NerdWallet’s Smart Money Podcast

Episode: How to Budget Better With Your Partner and Why Scam Calls Are Surging
Date: October 30, 2025
Hosts: Sean Pyles (D), Elizabeth Ayoola (B), Ana Helhosky (C), Guest: Eva Velasquez, CEO of Identity Theft Resource Center (A), Listener: Jay Leong (E)

Episode Overview

This episode of the Smart Money Podcast tackles two essential personal finance issues: the recent surge in scam calls and texts—why it's happening and how to protect yourself—as well as practical, real-world advice for couples struggling to get in sync on budgeting. Guest experts join the roundtable to share insights, strategies, and actionable tools, and listener Jay Leong brings a relatable budgeting dilemma to the table.

[00:42] Money News Roundup: The Surge in Scam Calls

The Problem

• Hosts and guest Ana Helhosky share a sudden increase in scam/spam calls and texts experienced by themselves and people in their circles.
• The likely cause: The government shutdown led to suspension of the FTC’s Do Not Call registry and fraud reporting services. This absence of oversight creates an “open season” for scammers.

[03:18] Expert Insights from Eva Velasquez (Identity Theft Resource Center)

Eva Velasquez:
“It’s really bad out there right now.” [03:18]

Most Common Scams During the Shutdown

• Imposter Scams: Bad actors pose as government agencies or officials, preying on uncertainty about what's open/closed and benefits status.
• Fake Aid/Grants: Offers targeting furloughed workers or those seeking government goods/services, claiming “special access”—all scams.
• Email Flood: A noted uptick in phishing emails riding on confusion.

Quote:
“They love to capitalize on uncertainty and consumer confusion and public confusion… If a government agency is closed, they’re closed. No one can get in touch with them.” [03:32–05:12]

Clever & Dangerous Tactics

• Deepfakes, AI, Voice Cloning: Technology has outpaced the average person’s “radar” for red flags in communications.
• Imposter Calls: Fake law enforcement threats, demands for banking info or fund transfers, all leveraging fear and urgency.

Advice:
“I am encouraging people to no longer rely on their own radar… Go to the source and verify.” [05:21]

What To Do If You’ve Been Scammed

• Warning signs: Exchanging money or sensitive credentials (passwords, logins) with someone, especially after unsolicited outreach.
• Recovery: Contact the Identity Theft Resource Center (ITRC) for personalized, step-by-step help – a free, non-governmental resource.
• Money Lost: Realistically, once money is sent, it’s usually gone—especially outside of credit card protections.

Quote:
“Most of the time in a scam, if you’ve parted with your money, that money is gone.” [07:15]

Will Scams Decrease Post-Shutdown?

• Scams “squeeze the balloon”—they shift focus but rarely disappear. Temporary drop expected, but a “new, elevated baseline” is likely.

Quote:
“We liken fraud to squeezing a balloon. Once you clamp down in one area, it just moves to another.” [09:30]

Consumer Protection Tips

• Don’t Engage: You’re not obliged to reply to calls, emails, or texts. “You have a choice.”
• Pause Before Acting: Scammers exploit emotional, fast reactions.
• Seek Support: If unsure, consult a trusted friend or the ITRC before taking action.

Quote:
“You don’t have to engage with all of this incoming information… Allow yourself the space to be thoughtful.” [10:50]

Memorable Takeaway

• Eva Velasquez: “Don’t keep it to yourself.” [11:57]

[14:02] Listener Money Question: Budget Battles with Your Partner

The Dilemma

Listener Jay Leong asks how to align budgeting styles with his spouse, whose procedural, detail-oriented approach clashes with his preference for big-picture, data-driven methods.

Jay:
“How do I get on the same page as my spouse, who thinks very different from me when it comes to budgeting?” [14:07]

Their Approaches

• Jay: Engineer, loves flexible problem-solving & spreadsheets, prefers tracking overall balances.
• Spouse: Hospital lab technologist, values routine & procedure, wants to see every transaction logged.
• Tried both styles, but neither method stuck.

Current System

• Multiple bank accounts (car fund, school, vacation, mortgage, personal), mainly with auto-transfers.
• Admits to “overspending” (dining out, kids’ stuff) and feeling like income vanishes.

Quote:
“I feel like I make too much money and it’s all gone.” [19:00]

[19:15] Building Better Habits and Systems

The 50/30/20 Approach

• Sean: Introduces the 50/30/20 budget as an elegantly simple solution—50% needs, 30% wants, 20% savings/debt.
• Jay hesitates due to transaction categorization and failure with budgeting apps.

