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Health At What Cost? · She's On The Money

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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud Order
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Speaker 1: Order Kerni Whoalbury and a waddery woman. And before we
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Speaker 1: get started on She's on the Money podcast, I would
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Speaker 1: like to acknowledge the traditional custodians of the land of
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Speaker 1: which this podcast is recorded on a wondery country, acknowledging
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Speaker 1: the elders, the ancestors and the next generation coming through
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Speaker 1: as this podcast is about connecting, empowering, knowledge sharing and
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Speaker 1: the storytelling of you to make a difference for today
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Speaker 1: and lasting impactful tomorrow.
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Speaker 2: Let's get into it. She's on the Money.
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Speaker 3: She's on the Money.
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Speaker 2: Hello, and welcome to She's on the Money cast for
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Speaker 2: millennials who want financial freedom. Today, my friends, it is
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Speaker 2: Friday again, which means it is time to get a
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Speaker 2: little team together and celebrate you how incredible. She's on
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Speaker 2: the Money community today, mister Garci's going to be sharing
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Speaker 2: our favorite money wins from the community. Miss becksayed she's
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Speaker 2: here to share her favorite broke tips. We'll be helping
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Speaker 2: to answer a juicy money dilemma, which this week is
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Speaker 2: all about private health insurance, and we're going to be
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Speaker 2: unpacking something that you slid into our DMS, about which
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Speaker 2: this week we're talking about being ghosted by a family
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Speaker 2: member who owes you fifteen grand Yeah? Wild right. But
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Speaker 2: before we get there, my friends, how have your weeks been?
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Speaker 1: Bear?
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Speaker 2: Let's start with you.
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Speaker 4: Well, what have I been doing this week? It's actually
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Speaker 4: been really really lovely.
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Speaker 2: She was an employed girl.
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Speaker 4: I'm employeed Hella. I did, though, unfortunately get in aviction. Notice,
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Speaker 4: I know I've forgot to know you guys.
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Speaker 2: Sorry, I just forgot that.
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Speaker 4: Yeah, I've got I'm actually homeless right now.
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Speaker 2: Come into the studio. I'm like, how are you backing?
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Speaker 2: You're like, great, they are.
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Speaker 4: Nothing to report only yeah, I know it.
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Speaker 2: So it's what happened when where?
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Speaker 4: How It's just that our house is apparently in the
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Speaker 4: habitable How do I say that uninhabitable? Uninhabitable just because
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Speaker 4: you live there? Yeah, And it's also like the rent
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Speaker 4: is really cheap, and we love this.
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Speaker 2: Place, like it because it's bad, because.
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Speaker 4: It's really bad, and like we didn't mind, like we
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Speaker 4: never complained. There is literally like the front of the
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Speaker 4: house is detached from the rest of the house. It's
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Speaker 4: just it's falling down. It's going to fall one day
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Speaker 4: and there's the holes in my roof, Like, but we
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Speaker 4: don't mind. We love this location, we love this house.
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Speaker 2: Your optimism is something that they wish more of us shared.
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Speaker 4: But yeah, unfortunately they did have someone come through and
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Speaker 4: just like do their their regular checks and like what
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Speaker 4: they can. They must have been shocked.
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Speaker 2: They were pretty sure that you were not complaining genuinely
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Speaker 2: before that becks like, don't tell them it's really cheap.
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Speaker 2: Don't bring that up. Don't bring it up like you
3:01
Speaker 2: guys probably have issues. And then you just don't tell
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Speaker 2: the real estate agents. And when the check, they're like, sorry,
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Speaker 2: I thought we're coming to check a house. What is this?
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Speaker 4: Yeah, basically we will found out. Everyone was found out.
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Speaker 4: They need to do renovations and kick us out. But
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Speaker 4: it's okay, you.
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Speaker 2: Know, we're not okay.
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Speaker 4: We're going to maybe try and reapply after even though
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Speaker 4: it's going to be way less cheap.
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Speaker 2: But yeah, you know, you do you got to do.
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Speaker 2: You've got to find a house in the interim. Yeah, stressful.
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Speaker 4: So for anyone listening, I am on the house hunt.
3:30
Speaker 4: I am I am in the house hunt.
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Speaker 2: I like this very you know we should try and
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Speaker 2: sell you like, yeah, not actually for money, but like
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Speaker 2: we should pitch you as no, we're a housemate to have.
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Speaker 5: True.
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Speaker 2: So if anyone is based in Melbourne, what's your ideal suburb?
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Speaker 4: Okay, ideally feel through a North Carton North.
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Speaker 2: Okay, we're looking for a room in Fitzroy Carlton North
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Speaker 2: six five four walls.
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Speaker 4: Yeah, I think that's one of anything.
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Speaker 2: Like that's negotia sable where opened to detach?
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Speaker 4: Are I'm over to three, I'm over to two. I
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Speaker 4: there's no prerequisites on my end.
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Speaker 2: I feel like you'd be a great housemate too, I really,
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Speaker 2: I really, You and I would live together and I'd
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Speaker 2: come home and I'd be like, sorry, I ate all
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Speaker 2: the leftovers you left in the freege and you'd be like,
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Speaker 2: no worries. They were really good, weren't they. You're allowed
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Speaker 2: If my ages as stuff should come after you with
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Speaker 2: the hunting knife.
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Speaker 4: It said my name, it would say her name and
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Speaker 4: the date that she opened it, even though she's the
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Speaker 4: only one that's going to go eat that. Yeah, that's and.
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Speaker 2: It would like be incursive as well, Jessica.
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Speaker 5: I wrote it on the cricket, all different type faces,
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Speaker 5: just in case yep, yep.
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Speaker 2: I like it just would be like, but I text
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Speaker 2: you about that. I text you, I labeled it. I
4:46
Speaker 2: also sent an email and there's a memo on the
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Speaker 2: house noticeboard to not eat my things.
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Speaker 4: That in the actual newspaper the Cday Morning, Harold, I
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Speaker 4: was actually in the week. I think everything will be okay,
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Speaker 4: everything will work out.
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Speaker 2: I'm sorry, thank you. So that's really terrible.
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Speaker 4: I'm sorry because it's cut.
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Speaker 2: That's just really trash.
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Speaker 4: Well, you know, you do what you got to do.
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Speaker 4: I guess it's nice.
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Speaker 2: I got a new sofa bed if you need a
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Speaker 2: room interim, so you just let me know. The house
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Speaker 2: does have three pets and a baby though, so I'm
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Speaker 2: not sure you'll be sold on it, but like I
5:17
Speaker 2: can try.
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Speaker 4: You get what you get though, you get an extra baby.
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Speaker 2: Yeah, Jessica, how are you. I'm good.
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Speaker 5: It's been a bit of week, you know, just you know,
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Speaker 5: I can't complain.
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Speaker 2: I feel like you're really gone.
5:33
Speaker 5: And she's like, whoa, and yeah, have you seen the
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Speaker 5: new inside Out movie yet? You guys inside don't they
5:42
Speaker 5: they get anxiety? So when we saw the first one,
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Speaker 5: James was like, have you seen the first one?
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Speaker 2: They're sad?
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Speaker 5: So yes, like you need to need to watch everything
5:55
Speaker 5: sad and James like, that's kind of sometimes you And
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Speaker 5: then we saw the new one and anxiety he was
6:00
Speaker 5: there and he was like, maybe that want's you. So anyway,
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Speaker 5: I feel like I've just been really feeling the feel
6:05
Speaker 5: this week my.
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Speaker 2: Poor having some healthy shues with my cat. Unfortunately he'll
6:11
Speaker 2: be okay, but it's just challenging when it happens, stressful.
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Speaker 5: And it's crazy because like, obviously you know that you
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Speaker 5: love your pets day day, like you're very conscious of
6:19
Speaker 5: the fact that you love them.
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Speaker 2: You do all them in your babies, but.
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Speaker 5: Like when they're sick, I'm like, oh, like you are
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Speaker 5: my child, you are my ward and I am solely
6:29
Speaker 5: respond like because they can't talk to you too.
