Hello, my name's Santasha Nabananga Bamblet. I'm a proud or
the Order Kerni Whaltbury 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.
Let's get into it.
She's on the Money, She's on the Money. Hello, and welcome to She's on the Money the podcast what us that makes personal finance fun, especially on Fridays. It's our favorite day of the week because we get our very small team together and we celebrate you the incredible She's on the Money community. It's just agreed. She's back and
she's sharing our favorite money wins. Beck, you're here and you've got a number of broke tips to share with us, which I know you've already got prepared on your phone.
I do you do?
And we are going to be helping to answer our money dilemma, which this week is all about how to research good investments and something that you slid into our dms about what you should do when your ex boss won't pay the super they owe you.
We're going to war.
Were right, We right back, Dawn, But before we get there, guys, how were your week?
My week was good.
I won't shut up to anybody who listened about the fact that my sister in lawge just had our second baby.
Ye I'm like, the first thing I asked you when you got here it was how's Beck?
How's the baby? Have you got more photos? So exciting?
So I feel like we're just like loving had and like doing the fun thing where you know, when there's already one kid, you have to be really careful not to just shift all the attention to the new baby, because you.
Know it's already a big shift for them.
Mummy, he's doing really well. So my other nephew. For anyone listening, is he's just turned to. They were born six days apart, well two years and six days. Yeah, so he's just turned to. He's doing really well. Although we did try and get a photo of them together. I was designated Instagram mum obviously, and so we tried to het a photo of them together for the announcement
for them to post on just Facebook and stuff. The ordeal that that was because they wanted to have you know, Spency holding his little brother.
But then he didn't want to hold his little brother.
He was too excited because they were balloons because it was his birthday.
It was just a balloon out of him. Put the baby in.
It was like it was a whole thing. But it was very key. He's doing really well.
There's this really great photo one of my girlfriends has of her two kids together, you know her, and it's of her two year old holding their baby. But it looks like the two year olds kissing the baby on the forehead and it's so sweet that but he's usually licking the yogurt dog.
That's a hack that actually is Maybe I should try where's the blob of yogurt on the newborn's head and the baby's like, yeah, my god, that's hilarious, so cute.
Yeah, maybe that, or you could put like a cocoa pop or something on top of the I.
Don't know, the doll of ice cream whatever to get the photo. It's a sweet tree. But they did, in fact get the photo. And that's that's all that matters. You just need one to that thing. Can I talk about five hundred and we got one?
Oh my goodness, but that is so new babies, it is. It doesn't last long enough, like people tell you, you go so quickly, and like the fact that I now have a toddler is insane to me.
Yes, should be illegal, he said, Boy, I hate it. I hate it. Here, how's your week being?
Really nice week? Really nice week. I'm obsessed with baking bread, you guys. I'm literally sitting here thinking about, like I've got to get the bread rising as.
Soon as we finished.
In the process of baking bread, are we doing like homemade sourdow? Do we have a starter? Like what kind of slippery slope when it comes to baking? The thing is with sodo First of all, so controversial opinion.
It hurts, It hurts to eat it, and I don't like it. But also hot tap like critchy up the top of your mouth. Respectfully, I disagree, but.
That's like wow, like steaks, Yeah, she wouldn't need a steak knife to cut my bread.
You shouldn't.
And so I'm I and also you need like a living being, a sentient off human, and your.
She didn't grow up on the wonder white like we did. No, okay, just babies here.
I can see your eys. You've maybe had a wonder while or two in your time, but.
You can't have a fairy bread on any other bread, no exact illegal. Oh yeah, absolutely imagine going up.
Yeah, but I really am just doing like loaves of white bread. I'm trying to get the perfect loaf, just like your bakery bread. You know when you go in this like in that that clear packaging, it's like got blue and white.
The loaf.
The loaf just wants to be a blockloaf, queen.
That's all I want in my life.
And that's and it literally is like I always said. Last week was like maybe two dollars a loaf.
This on sixty cents alone.
