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