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MONEY DIARIES: Identity theft and fraud · She's On The Money

• 0:00
  Speaker 1: She's on the Money.
• 0:02
  Speaker 2: She's on the Money.
• 0:23
  Speaker 3: Hello, and welcome to She's on the Money, the podcast
• 0:26
  Speaker 3: for millennials who want financial freedom. Welcome to a shop
• 0:30
  Speaker 3: back money Diary Monday. We love these. We have a
• 0:33
  Speaker 3: chat with one of our diarists and Victoria, I feel
• 0:36
  Speaker 3: like this is one of your favorite episodes to record.
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  Speaker 4: It is always my favorite episode to record. One I
• 0:40
  Speaker 4: get to hang out with people from our community. Do
• 0:43
  Speaker 4: I get to learn about money diaries? And three? Like?
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  Speaker 4: Is it not the best? Getting to know the pervy
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  Speaker 4: details of people's lives and being like, Hey, what do
• 0:50
  Speaker 4: you earn?
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  Speaker 1: What do you spent?
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  Speaker 4: How old is your partner? What do they do? How
• 0:53
  Speaker 4: does this it's the best? It's honestly my favorite.
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  Speaker 3: Well, I think you're really going to like this week's
• 0:58
  Speaker 3: one because it's a super interesting topic. She went through
• 1:02
  Speaker 3: a really tough situation a few years ago and she
• 1:05
  Speaker 3: had her identity stolen.
• 1:07
  Speaker 1: Oh all right.
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  Speaker 4: Well, Jess, can you read out this week's money diarist
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  Speaker 4: email for me and we'll jump right in.
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  Speaker 3: I sure can, she said. After a scary brush with
• 1:16
  Speaker 3: identity theft and fraud, I found She's on the Money.
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  Speaker 3: In twenty twenty one, and I'm working towards creating a
• 1:22
  Speaker 3: solid emergency fund and growing my small investment portfolio while
• 1:26
  Speaker 3: starting a career in the ever uncertain health industry.
• 1:30
  Speaker 4: How terrifying? Identity theft is literally my biggest nightmare. As always,
• 1:35
  Speaker 4: we have our Money Diarist on the line. Hello Money Darist,
• 1:39
  Speaker 4: and thank you for joining us.
• 1:41
  Speaker 1: Thanks for having me.
• 1:42
  Speaker 4: Oh my gosh, I'm literally so excited about this identity theft?
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  Speaker 4: Is that not terrifying? Were you terrified?
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  Speaker 1: That was pretty pretty rough? Actually, the first couple of
• 1:52
  Speaker 1: days after I'd found out was a bit of a whirlwind,
• 1:55
  Speaker 1: But no, it was yeah, oh true.
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  Speaker 4: I've will to ask you about it now, even though
• 1:59
  Speaker 4: I really really want you through because as always, you
• 2:01
  Speaker 4: know that we have to get through our structured questions
• 2:04
  Speaker 4: and then we could have a really good chat at
• 2:05
  Speaker 4: the end. So to dive head first straight in Money Diarist,
• 2:09
  Speaker 4: what is your attitude towards money?
• 2:12
  Speaker 1: I have had a pretty good attitude towards money, I
• 2:14
  Speaker 1: would say, apart from obviously the scary side of it,
• 2:17
  Speaker 1: which we'll get into later. But growing up, Mum and
• 2:20
  Speaker 1: Dad were really savvy. We never went without anything. It
• 2:24
  Speaker 1: was always, you know, if we wanted to do an
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  Speaker 1: extracurricular activity that was fine, holidays on the school holidays,
• 2:33
  Speaker 1: all that kind of thing. I even remember sitting in
• 2:36
  Speaker 1: their financial advisor's office when I was really young and just,
• 2:40
  Speaker 1: oh my god. Yes, we used to go and see them.
• 2:42
  Speaker 1: So they've had quite a big experience with investing and
• 2:46
  Speaker 1: they taught me a bit about that when I was older,
• 2:49
  Speaker 1: which was really good. So yeah, I guess growing up
• 2:52
  Speaker 1: it was quite a comfortable experience with money. And then
• 2:57
  Speaker 1: I moved out of home at the age of eighteen,
• 2:59
  Speaker 1: and then that was a whole other ballpark. There's a
• 3:04
  Speaker 1: whole learning how to budget and learning you know, where
• 3:07
  Speaker 1: my money had to go and know, while still being
• 3:10
  Speaker 1: able to enjoy life. So yeah, we're getting there. We're
• 3:12
  Speaker 1: getting there, definitely.
• 3:13
  Speaker 4: I feel like that is such a shock when you
• 3:16
  Speaker 4: move out and I was exactly the same, Like we
• 3:18
  Speaker 4: didn't grow up like super wealthy or anything like that,
• 3:22
  Speaker 4: but you just don't realize how expensive it is to
• 3:24
  Speaker 4: live on your own. Like paper towel, what do you
• 3:27
  Speaker 4: mean you have to pay for paper towel, dishwashing liquid,
• 3:30
  Speaker 4: dish washing tablets. Those things are so expensive.
• 3:34
  Speaker 1: And especially if you want like the eco friendly ones.
• 3:37
  Speaker 4: Yeah, you're trying to do the right thing. But you're like,
• 3:41
  Speaker 4: life is expensive. What do you mean I have to
• 3:43
  Speaker 4: spend my money on that instead of the things I love? No,
• 3:46
  Speaker 4: I know what on earth? Anyway? Next question, money diarist,
• 3:50
  Speaker 4: Just what do you do for work and how much
• 3:52
  Speaker 4: money do you earn?
• 3:53
  Speaker 1: So I'm currently working as a registered nurse in an
• 3:56
  Speaker 1: emergency department.
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  Speaker 4: Oh, I love that. You must be a very special
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  Speaker 4: human fancy.
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  Speaker 1: Yes, so I started that job in February of this year.
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  Speaker 1: So I'm class as a graduate.
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  Speaker 4: Nurse and grats, thank you.
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  Speaker 1: My base salary on the hours that I am contracted
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  Speaker 1: to work is about fifty five thousand a year, but
• 4:20
  Speaker 1: with overtime and penalties and all of that, I'm tracking
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  Speaker 1: for about seventy five thousand.
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  Speaker 4: Oh my gosh, my first.
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  Speaker 3: You must have done a lot of overtime this year.
• 4:29
  Speaker 3: I feel like, how are you holding ours?
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  Speaker 1: It's intense. I'm actually in Queensland, so we have been
• 4:38
  Speaker 1: very fortunate. Our friends down south have had it a
• 4:41
  Speaker 1: bit rough in comparison to us. I have a lot
• 4:48
  Speaker 1: of friends who are now working in New South Wales,
• 4:50
  Speaker 1: so some of the stories are a bit harrowing, but yeah, no,
• 4:55
  Speaker 1: it's been. It's been from basically from week one. We
• 4:58
  Speaker 1: were always asked, I want to do over time. I
• 5:01
  Speaker 1: want to do it, and you're like, yes, please give
• 5:04
  Speaker 1: me the money here like how I feel after sixteen
• 5:07
  Speaker 1: hours in this place, But but.
• 5:09
  Speaker 4: I do like the pay. But you do have to
• 5:12
  Speaker 4: make sure you balance that well, right, Like I have
• 5:14
  Speaker 4: a fair few clients who are nurses and our doctors
• 5:16
  Speaker 4: and do overtime. And in the first few years of
• 5:19
  Speaker 4: your career, I feel like you take on lots of
• 5:21
  Speaker 4: overtime because the money's so good and it's so exciting,
• 5:24
  Speaker 4: but you have to be really careful of burnout and
• 5:27
  Speaker 4: taking on too much. So I think you need to
• 5:29
  Speaker 4: really remember that there's a balance and how is your
• 5:32
  Speaker 4: mental health going, and how's your work life balance going.
• 5:34
  Speaker 4: Because you, nurses and doctors in any type of healthcare
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  Speaker 4: professionals are so special. We can't have you burning out.
• 5:41
  Speaker 4: We need you look after yourselves please.
• 5:44
  Speaker 1: That was a really interesting, interesting conversation. Actually, I didn't
• 5:48
  Speaker 1: think the word burnout would come up so quickly in
• 5:51
  Speaker 1: my career. But yeah, no, after I took some I
• 5:54
  Speaker 1: took some leave in October, so about six months after
• 5:57
  Speaker 1: I started, and yeah, that was like very well needed actually,
• 6:01
  Speaker 1: so so yeah, no, it's really good. They do consider
• 6:06
  Speaker 1: our work life balance, our mental health, and yeah, I'm
• 6:10
  Speaker 1: glad to hear you're.
• 6:11
  Speaker 4: Looking after yourself. Next question, my friend, is what is
• 6:15
  Speaker 4: your big money goal.
