Pod Insights The Clark Howard Podcast 03.21.25 Clark Answers His Critics on Clark Stinks / Adult Children And Finances About this episode Friday - Clark Stinks day! Christa shares Clark Stinks posts with Clark. Submit yours at Clark.com/ClarkStinks. Also today - giving money to adult kids can be a tricky subject. Some parents like to give from their estate while still alive, and some feel the need to support their adult children. Clark discusses when and how you should help your adult children with money, without harming yourself financially. Clark Stinks: Segments 1 & 2 Adult Children And Finances: Segment 3 Ask Clark: Segment 4 Mentioned on the show: Medi-Share & other health care sharing ministries: What you need to know before signing up Capital One Venture X Rewards Credit Card: 6 Things To Know in 2025 Why Gen Xers and Millennials Are Giving More Money to Their Kids Than Baby Boomers How to Help Your Kids With Finances When They Move Back Home Why Clark Is Prepared To Break His 'No Debit Cards' Rule Budgeting & Saving Archives - Clark Howard Why Clark Howard Is So Excited About His Wedding Band What Brokerage Do You Recommend for First-Time Investors or Kids? Best 529 College Savings Plans By State Clark.com resources Episode transcripts Community. Clark.com / Ask Clark Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices
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0:41 Speaker 01 Your sausage McMuffin with egg didn't change. Your receipt did. The sausage McMuffin with egg extra value meal includes a hash brown and a small coffee for just $5. Only at McDonald's for a limited time.
0:53 Speaker 02 Price and participation may vary. Promotion pricing may be lower than meal pricing.
1:01 Speaker 03 It's my pleasure to welcome you here to the Clark Howard Show. You know, our mission is to serve you with advice and information that empowers you so you make better financial decisions in your life. And happy Friday. You know what that means? It's time for the weekend. But before we get to that, I get to hear your beef with me in our weekly Clark Stinks segment. Also today, giving money to kids when they're adults is tricky and can be ultimately brutal to your own life.
1:40 Speaker 03 When should you, how should you give money to your adult children that doesn't conspire against you and is actually a smart thing to do? We're going to talk about that. But right now, it's time to talk about where I let you down.
2:00 Speaker 04 I should have never encouraged you to speak.
2:02 Speaker 05 You must think I'm pretty stupid. You should be ashamed of yourself. Well, maybe I'm wrong. Maybe I'm wrong. Maybe you're right, pal.
2:12 Speaker 06 Clark, you stink worse than Limburger cheese on a hot July day in South Louisiana.
2:18 Speaker 03 What is Limburger cheese? You know, this is the second time somebody started a Clark stinks with Limburger cheese.
2:24 Speaker 06 Definitely some kind of smelly cheese. To dismiss all non-qualifying health plans as bogus due to some covering-only superficial small services is uninformed. At least three Christian-based health-sharing groups have more than stood the test of time and offer unlimited coverage for a reasonable price. And they list the three. They are run the way insurance should be run and encourage us to price compare for services and to plan for anticipated services such as colonoscopies. David.
2:51 Speaker 03 David, thank you very much. So, let me explain what a faith-based religious pool is. An organization, it could be Christian or any other religion, can offer a health plan with the separation of church and state that does not meet normal underwriting requirements. And they're risk pools. So, if Krista and I were in a risk pool, we would each be putting in money each month that's the equivalent of kind of like a premium, but it will be a tiny, tiny fraction of what traditional health insurance would cost. And the idea of the pool is the operators of the pool decide what kind of things are
3:36 Speaker 03 covered. And by not having normal underwriting means that if you got unlucky in the pool and too many people in the pool had a chronic or serious illness, like a very expensive cancer to treat or whatever, the pool might go insolvent. So, it is an alternative. It is not the same as regular health insurance. And some religious-based risk pools have stood the test of time. Unfortunately, others have gone insolvent and left people with unpaid bills.
4:15 Speaker 06 As retired CPA, I believe you may have missed an important fact when responding to the new board member of a charity that had not paid some payroll taxes. My understanding, which I had to explain occasionally over the last 50 years, is that board members are personally liable for those taxes. Maybe I'm wrong, but if not, you missed the mark. Thanks for all you do to improve financial literacy. Gary.
