Tim Stenovec talks to husband and wife duo Talaat and Tai McNeely about when to bring up finances with your partner and what you need to be teaching your kids about money. The couple founded HisandHerMoney.com after Tai helped Talaat pay off $30,000 in debt!
Because of all his debt, Talaat kept his finances hidden from Tai under right before their wedding day...which he says was a terrible idea! He doesn't suggest talking about credit score on the first date, but slowly working it into a conversation before you even get engaged is very important. Tai says you want to attack finances as a team and help each other grow your bank account and credit.
Plus, once you're married and have kids the hard work doesn't stop. The McNeelys talk about teaching your kids how to give, spend and save. You can create a reward system for saving or even bring them to the bank and learn the process of depositing money.
It's expected that boomers and their parents' generation will pass down $84.4 trillion in assets through 2045, according to Forbes. Paul Karger, co-founder and managing partner of financial firm TwinFocus, joined Cheddar News to discuss wealth transfer between parents and their children and when it's a good time for a conversation between them.
Pets grow into beloved members of families and many do what they can to keep them happy and healthy. Marc Peralta, chief program officer of Best Friends Animal Society, joined Cheddar News to discuss finances and expenses when taking care of your furry family members.