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Speaker 2: It's so hard. So I just have been so upset
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Speaker 2: and worried.
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Speaker 5: And feeling like a bad parent because he's been unwell
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Speaker 5: and it's gonna be a lot of money to deal
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Speaker 5: with and say like that's stressful. But I came into
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Speaker 5: a lovely surprise, so like silver lining, I came in
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Speaker 5: and she's got a crazy treat for me, which is lovely,
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Speaker 5: So I can't complain. It's been a good week. I
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Speaker 5: bought a sewing machine two so I saw that on TikTok.
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Speaker 2: I saw that on TikTok. She's in her sewing error.
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Speaker 5: I'm gonna channel all of my energy into making a really.
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Speaker 2: Cute pair of hopefully right now. I would like to
7:03
Speaker 2: point out that she hand sewed her entire Taylor swift
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Speaker 2: eras tour.
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Speaker 4: Yeah, so haberdasheris y yeah.
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Speaker 2: And then I would argue that this is a later purchase.
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Speaker 2: It should have been an earlier purchase. Your life would
7:19
Speaker 2: have been much easier with the sewing machine. But you
7:21
Speaker 2: get what you get and you don't get upset incredibly.
7:24
Speaker 2: I feel like we need to take you back to
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Speaker 2: year seven textiles and find one of those like workbooks
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Speaker 2: that we had in grade seven for textiles of you know,
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Speaker 2: how to do basic sharing, how to do basic stitches,
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Speaker 2: and you can start there and then making box of shorts.
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Speaker 5: I'm going to make a little bow tar. I'm going
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Speaker 5: to be hopefully churning out the projects.
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Speaker 2: I'm excited. Energy is going to go there. How's your
7:44
Speaker 2: week been. My week's been good. It was my birthday
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Speaker 2: last weekend, which was really fun. I feel like the
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Speaker 2: older you get, the less you do for your birthdays.
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Speaker 2: So I did approximately nothing. I went out and it
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Speaker 2: was love lunch and it was delicious. I think the
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Speaker 2: most exciting thing that happened on my birthday was I
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Speaker 2: met my best friend's new baby, and that just made
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Speaker 2: my entire day. So I was sold. I kind of
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Speaker 2: like walked into the cafe, beelined for her baby, took it,
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Speaker 2: ran yeah, this is mine now, thank you? Yeah. I
8:14
Speaker 2: mean that would be unacceptable if I didn't know her
8:16
Speaker 2: so well, so do ask for consent when wanting to
8:19
Speaker 2: pick up someone else's baby. But it made my day.
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Speaker 2: And then I had two babies. I had my baby
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Speaker 2: and her baby, and I was like, you guys can
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Speaker 2: be friends. Yeah, you guys timed that so well. It
8:29
Speaker 2: was so accidental. The day she told me that she
8:32
Speaker 2: was pregnant, I literally cried. I was like, you can't
8:34
Speaker 2: be because I am like, this is so rude, like
8:37
Speaker 2: and so now baby's like four months apart, and I
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Speaker 2: just think that's the coolest thing ever, because like, in
8:41
Speaker 2: the grand scheme of things, four months is.
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Speaker 4: Nothing like totally, which is just so cool.
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Speaker 2: It's just so cool. Anyway, bestI is or married or married,
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Speaker 2: Oh so sweet. I am working towards the long game
8:54
Speaker 2: of one day being related to my best friend. I
8:57
Speaker 2: might imagine.
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Speaker 4: It's so sweet.
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Speaker 2: We would be the best mother in laws.
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Speaker 5: How easy would life be if your mum's were best friends?
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Speaker 2: So good, Harvey, if you're listening to this, I've got
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Speaker 2: a girlfriend for you in the future. Easy done. Until
9:12
Speaker 2: then you can just be friends. That's fine, that's fine. Anyway,
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Speaker 2: let's get on to the community. Jess. You were saying
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Speaker 2: before that there are some good money wins this week,
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Speaker 2: so I want to know what have you pulled out?
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Speaker 5: Absolutely a very timely one this week from Casey, who
9:26
Speaker 5: sent I sent in all the details for my tax
9:28
Speaker 5: return on July first.
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Speaker 2: I've been working on it for the few weeks. That's
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Speaker 2: a lie.
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Speaker 5: No one does that, so that it was ready to
9:34
Speaker 5: send through as soon as the financial year ticked over.
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Speaker 5: I also managed to save enough to purchase some much
9:40
Speaker 5: needed deductible items in the last week. And I'm like,
9:44
Speaker 5: I like to be organized with my tax return, like
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Speaker 5: I want that money asap, but I'm not July first.
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Speaker 2: Kind of material. So hats off to you, Casey. Well done.
9:52
Speaker 2: July first is so impressive. Crazy.
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Speaker 5: Imagine being the first, Like, I wonder if someone Yeah,
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Speaker 5: I wonder if there's someone out there who's literally like
10:01
Speaker 5: twelve oh one.
10:02
Speaker 2: It has to be a man at the ATO who's
10:04
Speaker 2: like looking at submissions. I know it's all done electronically,
10:07
Speaker 2: so just sit down, but imagine if there's someone who's like,
10:10
Speaker 2: who was first? How do you know?
10:12
Speaker 5: I wish there was like there has to be a fact,
10:14
Speaker 5: and I wish there was like a little a little
10:15
Speaker 5: certificate or something, because like when you signed your books
10:18
Speaker 5: for the new book launch that came out the Money
10:20
Speaker 5: Diaries is She's and the money you wrote in the
10:22
Speaker 5: first book you signed, this is the first book signed.
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Speaker 2: So I've done that always with all of my books.
10:27
Speaker 2: I'm like, this is my first signed book, even if
10:29
Speaker 2: it yeah, but I just thought it was really hart.
10:31
Speaker 5: Imagine you taxed your can and coming back and being like,
10:32
Speaker 5: by the way, great job, baby, You're just like I
10:34
Speaker 5: just think that would be so funny.
10:36
Speaker 2: I just like winning, so that would be like I
10:38
Speaker 2: just need to know, Yeah, where did I see it? Crazy?
10:41
Speaker 2: Maybe it was Casey? Who knows.
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Speaker 5: Next, I've got a money win from Mia who said
10:44
Speaker 5: she ended up getting a dream role at Amazon, which
10:48
Speaker 5: on top of base salary, has a two year sign
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Speaker 5: on bonus and shares as a part of her package.
10:55
Speaker 5: Money win is that it will allow her and her
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Speaker 5: husband to not worry about cost of living too much
10:59
Speaker 5: right now. Money loss push her into the next tax bracket,
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Speaker 5: which is arguably not a bad problem to have.
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Speaker 2: Totally. I don't feel bad for you. No, congratulations me out.
11:07
Speaker 2: That's very exciting. Congrat's.
11:09
Speaker 5: Next, I've got a money in from Claire, who said
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Speaker 5: my iPhone stopped charging, so I bought a refurbished iPhone
11:14
Speaker 5: online in excellent condition, switched from Telstra to amaze him,
11:18
Speaker 5: and she's now only paying thirty dollars a month and
11:21
Speaker 5: she gets all of her data and it rolls over.
11:23
Speaker 5: Oh great, love that. Next, I've got a money in
11:26
Speaker 5: from Courtney, who said she ordered herself a top up
11:29
Speaker 5: of the go to Skincare very useful face cream.
11:33
Speaker 2: That's stuffs delicious, so good. We love bitg to skincare.
11:36
Speaker 2: In this house.
11:37
Speaker 5: They were running a Lucky Dip promotion at the time,
11:39
Speaker 5: where you would get two full sized products randomly selected
11:42
Speaker 5: for free, and she had another tub of the face
11:44
Speaker 5: cream as well as a boy.
11:47
Speaker 2: That's like something you already wanted.
11:50
Speaker 5: She's like, this is amazing, one hundred and thirty dollars
11:52
Speaker 5: a free product and I literally use it daily.