• 6:17
  Speaker 1: So at the moment, it's working towards rebuilding my emergency fund.
• 6:22
  Speaker 1: There's been we had a couple of fur baby emergencies
• 6:27
  Speaker 1: and worst emergency unfortunately, so I was really lucky I
• 6:32
  Speaker 1: had my emergency fund there, so we were able to
• 6:35
  Speaker 1: make some decisions that I probably wouldn't have made a
• 6:38
  Speaker 1: couple of years ago if we had, you know, not
• 6:41
  Speaker 1: that buffer sitting in my accounts. So I'm looking at
• 6:44
  Speaker 1: building that one up now and then we yeah, that's
• 6:49
  Speaker 1: about it for the moment. We've got lots of other
• 6:50
  Speaker 1: things we want to do, but I'm a little bit
• 6:52
  Speaker 1: on edge without that buffer, So I liked I'd like
• 6:56
  Speaker 1: to try and get that one up before I try
• 6:57
  Speaker 1: and think about any of the bigger ones at the moment.
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  Speaker 4: So yeah, I feel like once you've had an emergency fund,
• 7:04
  Speaker 4: or once you have an emergency fund, the level of
• 7:07
  Speaker 4: security that you get from that you go hold up
• 7:10
  Speaker 4: Like I don't want to not ever have this, Like
• 7:13
  Speaker 4: this is such a security blanket for me now. It
• 7:16
  Speaker 4: is something that makes me feel so calm and so
• 7:19
  Speaker 4: at ease that when it dwindles down for good reason,
• 7:22
  Speaker 4: like a fur baby emergency is a very important emergency.
• 7:25
  Speaker 4: But you go, oh, like, I've really got to build
• 7:28
  Speaker 4: that back up. I totally get it. Money direst before
• 7:31
  Speaker 4: you said something, you said, we who is?
• 7:35
  Speaker 1: I live with my partner. So my partner and I
• 7:38
  Speaker 1: we've been together for nearly four years now, so we've
• 7:43
  Speaker 1: lived together for most of that, which has been its
• 7:46
  Speaker 1: own challenges. But yeah, we have a mortgage as well,
• 7:51
  Speaker 1: So that was something that I was very fortunate when
• 7:54
  Speaker 1: when I met him, he was in the position to
• 7:57
  Speaker 1: pretty much be able to buy. And then very shortly after,
• 8:01
  Speaker 1: because we happen to have two incomes, we just decided
• 8:05
  Speaker 1: to do it and move in together. So we moved
• 8:07
  Speaker 1: in together not six months after we met.
• 8:10
  Speaker 4: Wow, oh my gosh, when you know you know money diary, we're.
• 8:14
  Speaker 1: A little nineteen year old. That was probably not the
• 8:16
  Speaker 1: smartest idea, but we're very happy that it's worked out well.
• 8:20
  Speaker 1: So yeah, we that's our situation to us and our
• 8:24
  Speaker 1: two little fur babies at the moment.
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  Speaker 4: My gosh, So how old are you and your partner now?
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  Speaker 1: So I'm twenty two and he is twenty four.
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  Speaker 4: Oh my gosh, twenty two, twenty four mortgage two fur
• 8:38
  Speaker 4: babies who are set? What that's actually so impressive at
• 8:43
  Speaker 4: your age.
• 8:44
  Speaker 1: Like a grandma sometimes. But it's okay, it's it's yeah,
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  Speaker 1: we're very happy.
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  Speaker 4: So no, I love that. And what are the fur babies.
• 8:52
  Speaker 4: I'm like, totally off track of the money diary, but
• 8:54
  Speaker 4: I'm like, what are you paying?
• 8:55
  Speaker 1: We got two dogs. They're both sitting out in the
• 8:57
  Speaker 1: air con at the moment in the living room because
• 9:00
  Speaker 1: Queensland it's like twenty eight degrees or something at nine am.
• 9:03
  Speaker 3: So I know everyone at home will ask as well,
• 9:06
  Speaker 3: are they okay after the emergency? Are they doing all good?
• 9:10
  Speaker 1: So unfortunately we lost one of our boys earlier this year. Yeah,
• 9:15
  Speaker 1: so we have a new This is Pumpkin. Pupkin.
• 9:19
  Speaker 4: Oh my gosh, they're friend.
• 9:22
  Speaker 3: Everyone at home. Pumpkin is freaking adorable and pat.
• 9:25
  Speaker 4: Pumpkin is gorgeous.
• 9:27
  Speaker 1: And that Patch is our RSPCA Rescue. We got her.
• 9:32
  Speaker 4: I love you. Patch. No one can see these pictures,
• 9:37
  Speaker 4: but I promise you they are gorgeous. So let's move on,
• 9:42
  Speaker 4: because I feel like I could talk about pets literally
• 9:45
  Speaker 4: all day. Get me started diaries. Do you have any investments?
• 9:50
  Speaker 1: I do so apart from my super is she she's
• 9:53
  Speaker 1: twenty two.
• 9:54
  Speaker 3: Yess, you're doing much better than I was at twenty two.
• 9:57
  Speaker 4: That is for sure, much better than I was it
• 10:00
  Speaker 4: twenty two. I was backwards. At twenty two. I was
• 10:02
  Speaker 4: in debt and that's not a bad thing. We're all
• 10:04
  Speaker 4: in our own journeys. But just like looking at it,
• 10:06
  Speaker 4: you go, wow, that's so impressive to have your stuff
• 10:09
  Speaker 4: together so early.
• 10:10
  Speaker 1: It doesn't feel like it, but I guess when you
• 10:12
  Speaker 1: kind of write it all down, it's like, oh, I'm
• 10:14
  Speaker 1: actually a little bit, you know, but I'm pretty good
• 10:17
  Speaker 1: at it. Yeah, no, So it's nice. It's nice to
• 10:19
  Speaker 1: think that. But thankfully Mum and Dad were pretty on
• 10:22
  Speaker 1: the ball with the whole investing thing. So I have
• 10:26
  Speaker 1: obviously my super which Victoria taught me that that was
• 10:29
  Speaker 1: an investment, so and working for the government as well.
• 10:31
  Speaker 1: That's a nice little accumulating nice and quickly in my account.
• 10:36
  Speaker 1: And then I have about five thousand dollars in a
• 10:40
  Speaker 1: comsec share portfolio just a couple of different while exciting. Yes,
• 10:44
  Speaker 1: And then I've got a Raise account with just under
• 10:47
  Speaker 1: a thousand dollars in it. I started that after I
• 10:50
  Speaker 1: found Cheese on the money this year, and I have
• 10:53
  Speaker 1: a Superhero account which I am using for some US shares,
• 10:57
  Speaker 1: so I've got about five hundred US dollars in tool.
• 11:01
  Speaker 4: So what's the plan with your investment's long term?
• 11:03
  Speaker 1: I think because I had the concept ones first, and
• 11:07
  Speaker 1: I've had those for just over twelve months now, I'd
• 11:11
  Speaker 1: like to I'd like to kind of find some way
• 11:13
  Speaker 1: to merge them all, maybe in one kind of platform
• 11:17
  Speaker 1: or not, because yeah, it's having them having them in
• 11:19
  Speaker 1: separate places is interesting as well. But I'd like to
• 11:23
  Speaker 1: be able to regularly invest too, and just you know,
• 11:27
  Speaker 1: that nice early retirement feeling is the goal at the moment.
• 11:31
  Speaker 4: So it sounds like you're on track, my friends, like
• 11:34
  Speaker 4: I have no doubt you'll achieve it.
• 11:36
  Speaker 1: Yeah, So just try and find put I try and
• 11:39
  Speaker 1: budget and put even just a small amount of every
• 11:43
  Speaker 1: paycheck into my Superhero account to try and build that up.
• 11:47
  Speaker 1: And yeah, that's the goal at the moment.
• 11:49
  Speaker 4: Yeah. Wow, So next question for you is do you
• 11:53
  Speaker 4: have any debts. If so, what are they?
• 11:55
  Speaker 1: I do as well. So I've got my hextet which
• 11:58
  Speaker 1: is sitting over about thirty two thousand. I think I
• 12:01
  Speaker 1: have a dual degree and I have a Actually how
• 12:05
  Speaker 1: I found out about my whole identity fraud. I was
• 12:08
  Speaker 1: applying for my car loan, so I have a novated
• 12:11
  Speaker 1: lease with my like salary sacrifice salary package, my novated
• 12:16
  Speaker 1: lease for my car. So I got my new car
• 12:18
  Speaker 1: earlier this year, and then just the mortgage. So those
• 12:22
  Speaker 1: ones there exciting.
