NerdWallet's Smart Money Podcast
Recover from Vacation Overspending and Avoid Costly Rental Property Management Mistakes
Mon, 02 Jun 2025
Reset your vacation budget and learn about the real work it takes to manage a rental property as a new or aspiring landlord. How can you get back on budget after overspending on vacation? What should you know before turning a home into a rental property? Hosts Sean Pyles and Elizabeth Ayoola discuss navigating the financial aftermath of travel and break down the real-world expectations of becoming a landlord. Joined by Lisa Green, NerdWallet writer and experienced rental property owner, they discuss the practicalities of managing a rental and share firsthand budgeting wins and miscalculations from recent international trips. They begin with a discussion of post-vacation budget resets, with tips and tricks on embracing no-spend months, identifying emotional spending triggers, and realigning with financial goals. Then, Lisa Green joins Sean and Elizabeth to discuss rental property ownership. They talk about what it takes to manage a property, the role of property managers vs. DIY, and how taxes, legal structures, and financing strategies work when building a long-term rental portfolio. In their conversation, the Nerds discuss: how to manage a rental property, post-vacation budgeting, rental property taxes, passive income rental property, cost of property management, rental property depreciation, rental property LLC pros and cons, travel spending budget tips, managing a rental from afar, all-inclusive vacation budgeting, is passive income really passive, how to budget for vacation, how to rent out your house, first-time landlord advice, LLC vs trust for rental property, owner-occupied rental property, how to start a rental property business, multifamily property investment, rental property tax benefits, short-term loan for real estate, rental property umbrella insurance, refinancing a rental property, how to avoid selling your house, budgeting after vacation, rental property record keeping, rental property write-offs, and how to buy your second property. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices
How can you reset your vacation budget after overspending?
You can actually enjoy your spending. And when else am I going to have a road trip around the UK, having time with my friends, enjoying it? I think it's okay that I went a little outside of my budget because I know I'm not going to be doing that every single day of my life.
Yeah. And the experiences that you got are invaluable, right?
Yes. And so are all the photos I was posting on Instagram.
And we need more. You guys follow Sean on Instagram so you can see some pictures.
Follow me on Instagram. Sean Piles on Instagram. I have lots of photos of my garden, lots of financial tips. But wait, Elizabeth, I had just had this vacation of my own, but you also went on a trip to St. Lucia recently. I want to hear a little bit about that.
I went to St. Lucia and to date, it is my favorite island. And I'm not a huge going back to a destination twice girl because the world is so big, but it is definitely a destination I'd love to go back to again. The highlight of it, which Sean was a little shocked when I told him, but I actually went on an ATV tour around a St. Lucian village and it was incredible.
There were a few moments where I thought I might just tumble off this ATV and roll down the mountain and And then I might be dead. But, hey, it didn't happen because I'm here talking to you all. But it was incredible.
For the record, I'm all about a fun, beautiful tour of a tropical island. I'm not about ATVs for the death trap reason that you just outlined. Maybe find a safer way. Maybe get on a horse or have a little moped moment. ATVs themselves, not a fan of.
It may be a little obnoxious to say, but I just don't think that's how I'm going to die. I don't think it's going to be on an ATV or jumping out of a plane like I did in December or ziplining like I did a few weeks ago. I just don't think so.
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