Smart Money Podcast: Rethinking Credit Reporting, and Lightning Round Money Questions

Liz Weston, Sean PylesJul 19, 2021

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Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions.

This week’s episode starts with a discussion about flaws in the credit reporting system.

Then we pivot to answering a number of listener questions, including how to manage taxes while working remotely, when to get a financial advisor and how to find a high-yield savings account.

Check out this episode on any of these platforms:

Credit reports often have error and are difficult for consumers to navigate, yet they're all too accessible to identity thieves. Congress and regulators need to step up to resolve these issues. In the meantime, it's up to us to check our credit reports and dispute errors. You can access your credit reports from the three main credit bureaus — Experian, Equifax and TransUnion — for free weekly until April 20, 2022. You can find your reports at annualcreditreport.com. And if you find errors in a report, .

When it comes to , check the rules of the state where you live and work. Make sure your withholdings are set up correctly so that you can avoid a tax bill. And if you have a job where you can work remotely, consider taking advantage of the opportunity to move to a dream location — or maybe just one with a lower state income tax.

If you’re in the market for a , know where to look — and maybe lower your expectations. Given how low interest rates are right now, there aren’t many accounts that offer a truly high yield. But these accounts will give you a better return than if you keep your cash in a traditional checking account. Shop around online for the best high-yield savings account for your needs.

On the topic of finding a financial advisor, it’s a good idea to consult with one when your finances reach a level of complexity that you don’t feel comfortable managing on your own. Look for fee-only . Fiduciary advisors are legally obligated to put your financial interests first — not all advisors are required to do so.

Have a money question? Text or call us at 901-730-6373. Or you can email us at . To hear previous episodes, go to the

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