Crazy, that is so good, plate foul this time, like my favorite bread if we're buying it at the supermarket, like I wish I could be like, oh, yes, it's this beautiful pumpkin sour from wood Frog Bakery, like we do buy that sometimes, mainly for my husband. So it's the block loaf, the white block loaf. From Baker's Delight. Give me a block loaf any day of the week. The whiter the bread the better, like the softer the
read the better. Absolutely nothing like slash bread. You work at Baker's Delight and can teach us how to make a block loaf. You slide into our d ms.
And also the cheese roll. I love that cheese.
Oh ye good yet edge you might yeah, okay, I think the next one will be puff pastry.
You know it's a thirteen hour process. But anyway, as a sorry for another time, I know.
We don't have time for this right now.
Yeah that that always is better actually, even the homemade ones that.
You're making your own bread. Yeah, that's so wow. I sound so boring. I promise I'm sorry for it. I tell about my toddler.
Yeah.
So it's been like a gorgeous, wholesome week. I love that. What about you?
Oh my goodness, it has been a circus. What have I done this week? I've just done a lot, like just work, stuff like Zella stuff, Zella stuff, Zella stuff. There's just so many like in the best possible way, first home buyers. I think that there's been an increase in interest in people getting into their first time homes after the interest rate cut, which is obviously really exciting. But now because it's what like the twenty eighth of March, all of the banks have now passed on the interest
rate cut. So that took a little bit from when the Reserve Bank like told everyone, oh, we're cutting the interest rates, like, it took a bit for the banks to actually pass that on to consumers. And now we are able as brokers to write those loans, which is really cool.
But it's just a lot busier at work, so.
I'm spending a lot of time in the office. I love our office though. The vibes are high and the coffee is really good, so gorgeous out of ten. Also, Alisha, who's on our team, she brought in. She's the one that has the EMU symblings that I told you about last week. Yes, she brought in the ice maker that we used to have at our old office. So now we have ice maker in our office for the crispiest of crispy cokes.
In the afternoon. Oh yeah, do you know what? I want so bad?
And I'm trying to resist because all the after payday sails are out.
I really want a ninja slush year. This is about you.
I'm trying to like see if there's going to be like a twenty percent cash back or something.
Yeah, yeah, yeah, yeah, but yes, what are you going to make with a ninja slushy?
PEPs like, oh my god, frozen PEPSI Max just every day, every day I feel like it would be really good for like little watermelon mint drinks or.
Like a cute lemons.
I can never pronounce it scorppino, like oh yeah, yeah, yeah yeah, nice, Like running on my loop. I'm checking like every day the cash back platforms.
To see I'm obsessed.
I hate to do this to Jessica as well, because I have this is probably one of the boogiest purchases they ever made. It's not even designer, but I have at my house a Nugget ice maker.
Nugget ice Maker.
So the teeny tiny little ice young Kit and I fell in love with it when we were in the US and where were we Where was it? Chick file A They had Snugget and I was like, I need this, Like how.
Do I get this? And that was the slipperiest of slippery slopes.
Yeah, it turns out you can't get nugget ice in Australia unless it's commercial. So when I say bougie purchase, it's because I spent so much money on this, I would say ADHD hyperfixation. It was all I thought about, it was all I googled. I bought a nugget ice maker from the US. Okay, okay, okay, I had it shipped to Australia. I don't actually want to ever admit to anyone how much money I spent on that, because it is it's not. Okay, Jessica, was it worth it?
I would absolutely, yeah, thank you, thank you. I just needed that validation. I also had to buy like one of those power converters because it's an American machine and they work on what is it, one hundred and ten volts. We are two twenty, so it's like a full power converter. It's not just like one of those things that goes into the wall. It's a box like and it was wow,
that is dedicated. Yeah. So we have a nugget ice maker at my house and every time jess comes to my house, she brings her drink poddle and fills it up with nugget ice, and like the second she gets to my house, I'm like, Nuggi ice coke, and like we have nugget ice coat. It's like a thing for us. Right, you can now get a nugget ice makers in Australia. You can now you can Now you could have a nugget ice maker at your house.
