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Woman slammed for using GoFundMe for house deposit

<p>A woman has been relentlessly mocked online after launching a GoFundMe page to ask strangers to contribute money to her house deposit. </p> <p>Emmalee Potter, a mother-of-three from Victoria, wrote on the page that she had been "suffering a rough few years" and relying on friends and family for help with accommodation. </p> <p>Now however, Potter is finally in the position where she is tantalising close to being able to purchase her new home after "working hard towards saving", but still finds herself $3,000 short of her goal. </p> <p>As she wrote on the fundraising page, "I'm almost at the final stage but I'm short on the deposit so I'm calling on my village. Please help me get over this last hurdle, every little bit truly helps, a house is more than just a place to live."</p> <p>"It's a foundation for the next chapter of life, a space where memories are made, and where I can really begin to feel settled. Your donation, no matter the size, will go directly toward helping me achieve this dream."</p> <p>While Ms Potter thanked those who could contribute, many were not impressed at her using the platform in order to fund her house. </p> <p>"No hate but you expect people to donate to you so you can buy a house?" one person asked, while another added, "I'm sorry but that is ridiculous. If we are all going to start GoFundMe accounts, I may as well start one so I can go on a holiday to Greece."</p> <p>Another person wrote, "It's a tough time for everyone trying to buy a house, especially with the cost of living, so I'm kind of confused why you're asking for donations. The first paragraph of your listing says 'I'm now in a position to purchase a home' but you're asking strangers to send you money for the deposit?" </p> <p>Ms Potter defended the fundraising page as she responded to one outraged commenter, writing, "It's not about 'funding me a house' it's the small amount still needed to buy something."</p> <p>"Me and my kids are living in a room at my friends. Buying is actually cheaper than renting. We've applied for over 100 rentals and been knocked back. I can get the home loan and pay the repayments [I'm] just needing the last bit of the deposit."</p> <p>Others were quick to defend the woman, as one person wrote, "There's nothing wrong with asking for help."</p> <p><em>Image credits: GoFundMe / Facebook </em></p>

Money & Banking

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Salon owner loses $40,000 from one $60 deposit

<p dir="ltr">When beautician Thuy Le received a call from a supposed customer’s ‘husband’ regarding an accidental payment, she could never have foreseen the devastating turn her life would take from that point on. </p> <p dir="ltr">The mother of two, whose husband is living with Parkinsons and unable to work, recounted how her harrowing ordeal started with that one phone call, and the man on the other end requesting she return the $60 his wife had ‘accidentally’ paid. </p> <p dir="ltr">Le checked her bank statements to verify his story, and after noting one deposit that matched, she transferred the funds into the account he provided. </p> <p dir="ltr">She did not provide any of her own personal information, her passwords, or any critical numbers for her accounts. And yet, in the time to follow, Le could only watch in horror as more withdrawals were made from her account, into the very same one owned by the customer’s ‘husband’. </p> <p dir="ltr">The withdrawals totalled a devastating $41,600 stolen from Le’s life savings. </p> <p dir="ltr">Le also recounted how she was refused access to her business account, and that she got in touch with her bank as soon as she realised what had happened, suspecting she had been scammed. </p> <p dir="ltr">Her quest for support in her time of need was cut short, with the financial institution placing the blame solely on Le and ruling that they were not liable for the losses she had endured - this was despite the suspicious withdrawals raising no alarm with the bank, and the lack of personal information involved in the scam. </p> <p dir="ltr">Of their questionable red flag system, the bank claimed that it is “nearly impossible for an unauthorised third party to guess”, referencing the way that the logins for the costly transaction all succeeded on the very first try. </p> <p dir="ltr">Furthermore, as stated in a letter to Le, they declared that “the only reasonable explanation for these logins would be that your online banking credentials were known to the unauthorised third party, which would be in breach of the passcode security requirements.”</p> <p dir="ltr">“I am in financial hardship,” Le admitted of her dire situation, and the need to have the funds returned for her family and her husband’s crucial medication. </p> <p dir="ltr">“I have two little kids, I have a husband with Parkinson’s disease, he cannot work,” she continued. “We are still in the process of applying for government help and I have carried the financial burden on my shoulders.”</p> <p dir="ltr">While Le’s bank offered $200 to resolve her complaint, she was offered no further assistance, and took matters to the Australian Financial Complaints Authority, hoping to have her money returned to her. </p> <p dir="ltr">“I can’t sleep,” she confessed. “I want to know why this happened to me and how it happened to me.</p> <p dir="ltr">“I’m not a liar, not a criminal, not a fraud.”</p> <p dir="ltr"><em>Images: Supplied to 7News, Facebook</em></p>