4:37 Speaker 03 Gary, thank you. It is a may, not a will, be responsible. And that's why with a lot of nonprofit organizations, to protect board members, the nonprofit obtains an insurance policy to protect officers and directors of the organization. And it is commonplace in any significantly sized charity that people serving on the board are covered by officers and directors kind of coverage.
5:11 Speaker 06 Sorry, Clark, but I have to ask, what does your lecture on using your phone while eating meals have to do with advice and information that empowers you to make better financial decisions in your life, or how to save more, spend less, and avoid getting ripped off? I do agree with everything you said in this segment, but it sure seemed out of place for your mission. Rick.
5:29 Speaker 03 Rick, guilty as charged. I just feel like people are missing so much enjoyment with each other when you look and they're all on their phones. And I ask you, when you're at a meal, see how many people are on their phones. Does it have anything to do with what I'm supposed to be talking about? Not at all. You're right.
5:52 Speaker 06 Unfortunately, you smell like King Charles English Country Garden right after the sheep manure fertilizer is applied. Each year around tax time, you start segments with groans about paying taxes, yet throughout the year, you tell us tax increases are needed, and they are. I approve of good roads and educated citizens and public health and safety and clean air and water, and so many other things our taxes pay for here in DeBrod. My career Army husband is 100% disabled and in a VA memory care residence with stellar, hardworking staff paid for by our taxes and yours. So aren't taxes the price we pay for good things about America? Yes, there's government waste, but having worked with both civil service and corporations, I suggest the waste is greater in corporate environments.
6:37 Speaker 06 So please, Clark, maybe soft pedal the, ugh, taxes rhetoric. And thanks for all the help that you, Krista, and your team have provided my husband and me on our personal finances over the decades. Nancy in and for the USA.
6:50 Speaker 03 Nancy, thank you very much. And as I've expressed prior, I think that we should only spend what we bring in in tax dollars. If people want more services from the government, we need to pay for them. If they want less services from the government instead of paying more tax, that's fine, too. But what we're doing right now is not sustainable. We are running these huge budget deficits, making us a debtor nation. And no great power has ever survived being great when it runs huge deficits that we have to service and pay for.
7:30 Speaker 06 And I'm glad to hear that your husband, thank him for his services, being well cared for at the VA.
7:35 Speaker 03 Isn't that great?
7:36 Speaker 06 Don't always hear great reports about that. So that's good. Over the course of the last couple of months, Clark has spoken of potential financial gains by working part-time for Uber, Uber Eats, Instacart, et cetera. I thought it would be interesting to try working for one of these apps. I signed up for Instacart and worked for about a week. I did enjoy the tasks, even while figuring out that when car expenses were figured in, I was making minimum dollars. While watching a YouTube video on delivering for Instacart, I was shocked to learn that most personal auto insurance would not cover me while engaged in commercial activities. Sure enough, my auto policy excludes commercial activities. I was stunned to learn I drove multiple days without insurance. I believe Uber offers some auto insurance while driving, but Instacart definitely does not.
8:19 Speaker 06 Maybe I've missed it, but I've not heard Clark address this situation. I also checked out commercial auto insurance, but that's not financially viable. I think Clark should address the above, or other listeners may be driving around uninsured, Mike. And then I'm going to read a second one, too, which is about gig work.
8:34 Speaker 03 And I can answer the insurance thing first?
8:36 Speaker 06 Yeah.
8:37 Speaker 03 Okay. This is something we have addressed from time to time on the podcast, that today your auto insurers, you checked your policy, doesn't cover the activity you were doing with Instacart. So it varies from insurer to insurer. None cover you that I'm aware of automatically for Uber and Lyft driving people in your vehicle. Many will allow you to deliver, you know, with one of the food apps and not treat it as an activity that you've invalidated your insurance. It just depends on your insurer. But it's pretty universal now that you can buy an app add-on from your insurer that
9:18 Speaker 03 covers you when you're doing activities, delivering for an app. It's more expensive when you're driving people around. But yes, you're right. You do need to cover that type of activity, or your insurer may choose to say, hey, you were doing this, that, or the other. You're not covered.
