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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr

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Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before

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Speaker 1: we get started on She's on the Money podcast, I

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Speaker 1: would like to acknowledge the traditional custodians of the land

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Speaker 1: of which this podcast is recorded on a wondery country,

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Speaker 1: acknowledging the elders, the ancestors and the next generation coming

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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing

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Speaker 1: and the storytelling of you to make a difference for

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Speaker 1: today and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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Speaker 3: She's on the Money, She's on the Money.

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Speaker 4: Hello, and welcome to She's on the Money the podcast

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Speaker 4: Millennials who want financial freedom. Welcome back to another shop

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Speaker 4: back Money Diary Monday, where we get to chat to

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Speaker 4: a beautiful community member to learn about them and also

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Speaker 4: more interestingly, their finances. Victoria, Yes, I have a really

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Speaker 4: interesting one for you this week. He ready, all right,

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Speaker 4: take it away, how dire says After watching my parents

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Speaker 4: go from being wealthy to losing their business, I got

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Speaker 4: a taste of both worlds growing up, experiencing the life

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Speaker 4: of the privileged and the not self privileged. My money

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Speaker 4: story has shaped my approach on money and in turn,

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Speaker 4: my own career goals. I'm now a senior case manager

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Speaker 4: in work cover, trying to climb my way up the

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Speaker 4: corporate ladder so I can reach those goals.

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Speaker 5: I love that money Diarist. Welcome to the show.

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Speaker 2: Thank you so much for having me, ladies. I'm so excited. Ah,

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Speaker 2: I'm excited to have you.

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Speaker 5: I mean mainly because we just did that insurance episode

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Speaker 5: and we've got one million and one work cover questions

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Speaker 5: coming through.

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Speaker 2: So maybe we can just.

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Speaker 5: Like Railroad this entire money diary and just do workover right.

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Speaker 4: Yes, absolutely, I'm all about it, all.

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Speaker 5: Right, Well, actually I'm not. So let's go on because

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Speaker 5: they're my favorite time of the week, and let's start

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Speaker 5: off this money diary like we do every single other one,

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Speaker 5: and that is asking you, money Diarist, Can you tell

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Speaker 5: us a little bit about your money story?

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Speaker 2: Yeah, sure, so I think growing up, Look, we were

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Speaker 2: quite privileged. And when I say we, I mean my

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Speaker 2: brother and I. My parents run a successful business in

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Speaker 2: the early two thousands. They were able to send us

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Speaker 2: to a private grammar school as a result, and we

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Speaker 2: were able to travel a lot and go on yearly,

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Speaker 2: I guess, holidays overseas and so growing up, we were very,

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Speaker 2: very lucky, very privileged kids, and I guess my money

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Speaker 2: story took a bit of a dive. I guess in

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Speaker 2: two thousand and nine when the GFC hit, our family

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Speaker 2: business did also take a dive as well, and so

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Speaker 2: that caused us to go a little bit backwards. And unfortunately,

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Speaker 2: my family did have to pull us out of private school,

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Speaker 2: and so that was during VCE as well, which was

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Speaker 2: super difficult for me.

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Speaker 1: No.

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Speaker 2: Yeah, so I remember as well, you know, we had

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Speaker 2: our debutantes in year eleven and I wasn't able to

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Speaker 2: do one because my mum couldn't afford to pay for it,

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Speaker 2: and so things like that just really did take a toll,

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Speaker 2: I guess on me and my brother growing up. So yeah,

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Speaker 2: I guess, you know, we really just took it. It

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Speaker 2: just took a dive, and from there I really just

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Speaker 2: had to learn the value of money. And I think,

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Speaker 2: looking back now on my money story, if my parents

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Speaker 2: never did have that dive in their business, would we

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Speaker 2: or would I be the person that I am today

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Speaker 2: when it comes to money, Because now my outlook is,

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Speaker 2: you know, just making sure that I'm budgeting correctly and

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Speaker 2: that I am really working hard for my money and

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Speaker 2: really knowing the value of my money as well. So

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Speaker 2: I think, all in all, after what had happened I

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Speaker 2: guess to us growing up, it's actually made me a

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Speaker 2: better person today. I would say, Oh.

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Speaker 5: That's such a beautiful view on it. Your parents okay, now,

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Speaker 5: yeah they are okay.

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Speaker 2: They're doing well, and yeah we're back on track, which

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Speaker 2: is awesome. So I mean, I just feel really lucky

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Speaker 2: to have, I guess, gone through such a privileged life

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Speaker 2: and then also to still have the roof over our

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Speaker 2: heads even when it took a downturn. So yeah, everything

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Speaker 2: is good so far.

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Speaker 5: Yeah wow, all right, Money diarists tell us what do

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Speaker 5: you currently do for work and how much money do

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Speaker 5: you earn?

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Speaker 2: So I am a senior case manager in insurance, specifically

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Speaker 2: work cover, and I earn an eighty seven thousand dollars

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Speaker 2: salary package. I am on track for another five grand

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Speaker 2: increase on my base salary just based on a recent

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Speaker 2: promotion I got, so that will go up again. And yeah,

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Speaker 2: my role is basically to support injured workers back to work,

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Speaker 2: So that's really my passion as well, very cool.

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Speaker 5: So tell us do you get paid monthly, weekly, fortnightly

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Speaker 5: and how much hits your out?

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Speaker 2: So I get paid fortnightly and what hits my account

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Speaker 2: is about twenty one and fifty net.

