Money Rehab with Nicole Lapin - Money Hacks for Hot Girl/Hot Guy Summer

Episode Date: June 28, 2021

If you’ve been wanting to take an inaugural post-pandemic vacation, but aren’t sure how to get the most bang for your buck, this episode is for you! Today, Nicole breaks down how to have the summer we’ve all been waiting for, without breaking the bank. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

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Well, it doesn't. Charge for wasting our time. I will take a check. Like an old school check. You recognize her from anchoring on CNN, CNBC, and Bloomberg. The only financial expert you don't need a dictionary to understand. The Cole Lappin. Summer officially started on June 20th.

Yay! And after the year we've all had, it is time for some fun in the sun. I always have loved summer. I grew up in LA. I didn't even own socks until I went to college. But it hits different post-pandemic. Honestly, I don't think the country has needed to let loose this badly since prohibition ended. But just because some social restrictions are lifting doesn't mean you should totally lift the restrictions on your wallet. Money rehabber

Ali writes in with this question. Hey, Nicole. I know people are saying things are, quote, getting back to normal, but from a money perspective, are they actually? I don't know if I should be spending money like I have been in quarantine or this summer should I be thinking about my spending differently? Thanks. So, Allie, as far as I can tell, when it comes to money and everything else, the world won't be exactly as it was before the pandemic. But things will at least look a lot more familiar than they did a year ago when you had to budget for overpriced hand sanitizer and toilet paper. For starters, we can finally seek out experiences that we had been missing out on for over a year, like going to see concerts, sports games, going out to dinner, or going out of the country. But while we can have those experiences again, the prices are going to be really jacked up.

These industries that rely on ticket sales have to make up for a lot of lost time. But that doesn't mean you can't have that summer that you want and the summer you deserve. So, Allie, here are five money hacks for your hot girl summer or hot boy summer for you fellas out there. Number one, book yesterday. Domestic flights should peak on July 4th and international flights will peak at the end of June. Really try to look ahead for the year and plan trips that you might have later on for weddings or birthdays. The restrictions on changing travel plans have eased up, which is good news, so it's better to change or cancel a flight than be stuck with booking super expensive flights last minute. But my psychic finance senses are

tingling and I do foresee change fees getting reinstated later this year. So book while the rules are still flexible. And when you do make those reservations, don't forget to take screenshots of the cancellation policy that you were given just in case the cancellation policy changes between the time you book and when you travel, I want you to have all the documentation. Number two, use them or lose them. The time is now, my friends, to cash in on your miles, your points, and your travel vouchers. Because we weren't paying in cash for the last year, you probably racked up a bunch of points. A general rule of thumb is one cent per point.

So $250 equals 25,000 points. Airline tickets are the best bang for your buck, or rather, point. But you will have a limited time to use them, and it's better to use them ASAP because many airlines are now devaluing their points. If you canceled a flight during the pandemic, many airlines are now devaluing their points. If you canceled a flight during the pandemic, look at the book by and travel by dates. Call now and ask for an extension if you need one. Then send yourself a calendar reminder or invite for those dates because there's nothing worse than missing out on getting rewards that you were owed because you forgot. And by the way, all the best advice on booking travel and taking advantage of points can be found in my episode of Money Rehab with Brian Kelly, aka The Points Guy. If

you don't listen to that episode, you are probably losing out on some money. I'm just saying, he's a points genius. Number three. If you're planning a trip and you need to do a little bit of shopping, don't forget to swipe your FSA card. Sunscreen, aloe vera, bug bite lotion, contact solution, hand sanitizer, motion sickness meds, eye masks, allergy meds, all FSA eligible. Go to FSAstore.com and see where you can save big on the things that you need to pack for your ultimate summer getaway. Number four. Think about renting versus buying. If you're thinking about going glamping or doing any sort of outdoorsy stuff, you may be tempted to BYO fishing rod. Don't do this. There's a lot that you can rent for a one-time thing. Or if you think it's going to be a regular thing, but deep down, you know it's not going to be. Yeah, maybe you think you're going to be a regular thing, but deep down, you know it's not going to be.

Yeah, maybe you think you're going to get super into mountain biking and you need to buy the best mountain bike. But are you really? Let's just test it out before over committing to a $2,000 bike. Things like camping gear, kayaks, paddle boards, even power tools are all rentable. Number five. Before you hit the beach, sit down and go over your spending plan. I know, now that you can finally go outside and soak up the sun, going over your bank statements is probably the absolute last thing you want to be doing. But it really is more important than ever to make sure that you have your spending plan in check. We've just saved countless of dollars eating in and not going to Coachella and whatnot, but now those things are possibilities again, and I know we're super eager to do all of them. It's like our first grade selves are coming out

again for the last year. Our teacher has been telling us not to play outside, and now all we want to think about is playing outside, right? A lot of us are going to be overwhelmed by the possibilities, and all those possibilities do have price tags. So please don't blow all the money you save during quarantine. Of course, you do deserve to treat yourself, but make sure those treats are not costing you more than the 15% we dedicate to extras in our spending plan. Check out our episode, How Do I Make a Fucking Budget? If you need a little refresher on how to make just that. For today's tip, you can take straight to the bank. When it comes to your hot girl or hot boy

summer or your shock girl summer or whatever does it for you, we want to get vaxxed and keep stacks. If you've been waiting all year long to take that vacay, then do it. But set up alerts on discount travel sites so you are the first to know when something is on sale. But when it is, don't dilly dally. These prices are going to spike, so you gotta pounce. Money Rehab is a production of iHeartMedia. I'm your host, Nicole Lappin. Our producers are Morgan Lavoie and Catherine Law. Money Rehab is a production of iHeartMedia. I'm your host, Nicole Lappin.

Our producers are Morgan Lavoie and Catherine Law. Money Rehab is edited and engineered by Brandon Dickert with help from Josh Fisher. Executive producers are Mangesh Hatikader and Will Pearson. Huge thanks to the OG Money Rehab supervising producer, Michelle Lanz, for her pre-production and development work. And as always, thanks to you for finally investing in yourself so that you can get it together and get it all. money, money, money, money, money, money.