The High Cost of Crappy Credit (Bestie Ep) #1083

How to Money

iHeartPodcasts

Education, Investing, Business

4.6 • 3.2K Ratings

🗓️ 2 January 2026

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Think back to the last time you lost power at your place. I’m sure it was an inconvenience- it was likely annoying to find yourself walking into a room and reflexively reaching for the light switch, even though the power was out. But the real problem with an outage are the downstream effects it has: food in the fridge spoils, traffic is a nightmare if the stoplights are out, folks even die due to extreme heat or cold. We’re less worried about a power outage and more worried about the mayhem that ensues. And in a similar way we’re less worried about silly credit scores and more worried about the negative impact that a crappy score can have on much of your personal finances. Listen as we discuss our stance on taking out loans, the high cost of neglecting your credit, and steps that you can immediately take in order to mitigate the knock-on effects of crappy credit.

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

Credit card perks: Check out our favorite credit cards that we use to maximize rewards and optimize our spending.
Other money nerds: Find a thriving community of fellow money nerds by joining the HTM Facebook group!
Newsletter: Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
Money Gears: knowing what to do with your money is crucial to your personal finance journey.
MG7: and maybe you’re well on your way to financial independence but you’re looking for some financial reassurance, that’s when heading over to HowToMoney.com/Advisor and getting matched with a highly vetted financial advisor makes sense.

During this episode we enjoyed a Grapefruit Radler by Halfway Crooks Beer! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0	This is an I-Heart podcast.
0:02.5	Guaranteed Human.
0:04.4	Welcome to How to Money.
0:05.8	I'm Joel.
0:06.4	And I am Matt.
0:07.8	And today we're discussing the high cost of crappy credit.
0:10.9	Thank you. That's right, buddy.
0:31.6	We are going to talk about all of the different ways that crappy credit is going to cost you if you've got that crappy credit.
0:38.8	But obviously we're going to get to that. But more important than ever is the fact that we're
0:42.2	back, baby. It's back to regularly scheduled programming here. You're back from Florida.
0:47.5	You are to the chagrin of everyone out there. You are, you're not a Florida man any longer.
0:54.0	I came close though. I almost morphed into one.
0:58.0	And you, I was down there for like three weeks of the summer. My family was down for five.
1:01.8	I was kind of back and forth. That's crazy. I will tell you this. Florida has some cool stuff.
1:07.9	But it is ragingly hot. And you're like, no wonder Florida man is a thing.
1:13.0	Right. That it's a mean that it exists because you kind of lose your mind while you're down there. It messes with your brains. Does it really? Yes. You feel like it kind of addled your brains a little bit. I'm trying to get adjusted back to normal life. Like they call Atlanta hot Lana, but no, no, Florida is a different kind of heat.
1:24.9	And, yeah.
1:25.7	It's that wet heat.
1:26.6	Glad to be back.
1:28.3	Well, okay.
1:28.7	So while you were down in Florida, so one of heat. And, yeah, it's that wet heat. Glad to be back.
1:43.4	Well, okay, so while you were down in Florida, so one of the, uh, Kate and I, we used some of, some of our time off to go up to Asheville, right? Uh, we dropped a cooler spot. Oh, my gosh. And honestly, even still, it was pretty, it's just been so freaking hot lately. Yeah. No matter where it is that you live.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from iHeartPodcasts, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of iHeartPodcasts and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.