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Speaker 5: Very exciting. You're making good money for your age. I

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Speaker 5: love that. Next question is money, drost. What is your

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Speaker 5: big money goal?

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Speaker 2: So at the moment, my partner and I are building

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Speaker 2: our first house. Yeah, so my big money goal at

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Speaker 2: the moment is to get our house built, of course,

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Speaker 2: and I guess once that is built, which is scheduled

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Speaker 2: to be completed by December January at this stage January

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Speaker 2: twenty twenty three, that would be then from there it

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Speaker 2: would be really putting money towards our wedding. So that's

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Speaker 2: the next money hurdle.

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Speaker 5: Oh, excittly, have you booked the wedding or is it

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Speaker 5: a pipe dream at this point?

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Speaker 2: Victoria, it's a pipe dream at this point, if I'm

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Speaker 2: honest with you, or now I'm not engaged yet, but

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Speaker 2: one of one of those, but so joy. But we

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Speaker 2: definitely are talking about it, and I'm aware that it

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Speaker 2: is going to occur sometime in the next I don't know,

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Speaker 2: a couple of months, hopefully, so we are defeated.

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Speaker 5: So fine, I resonate my friend. Like, I knew my

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Speaker 5: partner had a ring for more than a year before

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Speaker 5: he proposed, and by the time he proposed, I found

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Speaker 5: out he'd had it in his wardrobe for two and

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Speaker 5: a half years. So like when you know it's coming,

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Speaker 5: you know it's coming, and you kind of just get

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Speaker 5: antsy because you're like, sir, this is a really big

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Speaker 5: financial commitment, and I want to start planning and I

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Speaker 5: want to start organizing. But is it kind of creepy

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Speaker 5: if I start burning my wedding before I'm engaged.

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Speaker 2: I don't know.

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Speaker 5: That was the question going through my head. But I

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Speaker 5: think you and I would get along like a house

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Speaker 5: on fire. Love it absolutely all right, Next money question,

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Speaker 5: do you currently have any investments?

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Speaker 2: So look, other than, as you say, Victoria superannuation, I

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Speaker 2: do have super get it, get it. But other than that,

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Speaker 2: I don't actually invest. And that's probably my biggest concern

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Speaker 2: about myself is that I haven't actually put my foot

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Speaker 2: in the door to invest in the stock market. So look,

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Speaker 2: other than yeah, as I said the super, I do not.

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Speaker 2: It is absolutely one of my goals, and I guess

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Speaker 2: That alluds to the next questions coming.

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Speaker 5: Up, which is how much debt do you have, if

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Speaker 5: you have any, and what is it for.

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Speaker 2: So at the moment that my debt is my home

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Speaker 2: loan of course, so paying a mortgage now we are building,

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Speaker 2: but you obviously pay a loan still whilst the house

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Speaker 2: is building. So I currently have a five hundred and

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Speaker 2: forty thousand dollar mortgage. That is my debt. Other than that,

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Speaker 2: I have hex stets. I did study before I went

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Speaker 2: into full time work, so I do have a hex

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Speaker 2: stet as well. And that's about it. I don't have

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Speaker 2: any personal debt. I've never pulled out any personal loans.

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Speaker 2: So I'm really proud of myself for that.

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Speaker 5: That is so good. I want to be really pervy.

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Speaker 5: You said you have a five hundred and forty thousand

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Speaker 5: dollar mortgage. How much does that cost you every fortnight?

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Speaker 2: So at the moment, our repayments are two and one

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Speaker 2: hundred eight months, so I would have to calculate that

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Speaker 2: Victoria that we have an offset account.

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Speaker 5: That's all right. It's nice to chat about it because

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Speaker 5: I think a lot of us in the community go,

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Speaker 5: oh wow, she has a mortgage, she's got it. All together.

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Speaker 5: But that does end up putting some serious financial strain

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Speaker 5: on being able to say for this future wedding that

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Speaker 5: we're planning one day and everything else you're doing, and

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Speaker 5: like the things that you're about to go through arguably

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Speaker 5: are really expensive. And I always like being a little

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Speaker 5: bit pervy and being like, well, how much does that

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Speaker 5: cost you? Because it does put on some financial strain

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Speaker 5: and to know that that's the amount. It's literally what

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Speaker 5: you earn every fortnight, right, so like half of your

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Speaker 5: wage is going towards your mortgage.

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Speaker 2: But do you split that with your partner? I was

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Speaker 2: just going to say, I do split that with my partner.

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Speaker 2: So my partner and I have put in half half,

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Speaker 2: so equal fifty percent for the house, and we did

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Speaker 2: put money aside for a twenty percent deposit as well,

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Speaker 2: so we're really proud of ourselves that we won't be

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Speaker 2: paying alami on our loans. So yeah, ye, I do

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Speaker 2: split it. I can't say it's all of my wage

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Speaker 2: of course.

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Speaker 5: All right, Well, I'm coming back to that question because

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Speaker 5: I want to know all about your house deposit and

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Speaker 5: how you got there, because twenty percent is an achievement

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Speaker 5: that not many of us make these days, especially with

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Speaker 5: housing prices the way they are. But we're going to

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Speaker 5: carry on.

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Speaker 2: Next question, do you use shop back? I do use

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Speaker 2: shop back. I have downloaded the extension and so I

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Speaker 2: do use it wherever I can when I online shop.

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Speaker 2: I did actually check before in preparation for this podcast,

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Speaker 2: and I've got twenty dollars.

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Speaker 5: I love that. Stop it just how much it's twenty dollars.

