Tips on how to forestall cash disagreements from destroying your loved ones

Arguing over money can ruin relationships.

Of course, families will not always agree on all financial matters. How you deal with the situation matters.

“Money is emotional,” said licensed marriage and family therapist Dr. George James, chief innovation officer and senior personal therapist for the nonprofit Council for Relationships.

“Try to communicate through money,” he added. “Don’t make it something nobody talks about.”

For Derek and Jocelyn Porter, who own a Philadelphia-based children’s entertainment company called D&J Costumes, it was a disagreement over whether to buy a new $ 60,000 car that left them in a stalemate.

More from Invest in You:
The Democrats’ $ 3.5 trillion budget plan provides great help to families with children
HBCUs clear student balances, cancel debt with federal funds
Half of the young investors invested economic money. Here is where they put it

Jocelyn Porter, who appeared on CNBC “Monetary court“Would like to buy a new Mercedes with her husband to replace their old car that has gearbox problems.

“I’ve had my E350 Mercedes for five years,” said Jocelyn Porter. “It adds a touch of class and quality to my business.”

Derek thinks a cheaper car is the answer as their company took a hit during the Covid-19 pandemic.

“I come from a humble background,” said Derek Porter. “I was in a homeless shelter.

“We fought, we didn’t have much,” he added. “I take care of every penny.”

Tijana Simic | iStock | Getty Images

Given this story, it makes sense that Derek would be reluctant to spend a lot of money, James said. He also understands why someone who works hard would want to treat themselves to something good.

“This couple really needs to speak through the ‘why’. Why do I want to do it and why not? “He said.” If you can hear each other, you can make a decision. “

Ultimately, O’Shares ETF chairman Kevin O’Leary, who heads the Money Court, decided the couple should lease a new Mercedes with the same monthly payments they currently pay for the old car. In this way, any repair costs would be covered by the dealer.

“So if the engine light comes on again, you don’t care,” said O’Leary. “That is her problem.”

Got an agreement

Whenever someone is in business with a partner, it’s important to have some sort of arrangement about how to handle money matters, said litigation attorney Katie Phang, who along with former judge Ada. Pozo is investigating the cases with O’Leary at the Money Court.

“In a partnership agreement, you usually include a provision that gives you guidance on how to actually deal with such arguments,” said Phang.

“In a 50/50 [partnership]”By definition, someone has to be the tiebreaker.”

That applies even to family members who do business together, added James.

“A lot of couples want to say that nothing will go wrong or that we can always work together, but it really helps to have something to come back to,” he said.

Get personal

Whether for business or pleasure, it is good for couples to seek outside advice, such as an accountant, business coach, or attorney, James said.

Couples should also talk about what they learned about money today and what they think about it today, he added.

“If we don’t talk about how we think about money, at some point it will come up as a topic and it could be a pretty big topic.”

It doesn’t matter if you don’t have a lot of money either.

“I’ve seen couples who are wealthy and couples who have financial problems and both of them can have arguments over money,” said James.

“Your ability to hear, support and listen to one another really makes all the difference.”

SIGN UP: Money 101 is an 8-week financial freedom learning course delivered to your inbox weekly.

CASH: I have 9 sources of income that bring in thousands of dollars a month: Here’s my best advice above Growing with acorns + CNBC

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

Suez Canal Including One other Lane To Forestall One other Ever Given-Model Mishap

People watch as the container ship 'Ever Given' is made afloat again and opens the Suez Canal on March 29, 2021 in Suez, Egypt. People watch as the container ship ‘Ever Given’ is made afloat again and opens the Suez Canal on March 29, 2021 in Suez, Egypt. Photo: Mahmoud Khaled / Getty Images (Getty Images)BoatlopnikBecause boats are cars too

The Suez Canal is a global shipping highway, so when that highway slows down, it makes sense for engineers to do what they do on normal highways: add a lane.

The canal is responsible for more than 10 percent of the world’s shipping and saves weeks of freight shipping around the globe. Since Ever Given was housed in the man-made waterway, the shipping industry has grappled with the precarious nature of the flow of consumer goods. I mean, The British couldn’t get their lawn gnomes. Somehow they avoided riot, but we might not be so lucky next time.

