1030. If you have federal student loans or plan to use them to finance higher education, you must understand significant upcoming changes to the program. Find out the benefits and downsides of new legislation and how it could affect your finances if you’re a current or future student loan borrower.

Key takeaways

• Due to the One Big Beautiful Bill, massive changes to federal student loans will roll out on July 1, 2026, including annual and lifetime borrowing limits
• The SAVE repayment plan is shutting down, and those currently enrolled must choose a new repayment plan within 90 days of notification from their lender.
• Borrowers who miss the SAVE deadline will be automatically enrolled in standard repayment, which could spike their monthly payments.
• Federal student loan repayment plans will be cancelled or phased out and replaced by the new Repayment Assistance Plan (RAP), which launches on July 1, 2026.
• RAP sets payments at 1% to 10% of your adjusted gross income, waives any unpaid monthly interest, matches up to $50 per month toward your principal balance, and extends loan forgiveness to 30 years.
• If you want to shorten your loan forgiveness, enrolling in a legacy repayment plan may be a better option to discuss with your loan servicer.

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Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.

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1028. Does the cost of a summer vacation mean you have to stay home this year? Rising prices for travel, gas, food, and lodging can make a family getaway feel out of reach. But with the right strategies, you can enjoy a memorable summer trip without overspending or going into debt.

In this episode, Laura shares practical ways to stretch your travel budget, from choosing affordable destinations closer to home to saving money on fuel, food, accommodations, and entertainment. Whether you're planning a road trip, a weekend getaway, or a staycation, you'll learn how to create meaningful family experiences while keeping costs under control.

• Consider destinations closer to home to reduce transportation costs and maximize family time.
• Save money on road trips with smart planning for fuel, meals, and routes.
• Cut lodging expenses by traveling during shoulder season and choosing accommodations with kitchen access.
• Find free or discounted activities that deliver fun without straining your budget.
• Build an affordable vacation around destinations that offer both low-cost attractions and reasonably priced accommodations.

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Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.

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Do you know the difference between good and bad debt? Laura explains why it's a critical concept for saving money, building wealth, and creating more financial security. Plus, she covers a simple 7-step plan for paying off debt fast.

Encore Episode: This episode originally aired on Wednesday, March 6, 2024.

Money Girl is hosted by Laura Adams and is part of the Quick and Dirty Tips Network.

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1028. Laura answers a listener’s question about investing a lump sum or using a dollar-cost averaging (DCA) strategy. Find out what DCA is and its pros and cons whether you have a little or a lot to invest.

Key takeaways

• Dollar-cost averaging (DCA) is a simple strategy where you invest a consistent amount at regular intervals.
• DCA benefits include reducing market risk, needing smaller amounts of cash, and making investing less emotional.
• DCA can also be a wise strategy when you have a large amount to invest, such as a cash windfall.
• The main DCA downside is potential missed growth when the market is rising over time.
• Making a lump sum investment can be wise when your finances are in good shape, don’t need to be systematic, have a high risk tolerance, and want to maximize returns.

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Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.

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749. If you’re worried about a recession or just want to strengthen your finances, Laura covers seven steps to take now to ease the impact of a future hardship.

Encore episode: This episode originally aired in November 2022.

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Think you need to make monumental changes to achieve your financial goals? Think again. Money Girl has 8 micro money habits to help you take control of your finances, feel secure, and reach any realistic financial goal you desire.

Encore Episode: This episode originally aired in June of 2022.

Money Girl is hosted by Laura Adams. Find Money Girl on Facebook or subscribe to the newsletter for more personal finance tips. You can read the transcript here.

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1027. New graduates can create financial freedom by consistently following a few fundamental money rules. Laura reviews seven tips that can set young adults up for a lifetime of financial success.

Expert advice for navigating life after graduation — for new grads and the people cheering them on. From finances and freelancing to nutrition and knowing when to ask for help, find it all in our "Life After Graduation" playlist on Spotify.

Key takeaways:

• Accepting various types of financial help from family can be part of a new graduate’s launchpad to independence.
• Maintaining a cash cushion in a high-yield savings account should be a top priority for creating financial security.
• Building your credit scores is an excellent way to get access to credit at lower interest rates and save on various products and services.
• Keeping debt to a minimum and understanding any student loan repayment options can improve your current and future financial well-being.
• The power of compounding makes it wise to invest sooner rather than later, even if you can only put away small amounts consistently.

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1026. Travel insurance expert, Christina Tunnah of World Nomads, breaks down the benefits of coverage and costly mistakes travelers should avoid. From medical emergencies abroad to unexpected trip interruptions, get insider tips on how to travel and explore the world with less risk and financial stress.

Interview topics covered

• How to choose a travel plan based on your health, belongings you take on a trip, and the cost of a trip.
• Whether you should rely on travel protections offered by a credit card.
• Mistakes travelers make when buying travel insurance and filing claims.
• How to know if ‘cancel for any reason (CFAR)’ is worthwhile coverage you should purchase.
• Pre-existing medical conditions and other exclusions to watch for when shopping for a travel policy.
• The difference between expat healthcare and travel insurance.
• Why having travel medical coverage is essential when traveling abroad.
• Which countries are affected by war, sanctions, and travel restrictions.

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Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.

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