Oh well, now it's like which one do I buy a slash maker on a nugget ice maker.
But that's why I like, literally when just says, oh, there's a slushy maker, I'm like, I'm actually not allowed that because I actually spent my entire budget for the rest of ever.
On kitchen appliances. On an icemaker.
I actually ye knew, like what is it like the spaghetti utensil?
But I'm not going to buy one.
You don't deserve your kitchen story, Victoria, you have an ice maker?
Yeah, not allowed anyway.
So that's where we're at. Jessica, would you light a five star review? I certainly would feel like it's going to bring the mood up. So this week we have a five star review from Tea So just love, love, love The girls make personal finance, business and property just so digestible and interesting. In the last eight months of listening. I've binged almost every single episode and look forward to my drive to work knowing I'll be listening to them.
The Jess and Beck always bring a unique perspective to each dilemma and topic, as it's just so refreshing to have these quote boring or sometimes complex topics discussed in an accessible way that normalizes the conversation of money and finances. It's enabled me to be more transparent with my partner, my friends, and my family, and I feel like I am in the healthiest financial position I've ever been in.
Oh so cute. The fact that.
Someone said I'm in the healthiest financial position I've ever been in. Yeah, and I'm so happy we can keep you company on your drive to work is low key really cute.
It's not to think about where people listen, like if I can get where I listen to things in my headphones or like in the car. It's like people are probably like wearing some mon holes right now and they're doing are there.
And it's like, I don't know, I feel really lucky because it's such an intimate form of media to consume, because like you're not usually putting a podcast on in the background, like, oh, you're not usually putting a podcast on to like watch maths and your husband's sitting on the couch next to you. You're usually doing it on your own, your own in the car, or you're on your own doing the dishes. As you said, yess And I just I love that it's just as us.
You're mere.
Maybe yeah, Jessic Carr, you've fully engrossed in the Facebook.
Group this week.
Other highlights, Oh righty, So, first of this week, I've got the money in from Julia, who said she paid off her personal loan after sixteen years of constantly borrowing more. Wow, she's committed to living within her means and she paid it off a few months early. She's so proud of herself and can't wait to enjoy more financial freedom and building up her emergency and savings funds.
Sixteen years that would be so good.
That's one of those times where you genuinely deserve someone to jump out of a wall or cape, cupboard cake like with balloons and streamers and a champagne.
Seriously, why I say well done, Julia. I feel like it must have been a long slog, but we're so.
I'm so excited for you because, like it's only up from.
Here, exactly right. Next, I've got money in from Piarege, who said money win. My daughter turned three on the weekend and all she wanted was a rainbow cake. My mom suggested the home brand cake mix, which is a dollar a packet, and then you know, doing a little sprucing up of it if you will. The cake ended up costing ten dollars out of pocket total for the cake mix, butter, icing, sugar, etcetera. And the rest of it was in her pantry. Normally she'd spend between sixty
and one hundred dollars on a birthday cake. An absolute winner. And she put a really cute little picture of this.
Beautiful lady bakery. It looks like very good.
I have ten dollars, very nice, absolute money win. Next, I've got a money in from Kerry, who said she did her shopping and came out to the car and found that someone hadn't bothered to take their trolley back.
The worst kind of people. But I had money and it didn't it. She took it back. She got herself an extra door.
I don't know if I will ever be in a money mind frame where I could just leave that point at what point are you so rich that you just go I don't want to take my trolley back and get my gold coin back.
Never, I say, I just I'm not there yet. Maybe I'm just not peaked. But it's also just kind of you just put it back. It's not that high. I'm judging you me too. I'm sorry.
I'm judging you if you're not putting your trolley back, if you haven't got a good reason. But if you're just lazy, no, I'm judging ye, not good at all, judging you hard.
Bye. Agree.
Next, I've got a money win from Nicole, who said she followed Back's advice from Friday Drinks a couple of.
Weeks ago, which one she wasn't driving. In fifth.
Want advice, she replaced her shower head that had been leaking, and it turned out it had a massive crack, not just a leak. Luckily, Aldie had a plumbing sale. She got a new shower head, pipe, wrench and plumbing tape from Bunnings and it was less than sixty dollars.
