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