• 12:25
  Speaker 4: How much impact does de have on your life when
• 12:28
  Speaker 4: we look at you know, repayments, You've got the car,
• 12:31
  Speaker 4: You've got the house, Like, what does that look like
• 12:33
  Speaker 4: when it comes to budget and cash flow for you?
• 12:35
  Speaker 1: We've set it up pretty well so every it's really
• 12:39
  Speaker 1: quite good. My partner and I get paid on alternate fortnights,
• 12:43
  Speaker 1: so yeah, money all the time, yes, yes, So we
• 12:48
  Speaker 1: have we have some joint accounts together that we have
• 12:52
  Speaker 1: set amounts that we just both put into when we
• 12:54
  Speaker 1: get paid, and it's almost like it just doesn't exist.
• 12:57
  Speaker 1: So my car loan comes out of I pay before
• 13:00
  Speaker 1: I even see it, which I account into every fortnight.
• 13:04
  Speaker 1: So basically I just I don't count that as what
• 13:07
  Speaker 1: I've earnt. It just goes to my car. It all
• 13:09
  Speaker 1: gets paid. It colors my insurance and my red Gaol
• 13:12
  Speaker 1: and my fuel for that as well.
• 13:14
  Speaker 4: Such a good money win.
• 13:16
  Speaker 1: Yeah, it is a pretty good money whin actually, especially
• 13:18
  Speaker 1: when petrol prices are horrible at the moment. I really
• 13:20
  Speaker 1: have to think.
• 13:21
  Speaker 4: We were talking about this the other day on Friday drinks.
• 13:24
  Speaker 4: They are so expensive. I think it's also really important
• 13:27
  Speaker 4: when we talk about novated leases to only take on
• 13:29
  Speaker 4: things that we actually need, and when it comes to
• 13:32
  Speaker 4: a car, absolutely, but I think some people also go
• 13:35
  Speaker 4: a little bit overboard because they're, oh my gosh, it's novaded,
• 13:38
  Speaker 4: and somehow people equate that to being in their minds
• 13:41
  Speaker 4: free when it's not. It is coming out of your money. Yes,
• 13:44
  Speaker 4: it is pre tax income, which is a really big
• 13:47
  Speaker 4: money win. But we don't get an ovated lease just
• 13:49
  Speaker 4: because you're like, I really want a new car. As
• 13:52
  Speaker 4: long as it's in line with your goals and your
• 13:54
  Speaker 4: values and it's not going to put you behind, You're
• 13:56
  Speaker 4: still taking less money home each and every single week
• 14:00
  Speaker 4: to achieve your goals and achieve what you want to
• 14:02
  Speaker 4: do with your budget and cash flow. So I do
• 14:04
  Speaker 4: think it's really important to go you know, what is
• 14:07
  Speaker 4: that actually going to work for me? But in your situation,
• 14:09
  Speaker 4: I know it makes a lot of sense because you're like, well,
• 14:11
  Speaker 4: I need a car, and if it can come out
• 14:13
  Speaker 4: of my income before tax money win.
• 14:15
  Speaker 1: Yeah. In all honesty, if I had been listening to you,
• 14:19
  Speaker 1: I probably would have done it differently to start with. Really, yeah,
• 14:24
  Speaker 1: I guess just the fact that there is interest on
• 14:26
  Speaker 1: that loan regardless, like doesn't matter if it's coming out
• 14:29
  Speaker 1: of my pay you know, pre tax, I'm still paying
• 14:32
  Speaker 1: more for the car than I would it if I'd
• 14:34
  Speaker 1: bought it out right. And my parents have done it.
• 14:38
  Speaker 1: They're both government employees as well. They've both done the
• 14:41
  Speaker 1: novated leasing thing ever since I can remember. I can't
• 14:44
  Speaker 1: remember a time when they weren't doing it, and it's
• 14:46
  Speaker 1: been a really good tool for them in terms of
• 14:49
  Speaker 1: they would upgrade their cars every couple of years and
• 14:51
  Speaker 1: you know, pay out the balloon and then sell them
• 14:53
  Speaker 1: and just they were quite they're quite smart people. I
• 14:57
  Speaker 1: have them to thank for kind of that. Mind.
• 15:00
  Speaker 4: I heard they had a financial advisor solo.
• 15:04
  Speaker 1: So I guess I would have probably just saved up
• 15:07
  Speaker 1: and then purchased something outright. And my car is new
• 15:10
  Speaker 1: as well. I had my little trustee, old little Brena
• 15:14
  Speaker 1: from when I got my license. It had no airkorn
• 15:18
  Speaker 1: owing Queensland Queen's a tough fee, and it had broken
• 15:22
  Speaker 1: locks and all of that, and I just kind of
• 15:27
  Speaker 1: decided that when I had got my big girl job
• 15:30
  Speaker 1: and I got my full time job, that I my
• 15:32
  Speaker 1: car was like my first priority. And I think for
• 15:35
  Speaker 1: me having access to that novatedly sing meant I could
• 15:38
  Speaker 1: get it sooner. So that was where my mind was
• 15:40
  Speaker 1: at when when I got that earlier this year.
• 15:42
  Speaker 4: But yeah, I think it's not too bad, and I
• 15:45
  Speaker 4: know that there is a lot to take into consideration.
• 15:48
  Speaker 4: And I haven't sat down and analyzed your loan, but
• 15:50
  Speaker 4: I think when we look at it in the grand
• 15:52
  Speaker 4: scheme of things, even though you are paying interest on that,
• 15:56
  Speaker 4: I'm going to assume that the interest is not more
• 15:59
  Speaker 4: than how much to have you would have paid on
• 16:01
  Speaker 4: that taxable income. So I think it all does work
• 16:04
  Speaker 4: out in the end. But at the same time, we
• 16:06
  Speaker 4: really have to make sure that we're making decisions that
• 16:09
  Speaker 4: are actually in line with our values and actually in
• 16:11
  Speaker 4: line with what we're doing, instead of getting caught up
• 16:13
  Speaker 4: in it and going new car. I've just graduated. I
• 16:16
  Speaker 4: deserve it, and I totally get that because I really
• 16:19
  Speaker 4: wanted one and I did that and I was carrying
• 16:21
  Speaker 4: some debt when I had my first graduate job for
• 16:24
  Speaker 4: a car. I think I paid fourteen thousand dollars for
• 16:27
  Speaker 4: my first car that was not the car that I
• 16:29
  Speaker 4: had when I learned to drive, And at that point
• 16:33
  Speaker 4: in time, that was so much money. And if I
• 16:36
  Speaker 4: look back, I'm like, Victoria, you didn't need that. You
• 16:39
  Speaker 4: really didn't need it. But at the same time, I
• 16:42
  Speaker 4: felt really proud of that purchase and I felt really
• 16:44
  Speaker 4: proud driving it, and I wouldn't change it, but would
• 16:47
  Speaker 4: I want a little bit more education around making that decision,
• 16:50
  Speaker 4: of course, So I think we can't hold ourselves to
• 16:52
  Speaker 4: the standard of what we knew when we didn't have
• 16:55
  Speaker 4: the education. But at the same time, we're always learning.
• 16:57
  Speaker 4: So maybe next time you won't do it, or you will.
• 17:00
  Speaker 4: You'll look at the tax rates and the novated lease
• 17:02
  Speaker 4: options and make a decision that you're like, Nope, this
• 17:04
  Speaker 4: is the right one for me. So that we're super
• 17:06
  Speaker 4: confident always, and I bet if you're pretty good driving
• 17:09
  Speaker 4: around in the Queen with.
• 17:10
  Speaker 1: Air, Yes, I feel really good, trust me. It's sometimes
• 17:15
  Speaker 1: it's better to be in my so that's a lot
• 17:19
  Speaker 1: better for me. No more windows down as sweat beads
• 17:22
  Speaker 1: on my forehead.
• 17:23
  Speaker 4: So such a win. Next question is do you shop back?
• 17:28
  Speaker 1: I do. It was actually the life on Cut Girls
• 17:31
  Speaker 1: that got a little while ago. Yes, so that was
• 17:35
  Speaker 1: that was good. I got their little cheeky sign up
• 17:37
  Speaker 1: bonus money win and then yes, it was a big
• 17:40
  Speaker 1: money went and I've had a couple of referrals now
• 17:43
  Speaker 1: so more who is she Yes.
• 17:46
  Speaker 3: I feel like that's such a big win. That we
• 17:48
  Speaker 3: don't talk about enough is if you do use shot back,
• 17:50
  Speaker 3: if you sign up, you can obviously use the shees
• 17:52
  Speaker 3: on the money code SotM. It'll give you I think
• 17:55
  Speaker 3: it's ten dollars when you sign up three, but.
• 17:58
  Speaker 4: You can't get anything from that, sorry to buddy in
• 18:00
  Speaker 4: their Jess. Referrals happen for you guys, not for us.
