Financial adviser and equality advocate Jessica Brady has launched the Greenhouse, an online course to improve financial literacy among young people and help close the generational wealth gap.
The idea to start the business was influenced by research commissioned by Ms Brady, which, among other findings, revealed that Gen Z Australians (59 per cent) are more likely than their Gen X (45 per cent) and Baby Boomer (42 per cent) counterparts to admit to mental health problems arising from the elevated cost of living.
“It’s clear younger Australians are feeling the impact of the rising cost of living and are cutting back. Supposedly, the wealth that was accrued during COVID was not shared by millennials or Gen Z,” Ms Brady said.
“Given the rise in stress and impact to their financial goals, there has never been a better time to learn how to use your money wisely and build wealth for the long term.”
Demystifying finances and engaging in more transparent conversations about money are not only imperative to closing the generational wealth gap, Mr Brady explained, but also the gender gap.
Namely, investing is still a male-dominated area, with Ms Brady’s research showing that while nearly three in five Aussies have invested their money in their own name, 71 per cent of men have done so compared to 47 per cent of women.
“Knowledge is power, and lifting the veil on how to build wealth, create realistic financial goals, and manage money without shame or guilt will support creating better equality for all,” Ms Brady added.
“Through my experience, I know that seeking financial advice can be daunting and expensive, which is why I want to help young people get ahead without breaking the bank.”
Explaining the reasoning behind the name Greenhouse, Mr Brady compared building wealth to taking care of a plant.
“Like every millennial knows, growing plants can often be a tricky task, but with the right amount of care, knowledge and patience, you can nurture a plant to grow and flourish.”
The driving force behind her new venture, Ms Brady explained, is empowering young people, particularly women and the LGBTIQ+ community, to better understand their finances in 2023.
“Through this course, I am giving access to a broader audience to take control of their finances, guided by an expert who understands the challenges young people face and can help.”
“I truly believe that we can improve the financial literacy of all Australians, help them build strong financial skills, feel more confident discussing money and taking action on their goals, creating a more prosperous, thriving community which benefits all,” Ms Brady concluded.