The Suez Canal Authority announced plans to expand the canal by adding space on a second lane, which was completed in 2015. SCA has already started dredging. the guard Reports:

The state-run Suez Canal Authority (SCA) announced last week that it plans to widen a second canal lane, which opened in 2015, by 10 km to 82 km, and widen and deepen a single-lane stretch at the southern end of the canal .

The work had started after the instructions of the Egyptian President Abdel Fattah al-Sisi, “to begin immediately with the implementation of the proposed development plan and to draw up a schedule for the early completion,” said the SCA on Saturday.

The Grounding of the 440 meter long Ever Given The container ship in a southern section of the Canal from March 23-29 delayed the passage of hundreds of ships through the waterway and disrupted world trade.

The new project will extend the two-way section south of Great Bitter Lake and will be carried out in part by the largest dredger in the Middle East. the Mohab Mamish who arrived in Egypt last month.

While the plan is to lengthen and deepen the canal, it certainly won’t be 440 meters wide and it still might not be enough to reach it fool the laws of physicsas our writer Mercedes Streeter explained:

Ships shift their own weight in water. This isn’t a big deal if the ship is small or out in the open ocean. But it’s important when shoving a large ship into a narrow space like the Suez, where water is displaced up and around the hull, where it moves faster relative to the ship than the rest of the water in the canal. Bernoulli’s principle states that an increase in the velocity of a liquid occurs simultaneously with a decrease in pressure. This principle is also part of how airplane wings generate lift.

When large ships like the Ever Given sail near a bank, fast flowing water on the bank side can pull them to that bank. This phenomenon is called the bank effect. The fast moving water under the ship can also suck it down to the bottom of the waterway, sometimes referred to as water Squat effect.


… the basic phenomena are not exactly unknown and it is not that the Ever Given is the only ship that has met them. It is interesting that today’s gigantic ships behave differently in narrow / shallow waters than their smaller ancestors, and the effects of these forces on them are actually not that well understood This article from the Wall Street Journal explained.

The video shows that navigating the Suez is much more than you might think. Add a strong crosswind or mechanical failure and it’s easy to see how managing the incredible forces at work can quickly get out of hand. It’s not like you can just step on the brakes when something goes wrong.

G / O Media can receive a commission

The investigation into why the Ever Given got stuck in the canal is still ongoing.

You’d think after six days of stinking their canal the authorities would be happy to see the Ever Given sail set off into the sunset, but you’d be wrong. The Ever Given is still being impounded almost two months later, with thousands of containers on board in Great Bitter Lake while the SCA waits for money to find its way. The Canal Authority recently cut their price for clearing the ship by $ 300 million insider. The SCA billed Ever Given insurers $ 300 million for “reputational damage.” I mean, it’s not that a cargo ship can take its business to another canal, loss of reputation or no, the Suez is still the only game in town. The SCA is now aiming for a cool $ 600 million before Ever Given is on its way.

Covid vaccine skepticism will stop U.S. from normalcy

A new poll found that 49% of Republican men said they would not be vaccinated against Covid-19, and Dr. Vin Gupta said that “the course of this pandemic is being determined” to the detriment of all Americans.

“All predictions right now are that we will overcome the worst with normalcy by the end of June, early July. However, that depends on people actually receiving the vaccine on the order of 75% to 80% of eligible adults until that period, “said Gupta, who works in an intensive care unit. “If that is not the case – if the skepticism or hesitation is so high – we will not get there.”

Gupta, a pulmonologist and medical worker for NBC, pointed out Models from the Institute of Health Metrics and Assessment at the University of Washington (IHME), which suggests that if the vaccination rate of eligible adults is below projections, 100,000 cases and at least 1,000 deaths per day could still occur in the US.

Joe Biden promised a speedy return to normal during his first prime-time address as president on Thursday evening.

“After this long, tough year, this Independence Day is going to be very special as we not only mark our independence as a nation, but also our independence from this virus,” he said.