9:39 Speaker 06 I remember you mentioned gig work, and a lot has changed in this space. I've moved away from traditional gig apps like Uber Eats, DoorDash, and Amazon Flex. While Amazon Flex and Walmart Spark are well-known, many don't realize that Shipt is owned by Target and offers deliveries from retailers like Target, Best Buy, Costco, Sam's Club, and more. Now I'm driving a Sprinter van, delivering loads from airports and businesses to various destinations in my region. It's a shift from gig work, but the pay and consistency make it worth it. More people are also moving into medical courier work as pay can be better. Companies like Aerospace, USPAC, Capstone, MedZomer, and Roadie owned by UPS are key players in this space. For those looking for contracts, specialized sites like CourierGigs.com
10:22 Speaker 06 and CBD Driver list job opportunities. Craigslist is another good resource, under the job section and then transport. You can find contracts for cars, minivans, and cargo vans. Oh, and get this, some people are delivering Shein orders out of their car or minivan for just $2 per package. Totally not worth it when you consider the time, gas, and wear and tear on the vehicle. Jay.
10:44 Speaker 03 Jay, does Shein give you free clothing in return with each delivery you do? Thank you so much for that post and that's very helpful to people that are looking for side income. You've obviously done your research, done a lot of work in it, and I really appreciate the suggestions you gave.
11:03 Speaker 06 In a recent episode, Clark talked about the option of tipping bartenders and servers with cash on a cruise ship, but Clark forgot about the hardworking housekeeping staff. Whether in a hotel or on a cruise, housekeepers really appreciate tips too and will often do whatever they can to further step up service for customers who do tip. Just make sure to leave the tip in a prominent location in the room and always leave a brief thank you note, making it clear that the money is intended for them. Jim?
11:29 Speaker 03 Jim, thank you very much. And that was, that was my bad that I didn't mention on cruise ships that I tip the cabin attendant always in cash and I do leave a nightly tip in a hotel room. And if it's a small limited service hotel, I leave $2. If it's a big, nice hotel room, I leave $5 because it takes them so much longer to clean it in the hotel room. And that's because I had mentioned offhand on a podcast like two years ago that I leave a dollar in hotel rooms that people should. And then I got pretty slammed
12:10 Speaker 03 saying, "You cheap guy, a dollar is not enough." That I needed to step it up and so I have. And maybe now we're going to hear from people that two limited service, five in fancy hotels is not enough per night either.
12:27 Speaker 06 You don't really stink, but I thought you should mention that the Venture X card no longer just applies the $300 travel credit. You now have to use it by booking through their website and I think that does stink. I don't like to feel trapped into booking through a particular place to get a credit. We will be dropping this card before our year is up, Susan.
12:45 Speaker 03 Susan, may I suggest that if you book through the Capital One Travel Portal an airline ticket and use up the $300
12:56 Speaker 03 The odds are overwhelming that the ticket will be the same exact price through the Capital One booking tool as it is elsewhere. Capital One Hotels, I've found that many times they are more expensive than booking them somewhere else. I've not found that problem with air flights to use the $300 credit. So, I don't think that that alone is a reason to dump the Venture X card.
13:26 Speaker 06 Your show is fantastic and normally you don't stink. However, when you were explaining when it would be okay to buy a timeshare, I immediately had an image of baby Clark curling his upper lip and dropping a stinker in his diaper. You should never, never, not ever buy a timeshare. They are defective, as you have often mentioned. I personally lost over $7,000 over 10 years for a timeshare I inherited and couldn't use due to a seasonal and location restrictions, until I was finally able to sell it using your advice. Timeshares are like a game of hot potato. You don't want to be the one left holding it. It is never good advice to buy a timeshare, even if someone pays you to take it. John.
14:06 Speaker 03 John, thank you. Okay, so why would I even ever say, as much as I say, "Never, never, never, not ever buy a timeshare"? There are people who love them, have experienced them over the years, and want more and want to bargain. So, I gotta tell them that people will pay them to take over their timeshare. Would I take a timeshare that somebody paid me to take over? Never, never, never, not ever. And thank you, everyone who takes the time to post on Clark stinks. I appreciate it so much because it's how I learn.
14:48 Speaker 03 It's how I grow, it's how I give you better advice and then you in turn, many cases, give amplified advice where I was incomplete or whatever and give better advice than I did. And I appreciate it so very much every single time, which is why I look forward to it so much because I don't want to be stuck in a rut. I want to get steadily better if I can at what I do. Coming up ahead, I want to talk about a conundrum going on. So many parents are giving money to their adult children. Sometimes it's harm to themselves,
15:31 Speaker 03 sometimes not. We got to talk about that.
