YouSaid · the spoken record

Mellody Hobson

lines on the record: 64
first: 2025-06-17
most recent: 2025-06-17
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“The trades jobs also because of scarcity that we've had in this country, they're making really good living. Yeah, we're going to talk to some.”
2025-06-17 · The Oprah Podcast · Oprah and Mellody Hobson: Best Money Advice for Gen Z · IDENTIFIED FROM THE TRANSCRIPT
“Correct. Now, here's the thing about the degree there is a direct correlation between how much education you get in the society and how much money you make. So if you graduate from high school, you make one amount. You graduate from college. You do make more. You get a master's, you make more than that. This is just a fact. I can show you this across all sorts of field. However, the gap isn't as wide as it was before. And some other areas like trades.”
2025-06-17 · The Oprah Podcast · Oprah and Mellody Hobson: Best Money Advice for Gen Z · IDENTIFIED FROM THE TRANSCRIPT
“Exactly. You know, having to achieve something like a degree. The worst thing you can do, worst. Go to college, you take on student debt, and you don't graduate. That's the kiss of death, because you don't have the degree and you have all the debt. It'd be better not to go to college. In that situation, you don't have the debt. But if you go and you fall short of the degree, it is.”
2025-06-17 · The Oprah Podcast · Oprah and Mellody Hobson: Best Money Advice for Gen Z · IDENTIFIED FROM THE TRANSCRIPT
“The best money they've ever spent. There is good debt and there is bad debt. I consider education good debt. And even though it costs a lot and that student debt can be with you for a long time, I want to start with just the fundamental idea, which I know you'll agree with. You are learning. And that is something that people can never take away from you, ever. The gift of an education is something that is a gift that keeps giving. And so I really want to make sure we understand the most fundamental piece of it. And I think the smarter person goes through life with better decision making, better socialization. I could get better discipline.”
2025-06-17 · The Oprah Podcast · Oprah and Mellody Hobson: Best Money Advice for Gen Z · IDENTIFIED FROM THE TRANSCRIPT
“Paying interest on multiple things. Yes, I don't want to pay. So, you know, to the extent that everyone, and I know this is impossible for everyone to buy something and pay it off, it is absolutely the best way so you're not carrying that debt. But if you have to carry debt, do not just pay the minimum. Even a few dollars can make a difference, five dollars more, ten dollars more than that minimum payment can take years off of debt, literally years.”
2025-06-17 · The Oprah Podcast · Oprah and Mellody Hobson: Best Money Advice for Gen Z · IDENTIFIED FROM THE TRANSCRIPT
“Green, not fancy I used one card. I use one card. And then my chase debit card. And that's it because I don't want any balances. Now,”
2025-06-17 · The Oprah Podcast · Oprah and Mellody Hobson: Best Money Advice for Gen Z · IDENTIFIED FROM THE TRANSCRIPT
“Correct. That's a really, really excellent point. So, one example is just the debt, the credit card debt. Now, the credit card debt is higher. But even if you adjust for inflation and even adjust it for inflation, it's 25% higher than the previous generation. So credit card debt is higher. But that cycle of multiple credit cards, of paying the minimum payment, this is a lifetime of debt. And just convincing them that that debt that they have to break the cycle on that debt in terms of the number of credit cards they have, as I said, paying the minimum. I bought props for you just to see my own props.”
2025-06-17 · The Oprah Podcast · Oprah and Mellody Hobson: Best Money Advice for Gen Z · IDENTIFIED FROM THE TRANSCRIPT
“Well, I think there are a couple, and these mistakes are the same old mistakes. Okay. I wish I could say they were new. They're not. They're repeating the mistakes of prior generations. And some of those mistakes are everything from...”
2025-06-17 · The Oprah Podcast · Oprah and Mellody Hobson: Best Money Advice for Gen Z · IDENTIFIED FROM THE TRANSCRIPT
“It's a real year old. The average age of a home buyer today average is 56 years old. What? Yes. So I thought about that from the perspective of you're 56 and you have a 30 year mortgage. Wow. Right? Yes. The average age is 56 years old right now. So these are real things. But the first time homebuyer, which is, you know, what they want to be, the average first-time homebuyer is 38. So this has gotten away from them. The home purchase has been delayed. I still think that it doesn't mean that it's deferred not. Know not something that will be denied.”
2025-06-17 · The Oprah Podcast · Oprah and Mellody Hobson: Best Money Advice for Gen Z · IDENTIFIED FROM THE TRANSCRIPT
“That is 10 years older than Gen X. So we were buying homes in our 20s. They were buying homes in their 30s, living with their parents longer, renting longer. And so there is actual data to show that American dream, that home purchase has been further, is further and further away. Here's the other thing. You're right.”
2025-06-17 · The Oprah Podcast · Oprah and Mellody Hobson: Best Money Advice for Gen Z · IDENTIFIED FROM THE TRANSCRIPT
“So they still want to own a home, it feels a little bit further away, and that is actually proven to be true. Again, the data. I always like to say math has no opinion the first time home buyer average age right now is 38 years old”
2025-06-17 · The Oprah Podcast · Oprah and Mellody Hobson: Best Money Advice for Gen Z · IDENTIFIED FROM THE TRANSCRIPT
“It's not just in our head. It's not made up. They weren't frivolous. But there are things that account for it. You talked about student loans. In the last 20 years, college has costs have doubled in 20 years. So that's real. Those are big numbers and a lot of them are taking out loans to pay for that education. The other thing you talked about is inflation. Inflation was virtually dead for decades. And it's come back really strongly in the last few years. So inflation, just the cost of living has gone up much more than it was before. And then you talked about housing. We've also seen big changes in housing prices in this country. And so that is absolutely affected them as less homes get built and there's less inventory. How's this cost more? And that is something that has actually happened. And you've seen that starting during COVID, where everything in terms of new homes being built slowed down dramatically.”
2025-06-17 · The Oprah Podcast · Oprah and Mellody Hobson: Best Money Advice for Gen Z · IDENTIFIED FROM THE TRANSCRIPT
“So there are 67 million of them, ages 13 to 28, just to we can establish. That's what we're talking about. 67 million of them. So this is a big group of people. They are going into the world with a greater financial burden than the previous generation before them, which would be the millennials.”
2025-06-17 · The Oprah Podcast · Oprah and Mellody Hobson: Best Money Advice for Gen Z · IDENTIFIED FROM THE TRANSCRIPT
“Because it's so absent in our society, it creates so much fear. And I think I've worked really hard to make, to break it down and make it approachable. So I think that was part of the reason that it went so well.”
2025-06-17 · The Oprah Podcast · Oprah and Mellody Hobson: Best Money Advice for Gen Z · IDENTIFIED FROM THE TRANSCRIPT