NerdWallet’s objective finance journalists answer real-world questions empowering you to make smarter decisions with your money and help your finances thrive.
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Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
Learn how to assess your net worth, compare it wisely, and build a financial strategy to meet your long-term goals.
What is net worth, and how do you calculate it? How can you use it as a tool to set realistic financial goals? Hosts Sean Pyles and Sara Rathner discuss how to define and calculate net worth, why it’s normal to have a low or negative net worth in your 20s, and how it evolves over time. They begin with a discussion of why net worth matters, with tips and tricks on assessing your current assets and liabilities, identifying realistic financial benchmarks, and staying focused on personal goals instead of comparisons.
Charlene, a listener from Texas, joins Sean and Sara to discuss comparing net worth to peers and using it as a motivational tool. They discuss how benchmarks vary by age and location, the difference between averages and medians, and practical ways to build wealth through strategic saving, retirement planning and investments. Charlene also shares her disciplined approach to saving and her aspirations for financial independence and an early retirement, and how net worth relates to her progress towards achieving her goals. Sean and Sara address the concept of net worth beyond just 401(k) balances and the potential pressure of societal expectations on financial milestones, with information that could serve as a guide for listeners aiming for similar goals.
Then, podcaster, social media influencer, and author Vivian Tu, also known as "Your Rich BFF," joins Sean to discuss wealth-building through passive income and active career decisions. They discuss the importance of making your money work for you, the psychological barriers to seeking higher income, and the significance of securing a meaningful raise or position shift every two years. She shares her insights on transitioning from Wall Street to digital media, democratizing financial knowledge, and cultivating a mindset for wealth accumulation.
Average net worth by age: how do you compare? https://www.nerdwallet.com/article/finance/average-net-worth-by-age
In their conversation, the Nerds discuss: net worth calculator, how to calculate net worth, financial goals, comparing net worth, personal finance tips, saving for retirement, building wealth, assets and liabilities, financial health, financial planning, budgeting, emergency fund, retirement accounts, 401k savings, net worth benchmarks, wealth management, financial independence, passive income strategies, high-yield savings accounts, investment accounts, debt payoff, early retirement, net worth by location, financial comparisons, money mindset, wealth accumulation, understanding net worth, financial success, personal finances in your 20s, financial security, how to save money, financial tools, paying off loans, money management, financial literacy, personal savings, and long-term financial planning.
To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected].
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33:43
Deck the Bills: Smart Spending and Credit Tips for the Holidays
Learn how to avoid holiday shopping pitfalls and quickly improve your credit, with ideas for restoring your credit.
How can you avoid overspending during the holidays? How can you can help your credit score recover after missed payments? Can rental payments be reflected on your credit reports? Hosts Sean Pyles and Sara Rathner discuss optimizing your financial habits during the holiday season and overcoming credit mishaps that could show up on your credit report. They begin with a discussion of impulsive holiday shopping, providing tips for intentional spending, minimizing waste, and prioritizing experiential gifts over material items. Then, NerdWallet credit writer Amanda Barroso joins Sean and Sara to discuss actionable strategies to help your credit score recover, including writing goodwill letters, disputing errors with credit bureaus, and improving payment consistency. They also explain how renters can report on-time payments to credit bureaus with free and low-cost services, tools like Experian Boost, and the importance of credit freezes for families.
Missed a payment? Try writing a goodwill letter to remove it from your credit report. Here’s NerdWallet’s article on how to do it, along with a sample goodwill letter: https://www.nerdwallet.com/article/finance/goodwill-letter
How to dispute credit report errors: https://www.nerdwallet.com/article/finance/dispute-credit-report
Real ways to improve your credit fast: https://www.nerdwallet.com/article/finance/raise-credit-score-fast
NerdWallet’s guide to rent-reporting services: https://www.nerdwallet.com/article/finance/rent-reporting-services
Here is a downloadable letter you can print and complete to send to TransUnion to request that they freeze your child’s credit: https://www.nerdwallet.com/assets/blog/wp-content/uploads/2019/09/TransUnion_credit-freeze_fill.pdf
In their conversation, the Nerds discuss: how to improve credit scores, rent payment credit reporting, credit utilization, goodwill letter for credit report, holiday shopping tips, sustainable holiday spending, credit freeze for children, building credit with rent, free rent reporting services, how to dispute credit report errors, intentional spending habits, credit reporting tools, credit repair strategies, holiday budget tips, protecting your credit, identity theft prevention, actionable credit repair tips, credit myths busted, low-cost credit building tools, affordable rent reporting options, and the child credit freeze process.
