Oprah and Business Leader Mellody Hobson Share the Money Advice You Need to Know Now

Subscribe: https://www.youtube.com/@Oprah In this episode of The Oprah Podcast, financial expert and Co-CEO and President of Ariel Investments, ‪Mellody Hobson, offers practical advice to simplify financial conversations for families. Mellody shares details about struggling with money as a child, lessons she's taught her daughter and fascinating historical facts about money from her New York Times best-selling children's book, "Priceless Facts About Money." People from around the country join via Zoom to ask Mellody how to address financial questions and situations with their children.  BUY THE BOOK! "Priceless Facts About Money" by Mellody Hobson, published by CANDLEWICK | PENGUIN RANDOM HOUSE, is available wherever books and audio books are sold: https://www.penguinrandomhouse.com/books/767987/priceless-facts-about-money-by-mellody-hobson-illustrated-by-caitlin-stevens/ Head to myalloy.com and use code: OPRAH for $20 off your first order. 00:00:00 - Welcome Mellody Hobson 00:01:38 - Mellody’s book "Priceless Facts About Money" 00:02:44 - Mellody turned her money trauma into her life’s purpose 00:05:15 - 77% of adults are anxious about money 00:08:38 - Most surprising thing Mellody learned while writing the book 00:10:08 - What most parents get wrong about money and their kids 00:17:56 - Welcome Kelly, mother of two 00:19:43 - How to explain the power of money to young kids 00:23:42 - Welcome Kristi, mother of a teen son 00:25:56 - What's a good saving/spending plan for a teen? 00:28:30 - What is a family-match 401K plan? 00:31:03 - Welcome Lindsay, mother of a 7-year-old 00:31:51 - What age is appropriate for a kid to have a debit card? 00:34:30 - Welcome 21-year-old, Jordan 00:35:29 - What advice would Mellody give to her 21-year-old self? 00:37:20 - What is the rule of 12? 00:39:16 - Mellody’s money advice for young adults 00:44:43 - How much should you have in an your emergency fund? 00:45:30 - The number one money takeaway from Mellody Hobson Follow Oprah Winfrey on Social: https://www.instagram.com/oprah/ https://www.facebook.com/oprahwinfrey/ Listen to the full podcast: https://open.spotify.com/show/0tEVrfNp92a7lbjDe6GMLI https://podcasts.apple.com/us/podcast/the-oprah-podcast/id1782960381