NerdWallet's Smart Money Podcast

Magda Doemeny, a certified financial planner from NerdWallet Advisors, shares invaluable budgeting and debt management insights with listener Brinker, who struggles with spending habits and debt. They explore methods for tracking expenses and setting financial goals, while Magda emphasizes the importance of prioritizing debt repayment and creating a sustainable budget. The conversation also touches on Brinker’s childhood financial experiences and how they influence her current money management, making for a relatable and educational session.

Dive into the fascinating world of net worth and discover how to assess and leverage it for financial success. Learn why it's normal to have a low or negative net worth in your 20s and hear unique insights on setting realistic financial goals. A listener shares her journey of saving and aspirations for financial independence. Plus, gain valuable tips from Vivian Tu, who emphasizes the importance of transparent money conversations and side hustles as paths to achieving your dreams. Explore this rich discussion on personal finance and wealth-building.

Amanda Barroso, a NerdWallet credit writer with expertise in policy analysis and journalism, joins the hosts to discuss smart holiday spending and credit recovery. They tackle the dangers of impulsive shopping and advocate for intentional giving. Barroso offers strategies to improve your credit score, including writing goodwill letters and disputing errors. The conversation also highlights how renters can report on-time payments to enhance their credit and the importance of maintaining payment consistency. Packed with practical tips for holiday budgeting!

Discover effective strategies for tackling credit card debt while considering investment options. The hosts dive into how to wisely use a financial windfall, discussing balance transfers and automating payments. Explore the pros and cons of the snowball versus avalanche debt payoff methods. They also weigh the benefits of prioritizing high-interest debt repayment against long-term investments. Listeners learn about balancing financial goals with the desire to enjoy life, making informed decisions tailored to their unique situations.

Michelle Singletary, a personal finance columnist for the Washington Post, joins the conversation to dissect the emotional tactics used by scammers. They tell the heartbreaking story of Judith, a 79-year-old who lost $600,000 to fraudsters. Singletary emphasizes the importance of awareness and empathy in scam prevention. The discussion covers various scam awareness strategies, financial security tips, and the need for continuous financial education. It's a sobering reminder of the fragility of trust and the necessary vigilance in protecting our finances.

In this discussion, investing expert Sam Taube shares insights on maximizing Roth IRA contributions and correcting over-contribution mistakes. Hosts Sean Pyles and Sara Rathner explore 'lazy' money management tactics like automating investments for easy growth. They highlight the importance of year-end contributions and discuss strategies for setting up a backdoor Roth IRA. Listeners learn about income limits, penalties for over-contributing, and smart ways to enhance retirement savings just in time for tax season!

Kate Wood, a housing expert at NerdWallet, shares invaluable insights on homebuying strategies. She unpacks the often-overlooked role of title agencies, offering tips on how to choose the right one and highlighting potential costs. The discussion pivots to the pros and cons of using home equity versus savings to buy a home outright. Tune in for advice on navigating the current housing market, understanding mortgage options, and balancing emotional and financial goals in real estate decisions.

Learn the pros and cons of layaway and Buy Now, Pay Later (BNPL) and how to choose the best option for holiday shopping.What is the difference between layaway and Buy Now, Pay Later (BNPL)? Which payment option is better for holiday shopping? Hosts Sean Pyles and Anna Helhoski discuss these two financing tools, how they work, and which might be the smarter choice for holiday shopping. Lauren Schwahn, a writer at NerdWallet who covers credit, debt, budgeting and money, joins Sean and Anna to break down the basics of layaway and BNPL, highlighting differences in payment timing, access to purchased items, and impact on credit. They also discuss when you’ll receive your item, the repayment timelines, potential fees for missed payments. why BNPL appeals to Gen Z, and how either option can fit into a shopper’s financial strategy. Plus: tips for avoiding pitfalls with BNPL, such as setting payment reminders and avoiding multiple loans. Then, Sean and Anna break down this week’s money headlines, including the latest jobs report, the CFPB’s crackdown on illegal junk fees, and the rise of market timing among investors.There are a lot of ways to invest money — high-yield savings accounts, CDs, bonds, funds and stocks are all options. To learn more, read NerdWallet's writeup on the best ways to invest money right now: https://www.nerdwallet.com/article/investing/the-best-investments-right-now In their conversation, the Nerds discuss: buy now pay later, BNPL pros and cons, layaway vs BNPL, holiday shopping tips, budget-friendly shopping, buy now pay later risks, layaway payment plans, how BNPL works, shopping on a budget, avoiding holiday debt, payment plan comparison, layaway benefits, BNPL for Gen Z, holiday financing tips, budgeting for big purchases, holiday shopping savings, credit impact of BNPL, layaway financing, BNPL fees, installment payment plans, choosing BNPL or layaway, holiday gift financing, Klarna, Afterpay guide, Affirm payment plans, layaway history, BNPL for beginners, managing BNPL loans, credit card vs BNPL, smart financing options, how to use layaway, BNPL payment reminders, financing options for gifts, and understanding BNPL terms.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

Dive into the world of mortgage refinancing and discover when it's best to make the switch. Unpack the details of Home Equity Lines of Credit (HELOCs) and learn how to lock in favorable rates. Explore the impact of recent interest rate changes on your finances and uncover strategies for managing credit card debt, especially during the holiday season. Celebrate achievements like passing the CFP exam while gaining practical tips on aligning your financial decisions with personal goals.

In this discussion, guest Alana Benson, Investing Nerd at NerdWallet, shares her expertise on smart investment strategies and ethical investing. She explains how to effectively diversify an investment portfolio and maximize the use of tax-advantaged accounts like Roth IRAs and 401(k)s. The hosts delve into practical tips for growing $26K to $44K in seven years, highlighting the importance of index funds, managing risk, and setting achievable financial goals. They also address listener questions, providing actionable insights into building a stable investment future.