Author: Laura Adams, MBA

A Money Girl podcast listener named Piper says, “I’m a big fan of your podcast and want some advice before moving forward with my finances. I’m 23 years old, just started my first job, and make $60,000 with an extra $9,250 as reimbursement for traveling full-time. I have student debt and really want to get rid of it. But I also want to contribute to a Roth, save for emergencies, and buy a car. My company matches up to 6% on retirement contributions, so I was planning on contributing that much and paying off my loans at the same time.…

The latest episode of the Money Girl podcast was inspired by an email I received from Dave K. in New York. He says: “I know you generally recommend against closing credit cards so your average credit age isn’t adversely affected. However, is there a downside to opening a credit card to take advantage of a promotion (such as getting $200 for spending $1,000 in the first 90 days) and then closing it a few months later? It seems that strategy would preserve my credit age.  Also, is my credit score negatively affected by having too many credit cards, even if…

Fidelity Investments recently announced that it would be the first major retirement plan provider to add cryptocurrency to its 401(k) investment menu later this year. Over 20,000 employers offer a Fidelity retirement plan, and they’ll have the option to add crypto, allowing workers to invest up to 20% of their account balance, specifically in bitcoin. If employers choose, they can set a lower bitcoin limit, such as 5%. While there are thousands of cryptocurrencies in circulation, bitcoin is called the “king of crypto” because it’s the oldest and most well-known digital asset. However, if the bitcoin 401(k) gets popular, Fidelity…

This Money Girl episode was inspired by several questions I’ve received from listeners about various buy now pay later offers or BNPL at checkout online and in local stores. You’ve asked about whether they really are interest-free, how they compare with using a credit card, and the pros and cons.  So, if you’re ready to understand more about BNPL and whether it’s right for you, stay with me! To chat about everything you need to know, I interviewed Bill Walsh, Chief Customer Officer for Sunbit, a BNPL technology company. Bill and I had a great conversation about the current buy…

Getting a single DUI conviction can negatively affect your life in many ways. Having too many drinks may seem harmless at the time, but the second you get behind the wheel intoxicated, you put yourself and others at risk. If you’re lucky enough to not hurt anyone, you will still face fines, potential jail times, and skyrocketing auto insurance premiums. DUI vs. DWI Depending on where you live, you may get convicted of DUI or a DWI; however, there’s little difference between the two. DUI stands for “driving under the influence,” while DWI is “driving while intoxicated.” Both describe someone…

Prakash U. says, “Your crypto podcast was fascinating, and the interest rates from BlockFi and Gemini for stablecoins blew my mind. You mentioned they don’t have FDIC insurance. So, to get such high rates, what are the risks?” Susan H. says, “I love your podcast and listen to you on my morning walks with my dogs. I’m a 51-year-old married female and have worked as a paralegal for 24 years. My husband is the same age, and we’ve been married for 21 years with no children—just two very spoiled Labrador retrievers. We have $500,000 in 401(k)s and owe about $120,000…

Jessica A. in Texas says, “I’m a long-time listener and huge fan of your podcast! My husband and I are in our early 30s and have set ourselves up well financially. We have about $60,000 in cash sitting in a 0.4% ‘high-yield’ savings account. We think it could be doing more for us, but we’re not sure where to begin. Our only debt is our mortgage and we pay extra toward the principal each month. We have a 12-month emergency fund, max out our workplace retirement accounts, and both max out our Roth IRAs every year. We’re not eligible for…

Julie S. says, “Hi, Laura! I recently discovered your weekly podcast and have already binged a ton of episodes and learned a lot—thanks for all you do! One of my New Year’s resolutions is to be more mindful and strategic about my finances, and your podcast has been super helpful. I would love it if you could podcast on the trend of buying a second home first, where you rent your primary residence and buy a second home for vacations or rent out. I’ve been considering this and wondering if your guidance, such as not spending more than 25-30% of…

You’ve probably noticed that the use of various cryptocurrencies is exploding! It seems like new coins and blockchain technologies are getting created every day. So, if you’re eager to learn more and invest in crypto but aren’t sure where to start, keep reading. This post will review what cryptocurrency is, various ways to buy it, tax rules for crypto profits, and a strategy to start stacking coins. You’ll learn six ways to invest in crypto, including some clever, tax-advantaged options for avoiding capital gains taxes altogether. What is cryptocurrency? Cryptocurrency or crypto is digital money, known as tokens or coins,…

Most people know they should save for retirement; however, using a 401(k) may seem too overwhelming or complicated and prevent many from getting started. When I was in my 20s, I didn’t invest in my company’s 401(k) because I wasn’t sure what would happen if I left my job. Not understanding the retirement account rules held me back, and I don’t want that to happen to you. While 401(k)s come with critical IRS regulations you should know, they’re not as tricky to master as you might think. If you’re lucky enough to work for an employer offering a 401(k), participating…