• 18:04
  Speaker 4: So if you use our code, I don't make any
• 18:06
  Speaker 4: money from that. That's literally so that you guys have
• 18:08
  Speaker 4: a bit of a money win. But if you send
• 18:10
  Speaker 4: it to friends and they sign up you get money
• 18:13
  Speaker 4: for that too, exactly right.
• 18:15
  Speaker 1: I got so much so I it was what my
• 18:19
  Speaker 1: little sister I referred to her when it was a double,
• 18:23
  Speaker 1: a double referral deal or something. So it's normally twenty
• 18:27
  Speaker 1: dollars for a referral, but it was a double, so
• 18:30
  Speaker 1: I got we both got forty dollars.
• 18:33
  Speaker 4: Further, am incredible shopbacks. Not gonna like me saying this,
• 18:37
  Speaker 4: but I'm gonna say it anyway. Ask a power for
• 18:40
  Speaker 4: their shot back code, so that you are making money
• 18:43
  Speaker 4: for your friends as opposed to us, who doesn't make
• 18:45
  Speaker 4: any money from our referral money. Win Jenius shot back
• 18:49
  Speaker 4: and going to be like Victoria, stop that.
• 18:52
  Speaker 1: Little chrome extension. I use the app. I actually book
• 18:56
  Speaker 1: flights with my shop back dollars the other day.
• 18:59
  Speaker 3: Cool.
• 19:00
  Speaker 1: Yeah, so on the app on my phone, I was
• 19:02
  Speaker 1: booking through Jetstar, and you can buy jet Star gift vouchers. Yep,
• 19:07
  Speaker 1: now the hack get money back on the gift voucher.
• 19:10
  Speaker 1: And if you've got any pending like withdrawal cash, you
• 19:12
  Speaker 1: can actually just use that and then pay the difference
• 19:19
  Speaker 1: with genius.
• 19:21
  Speaker 4: I didn't know until recently you could do the gift
• 19:23
  Speaker 4: card thing. Genius everybody's just like hacking everything. I love it.
• 19:28
  Speaker 4: Good work legend. Next question, it might be that that
• 19:33
  Speaker 4: might be your best money habit, but I'm gonna ask anyway,
• 19:36
  Speaker 4: money Doris, what is your best money habit?
• 19:39
  Speaker 1: I am very, very very rarely pay full price for anything.
• 19:42
  Speaker 4: We love this, Yes, tell us your hack to the point.
• 19:45
  Speaker 1: Of sometimes it's a problem, not a fee. My dad
• 19:48
  Speaker 1: was like this too. We go to Woolworth, you'll know
• 19:51
  Speaker 1: the little yellow stickers on the worst thing. So sometimes
• 19:55
  Speaker 1: it would be so much of a problem that I
• 19:57
  Speaker 1: have to eat my entire grocery hall within two days
• 19:59
  Speaker 1: because they'd all be on the end of the day.
• 20:02
  Speaker 1: But no, no, I just think, yeah, I like to
• 20:05
  Speaker 1: try and find a sale, try and find a bug,
• 20:07
  Speaker 1: and get the best price for everything. When all my
• 20:09
  Speaker 1: insurances come around, I'm always trying to find new quotes
• 20:13
  Speaker 1: and which did it last night for my partner's car. Actually,
• 20:15
  Speaker 1: just I think we saved four hundred dollars on his
• 20:19
  Speaker 1: car just by doing another quote and all of that. Like,
• 20:23
  Speaker 1: so I think, yeah, that's probably my best money habit.
• 20:26
  Speaker 1: I chop around, I get a good that's a great one.
• 20:30
  Speaker 4: Yeah, yeah, I love that, And it's obviously really important
• 20:33
  Speaker 4: to do, but so many of us like, oh, I
• 20:34
  Speaker 4: can't be bothered. But it doesn't take long, does it?
• 20:37
  Speaker 1: No, not at all. I think we ended up getting
• 20:39
  Speaker 1: four quotes last night, and yeah, I think it took
• 20:41
  Speaker 1: about ten to fifteen minutes to get a couple of quotes.
• 20:44
  Speaker 1: And yeah, it was four hundred dollars saving, so that's
• 20:46
  Speaker 1: you know, money win there.
• 20:48
  Speaker 4: It's such a money win, and I think that we
• 20:50
  Speaker 4: don't see how important that is. You don't want to
• 20:52
  Speaker 4: look at it. But if you said to me, hey, Victoria,
• 20:55
  Speaker 4: do you want to make four hundred bucks in half now,
• 20:56
  Speaker 4: I'd be like, ah, yes, Like you're literally doing that
• 21:00
  Speaker 4: for yourselves by doing it, So start seeing it that way,
• 21:02
  Speaker 4: and I promise you you'll be like I just made
• 21:04
  Speaker 4: for him.
• 21:05
  Speaker 1: But no, honestly, so good and even just we went
• 21:07
  Speaker 1: in there thinking we'd pop it on our joint account
• 21:10
  Speaker 1: and just take it out monthly, but then we saw
• 21:14
  Speaker 1: you know, the monthly versus yearly savings, and you get
• 21:17
  Speaker 1: a pity's a good two hundred dollars as well, just
• 21:19
  Speaker 1: by paying it, you know, in one go instead of
• 21:23
  Speaker 1: instead of over twelve months. So yeah, no, it was
• 21:25
  Speaker 1: really good.
• 21:26
  Speaker 4: Yeah, which is a really good thing to be able
• 21:28
  Speaker 4: to do. But I think it's also worthy of note
• 21:30
  Speaker 4: that some people just don't have that capacity, and that's
• 21:33
  Speaker 4: why it's so important to get your budget and cash
• 21:35
  Speaker 4: flow in order so that you not only are able
• 21:38
  Speaker 4: to budget and understand what's coming in and out of
• 21:40
  Speaker 4: your account, but you'll start to have amounts of money
• 21:43
  Speaker 4: set aside so that you can then save more money
• 21:47
  Speaker 4: in the long term by making decisions like that, Because
• 21:49
  Speaker 4: if you're not on top of your budget and cash
• 21:51
  Speaker 4: flow and don't have savings, you'll be like, oh my god,
• 21:53
  Speaker 4: I could save another two hundred bucks if I paid
• 21:55
  Speaker 4: for an hour, right, I don't have the cashlough, so
• 21:57
  Speaker 4: that's not an option. But if you start to actually
• 22:00
  Speaker 4: save and put money aside and understand your money, you're
• 22:04
  Speaker 4: going to be able to put yourself in a position
• 22:06
  Speaker 4: where you end up saving even more. And that it
• 22:09
  Speaker 4: feels like you're being shot in the food because you're like,
• 22:11
  Speaker 4: what are you saying, I can only save if I save,
• 22:13
  Speaker 4: But yes, sometimes that's the case.
• 22:15
  Speaker 1: Yeah, No, it's good to see.
• 22:17
  Speaker 4: All right. Next question, I don't know if you have
• 22:20
  Speaker 4: any but what is your worst money habit.
• 22:23
  Speaker 1: Oh, I can be very impulsive with my purchases.
• 22:27
  Speaker 4: You're like the yellow sticker. I might be saved, but I.
• 22:31
  Speaker 1: Need that chocolate moose this week? Or did I really
• 22:33
  Speaker 1: need six yogurts like I'm not going to eat?
• 22:36
  Speaker 3: Yes?
• 22:36
  Speaker 2: You did?
• 22:36
  Speaker 1: You did?
• 22:37
  Speaker 3: Yeah.
• 22:38
  Speaker 1: I think sometimes it's you know, I try and put
• 22:41
  Speaker 1: money aside for certain things, like I'll have a look
• 22:43
  Speaker 1: at the fortnight ahead when I get paid and try
• 22:45
  Speaker 1: and be like, you know, I've got this, this and
• 22:47
  Speaker 1: this coming up this week, so I've got to put
• 22:49
  Speaker 1: money aside, but I don't factor in like ah, a
• 22:52
  Speaker 1: friend's message to go out for brunch, like there's you know,
• 22:55
  Speaker 1: thirty dollars it's coming out that I haven't thought of,
• 22:57
  Speaker 1: or you know, oh, there's a really cute dress I
• 23:00
  Speaker 1: walked past when I was out shopping, and then I
• 23:02
  Speaker 1: just think I don't quite process it in due time.
• 23:06
  Speaker 1: It's like after the purchase is always like a little
• 23:08
  Speaker 1: bit of guilt after the purchase too. I guess the
• 23:11
  Speaker 1: impulsivity and then the guilt kind of go hand in
• 23:14
  Speaker 1: hand with me. So I'm trying to be trying to
• 23:17
  Speaker 1: put a little bit of fun money aside as well
• 23:19
  Speaker 1: to just staying within those parameters, I guess is just
• 23:23
  Speaker 1: something I'm trying to work on. So yeah, I.
