Nov 29, 2025
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?
Joint Consumer
Proposal – Who Can File Together?
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Hoyes Michalos YouTube Channel
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About Debt Relief Options in Ontario
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.