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HomeNewsSaving for deposit: Millennial housing row erupts over ‘$7 coffee’

Saving for deposit: Millennial housing row erupts over ‘$7 coffee’

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A finance guru has divided Australians after ruthlessly ripping into a young man over the iced latte he was sipping on while being interviewed about housing affordability.

James Hayes made the accusation that “broke people waste money” after watching a TikTok of an ABC journalist interviewing the public about whether it was harder for Boomers or millenials to buy a house.

Mr Hayes, who works as a barrister, argued it was unreasonable for the interviewee to complain about not being able to afford a house while “sitting there with a $7 coffee in his hand”.

“Come on bro. You really need to take your personal finances a little more serious than that,” Mr Hayes said.

“Yes I know, saving money on coffee is not going to be able to afford a house, but my gosh if you’re spending frivolous money on that I could probably run a f***ing semi trailer through your budget bro.”

The interviewee was being quizzed by ABC’s business reporter Nassim Khadem in Melbourne who was asking the public, “who’s worse off in the housing market?”

“We have goals and we all want to own a house, it’s still the Australian dream, but I guess we’ll see how we go,” the unnamed man responded.

Mr Hayes slammed the millennial, saying: “He’s literally complaining about not being able to buy a house when he’s sitting there with a $7 coffee in his hand, come on bro”.

Mr Hayes has a disclaimer on his YouTube saying he isn’t a financial adviser and is only providing “general information for education and entertainment purposes” was criticised by other TikTok users.

“Median Sydney house = $1.2 million. 20% deposit – $240k,” one said. “So he only needs to skip 34,286 coffees to get a deposit!”

“Home owner and millennial here. It takes a really effing long time to save a deposit, you still have to live life and enjoy life,” another said.

“Quite a judgmental assumption there,” added a third.

Some said it was strange for a barista to slam someone for buying coffee – which rarely cost as much as $7.

The Tiktoker often slams “frivolous” spending, and claims he makes $7,000 – $10,000 a month as a barista and from investments he made from an inheritance when his mum died.

“But isn’t he the one keeping you in a job lol aren’t you a barista?” questioned one.

“Yeah he should like a hermit no fun no luxury for the lower class,” one commenter wrote.

“Yeah coffee and Netflix is totally the reason why housing is unaffordable. It’s definitely not the income to price ratios” commented a third.

“Shut up bro let the guy enjoy a coffee,” said another.

“Maybe he has a spending budget like some people do? Maybe it’s a once off, maybe houses shouldn’t cost a million for a shack?” said another.

“A coffee might be the only luxury people can afford,” another added.

“If you’re judging the dude off of 10 secs from him drinking that then that’s ridiculous. Buying a coffee every now and then is called treating yourself,” commented one.

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