Laura D. Adams – an author and nationally recognized financial planning and business expert – will speak at Murray State University this week.
The free event, co-hosted by the Bauernfeind College of Business, is set for Thursday, Oct. 26, at 2 p.m. in the school’s Lovett Auditorium.
Her writing has been published in The New York Times, The Wall Street Journal, The Washington Post and USA Today, among many other national publications. She’s also been featured by outlets like NPR, PBS Nightly Business Report and several other national and regional shows.
Even as a kid Adams was interested in personal finance. Even in Middle School, she wanted a checking account so she could manage her money. It gave her a sense of being an adult, which was empowering.
Adams’ most recent book is “Money-Smart Solopreneur, A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers.” She ties the concept of the “side hustle,” – referring to people pursuing an additional income source beyond a full time job – to the COVID-19 pandemic.
“We found that there was the largest increase in business applications in 2020, and a lot of people just decided, ‘Hey, if my industry is going down the drain, maybe I can do a little bit better on my own,’” Adams said. “Technology has made it so easy to do whatever it is … like driving for Uber or deliveries. All those sorts of things have become very easy for people to get involved with.
Her latest book delves into how to navigate the world of the “side hustle,” advising readers on how to comply with and take advantage of tax laws during this “real surge in entrepreneurism.” Adams also outlines the concept of a “solopreneur” – which she defines as running a business with no additional employees and working with independent contractors – and gives tips on how to successfully operate as one.
For example, she suggests “solopreneurs” have a home office so that equipment purchases can be written off as business expenses, which ultimately benefits an individual's personal finances as well.
Adams plans to focus on basic concepts for her talk on MSU’s campus.
““I think [it’s important to] show people some of the benefits of starting early and basic concepts, like paying yourself first, creating a budget, thinking through compounding interest and how it's benefiting you and keeping your debt levels low,” she said. “I'm going to tell a lot of stories about my personal experiences and my mistakes along the way. I hope that [people will] come away knowing that financial freedom is definitely within their control.”
