Glen James | Young and cashed up: What millennials need to know about borrowing

In this episode, our hosts chat with expert millennial Glen James, financial advisor and podcast host of “My Millennial Money”. Glen’s business and podcast focuses primarily on millennial financial goals and “sorting your money out”. We get the lowdown from Glen on how millennials are achieving their financial goals, what they are doing to save for their deposit and whose advice should they be listening to; is mum and dad’s financial advice enough?

Here’s what we covered:

• How are millennials currently borrowing?
• Who can you trust to advise you on your money?
• Why advice from previous generations is out-dated.
• What is eating up your savings?
• Why should you ‘lose’ your credit card?
• How has spending, savings and borrowing changed between generations?
• Are subscriptions eating up your cash flow?
• Why you don't need a credit card to build your credit score.
• Are Millennials locked out of the property market?
• How to engage the most appropriate professional advice.

This weeks dumbo:

• Why Should you not buy property because you can.

Elephant rider boot camp

• Rentvesting vs dream home

RELEVANT EPISODES:Episode 116 | Property & Taxes Episode 124 | Martin North Episode 128 | Trends in property investment

GUEST LINKS:Home Buyers Academy - Rentvesting Sort your money out - online course

HOST LINKS:Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: info@gooddeeds.com.au

Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au

Buy the book - AUCTION READY How to buy property at auction even though you’re scared s#!tless:www.getauctionready.com.au Use the coupon ELEPHANT for your 30% listener discount.

Send in your questions to: questions@theelephantintheroom.com.au

EPISODE TRANSCRIPT: Please note that this has been transcribed by half-human-half-robot, so brace yourself for typos and the odd bit of weirdness…This episode was recorded on 4 June, 2020.

See omnystudio.com/listener for privacy information.