11:54
Speaker 2: How good?
11:55
Speaker 5: Incredible.
11:56
Speaker 2: Imagine if you've got a free face hero jess.
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Speaker 4: Oh Fazer delicious.
12:00
Speaker 2: We love bathing that stuff at night. I'm like, I'm
12:04
Speaker 2: going to bed oily every night I wake feels yeah.
12:09
Speaker 2: And the little seal, I'm just the little baby seal.
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Speaker 5: And then lastly, I've got a money win it this
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Speaker 5: week from Summer, who said she participated in an online
12:18
Speaker 5: study recently and it covered part of her grocery cost.
12:21
Speaker 5: She also made to get ten percent off, and there
12:24
Speaker 5: was an extended layby option, which means she's managed to
12:26
Speaker 5: get a bunch of things sorted out ahead of time
12:29
Speaker 5: at a hugely discounted price.
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Speaker 2: Great good work. I feel like that's a very good bunch.
12:34
Speaker 2: That's it.
12:34
Speaker 5: She's tidied it all together. And don't forget layby. We
12:37
Speaker 5: love a layby, love a labor. Christmas is coming. We're
12:40
Speaker 5: in the Christmas half of the year. People, It's officially
12:44
Speaker 5: Christmas season. Okay, okay, calm down, calm down. Christmas is sweaty,
12:51
Speaker 5: Christmas is.
12:51
Speaker 2: Jessica's crack I'm actually so surprised that when she said, oh,
12:56
Speaker 2: I bought a sewing machine this week, that she wasn't like,
12:58
Speaker 2: I'm decorating the house Christmas like, honestly, Christmas is ess
13:03
Speaker 2: it's time to shine. I do have to disclaimer that
13:06
Speaker 2: she is often in charge of all of the She's
13:08
Speaker 2: on the Money Christmas episodes because who better to do
13:11
Speaker 2: it than missus clause we.
13:12
Speaker 5: Love a Christmas moment and you start lay by. Now,
13:15
Speaker 5: pay a little bit of money each week or each
13:17
Speaker 5: month between now and Christmas, and it might be a
13:20
Speaker 5: little easier for you.
13:21
Speaker 4: Absolutely, you look like a Christmas star today. I should say,
13:23
Speaker 4: what's thet you pop a top of Christmas tree?
13:26
Speaker 2: Put an angel on top of the tree. Seriously, I
13:30
Speaker 2: want to know you're broke. To say if you lay
13:32
Speaker 2: by is also a good broke tip. Now, that is
13:35
Speaker 2: so true, because I feel like someone like you bet
13:39
Speaker 2: who you're like, I'm not going to save It's just
13:40
Speaker 2: not going to happen. But if I took a little
13:42
Speaker 2: bit away from you each month and then at the
13:44
Speaker 2: end was like, oh, by the way, here's all your
13:47
Speaker 2: Christmas presents, you'd be like they're basically free.
13:49
Speaker 4: Yeah, I really do like that idea. And I guess like,
13:53
Speaker 4: if you get to the end of the year or
13:54
Speaker 4: whenever you've paid it off and you don't want it anymore,
13:56
Speaker 4: can you get a refund because I.
13:57
Speaker 2: Feel like that.
13:57
Speaker 4: You know, I don't leave four hour gap, as you say,
14:01
Speaker 4: between you and your purchase, surely because.
14:03
Speaker 2: You haven't taken the product totally, so I feel it's
14:05
Speaker 2: still for sale potentially.
14:07
Speaker 4: Yeah, it's a cheeky way to save money.
14:09
Speaker 2: Oh god, no, we're not using No, I don't endure that.
14:13
Speaker 2: But I see, I see your logic. I admire the
14:17
Speaker 2: logic and picking up the logic and putting it in
14:19
Speaker 2: the bin.
14:21
Speaker 4: Okay, well I'll fish it out.
14:25
Speaker 5: I love that I.
14:30
Speaker 2: Live I live on TikTok Ala Bell. It means in
14:35
Speaker 2: the bin, yeah, man.
14:37
Speaker 5: And he just describes people doing things. He's like, if
14:40
Speaker 5: you go to dinner and he doesn't open the door
14:41
Speaker 5: for you, it's just like, it's we've got to share.
14:44
Speaker 2: It's so funny. If you go to dinner and he
14:46
Speaker 2: doesn't pull the chair out for you.
14:48
Speaker 4: Bell, it's so beautiful.
14:51
Speaker 2: It's beautiful. And he's got a beautiful, smooth French voice.
14:55
Speaker 2: He knows what he's doing anyway, what's your broke tip?
14:57
Speaker 1: Oh?
14:58
Speaker 4: Yeah, okay, I don't have anything French related, but if.
15:01
Speaker 2: You just say your broke tips in a French accent.
15:04
Speaker 4: Oh, I'm really bad at French accent.
15:07
Speaker 2: Okay, let's not do that. I feel like we defend
15:09
Speaker 2: a few people anyway, so I may as well.
15:11
Speaker 4: Not barrass myself now. As you guys know, if you
15:15
Speaker 4: do have any broke tips, please send them through to
15:17
Speaker 4: me at Beckside.
15:18
Speaker 2: Be easy, s y D.
15:20
Speaker 4: I am running low. So all three of these are
15:23
Speaker 4: not from my girlfriend. One of them is from a
15:25
Speaker 4: community member named Pessica.
15:31
Speaker 2: Did you hold on? Did you go and do your
15:33
Speaker 2: homework by asking your girlfriend to do it for you?
15:35
Speaker 2: You're surprised.
15:36
Speaker 4: She's shockingly good.
15:37
Speaker 2: She's got so many you know, right, we won't hold
15:41
Speaker 2: that again. Shout out to Beck's girlfriends. Jessica, not this Jessica.
15:45
Speaker 2: It turns out all Jessica's are legends, so turned out
15:48
Speaker 2: comes of the name. So this way weird Beck. Instead
15:51
Speaker 2: of broke tips from the community, we have broke tips
15:53
Speaker 2: from jess What are they?
15:55
Speaker 1: Do?
15:55
Speaker 6: You know that?
15:56
Speaker 4: So the first one is actually kind of smart, so
15:59
Speaker 4: it's foundation membership. So yeah, yeah, I think a lot
16:04
Speaker 4: of like a lot of the community members to kind
16:06
Speaker 4: of send in. Also, this is another just like aside.
16:08
Speaker 4: If you send me a broke tip and I haven't
16:10
Speaker 4: mentioned it, I'm really sorry. It's probably because I've said
16:13
Speaker 4: it before in some sort of other way, So just
16:15
Speaker 4: know that I will read yours out unless it's been
16:17
Speaker 4: mentioned before. So one that we do mention is say,
16:20
Speaker 4: you know, go for trials different gyms and things like that.
16:23
Speaker 4: Great idea, but if you don't want to kind of
16:26
Speaker 4: like go through the effort of making I have like
16:29
Speaker 4: seventeen emails from just doing different trials, And if you
16:33
Speaker 4: don't want to do that, just google gyms that are
16:36
Speaker 4: opening near you, gyms that are maybe having like a
16:38
Speaker 4: renovation sale or like end of financial year, all these
16:40
Speaker 4: different things. It's always a big sale on But the
16:43
Speaker 4: Foundation memberships are very, very cheap. I currently pay like
16:46
Speaker 4: thirteen dollars anytime finness and I will forever.
16:48
Speaker 2: That's actually such a good deal.
16:50
Speaker 4: Totally, it's so cheap, So just have a look before
16:53
Speaker 4: you commit to anything. You can trial in the meantime.
16:56
Speaker 4: But if you do know that there's something that's being
16:59
Speaker 4: built or something in the works and they have a
17:01
Speaker 4: foundation membership sale. Just give it to go.
17:04
Speaker 2: Okay.
17:04
Speaker 4: The next one is take stuff to not op shops.