Yeah what, I love that?
Incredible with the goods mid middle plumbing sales of course, plumbing sale. Are you going to the snowback you can get sky gear. Oh this week we're doing demolition like anything.
Ever, anytime I.
Go into Audi, yeah, because like it's not my main shop at the moment, just because of like proximity to a supermarket, I have to check out the middle aisles.
Like it's a ride of passage.
Like I went in for a chocolate the other day and I was like, better check out the middle aisle.
Yeah, it's a right of passage. You have to tweaked it's my favorite tweet. They do like this.
They have all these Dutch snacks. There's all these cookies that my grandma's.
Next time they do Nicolins. Are proud of you. Yeah, really so happy. I love I reminder, just google it, just google it.
Could be I'm going to get bracelets made up and they'll do w W B D and it's what we're bet to do, and then we should consider whether we should do that or not.
Except yea trust sometimes it'll be helpful because it's like, oh, I'm going to do the opposite.
Sometimes I didn't say what would Beck do? And then just do that. It's an entertaining question, what would Beck do? Let's think about that. Yes, yes, yes, fun little prompt.
And then last week I put the money in from Tracy who said she was looking at purchasing a new bag recently, and she ducked into an opshop before an appointment and managed to find herself an almost new Origin bag for four dollars in exactly the size and color she wanted.
That is wow, so good. The shop gods were smiling on her.
Oh, I love it. That's a good place to leave it. For the Facebook group this week, beck yes broke tips. What do you bring into the table? You've got three? As always I do, I do, okay.
So there are two from the community.
The first one comes from I don't know their name, but their instagram is yollipops, which is very cute.
They say, keep napkins from your takeaway. They've accumulated so many napkins they kind of like double as apra towels. Oh that's such a great idea, right, and just throwing them out to.
Yes, exactly, I prefer those little You know that they're quite thick, aren't they, those folded napkins.
Yeah, you just go and even if if you get one, you just go over and oh, just grab a few more and then you just take them, you take them home, and there's something really aesthetically pleasing about accumulating coasters napkins from all different places.
So great call.
The next one comes from Naomi, who says, take the free DFO shuttle from South Wharf to the airport instead of the skybus.
Excuse me, worry, I didn't even know it was no DFO shuttle from South Wolf to the airport. You reckon? Yeah, like not to the Essendon DFO, I would not think so to the airport. Yeah, that's low key genius.
I know, I know getting public transport is expensive there. I would say the skybus is like semi reasonable, but like.
Free, you can't compete with free.
No, no, you can't compete with free exactly, So I don't know it was.
Like twenty bucks.
Maybe that was back in my heyday.
One way. I actually haven't caught the skybus in a long time.
I mean I never fly, so I haven't, but I think it was around that much. But like free is better than especially if you're like, if you're going on a trip, you're spending so.
Much money already, so you don't want to spending extra. But the value car park is like twelve bucks a day. Huh. Anyway, my broke tip for this week. I don't know if you guys remember my dupe one from a while back.
Yeah, we were here, We were actually right here, yeah, couch.
And I do always want to preface these things by saying I don't encourage buying. I guess like maybe knockoffs or replicas of things from like artists who have you know, Oh, I think you know, if you can afford it, pay for the original. But anyway, if you can't, if you're just trying to get by, there is another URL I'm going to give you.
So it's called check Benny.
Let's see how h E C K B E n I dot com slash forward slash. You put that before the U r L. Say you're looking at a h what's that thing? Neutribe all sash slash and ninja slushy. If you chuck that before the r L when you're like on whatever page you're on, it may find you a nice dupe.
I haven't how I feel about dupes for electrical appliances.
Yeah, I don't know how I feel about loking for trouble. The example they had was a pair of red boots. So maybe do something that's less fashion or fashion jewelry, yeah, maybe furniture.
Yeah, things like that interesting, so that if you found or you just learned about it and thought that was cool.