Gupta, an associate assistant professor at the University of Washington’s IHME, told CNBC “The News with Shepard Smith” that Covid will be something Americans live with and that it is more likely to become an endemic virus, which means it will be found regularly in the population.

“There will still be transmission of the virus, but people don’t get sick and end up in the hospital,” Gupta said. “That’s the hope that only a small part of society will remain vulnerable, and we can do it. This is what normalcy will be like; management, not total extermination.”

Treating mentally in poor health accused felons saves cash, stop crime

The Los Angeles County prison is filled with hundreds of inmates charged with crimes but too mentally ill to understand the charges brought against them or to support their own defense. Unable to stand trial, they burn county taxpayers’ money while they wait in jail.

Waiting for what? Not to get completely and sustainably healthy, but just good enough to be fit for the test.

The improvement will not happen on its own. The prison is a poor place for psychiatric treatment, and while the county clinics do their best, inmates often get worse, making future treatment even more difficult. Slightly better results are seen at the two treatment centers in San Bernardino and Kern counties as well as state mental health hospitals, and LA sends its mentally incompetent inmates to these locations when beds open. However, waiting for these treatment places can take a year or more.

If all goes well, inmates will return to LA County, stand trial, and if found guilty, generally end up back in jail or, if not guilty, on the streets. In either case, they don’t have an ongoing treatment plan, so they end up on the streets and maybe have to go through the entire cycle of crime, prison, treatment, trial, and crime all over again.

In recent years, the county has come up with a better way of doing things with its Office of Distraction and Reentry, better known as ODR. The Office runs a program This will move individuals charged with misconduct – and some charged with criminal offenses – from prison to community clinics for treatment pending trial, at a fraction of the cost they are charged for have incarceration in prison. Regardless of whether they are ultimately found guilty or not, they go with a care plan designed to keep them out of the otherwise endless cycle. That alone makes community treatment a better, more sustainable, and less expensive option than in prisons or state psychiatric hospitals.

Now the state is looking for a handful of counties willing to distract not just some but all of their accused criminals who are unable to stand trial (the bureaucratic jargon is “FISTs”). The state will pay. Los Angeles County should come first to enroll as it has the largest and most expensive FIST population and the most nimble and successful local program in the ODR for dealing with suspected psychiatric offenders.

Additionally, the Los Angeles County government has moved – at least in theory – to the fore of treatment-based, sustainable alternatives to incarceration. In 2019, the Board of Supervisors enthusiastically passed a Care-First-Jail-Last-Last program, voted for the (final) closure of the dungeon-like men’s central prison, scrapped a plan for a new treatment-based prison, and agreed that Treatment should take place in community clinics, with the level of safety appropriate for the population concerned. Last year, voters changed the county’s charter to set a funding floor for community investment programs (such as youth development and vocational training) and alternatives to incarceration (centered on mental health care).

However, some members of the county government are testing the application to participate in the state program known as the Community Care Demonstration Project.

The reasons for their resistance are annoying. Some fear the release of a dangerous population – yet ODR already has a solid track record of safely treating and housing accused offenders, and there are providers in the community that can accommodate the nearly 400 mentally incompetent offenders currently waiting in the county jail ( and which are expected to be 1,100) later in the year by prison). ODR vets are potential participants in the likelihood of success, and mental health experts – and Supreme Court justices – rule out accused rapists, murderers, and others unsuitable for community treatment. And again, clinics offer security appropriate to the population in which they live.

Some fear that the state is not providing enough money – yet the county can not only procure the resources offered by the state, but achieve long-term savings, since the costs of housing and treating a mentally incompetent inmate in the community is a fraction of that Cost of placing and treating the same person in prison. Additionally, the county benefits from having each participant connected to a community treatment plan, which avoids much of the future costs of new crimes and incarceration.

The state program is in response to a court ruling that long waiting times for placement in state hospitals are against the constitution (an appeal is pending). The county should take the opportunity to get involved – save money, break the cycle of criminal recidivism and, by the way, demonstrate that promoting alternatives to incarceration was more than just an attitude.