So Money with Farnoosh Torabi

Many parents believe college now costs $100,000 a year. But the truth is far more complicated.

Today on So Money, I’m joined by Ron Lieber, longtime New York Times “Your Money” columnist and author of the bestselling book The Price You Pay for College. Ron has spent years investigating how college pricing really works—and why the “sticker price” is often not the price families actually pay.

In our conversation, Ron explains why the most important question isn’t how to save for college or even how to pay for college.
It’s this: What should you actually pay?

In this episode, we discuss:

• Why the $100,000 college headline can be misleading
• How merit aid scholarships really work
• Why colleges quietly compete for students with discounts
• How families can ask for more aid (without turning the process into a battle)
• The surprising story behind the merit-aid “arms race” in higher education

Learn more about Ron's course and get his free checklist: Understanding Merit Aid

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For many women, the word “millionaire” can still feel uncomfortable. Not just financially, but culturally. Many of us weren’t raised to imagine ourselves as wealthy, powerful, or building seven-figure net worths.

My guest today wants to change that.

Bola Sokunbi is the founder and CEO of Clever Girl Finance, one of the largest financial education platforms for women in the U.S. She’s a Certified Financial Education Instructor, a six-time bestselling author, and her newest book is Clever Girl Millionaire.

What I appreciate about Bola’s approach is that she doesn’t frame wealth as a quick win or a social-media highlight reel. Instead, she focuses on the real path to building wealth: intentional decisions, consistency, and the courage to think bigger about what’s possible.

Bola’s own story is deeply personal. She grew up in a Nigerian immigrant household where resilience and sacrifice were part of everyday life. Her mother left a successful career as an investment banker in Nigeria and came to the U.S. to start over as a nanny so her children could pursue opportunities here.
That experience shaped how Bola thinks about money, opportunity, and something we explore deeply in this conversation: legacy.
Because wealth isn’t just about reaching a number in your bank account. It’s about asking bigger questions:

What do you want your money to represent?
Who do you want it to help?
What changes because you existed?

In this episode, Bola and I discuss:

• Why the word “millionaire” still intimidates many women
• How to build wealth even if you’re starting from debt or living paycheck to paycheck
• The mindset shifts required during uncertain economic times
• Navigating family obligations and financial pressure, especially in immigrant households
• And why legacy isn’t just about money — it’s about impact.

Bola's Website: https://clevergirlfinance.com
Bola' New book: https://www.clevergirlfinance.com/clever-girl-millionaire/

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As promised, I’m re-airing one of the most requested interviews from the archives: my conversation with Nate Berkus, originally recorded in 2015—ten years ago.

A lot has changed for Nate since then, but when I listened back, I was struck by how timeless this episode is—especially right now. My mother-in-law and I are huge fans, and for my birthday she gave me Nate’s latest book, Foundations: Timeless Design That Feels Personal. And that’s exactly the theme you’ll hear in today’s conversation: your home should tell your story—and your money should support a life that feels authentic.

We talk about money fear versus abundance, building a business, learning when to ask for help, and Nate’s surprisingly great financial habits—including his rule about keeping your wallet organized as a form of respecting money.

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Today’s guest is someone who has been shaping the personal finance conversation for nearly two decades — long before money podcasts were mainstream, long before “side hustle” was a buzzword, and long before financial literacy for women was framed around building wealth instead of just clipping coupons.

Laura Adams is the host of the wildly successful Money Girl podcast, a show that has been downloaded more than 43 million times and ranks among the top 0.1% most popular podcasts globally. In just about 20 minutes each week, Laura does something that’s incredibly difficult: she makes complex personal finance and small business topics feel approachable, actionable, and even fun.

You’ve seen her everywhere — ABC World News, CBS, NBC, Bloomberg, NPR — and today she’s here with us on So Money.

In this conversation, we dig into how financial advice for women has evolved over the years — from focusing on saving pennies to thinking about legacy, ownership, and long-term wealth. We talk about solopreneurship and side hustles — what it really takes to build a one-person business that doesn’t just generate income, but supports your life. And with interest rates expected to gradually decline into 2026, Laura breaks down what that could mean for refinancing, home buying, and smart positioning right now.

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