17:07
Speaker 4: I don't know if this is cheeky or not, but
17:09
Speaker 4: go to like, you know, your good Buys or your
17:11
Speaker 4: my one of my friends has a shop in Brunswick
17:14
Speaker 4: called Still Good. You basically take your clothes and they
17:16
Speaker 4: will give you money or like a credit or.
17:18
Speaker 2: Something like that. So what's it called consignment? Consignment store?
17:22
Speaker 4: Thank you?
17:23
Speaker 2: Okay, I like money, so this is.
17:25
Speaker 4: A good Money is good even if it's a credit
17:28
Speaker 4: for other clothes. I feel like it's a I.
17:30
Speaker 2: Mean, that's a good deal if you're planning on donating them,
17:33
Speaker 2: but you're in that like limbo of like it's too
17:35
Speaker 2: good to just like donate, Like should I be selling them?
17:39
Speaker 2: Should I be like Jess and put it all on
17:40
Speaker 2: deep hop? No, I can't be. But like that's a
17:42
Speaker 2: good interim.
17:43
Speaker 4: Totally exactly. So yeah, a little bit of extra cash
17:47
Speaker 4: just splash on the side. And then this third one
17:50
Speaker 4: is probably more amazing. I don't know if you guys
17:53
Speaker 4: personally will use this, but you know I love Meredith,
17:56
Speaker 4: you know I love Golden planes. All these kind of
17:58
Speaker 4: music festivals, and I feel like obviously a lot of
18:00
Speaker 4: people do know about like volunteer positions. I would recommend
18:04
Speaker 4: ahead of time if you want to get yourself a
18:06
Speaker 4: free ticket and do minimal work. It's probably just probably
18:10
Speaker 4: actually quite hard work. But I'm looking at it from
18:12
Speaker 4: the outside, it's very rainbows and butterflies. Try and inquire
18:15
Speaker 4: about volunteer positions, whether that's day one, day two, you
18:18
Speaker 4: don't have to work the whole time. Maybe try and
18:20
Speaker 4: get a job in a food truck there and just
18:22
Speaker 4: like get like one shift and the whole thing for
18:26
Speaker 4: the rest of the trip you just enjoy, you know
18:28
Speaker 4: what I mean. So try and get a just a
18:30
Speaker 4: small shift one two here and there. Volunteer work in
18:33
Speaker 4: a food truck, whatever you've got to do, work behind
18:35
Speaker 4: the bar. You get full free entry and hopefully some
18:40
Speaker 4: free food and drink.
18:42
Speaker 2: That's so good question. How do I volunteer for Taylor Swift?
18:46
Speaker 5: Literally, I feel like a lot of people I saw
18:49
Speaker 5: this thing every I'm like trying.
18:50
Speaker 2: Not to pay me. I would have worked for free
18:53
Speaker 2: any job in that stadium within earshot.
18:56
Speaker 4: I'll message her. Actually, yeah, because you just call Taylor.
19:00
Speaker 4: I could I'll call her, just call her up. I
19:03
Speaker 4: can absolutely do that. Absolutely. The time zone is a
19:05
Speaker 4: bit funny. Oh, okay, a text, I'll share a text.
19:12
Speaker 2: All right, guys, let's go to a quick break. On
19:13
Speaker 2: the flip side, we're talking about private health insurance. But
19:17
Speaker 2: on the juicy side of things, we're going to be
19:19
Speaker 2: talking about getting ghosted by a family member who owes
19:22
Speaker 2: you fifteen grand So don't go anywhere, guys. Welcome back everybody.
19:31
Speaker 2: Let's take a listen to this week's money dilemma.
19:35
Speaker 6: Hi.
19:36
Speaker 2: There, have you got a money dilemma you just can't solve?
19:39
Speaker 2: The Sheese on the Money team is here to help.
19:41
Speaker 2: Every week we tackle your dilemmas, both big and small,
19:44
Speaker 2: to answer your most burning money, career and life questions.
19:47
Speaker 2: To get involved, simply head to our website and leave
19:50
Speaker 2: us a short voice recording and you might just find
19:52
Speaker 2: yourself on the show. Now, let's take a listen to
19:55
Speaker 2: this week's money dilemma.
19:58
Speaker 6: Hi, I hope you have a good diet. I had
20:00
Speaker 6: a question to the private hospital covers. We are a
20:04
Speaker 6: family of four and we have a private hospital cover,
20:07
Speaker 6: but we pay four hundred dollars a month, so with
20:12
Speaker 6: all the cost of living coming up, I decided that
20:15
Speaker 6: this is maybe a good way of saving four hundred
20:19
Speaker 6: dollars a month. But now I'm second guessing myself because
20:24
Speaker 6: a lot of my friends said not to cut on
20:27
Speaker 6: private hospital cover as it's so important to have to
20:31
Speaker 6: avoid this apparently long waiting this, but I'm not planning
20:35
Speaker 6: to go into hospital. I have no health issues. What's
20:38
Speaker 6: your advice?
20:39
Speaker 5: We love you firstly, thank you for your lovely words. Yes,
20:43
Speaker 5: this is something I have actually been thinking about recently
20:45
Speaker 5: because my private health is extremely expensively, painfully expensive. I'm
20:50
Speaker 5: paying two hundred plus dollars a month, which is crazy.
20:53
Speaker 5: So I have been having the exact same thoughts about community. Member.
20:56
Speaker 5: I have to say, and I'm sure a lot of
20:57
Speaker 5: people probably would be to share my two cents on
21:01
Speaker 5: the things that I've considered. Medicare Levy searcharge For those
21:04
Speaker 5: of you over the age of is it.
21:06
Speaker 2: Thirty one VD, The Medicare Levey surcharge is payable over
21:11
Speaker 2: certain thresholds. So the Medicare Levy Searcharge is payable if
21:15
Speaker 2: you earn more than ninety three thousand dollars a year
21:17
Speaker 2: as a single or one hundred and eighty six thousand
21:20
Speaker 2: dollars a year as a family, So if you're over that,
21:24
Speaker 2: you have to pay the Medicare levy surcharge, and in
21:27
Speaker 2: a lot of circumstances, don't get me wrong, four hundred
21:30
Speaker 2: dollars a month is a lot of money, especially in
21:32
Speaker 2: this economy, but you might end up paying basically the
21:37
Speaker 2: same as what your private health could cost.
21:41
Speaker 5: So we need to look into it. Yeah, that's the
21:43
Speaker 5: thing that I have been trying to figure out. Running
21:45
Speaker 5: the numbers. One, I would say, what I've been doing
21:47
Speaker 5: is just shopping around and looking at different places. Like
21:49
Speaker 5: you'll find that prices vary. You need to then look
21:52
Speaker 5: at what's included, what's covered, cause that also varies a lot.
21:56
Speaker 5: Fun to fund, is what I'm finding. But like in
21:59
Speaker 5: terms of the question or the statement that you made
22:01
Speaker 5: about not planning on getting sick, I would argue that
22:04
Speaker 5: not many of us do, and just like an anecdotal store.
22:08
Speaker 2: Many of us to no, No, I don't think anyone
22:11
Speaker 2: chooses to get sick. And it's one of those things
22:14
Speaker 2: is like it's insurance because we're insuring for a less
22:18
Speaker 2: likely outcome. Yeah, And I mean that's how insurance businesses
22:22
Speaker 2: make money. Right, Like Jess, Beck and I, we pay
22:25
Speaker 2: insurance into one big pool in the hope of never
22:27
Speaker 2: getting sick. But if something does happen, we know that
22:31
Speaker 2: Beck can rely on that. But hopefully, given the fact
22:34
Speaker 2: that you know Jess and I are relatively healthy, we
22:36
Speaker 2: don't have to rely on that pot of money, and
22:38
Speaker 2: then the profit from that pot of money goes to
22:40
Speaker 2: the health insurer, depending on whether they are members first
22:44
Speaker 2: or not. So I think it's important to understand the
22:47
Speaker 2: entire purpose of insurance from my perspective as an ex
22:51
Speaker 2: financial advisor, is to be a waste of money. I
22:54
Speaker 2: want insurance to be wasted. Don't get me wrong. Four
22:57
Speaker 2: hundred bucks a month is something you need to consider.
