good time to refinance a house? Hosts Sean Pyles and Elizabeth Ayoola discuss mortgage refinancing and target-date funds to help you understand how to quantify savings on a refi and how to set (and adjust) an age-appropriate retirement glide path. To kick off the episode, NerdWallet senior news writer Anna Helhoski joins with mortgages and student loans writer Kate Wood and mortgage reporter Holden Lewis to break down why refis are spiking even without fresh Federal Reserve cuts, who’s most likely to benefit right now, and how markets (not just the Fed) drive daily mortgage rate moves. They begin with a discussion of rate-and-term vs. cash-out refinancing, with tips and tricks on calculating your breakeven point, using the ~0.75 percentage-point rule-of-thumb for potential savings, and factoring in 2% to 6% closing costs and how long you’ll stay put. Then, investing Nerd June Sham joins Sean and Elizabeth to discuss target-date funds. They discuss how glide paths work (to vs. through retirement), when to push your target year if you’ll work longer, and how fees compare with index funds/ETFs, plus contribution frameworks (10% to 15% of income vs. the “80% replacement” rule) and why many hands-off investors value auto-rebalancing despite higher expense ratios. A listener case study (age 35, 2055 fund) highlights how to revisit your target date in the decade before retirement, how to read a fund’s glide path, and why staying invested and consistent often matters more than chasing perfect timing. Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header In this episode, the Nerds discuss: mortgage refinance, refinance calculator, mortgage rates today, breakeven point refinance, cash-out refinance, HELOC vs cash-out, refinance closing costs, when to refinance, refinance vs home equity loan, bond market and mortgage rates, Federal Reserve and mortgage rates, target-date fund, best target-date funds, target-date fund glide path, to vs through glide path, 401k target-date fund, change target-date fund year, 2055 target-date fund, target-date fund fees, expense ratio comparison, ETF vs mutual fund, index funds S&P 500, retirement contribution 10 to 15 percent, 80 percent income replacement rule, taxable brokerage vs 401k, annuity vs staying invested, debt consolidation with home equity, credit card APR vs mortgage rate, divorce refinance requirements, stay-or-sell breakeven analysis, and refinance eligibility 2025. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Find out when it’s worth splurging on kitchen gear and how to switch banks without losing your financial footing. What kitchen tools are actually worth the money? Is switching to an online bank really worth the hassle? Hosts Sean Pyles and Elizabeth Ayoola discuss the value of investing in high-quality kitchen gear and what to consider when moving your money to an online bank so you can make smarter, more intentional financial choices. They begin by speaking with Michele Norris, host of the podcast Your Mama’s Kitchen. She explains how you can align your purchases with your cooking habits — without falling for social media hype. Plus, they discuss how to think about home kitchen upgrades, including tips and tricks on choosing the right knife or stove, knowing when to skip premium brands, and avoiding aesthetic-driven purchases that don’t match your lifestyle.  Then, NerdWallet consumer banking editor Ruth Sarreal joins Sean and Elizabeth to discuss how to evaluate whether switching banks makes sense. They explore how to compare rates and fees, keep your auto-payments organized, and transition smoothly without damaging your credit or missing a bill. NerdWallet’s roundup of the best online checking accounts: https://www.nerdwallet.com/best/banking/online-checking-accounts  In their conversation, the Nerds discuss: high yield savings account, switching banks, best kitchen appliances to buy, online-only banks, SoFi checking account, bank account switching process, best knives for home cooks, Vitamix vs Ninja blender, Le Creuset alternatives, when to splurge on appliances, budgeting for kitchen upgrades, online banks vs traditional banks, how to switch banks, ATM access with online banks, pros and cons of online banks, choosing a stove, best air fryer to buy, kitchen appliances worth the money, countertop appliances, instant pot storage, what to look for in a blender, managing multiple bank accounts, best checking accounts, how to avoid bank fees, how to transfer auto-payments, comparing bank APYs, personal finance for home cooks, financial planning for kitchen purchases, emotional value of kitchen gear, and sentimental kitchen items. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Discuss the financial pitfalls and must-have conversations that couples should tackle before moving in together. Explore the rising costs of coffee and tea, influenced by climate change and tariffs. Understand the complexities of the coffee market and how shifting supply chains are affecting prices. Get tips on splitting expenses, maintaining personal emergency funds, and aligning financial goals with your partner. Learn how to navigate potential conflicts and ensure transparency for a harmonious financial future.

