Ever caught yourself wondering, how on earth do they afford it? Well, there's a good chance it's thanks to the bank of Mum and Dad! And yet, whether or not your friends are getting money from their parents is very rarely spoken about. Of course, there is a huge amount of privilege inherent in this conversation (which is probably why it's not common to say anything!), but when we avoid these conversations, we also fall into the trap of comparing ourselves and wondering what we're doing "wrong". With cost of...
Ever caught yourself wondering, how on earth do they afford it? Well, there's a good chance it's thanks to the bank of Mum and Dad!
And yet, whether or not your friends are getting money from their parents is very rarely spoken about. Of course, there is a huge amount of privilege inherent in this conversation (which is probably why it's not common to say anything!), but when we avoid these conversations, we also fall into the trap of comparing ourselves and wondering what we're doing "wrong".
With cost of living challenges and house prices continuing to rise, more and more young people are relying on an inheritance or significant financial windfall from their parents to help them get ahead in life.
That's why on today's episode, we speak to none other than Maddy's mum Fi and Soph's dad Tony about how they, as our parents, would hypothetically want us to raise a conversation with them about inheritance and borrowing money, in away that is respectful to each individual's financial situation.
But the conversation doesn't end here... We want your thoughts!
Shoot us an email to yigc@equitymates.com or DM us @yigcpodcast and we’ll be collating your thoughts (anonymously of course).
You can also send in your very own money dilemmas to be unpacked by ourselves, alongside our expert contributors in our weekly newsletter - subscribe here.
And whilst you’re on your phone, why not download Australia's highest rated banking app. This episode was brought to you by Up, the bank making dealing with money easy for our generation. And if you download and sign up using the code YIGC, they will deposit $10 into your account. Easy money! T&Cs apply, find them at up.com.au/terms
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In the spirit of reconciliation, Equity Mates Media and the hosts of You’re In Good Company acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today.
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This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives.
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