NerdWallet's Smart Money Podcast: "Generational Wealth Built from Scratch and an Emergency Fund on a Deadline"

Release Date: November 17, 2025
Hosts: Elizabeth Ayoola (A), Sean Pyles (B), special guest Grace Vandecruze (C), Kim Palmer (D)

Episode Overview

This episode delivers the second half of NerdWallet’s mini-series about first-generation wealth builders, focusing on personal finance expert and insurance executive Grace Vandecruze. Listeners get an inspiring look at building generational wealth “from scratch” with practical, hard-earned lessons on overcoming adversity and intentional money management. In the second segment, the show shifts to answer a listener's timely question: "How do I rapidly build an emergency fund with a job loss looming?"—packed with actionable tips, mindset guidance, and budget hacks.

1. Grace Vandecruze on Building Generational Wealth

(Segments 02:06 – 24:21)

Guest Introduction and Background

• Grace Vandecruze: Founder & Managing Director at Grace Global Capital LLC, consulting in financial advisory, M&A, and insurance.
• Fun Fact: Licensed sailor—picked up the hobby due to client relationships in the insurance sector.
  "[Sailing] fascinated me with how carefully you had to observe your environment and adjust…the team effort…it’s connected to business in surprising ways." (03:12, C)

Origin Story & Money Mindset

• Grace’s background: Grew up in Guyana, South America with very limited resources but a supportive, loving family.
• First money memory: “Filled with lack and not enough…some of it was shrouded in shame and denial.” (05:56, C)
• Her grandmother’s wisdom: “Believe beyond your limits…never plan your goals, visions, or dreams based on your current circumstances.” (06:45, C)
• The pivotal event: Their family home burned down during her undergrad in NYC; they became homeless overnight but stayed together.
  • “All of our possessions…in a 13-gallon trash bag with room to spare. It was a wake-up call…not having a financial safety net.” (07:55, C)
• Article Plug: "From Ashes to Assets" in Black Enterprise—about starting from less than zero.

Why Finance? Purpose-Driven Career

• Chose finance and insurance to help families create safety nets and build multigenerational security.
  • “Not only an advisor in building family safety nets…a deep advocate for financial empowerment and helping people build wealth to pass on.” (11:08, C)

Her Wealth-Building Journey

• Graduated with six-figure student debt. Lived off salary, used bonuses to pay down the debt in four years, then invested in real estate and the stock market.
  • “Live off your salary and save your bonus. I used my bonus to pay off this big, six-figure debt.” (13:04, C)
• Real estate and stock market investing were key.

Family Expectations and Setting Boundaries

• Common among first-gen wealth builders: Pressure to support extended family, which can stall wealth-building efforts.
• Advice: “There is significant power in the word NO…Giving them money is like putting a Band-Aid on a cancer. It never ends.” (15:06, C)
• “Wealth is silent, you know. Wealth is quiet; poor is noisy.” (17:14, C)—citing the importance of discretion and privacy.

Biggest Challenges & Lessons

• Divorce was the most significant challenge—emotionally and financially bankrupt, led to her re-launch as an entrepreneur.
  • “One of the most powerful things I did was walk away from a toxic relationship…Entrepreneurship was a powerful journey for me.” (18:35, C)
• Second time building up: Greater focus on personal brand, mission, and fulfillment.

Planning for Generational Wealth and Legacy

• Plans her legacy for “three generations—100 years from now.” (20:44, C)
• Key steps:
  • Legal documents: Will, power of attorney, updated and discussed with family.
  • Family conversations about money and financial vision at gatherings.
  • Education and financial literacy for heirs.
  • Insurance as a pillar: “If you’re not insured you cannot build or create wealth or leave a lasting legacy.” (22:57, C)

Notable Quote

• “Our current circumstances will deceive us as far as what we can achieve.” (08:54, C)
• “I plan my legacy for three generations—100 years from now. You need to have the legal documents, talk about finances, and educate the next generation.” (20:44, C)

2. Emergency Fund on a Deadline: Listener Q&A

(Segments 28:18 – 40:09)

Listener’s Situation

• Works at a non-profit; job/department at risk due to funding.
• Already side hustling (consulting, adjunct teaching), but “emergency fund wouldn’t even cover one month.”
• Just got out of credit card debt; worried about “employment cliff.”
• Salary: $135,000; Take-home: $6,400/month; Expenses: $7,500/month.