Learn about banking blacklists and how to decide when sign-up bonuses are worth your time and money. Why might you get denied when trying to open a new bank account online, even if all your information is correct? When are bank account sign-up bonuses really worth pursuing? Hosts Sean Pyles and Elizabeth Ayoola explain how banks verify identities, what can cause account applications to fail, and how seasonal spending habits affect financial planning to help you better manage your cash flow and set realistic expectations. But first, they kick off the episode by discussing how summer expenses like weddings, vacations, utility bills, and back-to-school shopping can disrupt budgets, and how to prepare emotionally and financially for an expensive fall. Then, NerdWallet banking writer Margaret Burnett joins Sean and Elizabeth to discuss why banks sometimes block new account applications and how to navigate “banking blacklists.” She helps answer a listener’s question about repeated online account denials, and together they walk through how verification systems work, what ChexSystems and Early Warning Services track, and how to clean up your record. They also break down when bank account sign-up bonuses are worth it, what fine print to watch for, and how to balance rewards with potential risks. Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header Best Bank Bonuses and Promotions of August 2025 (up to $3,000) https://www.nerdwallet.com/best/banking/best-bank-bonuses-and-promotions  What to Do if You’re Listed in ChexSystems https://www.nerdwallet.com/article/banking/steps-to-clear-up-your-chexsystems-record Blocked From Getting a Bank Account? Learn About ChexSystems https://www.nerdwallet.com/article/banking/blocked-by-chexsystems-what-to-know Banks That Don’t Use — or Will Look Past — ChexSystems https://www.nerdwallet.com/article/banking/banks-that-dont-use-or-will-look-past-chexsystems  Second Chance Checking Accounts Across the U.S. https://www.nerdwallet.com/article/banking/second-chance-checking  In their conversation, the Nerds discuss: bank account denied online, banking blacklist, ChexSystems, early warning services, bank sign-up bonus, bank bonuses, high yield savings account, verifying identity for bank account, blocked by bank, open bank account online problems, how to dispute ChexSystems, early warning services report, how to get off ChexSystems, bank fraud prevention systems, denied checking account, high risk banking customer, banking verification system, online bank application failed, identity mismatch bank account, checking account promotions, sign-up bonus fine print, taxable bank bonuses, 1099 bank bonus, avoiding bank account fees, managing multiple bank accounts, best banks for sign-up offers, credit union account opening, how to open checking account, banks that don’t use ChexSystems, new bank account requirements, and bank promotions 2025. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nerds debut a new Budget Rehab segment, dissecting a real family’s budget to reveal strategies for saving more, investing smarter, and managing lifestyle costs. Plus: tariffs’ role in rising auto insurance. Why are auto insurance premiums continuing to climb, and what do tariffs have to do with it? How can a real family adjust their budget to meet their financial goals? Hosts Sean Pyles and Elizabeth Ayoola debut a new Budget Rehab segment, where they take a hands-on approach to evaluating a listener’s finances. But first, they’re joined by senior news writer Anna Helhoski and insurance Nerd Andrew Hurst to unpack the forces driving auto insurance costs higher in 2025. They discuss how tariffs on imported parts, inflation, and more expensive claims are putting pressure on premiums—and what drivers can do to find competitive rates in a shifting insurance market. Then Sean and Elizabeth are joined by Garrett, a listener who receives the first “Budget Rehab” on Smart Money. They walk through his family’s finances step by step, from a stretched grocery bill and drained emergency fund to the challenges of saving while raising a young child. The conversation covers how Garrett and his wife can rebuild their financial cushion after buying a new car, prepare for the possibility of living on one income, and expand retirement savings through tools like IRAs and solo 401(k)s. Along the way, they highlight practical strategies for balancing wants and needs while still leaving room for joy in the family budget. Inspired to navigate your finances with an advisor? Use NerdWallet Advisors Match to find vetted professionals today at https://www.nerdwalletadvisors.com/match  NerdWallet Wealth Partners is a fiduciary online financial advisor, offering low-cost, comprehensive financial advice and investment management: https://nerdwalletwealthpartners.com/  Rates for auto and homeowners insurance have been on the rise. NerdWallet's here to help consumers navigate those changes: https://www.nerdwallet.com/insurance/data#auto-insurance  Use NerdWallet’s free retirement calculator to check your progress, see how much retirement income you'll have and estimate how much more you should save: https://www.nerdwallet.com/calculator/retirement-calculator Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header In their conversation, the Nerds discuss: budget rehab, household budget planning, how to use 50/30/20 budget, family budget with one income, rebuild emergency fund, self-employed budgeting tips, budgeting for stay at home parents, budgeting for a baby, how to save on groceries, Costco vs Trader Joe’s groceries, reducing travel expenses, retirement savings for self-employed, IRA contribution limits, rising auto insurance costs 2025, auto insurance tariffs, car insurance premiums 2025, supply chain car parts, reinsurance premiums, weather-related claims auto insurance, social inflation insurance, state auto insurance increases, and comparing car insurance rates. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Join Dan Weissmann, host of NPR's An Arm and a Leg, and Kate Ashford, personal finance Nerd, as they tackle the challenge of rising prescription costs and the impact of potential health insurance changes. Discover practical tips for comparing pharmacy prices and utilizing discount programs like GoodRx. The duo also explores how expiring tax credits from the ACA could affect premiums, urging listeners to prepare for open enrollment while highlighting the risks of going uninsured. It's an insightful discussion packed with valuable strategies to navigate the healthcare landscape!