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Speaker 5: It's not a lot, but I have twenty dollars, so

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Speaker 5: that's staging money than you had from not using it,

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Speaker 5: So money you in money win. I love that you've

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Speaker 5: downloaded the extension because that's the only way it really

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Speaker 5: works for me. I mean, lots of people do lots

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Speaker 5: of things, but I hate the hurdle of having to

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Speaker 5: go on my phone and then like you know, shopping

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Speaker 5: through that.

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Speaker 2: I find it challenging.

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Speaker 5: The extension, I just click the button and it applies

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Speaker 5: to my cart that I've already put together, which is

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Speaker 5: a money win.

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Speaker 2: We love that for us asolutely.

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Speaker 5: All right, Next question, what is your best money habit?

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Speaker 2: Jess spoiler.

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Speaker 5: I think it might be saving haha.

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Speaker 2: Not at all. No, it is absolutely When my partner

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Speaker 2: and I decided to buy an build a house. We

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Speaker 2: set aside a goal of how much we want to save,

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Speaker 2: of course, so that we can achieve our twenty percent

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Speaker 2: deposit that is, And I stuck to my goal, and

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Speaker 2: I had X amount that I would put in each

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Speaker 2: savings account every fortnight when I was paid, And yeah,

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Speaker 2: I've just been really diligent in saving towards that goal,

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Speaker 2: and so absolutely it would be saving. If I have

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Speaker 2: a goal, I certainly will make sure that I achieve it,

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Speaker 2: and whatever it takes, I'll absolutely put that money aside.

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Speaker 2: So it's not percentage base that I portion everything out

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Speaker 2: into my savings, but I have a set amount that

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Speaker 2: I've worked out works for me and my goals. So yeah,

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Speaker 2: absolutely I love that.

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Speaker 5: And have you always been that way or is that

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Speaker 5: something that you've just learned?

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Speaker 3: See?

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Speaker 2: I think I learned that just through I guess what

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Speaker 2: I've seen from my family in terms of how they

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Speaker 2: stayed afloat after their business sort of went downhill. So

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Speaker 2: I really think I've just taken on that sort of

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Speaker 2: feedback from just my upbringing and you know, into my twenties,

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Speaker 2: definitely has been something that I've sort of been really

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Speaker 2: strong and really good at doing.

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Speaker 5: Air pig all right. To bring the mood down, what

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Speaker 5: is your worst money habit?

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Speaker 2: So I would say my worst money habit is I

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Speaker 2: have a tendency to not skimp out on food and

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Speaker 2: good food add good coffee. It's a vibe. I would

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Speaker 2: say that. Yeah, for me, health is number one. So

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Speaker 2: if I am going to buy, you know, good food,

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Speaker 2: I don't care how much it costs because I know

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Speaker 2: it's good for me and good for my body, and

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Speaker 2: I think that there's no price on health. So yeah,

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Speaker 2: that would be, I guess my bad money habit.

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Speaker 5: I don't think that's a bad money habit because let's

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Speaker 5: be honest, the more you care about your health, the

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Speaker 5: less likely you're going to have to spend money on

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Speaker 5: healthcare laiter down the track. So like, let's see this

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Speaker 5: as an investment in future us.

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Speaker 2: Yeah. Absolutely, I do want to say as well, Look,

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Speaker 2: I can be a little bit impulsive at times with

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Speaker 2: purchases for clothing, So I just want to put that

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Speaker 2: out there. That is definitely something I'm still working on.

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Speaker 2: If I see something I love, I really have to,

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Speaker 2: you know, reel myself back, and I guess make sure

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Speaker 2: that it does align with my values. And my budget.

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Speaker 2: So yeah, it's something I'm working on as well. But

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Speaker 2: I love clothes.

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Speaker 5: Relatable, very relatable. Now, last question before we go to

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Speaker 5: a quick break, what would you grade yourself if we

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Speaker 5: forced you to give yourself a money grade?

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Speaker 2: I would say, I want to give myself a bee.

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Speaker 2: The reason I say that is because I have wanted

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Speaker 2: to invest and I haven't. It's been something that I've

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Speaker 2: been listening to your podcast for quite literally three years,

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Speaker 2: and you know, Vial, you talk about it so much,

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Speaker 2: and I feel that, you know, I just haven't that

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Speaker 2: step in the right direction for me, and so that

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Speaker 2: would be the next big thing. If I could give

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Speaker 2: myself any higher grade, I would really want to make

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Speaker 2: sure that I'm investing before that happens. So yeah, I

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Speaker 2: want to know.

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Speaker 5: I feel like Jess. We've heard this from a few

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Speaker 5: money dirests recently. They've said, Look, I've listened to the

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Speaker 5: podcast for so long, and I think women in general

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Speaker 5: feel like they're not educated enough to take that next step.

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Speaker 5: Like we just want to know everything and we need

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Speaker 5: to know all the risks and what it looks like

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Speaker 5: and how it works. But I want to know what's

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Speaker 5: been stopping you from taking that step and on the converse,

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Speaker 5: what would help you take that step?

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Speaker 2: So I think I feel a lack of education in

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Speaker 2: this space, even though I've you know, quite literally have listened,

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Speaker 2: of course to this podcast and also tried to do

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Speaker 2: my own research, try to take feedback on from my

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Speaker 2: family that also invests, my partner invests. I have tried

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Speaker 2: to take on feedback, but I just feel that I

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Speaker 2: don't know, I'm scared. I think I'm scared to take

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Speaker 2: that next step. And I think it's just all about

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Speaker 2: putting yourself in the deep end and just and doing it.