I just learned about it. I thought it was cool. But we we'll trial it out and see how it goes. Yeah, I'm really I really want one of those.
I don't know, they're really old, but those mushroom lamps like from Dennis did it?
Oh?
Yeah, So maybe I'll do that. We'll try that. We'll keep an eye out, keep it. I'll find you one. Thank you so much.
I don't think I'll be able to find one in the same way i'll be able to find a ninja slushy though. I'm sorry, Jess, I don't think that's something that's going to pop up in the options.
I'll keep holding out.
We've got you, all right. Let's go to a really quick break on the flip side. We're going to be having a chat about I'm so excited about this because you guys have asked how do I research the best investments? But then also we've got a DM this week about what to do when your boss isn't paying your super or your ex boss isn't paying your super and you're going one down. So let's go to a really quick break and on the flip side, I'm probably gonna lose it.
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 web site 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.
I am a new investor in Australia. I'm twenty three years old. I want to know where to invest for long term goals that is safe and secure, and where I should invest for short term goals and what platforms I should use to invest, Which are the best platforms, Just like a real that states everything easily and not giving financial advice, but just making it giving me the best options or like where to research this stuff.
You know, I realize that's such a hard one because like I get that you know that I can't give you financial advice, but then you're like, what's the best safest option for a long term investment? And I'm like, if I could tell you legally, I would, But the reality of that situation is that the right long term investment for different people is different. Because even if there was a one size fits all approach, which I wouldn't be allowed to tell you about anyway, the reality is
I don't know your risk profile. You know, you might be more akin to investing in term deposits and bonds,
not investments as in the share market. And even if you were, you know, let's say you, Jess and Beck, you both have decided to see a financial advisor, and you both have like five thousand dollars, let's pretend to invest your investment profiles, and your portfolios might come out completely different because just your long term goals, I know, from knowing you well enough, you want to buy property, you want to you know, do all these other things.
And then Beck, on the flip side, you might be like, I just want you to lock it away and like I don't want to be able to access it, and those two things are quite different. And the portfolio we would create is very different, and I think that's why I'm really passionate about investing in Australia. And I mean, if you're talking about picking a platform, there are so many safe platforms. How can you adore chare Zy's Like
you've probably seen it a million times. And someone the other day messaged me and they're like, hey, v have you heard of chair Z's And I.
Was like, yeah, like once or twice.
Don't mean to be rude, but you haven't ever listened to one of my podcasts, have you? And they were like, no, no, just on your Facebook group And I was like, okay, cool, that's where I ran about them. So am I recommending that? Absolutely not, But like it's just one of the most popular in our community. And luckily in Australia, our government is pretty strict on what they accept and what they don't. So if an investment platform is allowed to operate in Australia,
they aren't a scam, Like they just aren't. Are their fees amazing? Maybe not, Like we're not talking about Shazy's anymore, We're just talking about random platforms. But like, does it mean that they're all, you know, equal, No, but you're not going to get scammed if it's an investing platform
that's accessible in Australia. So the first thing would be picking a platform, and then it would be about picking an investment, and there's so many things to consider, and it's probably a very good time for me to remind people that the doors to my Investing Masterclass now open, and that's where I teach you literally how to create a financial plan for yourself from you know, the very beginnings of understanding your money story all the way through
to rebalancing a portfolio once you have it. Like, I teach you everything, and I can't do that in a podcast because I needed graphics and downloadables and workbooks and cheat sheets and like quizzes and like all of this stuff that I was like, I actually need you to like walk the walk before you actually go and do this.
So for me, I would say, I can't tell you, but I can teach you, like and even in my Investing master Class, I don't tell you what to do, but I do do comparisons of the most popular ETFs in Australia and what might work for you the most popular shares all of that stuff. But yes, if you're interested, maybe the investing master class is few and it's open at the moment, it's just opened for short.
M Oh yeah, it would be like high interest savings would be or term deposit.
Yeah.
Look, I don't think that investing for short term goals is smart, especially in our current economy. I'm definitely a put it in a high interest savings account, but to me, that's not an investment. That's you putting it in a high interest savings account. And there's a difference between savings and investments. So for me, savings are for short term and then investment.
