Oyin Adedoyin

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1,572 appearances 36 recordings 1 series first heard Mar 2023 last heard Feb 2025

Oyin Adedoyin’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Pandemic Whiplash Is Causing Young Americans to Ignore Their Bills · 30 May 2023 podcast

And so young adults with lower wage jobs might avoid budgeting and even checking bills because it makes them feel helpless if they don't have the finances to work. matched

support their expenses, you know, budgeting might just make you feel even worse. matched

And millennials in their 30s had the steepest increase in debt of any group since the pandemic. matched

And, you know, that's because millennials are often referred to as the sandwich generation. matched

They both had to support young kids living at home while also supporting maybe aging relatives and family members as well. matched

And so avoidance can really complicate these later milestones that young adults are going through, including buying a home or even saving for retirement. matched

They told me that avoidance is a common coping mechanism for all forms of anxiety. matched

So someone with social anxiety is going to avoid parties. matched

Someone with a fear of heights might never get on a plane. matched

The APA's Stress in America 2022 survey found that 83% of adults reported inflation as a source of stress. matched

So people are really anxious about their finances right now. matched

Yeah, it definitely is psychological and you have to catch yourself when you're going on those spending sprees. matched

So what James went through is really telling because he went on this spending spree of buying Crocs, you know, and his dad called him. matched

He really had a moment where... matched

He had to face reality and start budgeting. matched

For other people, this can look like setting financial goals for themselves by ways of putting a limit on how much money they spend every month. matched

So Alexis, another young adult that I spoke with, she basically puts herself on a specific spending limit for non-discretionary spending, which includes dining out, buying clothes, and doing fun vacations and things with friends. matched

And so every month she limits how much money she spends on those things. matched

Another thing that financial advisors recommend is making financial goals fun by setting them with friends. matched

So let's say, you know, you and your friend want to go on a vacation. matched

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