Teach Your Kids About Finances Before Marriage

#033 Following the money printing done to alleviate the impact of job loss during the pandemic, inflation is expected and is already being experienced with the cost of goods going up. Also, people who saved a lot are now spending much more, and this is also driving up the cost of living. Jennifer advises that in anticipation of the looming inflation, families should be rational, take a step back, be patient and make sure they make decisions they are confident about. The first step for most people is to avoid major unnecessary purchases, and consider cheaper alternatives in daily purchases. Jennifer notes that most often it's the bigger expenditures that create financial difficulties for people.

For complete Show notes go to Raising Financial Freedom

-       "Whenever there's something intimidating or a little frightening... take a step back, and take a deep breath, and use your most rational self"

-       "There are people who walk into marriage without knowing if their partner has debt or assets, and they don't realize that marriage is a legal contract" 

-       "When I see parents, there's often the intentional lessons… and sometimes the kids get those lessons, but always the kids just pick up from what you do day in and day out" 

 In This Episode:

·         [01:39] Meet today's guest, Jennifer Sahady.

·         [02:08] What are your thoughts on inflation as a possible impact of the money printing that was done due to the pandemic?

·         [03:36] How can a family can prepare for this inflation?

·         [05:16] Jennifer shares her thoughts on marriage and divorce today as the root of her TEDx talk.

·         [07:33] What are the damaging effects of divorce on finances? 

·         [010:33] About Prenups and the process of divorce.

·         [12:41] What skills can parents teach their children to prepare them for marriage in relation to their finances?

·         [14:34] What role did money in marriage play in developing your philosophy?

·         [16:59] How did you get started in finances?

·         [19:38] What steps can a parent take now to put their children on the right road when it comes to marriage and money?

·         [22:06] What checklist items should be checked by young adults before getting married?

·         [23:21] What is the biggest challenge for young couples when it is time to meld their finances together?

·         [25:32] What is the best piece of advice you can give to young couples?

·         [27:15] How to contact Jennifer

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