Money & Banking

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How to make the most of your hard-earned savings

<p>When you have a lump sum of money, it can often be very confusing to know what to do with it, when putting it into a bank offers little in the way of interest or reward. Chances are you might have been neglecting your savings, leaving them languishing in accounts that pay very little, if anything at all. But there is a better option that could see you drastically increasing your savings.</p> <p>A term deposit taker, such as boutique investment company Blue Sky money, can offer you far greater returns on your deposit – an impressive 7 per cent, around twice that which banks offer. Better yet, with all profits staying within and benefiting the community, you can also enjoy the knowledge that you’re helping to make a difference to New Zealanders while growing your nest egg.</p> <p><a href="https://blueskymoney.co.nz/" target="_blank" rel="noopener"><strong><img src="https://oversixtydev.blob.core.windows.net/media/2022/12/Blue-Sky-7.jpg" alt="" width="1280" height="1062" /></strong></a></p> <p><strong>Set and forget</strong></p> <p>Most of us are far too busy and time-poor to spend too much time tending to our finances. But that doesn’t mean we don’t want to see them grow! At Blue Sky money, with a minimum deposit of $30,000 and a minimum 12-month fixed term, you don’t need to think about anything. You’ll have your own personal customer service agent, and can just sit back and watch as your interest is calculated and paid into your account monthly – no fees, no charges.</p> <p>Believing that looking after your finances should be a pleasure, not a chore, Blue Sky money prides itself on offering a superior service and being far more user friendly than banks, so not only will your money work harder, but you’ll enjoy the satisfaction of feeling part of a financial family that truly cares about your wellbeing.</p> <p>Blue Sky money can also assist with small to medium loans for land, houses or other assets, are on hand to help with reverse mortgages and are even investing in retirement villages. And in an exciting new addition, from 2023 Blue Sky is launching its own travel club for all those who place their deposits. You’ll receive special deals and tour packages, ensuring your money goes even further, while enjoying everything the world has to offer.</p> <p><img src="https://oversixtydev.blob.core.windows.net/media/2022/12/money-laptop-happy-GettyImages-1307391886.jpg" alt="" width="1280" height="720" /></p> <p><strong>Improving New Zealanders’ lives</strong></p> <p>And while getting some much-needed extra cash seems like a pretty good deal all on its own, you’ll also have the piece of mind of knowing that with Blue Sky money – a family run business owned by Blue Sky charity, which is registered in New Zealand – all profits stay within New Zealand. With a philosophy of trying to make the world a better place, Blue Sky invests in research and development to better New Zealanders lives – everything from groundbreaking cancer treatment using ultrasound, to sustainable energy, sea trailers and indestructible home builds.</p> <p>Blue Sky money can also assist with small to medium loans for land, houses or other assets, and are available to help with reverse mortgages. And in an exciting new addition, from 2023 Blue Sky is launching its own travel club, where you can receive special deals and tour packages.</p> <p>So if you’re looking to make your savings work harder for you, while aligning yourself with a humanitarian company that’s working to improve the lives of New Zealanders, be sure to get in touch with the Blue Sky team at <a href="https://blueskymoney.co.nz/" target="_blank" rel="noopener">blueskymoney.co.nz</a></p> <p><img src="https://oversixtydev.blob.core.windows.net/media/2022/12/tropical-island-GettyImages-1360554439.jpg" alt="" width="1280" height="720" /></p> <p><em>Images: Supplied. </em></p> <p><em>This is a sponsored article produced in partnership with <a href="https://blueskymoney.co.nz/" target="_blank" rel="noopener">Blue Sky money</a>. </em></p>

Money & Banking

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Savings accounts or term deposits: where should you put your cash?

