563 – Debt: The New Normal? Comparing Boomer and Millennial Mindsets

563 – Debt: The New Normal? Comparing Boomer and Millennial Mindsets

Author: Doug Hoyes June 14, 2025 Duration: 30:37

Boomer budgeting tips collide with millennial money challenges in this candid conversation about debt, savings, housing costs, and the rise of gig-work income. Whether saving for a first home or paying off old credit cards, this episode bridges the generation gap with actionable insights for any age, complete with tried-and-true tactics Boomers still swear by, tech-savvy hacks Millennials can't live without.


0:00 - Do Boomers Have It Easier? Debunking Generational Money Myths
3:10 - Why Millennials Lead Insolvency Filings & Credit-Card Debt
6:00 - "Credential Creep": Rising Education Costs and Student Loans
9:00 - Buying a Home: 1980s Down Payment vs. 2020s Reality
13:00 - Starting Adulthood in Debt: How Timing Shapes Finances
16:00 - Shifting Attitudes: From Debt-Free Dreams to "Normal" Borrowing
18:00 - Gig Economy 101: Income Streams Boomers Never Faced
19:30 - Interest-Rate Shocks: Then (18%) vs. Now (Variable & Rising)
22:00 - 31 Flavours of Credit: BNPL, Lines of Credit, & More
25:00 - Boomer Money Rules That Still Work Today
28:00 - Reverse Mentorship: What Millennials Can Teach Boomers

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Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personal guidance from a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions, strategies, or digital tools/apps discussed.


Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 100

Debt Free in 30
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