Money Girl

1037. What actually happens legally and financially when you say "I do"? Laura Adams interviews veteran New York City divorce trial lawyer Jim Sexton about the often misunderstood world of matrimonial law. Whether you are happily single, engaged, or decades into a marriage, Jim’s advice will completely change how you view love, risk, and asset management.

Key takeaways:

Be aware that if you don't create your own prenuptial agreement, the state’s default laws will apply at the time of a divorce.
Keeping a baseline of financial privacy and separate funds alongside a joint account can clarify your intentions in a divorce.
When dating, pay attention to someone’s risk tolerance so you understand how they feel about debt, gambling, or anything that could stress a family.
Even in the most trustworthy relationships, completely relying on a spouse to manage money is dangerous because an unexpected crisis could arise.
The secret to successful long-term relationships isn't flashy; it’s a series of small, consistent habits like regular check-ins, communication, and proactive financial transparency that prevent misery before it starts.

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Transcripts available at QuickandDirtyTips.com.
Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.
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Summer Saturdays: Best of QDT
Encore Episode: This episode originally aired in June 2022.

733. Ever wonder if using a balance transfer credit card could help you get out of debt faster? Laura interviews Mary Gameng, MBA and Credit Card Specialist with Citizens, and answers a listener question.

Here are a few topics Mary and Laura talk about on this week's show:

How many Americans have credit card debt and how much.
Steps to create a debt pay-off plan.
Ways using a balance transfer card can improve your finances.
How card issuers evaluate you when applying for a transfer card.
Whether using a transfer card can hurt your credit.
Shopping tips for finding the best balance transfer card offer.

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1036. Is Social Security in trouble, or is it just a lot of political noise? Laura answers a listener’s question about what the changes to the retirement fund mean for your financial future. You’ll learn the new tax caps that employees and the self-employed must pay and how to protect your retirement safety net.

Key takeaways
According to the latest 2026 Trustees Report, the Social Security retirement fund is now projected to face a shortfall by 2032, sooner than previous estimates.
The Social Security wage base has increased to $184,500 for 2026. High earners will pay a maximum of $11,439 as employees, while the self-employed face a maximum cap of $22,878.
Retirement benefits for Social Security participants are based on your highest 35 years of earnings.
While you can claim benefits as early as age 62, doing so permanently reduces your benefits by about 30%.
Delaying benefits past your Full Retirement Age (FRA) pays 8% more per year until age 70.
Social Security benefits may be taxable if your "combined income" (AGI + tax-exempt interest + 50% of benefits) exceeds modest thresholds.

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

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1035. Host Laura Adams sits down with Plannie founder Annie Lee to expose the most common financial pitfalls couples make. Annie breaks down the "macro approach" to wedding design, explaining how to test-drive a planner and focus your budget for a luxury feel at a fraction of the cost.

Key takeaways:

Why overinvesting in a wedding venue is the most common budget mistake.
How to focus on event expenses that are impactful and instantly set the mood for guests.
Why locking in the lowest number of guests on catering and venue contracts is wise.
Leave a buffer in your budget for overlooked expenses, such as administrative fees, taxes, and tips, which can drive your final bill up by 30%.
How Plannie’s hourly expert consultants can help tackle budget creation, contract reviews, day-of timeline coordination, and much more.
Working with a Plannie consultant on one or two small hourly assignments (like a venue search or budget review) to test their communication, speed, and compatibility is wise before making a full commitment to work together.

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

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1034. Watching the young adults in your life navigate their first "real" job is an exciting milestone—but it can also be stressful if you notice them carrying credit card debt or skipping out on savings. Laura answers a heartfelt question on this topic with five non-judgmental strategies to guide a young person toward financial success without sounding overbearing.

Key takeaways

To help a young adult improve their personal finances, trade lectures for personal storytelling, like sharing your money blunders.
Ensure a first-time Gen Z earner understands that paying only the minimum on high-interest debt is a trap that escalates the cost of original purchases.
Frame credit cards as sophisticated financial tools with excellent benefits that need to be handled carefully, such as with automated payments to avoid interest.
Investing when you’re young allows you to build wealth for less out-of-pocket than waiting until you earn more.
Not maximizing an employer’s retirement match is like turning down a salary raise for no extra work.
Ask open-ended questions about a young adult’s lifestyle goals, workplace benefits, and day-to-day spending shocks rather than telling them how to budget.

Discover more from Money Girl!
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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.