John Haney of All Colorado Mortgage joins us in the studio to talk about one thing that everyone needs, most people like having but no one REALLY wants to talk about: MONEY! In this episode we dig into how some of the features of our times, such as increasing student debt loads and the loss of the “traditional” career path, effects our earnings and the traditional path from school, to marriage to homes to kids. John guides us along the credit scoring path and helps us understand what a good credit score can do for us. We also share some fantastic and not so fantastic money saving ideas.
During the show we mention a few statistics that we are looking at. The chart below depicts the average hourly compensation for a thirty year old from 1979 to 2014. We are making just a little bit more, on average, than our parents’ generation!
This chart looks at how much savings Millennials have, on average, based on age. Our savings rates overall tend to be better than the generations before us.