Need financial advice? Call your mother.
Post Reports
The Washington Post
4.4 • 5.1K Ratings
🗓️ 4 February 2023
⏱️ 24 minutes
🧾️ Download transcript
Summary
At every age and stage of life, we’re faced with making tough financial decisions. Am I ready to buy a house? Should I start saving for retirement? And what the heck is FICA?
For nearly 30 years, Michelle has answered these questions for Washington Post readers. Now, she has compiled her most frequently asked questions in a new project, Michelle Singletary’s money milestones for every age. But, do her own children take her advice?
On this bonus episode of “Post Reports,” personal finance columnist Michelle Singletary talks to her daughters about their finances. Olivia and Jillian are both in their 20s. They sat down with their mom to discuss how they think about their finances as young adults and the children of a finance wiz.
Transcript
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| 0:00.0 | Hey, and happy Saturday. |
| 0:03.6 | It's me, Martine. |
| 0:05.0 | And today, we wanted to bring you a special bonus episode of poster boards. |
| 0:09.4 | So you might recall a recent conversation on the show where my co-host, Alahe Azadi, |
| 0:14.4 | spoke with Michelle Singletary. |
| 0:16.1 | Michelle is a personal finance columnist for the post. |
| 0:19.2 | And she has a new project called Michelle Singletary's Money Milestones. |
| 0:23.4 | And what she told Alahe is that young people sometimes get a bad rap for not being on top |
| 0:27.6 | of their finances. |
| 0:29.4 | We often talk about the younger generation in disparaging ways. |
| 0:34.7 | You know, like they don't want to really work. |
| 0:36.6 | They want to retire early. |
| 0:38.7 | You know, they're overspending on avocado toast. |
| 0:41.8 | And that's just not been my experience working with young adults, including my own young |
| 0:47.2 | adults. |
| 0:48.2 | They are very serious, many of them, about their money. |
| 0:51.2 | And they don't want to make the mistakes that they see older adults do who are crying |
| 0:56.0 | and whining and wearing because they didn't develop good financial habits in their 20s. |
| 1:03.5 | So Michelle and her kids are on the same page about wanting to be responsible with their |
| 1:08.1 | money. |
| 1:09.1 | But they don't always agree on exactly how to do that. |
| 1:12.3 | And that's what they're exploring today. |
... |
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