How to Fast-Track Emergency Savings

• Kim Palmer:

  • Focus on cutting variable expenses (food, entertainment, personal care). “Food is…where I focus when I need my budget in shape quickly.” (29:05, D)
  • Challenge ideas: “A no-shopping month—just say no to everything but the essentials.” (30:37, D)
  • Re-examine all expenses; check for discrepancies (the listener is running ~$1,100/month in the red).

• Sean Pyles:

  • “That’s an $1,100/month discrepancy…they’re technically in the red already.” (30:50, B)
  • Suggests looking for big cuts, possibly in insurance costs or housing.

Optimizing Side Hustle and Temporary Changes

• Funnel all side-income into savings; use main job’s paycheck for current bills.

  • “When you have side gig income coming in, using that to really bulk up your savings can be such a good use.” (32:00, D)

• Remember taxes if side gig doesn’t have withholding!

• Retirement vs. Emergency Fund (Temporary Trade-off):

  • It's reasonable to temporarily reduce retirement contributions to prioritize the emergency fund.
  • “In this situation, pausing some of your long-term goals, including retirement savings, makes a lot of sense.” (33:17, D)
  • Consider still contributing only enough to get the employer match on your retirement plan.

Budgeting Frameworks

• 50/30/20 Rule can be used as a baseline but is flexible.
  • “Some folks…assume it’s rigid. This is just a starting point—you can change the categories as you need to.” (35:49, B)
• Bare-bones budget: Figure out the minimum you need to survive each month, cut everything non-essential.

Irregular Income Strategies

• Pay yourself a set “salary” from your variable income each month.
• High-yield savings accounts for your emergency fund.

Accessible Side Hustles

• Use your skills: Social media management, resume editing, online tutoring, or virtual assistance.
• NerdWallet offers a list of side hustle ideas for quick cash infusion.

Relatable Story

• Kim Palmer's Side Hustle Experience:
  • Ran “Palmer’s Planners” on Etsy to supplement income when her son was born.
  • Now helping her son with his sticker side-business (“That feels like a nice full-circle moment…” 38:56, B)

Memorable Quotes & Time Stamps

• “There’s significant power in the word no.” — Grace Vandecruze (15:06)
• “Wealth is silent, you know…Poor is noisy.” — Grace Vandecruze (17:14)
• “Food is actually my favorite category to zero in on when I need to get my budget in shape really quickly.” — Kim Palmer (29:05)
• “Pause some of your longer-term goals, including retirement savings.” — Kim Palmer (33:17)
• “You can always adjust the 50/30/20 budget framework so it really fits your own needs.” — Kim Palmer (35:15)

Key Takeaways

• Generational Wealth is Intentional: It starts with mindset shifts, clear planning, boundaries, and self-education.
• Emergency Funds are Non-Negotiable: Prioritize short-term security even if that means temporarily reducing retirement contributions.
• Budgeting is Dynamic: Find your bare-minimum survival number and scale back aggressively in a crisis.
• Side Hustles Work: Leverage skills and focus windfalls on savings—side gigs can bridge gaps quickly.
• Legacy Requires Legal & Educational Prep: Wills, family meetings, and teaching money skills are essential for lasting wealth.

Resource Links (as mentioned)

• Link to Grace’s book and article “From Ashes to Assets” (see episode show notes)
• NerdWallet’s side hustle guide (see episode show notes)

If you’re building generational wealth or facing a financial deadline, this episode offers both inspiration and tangible tactics—whether you’re just getting started, starting over, or leveling up your financial safety net.