23:00
Speaker 2: But the reason you need to consider it is because
23:02
Speaker 2: the alternative, like we aren't betting that you're going to
23:05
Speaker 2: get sick. I never would want that. And that's why
23:07
Speaker 2: whenever we're talking about insurance, I talk about it in
23:11
Speaker 2: terms of yesterday, Like I'd never go, oh, Beck, imagine
23:14
Speaker 2: if you got sick tomorrow. I'd never do that because
23:16
Speaker 2: you never want to accidentally ill wish somebody. But I go, Beck,
23:20
Speaker 2: if I got sick yesterday, something might have happened and
23:23
Speaker 2: this would be the outcome. So I think it's important
23:25
Speaker 2: and just to your point, no one plans to get sick,
23:29
Speaker 2: But there are lots of things to take into consideration there.
23:34
Speaker 5: I have a story a friend of mine tore his
23:37
Speaker 5: ACL and he did not have private health insurance, and
23:41
Speaker 5: so he was just waiting. And when you know, when
23:43
Speaker 5: you've torn your ACL, you just go on the list
23:45
Speaker 5: and when you can get in, you get in. And
23:47
Speaker 5: he waited for I want to say, eighteen months, hadn't
23:50
Speaker 5: had a call, applied for private health, got the private health,
23:55
Speaker 5: waited out his six nine to twelve months waiting period
23:59
Speaker 5: however a long and qualified for his private health before
24:03
Speaker 5: the public system could even get him. I think it
24:06
Speaker 5: was like two years or something from point of injury
24:10
Speaker 5: to like him having that surgery, and that was done
24:13
Speaker 5: under private health.
24:14
Speaker 2: So and that's not always the case.
24:15
Speaker 5: And obviously the more severe, you know, if you have
24:18
Speaker 5: a really bad accident, of course you'd be rushed in
24:20
Speaker 5: through the public system. We do have a really great
24:22
Speaker 5: public system in place. But I feel like that's a
24:25
Speaker 5: good example that I have seen of where sometimes like
24:29
Speaker 5: it can be worth it. And I mean, you've totally
24:31
Speaker 5: got away at yourself, like we can't tell you here
24:34
Speaker 5: or there, but it is just worth considering, especially if
24:36
Speaker 5: you're saying you're a family afore I'm assuming you've got kids,
24:40
Speaker 5: and so that can also be tricky because if I
24:42
Speaker 5: think about when I was a kid, I was doing
24:43
Speaker 5: all kinds of crazy things, breaking bones, doing whatever.
24:46
Speaker 2: So you know, and I mean, there are a lot
24:48
Speaker 2: of benefits to private health insurance and I'm not trying
24:50
Speaker 2: to sell you on it because some people don't need
24:53
Speaker 2: it and they go V, I don't need it, and
24:55
Speaker 2: I like that. But what I want you to have
24:57
Speaker 2: is all the tools and the resources available to you
25:01
Speaker 2: to make the right decision for you and your family.
25:03
Speaker 2: So when we're talking about private health insurance, like if
25:06
Speaker 2: you have it, you can get treatment in public or
25:09
Speaker 2: private hospitals as a private patient with the doctor of
25:12
Speaker 2: your choice. And if you're just in public you do
25:15
Speaker 2: not get the choice of doctor. You often just get
25:18
Speaker 2: it allocated, and then you can get things covered like
25:21
Speaker 2: your health services that aren't covered under Medicare, so things
25:26
Speaker 2: like physiotherapy, dental, optical and I think it's important to
25:30
Speaker 2: consider that. But also another option is reviewing it four
25:34
Speaker 2: hundred dollars a lot a month. But can we drop
25:36
Speaker 2: our private health insurance if it's a value to you,
25:39
Speaker 2: back down to hospital only cover, or you know, dropping
25:42
Speaker 2: back and getting rid of those things. If you're like, look,
25:44
Speaker 2: we just don't need it. You know, we're very healthy.
25:47
Speaker 2: Perhaps you don't need to have optical and physiotherapy and
25:51
Speaker 2: dental covered, and pregnancy and stuff like that covered. Maybe
25:55
Speaker 2: you just drop it down to the very base level
25:57
Speaker 2: and go and do a bit of a review and go, well,
26:00
Speaker 2: maybe it is a value to me so that if
26:02
Speaker 2: something happens, we do have access. But maybe it's a
26:05
Speaker 2: cheaper access and that's still going to put you into
26:08
Speaker 2: that private hospital cover. I guess, bucket, whether you need
26:12
Speaker 2: it or not is completely up to you. We have
26:14
Speaker 2: lots of people in the shes on the money community
26:16
Speaker 2: who have made the decision to not have private health
26:18
Speaker 2: insurance because for whatever reason, that works for you, and
26:21
Speaker 2: I'm just glad that they've been able to weigh it
26:23
Speaker 2: up properly. But then obviously with the Medicare Levey surcharge,
26:27
Speaker 2: if you have a higher income then it kind of
26:31
Speaker 2: makes sense. And I know that a couple of people
26:33
Speaker 2: in our community have done the maths, and I'm not
26:36
Speaker 2: here to make recommendations on who's the best, because that's
26:40
Speaker 2: an answer that only you can answer because it's a
26:42
Speaker 2: personal decision, right. But we have people in our community
26:46
Speaker 2: who have done the maths and worked out what their
26:48
Speaker 2: Medicare levy surcharge would be, and they're basically paying exactly
26:51
Speaker 2: that on private health insurance. So instead of paying, let's,
26:54
Speaker 2: for example, say one hundred dollars a month into a
26:58
Speaker 2: Medicare levy surcharge, they're paying for private health insurance. And
27:02
Speaker 2: it would have been spent on one or the other.
27:05
Speaker 2: But they're like, well, we may as well get the
27:06
Speaker 2: private health bonuses. Sure, and do you know what, that's
27:09
Speaker 2: the government's intention with the Medicare levy surcharge. So the
27:13
Speaker 2: Medicare levy surcharge is charged to people who have higher
27:16
Speaker 2: incomes in the hopes that it gets them to get
27:19
Speaker 2: private health insurance, to take the load off the public system,
27:24
Speaker 2: so that the public system can be more accessible for
27:27
Speaker 2: those who can't afford private health, and for those who can,
27:30
Speaker 2: it seguys them away a bit.
27:31
Speaker 4: That's really clever.
27:32
Speaker 2: It doesn't mean you can't access it, it just means
27:35
Speaker 2: that they're like, oh, well, if we charge them, there's
27:37
Speaker 2: obviously a very big, you know, carrot on a stick
27:40
Speaker 2: over there for them to get private health insurance, and
27:42
Speaker 2: it can actually be alike for a like, but you
27:44
Speaker 2: would have to work out what that looks like.
27:47
Speaker 4: Okay, I don't really have anything to add here, but
27:49
Speaker 4: I just I do have health insurance, but it's like
27:52
Speaker 4: optical and dental and probably maybe ambulance, and I don't
27:55
Speaker 4: know if that counts, but we'll see you one day
27:57
Speaker 4: when I eventually make over ninety three thousand.
28:00
Speaker 2: You do have to be careful. I know you've mentioned
28:01
Speaker 2: ambulance because some people do have it included in their
28:04
Speaker 2: private health but in a lot of states and territories
28:07
Speaker 2: it's separate. So we need to just be careful of
28:11
Speaker 2: not assuming that because you have private health insurance it
28:14
Speaker 2: includes ambulance cover because for a lot of people that's
28:17
Speaker 2: not the case, and those are two separate types of insurance, right, Okay.
28:21
Speaker 5: If you feel like dipping into the archive, we've done
28:22
Speaker 5: a couple of episodes on health insurance.
28:24
Speaker 2: I'm too passionate about it.
