Barefoot’s warning after shopper stung $1300 for $13 sandwich
This week Barefoot Investor has a wake-up call for shoppers using tap and go after one of his followers was left $1300 out of pocket for a $13 chicken sandwich.
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“Would you like your receipt?” asked the cashier at my local IGA.
I shook my head. I always shake my head.
After all, most receipts are a waste of paper and ink. And I know that if I do take one, just to be nice, I’ll shove it in my pocket and it’ll invariably end up going through the wash and Liz will yell at me.
In fact, if I’m buying something cheap these days I don’t even hang around to get asked the question.
I’m tapping, and I’m going!
As soon as I hear the ‘beep’ I’m off. “Stop me if it doesn’t go through”, I say as I charge out of the store.
Yet this week I got a shocking letter that has made me slow the hell down at the store.
Hi Scott,
My husband did a silly thing. He often goes to a local bakery for a chicken sandwich, paying with his debit card. Last week, he did his usual routine: ordered, tapped his card, entered his PIN, picked up the sandwich, and continued on with his day.
Over the weekend, he noticed the bakery had charged him $1,300, not $13. He called the bakery, thinking it was a mistake. However, the owner accused him of being a scammer and refused a refund!
He then disputed it with the bank. The bank said that entering his PIN meant he had authorised the charge. So we’re now out $1,300 for a sandwich!
Natasha
Struth!
Talk about a sh…nitzel sandwich.
Thankfully my bank flashes up the transaction on my Apple watch and phone after I leave the store.
Your husband should definitely get that feature.
Yet here’s what I’d do about your situation.
First, I’d gather the evidence: get the bank to verify the merchant was indeed the bakery, and then print off the statement. I’d hand it to the bakery and ask very politely that they reverse the transaction.
And if they refuse, I’d tell them that your next stop is to the police station where you’re intending to press charges for theft.
Tread Your Own Path!
My Wife Found the Lord … But Not a Job
Hi Scott,
My short question is this:
Is it legal for a partner to refuse to get work? And who can I turn to if they continue to refuse to get work?
The longer question:
When we got married, my wife gave up her well-paying job for us to start a family. Our plan was for her to give up work, then return to work when the children were in school full time.
Fast forward six years, both the kids are in school full time, and I’ve asked her about getting a job. She refuses to get one, but has spent the last four years doing various TAFE courses. Also, while studying she got heavily involved with a church. During this time her commitment to the church was far superior to her commitment to her family, with her often attending church activities and leaving me and the kids at home late into the night.
The house is a pigsty and we haven’t had guests over for at least five years. I’m mentally stressed from being the sole breadwinner, as well as consistently looking after the children. If I leave, I’ll potentially lose the house and assets I’ve paid for (she brought nothing financially to the relationship). And she point blank refuses to participate in any marriage or financial counselling. Where can I turn?
Dennis
Hi Dennis
The short answer is, no it’s obviously not illegal for a partner to refuse to work!
I’m not a relationship counsellor, but one thing I can tell you: whatever decision you come to, don’t make it based on money.
There is a lot to unpack here … yet I don’t think your wife getting a job will solve your problems.
Your real problem is that you’re living in an unhappy marriage where your wife is getting at least some of her needs met by her faith and the church rather than you.
So the real question you need to ask yourself is this:
Are you willing to try and improve the relationship … or are you too bitter, twisted and hurt?
The only person that can answer this question is you. And even if you do decide to try and improve your relationship – perhaps by going to church with her – there’s obviously no guarantees from her side. If you come to the conclusion that the relationship is cooked, that’s your main concern … not the money.
My Beautiful Little Tax Deduction
Hi Scott,
I have just been told of a way I can save more money on taxes as a sole trader that is perfectly legal and above board. Apparently I can employ my 14-year-old son on minimum wage to help me as a personal assistant, thus giving me a deduction of up to $18,500 on my taxes. I know I would still need to pay him super. I would pay that money into his account and deduct things like school fees from those earnings, effectively paying for his education, but he would pay no tax as he would be under the tax-free threshold. He would get some pocket money and I would pay less tax and also help with his school fees. This sounds too good to be true. What am I missing?
Natalie
Hi Natalie
What you’ve described has the whiff of tax evasion to me.
This will be like a game of pong for the ATO’s supercomputers – they’re likely to hit you eventually.
So all I can say is be ready: you’ll need the appropriate work contracts, documented hours and specific jobs, plus a payroll system and super payments.
The tax office says: “There are heavy penalties for taxpayers that deliberately attempt to gain an advantage of the tax system. This behaviour can lead to criminal prosecution.”
Is it worth the risk?
My Parents Don’t Support Me
Hi Scott,
My name is Laura and I’m 12 years old. A couple of months ago I was given a copy of Barefoot Kids. I’ve come to inform you that I’ve read it many times and it has inspired me to become a better person when it comes to money. But I have one problem: how can I convince my parents to let me go ahead with my money-making schemes? I write down plans, and I do a bit of a presentation, and I do research, but nothing works. My parents own their own small and successful business, which is why I have always wanted to be an entrepreneur myself. I get that they would rather me starting small and helping out with their business, but all I dream of is owning my own. Please help!
Laura
Hi Laura
Right now, there are thousands of parents who have just read your question and their mouths are as wide open as Joe Biden’s (and they also have the same dumbfounded look on their faces).
Here’s why: all that most parents get with their tweens is grunting, slamming doors, and eye-rolls … lots of eye-rolls.
You, on the other hand, are doing research and presentations, and pleading with your parents for their approval to let you use your initiative to work hard, learn, make money and grow as a person.
Some parents don’t know how good they’ve got it.
Here’s what I want you to do: put this under their nose. It doesn’t matter if they read my answer – it’s your question that I want them to read. After all, you said that they are your inspiration for wanting to become an entrepreneur.
Sweet Baby Jesus!
If any of my kids said that to me, I’d be a blubbering mess. That’s what every parent dreams of!
And after that, if they still don’t want to help you, I will.
Good luck.
DISCLAIMER: Information and opinions provided in this column are general in nature and have been prepared for educational purposes only. Always seek personal financial advice tailored to your specific needs before making financial and investment decisions.
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