Friends With Money #41: Payday loans


In a tight spot and need money fast? Here's what you need to hear before you consider payday loans.

This week on the Friends with Money podcast, Money's Julia Newbould, is joined by financial coach Karen Eley and mortgage broker Marissa Schulze, to discuss why accessing these lenders can lead to more debt than you can handle.

We discuss:

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  • What are payday loans?
  • Why are Aussies resorting to these types of loans?
  • Can payday loans impact your credit score?
  • What are the alternatives?

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Julia Newbould is one of the hosts of the Friends With Money podcast. She was previously editor of Financial Planning and Super Review magazines; managing editor at InvestorInfo and at Morningstar Australia. Julia co-authored The Joy of Money, a book on women and personal finance. She holds a Bachelor of Economics from the University of Sydney where she serves on the alumni council.

Karen Eley is the Founder of Women Talking Finance, which provides money coaching and financial literacy services to women. She is a Certified Money Coach and holds a Bachelor of Accounting from the University of South Australia and an Advanced Diploma in Financial Planning from Deakin University.

Marissa is a mortgage broker, property investor, property developer and property investment educator. She is the managing director of Rise High Financial Solutions. Marissa holds a Bachelor of Commerce (Accounting and Corporate Finance), a Bachelor of Law (Honours) from the University of Adelaide and a Diploma of Finance and Mortgage Broking.