To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected].
Like what you hear? Please leave us a review and tell a friend.
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31:21
Crush Debt or Grow Investments? How to Make the Best Choice for You
Learn how to tackle credit card debt, build savings, and decide between debt payoff and investing for financial growth.
How can you pay off credit card debt faster and smarter? When should you prioritize paying off debt over investing your money? Hosts Sean Pyles and Sara Rathner discuss credit card payoff strategies and building an emergency fund to help you strengthen your financial security. They begin by talking to Adam, a Smart Money listener, who has questions about what to do with a windfall. They discuss options for paying down high-interest credit card debt, with tips and tricks on using balance transfers wisely, automating payments and reducing financial stress. They also discuss whether to prioritize debt payoff, fund investments or save for other financial goals — before getting into strategies for balancing long-term retirement planning, managing 0% APR debt effectively, and enjoying life without derailing financial progress.
Then, host Elizabeth Ayoola and NerdWallet debt writer Tiffany Curtis join Sean to answer a listener’s question about loan payoff strategies while deciding when it’s better to focus on investing versus debt repayment. They explore the pros and cons of the snowball and avalanche debt payoff methods, how to calculate returns from paying down debt versus investing, and strategies for multitasking financial goals to build a stronger financial future.
In their conversation, the Nerds discuss: paying off credit card debt, prioritize debt or investing, snowball vs avalanche method, balance transfer tips, high-interest credit cards, emergency fund savings, how to pay off debt, investing vs paying debt, debt payoff strategies, personal finance tips, managing debt, 0% APR credit card, financial windfall tips, credit card debt help, debt-free planning, emergency fund tips, investing basics, save for retirement, Roth IRA strategies, 457 retirement plan, credit card payoff calculator, budgeting for savings, automating finances, debt-free goals, financial security tips, financial planning for families, saving for college, 529 plan benefits, high-yield savings accounts, avoiding credit card interest, tips for financial independence, and when to invest.
To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected].
Like what you hear? Please leave us a review and tell a friend.
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25:33
Swindled or Safe? Improve Your Scam Awareness and Protect Your Finances
Learn how financial scammers exploit emotions and how you can protect your finances from their latest tactics.
How can you protect your money from online scams? What steps can you take to safeguard yourself from financial deception? Hosts Sean Pyles and Anna Helhoski delve into the harrowing tale of Judith, a 79-year-old who fell victim to a sophisticated scam that led to the loss of nearly $600,000. Joined by Michelle Singletary, a personal finance columnist for the Washington Post, they unravel the tactics scammers use to prey on emotions and trust, emphasizing the importance of awareness and empathy in scam prevention.
Then, Sean and Anna break down recent financial headlines, including updates on the Federal Reserve's interest rate decisions, the Consumer Financial Protection Bureau's new rule on overdraft fees, and the halted merger between Albertsons and Kroger.
We're off next week, but you can follow our latest coverage on NerdWallet's financial news hub: https://www.nerdwallet.com/h/news/financial-news
In their conversation, the Nerds discuss: scam prevention, online scams, phone scams, scam awareness, financial fraud, scammer tactics, protecting your savings, scam victims, scammer manipulation, scam warning signs, elderly scam victims, scam support, scam protection tips, FBI impersonation scam, financial security, bank manager intervention, scam victim recovery, fraud prevention, scam prevention strategies, protecting retirement savings, scam red flags, scam recovery, scam education, online fraud, scam prevention awareness, and scam victim advocacy.
To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected].
Like what you hear? Please leave us a review and tell a friend.
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23:16
End-of-Year IRA Fixes Before Tax Time: Roth Contribution and Correction Strategies
Discover how to embrace “lazy” money management, maximize Roth IRA contributions and fix over-contribution mistakes.