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15:47 Speaker 02 Pricing participation may vary. Promotion pricing may be lower than meal pricing.
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17:21 Speaker 03 Survey says that nearly half of adults are supporting their adult children financially. Different surveys find different numbers. You know, a third, 40%, half, whatever. So let's say, let's keep it simple. Somewhere between a third and 40% of parents are supporting their adult children. And it's very, very common with parents in their 50s or approaching retirement are giving big financial support to adult children. That can be okay, and that can be a disaster.
18:02 Speaker 03 Because if you yourself as a parent can't put aside enough money for your own retirement, then what's going to happen? You're going to keep working and your kids are going to say, gosh, wish mom and dad had saved more money so they wouldn't still be working at this point. Clueless. Kids at any age are clueless about what their parents have done for them. So this is a thing because it's expensive for kids to establish themselves in life. But you got to think through. When doing something from your heart is too harmful to your life.
18:48 Speaker 03 So let's say you're doing great financially. You're on a glide path for retirement, nothing to worry about. You want to help an adult child? Fine, you know, you can give them 19,000 a year without any implications at all tax wise for the giver or recipient. In fact, any human in the United States can give any other human 19,000. Oh, thanks, Krista. No, anyway, anybody can give up to 19,000 and it's no harm, no foul. It's just money you give somebody. Government doesn't care. You're good. And so giving kids money as adult kids now, instead of when you die,
19:33 Speaker 03 if you can afford to do so is a great thing. Nobody's going to be able to stop working because you gave them an amount up to $19,000. But you might be able to help them improve their lives or save for retirement where they're not right now because they're so stretched in their financial lives. Fine, but when giving that money is not fine for your own financial health, that's when you really got to think this through as a parent. And parents do this all the time. They harm themselves financially to help their kids. And a lot of times you're not happy what your kids are spending their money on. That you may think they're squandering it on this or that.
20:16 Speaker 03 How about you sacrifice to give money to your kid? And you're driving an old beater car and your kid who claims poverty and gets money from you goes out and buys a brand new car. Let me tell you, that happens. So I want you to really think before you act because emotionally we want the best for our kids. But sometimes when you're trying to do best for your kids, you do self harm, at least financially. Don't do more than you should based on your own financial health, period.
20:59 Speaker 03 I just keep hearing this, Krista.
21:00 Speaker 06 I'm sure.
21:01 Speaker 03 Why do you hear such passion from me? Because I keep hearing about people who can't retire because they kept giving, giving, giving, giving to their kids, who appreciate it less than you might think.
21:16 Speaker 06 Let's go to some questions here. This one's from a mom, Meg in Ohio. My daughter is attempting to get better at budgeting and finances as a whole. She's used to spending and not paying attention to how much is going out from what she brings in. She had credit cards that I just paid off so she can pay me back without interest and get a fresh start. She has put away the cards and is only using her debit card. She's about to put $500 she received from family in a fidelity account, a Roth IRA, and can contribute and be matched 3% with a 401k through work. What advice do you have for her to start paying attention to her finances and pay herself in bills first, then work with what's left over? As you know, personal finance was a bust in school.
21:58 Speaker 06 She has been out of college a while, but she's not yet 30. Also, the debit card, as you've said, is not as good as the credit card for safety and credit score reasons, but we don't want her to get into that hole again.
22:09 Speaker 03 Yeah, I think the debit card is not a good product because of the lack of consumer protections. But in a case like your daughter, it's the right product. And she can't get herself into trouble and into more debt with it. What you don't say is, is she on a payment plan with you to pay back? Or it's just intentional that at some point she's going to pay you back without interest? I think she needs to budget and be in the habit right now of starting to pay you back for the money that you took out of your hard-earned savings and paid off the credit card balances,
22:52 Speaker 03 so that she is then in a pattern of living on less than what she makes. You know, she contributes the small amount to the 401k to pick up the employer 3% match, good. But you asked me, what should she be about? It's all about her, in a situation like hers at near 30 years old, doing something people look at as confining, but is actually liberating, and that's to use a budget. And we've got a guide to various budget apps and tools at Clark.com. She needs to face every month where her money's going and use that as a way of building up
23:37 Speaker 03 the concept of these are the must pays, these are the want to haves, and think about money in priority. So she is more in control of where every dollar goes. If you don't see it, when you've had a problem with spending, you don't see where that money's going, it's harder to have the discipline and more control.