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Speaker 2: And yeah, I just feel that I think it's it's

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Speaker 2: maybe quite apprehensive that I don't just put myself in

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Speaker 2: the deep end.

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Speaker 5: I love that. I feel like it's really relatable. But

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Speaker 5: I also love asking questions like that because I'm like, well,

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Speaker 5: what is stopping you? What would make you feel really

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Speaker 5: empowered to take that next step? Like what's missing from

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Speaker 5: this journey?

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Speaker 2: I would say, I need to just maybe do a

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Speaker 2: little bit more research in what I actually want to

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Speaker 2: invest in. And then I think I'm a type of

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Speaker 2: person that if I do put myself out there and

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Speaker 2: I do just take a leap of faith that I

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Speaker 2: know it will flow on from there. And so I

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Speaker 2: just feel that, Yeah, I just need to feel confident

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Speaker 2: in my decision. And then once I do reach that

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Speaker 2: confidence just putting myself out there, and I do think

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Speaker 2: I will feel empowered, and I do think that it

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Speaker 2: will be, you know, great for me. I just I

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Speaker 2: feel a little bit, I guess less educated at this stage.

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Speaker 5: Great feedback. Let's go to a quick break and after

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Speaker 5: I am going to hound you about how to save

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Speaker 5: a twenty percent deposit? All right, money, Doris.

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Speaker 4: I want to start at the start and ask you

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Speaker 4: about the contrast that you brought up in your original

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Speaker 4: email between living that more privileged life that you had,

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Speaker 4: you know, prior to the GFC and your parents' business

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Speaker 4: taking a little bit of a hit, and then the

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Speaker 4: life that you led afterwards. And you obviously said it

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Speaker 4: happened at a really pivotal time for you. You were

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Speaker 4: doing VCE or you know, a kind of later teenager,

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Speaker 4: which we all know is a really tough time to

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Speaker 4: just be a human in general, and then you're going

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Speaker 4: through a massive change at the same time. What changes

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Speaker 4: did you notice your parents making and you as well

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Speaker 4: when it came to your lifestyle.

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Speaker 5: What things did they give up?

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Speaker 4: Because I think right now we're heading towards a recession

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Speaker 4: and a lot of people are going to be looking

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Speaker 4: to make changes. So what kind of things did they

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Speaker 4: implement for you?

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Speaker 2: Yeah? Absolutely, look, of course, other than what I said,

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Speaker 2: I was pulled out of my private schooling, A lot

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Speaker 2: of the changes were I guess the lifestyle that we had.

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Speaker 2: The holidays did stop, and you know, I guess all

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Speaker 2: those luxuries that we did have when I was a teenager.

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Speaker 2: I guess I noticed that my parents were probably not

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Speaker 2: spending that much on food and groceries and going out

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Speaker 2: for dinners and things like that did stop when I

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Speaker 2: was younger. So I noticed that also, of course, my

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Speaker 2: family business had closed down, and so my parents, my

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Speaker 2: mum specifically had to find a new job, and so

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Speaker 2: that was also a big, I guess, pivotal moment in

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Speaker 2: all of this. And you know, I did see them

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Speaker 2: vicariously saving just to keep our family home and our

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Speaker 2: roof over our heads. So I guess, just from seeing

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Speaker 2: the changes in our household, then it sort of, I guess,

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Speaker 2: sparked a drive in me to make sure that when

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Speaker 2: I do start working, which I then I guess I

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Speaker 2: got my first job at fifteen, but I stopped working

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Speaker 2: through BC and then I started working again when I

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Speaker 2: was eighteen. Casually, I just wanted to make sure that

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Speaker 2: every dollar that I earned I was saving. And I

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Speaker 2: think I also just wanted to make sure that I

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Speaker 2: don't live a life struggling like I saw in my parents.

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Speaker 2: So it was just really important to me that I

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Speaker 2: just took on what I saw as a teenager and

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Speaker 2: just made sure that my twenties weren't going to be

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Speaker 2: like that.

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Speaker 4: For me, that makes a lot of sense. You said

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Speaker 4: it played a really big part in your money story.

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Speaker 4: Do you think that that is feeding a little bit

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Speaker 4: into your hesitation around investing because it's not something that

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Speaker 4: you can control. You know, you can save your paycheck

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Speaker 4: and you can do that really diligently, and you can

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Speaker 4: see your savings increase and it feels quite safe. Do

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Speaker 4: you think that that's partially why you are a little

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Speaker 4: bit hesitant.

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Speaker 2: Yeah, look, definitely, I mean I haven't taken that leap

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Speaker 2: of faith. I think part of the reason is because

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Speaker 2: I have. Yeah, I'm quite a diligent saver, and so

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Speaker 2: I don't really want to I guess portion my money

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Speaker 2: off into investing in a way because I want to

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Speaker 2: make sure that I'm seeing my savings grow, and portioning

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Speaker 2: that off into investing I think scares me a little

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Speaker 2: bit because that's my income that I put aside every fortnight.

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Speaker 2: So I guess that definitely does play a role.

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Speaker 4: Yeah, that's really interesting, and there's no you know, there's

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Speaker 4: no right or wrong we say all the time. So

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Speaker 4: I think it's good that you can see where you're

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Speaker 4: coming from. And you know, you said before that there

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Speaker 4: were steps you wanted to take before you got there,

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Speaker 4: and I think it's really nice that you have kind

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Speaker 4: of a clear path and understanding of where you want

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Speaker 4: to be, which is awesome to.

