Smart Ways to Get Out of Debt, and Pet Insurance Planning

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 20 July 2023

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Learn ways to handle your debt, including some options you might not know about. And find out how pet insurance works, how much it costs and ways to budget for pet care. 01:14 Today’s first Money Question: Personal finance Nerd Tommy Tindall joins Sean Pyles and Liz Weston to discuss alternative ways to pay off debt when you can’t get a personal loan. The Nerds discuss credit counseling, debt management plans and when it may make sense to declare bankruptcy. They analyze the pros and cons of each and discuss the potential effects on credit scores. If you've ever wondered when it may make sense to use a debt management plan or when bankruptcy might be a better option, this episode has got you covered. 17:04 Today’s second Money Question: Is pet insurance worth it? Co-host Sara Rathner joins Sean and Liz to answer that question by breaking down how pet insurance works, what to consider when selecting a plan and when you may want to consider it for your furry (or feathery, or scaly) friends. They also discuss the costs of different levels of coverage, the impact of your pet's age on insurance costs and how to budget for anticipated medical expenses. In their conversation, the Nerds discuss: debt-to-income ratio; debt snowball and debt avalanche payoff methods; credit scores; credit counseling; declaring Chapter 7 or Chapter 13 bankruptcy; debt settlement; pet insurance premiums; preexisting conditions; dental cleanings; and pet emergency funds. Please take our listener survey at https://nerdwallet.com/podsurvey to help us improve the show! Survey participants will be automatically entered into our Smart Money Podcast Sweepstakes for a chance to win a $100 Amazon gift card when you complete and submit the survey form. The Sweepstakes period is from June 19, 2023, to August 7, 2023. Limit One (1) Entry per person. No purchase necessary to enter or win. Odds of winning will be determined by the number of eligible entries received. Read the Official Rules for more details. If you enjoyed today’s episode, then please vote for us in the 18th Annual People's Choice Podcast Awards! Register at https://podcastawards.com and find “NerdWallet’s Smart Money Podcast” in the Business category. Voting in other categories is optional. We appreciate it! To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Prime Video brings thrilling entertainment.
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0:10.0	Treat yourself to the lovably chaotic Bridget Jones mad about the boy available to buy.
0:15.0	Did you have sex? Did you have sex?
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0:19.0	Yes! And it was amazing!
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0:25.3	Prime Video.
0:27.1	Click or tap the banner to find out more.
0:31.3	Hey, Liz, how much would you say your cats factor into your budget?
0:35.4	Oh, way too much sometimes, especially if one eats something that she
0:39.3	shouldn't have. Ooh, yeah. Yeah. Well, listener, you are in luck if you're a pet owner. Today we'll not
0:45.5	only discuss alternative ways to pay off debt, but we'll also talk about the pros and cons of pet
0:50.9	insurance and how to figure out if it's worth it for your furry friends or
0:55.4	skily friends. Or feathery friends, or whatever it is that frogs have. And let's not forget
1:01.1	exoskeletons in the case of a pet scorpion or tarant Podcast. I'm Sean Piles.
1:23.5	And I'm Liz Weston. Today we're revisiting a couple of our most popular money questions from the past few years.
1:29.6	We'll start with a listener question about ways to pay off debt if you can't get a loan before we dive into the wild world of pet insurance.
1:37.5	And listener, if you have any stories to share about your pet insurance experience, we would love to hear from you.
1:43.0	Leave us a voicemail or text the nerd hotline at
1:45.4	901-7306373. That's 901-730 N-E-R-D or email a voice memo to podcast at nerdwollet.com.
	...

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