18 minutes | Sep 11, 2017

Anxious Young Women - EP52

The National Australia Bank recently released its Q1 Wellbeing Report, and the findings are troubling: Young women related the lowest wellbeing of all groups, a full 50% reporting high levels of anxiety. The report identified relationships and home ownership among the factors that caused concern for young women, and today Toni discusses why otherwise clever young women have difficulty navigating their finances, and the steps they can take to get educated around money, credit and savings. Toni begins with a comprehensive analysis of the issue: Why are young women anxious? She shares a related scenario discussed on The Barefoot Investor’s blog about a 26-year-old woman making $75K. Despite her success, the young woman had accumulated a heap of debt and the anxiety that goes along with it. Toni dives into the reasons why educated young people lack practical life skills around finances. Toni then explores debt in more detail, discussing some unexpected factors that affect your credit score, ignorance around interest rates and the misleading marketing rhetoric of payday loans. She goes on to stress the significance of financial independence, especially for young women. Finally, Toni covers how her generation learned to save, and how credit has changed the financial game—both for the better and worse. She highlights some simple steps you can take to start saving and encourages young people to get informed about money management. You are vulnerable when you are ill-informed, and as a former educator, Toni is on a crusade to give young people a broad understanding of real estate and to alleviate the anxiety that stems from financial illiteracy!  Topics Covered The findings of the NAB Wellbeing Report Q1 2017 The upsetting statistics around young women and anxiety How the themes of home ownership and relationships affect anxiety levels The significance of self-worth and hope for the future in reducing anxiety The Barefoot Investor’s take on the NAB Wellbeing Report How a young woman making $75K accumulated debt and anxiety Why young people are not educated in the areas of money, credit or interest rates Society’s role in keeping girls ill-informed about finance and savings The misleading language around payday loans How owning a home plays into the Australian Dream The myth of a man on a white horse The need for young women to be financially independent How much financial illiteracy costs the nation Why otherwise clever young women may not know how to manage money The role of banks in improving financial literacy How the baby boomer generation learned to save The pros and cons of credit How cutting back on little things can save significant amounts of money Why a lack of understanding makes you vulnerable Toni’s crusade to inform young women about finance and real estate Learn More About Home Ownership Among Young Women Read the NAB Wellbeing Report at http://business.nab.com.au/wp-content/uploads/2017/07/australian-wellbeing-survey-q12017.pdf. Check out The Balance article, “Why More Single Women Are Becoming First-Time Home Buyers” at thebalance.com/single-women-buy-homes-too-1798358, and “More Women Own Their Own Home” in Domain at domain.com.au/news/more-women-own-their-own-home-20130729-2qtl8/. View the Sweeney Research Report: Westpac Gen Y Women and Home Ownership at https://www.westpac.com.au/docs/pdf/aw/Westpac_GenYFemales-FocusedAndSavvy__Executive_Summary.pdf. Learn more about the Barefoot Investor and his take on why young women are anxious at https://barefootinvestor.com/young-women-miserable/. Order your copy of Toni’s book, Her Property, at http://planinsek.com/product/her-property-book/. To learn the fable of The Richest Man in Babylon by George S. Clason, go to amazon.com/Richest-Man-Babylon-George-Clason/dp/0451205367. If you have additional questions or suggestions for future podcast topics, email Toni at toni@planinsek.com, and take advantage of her resources for beginners in real estate at planinsek.com. Additional information regarding Toni’s real estate business can be found at planinsekproperty.com.au, and her business email is toni@planinsekproperty.com.au.
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