Author: Laura Adams, MBA

A Money Girl listener says, “Hi Laura, my name is Hannah, and I’m from the great state of Maine. I was wondering if you could talk about high-yield savings accounts, what to use them for, and if you have any personal recommendations?” Jane F. says, “Hello Laura, I’m a new listener to your podcast and truly enjoy your shows. I have $5,000 to invest for short-term gains, like five years, and CDs are the only investments I know of. Can you advise on other investment options I should explore?” Thank you for those great questions, Hannah and Jane! This post…

From expensive over-the-counter medications to prescription drugs to high copayments when you see the doctor, healthcare costs can take a massive bite out of your budget. Fortunately, there are ways to cut those expenses using various tax-advantaged plans and medical savings accounts.  This post will review a terrific benefit an employer of any size can offer: a health reimbursement arrangement (HRA), also called a health reimbursement account. I’ll explain how HRAs work, how they’re different from other options like an FSA and HSA, and how I use one to cut the cost of healthcare and save more money. What is…

Regularly investing using one or more tax-advantaged retirement accounts is wise if you want a financially comfortable retirement. I’m a big fan of individual retirement accounts or IRAs because they’re available to just about anyone, regardless of age. You could be a teenager with a job, an employee of a small company that doesn’t offer a retirement plan or even an unemployed spouse of a breadwinner and still qualify for an IRA. Is it better to have a traditional IRA or ROTH IRA? However, understanding the differences between a traditional and a Roth IRA and which one is right for…

“Hi Laura, my name is Stephanie. I love what you do with the podcast, and I’ve been a listener for the past few years. My question is how can I pay off a $7,000 credit card while earning $2,000 monthly and paying rent, car insurance, and all my other bills?” Thanks for your question, Stephanie! Many people are facing the same financial challenge with credit card debt. I’m glad you asked the question because paying down cards is essential for creating financial security. Cards with high credit lines are easy to get because they charge excessively high interest rates. Paying…

If you own or lease a vehicle, every state requires you to have some amount of auto insurance. Even if you don’t own a car but occasionally drive someone else’s car or a rental, you should also have coverage called non-owner auto insurance. Unfortunately, auto insurance is getting more expensive, and the options can be confusing. According to the U.S. Bureau of Labor Statistics, vehicle insurance went up 20.6% in the last year. That’s in addition to a big increase from the prior year of 15%! So, how do you save money on car insurance? So, everyone should be looking…

Raising financially independent adults involves more than just handing out money or funding their education. It’s about providing them with essential financial knowledge and the mindset to grow and manage wealth over time. Mapping the Route to Financial Success This article presents six practical steps to set your kids on the road to financial success. You’ll learn when to start saving for them, the best available savings options, and how to foster financial literacy. Taking the First Step: When and How Much to Save? As a parent, it’s essential to clarify your financial goals before you can guide your children.…

One of my students, Darla M., eloquently put, “Your zombie debt information is fascinating. I loved this course and crave to learn more.” Thank you, Darla, for your wonderful comment and for partaking in my best-selling online course, the Debt-Free Personal Finances! I concur that zombie debt is a little-known yet significant concept. In this show, we will discuss zombie debt, the importance of safe practices against zombie debt collectors, debt statute of limitations, and ways to handle old debts. What is zombie debt? Ever faced financial difficulties, made you unable to pay a debt? It is pretty distressing. Or…

Introduction to self-directed IRAs If you’re considering opening a retirement account or have already been shopping for one, you’ve probably seen the option to open a self-directed IRA or SDIRA. This article will review what a self-directed IRA is, how it differs from a regular IRA, who might benefit from having one, and other types of self-directed retirement and medical spending accounts. What is a self-directed IRA (SDIRA)? A self-directed IRA is a type of IRA where you choose investments instead of the account custodian. While there’s typically a custodian to oversee rules and administration, account owners can make almost…

Navigating your budget can be challenging, especially when dealing with variable expenses and unpredictable income. This post will provide strategies to manage your money effectively, regardless of these variations. Setting Financial Goals Any money system, be it a budget or spending plan, should be based on your financial goals. Whether you aspire to retire a multi-millionaire, buy a beach house, or be debt-free by a certain age, incorporating these goals into your money system is vital. Therefore, it’s essential to set aside time to identify what you want to achieve with your money. Achieving your financial goals is all about…

Wondering about how to become a real estate investor? Whether you’re a beginner or a seasoned investor, understanding different approaches to real estate investing can help you choose the best fit for your resources, desired level of involvement, and risk tolerance. You may be surprised that there are ways to invest in real estate that don’t require significant money or time. Consider the following six ways to become an active or passive real estate investor. Own your home. If you own your home, you’re already a real estate investor. It provides shelter and the ability to build equity over time. For…