28:25
Speaker 5: Yeah, that we'll link in the show notes. So there's
28:27
Speaker 5: two specifically one from twenty twenty one. From twenty twenty one,
28:30
Speaker 5: it might be worth if you just want a bit
28:32
Speaker 5: more information on what to consider, go back and have
28:34
Speaker 5: listened to those because it might be helpful.
28:36
Speaker 2: Yeah, and I guess the TLDR of all of this
28:39
Speaker 2: is be educated. It doesn't mean that private health is
28:42
Speaker 2: the best answer for everybody. But what I do want
28:45
Speaker 2: is for you to be able to sit down and
28:47
Speaker 2: consider it, work it out, and if you go, well,
28:49
Speaker 2: the four hundred dollars a month isn't worth it to me,
28:52
Speaker 2: I'm glad you had the tools and resources to make
28:54
Speaker 2: that decision. It's here or there, like, it's none of
28:58
Speaker 2: my business.
29:00
Speaker 5: Good, Like, wait, it's a simple one I think to
29:02
Speaker 5: figure out, like mathematically, hey, like way up, Yeah, the
29:05
Speaker 5: value of what you're getting versus what you're spending. Yeah,
29:07
Speaker 5: it's a nice direct one.
29:08
Speaker 2: Yeah, one hundred percent. That would actually be for any
29:10
Speaker 2: private health insurance companies listening today. That'd be a really
29:14
Speaker 2: great marketing strategy putting out a little table that says,
29:17
Speaker 2: if you earn ninety six thousand dollars, here's what private
29:20
Speaker 2: health would cost you, and like, do the cost benefit analysis. Yes,
29:23
Speaker 2: I'm a logical girlie. I just honestly, I like being
29:26
Speaker 2: spoon and fed information. And if you told me V,
29:28
Speaker 2: you're going to have to pay X in the Medicare
29:31
Speaker 2: levy surcharge. But if you just went to this company
29:33
Speaker 2: and got insurance, I'd be like, oh, thanks for doing
29:35
Speaker 2: the work for me. Now you can have that idea
29:37
Speaker 2: for free. You're welcome, You're welcomed. Call me for pr
29:42
Speaker 2: in the juicy My gosh, I'm so excited for this one.
29:45
Speaker 2: The topic came through and I was like, I feel
29:47
Speaker 2: like this is really really juicy. So this week we
29:49
Speaker 2: got a DM. Are you ready for it?
29:51
Speaker 4: Yes?
29:51
Speaker 2: High she'es on the money. I need advice. A year ago,
29:55
Speaker 2: my sibling was going through a tough time and doing
29:58
Speaker 2: some pretty reckless things. Thought I would try and help,
30:01
Speaker 2: including financially. At the time, she promised to repay me. However,
30:06
Speaker 2: after having to remind her to stop being rude to
30:09
Speaker 2: me in my own home, she up and left. For
30:13
Speaker 2: four months, I have had to chase her every fortnight
30:16
Speaker 2: for the bare minimum of fifty dollars some weeks less.
30:20
Speaker 2: Fast forward eight months and she hasn't paid me anything
30:23
Speaker 2: since December. She's blocked me on all platforms and is
30:26
Speaker 2: ghosting our entire family. I have a record of all
30:30
Speaker 2: funds lent and all payments made by her. What would
30:33
Speaker 2: you do if a family member had done this and
30:36
Speaker 2: stopped paying you back over fifteen thousand dollars in money
30:40
Speaker 2: you lent them for your future? WHOA, that is so
30:44
Speaker 2: much money? That is so much mo.
30:46
Speaker 4: Yeah, it's too much to be like, oh, world's a loss,
30:49
Speaker 4: but you're gonna you know, this is a lot of money.
30:51
Speaker 4: I don't know if this is the thing here. This
30:53
Speaker 4: sounds very American what IM about to say? But soon
30:56
Speaker 4: their claims court? Is that a thing?
30:58
Speaker 2: I feel like that's a TV show.
31:00
Speaker 4: Yeah, it does.
31:02
Speaker 2: It definitely is a thing here. It's probably not as
31:04
Speaker 2: dramatic though, yeah.
31:05
Speaker 4: And I mean, like obviously it's we're not going on
31:07
Speaker 4: you know, no totally. It's still weird though, to like
31:11
Speaker 4: do that to your sibling or just like a friend
31:13
Speaker 4: or someone. It's kind of extreme. It feels like you're
31:16
Speaker 4: being like dramatic. But in this case, I wouldn't think
31:18
Speaker 4: that's that you're being I don't think.
31:20
Speaker 2: You're being dramatic. That's fifteen thousands.
31:22
Speaker 4: Would I would maybe literally do that I guess it's
31:26
Speaker 4: a really tricky one, especially if you're blocked on everything.
31:29
Speaker 4: You know, you see those like memes of like you know,
31:32
Speaker 4: if like people are fighting and they're blocked on everything,
31:35
Speaker 4: and so you send like one cent deposit to their breakout.
31:39
Speaker 2: Oh my god, don't do that. That just feels so
31:42
Speaker 2: financially abusive.
31:43
Speaker 4: True, just where then you just be sending them more money.
31:45
Speaker 4: So you don't do that.
31:46
Speaker 2: But if there is a way to get in touch,
31:49
Speaker 2: there absolutely would be. Yes, you're blocked, but that doesn't
31:51
Speaker 2: mean that you couldn't contact them or send them a
31:55
Speaker 2: letter or you know, write a letter of demand or
31:58
Speaker 2: something like that, letting them know that you're willing to
32:00
Speaker 2: take this further totally.
32:02
Speaker 4: And I guess, like if you got to weigh up, like,
32:04
Speaker 4: is there still I suppose like some coming back from
32:09
Speaker 4: this in regards to your relationship with each other. If
32:12
Speaker 4: there's not screw it go football small claims court. I
32:18
Speaker 4: hope I'm saying that.
32:19
Speaker 2: She's right, Well, judge as I.
32:21
Speaker 4: Get to do whatever you've got to do get that
32:24
Speaker 4: money back, but do not rest, because I know that
32:26
Speaker 4: sometimes we do say like do not rest, you're going
32:30
Speaker 4: to get that money back if you've got to try,
32:32
Speaker 4: like be like a bit more emotional and be like, hey,
32:34
Speaker 4: I'm really struggling. I really like try and.
32:36
Speaker 2: Like oh, we're getting desperado on it.
32:38
Speaker 4: And then if that doesn't work, and then you go football. Yeah,
32:41
Speaker 4: I don't know if that's helpful.
32:43
Speaker 2: I love that that's an option. Jess, what would you do?
32:48
Speaker 2: I completely agree.
32:49
Speaker 5: I think you have to assess, like, do you think
32:51
Speaker 5: you can or do you have a desire to salvage
32:54
Speaker 5: the relationship, because I think you're at the point where
32:58
Speaker 5: if you want to continue to pursue it, it's going
33:00
Speaker 5: to be a bit more of an aggressive approach, and
33:02
Speaker 5: chances are if that's what you opt for, you may
33:06
Speaker 5: damage that relationship beyond repair. And I know that that's
33:09
Speaker 5: a really tough and unfair choice for you to have
33:11
Speaker 5: to make, but I think it's a consideration that you
33:14
Speaker 5: have to take, is that if you do want to
33:16
Speaker 5: pursue it, you know you might lose contact. But it
33:19
Speaker 5: sounds like you have kind of lost contact anyway, so
33:21
Speaker 5: maybe that's you know, neither here nor there to you.
