Podcast Summary: NerdWallet’s Smart Money Podcast

Episode: How to Build Better Money Habits in 2026
Date: January 1, 2026
Hosts: Sean Pyles, CFP® & Elizabeth Ayoola

Episode Overview

In the first episode of 2026, Sean Pyles and Elizabeth Ayoola dive deep into cultivating better money habits for the new year. With a pragmatic yet motivating tone, they guide listeners through setting realistic financial goals, rooting them in personal values, and using behavioral frameworks—including their “SMARTER Goals” method—to maximize follow-through and success. The episode blends practical finance tips, honest personal anecdotes, and up-to-date research, equipping listeners to approach 2026 with renewed financial confidence and intention.

Key Discussion Points & Insights

1. New Year, Realistic Mindset (01:12)

• Skepticism & Opportunity:
  • Elizabeth jokingly dubs New Year’s a "scam," questioning if anything truly changes on January 1st.
  • Sean acknowledges the cycle of hope and ambition that many experience, framing the episode as a way to harness that momentum without falling for “delusions.”
• Quote:
  • “Nothing changes on January 1st. Just another day.” —Elizabeth (01:17)

2. Defining Money Goals for 2026 (03:24)

• Elizabeth’s Goals:
  • Pay off her $4,000 car loan by December.
  • Maintain a high retirement savings rate (30–40%).
  • Increase her income—seeks Sean’s insight on making it actionable.
  • Open more specialized “sinking fund” savings accounts for fun and specific goals.
• Sean’s Goals:
  • Rebuild savings after a costly wedding/honeymoon.
  • Boost emergency fund for increased security.
  • Expand his financial planning business.
• Notable & Light-Hearted Bickering:
  • About opening multiple accounts and maximizing rewards, highlighting their different approaches but mutual encouragement.
  • “Welcome to the sinking funds lifestyle.” —Sean (04:45)

3. 2026 Financial Outlook & Risk Appetite (06:49)

• Survey Highlights:
  • 57% of NerdWallet respondents plan to take “potentially risky” financial actions this year (e.g., investing in crypto).
  • 17% want to buy homes (hosts note this may not be realistic due to market conditions).
  • 20% are eyeing starting a new business.
  • Caution is advised, especially in a tough housing market.
• Quote:
  • “Everyone is just embracing this world of scams and scheming and ripping people off. So, seems like it’s going to be a great year for crypto.” —Sean (07:48)

4. The Psychology of Habits & Anchoring Goals in Values (09:13)

• Start with Values:
  • Both hosts emphasize aligning goals to core values to create lasting habits.
  • Elizabeth’s top values: Freedom, Community, Adventure—she recommends a values “check-in.”
  • Sean distinguishes between “altruistic” (helping others, community resilience) and “indulgent” (enjoying good food and travel) values.
• Practical Reflection:
  • Encourage listeners to walk without headphones to reflect authentically on what matters most.
• Quote:
  • “Listen to our bodies and souls and center what we actually deeply care about. Then you can leverage the way your brain works to accomplish these goals.” —Sean (08:37)

[Memorable Exchange – Elizabeth’s Adventure Fund] (10:26)

• “Sean, you know that I am an adrenaline junkie, and I might want to go bungee jumping tomorrow.” —Elizabeth (10:26)
• Sean encourages her to budget for adventures, not just wish for them.

5. Connecting Values to Concrete Action (11:46)

• Sean’s Actions:
  • Boost emergency fund and investment; increase charitable giving to local marginalized communities; expand indulgence with a “best restaurants” list.
• Elizabeth’s Actions:
  • Stay focused on early retirement by maintaining a high savings rate.
  • Open a “giving fund” account for charitable/community support and gifts.
  • Create a separate account for impromptu adventures, ensuring fun without derailing her main budget.
• Quote:
  • “Money is just a tool to help you live your values.” —Sean (22:08)