• 23:27
  Speaker 3: Yeah, having your fun money is really important. Being able
• 23:30
  Speaker 3: to do those little things like the brunch, I think
• 23:32
  Speaker 3: without feeling guilty and being like, I've allocated money for
• 23:35
  Speaker 3: this and it's okay if something comes up to spend
• 23:38
  Speaker 3: on it. I am someone who used to struggle with
• 23:40
  Speaker 3: that and building it into my budget, Victoria, Like how
• 23:43
  Speaker 3: you taught me just made such a big difference.
• 23:46
  Speaker 4: You shouldn't feel guilty about this stuff.
• 23:48
  Speaker 3: Yeah, Like, it's life.
• 23:49
  Speaker 4: Life happens. A budget shouldn't be this perfect thing that
• 23:53
  Speaker 4: you go, oh my gosh, I'm an absolute legend because
• 23:56
  Speaker 4: I don't spend any money on these things. I'm like, sorry,
• 23:59
  Speaker 4: that's not reasonable to expect you guys to not want
• 24:01
  Speaker 4: to go out for breakfast with your friends. Why can't
• 24:03
  Speaker 4: we build it in? So yeah, sometimes you do have
• 24:06
  Speaker 4: to say no because you can't do it every single
• 24:07
  Speaker 4: day of the week. But at least you go, ah,
• 24:10
  Speaker 4: rudy done that. I don't feel like I'm missing out.
• 24:13
  Speaker 1: Like the diet analogy, when someone is on a diet
• 24:16
  Speaker 1: and they're super super strict and then you have one
• 24:18
  Speaker 1: slip up and then it's the rest of the day.
• 24:21
  Speaker 1: I feel like sometimes it's like that we're spending for
• 24:23
  Speaker 1: me too, Like if I have one slip up, then
• 24:25
  Speaker 1: it's like, oh, well budget's blown this fortnight, like may
• 24:27
  Speaker 1: as well, may as well have fun with it. So
• 24:30
  Speaker 1: I guess it's just trying to learn how to Yeah,
• 24:32
  Speaker 1: like you said, Victoria, have the fun money, enjoy it.
• 24:35
  Speaker 1: But in you know, in my means, in moderation.
• 24:39
  Speaker 4: Yeah, everything in moderation, just like a diet, everything in moderation.
• 24:44
  Speaker 4: We don't want to be restrictive, and we also don't
• 24:46
  Speaker 4: want to binge. But at the same time, sometimes we
• 24:49
  Speaker 4: fall into those things and it just happens, and that's okay.
• 24:52
  Speaker 4: But we need to know our money story and our
• 24:55
  Speaker 4: personalities well enough so that we can correct it and go, oh,
• 24:58
  Speaker 4: that's what I'm doing. I'm a bit cheeky when it
• 25:00
  Speaker 4: comes to that, or oh my gosh, no, that's actually
• 25:03
  Speaker 4: not a muck up. Yeah, I overspent on brunch, but
• 25:05
  Speaker 4: that doesn't mean the rest of the fortnite is completely
• 25:07
  Speaker 4: written off. So I think we need to be a
• 25:09
  Speaker 4: little kinder on ourselves. But the way to be kinder
• 25:12
  Speaker 4: on ourselves is to be planned and know where to
• 25:14
  Speaker 4: be kind. Money Diarist, the last question before we get
• 25:19
  Speaker 4: to ask about all this fraud stuff, which I have
• 25:22
  Speaker 4: been raring to ask about, is what grade would you
• 25:25
  Speaker 4: give yourself if we forced you to grade your money habits.
• 25:28
  Speaker 1: I I'm thinking of B plus.
• 25:30
  Speaker 4: Oh really, yeah.
• 25:32
  Speaker 1: I'm happy. I'm happy with where I'm at, but I
• 25:35
  Speaker 1: know I've got quite a bit to go in terms
• 25:37
  Speaker 1: of being like just feeling comfortable myself. So, like I said,
• 25:41
  Speaker 1: my emergency funds a little bit low at the moment,
• 25:44
  Speaker 1: and I'm not investing as regularly as I would like
• 25:46
  Speaker 1: to be. So I think once I can get those
• 25:49
  Speaker 1: two things kind of on track, i'd like to think
• 25:52
  Speaker 1: that I could give myself an A.
• 25:54
  Speaker 4: I think you are absolutely on the right path, like
• 25:56
  Speaker 4: the fact you are twenty to have a mortgage on
• 26:00
  Speaker 4: top of it. Oh, you are absolutely killing it. I
• 26:03
  Speaker 4: can't wait to ask more questions about that and all
• 26:05
  Speaker 4: the fraud stuff. Right after this very quick break, let's
• 26:09
  Speaker 4: jump straight back into it, Money Diarist, we heard it
• 26:12
  Speaker 4: in your email your identity was stolen? Is that correct?
• 26:17
  Speaker 1: Yes?
• 26:18
  Speaker 4: Can you tell us what happened, how it happened, and oh,
• 26:21
  Speaker 4: we want all the juicy and interesting details.
• 26:24
  Speaker 1: Yeah, so it was a bit of a scary time. Actually,
• 26:28
  Speaker 1: my my handbag got stolen. Yeah, the day I moved
• 26:33
  Speaker 1: out of home when I was eighteen. Oh my god,
• 26:37
  Speaker 1: that was that was pretty rough. So I was moving
• 26:41
  Speaker 1: my stuff into my new house with my dad and
• 26:43
  Speaker 1: left my handbag on the seat of his car. I
• 26:46
  Speaker 1: came back and.
• 26:46
  Speaker 3: It was got No, that's so bad to take it
• 26:50
  Speaker 3: from a car in the middle of the day, out
• 26:52
  Speaker 3: in the front of somebody's house.
• 26:54
  Speaker 1: Yeah, it was. It was at night, so I guess
• 26:56
  Speaker 1: there was a bit more like coverage of Yeah, anyway,
• 27:01
  Speaker 1: that was very interesting, not that one, but yeah, so
• 27:05
  Speaker 1: it was. It was only a probably like a thirty
• 27:07
  Speaker 1: second window where Dad and I were both away from
• 27:09
  Speaker 1: the car. Thirty second wind time it took for us
• 27:13
  Speaker 1: to carry like a set of drawers between the car
• 27:15
  Speaker 1: and the front door of the house. That was. That
• 27:17
  Speaker 1: was it. The dad was obviously a bit of a
• 27:20
  Speaker 1: planned thing by the seams of it. It was pretty
• 27:24
  Speaker 1: scary to think. So I didn't realize until we were
• 27:27
  Speaker 1: driving home.
• 27:28
  Speaker 4: Yeah, that's terrifying. That means that they were watching you
• 27:32
  Speaker 4: and knew that you were going to leave the car
• 27:34
  Speaker 4: and oh that gives me the HEBG.
• 27:37
  Speaker 1: Yeah, it was pretty rough. So my handbag had my
• 27:41
  Speaker 1: life in it. It had my my car keys because
• 27:44
  Speaker 1: we were in Dad's car, so it had my car
• 27:45
  Speaker 1: keys and my work keys, my house keys, my purse,
• 27:51
  Speaker 1: which obviously has everything in it, my license, my Medicare
• 27:54
  Speaker 1: card or my debit cards and stuff like that, my
• 27:58
  Speaker 1: diary which had several pace lips in the front of
• 28:01
  Speaker 1: it from that year, and then just a bunch of
• 28:05
  Speaker 1: like really inconvenient things like my reading glasses and my just.
• 28:08
  Speaker 4: Like all the annoying stuff. Your favorite lip barm I'm
• 28:12
  Speaker 4: assuming was also in there, just.
• 28:13
  Speaker 1: Like really inconvenient. I think anyone who's lost or had
• 28:16
  Speaker 1: a handbake stall and knows how frustrating it is to
• 28:19
  Speaker 1: have to replace all of that. And of course the
• 28:22
  Speaker 1: frames of my glasses were discontinued, so I couldn't get
• 28:25
  Speaker 1: the same glasses. It. Just like I was like really
• 28:27
  Speaker 1: really inconvenient things. So the next day I went to
• 28:32
  Speaker 1: my bank. As I was sitting in my bank, I
• 28:34
  Speaker 1: was watching them use my debit card. So no, yeah,
• 28:38
  Speaker 1: just like really stupid things like vending machines and smoke
• 28:41
  Speaker 1: marks and stuff like that. So I watched them. As
• 28:43
  Speaker 1: I was sitting with this beautiful bank person, he was
• 28:47
  Speaker 1: tears streaming down my face. He was really pretty like, yeah,
• 28:52
  Speaker 1: pretty rough. I'd just moved out of home, I'd saved
• 28:54
  Speaker 1: up to move out, all my like all of that stuff.