33:24
Speaker 5: I would probably go with debt collection before small claims
33:27
Speaker 5: or I don't know if that's good advice or not,
33:29
Speaker 5: just because I think that, like, if you can avoid
33:31
Speaker 5: clogging the court system, like let's do that, that might
33:34
Speaker 5: not be the right call. Though I'm not an expert,
33:36
Speaker 5: but I think debt collection agencies often work on like
33:40
Speaker 5: they take a percentage of what they collect, so you
33:42
Speaker 5: may be able to do that without having to invest
33:45
Speaker 5: any money into it, whereas if you go through small
33:48
Speaker 5: claims court you may need legal counsel, which can be
33:51
Speaker 5: very expensive. So I would look into your options there
33:54
Speaker 5: around what the costs associated might be. Debt collection agencies,
33:58
Speaker 5: from what I understand, are very good at what they do,
34:00
Speaker 5: and we'll find someone and get in touch, and we'll
34:02
Speaker 5: follow them up and follow them up and follow them up,
34:05
Speaker 5: and then if that didn't work, that's when I would
34:06
Speaker 5: probably escalate it to small claims court, although I'll be honest,
34:12
Speaker 5: I don't know what the rules are around whether or
34:15
Speaker 5: not you can claim something like that back just because
34:18
Speaker 5: the money is lent in good faith, And I know
34:20
Speaker 5: that this is very unhelpful because you know what's done
34:23
Speaker 5: is done. But we have said before, unfortunately, you take
34:26
Speaker 5: on a risk when you lend money to someone, and
34:28
Speaker 5: even if it's family, even if it's your best friend
34:30
Speaker 5: in the whole world, there is a risk that that
34:32
Speaker 5: may not come back. And so I know that that's
34:35
Speaker 5: not helpful to our listener right now, and I'm sorry.
34:36
Speaker 5: I'm not saying that to kick you while you're down,
34:38
Speaker 5: but just a word of advice. I guess for anybody
34:41
Speaker 5: who might be looking to lend money to people, you
34:44
Speaker 5: can't guarantee that it will come back. And I don't
34:46
Speaker 5: know that there is a legal system in place to
34:49
Speaker 5: support that pursual either. I'm just honestly not sure there
34:52
Speaker 5: definitely is. So if you go to the National Debt
34:54
Speaker 5: help Line, we talk about these guys all the time.
34:57
Speaker 5: So it's NDH dot org dot AU. There's a whole section.
35:01
Speaker 2: On borrowing money from friends and family, but it can
35:04
Speaker 2: get a bit sticky, and they do talk about, you know,
35:06
Speaker 2: the expectations and changing goalposts and like what it looks
35:10
Speaker 2: like to have that relationship change. But also they really
35:14
Speaker 2: go into the legal standing because it's obviously easy to
35:17
Speaker 2: assume that just because there's no written contract, borrowing money
35:20
Speaker 2: from a friend or a family member means that it's safer,
35:23
Speaker 2: but that's not actually the case. You could end up
35:26
Speaker 2: suit so they really go through that, and so there
35:29
Speaker 2: is a pathway, and even if it's not been well
35:32
Speaker 2: documented at the start. Sometimes and I speak historically from
35:38
Speaker 2: having clients go through similar things. Sometimes even the communications
35:43
Speaker 2: that you've had, like if I text you, Jess and said, oh,
35:46
Speaker 2: but you still owe me fifteen grand and then you
35:48
Speaker 2: agree and that text message, there's like some level of
35:51
Speaker 2: written communication. Now I'm not a lawyer, obviously I can't
35:56
Speaker 2: give you advice on this, but you are right, Beck
35:58
Speaker 2: and Jess. Maybe not as dramatic as Maury or Judge Judy,
36:03
Speaker 2: but you can take them to small claims Care, you
36:06
Speaker 2: can sue them, You can take that further. I obviously
36:09
Speaker 2: would be trying to sort it out before then, just
36:13
Speaker 2: because I'm the type of person that wants to exhaust
36:15
Speaker 2: all my options first, so that you know, like if
36:18
Speaker 2: Jess owed me money, she could say, but the I
36:22
Speaker 2: asked you, I emailed you, I called you, I did
36:24
Speaker 2: as much as I could. This was my last resort.
36:26
Speaker 2: I didn't want to have to do this, but I
36:28
Speaker 2: did because obviously we want to give everybody the benefit
36:31
Speaker 2: of the doubt. But I think that yes, you definitely
36:35
Speaker 2: can take it further and it's a really terrible situation
36:38
Speaker 2: to be in sway. I'm sorry you're going through, because
36:40
Speaker 2: it wouldn't just be financially hard, it would be emotionally hard.
36:43
Speaker 2: Like your sibling is doing that to you. That's just trash.
36:47
Speaker 4: I do just want to quickly say as well, for
36:49
Speaker 4: the other side of the coin, I have been there
36:51
Speaker 4: where I'm being chased by deck collectors and even just
36:54
Speaker 4: like family members or friends who have let me money.
36:56
Speaker 4: I usually I'm really on top of these things. But
36:58
Speaker 4: being on that side and you so much money and
37:00
Speaker 4: you feel like you're drowning and you're extremely anxious. Every
37:04
Speaker 4: waking second is anxiety. And I get that part as well.
37:08
Speaker 4: So if you haven't exhausted all of your emotional energy
37:11
Speaker 4: and you do feel like there's hope for you to
37:13
Speaker 4: reach out and be like, I understand what you're feeling,
37:16
Speaker 4: and let's just try and make this as easy as possible.
37:19
Speaker 4: What about ten bucks a month. I know that's probably
37:21
Speaker 4: you know, it's not ideal, or it will take a
37:22
Speaker 4: lot longer, but maybe it's just all this built up
37:26
Speaker 4: anxiety that is making them run away, which is not
37:29
Speaker 4: it's not good, but it's nice.
37:31
Speaker 2: To understand that. I think empathy in a situation like
37:34
Speaker 2: this is very valuable. Yes, like being able to go actually,
37:38
Speaker 2: how do I approach this, like and saying Hey, beck,
37:40
Speaker 2: I know this is really trash y. Can we work
37:43
Speaker 2: this out? Or even if you're the person that owes money,
37:46
Speaker 2: just know we know it's stressful, we know it's hard,
37:48
Speaker 2: and I think it says a lot about your character
37:50
Speaker 2: to turn around and be like, hey, Jess, I'm really
37:52
Speaker 2: sorry I haven't been talking to you. This has been
37:54
Speaker 2: overwhelming me and making me really anxious. Like, I think
37:56
Speaker 2: you can have a really constructive conversation and try and
37:59
Speaker 2: come back from that, but it is going to take
38:01
Speaker 2: work from your side as well.
38:03
Speaker 5: Yeah, blocking them when everything isn't the right solution, I
38:06
Speaker 5: think because you're right, like, there is absolutely room to
38:10
Speaker 5: understand the position that they're in and maybe helping them
38:13
Speaker 5: out with resources, setting them in the National Debt Hotline
38:15
Speaker 5: informations they can reach out if that's something that they need.
38:18
Speaker 2: But yeah, I think it's all in how it's handled.
38:20
Speaker 2: I agree. We did ask the community what they thought.
38:23
Speaker 2: We said, would you ever lend money to a family member?
38:26
Speaker 2: And unsurprisingly, seventy one percent of you said yes, of
38:29
Speaker 2: course if they needed help. Twenty nine percent of you
38:32
Speaker 2: said Nope, wouldn't risk things getting messy. I know, like,
38:37
Speaker 2: I get that it's hard.
38:39
Speaker 5: I just you want to help someone when you can't.
38:41
Speaker 5: I get that that you're in that instinct to want
38:43
Speaker 5: to support the people you love yours.
38:45
Speaker 2: We also then asked, this situation is really tough. What
38:49
Speaker 2: advice or next steps would you give our community member?
38:52
Speaker 2: And you guys had an abundance, I mean, someone was
38:55
Speaker 2: definitely on your side. They said, go to judge Judy.
39:01
Speaker 2: We had a number of really good responses. I feel
39:03
Speaker 2: like a lot of these responses, though, are more for
39:07
Speaker 2: what our community member could have potentially done differently, not
39:10
Speaker 2: what they can do now. So we'll get through the
39:12
Speaker 2: could have done differently. So someone said, I wouldn't ever
39:15
Speaker 2: lend over one thousand dollars to a family member. If
39:18
Speaker 2: they're stuck, they need to seek different help. Someone said,
39:22
Speaker 2: I've been in a similar situation, but I chose the
39:25
Speaker 2: relationship over the money and let it go, which is
39:28
Speaker 2: really hard because fifteen thousand dollars is life changing for
39:31
Speaker 2: some people. Yeah, like, it's not an amount that a
39:34
Speaker 2: lot of people could just let go and be like, oh,
39:36
Speaker 2: don't worry about it, like that's too much. Someone said,
39:40
Speaker 2: you shouldn't have lent money to someone in the first place.
