PennyWise: Personal Finance & Travel Tips Lee Enterprises Podcasts

As summer travel heats up, it's crucial to ensure your credit cards are ready for the journey. In this episode of PennyWise, host Nat Cardona and financial expert Sally French from NerdWallet dive into a comprehensive credit card checklist to maximize your travel experience.

They start by emphasizing the importance of bringing a credit card on your trip. Many aspects of travel, such as renting cars or purchasing in-flight amenities, often require a credit card. Sally explains the benefits of using travel credit cards, including earning higher rewards on dining and travel expenses, and the underrated perk of TSA Precheck or Global Entry fee reimbursement offered by many cards.

The episode also highlights the value of airport lounge access provided by certain credit cards. These lounges offer a range of amenities, from complimentary coffee to full buffets and showers, making your wait time at the airport more enjoyable and productive.

Another critical point discussed is notifying your credit card issuer of your travel plans, especially for international trips. This helps prevent your card from being frozen due to suspected fraudulent activity. Sally advises checking if your card requires this notification and how to easily set it up online.

Foreign transaction fees can add up quickly, so the duo recommends researching and applying for travel credit cards that waive these fees. Many cards offer this benefit, ensuring you don't pay extra for your international purchases.

Finally, they discuss the importance of using the most rewarding credit card for your purchases and taking advantage of money-saving offers. Whether it's earning extra points on hotel stays or getting cashback on rideshares, these rewards can significantly offset your travel costs.

Tune in to this episode for essential tips to make your summer travel smoother and more rewarding. Start planning now to ensure your credit cards are ready for your adventures.

 

In this episode of PennyWise, host Nat Cardona discusses the much-anticipated Amazon Prime Day, happening on July 16 and 17. Joined by Nerdwallet expert Kim Palmer, they dive into the best strategies for making the most out of these two days of deals, highlighting what to buy and what to skip.

The episode kicks off with a focus on electronics, a category that often sees some of the lowest prices of the year during Prime Day, second only to Black Friday. From video game systems to laptops, listeners are advised to do their research and be ready to act quickly to snag the best deals. Nat shares personal anecdotes about scoring great deals on Apple products like AirPods Pro, emphasizing the potential savings on high-ticket items.

Next, the discussion shifts to essential items for parents, such as car seats and strollers. These bulky and expensive items often see significant price drops, making Prime Day an excellent opportunity for parents to save on necessary purchases.

Amazon devices are another hot topic. From Fire TV sticks to Echo devices and Ring doorbells, Prime Day is touted as a prime time to buy these items at reduced prices. However, Kim advises listeners to track prices throughout the year to ensure they are getting the best deal.

The episode also covers toys, a tricky category where prices can be unpredictable. Kim suggests keeping desired toys in your cart to monitor price drops and using tools like the Camelizer browser extension to track price history.

Small appliances, such as air fryers and handheld vacuums, are another category where Prime Day can offer great deals. Yet, listeners are reminded that pop-up sales occur throughout the year, so it's essential to stay vigilant and use price tracking tools like Camelizer or Honey.

As the episode wraps up, Nat and Kim stress the importance of budgeting and avoiding impulse purchases. They recommend implementing a 48-hour rule to help make informed decisions, even starting this process a few days before Prime Day to be prepared. Inventory can be limited, so acting quickly on desired items is crucial.

Tune in to this episode of PennyWise for expert advice on navigating Amazon Prime Day, ensuring you make smart purchases and maximize your savings.

In this episode of PennyWise, host Nat Cardona dives into the essentials of creating a home gym without breaking the bank. Joined by Nerdwallet expert Sarah Rathner, they explore practical tips and financial strategies to help you set up your workout space efficiently.

The episode begins with a discussion on the rise of home gyms during the COVID-19 pandemic and the continued trend of working out at home for convenience and cost-saving reasons. 

Listeners will learn the importance of identifying the types of workouts they enjoy before investing in expensive equipment. Nat and Sarah suggest trying out different fitness classes or gym memberships on a trial basis to determine what equipment will be most beneficial for your home setup.

Budgeting is a key focus of this episode. They emphasize the importance of comparing prices and considering secondhand options for equipment like dumbbells, kettlebells, treadmills, and spin bikes. Platforms such as Facebook Marketplace and Nextdoor can be great resources for finding quality used fitness gear at a fraction of the cost.

The conversation also covers strategic financial planning for major purchases. Sarah advises on the benefits of saving up for equipment and using credit cards with rewards or 0% APR promotions to spread out payments without incurring interest. They also discuss the pros and cons of buy now, pay later plans, which can help manage cash flow but require careful monitoring to avoid overspending.

Finally, Nat and Sarah stress the importance of commitment to your fitness goals to ensure that your investment pays off. They encourage listeners to start with basic equipment and gradually add more as needed, always keeping an eye on their budget and financial health.

Tune in to this episode of PennyWise for actionable advice on building a cost-effective home gym that supports your fitness journey and financial well-being.

