January 19, 2016

[Ep. 33] Millennial Money Matters with Rob Carrick

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I’m Jessica and I’m a money expert, speaker, Accredited Financial Counsellor Canada®, host of the More Money Podcast, and am currently writing my first book with HarperCollins Canada (2025).
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I was incredibly nervous to interview Rob Carrick from The Globe and Mail for this podcast episode. I’ve been reading his words for years and when it comes to personal finance, he really knows his stuff.

But since Rob is such an awesome guy, when I cornered him at the Canadian Personal Finance Conference this past fall and begged him to be on my podcast, he was kind enough to say yes.

Highlights from this Episode

I love this episode so much because we talked about one of my favourite topics — millennial money matters. As a millennial whose mission is to help other millennials understand the core concepts of personal finance so they can take control of their lives and prosper, well it was more than a treat to talk to someone as passionate about educating Generation Y as I am.

We start off by discussing two of the biggest downfalls of post-secondary students: budgeting and taking on student loans. The facts are that students don’t budget (hey, I didn’t even know what a budget was when I was in university) and they take on student loans without truly understanding what it means to be indebted. It’s no surprise that most university grads are drowning in debt and don’t know how to manage their money.

On top of that, many students are going to university because they believe that’s the right step to take in order to have a successful career down the road.
Unfortunately, that’s just not the case anymore, and many graduates are having a hard time finding a job in their field and have to get a professional certificate for an applied skill just to get their foot in the door (myself included).

Another big topic we discussed was housing. I wrote a lot about my experience house hunting in Toronto last year, but in the end, I backed off and chose to continue renting instead because it just didn’t look like a good investment.

It may have been 10 years ago, maybe even 5, but that just isn’t the case anymore. It was for Generation X and the Baby Boomers, but I agree with Rob in believing that more millennials need to proceed with caution when it comes to investing in property.

More Money Wisdom from Rob

Check Out His Books

Not only is Rob a columnist for The Globe and Mail, he has also penned two books about personal finance. Check them out!
How Not to Move Back in with Your Parents: The Young Person’s Guide to Financial Empowerment by Rob Carrick, 2012
Rob Carrick’s Guide to What’s Good, Bad and Downright Awful in Canadian Investments Today by Rob Carrick, 2009

For more podcast episodes, check out the podcast page.

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