Exploring the pros and cons of using home equity to erase debt, the hosts discuss a listener's dilemma about selling their house while juggling a $55,000 debt load. They delve into crucial financial trade-offs and the potential long-term effects of such a decision. Additionally, insights on navigating back-to-school spending highlight rising costs and practical money-saving strategies. Personal stories about financial planning underscore the need for informed decisions amid fluctuating markets and emotional pressures.

Dana Miranda, an unconventional personal finance author, and James Bashall, a financial advisor with NerdWallet Wealth Partners, discuss the pitfalls of adhering to rigid budgeting rules. Dana argues for personalized spending methods and sees emergency funds as opportunities rather than safety nets. James shares insights into various financial advisor fees, helping listeners understand the value and implications of paying for financial advice. Together, they challenge traditional finance norms, emphasizing tailored solutions over one-size-fits-all approaches.

In this engaging discussion, Anna Helhoski, a NerdWallet news writer, and credit card expert Melissa Lambarena provide keen insights into the current economic landscape. They analyze how new U.S. tariffs might inflate everyday goods and car prices. From the latest job reports to inflation trends, they illuminate the broader economic implications. Melissa also explores whether high-fee premium credit cards are worthwhile, offering strategies on downgrading or keeping them, as well as understanding the impact on credit scores.

A listener navigates his new high-paying job, contemplating the best strategies for managing his Roth IRA and savings accounts. The hosts tackle whether a Roth IRA can function like a savings account while prioritizing savings, debt, and retirement. They also examine the risks associated with Buy Now, Pay Later loans and emphasize the importance of informed financial decisions. Listeners learn to balance multiple savings goals and optimize their finances, avoiding analysis paralysis in the process.