Money Girl

4.6 (1.8K)
Investing
Updated Weekly

Laura Adams provides short and friendly personal finance, small business, real estate, and investing tips to help you live a richer life. Whether you're just starting out or are already a savvy investor, Money Girl's advice will point you in the right direction. Hosted on Acast. See acast.com/privacy for more information.

2d ago

10 Ways a 529 Plan Makes Education More Affordable

1023. Are you worried about the future cost of education for yourself or a child? Laura reviews ten ways a 529 savings plan supercharges education savings and can even be used for young students, non-traditional coursework, and professional career pivots. Key takeaways Contributions to a 529 plan get taxed upfront, but the account growth and withdrawals for qualified expenses are tax-free.States sponsor 529 plans with various benefits and fees; however, you don’t have to be a state resident to participate in the plan.There are no income restrictions to contribute to a 529, and owners typically name a child, who is the future student, as the account beneficiary. Qualified 529 expenses include many costs associated with traditional college, but also include trade schools, vocational training, and professional certifications.You can spend up to $20,000 per year on younger students from kindergarten through high school at public, private, or religious schools.Leftover 529 funds can be rolled over into a beneficiary’s Roth IRA, with certain restrictions. Upcoming Wedding Series Coming Up: We want your questions about wedding finances! Whether you're the bride, groom, or a guest, send us your questions about budgeting for the big day. Email: money@quickanddirtytips.com or leave a voicemail: (302) 364-0308. Discover more from Money Girl! Facebook Newsletter Transcripts available at QuickandDirtyTips.com. Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308. Hosted on Acast. See acast.com/privacy for more information.

14 min
4d ago

6 Money Moves to Make Before a Potential Rate Hike

1022. If you were expecting interest rates to drop, rising inflation is making it more likely for them to go up this year. Laura reviews six moves you shouldn’t overlook in a rising-rate environment to make your money work harder for you. Key takeaways When inflation rises, the Fed raises interest rates to slow down spending and demand, eventually causing prices to decrease so spending increases.With sticky inflation and the expectation of rate hikes, borrowers need to watch interest rates on their debt, using a tool like my PFS.When variable-rate debts, such as credit cards, increase, it’s wise to pay them off faster and reduce the interest expense.If you’re considering a large purchase, like a home or vehicle, maintaining good credit and locking in a lower interest rate sooner rather than later are wise strategies.Higher interest rates benefit savers, so using a high-yield savings account can maximize your earnings. Upcoming Wedding Series Coming Up: We want your questions about wedding finances! Whether you're the bride, groom, or a guest, send us your questions about budgeting for the big day. Email: money@quickanddirtytips.com or leave a voicemail: (302) 364-0308. Discover more from Money Girl! Facebook Newsletter Transcripts available at QuickandDirtyTips.com. Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308. Hosted on Acast. See acast.com/privacy for more information.

12 min
May 22

Which Mortgage Is Right for You?

1021. Looking for a mortgage but are unsure what’s best for you? Laura answers a question from a listener who’s ready to buy a home but is overwhelmed by mortgage choices. Find out whether a fixed- or adjustable-rate loan, with or without mortgage points, is right for you. Key Takeaways: Fixed-rate mortgages are popular because they lock in a rate, providing financial stability no matter what happens in the economy.Adjustable-rate mortgages (ARMs) can be good when interest rates are high, you don’t expect to own your home for the long term, or you can pay it off early.Conventional loans are the most common type of mortgage because they’re backed by federal agencies, reducing risk for lenders.Jumbo loans are high mortgage amounts that aren’t federally-backed and typically require stricter qualifying criteria by lenders.There are various loans backed by the federal government, including FHA, VA, and USDA products, that come with lenient underwriting standards, making homeownership more affordable.Buying mortgage points allows you to get a lower interest rate, which saves money if you own the property past the breakeven point.Upcoming Wedding Series Coming Up: We want your questions about wedding finances! Whether you're the bride, groom, or a guest, send us your questions about budgeting for the big day. Email: money@quickanddirtytips.com or leave a voicemail: (302) 364-0308. Discover more from Money Girl! Facebook Newsletter Transcripts available at QuickandDirtyTips.com. Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308. Hosted on Acast. See acast.com/privacy for more information.

17 min
May 20

Do’s and Don’ts of Using Chatbots and AI Money Tools

1020. Using an AI tool or chatbot to improve your finances can be wise, depending on what you tell it. Laura reviews what you can safely ask a bot and what you should never enter in an AI tool. You’ll learn ten powerful AI prompts you can use to find hidden savings, negotiate your bills, and build more wealth. Key takeaways Since your data can be used without your knowledge, never enter personally identifiable information in an AI tool or chatbot, such as your Social Security number, account numbers, logins, or legal information.Use AI to help with financial education and tasks like negotiating bills, building credit, and preparing for taxes.AI can play devil’s advocate to explain the downside of a financial decision or list the pros and cons, improving your overall knowledge and logic.Don’t assume the answer you get from a chatbot is correct–ask it to show its logic and resources so you can double check it. For any significant financial decisions, it’s best to work with a financial professional for the best advice.Discover more from Money Girl! Facebook Newsletter Transcripts available at QuickandDirtyTips.com. Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308. Hosted on Acast. See acast.com/privacy for more information.

13 min
May 15

Is a HELOC Worth the Risk?