• 28:56
  Speaker 1: I was like terrified. So thankfully I was able to
• 28:59
  Speaker 1: cancel my card. I think I put a thirty day
• 29:01
  Speaker 1: lock or something. We did what the bank's process was,
• 29:04
  Speaker 1: and I thought that was it. Over the next couple
• 29:07
  Speaker 1: of months, I kept getting calls from the police saying
• 29:09
  Speaker 1: they'd found certain things in certain places. So my medicare
• 29:12
  Speaker 1: cub was found in a completely different suburb, my license
• 29:15
  Speaker 1: was found over like the other side of Brisbane. Like
• 29:18
  Speaker 1: just a lot of things turning up. So I got
• 29:20
  Speaker 1: a couple of calls and then I kind of just
• 29:22
  Speaker 1: forgot about it. Like I've replaced my license. I paid,
• 29:25
  Speaker 1: you know, the license fee, which is also very inconvenient. Yeah,
• 29:30
  Speaker 1: I think it's eighty dollars to replace a license in Queensland,
• 29:33
  Speaker 1: and they don't care if it was stolen or not.
• 29:34
  Speaker 1: I still had to pay it. So yeah, so that
• 29:37
  Speaker 1: was pretty rough. So I kind of forgot about it
• 29:40
  Speaker 1: and then the start of this year was the first
• 29:45
  Speaker 1: time that I had gone to apply for any kind
• 29:49
  Speaker 1: of loan. So maybe three and a half years later,
• 29:52
  Speaker 1: close to four years later, this had all happened. I
• 29:56
  Speaker 1: went through all my you know, my innovated leasing company
• 29:59
  Speaker 1: did the application and put in all my details, how
• 30:02
  Speaker 1: much I was earning. I had no debts. I've never
• 30:04
  Speaker 1: had a credit card. I've never had any kind of
• 30:06
  Speaker 1: debt prior to my carlone now. And I went through process,
• 30:10
  Speaker 1: and he got back to me and said, your application
• 30:12
  Speaker 1: has been declined. There's two and a half thousand dollars
• 30:16
  Speaker 1: of unpaid telephone bills to your name, and yeah, and
• 30:23
  Speaker 1: a bunch of It's not like I've never even had
• 30:26
  Speaker 1: a mobile phone plan. I've paid for my plans, I
• 30:29
  Speaker 1: have prepaid plans, I pay for my phones outright. I've
• 30:31
  Speaker 1: never had like I didn't have a phone bill.
• 30:34
  Speaker 3: Ever.
• 30:34
  Speaker 1: I was like, that kind of happened. So I felt
• 30:38
  Speaker 1: a bit yuck after that phone call.
• 30:40
  Speaker 4: I would have felt physically sick.
• 30:42
  Speaker 1: Yeah, And he emailed me just kind of like a
• 30:44
  Speaker 1: breakdown of why they declined the application as well. So
• 30:49
  Speaker 1: I just kind of googled what to do. I was like, oh,
• 30:52
  Speaker 1: I didn't really know what to do here. So someone
• 30:55
  Speaker 1: told me to get my credit report from Equifax. So
• 30:57
  Speaker 1: that was my next step, and that was a that
• 31:00
  Speaker 1: was a terrifying experience. On my lunch break at work,
• 31:02
  Speaker 1: I logged on made an account and there was pages
• 31:05
  Speaker 1: and pages and pages of credit inquiries.
• 31:07
  Speaker 4: My name on them, and you were like, I did
• 31:09
  Speaker 4: not do this, Yeah.
• 31:11
  Speaker 1: None of them. And actually I put two and two
• 31:13
  Speaker 1: together a bit later. I'd been declined for power a
• 31:16
  Speaker 1: couple of years earlier, and I didn't kind of I
• 31:18
  Speaker 1: didn't really click why. I was like, oh, maybe it's
• 31:20
  Speaker 1: because I have no credit history. I'm a young girl,
• 31:22
  Speaker 1: like whatever.
• 31:23
  Speaker 2: So we just did it.
• 31:24
  Speaker 4: Didn't think about it.
• 31:25
  Speaker 1: Partner's name, so I didn't even think about it, but
• 31:28
  Speaker 1: that inquiry was on there. And then there was inquiries
• 31:31
  Speaker 1: for credit cards up to the value of twenty thousand
• 31:34
  Speaker 1: dollars and personal loans and other mobile phone bills. They
• 31:39
  Speaker 1: were all just inquiries, which I'm very thankful that they
• 31:43
  Speaker 1: didn't get through. But then there was this bill, this
• 31:47
  Speaker 1: two and a half grand voter phone bill, and I
• 31:51
  Speaker 1: was like, right, okay, and I went into it, and
• 31:55
  Speaker 1: it's not an easy process. To dispute those.
• 32:00
  Speaker 4: So no, it's really so.
• 32:03
  Speaker 1: It was a couple of months it took me to
• 32:06
  Speaker 1: dispute those, thankfully, because I'd done all the right things
• 32:09
  Speaker 1: at the time. I had police report numbers from the
• 32:13
  Speaker 1: night that it was stolen. I had correspondence back and
• 32:16
  Speaker 1: forth from a couple of like the banks and stuff
• 32:20
  Speaker 1: saying my kind had been listed as stolen and stuff
• 32:22
  Speaker 1: like that. And then I had to I had to
• 32:25
  Speaker 1: do so many status like so many lines of the
• 32:30
  Speaker 1: JAP how frustrate. It really keeps you in my life
• 32:33
  Speaker 1: for a couple of weeks, and then just kind of
• 32:35
  Speaker 1: following up after the fact of everything was kind of uploaded.
• 32:39
  Speaker 1: It was. It was intense and not knowing whether that
• 32:41
  Speaker 1: debt would be wiped, like no one had given me
• 32:44
  Speaker 1: any inclination. They all made me feel everyone I spoke to,
• 32:48
  Speaker 1: I know they were just doing their job, but they
• 32:49
  Speaker 1: made me feel quite horrible, like it was my fault
• 32:53
  Speaker 1: and it was my debt and I had It was
• 32:56
  Speaker 1: really hard. I went through a couple of channels with
• 32:59
  Speaker 1: the because it had gone from the phone company to
• 33:03
  Speaker 1: a credit company to a debt collector, so there was
• 33:06
  Speaker 1: a couple of different channels I had to go through,
• 33:09
  Speaker 1: and obviously they didn't have my phone number, they didn't
• 33:11
  Speaker 1: have my correct address, nothing was coming to me. They
• 33:14
  Speaker 1: had an email account that looked like it could have
• 33:16
  Speaker 1: been me, So someone had made an email account with
• 33:19
  Speaker 1: my name with different numbers in it, and obviously I
• 33:23
  Speaker 1: didn't have access to that, so I wasn't getting any correspondence.
• 33:26
  Speaker 4: Like that's not really it's my phone number.
• 33:28
  Speaker 1: That's not my email. Yes, that's my birth date. But
• 33:31
  Speaker 1: they had four different documents like on them with my
• 33:34
  Speaker 1: birth date on it. They had, you know, sorry, it
• 33:37
  Speaker 1: was pretty frustrating to kind of try and get around
• 33:41
  Speaker 1: all of that. So I think it was a couple
• 33:43
  Speaker 1: months after I finally got there, we're wiping this debt
• 33:46
  Speaker 1: thank you email. So that was that was a bit
• 33:50
  Speaker 1: of a weight off my shoulders there.
• 33:52
  Speaker 4: Thank god. That's terrifying though, to have to go through
• 33:55
  Speaker 4: all of that, and imagine if you'd lost it and
• 33:58
  Speaker 4: not reported it, or you'd lost it and not gone
• 34:01
  Speaker 4: through all of those processes to prove it, you would
• 34:04
  Speaker 4: have been lumped with that.
• 34:05
  Speaker 1: Yeah, and I think it's a big it's a big
• 34:08
  Speaker 1: kind of wake up call to you know, maybe once
• 34:11
  Speaker 1: a year. Just check your credit Just check your credit report,
• 34:14
  Speaker 1: check check, just have a bit truly, just jump on,
• 34:17
  Speaker 1: log on, it's free, you get a free one. I
• 34:19
  Speaker 1: think it's every twelve months you can get a free
• 34:21
  Speaker 1: one or if anything changes, so it's true, So jump on.
• 34:25
  Speaker 4: And if you're not on top of that, like at
• 34:27
  Speaker 4: the same time, you might not be saving for a
• 34:29
  Speaker 4: house and you're like, I don't need debt, it doesn't matter.