In this episode of PennyWise, host Nat Cardona dives deep into the pros and cons of credit limit increases with Wallethub financial expert, Cassandra Happe. Whether you're considering requesting a credit limit increase or have recently received one automatically, this episode offers valuable insights to help you make informed decisions.

Nat and Cassandra explain the two main ways to increase your credit limit: requesting an increase from your credit card issuer or receiving an automatic increase. They highlight the benefits and potential drawbacks of each method, emphasizing the impact on your credit score.

One of the key advantages of a higher credit limit is the added spending power, providing a financial cushion for emergencies and unexpected expenses. Cassandra explains how responsible credit card users who pay their balances on time can benefit from this increased limit without the stress of hitting their credit ceiling.

Another significant benefit is the potential for lower credit utilization, which can positively impact your credit score. Cassandra discusses how maintaining a low balance relative to your credit limit is crucial for a healthy credit score, both for individual cards and across all your credit accounts.

The episode also explores the greater rewards potential that comes with a higher credit limit. By using your credit card for more day-to-day purchases, you can maximize rewards and enjoy perks like cashback, travel points, and more. Cassandra shares tips on how to strategically use your credit card to earn these rewards without falling into debt.

In terms of the cons of credit limit increases, Cassandra warns about the risk of accumulating more debt and the potential difficulty in obtaining other lines of credit. She emphasizes the importance of using credit responsibly and being mindful of your spending habits.

Finally, they discuss the impact on your credit score when you request a credit limit increase. While an automatic increase often involves only a soft credit pull, a requested increase usually results in a hard pull, causing a slight dip in your credit score. Cassandra offers a pro tip: ask your lender if they're willing to increase your limit without a hard pull, as some may accommodate this request.

Tune in to this episode of PennyWise for practical advice and essential tips to help your college-bound child navigate the world of credit cards responsibly and build a strong financial foundation for their future.

Hosted by Nat Cardona and speaking with Wallethub expert Cassandra Happe, this episode is designed to help parents make informed decisions about their child's financial independence and responsibility.

They emphasize the importance of having a credit card for emergencies, especially when your child is far from home. A credit card can provide a safety net in unexpected situations, ensuring your child has access to funds when needed.

They also cover the significance of building credit history early. By becoming an authorized user on a parent's account, students can start establishing their credit without being legally liable for the charges. This sets a foundation for good financial habits and a strong credit score, which will benefit them in their adult life.

Nat and Cassandra also discuss the benefits of secured credit cards and student credit cards. These options provide a controlled environment for young adults to learn about credit management. With secured cards requiring a security deposit, students gain a sense of accountability and the importance of spending within their means.

A key point is the recommendation to limit the number of credit cards a student holds. Starting with just one card helps prevent overspending and simplifies financial management. Cassandra warns about the negative impact of multiple credit card applications in a short period, which can harm a young person's credit score. 

Teaching students about on-time payments and keeping credit utilization below 30% are essential lessons for building good credit. While rewards cards can be tempting, the focus should be on responsible spending and timely payments rather than accumulating points.

Cassandra also advises against using credit cards for friends or family members, stressing the risk involved if they fail to repay. This lesson is crucial for young adults who may still be financially dependent and working part-time jobs.

Finally, the episode addresses the pitfalls of cash advances on credit cards. While they can be a quick solution in dire situations, the high fees and interest rates make them a costly option. Cassandra recommends having a debit or ATM card linked to a checking or savings account for cash needs, as these typically incur lower fees and no interest charges.

In this episode of PennyWise, host Nat Cardona talks with Cassandra Happe, Consumer Finance Expert for WalletHub.

They dive into the art of the staycation, exploring how to make the most out of your time off without the hassle and expense of traveling. Whether you're looking to save money or simply prefer the comfort of your own home, this episode is packed with tips to help you create a memorable and relaxing staycation.

Key points discussed include the importance of planning ahead, creating an itinerary, and setting a budget to ensure you don't overspend. Cassandra also shares creative ways to transform your home into a peaceful oasis, from decluttering and lighting candles to indulging in at-home spa treatments. The episode highlights the benefits of disconnecting from work and social media to fully immerse yourself in relaxation.

Listeners will learn about exploring local attractions, such as museums, parks, and downtown areas, as well as the joys of trying new activities like picnics, hiking, and visiting nearby towns. The conversation also covers the value of learning new skills or hobbies during your staycation, utilizing free resources like YouTube, TikTok, and local libraries.

Nat and Cassandra emphasize the importance of attending local events, whether they are free community gatherings or special events at local breweries and wineries. For those who enjoy socializing, hosting a budget-friendly event like a backyard barbecue or a virtual hangout with friends and family is also suggested.

The episode wraps up with a reminder to capture staycation memories through photos and notes, making it easier to look back and appreciate the experience. Nat also recommends WalletHub as a valuable resource for finding the best cities for staycations, travel credit cards, and road trip ideas.

Tune in to this episode of PennyWise for actionable tips and creative ideas to make your staycation truly special, no matter where you live.