NerdWallet's Smart Money Podcast

New job, more income — now what? Hear how one listener is managing his Roth IRA, health savings account, high-yield savings, and more. Is it smart to use a Roth IRA like a savings account? How should you prioritize your money across savings, debt, and retirement after getting a higher-paying job? Hosts Sean Pyles and Elizabeth Ayoola answer a listener’s question about managing multiple financial goals and choosing the right accounts for short- and long-term needs. But first, they share their money hot takes, including Elizabeth’s thoughts on Buy Now, Pay Later (BNPL) loans and Sean’s interest in stronger pro-consumer protections in light of recent federal rollbacks. Then, they talk to listener Jake, who recently relocated for a new job and is navigating how to allocate his money now that he’s earning a bigger paycheck. Jake wants to know if it makes sense to use a Roth IRA for savings and how to simplify or optimize his mix of bank accounts. They cover how to prioritize emergency savings, retirement contributions, and future goals like a home purchase, all while avoiding analysis paralysis and making the most of high-yield savings accounts. Inspired to navigate your finances with an advisor? Use NerdWallet Advisors Match to find vetted professionals today at https://www.nerdwalletadvisors.com/match [https://www.nerdwalletadvisors.com/match]  Learn more about NerdWallet Wealth Partners: https://nerdwalletwealthpartners.com/ [https://nerdwalletwealthpartners.com/]  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 [https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header] In their conversation, the Nerds discuss: how to use a Roth IRA for savings, Roth IRA withdrawal rules, high yield savings account vs Roth IRA, best high yield savings accounts, what is a CD ladder, Buy Now Pay Later pros and cons, budgeting after a raise, how to prioritize financial goals, how to automate savings, how to manage multiple bank accounts, closing bank accounts and credit score, best place to save for house down payment, emergency fund vs Roth IRA, what to do after getting a new job, student loan repayment benefits, HSA contribution strategy, how to save for a house in 5 years, budgeting in high cost of living area, saving for short-term goals, pros and cons of online-only banks, how to overcome analysis paralysis in finance, Roth IRA vs high yield savings account, how to choose a bank, CFPB budget cuts impact, FTC click-to-cancel rule rollback, responsible use of debt, financial planning for tech professionals, credit score impact of closing bank accounts, reverse budgeting explained, safe ways to grow savings, how to build financial peace, using automation in budgeting, HSA vs IRA vs savings, debt vs savings prioritization, how to start a CD ladder, and when not to invest money. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com [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 [https://megaphone.fm/adchoices]

How to protect your credit from medical debt and choose the right way to save for a home down payment. How does medical debt affect your credit score? What accounts can you use to save for a house down payment? Hosts Sean Pyles and Elizabeth Ayoola discuss the recent reversal of a Consumer Financial Protection Bureau rule that would have removed medical debt under $500 from credit reports and explore the consequences for consumers. Joined by senior news writer Anna Helhoski and guest Rohit Chopra, former director of the Consumer Financial Protection Bureau, they explain why the rule was proposed, what the legal ruling means for borrowers, and what consumers can do to protect themselves. They share insights on why the CFPB is vital to maintaining financial fairness and what the agency's dormancy could mean for future protections. Then, housing Nerd Kate Wood joins Sean and Elizabeth to discuss how to save for a home in today’s high-cost, high-interest-rate housing market. They dig into what emergency fund you should consider having before buying a house, how to choose between high-yield savings accounts and CDs, and why the 20% down payment myth could be holding you back. The conversation also covers how much you really should save (spoiler: it’s more than just your down payment), why closing costs are often misunderstood, and how first-time buyers can explore down payment assistance programs that offer real help. NerdWallet's list of the best high-yield savings accounts: https://www.nerdwallet.com/best/banking/high-yield-online-savings-accounts [https://www.nerdwallet.com/best/banking/high-yield-online-savings-accounts]  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 [https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header] In their conversation, the Nerds discuss: medical debt and credit scores, saving for a down payment, CFPB medical debt rule, how to save for a house, down payment assistance programs, how medical debt affects credit, CFPB rule overturned, home buying costs, closing costs calculator, how much to save for a house, best high yield savings accounts, down payment myths, private mortgage insurance explained, how much to put down on a house, 20% down payment myth, CD ladder strategy, high yield CD rates, CD vs savings account, home equity from appreciation, real estate agent commission changes, home maintenance budgeting, how to avoid PMI, how to get rid of PMI, what is PMI, CFPB complaint database, checking credit reports, how to prequalify for a mortgage, how to calculate closing costs, state housing authority grants, and first-time homebuyer programs. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com [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 [https://megaphone.fm/adchoices]

