Author: Laura Adams, MBA
Laura Adams, MBA
Laura Adams was named one of Empower's "Top 50 Women in Personal Finance" in 2018. She's one of the nation’s leading personal finance and small business authorities who works as an on-camera spokesperson, voice-over talent, and multimedia creator. She’s written multiple books, and the latest title, Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers, was an Amazon #1 New Release. As an award-winning author and host of the top-rated Money Girl podcast since 2008, millions of readers, listeners, and loyal fans benefit from her practical advice. Laura is a trusted source of practical financial advice for the national media, including TV, radio, digital, and print outlets. She’s been featured on most major network news outlets, Bloomberg, NPR, The New York Times, The Wall Street Journal, The Washington Post, Money, Time, Kiplinger’s, USA Today, US News, Forbes, Fortune, Consumer Reports, MSN, and many more. Her mission is to empower consumers to live healthy and prosperous lives by making the most of what they have, planning for the future, and making smart money decisions every day. Laura received an MBA from the University of Florida. She lives in Vero Beach, Florida, with her husband. Visit LauraDAdams.com to learn more.
“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…
Jaishree E. says, “I can’t thank you enough for your work educating the world about personal finances. The things you’ve taught me have been invaluable! Recently, I had a medical procedure and used my HSA to pay about $1,300, even though I knew I had already met my annual insurance deductible. Within a couple of weeks, my doctor’s office did mail me a check to refund the amount I paid. Is it possible to put it back into my HSA before the April 15 deadline to make contributions for last year?” Thanks for your kind words and great question, Jaishree!…
What tax documents do I need? Knowing how long you should keep tax records and other financial documents can be confusing. Many people are so afraid to throw away papers that they store boxes of documents for decades. I have to admit that I used to be one of them! This post will review five tips for keeping the right documents. You’ll learn which financial records you can toss, what to save, and for how long. Here’s what you should know about tossing records and staying compliant with IRS regulations. 1. Keep digital copies of your filed tax returns The…
What are the differences between a sole proprietorship and an LLC? Wasittha says, “Hello, Laura! I’m a big fan, and thank you so much for providing good financial information. I’m starting a local cottage business creating freeze-dried foods that I can operate in my kitchen. My startup capital is less than $5,000, and I plan to work alone. What’s the difference between having an LLC and a sole proprietorship, and which is better for protecting my finances?” Thanks for your question, Wasittha! The business entity you choose is an important consideration that many small business owners, freelancers, and contractors need…