Goal Implementation: The SMARTER Framework

6. Framework for Achieving Financial Goals (16:05)

• Acknowledgement of Inertia:
  • Sean notes that people typically struggle not because goals are hard, but because change is uncomfortable.
  • “Inertia, just doing nothing, is a really powerful force. Making real changes to how you manage your money... doesn't always feel great.” —Sean (16:05)

The SMARTER Goals Acronym (17:18)

• Specific – Clearly define the goal.
  • “Max out my Roth IRA contributions in 2026” vs. vague intentions.
• Measurable – Track progress numerically.
  • Example: $625/month to max Roth IRA.
• Attainable – Make sure the goal is realistically achievable.
  • Adjust monthly contributions to fit your budget.
• Relevant – Tie goals to personal values.
• Time-Bound – Set a deadline (e.g., pay off car loan by December).
• Extra R for Rewarded – "SMARTER" not just "SMART"
  • Celebrate milestones with satisfying, meaningful rewards.
  • “Behavioral psychology tells us that the more we enjoy an activity, the more positive reinforcement it gives us, the more likely we are to do it.” —Sean (20:00)
• Elizabeth’s Rewards: Buys herself a nice wig or jewelry; takes herself to solo fancy dinners.
  • “I’m always treating myself, Sean… if I had to think, a treat for me looks like buying a high-ticket item that I’ve been putting off.” —Elizabeth (20:42)

7. Handling Financial Curveballs (21:31)

• Anticipated Disruptors:
  • Impulse spending and unplanned bills (car or kid-related) threaten progress.
  • Sean reminds: budget separately for large, expected bills (like summer camps).
• Practical Solution:
  • Create new savings accounts for big variable expenses.

Actionable Recap & Listener Challenge (22:08)

• Action Steps:
  • Reflect on your personal values.
  • Anchor money goals in those values.
  • Use the SMARTER framework for detailed, achievable, and rewarding goals.
  • Build flexibility for curveballs and reward yourself along the way.
• Quote:
  • “We’d love to hear what you’re planning to accomplish with your finances in 2026!” —Sean (22:31)

Closing Thoughts (23:13)

• Looking Ahead: Episode ends on a supportive, community-driven note—listeners are invited to text or call in their own questions and goals.
• Next Episode Preview: The series continues with refining your 2026 investment strategy.

Notable Quotes & Timestamps

• "Nothing changes on January 1st. Just another day." —Elizabeth (01:17)
• "Welcome to the sinking funds lifestyle." —Sean (04:45)
• "Everyone is just embracing this world of scams and scheming... seems like it’s going to be a great year for crypto." —Sean (07:48)
• "Listen to our bodies and souls and center what we actually deeply care about." —Sean (08:37)
• "Money is just a tool to help you live your values." —Sean (22:08)
• "Behavioral psychology tells us that the more we enjoy an activity, the more positive reinforcement it gives us, the more likely we are to do it." —Sean (20:00)
• "SMARTER Goals: Specific, Measurable, Attainable, Relevant, Time-Bound, and Rewarded." —Sean & Elizabeth (19:18-20:00)

Useful Timestamps

• 01:12 – Opening banter on New Year’s resolutions
• 03:24 – Hosts share their 2026 financial goals
• 06:49 – Discussion of survey: risky moves, buying homes, starting businesses
• 09:13 – Linking financial goals to core values
• 11:46 – Translating values into specific financial actions
• 16:05 – Why goal implementation is hard
• 17:18 – Applying the SMART(ER) goal framework
• 20:00 – The power of rewarding yourself for progress
• 21:31 – Planning for obstacles, impulse spending, and curveballs
• 22:08 – Recap and actionable steps

Tone, Language, and Style

The conversation is warm, candid, and relatable—balancing expert insight with genuine personal stories and a dash of humor. Both hosts are transparent about their own financial missteps and victories, making the advice accessible and motivational rather than prescriptive.

For Listeners Short on Time

• Start the year by reflecting on your values, not just making resolutions
• Anchor money goals to what you truly care about for better follow-through
• Use the SMARTER framework and don’t forget to reward yourself
• Prepare for setbacks by budgeting proactively
• Engage with the Smart Money community—your goals and questions could be featured in future episodes!