On Monday, the Senate pushed through the HEALS Act which is expected to be signed into law on August 7th.

What to expect from the HEALS Act:

Stimulus Checks

• $1,200 for individuals making less than $75k and phasing out at $99k
• $2,400 for families making less than $150k and phasing out at $198k
• $500 for dependents 19 and younger OR 24 and younger if they are a student

Unemployment Benefits

• The $600 weekly benefit (in addition to state benefits) expires on 07/31/2020
• Decreased amount to $200 per week (in addition to state benefits) through September and then 70% wage increase, up to $500, from October through December 31st.

School Reopening

• $70 billion to K-12 that open for in-person classes
• $29 billion for higher education
• $1 billion for Bureau of Indian Education
• $5 billion to be used by each state at their discretion

Coronavirus Testing

• $16 billion

This is only what has been proposed by the Senate on Monday and is expected to pass by August 7th. Talks from both sides of the aisle and President Trump have also mentioned that the package may even offer more than this current proposal.

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This episode of the Money Peach Podcast was brought to you by OneAZ Credit Union - the credit union I have personally been a member with since 2011. 

If you live in the state of Arizona and you are looking to get away from the profit-focused big banks - look no further than OneAZ Credit Union. 

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All the show notes, links, and anything mentioned in today's show can be found over at https://www.moneypeach.com/session140

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Would you like to SAVE more money and PAY OFF DEBT faster? 

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We focus so much about helping our kids with the finances, but what about our parents?

Right now there are close to 50 million Americans who are age 65 and over. This means 1 out of every 7 Americans should at least start having the money talk sooner than later.

But how do you start a money conversation with your parents?

What should you say, and more importantly - what do you NOT say?

What things need to be in place before it's too late?

What are the real-life examples of the shattered families when the money-talk didn't happen?

Author, speaker, and personal finance journalist Cameron Huddleston is my guest on the show to take us through all of these answers and more.

Cameron has lived it. After her mother was diagnosed with early onset dementia, Cameron painstakingly made her way through the financial journey with her own parents. During this time, she learned a lot of what to do and what not to do. 

After going through this personal experience, Cameron made her mission to help other adult children navigate the waters of having the money-talk with Mom and Dad.

You can grab a copy of Cameron's book: Mom and Dad, We Need to Talk here.

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All the show notes, links and anything Cameron and I talked about can be found at https://www.moneypeach.com/session139

This week there was a post floating around social media right now (you've probably seen it) about the reality of a Cashless Society.

I am going to break down that post, compare the facts vs fiction and the pros vs cons of a Cashless Society.

Some of the facts surrounding the idea of a cashless society is absurd, a little bit of it actually makes sense, and part of this may even get the hairs on your neck to stand up!

Don't worry, I'm not going to make you wonder where I stand on this topic...I'll explain in the first few minutes.

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Need a better plan for your money? I am asking you to PLEASE take my FREE budget tool called the Cash Flow Formula.

https://www.moneypeach.com/freebudget

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This is the exact same tool I use every single day of my life and I would be completely lost without it. What gets measured gets managed and when you aim at nothing, you will hit it every time.

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All the show notes, links, and anything I mentioned in the episode can be found over at https://www.moneypeach.com/session138

Thanks so much for listening and the best way to show support for the show is SHARE, SHARE, SHARE!

Talaat McNeely from His and Her Money is on the show today to talk about how they paid off their mortgage in 5 years.

Talaat and his wife Tai started His and Her Money back in 2015 and have become known as America's Couple Money Experts. They have an incredible YouTube channel with 144k subscribers and one of their highest viewed video is where they walk into the bank and pay off their mortgage!

From starting with a negative net worth, lies about money inside the marriage, and a pile of debt — the two almost didn't make it.

During our conversation, Talaat explains the steps they took to rebuild the trust inside the marriage and money, how they paid off their $30k in debt, and then how they paid off their mortgage in 5 years...starting out on a single income teacher's salary!

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All the show notes, links and anything we mentioned in the episode can be found over at https://www.moneypeach.com/session137

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