Learning how to adult and sometimes asking for help


Written for Credi Pty Ltd by William Moore

Why should we learn how to adult? I look at today’s youth and often think that the housing affordability crisis, coupled with a lack of education has resulted in a generation without financial literacy.

The current prices of housing in comparison to annual income in Australia has been the cause of much of the public debate in recent years.

The topic has fuelled loud and vitriolic voices on both sides of the argument with strong stances on the causes, the symptoms and whether the crisis even exists at all.

This issue has hit Australian youths more than anyone else. They have had to deal with it on top of increases in education fees and the cost of living. It’s just a confusing world for young people to get a grasp of – plain and simple. Managing and gaining property, stock, and investments all require a level of financial literacy which many young Australians lack.

It definitely doesn’t help that there is a clear inadequacy of financial education in the high school education system, which I believe is imperative to help young adults manage their finances and challenges that often arise in adulthood.

Terms of negative gearing certainly don’t have much to do with cars, and a housing bubble doesn’t sound like it means much either.

Studies surrounding Australia’s housing crisis have shown another symptom for young people, borrowing from family. With little in the way of capital, young people have been increasingly borrowing from their property-owning folks in order to get by.

Borrowing from our parents also known as the ‘bank of Mum and Dad’is having an adverse effect on the country’s economy, in a number of both positive and negative ways. Although beneficial for children whose parent’s are well off, it proves to put children whose parents can’t or simply won’t lend to them at a disadvantage.

All of that aside, borrowing from Mum and Dad doesn’t have to rob young people of their chance to learn valuable financial life skills.

Companies like Credi allow young people to approach their parental loans with a comparative level of financial legitimacy that they would through a commercial lender. The platform helps young people draft up loan agreements, providing them with peace of mind while also educating them in the process.

So check Credi out if you’re wanting to properly manage and formalise loan agreements you have with a family member or a friend. With Credi, it’ll help you wrap your head around the realities of managing your finances, and maybe you’ll even pick up skills and build on your knowledge of finance.


Written for Credi Pty Ltd by William Moore




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