NerdWallet's Smart Money Podcast

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.

In this engaging discussion, Rohit Chopra, former director of the Consumer Financial Protection Bureau, sheds light on how medical debt impacts credit scores and the recent legal changes affecting borrowers. He emphasizes the importance of consumer protection and shares practical tips for managing medical debt. Later, housing expert Kate Wood discusses smart saving strategies for first-time homebuyers, debunking the 20% down payment myth and highlighting the necessity of understanding closing costs and down payment assistance programs. Get ready to rethink your financial approach!

Scramble Hughes, a talented circus performer and acrobat, shares a gripping tale of identity theft involving credit card fraud. Listeners learn vital strategies for recognizing scams and responding swiftly to protect their finances. The discussion extends to comparing robo-advisors to traditional brokerage accounts, exploring the associated risks and protections. Insights about choosing the right investment platform and the importance of emotional resilience during financial mishaps make this an engaging and informative listen.

In this discussion, Kate Wood, NerdWallet's home expert, shares valuable insights on the fluctuating housing market. She reveals whether now is a smart time to buy property or if waiting may yield better results. The conversation dives into rising mortgage rates and the shifting landscape of U.S. cities. Additionally, tips abound for empowering teens to build responsible credit habits. Strategies for transitioning from student life to financial independence and encouraging long-term wealth are explored, making this a must-listen for savvy parents.

In this engaging discussion, Sam Taube, an Investing Nerd at NerdWallet, shares his insights on savings bonds and investment strategies. He breaks down different types of bonds, including Series EE and I Bonds, and highlights their tax implications. The talk also explores whether these bonds are worthwhile for long-term investments, particularly for children's education. Additionally, the hosts offer valuable tips on budgeting for group travel, emphasizing communication and financial boundaries to create memorable experiences.