• 34:31
  Speaker 4: But what if someone's got debt in your name? What
• 34:33
  Speaker 4: if it is something that you need to be on
• 34:35
  Speaker 4: top of and you've just left it for too long,
• 34:37
  Speaker 4: it can actually destroy your credit rating. But also you
• 34:40
  Speaker 4: might end up having to pay that because you've got
• 34:42
  Speaker 4: no way of proving it wasn't you. How awful is that.
• 34:45
  Speaker 4: It's like guilty until proven innocent instead of innocent until
• 34:49
  Speaker 4: proven guilty.
• 34:50
  Speaker 1: Which is really rough. And I was really lucky because
• 34:53
  Speaker 1: our mortgage is just in my in my partner's name.
• 34:56
  Speaker 1: But we were looking at buying another house this year,
• 35:00
  Speaker 1: and if I had not gone through that process earlier
• 35:04
  Speaker 1: this year and then we'd gone to apply for another
• 35:07
  Speaker 1: loan in joint names and this had come up, then
• 35:11
  Speaker 1: there was a house we wanted it would have been.
• 35:13
  Speaker 4: And they wouldn't have even said anything. They would have
• 35:15
  Speaker 4: just been straight declined. They wouldn't have spoken to you
• 35:17
  Speaker 4: about it. They would have just said, sorry, you can't
• 35:18
  Speaker 4: get the loan, and you would have been like.
• 35:20
  Speaker 1: Maybe we haven't saved enough, or maybe I don't earn enough,
• 35:23
  Speaker 1: like like that would have I wouldn't have ever thought
• 35:24
  Speaker 1: about it. So it's it was a blessing in disguise,
• 35:28
  Speaker 1: but it was also a very big hassle. So you
• 35:30
  Speaker 1: can avoid going through it, that'd be the best thing.
• 35:34
  Speaker 1: So it's always that, it's always that thought that it
• 35:37
  Speaker 1: won't happen to me, but it did happen to me,
• 35:41
  Speaker 1: and so unassumingly, and especially in the world that we
• 35:44
  Speaker 1: live in today with everything online and you put your
• 35:47
  Speaker 1: credit card details in every website to make your online
• 35:50
  Speaker 1: purchases and do all this, and you're uploading documents to left,
• 35:54
  Speaker 1: right and center because obviously we're in a very virtual
• 35:56
  Speaker 1: world at the moment. You can't you know, go into
• 35:59
  Speaker 1: place is and you know, even applying for jobs and
• 36:02
  Speaker 1: stuff like that. I'm uploading copies of passports and ideas.
• 36:07
  Speaker 4: And you do it every day, right, like you don't
• 36:09
  Speaker 4: it's not even a question. It's kind of like a given.
• 36:12
  Speaker 4: You have to do that to get through life. How
• 36:16
  Speaker 4: could I know that? Obviously, you can't avoid having it stolen.
• 36:19
  Speaker 4: Obviously a really big thing is don't leave your handbag
• 36:22
  Speaker 4: on the dnity in the car. But was there any
• 36:25
  Speaker 4: way you could have avoided any of this happening in
• 36:28
  Speaker 4: the first pl.
• 36:29
  Speaker 1: So I found out afterwards. So all of the if
• 36:34
  Speaker 1: I had to look at the dates on all of
• 36:36
  Speaker 1: the transactions and inquiries, they all happened within six months
• 36:39
  Speaker 1: of my handbag being stolen. I just didn't find out
• 36:42
  Speaker 1: about them until three years later. There's actually something you
• 36:45
  Speaker 1: can do to your credit where you can block any
• 36:49
  Speaker 1: kind of credit applications. You can't I think, Victoria, do
• 36:52
  Speaker 1: you know the days? How many days? I think it's
• 36:54
  Speaker 1: thirty days or ninety days.
• 36:56
  Speaker 4: I can't remember how many days it is. But you
• 36:59
  Speaker 4: can block so any credit inquiry is flagged and it
• 37:03
  Speaker 4: won't actually go through. So you kind of have blocked
• 37:06
  Speaker 4: it in the same way that you could block a
• 37:08
  Speaker 4: debit card. But it's interesting because people are like, oh,
• 37:12
  Speaker 4: you can't do that. They'll go to any bank. Yes,
• 37:14
  Speaker 4: but it's all the same credit report. So if you
• 37:16
  Speaker 4: block your credit report, it doesn't matter if they were
• 37:19
  Speaker 4: going for Westpac or A and Z or you know,
• 37:21
  Speaker 4: a bank randomly regionally, they just wouldn't be able to
• 37:25
  Speaker 4: get the credit and it would be bounced back. Not
• 37:27
  Speaker 4: only would it be bounced back, but it would be
• 37:29
  Speaker 4: flagged as fraudulent, which is genius. But nobody knows that, right.
• 37:34
  Speaker 1: Nobody told me either, So nobody told me.
• 37:38
  Speaker 3: I feel like that's on your bank a little bit. Yeah,
• 37:40
  Speaker 3: I mean to have.
• 37:41
  Speaker 4: It should have been a part of that process because
• 37:43
  Speaker 4: you contacted them, right.
• 37:45
  Speaker 3: You did all the right things. Surely someone out there
• 37:47
  Speaker 3: should have said to you, hey, like, here's how you
• 37:50
  Speaker 3: put yourself in the bees to project your identity, because
• 37:54
  Speaker 3: if someone steals that bank card, I mean, you're blocking
• 37:57
  Speaker 3: the card so they can't take your money. But if
• 38:00
  Speaker 3: they're prepared to do that, it's highly probable that they're
• 38:02
  Speaker 3: prepared to do all of these other things.
• 38:04
  Speaker 1: Right, Yeah, and it was I got. I got quite
• 38:07
  Speaker 1: frustrated when I was going through all of this because
• 38:10
  Speaker 1: my my bank I was with, I was with a
• 38:12
  Speaker 1: bank at the time I went into them. I did
• 38:14
  Speaker 1: the whole blocking thing. That was all good. I got
• 38:16
  Speaker 1: a new debit card, still kept my accounts with them.
• 38:18
  Speaker 1: They were actually one of the accounts that had a
• 38:20
  Speaker 1: credit inquiry on them. Oh no, what And I looked
• 38:24
  Speaker 1: into it. I spoke with a really lovely guy on
• 38:27
  Speaker 1: the phone, and he was able to give me all
• 38:28
  Speaker 1: the details that this person used to apply for the
• 38:31
  Speaker 1: credit card, an email account that definitely did not match
• 38:35
  Speaker 1: my email account.
• 38:36
  Speaker 4: And they didn't even I was a customer.
• 38:39
  Speaker 1: I was a customer with them. They had I was
• 38:41
  Speaker 1: getting my you know, bank statements in the mail. I
• 38:44
  Speaker 1: had my address, they had my parents address where I
• 38:46
  Speaker 1: used to live, Like this address did not match anything.
• 38:51
  Speaker 1: The email address was some completely other female name, like
• 38:54
  Speaker 1: not even close to my name. Their phone number wasn't
• 38:58
  Speaker 1: the mine. So and like so my employer on my
• 39:02
  Speaker 1: credit report. I'd never worked for them before, because someone's
• 39:06
  Speaker 1: applied for this, you know, these credit cards and put
• 39:09
  Speaker 1: their employer or something like that on there, and now
• 39:12
  Speaker 1: it's on my credit history that I've worked that that
• 39:15
  Speaker 1: was my employer when it was never the case. So
• 39:17
  Speaker 1: I was very frustrated in that system and the fact
• 39:19
  Speaker 1: that I was a customer with them.
• 39:21
  Speaker 4: Didn't feel protected, he didn't feel supported, like you would
• 39:24
  Speaker 4: have thought that if you were a customer of that bank,
• 39:26
  Speaker 4: at least they couldn't get it at that bank, right
• 39:28
  Speaker 4: because they'd know they'd look after it.
• 39:30
  Speaker 1: Or they would have told me, like send me an email,
• 39:33
  Speaker 1: or your name has been used. You're like, you know
• 39:36
  Speaker 1: your license has been used to apply for this loan?
• 39:39
  Speaker 1: Is it you?
• 39:40
  Speaker 4: No, it's not me.
• 39:42
  Speaker 3: It's safe to say that you're not a customer at
• 39:44
  Speaker 3: that bank.
• 39:47
  Speaker 4: Who would have guessed? So talk to me about that
• 39:50
  Speaker 4: process of finding out. So you found out that it
• 39:52
  Speaker 4: wasn't you, you reported it to the police. Did that
• 39:56
  Speaker 4: person get caught? Have they been followed up?
• 39:58
  Speaker 3: Like?
• 39:58
  Speaker 4: Do we know who did this?