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Speaker 5: Jump in about the business. Often when parents are running

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Speaker 5: a business, they hide a lot of, you know, what's

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Speaker 5: going on, and maybe they're not so good things from

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Speaker 5: their kids, right, Like, no one wants to come home

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Speaker 5: and say, hey, kids, we're gonna have to take you

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Speaker 5: out of private schooling. But what were your first points

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Speaker 5: of I guess realization that maybe the family business wasn't

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Speaker 5: doing as well And how did that impact you? Because

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Speaker 5: I'm sure that apart from like winding back financially, that

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Speaker 5: would have been a very stressful period of time to

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Speaker 5: go through, right.

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Speaker 2: Yeah, definitely. So it was really hard seeing mum come

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Speaker 2: home and just seeing her so down, and you know,

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Speaker 2: seeing her breakdown to dad as well. I think that was,

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Speaker 2: you know, a really big indication. And as a young child,

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Speaker 2: you know, seeing that in your parents is so difficult,

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Speaker 2: and that sort of made me question, you know, what

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Speaker 2: was sort of happening in the background, and I guess

401
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Speaker 2: from there it was just seeing, you know, or hearing

402
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Speaker 2: my family talk about finances more openly than I guess

403
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Speaker 2: they did beforehand as well, and I think that they

404
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Speaker 2: definitely tried to shelter my brother and I from I

405
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Speaker 2: guess the hardships that they were facing, but you know,

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Speaker 2: you sort of can't forever unfortunately, and those were the

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Speaker 2: sort of indicators for me where you know, I realized

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Speaker 2: that this was really difficult and this was a really

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Speaker 2: difficult time for my family.

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Speaker 5: It's really interesting because parents want to protect their kids, right,

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Speaker 5: so they never want to offload or talk about it

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Speaker 5: too much. So often when you hear situations like this

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Speaker 5: unfolding in families, the kids are often like, oh, it

414
00:20:13,000 --> 00:20:15,239
Speaker 5: took us by storm, but you might have, you know,

415
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Speaker 5: in the background, been like, oh, this actually was a

416
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Speaker 5: few years coming because we just didn't know. So I

417
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Speaker 5: find it just genuinely so interesting. But Jess, you have

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Speaker 5: a question to pivot the conversation from here, I do.

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Speaker 4: I want to get really pervy on the work cover situation, because,

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Speaker 4: like Victoria said, it's really front of mine for us.

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Speaker 4: We've spoken to a few dirests recently who have either

422
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Speaker 4: been through claims or you know, had had things happen

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Speaker 4: and you know, they had maybe not ended up in

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Speaker 4: the ideal situation, and I think it's really interesting because

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Speaker 4: you're kind of on the other side of that, and

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Speaker 4: I want to pick your brain starting with what is

427
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Speaker 4: your experience like dealing with companies when it comes to

428
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Speaker 4: insurance claims, because in my mind, it's kind of two

429
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Speaker 4: sides of the story. Right There's the person who gets injured,

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Speaker 4: and obviously they are trying to get the best resolution

431
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Speaker 4: for themselves to compensate for whatever they've gone through. But

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Speaker 4: then on the flip side, we're often seeing in our

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Speaker 4: community companies not really wanting to necessarily do the right thing.

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Speaker 4: And I don't know if that's just the minority that

435
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Speaker 4: we're hearing about, or you know, is it a little

436
00:21:17,000 --> 00:21:21,160
Speaker 4: bit trickier nowadays to get yourself looked after if something

437
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Speaker 4: does go wrong.

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Speaker 1: Yeah.

439
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Speaker 2: Absolutely, Look, I think it's when we talk about I

440
00:21:26,880 --> 00:21:31,919
Speaker 2: guess that aspect of work cover and employers specifically supporting

441
00:21:31,960 --> 00:21:36,000
Speaker 2: their injured workers. I guess from what we see in

442
00:21:36,080 --> 00:21:38,639
Speaker 2: terms of like a pattern, it really does depend on

443
00:21:38,680 --> 00:21:41,640
Speaker 2: the size of the employer. So I guess I want

444
00:21:41,640 --> 00:21:45,719
Speaker 2: to highlight that smaller employers may not have experience in

445
00:21:45,760 --> 00:21:47,960
Speaker 2: that work cover space, and so for them it's a

446
00:21:47,960 --> 00:21:52,639
Speaker 2: bit daunting when a person gets injured at their workplace,

447
00:21:52,760 --> 00:21:56,560
Speaker 2: a staff member, and then they are lodging a WorkCover claims.

448
00:21:56,600 --> 00:21:59,080
Speaker 2: So I think when it is daunting for them, they

449
00:21:59,160 --> 00:22:02,960
Speaker 2: often ask more questions and potentially question the system a

450
00:22:02,960 --> 00:22:06,280
Speaker 2: little bit more. Whereas if you have a larger employer,

451
00:22:06,760 --> 00:22:10,119
Speaker 2: for example, I deal with mainly large employers, they have

452
00:22:10,200 --> 00:22:13,520
Speaker 2: a designated return to work system. So therefore they've got

453
00:22:13,520 --> 00:22:16,480
Speaker 2: people working there that know the legislation, that know the

454
00:22:16,560 --> 00:22:20,160
Speaker 2: system that don't I guess question their workers because they

455
00:22:20,280 --> 00:22:23,800
Speaker 2: understand the injuries that they can sustain and the nature

456
00:22:23,840 --> 00:22:27,200
Speaker 2: of them. So I guess it really does come down

457
00:22:27,240 --> 00:22:31,159
Speaker 2: to the level of experience that the employer has in

458
00:22:31,200 --> 00:22:34,800
Speaker 2: the workhover space. So from what we see, it varies

459
00:22:34,920 --> 00:22:36,600
Speaker 2: depending on the size of the employer.