<p>Whether you’re saving money for the short or the long term, choosing between a <a href="http://mozo.com.au/savings-accounts-" target="_blank" rel="noopener">savings account</a> or a <a href="http://mozo.com.au/term-deposits" target="_blank" rel="noopener">term deposit</a> should be a considered decision.</p> <p>The key differences between the two need to be balanced against your financial goals to help you decide which way to go.</p> <p><strong>Access to your money</strong> –Term deposits lock your money away for a period of time starting at a minimum of one month and up to as long as several years. So make sure you won’t need to get your hands on your cash for a while.</p> <p>Savings accounts give you more direct access to your money but generally offer a lower interest rate than their term deposit counterparts. They let you take your money out when you need or want it.</p> <p><strong>Interest rates</strong> –Savings accounts have variable interest rates, so they can change. Some rates are introductory so they’re only held for a certain amount of time, then they drop to a lower variable rate. Read the fine print to see if and when the rate changes, and to what amount. Some savings accounts give you bonus interest if you don’t make a withdrawal or you make a minimum monthly deposit. Be aware too that some accounts might reduce your interest if you withdraw too much or too often.</p> <p>Term deposits offer fixed interest for the length of your term. So once you’ve opened a term deposit, if rates go down, your money isn’t affected because the rates are locked in. Usually the longer the term you choose, the higher the interest rate on offer (although it’s not always the case).  It’s worth keeping an eye out for special interest rate offers, too.</p> <p><strong>Starting amounts</strong> –Term deposits generally have a minimum amount that you need to start with – often it’s at least $1,000. You can start a savings account from zero.</p> <p><em>Image: Getty Images</em></p> <p><strong>Flexibility</strong> –Savings accounts let you add more money whenever you like. Term deposits generally don’t.</p> <p><strong>Which suits</strong> –You need to ask yourself what your savings objectives are. Accessible cash for immediate requirements through a savings account is attractive but for longer-term objectives such as that trip or new car you’ve been eyeing off, the term deposit attracting higher interest and forcing you to refrain from dipping into your account will have you winning in the long run.</p> <p>If you open a term deposit, it’s good to maintain a savings account as well. That way you can keep adding to your savings and when you reach a certain amount, you’ve got the option of possibly starting another term deposit.</p> <p>If you’ve got enough for a term deposit now, shop around for the best deal. There are savings account and term deposit comparison websites which can help make this easier, but it’s also worth checking out different banks and other providers too.</p>

Money & Banking

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Couple puts cancelled wedding deposit to good use

<p>Most brides and grooms-to-be have been forced to scale back wedding plans due to the coronavirus pandemic, with shorter guest lists, cancelled venues and smaller receptions.</p> <p>But US couple Emily Bugg and Billy Lewis had an idea to turn around their wedding celebrations for the greater good - by giving back to others.</p> <p>The Chicago couple had been planning a large wedding reception for family and friends, but with the pandemic getting worse in the US, they realised their big day wouldn’t go ahead as planned.</p> <p>The couple ended up getting married last month in a small city hall ceremony, with only a photographer.</p> <p>The couple were left with a $5,000 catering deposit, so they asked their caterer if they could turn the wedding food into donated Thanksgiving dinners for those in need.</p> <p>The newlyweds and the catering company helped serve 200 meals to people with serious mental illnesses and substance use conditions.</p> <p>"In the grand scheme of things, canceling a big wedding isn't the worst thing that could happen," said Bugg in a statement. "We're happy to be married, and we're so happy that we could help Thresholds' clients feel the connection of a Thanksgiving meal as a result of the wedding cancellation."</p> <p>"They said, 'Is there any way we could do something good with our deposit?'" recalled caterer Heidi Moorman Coudal, who owns Chicago-based company Big Delicious Planet. She said most couples ask for their money back, or they simply think of the time and resources caterers put into planning their wedding menu as another sunk cost.</p> <p>"For them to think about doing something for the greater good is just really heartwarming," Coudal told CNN.</p> <p>"Everybody was really excited because they knew this food was going to a really good cause. I think of Big Delicious Planet as a company that gives a lot back to the community -- we donate our time, our food resources, our locations and community garden, so I was happy to get on board with this."</p> <p>Bugg is an outreach worker at Thresholds, a nonprofit mental health provider in Chicago that helps people with conditions such as bipolar disorder, schizophrenia and major depression.</p>

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