Is for long term. Yep, got you got you got to check out our investing playlists.
We've done over forty episodes, including we did one on crea couple. Yeah, just a few over the forty episodes, that's like an entire work week of me.
Yap and about investment, probably more see it's free. Will link the players in the show notes.
I know we've definitely done one on how to create your perfect portfolio, which might be helpful for you to have a look at lots of resources. I know that you said you wanted a real but realistically, the level of education that you're seeking isn't something that you could.
I would have loved to make it real seconds.
I would have loved to been able to put all of that into a real but unfortunately I can't. So I did a whole investing masterclass with hours of video content for you, because that's actually what you need to answer that question. Yeah, gorgeous guys, would you like the DM of this week?
Yes?
Pee, this is where I'm probably gonna lose it. Are you ready?
So DM this week says Hi, she's on the money. I have a money dilemma for you. So, my old boss has only paid some of my super and I was quit. I was laid off by mutual agreement about two years ago. We're still friends and talk regularly. She owes me about five thousand dollars in superannuation, and I've brought it up multiple times. She's a sole trader and is now working full time and only does her business
part time. Now. I text her regarding this situation almost two weeks ago now, and I haven't heard anything from her at all. I don't want to ruin our friendship. But at the same time, she owes me five and I've already lost two years worth of growing my super. How would you handle this? Situation.
Oh, this is really tricky. It's tricky because they are still friends. I feel like it'd be less tricky if they didn't even have any communication because legally she has to write that's the thing, So it's not even five thousand dollars that she owes. It's probably like the way more now because like the amount of.
Interest, like if you went the legal route and framed it, you'd be also claiming interest that you missed out on.
Incredible.
I guess it's really tricky because is someone that you're in touch with, So if you do go the legal route, it's like you could say goodbye d friendship maybe unless they're like really.
Chilling, like, oh, it's fair enough. I probably deserve that, which would be really nice.
But I think that, you know, usually our answers communication is key, but it seems like communication is not working here. It seems like you're very comfortable already bringing this up and they're just not responding. I would probably say something to the effect of, unless you've tried it already, I really like you as a person, obviously, I think for my own sanity and for your own like the you know, if this goes on every single year, they're going to
be owing more and more. But if they just give the money right now, then the interests they're accumulating, that's taken care of. But if they pay in ten years, they're gonna have to pay the interests as well.
It's like this debt is getting bigger.
So just just explain to them that, like, if they pay now, it really it's still quite you know, it's a lot of money, but unfortunately they literally have to I don't know. It really is tricky because you are you know, you don't want to ruin this person's life and you don't want to make them anxious, but they do legally you have to pay that.
Yeah, I think that, like, given it's been raised a couple of times, I know that you're still friends. So I would probably just send almost like a final message and just say, hey, I've tried reaching out to you a few times about this. I'd really hope that we could sort it out between us. However, I need to put myself and my financial future first, and I know that legally I'm entitled to this money. Can you get
in touch with me to sort it out? If not, I will be processing a claim through whatever the government platform. Is so giving them a heads up of the action I'm going.
To be forced to do, yes, like you have to. I'm so sorry, but I have to do it.
Yeah, you're not going to blindside them. You're giving them the heads up. You're also, I guess, kind of showing them that you're really like serious about this.
I like that approach.
You shouldn't have to be chasing them really, and I understand that your friends, but if they were your friend, friends don't do that. Yeah, And I think that it was one thing if they were you know, they didn't have the money and they were really stressed about that, But then they need to be communicating that back and ultimately it's actually not your problem. Like that sounds really harsh.
It's not. But what about putting yourself first is harsh?
Well?
Yeah, and they have as an employer, they took on responsibilities and part of those responsibilities was ensuring that their employees looked after, paid their entitlements, et cetera, et cetera. And so I think, yeah, the best thing to do
send one more message. I know that you just sent one, it hasn't been replied to, but just sending a final one letting them know what steps you are going to take, and then the balls in their court if they continue to ignore it, just process the government claim because once you process the government claim, it puts into motion like an official inquiry type thing, and they will have to pay it.
