Author: Laura Adams, MBA

In addition to being a beautiful time of year, spring is often a popular time to purchase a vehicle, especially this year. Research from Cox Automotive® shows new and used vehicles sales have increased since March.  If you’re considering buying your next car, use the following eight strategies to make a wise decision and save money.  Look at vehicle reviews. Make sure a potential vehicle will fit your priorities, such as having enough room for the entire family, feeling comfortable on long trips, or being compact enough for city driving. Compare features and prices of different makes and models that…

Today’s topic comes from Natalie W., who asks a common homeowner question: “I took out a 30-year mortgage for $773,000 at 7.18% interest to build a new home. But my current home has no mortgage and should bring about $500,000 when I sell it. I’m considering a refinance but am worried about paying too much for closing costs. Should I refinance the new home loan or pay it down with the $500,000 proceeds and send an extra $2,000 monthly?” Thanks for your question, Natalie! As a homeowner, your mortgage payment is likely your largest monthly expense, making it wise to…

Understanding impulse spending No matter how frugal or good you are at sticking to a budget, no one is immune from impulse spending from time to time. But the more you give in, the more harmful impulse purchases can be to your finances. Spending more than you can afford or buying things you don’t need can become a bad habit that’s difficult to stop. Overspending is a common barrier to achieving essential financial goals, like investing at least 10% of your gross income for retirement and building a healthy emergency fund.   Instead of caving to impulses, develop strategies that stand…

Since we’re approaching the end of 2024, I’ll review the show’s top five most downloaded episodes. This post will be a quick and dirty summary of the top five show topics of the year. Even if you have already listened to them, getting a short and sweet run-through of each show is an excellent way to reinforce your knowledge of the topics. Most Popular Money Girl Podcast Topics of 2024 Here are the most downloaded Money Girl episodes in 2024. Rules for Using a Health Savings Account (HSA) as a Couple, episode 807, released on January 3.  An anonymous…

Laura reviews seven changes to various tax-advantaged accounts starting in 2025 that can help you pay less tax and save more money.

If you want to become wealthy, an essential habit you should create is regularly investing a portion of your income in a tax-advantaged retirement account. You may have an excellent option at work, like a 401(k) or 403(b). If not, there are individual retirement accounts or IRAs and self-employed retirement plans you can open and contribute to on your own. The years you have to invest money for the future is called the accumulation phase. But at some point you’ll want to take money out, or be forced to take it out, in some cases, which is the withdrawal phase…

Being a homeowner has its pros and cons. It can help or hurt your finances depending on your location, mortgage debt, property taxes, insurability, and goals. The joys include having a place to call your own and the chance to build equity. According to a 2024 report, the average homeowner has just under $300,000 in home equity, with $193,000 available to be tapped, the highest amount on record. If you’re a homeowner watching your equity grow, you might wonder if you should dip into it with a home equity line of credit or HELOC.  This post will review what a…

A listener named Wasittha asked me the following question: “I’ve been trying to max out my IRA and 401(k). However, I’ll be unemployed next year for a while–hopefully not for too long. Since I started my own business early this year, can I invest in a SEP-IRA instead of a 401(k), and how much?  Please explain SEP-IRAs since I’m new to being my own boss and have only earned a few thousand dollars. Thank you very much, and keep doing what you are doing! I tell everyone about you, and we love hearing your voice on the podcast!” Thanks for…

If you’re a homeowner or want to be one someday, there will likely be a time you want or need to sell your real estate. So, it’s essential to understand various ways to sell a home and their costs, so you do it as profitably as possible. Today’s topic was inspired by a recent question from Scott in Florida, who says: “I live in an old house on the Gulf Coast that needs a lot of repairs, like a new roof, windows, and upgrades to the kitchen and bathrooms. I’ve paid for many updates over the years but can’t afford…

If you’ve ever been envious of someone getting free money in their retirement account from an employer that “matches” contributions, you might be interested in how to qualify for matching without an employer! Even if you get employer matching, an IRA match is a nice extra benefit to boost your retirement account. This post will explain how individual retirement account (IRA) matching works and where to find an IRA that offers it. So, stay with me if you like the idea of getting free money to grow your retirement nest egg! What is an IRA match? An IRA match is…