• 40:00
  Speaker 1: I actually so. After I found out about the credit reporting,
• 40:04
  Speaker 1: I made another report. The name of it will go
• 40:08
  Speaker 1: over my head at the moment, but there's another there's
• 40:10
  Speaker 1: an online like cybercrime reporting thing. I did as well,
• 40:14
  Speaker 1: and I was followed up by my local police station,
• 40:17
  Speaker 1: and the officer who was investigating it, she said she
• 40:21
  Speaker 1: had some kind of lead asked me to give a statement.
• 40:24
  Speaker 1: So I did give quite a lengthy statement all of
• 40:28
  Speaker 1: the I'm quite a record keeper myself.
• 40:30
  Speaker 4: You sound very I'm not gonna lie. You're very organized.
• 40:34
  Speaker 1: I love it. Yes, I had all of the details.
• 40:36
  Speaker 1: I had all the police report numbers. I had pretty
• 40:38
  Speaker 1: much like a play by play of what happened back
• 40:41
  Speaker 1: in twenty eighteen. It was, and I was able to
• 40:44
  Speaker 1: provide them all the information. So I haven't had any
• 40:46
  Speaker 1: follow up unfortunately. But yeah, that even just the name
• 40:49
  Speaker 1: of the person from it that I got from that
• 40:52
  Speaker 1: the bank they told me. So yeah, like fingers crossed,
• 40:56
  Speaker 1: how discussed at the end of the day. My mum
• 40:58
  Speaker 1: works in Lauren Loossman as well, and she said, unfortunately,
• 41:02
  Speaker 1: at the end of the day, like that's criminal activity,
• 41:05
  Speaker 1: that's that's planned, that's targeted. That's not just someone being
• 41:09
  Speaker 1: a little bit cheeky, that's actually someone being real nasty.
• 41:12
  Speaker 1: And nine times out of ten they get away with
• 41:15
  Speaker 1: it because of the way it works in terms of
• 41:19
  Speaker 1: you can't really prove who's made that application if it's
• 41:22
  Speaker 1: your name and your photo on it. So yeah, unfortunately,
• 41:26
  Speaker 1: So I think prevention is better than a cure in
• 41:28
  Speaker 1: the case of identity frauds.
• 41:30
  Speaker 4: So yeah, that is horrendous, And I'm glad you're talking
• 41:34
  Speaker 4: about it with us, because they think so many people
• 41:36
  Speaker 4: would go, oh, I lost my wallet on an eight
• 41:39
  Speaker 4: out and yes, you lost a lot more so I
• 41:42
  Speaker 4: guess they were able to do more. But you don't
• 41:44
  Speaker 4: actually need someone's entire handbag to take their ID. You
• 41:47
  Speaker 4: just need a few things.
• 41:49
  Speaker 1: Yeah, And I have no idea if they even use
• 41:51
  Speaker 1: the pace lips that were in there, Like, I don't
• 41:54
  Speaker 1: know what they've actually needed to get this, but it
• 41:56
  Speaker 1: was a phone, So I don't know what they've needed
• 41:58
  Speaker 1: to get this phone. But I don't, like I've never
• 42:00
  Speaker 1: applied for a phone myself, I don't really know. But
• 42:03
  Speaker 1: like a name and a date of birth and a license.
• 42:06
  Speaker 3: Like it's actually not that hard.
• 42:08
  Speaker 1: Yeah, and it's all online these days, they ask for
• 42:11
  Speaker 1: all online.
• 42:12
  Speaker 4: Yeah, and that's what's so heartbreaking about it. And you know,
• 42:15
  Speaker 4: when you go out on a night out, you actually
• 42:17
  Speaker 4: have to take your ID to get in anywhere. You
• 42:19
  Speaker 4: have to take a bank card because you're going to
• 42:21
  Speaker 4: pay for some things. So I think we just need
• 42:23
  Speaker 4: to be super vigilant about carrying our stuff around because
• 42:26
  Speaker 4: even if you leave it in a bar or you know,
• 42:28
  Speaker 4: on the bathroom stall, like I know a million people
• 42:32
  Speaker 4: who have lost their wallets, and thankfully most times it
• 42:34
  Speaker 4: works out fine. You just cancel your card, work it
• 42:36
  Speaker 4: all out. Maybe it'll turn up again. Your wallet might
• 42:39
  Speaker 4: turn up and might just not have the cash in it,
• 42:40
  Speaker 4: and that's all right, but sinister things can happen, and
• 42:44
  Speaker 4: there are people out there who do plan to do this,
• 42:47
  Speaker 4: and as you learned Money Direst they've planned it, they
• 42:51
  Speaker 4: use that window, they got it, and they have been
• 42:53
  Speaker 4: able to do a lot with it. But I've heard
• 42:55
  Speaker 4: of situations as well where people have had mortgages taken out,
• 42:59
  Speaker 4: they have had massive personal loans taken out, and I mean,
• 43:02
  Speaker 4: there's a whole business in it, isn't there.
• 43:05
  Speaker 1: I'm really fortunate that it was just that one line
• 43:08
  Speaker 1: of credit that I had to deal with because it
• 43:10
  Speaker 1: was as simple. I wouldn't call it simple, but it
• 43:14
  Speaker 1: was just one I had to clear. I'd probably still
• 43:16
  Speaker 1: be going if there was more than one. Yeah, So yeah,
• 43:20
  Speaker 1: I'm fortunate in a fact that it's been a wake
• 43:23
  Speaker 1: up call and I was able to get rid of it.
• 43:24
  Speaker 1: But I know some people aren't as lucky and do
• 43:27
  Speaker 1: end up with those debts.
• 43:28
  Speaker 3: So yeah, Well, thank you for raising awareness and sharing
• 43:33
  Speaker 3: your story with us in our community, because yeah, as
• 43:36
  Speaker 3: you say, it's one of those things that you always
• 43:38
  Speaker 3: think that it's going to be someone else. You never
• 43:39
  Speaker 3: think that it's going to be you. But it just
• 43:41
  Speaker 3: goes to show how easy it is. And we're so
• 43:43
  Speaker 3: happy that you know, as hard as it was for
• 43:46
  Speaker 3: you at that time, that you're able to bounce back
• 43:48
  Speaker 3: and hopefully you can get that second property that you're
• 43:50
  Speaker 3: saving for, and that everything works out and people will yes.
• 43:56
  Speaker 3: I mean, look the way you're going, I can't see
• 43:58
  Speaker 3: how I could say no call.
• 43:59
  Speaker 4: To action for everybody listening, though, friends, check your credit
• 44:02
  Speaker 4: score every single year. If you lose your wallet, don't
• 44:05
  Speaker 4: just cancel your cards. Put a block on your credit
• 44:09
  Speaker 4: history to make sure that people can't apply for credit.
• 44:12
  Speaker 4: It is not hard to do. Quickly google it. But
• 44:14
  Speaker 4: we'll also make sure that there are links in the
• 44:16
  Speaker 4: show notes this week so that you can click through.
• 44:19
  Speaker 4: And we'll obviously follow up with some more content over
• 44:21
  Speaker 4: the next month or so of maybe a blog post
• 44:23
  Speaker 4: of what to do when you've lost your wallet, because
• 44:26
  Speaker 4: I think that people just don't think it's as serious
• 44:28
  Speaker 4: as it is. And that's really nice, because I think
• 44:31
  Speaker 4: people just assume that everybody's super kind, but that's not
• 44:35
  Speaker 4: the case, and not everybody is but money. Rice, thank
• 44:38
  Speaker 4: you so much for joining us. I am so grateful
• 44:41
  Speaker 4: for you sharing this with our community. As always, I
• 44:44
  Speaker 4: do think that is all we have time for today.
• 44:46
  Speaker 4: But just before we head off, we'd like to acknowledge
• 44:49
  Speaker 4: and pay respect to Australia's Aboriginal and Torres Straight Islander people's.
• 44:53
  Speaker 4: They're the traditional custodians of the lands, the waterways and
• 44:56
  Speaker 4: the skies all across Australia. We thank you for shar
• 45:00
  Speaker 4: and for caring for the land on which we are
• 45:02
  Speaker 4: able to learn. We pay a respect to elders past
• 45:05
  Speaker 4: and present, and we share our friendship and our kindness.
• 45:08
  Speaker 3: The advice sheared on shees on the money is generally
• 45:10
  Speaker 3: nature and does not consider your individual circumstances. Shees on
• 45:14
  Speaker 3: the money exists purely for educational purposes and should not
• 45:17
  Speaker 3: be relied upon to make an investment or a financial decision.
• 45:20
  Speaker 3: And we promise Victoria Divine is an authorized representative of
• 45:24
  Speaker 3: Australia Pacific Funds Management Proprietary Limited ABM three four one
• 45:28
  Speaker 3: three two four six three two five seven AFSL three
• 45:31
  Speaker 3: three nine one five one.
• 45:33
  Speaker 4: See you next week, guys,