Yeah.
Do you know if they can pay in installments, because that's an option if you're like, hey, this is easier for you if that just do this, that's not your problem. Yes, that's something that they can come back and negotiate with you. But I don't think you should have to do it.
And to build on Jesses, which I do think is a really good idea, I'd make it as easy as possible for them by going to remind you this is the account number and my BSB to make the payment, and you can do that via be pay and this is the reference and the like. I know that that's a bit more work for you, but I'm assuming that she'll be like, oh, I don't have the information in front of it, Like you are removing any excuse for
that not to be paid. And if she can't make the payment then and there that's her opportunity to say, hey, I don't actually have the cash. Can I do a thousand dollars a month or something, at which point you could accept or declinb that get it in writing, getting it in writing.
But I would also I don't know.
I just don't think friends do that to friends that's not a friend, Like a friend doesn't do that to somebody and then still happen, Like I cannot imagine oweing somebody money in that capacity where they're consistently being like, hey, you owe me super, can you please pay it?
And then just like still texting Jess being like, hey, what are you up to on the weekend? Yes, very strange, so weird.
Like that makes me so uncomfortable because I feel like it's just me blatantly disrespecting somebody like ill no, And also my brain as an ex financial advisor, I just went to what does that mean? Like five thousand dollars today and your superannuation over the next thirty years at an average interest rate return of what nine and a half percent? Because that's on average what the sher market has returned is close to.
One hundred thousand dollars. It's a lot of money. One hundred thousand dollars.
Is what future you is going to be missing from their retire climate because of this.
Yeah, that's crazy. Do you feel like really not? Yeah?
Like no, no, no, thank you no, like no.
So I guess what we're all thing is do not let it go because it will eventually be a lot of money. And like five thousand dollars right now, just you know, seems like in the grand scheme of things whatever, but it does.
It does matter. From middle things, big things grow.
Like literally, I just put it into a compound interest calculator because I was like, well, was I right with that?
And it is.
So your initial deposit of five thousand dollars, this is not calculating or including the last two years of missed superannuation. Your total interest earned over thirty years at an annual rate of return of and I chucked in ten percent is ninety four thousand, one hundred and eighty seven dollars. So you would have a total contribution including that five thousand dollars of ninety nine thousand, one hundred and eighty seven. So after ten years, that five thousand dollars would be
worth thirteen thousand. After twenty years that amount is worth thirty six thousand, and then after thirty years that amount is worth ninety nine That is crazy. I think what you're missing out on, and you know what, I would I don't know if this is dramatic or whatever, but like I would really drive. Like I think sometimes people can tell themselves it's not that bad. I sh'll drop it, she'll leave it, she'll leave it.
But like.
Sometimes just driving home, Hey, I've actually done the calculations of what I'm going to miss in retirement and it's actually almost one hundred thousand dollars if this payment isn't made. So for future me, I actually have to follow this up because like absolutely.
Not and for future them as well, because from my understanding of what you're saying before, I could have this wrong, but they need to be the interest that was accumulating one hundred percent, so if they paid it right now, it'd be five thousand and.
So it makes me so mad because, like I think, also because I have experience in this space, like I'm a business owner, I have to pay super It is a bloody privilege, Like it's one of the things that yes, it is, it's hard managing a business and managing payroll and superannuation, but you should not have a business if you cannot do that, Why are you taking on an employee if you can't afford that, like, stop getting ahead
of yourself. Like, and I think that's what makes me so upset, because you're taking advantage of people for your own benefit. Like there's no benefit to your employee in this situation, yet you're feigning that you have a friendship with them.
Still you just took advantage of them.
Absolutely not like you're not Like I can't imagine doing that to anybody on my team, Like, oh.
My god, Like I'd be mortified.
And there's been times where Jess has been like, hey, like my pay was meant to have a reimbursement or something in it, and I've missed it. I'm like, oh, I find that mortifying. I cannot imagine if I was owing her five grand on her super so I would be doing exactly Like I think Jess's approach.