1019. If you have enough home equity and not enough cash, you may wonder about taking a home equity line of credit (HELOC). Laura answers a listener’s question about whether taking a larger HELOC to pay for an expensive car repair and an upcoming wedding is a good or “horrible” idea. Key Takeaways: Most lenders require you to maintain at least 20% home equity after tapping it with a HELOC.HELOC borrowers must also have enough income, a suitable debt-to-income ratio, and sufficient credit scores to qualify.Getting a HELOC gives you more flexibility and lower interest rates than other financing options, such as a credit card.If you use HELOC funds to buy, build, or remodel a home, interest paid on a limited amount of debt is tax-deductible.Primary HELOC downsides include paying variable interest, reducing your home equity, and risking foreclosure if you’re unable to repay it.Upcoming Wedding Series Coming Up: We want your questions about wedding finances! Whether you're the bride, groom, or a guest, send us your questions about budgeting for the big day. Email: money@quickanddirtytips.com or leave a voicemail: (302) 364-0308. Discover more from Money Girl! Facebook Newsletter Transcripts available at QuickandDirtyTips.com. Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308. Hosted on Acast. See acast.com/privacy for more information.

15 min
May 13

What Happens to Your Money After You Die? (Reissue)

910. Laura reviews what happens to your assets and debts after your death, depending on your estate, marital status, and home state. This episode originally ran in March of 2025. Upcoming Wedding Series Coming Up: We want your questions about wedding finances! Whether you're the bride, groom, or a guest, send us your questions about budgeting for the big day. Email: money@quickanddirtytips.com or leave a voicemail: (302) 364-0308. Discover more from Money Girl! Facebook Newsletter Transcripts available at QuickandDirtyTips.com. Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308. Hosted on Acast. See acast.com/privacy for more information.

12 min
May 8

Beyond a 401(k)--Understanding a 403(b), 457, and 401(a)

1018. Do you have multiple retirement plans and are unsure how they fit together? Laura answers a listener’s question about having a 403(b) and a 457 plan at work, and a potential second job with a 401(a). Knowing the rules of various retirement plans helps you take full advantage of them and avoid potential mistakes and penalties. Key takeaways The names of workplace retirement plans come from the sections of the Internal Revenue Code that govern them. Plans from different sections of the tax code operate independently, allowing you to double or triple-dip maximum contributions.Plans from the same section of the tax code, such as a 401(k) and a 403(b), are subject to one shared annual contribution limit.A 403(b) can be offered by public schools, hospitals, and non-profits; it allows an extra catch-up contribution for long-term employees.A 457 plan has different types of accounts, but the governmental 457(b) is the most common. It allows an extra catch-up contribution and no early withdrawal penalties.A 401(a) is typically offered by government agencies, schools, and non-profits. It usually has mandatory participation and a high annual contribution limit. Discover more from Money Girl! Facebook Newsletter Transcripts available at QuickandDirtyTips.com. Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308. Hosted on Acast. See acast.com/privacy for more information.

17 min
May 6

Best Retirement Plans for Self-Employed & Small Business Owners

1017. If you think that you must have a cushy job to access a retirement plan, you’re mistaken. There are excellent retirement accounts for the self-employed or those running a small business. Laura reviews the rules, pros, and cons of different retirement plans you might choose based on your income, business size, and financial goals. Key Takeaways: Whether your employer doesn’t offer a retirement plan or you’re self-employed, you can save for retirement using one or more tax-advantaged accounts.Anyone with earned income qualifies for a traditional IRA, making it an excellent option for investing on a pre-tax basis.If you have earned income that’s less than an annual threshold, you qualify for a Roth IRA, which gives you tax-free income in retirement.If you have income from a business with no employees, other than a spouse, you qualify for a solo 401(k), which offers the highest contribution limits.If you have income from a business with or without employees, you qualify for a SEP-IRA. Upcoming Wedding Series: We want your questions about wedding finances! Whether you're the bride, groom, or a guest, send us your questions about budgeting for the big day. Email: money@quickanddirtytips.com or leave a voicemail: (302) 364-0308. Discover more from Money Girl! Facebook Newsletter Transcripts available at QuickandDirtyTips.com. Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308. Hosted on Acast. See acast.com/privacy for more information.

17 min

See All (1.1K)

Laura Adams

Host
Farnoosh Torabi

Guest
Lisa Greene-Lewis

Guest

4.6

out of 5

1,833 Ratings

Where’s Laura???

11/19/2024

Rebecca VF

Who is this new lady? She doesn’t even have a name. What’s going on here?
Definitely not non partisan

07/22/2025

Vallelj

Why would you call the recent tax bill “One Big Beautiful Bill” over and over like you have so much glee about this harmful bill? You could have referenced it once with this ridiculous and nonsensical name, and then called it by its neutral legislative name of H.R.1. You also did not outline all of the negative impacts this bill will have. Can’t follow someone who clearly is a MAGA who wants to eat their cake and watch others suffer.
Helped me for years!!!

10/06/2024

Hes1234x

I started listening to this years ago in my earliest jobs and it’s been a companion over the years as life phases and needs have changed. So, so grateful to Laura!
Young and dumb

05/01/2024

j33w3l

I am a 23 year old and finding this my goodness has been a help. Starting from motivating me to take care of my financial responsibilities. Learning about things I DIDNT have a clue about. Thank you so much!!!

Laura Adams provides short and friendly personal finance, small business, real estate, and investing tips to help you live a richer life. Whether you're just starting out or are already a savvy investor, Money Girl's advice will point you in the right direction. Hosted on Acast. See acast.com/privacy for more information.