39:42
Speaker 2: You could have offered help in a lot of different ways,
39:45
Speaker 2: which is kind of like, yeah, she didn't load, did she. Yeah.
39:50
Speaker 2: So then a lot of people said, potentially you could
39:53
Speaker 2: make peace with it and know that you just helped
39:55
Speaker 2: a family member during a trying time. Someone else said,
39:59
Speaker 2: if there's hope of the relationship improving or moving forward,
40:02
Speaker 2: then I wouldn't start legal action. But if there's no hope,
40:07
Speaker 2: I definitely would go down the legal route. Someone said,
40:10
Speaker 2: cut your losses and move on. I feel like that
40:13
Speaker 2: is not helpful. Like, don't get me wrong, I love
40:16
Speaker 2: all of your dms, but I feel like saying cut
40:20
Speaker 2: your losses like they've taken the time to write into
40:23
Speaker 2: us and say this is a really big issue for me,
40:25
Speaker 2: and to say cut your losses to me is quite
40:28
Speaker 2: dismissive of what they're experiencing. They're not looking for you
40:31
Speaker 2: to go give it up, don't worry about it. I
40:33
Speaker 2: don't know. I don't know. I just feel like sometimes
40:36
Speaker 2: that's not helpful. Someone else said, get some legal advice
40:40
Speaker 2: and I think that's a good one because as much
40:43
Speaker 2: as you know Jess and bear can, I like, Yep,
40:45
Speaker 2: you could definitely take it further. Why not talk to
40:47
Speaker 2: someone about taking that further a free like you can
40:51
Speaker 2: call legal age. So I would work out what you
40:54
Speaker 2: can do and your options and put them all on
40:56
Speaker 2: the table, because it could even help you have that
40:58
Speaker 2: conversation with that family member, because I know that I
41:02
Speaker 2: would feel a little bit more stable in the conversation.
41:05
Speaker 2: But I feel like the other person would take it
41:07
Speaker 2: more seriously. If I was like, look, Jess, I've got
41:10
Speaker 2: advice and here are the outcomes, I feel like maybe
41:13
Speaker 2: they'd be more likely to take it very seriously and
41:16
Speaker 2: commit to a payment plan with you instead of having
41:18
Speaker 2: to go down that legal route. Someone said, as much
41:22
Speaker 2: as it hurts, potentially it's a learning experience, but never
41:25
Speaker 2: lend the money again. And then someone else said, your
41:28
Speaker 2: piece is more valuable than money. You were lucky to
41:31
Speaker 2: have been able to help. So I feel like a
41:34
Speaker 2: lot of the advice was very, very similar. But we
41:37
Speaker 2: then asked, hey, guys, have you guys had this experience
41:41
Speaker 2: to yourself? Someone said, yeah, my dad did it to me.
41:44
Speaker 5: Oh my.
41:47
Speaker 2: Someone said no, because I'm a savage and I never
41:49
Speaker 2: lend anyone money. Like, okay, savage queen. Someone said I
41:53
Speaker 2: lent money to a girlfriend and it changed our friendship
41:56
Speaker 2: for the worse. Someone said, my parents lent me money
42:00
Speaker 2: and they made me sign a formal contract before they
42:02
Speaker 2: gave me the cash. Honestly, smart genius parents. Someone said
42:08
Speaker 2: I come from a Polynesian background, and culturally we give
42:12
Speaker 2: money and would never expect anything back. And I think
42:14
Speaker 2: that's a really like, that's really wholesome.
42:16
Speaker 6: Yeah.
42:17
Speaker 2: Also, culturally, these things happen in different ways, Like you
42:21
Speaker 2: might be coming from a completely different background and you're
42:25
Speaker 2: listening to this going, I know you gave your sibling money,
42:27
Speaker 2: why are you chasing them for it? Yeah, so interesting
42:31
Speaker 2: and kind of cool. Someone said my best advice is
42:33
Speaker 2: never lend what you can't afford to lose. Yeah, which
42:37
Speaker 2: is good advice as well. Someone said, yes, it took
42:40
Speaker 2: years though, and we don't have a relationship anymore. Someone said, yes,
42:45
Speaker 2: I was deceived give my dad twenty seven thousand dollars,
42:49
Speaker 2: which he then gambled away breaking.
42:54
Speaker 5: I guess something that we probably could just mention is
42:57
Speaker 5: that they'm not paying. You could be a result of
43:00
Speaker 5: them physically not having the cash for one reason or another.
43:03
Speaker 5: And you know what that money went to if it
43:05
Speaker 5: could be something like gambling or substance abuse or one
43:08
Speaker 5: of those other tough things like it may be that
43:11
Speaker 5: they've fallen down a hole and they physically don't have
43:13
Speaker 5: the money to give you anymore, which is where I
43:16
Speaker 5: think again that approach of kindness could really be helpful.
43:19
Speaker 2: And maybe I think kindness always. I think it says
43:21
Speaker 2: more about you than the situation at hand. And I
43:25
Speaker 2: also think it gives the other person an opportunity to
43:28
Speaker 2: kind of redeem that relationship and that situation. And I just, yeah,
43:32
Speaker 2: I feel like kindness always. We did have a couple
43:35
Speaker 2: of positive ones. Someone said, hey, V mine was positive.
43:38
Speaker 2: I let my brother twelve grand. We made a spreadsheet
43:40
Speaker 2: with dates for payments, and he paid the whole thing
43:42
Speaker 2: back in full, much to my surprise. I love that
43:46
Speaker 2: someone else said I was able to help my mum
43:49
Speaker 2: get out of a domestic violence relationship and she's just
43:51
Speaker 2: finished paying me BACKZ. Isn't that cool? Like really good?
43:55
Speaker 2: I wanted to leave those ones for last because I
43:57
Speaker 2: feel like lending money. I know that we asked you,
43:59
Speaker 2: has this happened, and you might have gone down a
44:01
Speaker 2: rabbit hole of only sharing negative stories. But I've learned
44:04
Speaker 2: money to friends and family before, and I've had it
44:07
Speaker 2: paid back in full, no questions asked, So I'm not
44:10
Speaker 2: saying that this always happens. I don't want people to
44:13
Speaker 2: get that vibe. And I mean, Beck, You've said on
44:14
Speaker 2: the podcast a number of times that you've learnt money
44:16
Speaker 2: from people, and I know you've always paid it back,
44:18
Speaker 2: So I feel like this is something that can happen
44:22
Speaker 2: but doesn't always happen. So I don't want it to
44:24
Speaker 2: terrify you. If you're like, oh, but I always help
44:26
Speaker 2: my friends, Like that's it's not a warning. It's more
44:29
Speaker 2: this is an awful situation. You've been ghosted by a
44:32
Speaker 2: family member who owed you fifteen thousand dollars and you
44:36
Speaker 2: do definitely have options. Yeah, it's just a terrible thing
44:39
Speaker 2: to go through, and I'm really sorry you had to Yeah,
44:41
Speaker 2: perfect spot to leave it, I guess. So well, it's
44:44
Speaker 2: been a good episode. Thanks for hanging out with me
44:46
Speaker 2: once again, my friends. Until next week. I hope you
44:49
Speaker 2: have a good weekend and we'll see brighton early on
44:51
Speaker 2: Monday for a money diary.
44:52
Speaker 4: Bye guys Bye.
45:00
Speaker 2: The advice shared on She's on the Money is general
45:02
Speaker 2: in nature and does not consider your individual circumstances. She's
45:06
Speaker 2: on the Money exists purely for educational purposes and should
45:09
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