Money News: Save Money on Commuting Costs in a Changing Economy

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 25 October 2023

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

Learn practical financial tips to save on rising commuting costs as workers increasingly return to the office. Before discussing the rising costs of commuting, hosts Sean Pyles and Anna Helhoski review noteworthy financial headlines, including the Federal Reserve's influence on interest rates, the latest Commerce Department report on retail sales, the Mercer CFA Institute’s Global Pension Index ranking of 47 different kinds of retirement systems from around the world, and the IRS's pilot program for free tax preparation software called Direct File. Then, Sean and Anna welcome NerdWallet’s Liz Renter to take a deep dive into the escalating costs of commuting to work. The Nerds explore the demographics of commuters, factors driving car ownership costs, the fluctuation in gas prices and the international events affecting fuel costs, and the used car market. They also discuss whether consumers can expect relief in the near future and share practical strategies for keeping costs down. In their conversation, the Nerds discuss: personal finance, money news, commuting, car ownership, money headlines, the Federal Reserve, interest rates, retirement systems, the IRS, tax preparation software, commuting costs, auto insurance, gas prices, used car prices, economic trends, carpooling, savings, consumer spending, government debt, wealth, retirement savings, and fuel costs. 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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0:00.0	Welcome to Nerd Wallet's Smart Money Podcast. I'm Sean Piles.
0:07.8	And I'm Anna Hilhouski, and this is our weekly personal finance news roundup, where we take a look at recent developments in the world of money and then go in depth on an issue that's important to your life and your bottom line.
0:18.9	But before we get into this episode's headlines, I've got a call out for you,
0:23.0	dear listener.
0:24.5	Tell me about the absolute best thing that happened to you financially in 2023.
0:29.8	Maybe you got serious about saving for retirement or funded an international vacation on your
0:34.3	credit card points.
0:35.5	Whatever you did, I want to hear about it for a special
0:38.1	end of year episode that we're putting together. Leave me a voicemail on the nerd hotline at 901,
0:43.4	730, 6373, or email a voice memo to podcast at nerdwallet.com. Yeah, you better to do it because
0:50.5	Sean won't stop asking for your stories until each and every one of you has shared
0:54.8	yours. That is the truth. I mean, I just love celebrating our listeners, so what can I say?
1:01.2	Anyway, back to the news. Today, we're going to hit the road and talk about what's happening
1:05.4	with commuting these days. More and more people are going back to the office, and that means
1:09.7	getting back in the car.
1:11.4	And that also means spending more money, because car ownership is getting more and more expensive.
1:16.5	So we're going to have some tips for camping down on those costs.
1:19.6	But first, a few money headlines from the last few days.
1:25.3	Anna, I feel like the Fed has become a guest that will never leave my home.
1:30.3	Certainly a guess that you can't toss out the door because it has too much influence on your life.
1:35.4	Yeah, and I'm not saying I'm anti-Fed, but it does seem like every week we talk about how
1:39.8	everybody's waiting to see what the Fed does because the stock market, housing market,
	...

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