Is a good one.
Reaching really writing a message, yep, maybe even popping it in an email, like hey, writing somewhere. Yeah, in writing absolutely, like you can send a text message, you'd be like, I've also sent it to your emails to make it as easy as possible for you. In reality, I'm just
getting it written down. A number of different places, and just giving them as much information in that one message to pay it, why you need it paid, and that you will be taking further steps because unfortunately, Yeah, but also like you're worth that.
Yeah, Like you should be following this up.
And I can almost promise that if this is the type of friend that you have today, I can't see them being your friend for that much longer if this is how they're treating you.
Yeah, what everybody else says, Oh my goodness.
Thankfully our community, I feel like we're kind of on our same page, Jess. So the first question we ask the community is what would you do if you're in this situation? And thirty nine percent of you said, I'd keep pushing because it's my money, forty six percent of you said you'd report them because rules are rules, fourteen percent of you said no, this is really messy, and two percent of you said I'd let it go because I don't like the drama.
Two percent of you don't let it go.
I think after hearing those few years that you wrote it off before, I think that two percent would probably change their minds.
Exactly because I think a lot of us just go oh, and it's not only five grand five grand is a lot of money, but also because it feels a little bit distant, like it's super like you can't access it right now, you're just going to be like, oh maybe, oh does it really.
Yes, it really matters. Definitely go give me a number or caller.
The next question we asked was would you take legal action if a friend owed you money from a work situation? And I do think this is a little bit different than like, you know, you spotting your best mate a couple of hundred bucks or even five grand.
This is business, Yeah, you are business is business. Yeah.
Sixty percent of you said maybe, depends on the amount, thirty eight percent of you said yes, business is business, and three percent of you said not worth the fallout, three percent of you absolutely not.
We then of your asked the question what is your two cents?
First person said, talk to her one more time and say that you'll be reporting her if she doesn't come through.
Jesse, are you sure your name's not this name? It's me on my ten secret account.
Someone else said, this happened to my husband and we went straight to fair work before they ended up taking action. Another person said they ruined the friendship when they didn't pay your super. I agree, it shows a level of disrespect shouldn't exist in a friendship. Another person said she has an obligation as a business owner and she actually needs to be held accountable.
There's a two parter.
First part says, happened to my brother working for a family friend. It actually ruined the family friendship and he only got a small amount of what he was owed. Friends don't do that to friends. It's definitely worth fighting for.
Yeah.
Another person said, your friend not only owes you five grand, but also.
The growth of the income that you missed out on. The community could just run this entire show.
And then this person also messaged in all So, the ATO has an online tool for reporting employers who haven't paid employees super and it calculates the interest.
Does it all for you? Does it all for you?
I was gonna say you could do it an honestly, but you probably literally cannot.
Well you probably.
Can't, But also I don't think you need to do this anonymously. Like, at the end of the day, you're not in the wrong, and you might feel like you are.
It's like, no one wants.
To be a burden. And I think as women, we just hate the idea of being like, oh, I'm really sorry, I'm putting you out, and your friend might have every excuse under the sun, like oh, well, you know, and I'm just extrapolating this out, but we heard from the DM she's just gone back to full time work, so she could be like, oh, I had to go back to full time work because I couldn't afford to run my business full time and I just don't.
Have the cat. Actually don't care.
Work out a playment plan with the ATO, workout it, Like you shouldn't have been putting yourself in this situation.
I think this is very different.
Like I'm being quite harsh in this situation because business is a choice. This isn't I got into debt and I can't afford to repay it or I owe my friend money for a like, that's a different story. The fact that you knowingly went into business, had an employment contract with somebody, and have blatantly disregarded that, I think is disgusting. So let's say it there, because I am about to ask.
For this woman's name.
Yeah, I've got to make good TikTok content, wouldn't it all right?
Let's go?
Because I feel like I have taken up a lot of your time. I have loved this episode.
Guys. We'll see you next week and brighton early on Monday for money Darry My guys sign buy shared on.
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