460
00:22:36,760 --> 00:22:39,159
Speaker 5: Do you think trust comes into it, Because I know

461
00:22:39,320 --> 00:22:43,159
Speaker 5: I'm a teeny tiny employer, right, And if Jess injured

462
00:22:43,200 --> 00:22:47,120
Speaker 5: herself knock on wood at work, and something happened and

463
00:22:47,160 --> 00:22:49,200
Speaker 5: she said I can't return, like I don't know why,

464
00:22:49,200 --> 00:22:51,560
Speaker 5: I wouldn't believe her, like I don't know why, I'd

465
00:22:51,600 --> 00:22:53,879
Speaker 5: be questioning the system. I'd be trying really hard to

466
00:22:53,920 --> 00:22:57,280
Speaker 5: go through that process. I would ask a lot of questions,

467
00:22:57,320 --> 00:22:59,480
Speaker 5: but it wouldn't be like, oh, is that fair, is

468
00:22:59,480 --> 00:22:59,880
Speaker 5: that right?

469
00:23:00,080 --> 00:23:00,679
Speaker 2: Or whatever it is?

470
00:23:00,680 --> 00:23:03,160
Speaker 5: It it'd be more is just getting what she needs?

471
00:23:03,280 --> 00:23:05,439
Speaker 5: Do you find that that is often a take or

472
00:23:05,560 --> 00:23:08,160
Speaker 5: is it a trust issue in organizations?

473
00:23:08,440 --> 00:23:11,280
Speaker 2: Yeah, I think trust plays a large role in that

474
00:23:11,560 --> 00:23:16,200
Speaker 2: for sure. I'd say that the relationship that the employer

475
00:23:16,320 --> 00:23:19,359
Speaker 2: has with the injured worker is huge, and that is

476
00:23:19,400 --> 00:23:22,320
Speaker 2: a large, I guess, pivotal part of the process and

477
00:23:22,359 --> 00:23:25,440
Speaker 2: making sure that the worker is supported back to work

478
00:23:25,480 --> 00:23:29,199
Speaker 2: and back to health. So I would say that is

479
00:23:29,240 --> 00:23:32,480
Speaker 2: also a large barrier in I guess supporting our injured

480
00:23:32,520 --> 00:23:36,520
Speaker 2: workers back is that relationship that they've built with their employer.

481
00:23:37,119 --> 00:23:40,920
Speaker 2: So definitely, as you've said, Jess, if she were injured,

482
00:23:41,119 --> 00:23:43,760
Speaker 2: you knowing Jess so well, of course you would understand,

483
00:23:43,760 --> 00:23:47,040
Speaker 2: I guess the nature of her injury and probably where

484
00:23:47,080 --> 00:23:49,719
Speaker 2: she's at from a personal space as well. And so

485
00:23:49,840 --> 00:23:53,479
Speaker 2: I would say that having that relationship with your staff

486
00:23:53,520 --> 00:23:56,960
Speaker 2: members is so important because it definitely brings better outcomes

487
00:23:57,000 --> 00:23:59,080
Speaker 2: when it comes to supporting them back and then wanting

488
00:23:59,119 --> 00:24:00,560
Speaker 2: to return as well to work.

489
00:24:00,880 --> 00:24:04,119
Speaker 5: And what happens if let's say Jess does get injured

490
00:24:04,160 --> 00:24:06,359
Speaker 5: at work, right, she has a good relationship with me,

491
00:24:06,480 --> 00:24:09,040
Speaker 5: but what if she doesn't like? What do I, as

492
00:24:09,080 --> 00:24:12,080
Speaker 5: an employee need to look out for to make sure

493
00:24:12,080 --> 00:24:14,600
Speaker 5: that I'm in the best possible position. Because as someone

494
00:24:14,600 --> 00:24:18,520
Speaker 5: who also deals with insurance, sometimes it feels like your

495
00:24:18,520 --> 00:24:21,760
Speaker 5: employer isn't working with you, they're working against you. What

496
00:24:21,840 --> 00:24:24,800
Speaker 5: are the things that we can do as employed people?

497
00:24:24,880 --> 00:24:26,399
Speaker 5: And I'm going to ask the same as a business

498
00:24:26,400 --> 00:24:28,600
Speaker 5: owner in a hot second, but what are the things

499
00:24:28,600 --> 00:24:31,159
Speaker 5: that we can do as individuals to protect ourselves and

500
00:24:31,200 --> 00:24:33,800
Speaker 5: make sure that we're in the best possible position should

501
00:24:33,920 --> 00:24:35,439
Speaker 5: unfortunately something happen.

502
00:24:36,119 --> 00:24:39,399
Speaker 2: Yeah, for sure. I mean, look, when you are injured

503
00:24:39,400 --> 00:24:41,720
Speaker 2: at work and you don't have the best relationship with

504
00:24:41,760 --> 00:24:43,919
Speaker 2: your employer, it is important to know that there are

505
00:24:43,960 --> 00:24:46,960
Speaker 2: supports out there. I mean, you may go through solicitors

506
00:24:46,960 --> 00:24:48,959
Speaker 2: if that does help you, if you feel that that

507
00:24:49,040 --> 00:24:51,679
Speaker 2: might be I guess easier for you in terms of

508
00:24:51,680 --> 00:24:54,600
Speaker 2: going through those processes. You may also go through a

509
00:24:54,720 --> 00:24:58,120
Speaker 2: union representatives if you do have a union rep aligned

510
00:24:58,119 --> 00:25:01,520
Speaker 2: to your company or extra all of course, so I

511
00:25:01,560 --> 00:25:04,200
Speaker 2: think making sure that you know the resources out there.

