Less Spending Power, More Debt? Navigate a Declining Dollar and Make Progress on Credit Card Bills

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 24 April 2025

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Learn how a weakening U.S. dollar affects your wallet and how you can escape the cycle of never-ending credit card debt. Why is the U.S. dollar losing value and how does that affect day-to-day spending? How can you make progress on credit card debt that feels impossible to tackle? Hosts Sean Pyles and Elizabeth Ayoola discuss the value of the U.S. dollar and strategies to break free from credit card debt. Joined by NerdWallet senior news writer Anna Helhoski, they begin with a discussion of what’s behind the dollar’s recent decline, with tips and tricks on how it affects your travel budget, why prices may rise, and what to expect from currency exchange rates. Then, Sean and Elizabeth dig into a listener’s question about persistent credit card debt through a unique role-play segment. They discuss how to prioritize which card to pay down first, how to manage the emotional burden of debt, and ways to balance living your life while staying committed to repayment. If you've ever felt stuck with revolving debt or curious about how global trade policies might impact your wallet, this episode offers practical guidance and empathetic insights. Track your credit score, cash flow, net worth, and insurance for free using the NerdWallet app: https://www.nerdwallet.com/p/mobile-app Debt Snowball Method: What It Is and How to Use It https://www.nerdwallet.com/article/finance/what-is-a-debt-snowball In their conversation, the Nerds discuss: why the dollar is weakening, dollar value today, what affects dollar strength, how to track dollar index, USDX explained, how tariffs affect the dollar, U.S. dollar and inflation, dollar exchange rate travel, international travel exchange rate tips, how a weak dollar affects prices, adjusting your budget for inflation, credit card debt payoff tips, how to pay off credit card debt faster, credit card debt emotional toll, debt snowball vs avalanche, paying off high-interest cards, how to prioritize credit card debt, managing debt and lifestyle, balancing debt and enjoyment, debt payoff motivation, financial anxiety and debt, impact of Trump trade policy on dollar, Federal Reserve interest rates and the dollar, how investor confidence affects currency, fiat currency explained, weak dollar travel planning, credit card payoff challenges, credit card debt mental health, and making progress on credit card debt. 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. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:30.6	Elizabeth, what's something you know you shouldn't do but just can't manage to stop doing?
0:35.6	I like to think that I don't have any bad habit, Sean.
0:38.9	Okay, but actually, I'll be honest.
0:41.1	It's eating dinner at 10 p.m.,
0:43.1	especially when I don't feel like I had enough protein for the day.
0:46.4	I feel like that would give you some weird dreams.
0:48.0	You ever hear about that?
0:48.7	If you eat too close to bedtime, you have strange dreams.
0:51.4	Well, that might explain why I'm always flying in my dreams, but hey. Well, there you go. For me, it's browsing the vintage clothing sellers on eBay and buying
1:00.4	stuff that I simply do not need. But we're not here to talk about that today. Instead, we'll
1:05.3	dive into how to break some bad spending habits that might be contributing to your debt.
1:19.7	Welcome to Nerd Wallet's Smart Money podcast, where you send us your money questions, and we answer them with the help of our genius nerds. I'm Sean Piles. And I'm Elizabeth Ayola. This
1:25.6	episode, we're talking about some smart strategies to tackle credit card debt.
1:29.8	But first, our weekly Money News Roundup, where we break down the latest in the world of finance
1:34.6	to help you be smarter with your money.
1:36.8	Today, we're talking about something that touches everything from your shopping cart
1:41.2	to your online checkout screen and your summer travel plans, the value of
	...

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