Quote:
“My wife’s idea of watching every transaction became too cumbersome. It was hard to maintain.” [20:08]

Getting to the Root: Values and Goals

• Elizabeth: Asks if the couple has discussed money values and goals; suggests this as a foundation for compromise.
• Jay realizes he's never articulated “financial values”—the “why” behind their spending—beyond vague wants.

Quote:
“I don’t know what a financial value is.” [22:10]

• Elizabeth: Explains that current spending reflects intrinsic values (food delivery = convenience, vacations = experience-collecting, collectibles = fun).

Quote (Sean):
“People often say that budgets are value statements. So where you’re directing your money currently is a reflection of your value.” [22:41]

Action Steps & Tools

• Start with a ‘Money Date’:

  • Low-pressure, non-judgmental time to review account statements together, talk about what each person values, set 1–2 short-term financial goals. [23:20–24:41]

• Try Apps Again (with a Twist):

  • Consider couple-centric money apps (Monarch Money suggested at [29:34]), linking accounts for shared categorization, and use of “pretty pictures” for a visual overview.
  • If that’s too much, do a manual 30-day spending diary (write down every expense, categorize needs/wants).

Quote (Sean):
“There’s something that’s really powerful in doing it manually yourself, because you have to take an action every time you spend your money. It makes you very conscious of your spending.” [30:42]

Addressing 'Wants' Becoming 'Needs'

• Some “needs”—like kids’ activities—are really “elevated wants.” Re-examine contracts, recurring bills (insurance, subscriptions), and be willing to challenge prior assumptions. [27:21]

Individual Spending Accounts

• Jay and spouse have personal checking accounts, but lines blur between personal and joint expenditures, further complicating the system.

Consistency is Key

• Elizabeth: Normalize that budgeting is an ongoing, iterative process—periods of success alternate with learning moments. Don’t get discouraged by setbacks.

Quote:
“Experimenting is okay. Trying different things is okay, just about being persistent. And you’re already one step ahead because you’re aware what needs to change...” [33:25]

Key Timestamps & Notable Quotes

| Timestamp | Topic/Quote | Speaker | |-----------|-------------|---------| | 03:18 | “It’s really bad out there right now.” | Eva Velasquez | | 05:21 | “I am encouraging people to no longer rely on their own radar... Go to the source and verify.” | Eva Velasquez | | 07:15 | “Most of the time in a scam, if you’ve parted with your money, that money is gone.” | Eva Velasquez | | 09:30 | “Once you clamp down in one area, [fraud] just moves to another.” | Eva Velasquez | | 10:50 | “You don’t have to engage with all of this... Allow yourself the space to be thoughtful.” | Eva Velasquez | | 14:07 | Listener question about clashing budgeting styles with spouse | Jay Leong | | 19:00 | “I feel like I make too much money and it’s all gone.” | Jay Leong | | 22:41 | “Budgets are value statements. So where you’re directing your money currently is a reflection of your value.” | Sean Pyles | | 23:20 | “A money date... an insightful place for you to learn more about your money values to map out... financial goals.” | Elizabeth Ayoola | | 30:42 | “There’s something that’s really powerful in doing it manually yourself... It makes you very conscious of your spending.” | Sean Pyles | | 33:25 | “Experimenting is okay... just about being persistent. And you’re already one step ahead because you’re aware what needs to change...” | Elizabeth Ayoola |

Takeaways, Advice & Next Steps

Scam Protection

• Don’t respond to unsolicited communications; always verify via independent, official channels.
• Contact the Identity Theft Resource Center for support if scammed.
• Be extra vigilant during government shutdowns or periods of regulatory lapses.

Couples & Budgeting

• Start with shared conversations about financial values and goals, not just tactics.
• Utilize separate personal accounts as well as joint “buckets” with clear intentions.
• Experiment with both tech tools and hands-on methods until the right system clicks.
• Consistency and open communication are more important than choosing “the best” tool or method.

Memorable Moments

• Jay’s revelation about “financial values” as a missing puzzle piece to his family budgeting.
• Sean’s perspective on how small recurring wants (e.g., kids’ activities) can masquerade as needs and blow up a budget.
• Elizabeth’s encouragement that persistent, even imperfect, efforts at budgeting will pay off over time.
• Eva Velasquez’s urgent reminder not to “keep it to yourself” if you’ve fallen victim to a scam.

For more resources and to ask your own questions, contact the Nerd Hotline at 901-730-6373 or write to podcasterdwallet.com.

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