512
00:25:04,400 --> 00:25:06,320
Speaker 2: I also just want to say that I think there

513
00:25:06,359 --> 00:25:09,560
Speaker 2: is a huge stigma against insurance companies. And you know,

514
00:25:10,040 --> 00:25:12,400
Speaker 2: as a person who is injured at work, you will

515
00:25:12,440 --> 00:25:15,399
Speaker 2: be assigned a case manager from the insurance company. So

516
00:25:15,440 --> 00:25:17,679
Speaker 2: it's really important that you know your case manager has

517
00:25:17,720 --> 00:25:20,560
Speaker 2: your best interest at heart. For me, personally, I really

518
00:25:20,560 --> 00:25:22,720
Speaker 2: do care about my injured workers and I make sure

519
00:25:22,760 --> 00:25:24,879
Speaker 2: that I build those relationships with them early on in

520
00:25:24,920 --> 00:25:27,840
Speaker 2: the piece. So for those people that maybe don't have

521
00:25:27,960 --> 00:25:31,840
Speaker 2: the best relationship with their employers, I build that relationship

522
00:25:31,920 --> 00:25:34,640
Speaker 2: and trust with them so they know that I'm here

523
00:25:34,680 --> 00:25:37,280
Speaker 2: for them if they need to fall back on someone.

524
00:25:37,480 --> 00:25:39,680
Speaker 4: If you get a case manager, it's awesome that you're

525
00:25:39,720 --> 00:25:42,600
Speaker 4: super passionate, but I am sure like any industry, there

526
00:25:42,640 --> 00:25:44,720
Speaker 4: are also people who are just like, I've got to

527
00:25:44,720 --> 00:25:46,600
Speaker 4: get through my work. I've got to get through these people.

528
00:25:46,960 --> 00:25:49,119
Speaker 4: If you're assigned a case manager and you feel like

529
00:25:49,400 --> 00:25:52,679
Speaker 4: they're maybe not listening to you or you know, not

530
00:25:52,760 --> 00:25:56,000
Speaker 4: taking things you say seriously, does an injured person have

531
00:25:56,119 --> 00:25:59,199
Speaker 4: the option of requesting a different case manager.

532
00:25:59,280 --> 00:26:02,720
Speaker 2: They definitely, and it certainly does happen in the industry.

533
00:26:02,880 --> 00:26:05,000
Speaker 2: So if they wanted to change a case manager, they

534
00:26:05,000 --> 00:26:08,720
Speaker 2: could request it through the insurance company and they will

535
00:26:08,760 --> 00:26:12,439
Speaker 2: then be assigned to the next best case manager for them. Obviously,

536
00:26:12,840 --> 00:26:15,199
Speaker 2: we don't want it to lead to that path, but

537
00:26:15,720 --> 00:26:18,200
Speaker 2: it is an option because we want to make sure

538
00:26:18,240 --> 00:26:21,280
Speaker 2: that the relationship we're building with our injured workers is

539
00:26:21,320 --> 00:26:24,080
Speaker 2: also a really strong bond so that we can support

540
00:26:24,119 --> 00:26:26,359
Speaker 2: them as best as possible because we are dealing with

541
00:26:26,400 --> 00:26:29,720
Speaker 2: them directly and although they're still dealing with their employers

542
00:26:29,760 --> 00:26:32,000
Speaker 2: in the background. Often people that are injured at work

543
00:26:32,000 --> 00:26:34,120
Speaker 2: will come straight to us. Yeah, and they do want

544
00:26:34,200 --> 00:26:36,720
Speaker 2: us to sort of be the forefront of supporting them.

545
00:26:36,960 --> 00:26:40,000
Speaker 2: So it's super super important that you know, we're building

546
00:26:40,040 --> 00:26:43,199
Speaker 2: those relationships with them and making sure that they're happy

547
00:26:43,359 --> 00:26:45,000
Speaker 2: and that they are feeling supported.

548
00:26:45,080 --> 00:26:48,199
Speaker 5: Ultimately, I also feel like in all my experience in

549
00:26:48,240 --> 00:26:51,640
Speaker 5: the insurance space, I actually haven't met a case worker

550
00:26:51,840 --> 00:26:54,760
Speaker 5: that isn't passionate about their role. Like I mean, insurance

551
00:26:54,800 --> 00:26:57,240
Speaker 5: can be very cut and dry, and don't get me wrong,

552
00:26:57,240 --> 00:26:59,480
Speaker 5: I've met a number of underwriters that have come head

553
00:26:59,480 --> 00:27:02,000
Speaker 5: to head with However, I think once it gets to

554
00:27:02,040 --> 00:27:04,320
Speaker 5: the point of claim, whether you're dealing with a BDM

555
00:27:04,440 --> 00:27:07,320
Speaker 5: or directly with a case manager and your client. Given

556
00:27:07,480 --> 00:27:10,120
Speaker 5: I also have a little bit of experience in that space,

557
00:27:10,200 --> 00:27:13,280
Speaker 5: I just don't think I've met people who aren't compassionate