How can you passively grow your money? What should you do if you over-contribute to a Roth IRA? Hosts Sean Pyles and Sara Rathner discuss lazy money-management strategies and Roth IRA over-contribution fixes to help you stay on top of your finances with minimal effort. They begin with a discussion of "lazy" personal finance tips, with actionable advice on automating investments, leveraging savings buckets, and using target-date funds for hands-off financial growth.
Then, investing expert Sam Taube joins Sara and co-host Elizabeth Ayoola to discuss managing Roth IRA contributions, especially for those who may have over-contributed. They explore strategies to fix over-contributions, steps for setting up a backdoor Roth IRA, and how to maximize retirement contributions before tax deadlines.
Find your next Roth IRA account on our Investing Nerds’ list of the best Roth IRA accounts: https://www.nerdwallet.com/best/investing/roth-ira-accounts
See how your savings and investment account balances can grow with NerdWallet’s free compound interest calculator: https://www.nerdwallet.com/calculator/compound-interest-calculator
Here is the IRS’ guide on the amount of Roth IRA contributions that you can make for 2024: https://www.irs.gov/retirement-plans/plan-participant-employee/amount-of-roth-ira-contributions-that-you-can-make-for-2024
In their conversation, the Nerds discuss: lazy money management, Roth IRA over-contribution, backdoor Roth IRA, automating investments, savings buckets, target-date funds, passive investing, retirement contributions, dollar-cost averaging, financial autopilot, how to fix Roth IRA over-contributions, Roth IRA contribution limit, personal finance podcast, investment mistakes, investing for beginners, retirement planning, retirement savings, tax penalties on Roth IRAs, how to manage finances, savings accounts strategy, budgeting tips, financial organization, avoiding Roth IRA penalties, fixing retirement account errors, best investment strategies, personal finance tips, financial independence, smart money management, lazy ways to save money, easy investment strategies, financial automation, retirement fund mistakes, high-yield savings accounts, joint accounts vs individual accounts, managing childcare expenses, CFP financial advice, IRA custodians, tax filing tips, maximizing retirement contributions, financial stress relief.
To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected].
Like what you hear? Please leave us a review and tell a friend.
NerdWallet’s objective finance journalists answer real-world questions empowering you to make smarter decisions with your money and help your finances thrive.
The Nerds are your resource to make the most of your personal finances, while cutting through the clutter and misinformation of today’s economic news and advice. You’ll get clarity on strategies to help you build your wealth, invest wisely, shop for financial products, and plan for major life events.
By the end of each episode, you’ll feel smarter and more informed to make the most of your finances. Future You will thank you.
Join hosts Sean Pyles, Sara Rathner, and other expert Nerds as they discuss everything personal finance, including:
- Credit cards: credit card rewards, different types of credit cards, credit card annual fees
- Investing and retirement: investment strategies, retirement planning, financial independence, investing in the stock market, money market accounts, financial strategies, mutual funds, short-term bonds, exchange-traded funds (ETFs), Roth IRA investing, robo-advisors, retirement savings
- Personal finance: budgeting methods, emergency funds, paying off debt, frugal living, money management tips, wealth accumulation, money habits, cultivating a money growth mindset, debt-free living, financial resources, budgeting apps and browser extensions, avoiding scams, tax bills, financial success and financial stability
- Banking: high-yield saving accounts, online banking, credit unions
- Loans: student loans, home equity loans, HELOC, student loan forgiveness
- Home: mortgage interest rates, homebuying, home improvement projects, homeowners insurance
- Insurance: travel insurance, pet insurance, auto insurance, home insurance
You’ll love NerdWallet’s Smart Money Podcast if you like podcasts like Planet Money, The Personal Finance Podcast, DIY Money, Afford Anything, How to Money, The Ramsey Show, Money Rehab with Nicole Lapin, NPR’s Life Kit: Money, Popcorn Finance, Money Girl, Everyone’s Talkin’ Money, So Money with Farnoosh Tarabi, The Money with Katie Show, All the Hacks with Chris Hutchins, The Stacking Benjamins Show, MoneyWatch with Jill Schlesinger, or Your Money, Your Wealth.
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