NerdWallet's Smart Money Podcast

Learn how to escape a timeshare contract, plus what kind of help exists if you want to buy a home. How do you get out of a timeshare you no longer want? Elizabeth Ayoola talks with travel Nerd Craig Joseph about a listener whose parents are paying yearly fees on an Orlando property they can barely use anymore. You'll hear why these timeshare contracts are so hard to unwind, what maintenance fees tend to run, and why there's often no cap on how fast they climb. Then, can you really get free money to buy a house? Sean Pyles, CFP®, Elizabeth Ayoola and senior news writer Anna Helhoski are joined by mortgage Nerds Abby Badach Doyle and Kate Wood to discuss how down payment and closing cost assistance works, and how to tell a good deal from an expensive one. They get into where the thousands of programs come from, how a grant differs from a forgivable loan or a second mortgage, and one place homebuying help is starting to appear that you might not expect. Want to get rid of your timeshare? Read this before you hire someone to help: https://consumer.ftc.gov/consumer-alerts/2022/11/want-get-rid-your-timeshare-read-you-hire-someone-help Links mentioned in this episode: How Timeshare Presentations Earn Me Cheap Travel: https://www.nerdwallet.com/travel/learn/how-timeshare-presentations-earn-me-cheap-travel Are Timeshares Worth It? Possibly, if You Buy Smart: https://www.nerdwallet.com/travel/learn/are-timeshares-worth-it Want to get rid of your timeshare? Read this before you hire someone to help: https://consumer.ftc.gov/consumer-alerts/2022/11/want-get-rid-your-timeshare-read-you-hire-someone-help Enter for a chance to win a $250 Amazon gift card — and help us improve our show — by taking our listener survey! Find the survey and official sweepstakes rules here: https://docs.google.com/forms/d/e/1FAIpQLSettbeI0yDf8tLt_Q772StVJoWs_Gm-pWa-gSn2fdWEc0XcOw/viewform?usp=sharing&ouid=102666646608198254961  Subscribe to our podcast’s free email newsletter for bonus content and more from our hosts at https://smartmoney-nerdwallet.beehiiv.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 Smart Money’s YouTube Channel: https://youtube.com/@nerdwalletsmartmoney 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. *The show notes were created with the assistance of AI. They have been reviewed by our editorial team for accuracy and quality. Learn more about your ad choices. Visit megaphone.fm/adchoices

When a parent sends their retirement savings to someone they met online, learn how to help them recover – without letting it happen again. What do you do when a parent has spent most of their retirement savings on a romantic partner they’ve never met? Hosts Sean Pyles, CFP®, and Elizabeth Ayoola help from a listener whose father, in his 70s, drained his retirement accounts and ran up massive credit card debt paying someone he met on OnlyFans. Sean shares what happened when his own father lost $150,000 to a crypto scheme while isolated during the pandemic, and Elizabeth talks about being scammed herself and her mother handing money to a stranger promising crypto returns. They get into the shame that keeps victims silent, the chat agencies that mean the person answering may not be the person in the photos, the red flags that show up before money moves, and why a parent who’s lonely is a target long before they’re a victim. Plus, we talk with an economics professor about the Federal Reserve’s decision this week to hike a key interest rate, and what it could mean for your loans and savings accounts.  If you’re worried a parent is being scammed, you can access free guidance at the AARP Fraud Watch Network Helpline.  Enter for a chance to win a $250 Amazon gift card — and help us improve our show — by taking our listener survey! Find the survey and official sweepstakes rules here: https://docs.google.com/forms/d/e/1FAIpQLSettbeI0yDf8tLt_Q772StVJoWs_Gm-pWa-gSn2fdWEc0XcOw/viewform?usp=sharing&ouid=102666646608198254961  Subscribe to our podcast’s free email newsletter for bonus content and more from our hosts at https://smartmoney-nerdwallet.beehiiv.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 Smart Money’s YouTube Channel: https://youtube.com/@nerdwalletsmartmoney 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. *The show notes were created with the assistance of AI. They have been reviewed by our editorial team for accuracy and quality. Learn more about your ad choices. Visit megaphone.fm/adchoices

