Outsmart Student Loan Scams, and Child Care Budgeting Tips
b"Keep your money safe by spotting student loan scams, then learn how to cover child care costs without going into debt.\\n01:02 This Week in Your Money: Hear a student loan scammer\\u2019s actual voicemail, which hosts Sean Pyles and Liz Weston dissect line by line to give you a better understanding of scammers\\u2019 manipulative strategies and pressure tactics. Sean and Liz will also share practical advice about how to safeguard yourself and your loved ones against these scams and tips for how to plan your budget for when student loan payments resume later in 2023.\\n09:15 Today\\u2019s Money Question: Personal finance Nerd Kim Palmer helps Sean and Liz answer a listener question about the financial challenges associated with sending two children to day care full time, despite both parents having six-figure salaries. They suggest different budgeting approaches parents may want to consider when planning for child care costs, and Kim shares the trade-offs she has made in her own life to afford child care. The Nerds also discuss the risks of using a home equity line of credit to fund day care, the potential hazards of lifestyle creep and the implications of becoming a stay-at-home parent to offset child care costs.\\n22:03 Takeaway Tips.\\nIn their conversation, the Nerds discuss: student loan scammers; financial scams; keeping your FSA ID safe; budgeting for parents; retirement savings; lifestyle creep; the 50/30/20 budget strategy; managing household expenses; when to consider a home equity line of credit (HELOC); budgeting shortfalls; and child care costs.\\nPlease 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.\\nIf you enjoyed today\\u2019s episode, then please vote for us in the 18th Annual People's Choice Podcast Awards! Register at https://podcastawards.com and find \\u201cNerdWallet\\u2019s Smart Money Podcast\\u201d in the Business category. Voting in other categories is optional. We appreciate it!\\nTo send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com.\\nLike what you hear? Please leave us a review and tell a friend."