587 – Should Parents Help Adult Children with Debt?

587 – Should Parents Help Adult Children with Debt?

Author: Doug Hoyes November 29, 2025 Duration: 30:00

With housing costs, student loans, and everyday expenses skyrocketing, more young adults are turning to their parents for financial support. Doug Hoyes and Ted Michalos unpack the emotional, financial, and practical realities behind "helping" adult children, including why many parents feel compelled to assist, and break down the real risks of co-signing, lending money, or tapping home equity to solve a child's debt issues.

(00:00) How costs, debt, and housing pressures shape young adults' expectations
(03:10) Why parents feel compelled to help financially
(06:20) When helping becomes risky for parents approaching or in retirement
(10:00) Enabling, dependency, and how money strains family dynamics
(12:00) Co-signing explained: what parents are really responsible for
(13:30) When support prevents children from developing budgeting or financial skills
(15:05) Alternatives to direct financial help
(17:10) When to involve a Licensed Insolvency Trustee
(18:40) Conditional help vs. open-ended rescue
(25:00) Key takeaway: protect your own financial future first

How Can I Help My Adult Child With A Lot Of Debt?

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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: 500

Debt Free in 30
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