Learn how to manage your finances before starting a business. Plus: what's next for the rapidly growing prediction markets. What should you have in place financially before leaving your job to start a business? Hosts Sean Pyles, CFP®, and Elizabeth Ayoola bring on small business Nerd Rosalie Murphy to answer a question from listener Blake, who is 27 and on the verge of walking away from a steady paycheck to launch their own company. Together, they examine how much cash you really need before going months without income, what to do about existing high-interest debt before you launch, how to handle taxes when your employer is no longer withholding them for you, which retirement accounts could make sense when you're self-employed, and how separating your business and personal finances from day one could protect your personal assets if things go wrong. Then, what are prediction markets, and what happens when billions of dollars start trading on election outcomes? Senior news writer Anna Helhoski interviews Aaron Klein, a senior fellow at the Center on Regulation and Markets at the Brookings Institution, about the booming prediction market industry. They discuss how platforms like Kalshi and Polymarket differ from both stock trading and gambling, whether the legal distinction between a "swap" and a "wager" actually matters for everyday users, how these platforms are navigating state gambling laws, and what it could mean when millions of dollars are wagered on whether a political party wins control of Congress. Resources discussed in this episode: Best Business Checking Accounts of August 2026 Best Business Credit Cards of August 2026 How to Open a Business Bank Account How to Incorporate a Business How to Get Business Insurance: What You Need, Where to Buy It Subscribe to our podcast’s free email newsletter for bonus content and more from our hosts at https://smartmoney-nerdwallet.beehiiv.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 Smart Money’s YouTube Channel: https://youtube.com/@nerdwalletsmartmoney 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. *The show notes were created with the assistance of AI. They have been reviewed by our editorial team for accuracy and quality. Learn more about your ad choices. Visit megaphone.fm/adchoices

Learn how data centers could be raising your utility bills. Plus: how to use a sinking fund strategy to pay your bills. What does it actually cost your community when a hyperscale AI data center moves in nearby? Senior news writer Anna Helhoski joins host Sean Pyles, CFP®, to break down the growing national backlash against data centers. They discuss what costs communities are left to shoulder — from unexpected spikes in electricity bills to strained water supplies and persistent noise pollution — and why the economic benefits towns were promised may not measure up to what residents end up paying. Once your savings buckets are set up, how do you actually pay your bills without the whole system falling apart? Sean and his fellow host Elizabeth Ayoola tackle listener questions about the most overlooked piece of the sinking fund strategy: managing payments across multiple accounts. They dig into why putting everything on one credit card can become a bookkeeping headache, what it means if you keep pulling from one bucket to cover another, and how your rewards card strategy could actually be working against your savings goals. Read senior news writer Anna Helhoski's full investigation into the hidden costs of data centers: https://www.nerdwallet.com/finance/news/data-center-costs  Subscribe to our podcast’s free email newsletter for bonus content and more from our hosts at https://smartmoney-nerdwallet.beehiiv.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 Smart Money’s YouTube Channel: https://youtube.com/@nerdwalletsmartmoney 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. *The show notes were created with the assistance of AI. They have been reviewed by our editorial team for accuracy and quality. Learn more about your ad choices. Visit megaphone.fm/adchoices

Learn how to budget for dropping to one income with a baby on the way. Plus: what's really happening to the 50+ workforce? What's driving the labor force participation rate to a 50-year low — and what does it mean for the more than one million Americans aged 54 and up who are still looking for work? Sean Pyles, CFP®, and Elizabeth Ayoola are joined by news colleague Rick VanderKnyff and Gary A. Officer, president and CEO of CWI Works, to dig into the real challenges facing older workers today. They cover why age discrimination costs the U.S. economy an estimated $850 billion a year, how AI anxiety is hitting older workers in physically demanding jobs hardest, why the barriers to re-entering the workforce after retirement are steeper than most people realize, and what a 27% long-term unemployment rate among older Americans says about who the job market is actually built for. When you're expecting your first baby and planning to leave the workforce, how do you know your finances are truly ready for the shift to one income? Sean and Elizabeth sit down with listener Paige, who has over a year of expenses saved and around $100,000 in retirement funds but is still anxious about the jump. They tackle the specific decisions she's wrestling with: what to do about retirement contributions when one partner stops working, which expenses could be safely cut before baby arrives, whether her current life insurance coverage is adequate for a growing family, and how to build a realistic picture of what her budget could look like once the paycheck disappears this fall. Use NerdWallet's 50/30/20 budget calculator to see how your needs, wants, and savings stack up: https://www.nerdwallet.com/finance/learn/nerdwallet-budget-calculator  Estimate how much life insurance your family could need with NerdWallet's calculator: https://www.nerdwallet.com/insurance/life/learn/how-much-life-insurance-do-i-need  Subscribe to our podcast’s free email newsletter for bonus content and more from our hosts at https://smartmoney-nerdwallet.beehiiv.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 Smart Money’s YouTube Channel: https://youtube.com/@nerdwalletsmartmoney 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. *The show notes were created with the assistance of AI. They have been reviewed by our editorial team for accuracy and quality. Learn more about your ad choices. Visit megaphone.fm/adchoices