24:03 Speaker 06 This is from Sean in Iowa. I'm in my 30s and have young children. I've ignored the need to prioritize my long-term health, but it has recently become a big priority of mine. I exercise regularly and eat somewhat well. I recently had my annual physical and asked for extra critiquing from my doctor, but I would also wanted to ask you, what are some of the general tips you would recommend to promote long-term health outside of exercise? Thank you so much for everything you do. I'm in the financial services industry and recommend your podcast to clients almost daily. The world needs more Clark Howards in it. I agree.
24:38 Speaker 03 Sean, that is so kind of you to say. And let me say to you about your health. You're already doing what studies show is the most important thing, and that is exercising regularly. You say you eat somewhat well. Let me tell you the truth, until the last few years, I ate the worst of anybody you'd ever seen. I mean, think of a prototypical teenage boy and how badly they eat. Here I am. I'm a teenage boy with how I eat. And as in my case, what happened was the failure of my aortic valve in my heart.
25:19 Speaker 03 Was what put me on a new path to eating and everybody around me and my family particularly is shocked at how differently I eat now and how I pay attention to it. So what you eat is really, really important. But I'd say there's a third factor as well, and that's having a consistent, good sleep pattern. When you look at what will cause your health to deteriorate over time, having irregular sleep patterns and not getting enough sleep at night is something that will really cost you.
25:56 Speaker 06 Yeah, and having young kids, that can be tough, but...
25:58 Speaker 03 Having young kids is hard. But you know, one of the things, I wear this Oura health ring, and I've had it on five years plus now, and it has changed my sleep like nothing else has. I sleep so much better than I used to. My Oura being the meanest nag ever, my sleep has dramatically improved.
26:21 Speaker 06 So the Oura doesn't make you sleep better, but it gives you tips?
26:25 Speaker 03 Yeah, it doesn't give you a drug or anything.
26:27 Speaker 06 It's not magic, yeah.
26:28 Speaker 03 It is magic.
26:29 Speaker 06 Okay.
26:30 Speaker 03 Oura ring is what it's called.
26:32 Speaker 06 Elizabeth in Connecticut says, "My son is three years old and I've been collecting and returning cans and bottles for the 10 cent refund." My son helps-
26:39 Speaker 03 10 cents? What state pays 10 cents, you say?
26:42 Speaker 06 She's in Connecticut.
26:43 Speaker 03 Oh my goodness, 10 cents a can or bottle?
26:46 Speaker 06 My-
26:47 Speaker 03 This is a new part-time job for me. I'm moving to the tri-state area. I'm gonna go to Connecticut. This is great. You think I'm kidding?
26:53 Speaker 06 My son helps me put them into the machine and I, I let him have the money, which we put in his piggy bank. Would it be best to deposit this money into his 529 account? Also, what is the best age for him to have a savings account of his own? And what funds do you think are most appropriate to go into savings versus his 529?
27:15 Speaker 03 Okay, I love it that you've got your three-year-old working already. That's a wonderful thing. And yes, I think it would be great to put the money split 50/50. Half of it in a custodial savings account with one of the online banks. And when he's old enough to really get the concept, you show him the money that he saved and what it's grown to, and the other half in the 529. I think putting it all in the 529 obviously is a practical, great answer, but a kid seeing the value of work, the benefit of work, the benefit of savings, when it's age-appropriate, I love it.
27:57 Speaker 03 And 10 cents a can or bottle? Wow. You know, when they used to have those carts at airports that you got 50 cents to return them, and most business travelers, they don't care, it's corporate money, would just leave them by their car and drive off. When I had a time, I would collect them, return them, and get the money, 50 cents a pop. And they don't do that anymore. I hate that. But anyway, earn every penny, save every penny. And thank you so much for joining us. I hope you have an absolutely wonderful weekend in front of you.
28:37 Speaker 03 I appreciate so much having you here, contributing to our show, being a part of Team Clark. And this weekend, when you need information, when you need answer to a question about your wallet, give us a shot at giving you that booster shot you need for your wallet at Clark.com or ClarkDeals.com. And know what we're all about is you learning ways to save more, spend less, and avoid getting ripped off. See you Monday.
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