Life Kit Millennials And Money
Jul 16, 2019
Sam Sanders, host of NPR's "It's Been A Minute," is joined by financial journalist Hannah Seligson and Aminatou Sow, co-host of "Call Your Girlfriend." They explore the emotional ties of millennials to their parents' finances, addressing the stigma of seeking help. The trio discusses generational wealth, privilege, and the complexities of financial support within families. They advocate for open dialogues about money and unpack challenges posed by student debt and rising living costs, shedding light on the unique financial landscape today's young adults navigate.
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Christina's Story
- 22-year-old Christina Krupe lives at home with her parents after graduating.
- She receives financial support, including meals, while working and preparing for graduate school.
The Interest-Free Loan
- Christina's parents offered an interest-free loan for grad school, surprising her.
- She feels uncomfortable about accepting help and hides it, showcasing the complex emotions around family finances.
Millennial Financial Dependence
- Over 25% of employed millennials rely on parental financial support for bills.
- Factors like student debt, increased cost of living, and the 2008 recession contribute to this.