558
00:27:13,320 --> 00:27:15,720
Speaker 5: and excited about it because they genuinely want to be

559
00:27:15,800 --> 00:27:18,040
Speaker 5: there to put clients in the best possible position. So

560
00:27:18,080 --> 00:27:21,240
Speaker 5: I want to say that only because obviously we're asking

561
00:27:21,320 --> 00:27:23,119
Speaker 5: questions that go, oh, if you want to change, is

562
00:27:23,160 --> 00:27:26,120
Speaker 5: that fine? Like usually the case manager you get assigned

563
00:27:26,359 --> 00:27:28,560
Speaker 5: is absolutely beautiful and we'll do the right thing for you,

564
00:27:28,600 --> 00:27:31,360
Speaker 5: but it's important to know where you stand. I think

565
00:27:31,400 --> 00:27:33,480
Speaker 5: on the flip side as well, the other piece of

566
00:27:33,520 --> 00:27:36,560
Speaker 5: advice that I always give to my clients, and you know,

567
00:27:36,600 --> 00:27:40,040
Speaker 5: to anyone I speak to about insurance is document document, document,

568
00:27:40,080 --> 00:27:42,920
Speaker 5: because even if it's just like the times and the dates,

569
00:27:43,080 --> 00:27:45,960
Speaker 5: it will really play your role further down the track

570
00:27:46,000 --> 00:27:49,879
Speaker 5: if your employer isn't as forthcoming with information or says

571
00:27:49,880 --> 00:27:53,040
Speaker 5: maybe it didn't happen, or puts you in a compromising position,

572
00:27:53,080 --> 00:27:56,119
Speaker 5: and it can really help your caseworker as well understand

573
00:27:56,160 --> 00:27:58,320
Speaker 5: what's going on and how you're feeling and what we

574
00:27:58,400 --> 00:28:01,760
Speaker 5: need to do next. From my perspective, get as much

575
00:28:01,760 --> 00:28:04,040
Speaker 5: in writing as you possibly can, even if it's just

576
00:28:04,119 --> 00:28:06,120
Speaker 5: a message where you like, hey, Jess, thanks for that

577
00:28:06,160 --> 00:28:09,360
Speaker 5: meeting just before just confirming a B C and D.

578
00:28:09,840 --> 00:28:12,240
Speaker 5: Thanks so much so I just think that that can

579
00:28:12,280 --> 00:28:16,000
Speaker 5: be really powerful in the circumstance like this, especially when

580
00:28:16,200 --> 00:28:18,919
Speaker 5: there's not a HR department or there's not you know,

581
00:28:19,000 --> 00:28:21,040
Speaker 5: someone that's going to help you with your back to work,

582
00:28:21,359 --> 00:28:23,159
Speaker 5: Like Jess, if you ever get injured to work, you

583
00:28:23,160 --> 00:28:24,080
Speaker 5: probably should do that to me.

584
00:28:24,160 --> 00:28:25,359
Speaker 4: And we're texting you get it all.

585
00:28:25,359 --> 00:28:29,399
Speaker 2: I'm writing, please don't do that to me, test me.

586
00:28:29,800 --> 00:28:32,280
Speaker 5: But on that, my friend, I think this is the

587
00:28:32,280 --> 00:28:33,359
Speaker 5: perfect place to leave this.

588
00:28:33,480 --> 00:28:34,680
Speaker 2: Thank you so much.

589
00:28:34,480 --> 00:28:36,840
Speaker 5: For sharing some of your money story and some information

590
00:28:36,880 --> 00:28:39,200
Speaker 5: about work cover and having a general chat with us.

591
00:28:39,240 --> 00:28:40,320
Speaker 5: I've really enjoyed today.

592
00:28:40,440 --> 00:28:42,400
Speaker 2: Thank you so much for having me, guys.

593
00:28:42,280 --> 00:28:44,640
Speaker 5: Oh my gosh, no, we love it. Thank you for coming.

594
00:28:44,880 --> 00:28:45,240
Speaker 2: Jess.

595
00:28:45,320 --> 00:28:47,600
Speaker 5: Now it is time. Can you please wrap the boring

596
00:28:47,640 --> 00:28:48,600
Speaker 5: but important stuff?

597
00:28:48,640 --> 00:28:51,280
Speaker 4: Of course, don't forget the advice shed on. She's on

598
00:28:51,320 --> 00:28:53,640
Speaker 4: the Money is generally nature and does not consider your

599
00:28:53,640 --> 00:28:57,360
Speaker 4: individual circumstances. She's on the money exists purely for educational

600
00:28:57,360 --> 00:28:59,560
Speaker 4: purposes and should not be relied upon to make an

601
00:28:59,560 --> 00:29:03,320
Speaker 4: investment or financial decision. And we promise Victoria divine and

602
00:29:03,400 --> 00:29:06,520
Speaker 4: She's on the Money are authorized representatives of Infocused Securities

603
00:29:06,560 --> 00:29:10,320
Speaker 4: Australia Proprietary Limited a BN four seven oh nine seven

604
00:29:10,440 --> 00:29:13,040
Speaker 4: seven nine seven O four nine AFS L two three

605
00:29:13,080 --> 00:29:14,200
Speaker 4: six five two three.

606
00:29:14,360 --> 00:29:15,280
Speaker 5: See you on Wednesday.

607
00:29:15,320 --> 00:29:15,680
Speaker 3: Guys.

608
00:29:15,680 --> 00:29:17,560
Speaker 5: Bye,