finances with their tamariki
Money might be the last taboo topic, but entrepreneur Rachel Petero says lifting the veil on her and her partner’s finances have helped them on their quest to become debt-free.
Petero, founder of consultancy Rise2025 and co-author of Take Your Space: Successful Women Share Their Secrets and husband John embarked on a two-year goal to eradicate all of their debt, including mortgages and about $50,000 worth of business debt. They found an expert to steer them on the right course, and reckon by the end of this year they’ll have met their goal.
“When you go through this planning process you have to be very vulnerable,” says Petero, “because you have to share your spending behaviours, (the planners and her partner) see it through... your statements.”
Married for 22 years this year, Petero acknowledges the pair had been “very, very fortunate” to have professional careers that have given them what they need in life, “and really having the incomes we needed to not only sustain a lifestyle, but to invest”.