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Money Rehab with Nicole Lapin

How This Government Shutdown Will Affect Your Wallet

02 Oct 2025

Description

Today, Nicole explains why the government shut down, how long it may last, and how your wallet will be affected. This podcast is for informational purposes only and does not constitute financial, investment, or legal advice. Always do your own research and consult a licensed financial advisor before making any financial decisions or investments. All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC.  *APY as of 6/30/25, offered by Public Investing, member FINRA/SIPC. Rate subject to change. See terms of IRA Match Program here: public.com/disclosures/ira-match.

Audio
Transcription

Full Episode

0.031 - 19.876 Nicole Lapin

What is your bank doing for you? And how much is it costing you? That's a serious question, because if they're charging you $8 a month with zero extra services, I've got to stage an intervention here. What are you paying them for anyway to hold your money for you? You deserve better. That's what I love about Chime. There are no monthly fees, no maintenance fees.

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20.016 - 41.091 Nicole Lapin

My younger self would have definitely benefited from this. It's not just the no fees thing. It's what they have to offer you, too. If you set up direct deposit, you can get paid up to two days early automatically. And with qualifying direct deposits, you're eligible for free overdraft up to $200 on debit card purchases and cash withdrawals. Plus, they have over 47,000 fee-free ATMs.

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41.071 - 55.799 Nicole Lapin

So seriously, ask yourself, what is your bank doing for you and just how much are they charging you to do it? And if the math isn't mapping, think about making a change. Work on your financial goals through Chime today. Open an account in just two minutes at Chime.com slash MNN.

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56.2 - 69.028 Chime/advertiser voice (Disclaimer)

Chime feels like progress. Chime is a financial technology company, not a bank. Banking services and debit card provided by the Bancorp Bank N.A. or Stride Bank N.A. Members FDIC. Spot me eligibility requirements and overdraft limits apply. Timing depends on submission of payment file. Fees apply at out-of-network ATMs. Bank ranking and number of ATMs according to U.S. News and World Report 2023.

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69.088 - 70.01 Chime/advertiser voice (Disclaimer)

Chime checking account required.

70.03 - 80.269 Nicole Lapin

One of the smartest financial moves you can make is working with a certified financial planner instead of trying to wing it solo. Domain money CFP professionals don't just hand out generic financial advice.

80.429 - 92.803 Nicole Lapin

They help people get on track for early retirement, fix messy investment allocations, and figure out the perfect timing for major purchases like buying a house or, gosh, I don't know, growing a family, asking for a friend. Yes, I am that friend.

93.063 - 103.815 Nicole Lapin

In fact, my husband and I actually just talked to Adriana Adams, head of financial planning at Domain, on the podcast, and she had this advice around what to do to set our daughter up for financial success.

103.795 - 124.47 Adriana Adams

So there's three things that I would prioritize. The first one is saving for your own future, because the best gift you can give her is to not be a burden later in life. And the second thing is life insurance, which I know sounds morbid and is not fun. I'm a huge fan of cheap term life insurance.

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