Learn how to dodge scams to protect your money, then understand how to compare robo vs. traditional investment risks. What should you do if your credit card is compromised in a scam? Are robo-advisors riskier than traditional brokerage accounts? Hosts Sean Pyles and Elizabeth Ayoola discuss how to spot and respond to identity theft and dig into how robo-advisors stack up to traditional investing platforms to help you protect your financial life. They kick off Smart Money’s new Scam Stories series by welcoming guest Scramble Hughes, a circus performer and scam victim, who shares a real-life experience with credit card fraud. They discuss tips and tricks on recognizing red flags like mass spam messages, acting fast by calling the number on your card (not clicking links), and filing credit freezes with all three credit bureaus.  Then, investing Nerd Bella Avila joins Sean and Elizabeth to discuss how robo-advisors compare to traditional brokerage accounts. They discuss risk levels in automated portfolios, SIPC insurance protections, and key factors to consider when choosing a platform like account minimums, platform stability, and user experience. See NerdWallet’s top picks for the best robo-advisors of 2025 here: https://www.nerdwallet.com/best/investing/robo-advisors [https://www.nerdwallet.com/best/investing/robo-advisors]  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 [https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header] In their conversation, the Nerds discuss: credit card fraud, how to report identity theft, robo advisor vs brokerage account, SIPC insurance limits, credit freeze Experian, how to freeze your credit, credit card scams TikTok, how to know if a text is a scam, what is a robo advisor, tax loss harvesting robo advisor, ETF risk robo advisor, ETF diversification, FDIC vs SIPC, how to block spam texts, freeze credit TransUnion, safest robo advisors 2025, best robo advisor for ETFs, hacked credit card reader, RFID credit card theft, how to recover from identity theft, difference between SIPC and FDIC, scams targeting small business owners, how to secure your investment accounts, how to protect credit card information, email spam after identity theft, what to do after credit card theft, how long do fraud refunds take, when to freeze credit, best practices after identity theft, and comparing investment platform safety. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com [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 [https://megaphone.fm/adchoices]

Find out where the housing market's headed and how to help your teen build smart credit habits early. Is now a smart time to buy a home or should you wait for mortgage rates to drop? What’s the best way to help your teenager build credit before college? Hosts Sean Pyles and Elizabeth Ayoola explore these questions to help you make confident financial moves. Joined by senior news writer Anna Helhoski and housing Nerds Kate Wood and Holden Lewis, they begin with a deep dive into the current housing market, including which U.S. cities are becoming buyer-friendly and why inventory remains tight in other regions. They explain how supply levels are shifting, what’s behind rising mortgage rates, and why trying to time the market might not be your best bet. Then, Sean and Elizabeth are joined by listeners Kevin and Simon, a parent-child duo, to explore how to set young adults up for financial independence. They discuss how to transition teens into responsible credit card ownership, tips for budgeting during college, and how to build long-term wealth with tools like Roth IRAs. The conversation also covers how to preserve credit history when closing joint accounts, how to approach investing for kids who are risk-averse, and how parents can step back while still offering support.  Which credit card issuers allow a co-signer? See NerdWallet’s list, which includes the minimum age for each co-signer, when applicable: https://www.nerdwallet.com/article/credit-cards/which-credit-card-issuers-allow-cosigner [https://www.nerdwallet.com/article/credit-cards/which-credit-card-issuers-allow-cosigner]  Use NerdWallet’s free compound interest calculator to see how your savings and investment account balances can grow: https://www.nerdwallet.com/calculator/compound-interest-calculator [https://www.nerdwallet.com/calculator/compound-interest-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 [https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header] In their conversation, the Nerds discuss: housing market 2024, buyer vs seller market, mortgage rates trends, housing inventory levels, real estate market by region, months of housing supply, when will mortgage rates drop, building credit for teens, first credit card for college students, how to teach kids about money, joint credit card parent child, teen money management, best credit cards for groceries and gas, starting a Roth IRA for young adults, compound interest for students, credit score for young adults, student budgeting, helping kids become financially independent, robo-advisors for teenagers, how to choose a credit card, parenting financial literacy, Gen Z and credit cards, financial support during college, how to teach credit card responsibility, when to close joint credit accounts, multigenerational banking, real estate trends northeast vs south, affordability housing 2024, new home construction trends, and immigration and housing labor. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com [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 [https://megaphone.fm/adchoices]

Budget better for group trips and explore if savings bonds still deserve a spot in your long-term investment plan. How do you plan a trip with friends without blowing your budget — or your relationships? Are savings bonds a smart way to invest in your kids’ future? Hosts Sean Pyles and Elizabeth Ayoola discuss the emotional and financial dynamics of group travel and walk through what it really takes to invest in savings bonds for education and life goals. They begin with a discussion of traveling with friends, with tips and tricks on setting clear expectations, budgeting according to your values, and managing financial boundaries. Smart Travel [https://link.chtbl.com/FvKHzKit] podcast hosts Sally French and Meghan Coyle join Sean and Elizabeth to share their insider tips for group travel, including itinerary planning, respecting different budgets, and balancing social time with solitude. Then, investing Nerd Sam Taube joins Sean and Elizabeth to break down the pros and cons of savings bonds, including Series EE, I Bonds, treasury bonds, and more. They discuss tax implications, bond yield mechanics, and how to incorporate bonds into a long-term investing strategy. 8 Best Online Brokers for Bonds: https://www.nerdwallet.com/best/investing/brokers-for-bonds [https://www.nerdwallet.com/best/investing/brokers-for-bonds] Planning your next vacation? Before you budget, learn how to get the most out of your travel dollars by following our Smart Travel podcast: https://link.chtbl.com/FvKHzKit [https://link.chtbl.com/FvKHzKit]   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 [https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header] In their conversation, the Nerds discuss: traveling with friends, how to budget for group trips, friendship and money, planning trips with friends, financial boundaries while traveling, group vacation budgeting, how to say no to expensive trips, budget travel tips with friends, post vacation financial regret, peer pressure spending on vacation, savings bonds, series EE bonds, I bonds, treasury bonds vs savings bonds, when to buy savings bonds, how to cash in savings bonds, best bonds for education savings, bond yield explained, fixed income investments, muni bonds, corporate bonds, bond diversification strategy, investing in bonds for kids, bonds vs 529 plan, bond interest rates, bond tax benefits, how to buy savings bonds online, treasury direct account, cashing paper savings bonds, bond market trends, and how bonds fit in a retirement portfolio. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com [podcast@nerdwallet.com]. Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]