How They Get You: The Everyday Money Traps (And How To Beat Them)

By Molly Benjamin, Founder of Ladies Finance Club

Listen to the full podcast here.

If you’ve ever opened your banking app and felt that little gut-drop of, wait… where did it all go? you’re not alone. Not even close.

This episode of Get Rich is a proper lightbulb moment because it isn’t about “being bad with money.” It’s about the fact we’re all living inside systems designed to make spending feel effortless, invisible, and totally normal.

I sat down with financial journalist Chris Kohler, who wrote a book called How They Get You, and the title is as blunt as it sounds. In the best way. We’re talking about the sneaky everyday money traps that drain our accounts slowly, quietly, and consistently, and what we can actually do about them without turning into a hermit who never buys coffee again.

Chris’ big point is simple, but it lands.

If you want to win with money, you can’t be passive. You have to be an active participant.

Because the passive customer, the one who “sets and forgets,” is the easiest to overcharge. They get stuck with the higher fees, the worse rates, the “discounts” that aren’t real, and the loyalty programs that reward the company far more than they reward you.

And honestly, once you see it, you can’t unsee it.

Who is Chris, and why does he care so much?

Chris has been reporting on Australian finance for years, the serious version, the “microphone and suit” version. But he started noticing something. The stories were important, but the way we talk about money often makes people feel bored, intimidated, or like it’s not for them.

So he started making videos that were funny, relatable, and slightly chaotic, the kind you send to a friend with “this is so true.” And they hit because he was saying what so many people feel but don’t have words for.

The book came after, as a deeper dive into the same world. Not to scare you, but to arm you. It’s basically a guide to becoming the kind of consumer who doesn’t get quietly rinsed.

The money traps that catch the most people

The first thing that jumped out in our chat was subscriptions. They’re not just Netflix and Spotify anymore. Everything is turning into a recurring payment. You used to buy something once, now you rent access forever. And because they’re “only” $9.99 or $14.99, they slip under the radar. Until you add them up and realise you’ve accidentally built a small second mortgage made entirely of apps you don’t even open.

Then there’s the convenience tax, which is very real, and feels like it’s getting more expensive by the week. Food delivery is the obvious one. We’ve all done it, you’re tired, you’re busy, you just want dinner handled. But Chris talks about how wild the markups can be once you factor in fees and inflated menu prices. It turns an occasional treat into a quiet budget leak that’s hard to spot, because it doesn’t feel dramatic in the moment.

And then we touched on something bigger, and honestly heavier, gambling. Chris called it the most socially accepted money habit in Australia that quietly costs people a fortune. The scariest part isn’t just the money, it’s how normalised it is, how early it starts, and how cleverly it’s embedded into sport and apps. It’s one of those topics that can feel awkward to talk about, but I’m glad we did, because ignoring it doesn’t protect anyone.

The psychology bit that made me go “ohhh… that’s why”

One of my favourite parts of the episode is when we talk about how we pay.

We’ve gone from cash to card to phone, and now spending is almost frictionless. Tap and go is quick, clean, and convenient, but it also removes that tiny moment where your brain used to pause and go, do I actually want this?

Chris talks about research that suggests paying with cash triggers a little “pain of paying,” a mild discomfort that acts like a brake pedal. When you tap your phone, that brake disappears. You’re already out the door before your brain’s even caught up.

Which made me think about our kids too, because how do we teach money in a world where money doesn’t look like anything anymore?

Loyalty programs: why “being a good customer” can backfire

This one was slightly painful because we’ve all thought, well I’m spending anyway, I may as well get points.

But Chris’s take is that loyalty programs often work the opposite way to how we imagine. They can keep you stuck. They can stop you switching to a better deal because you don’t want to “waste” your points. And the reward isn’t always as generous as it looks when you do the maths.

Plus, the points aren’t really the point. The data is.

It’s not that you have to boycott every loyalty program forever. It’s more that it’s worth noticing when something is shaping your behaviour, nudging you to spend more, or making you loyal to a company that isn’t being loyal back.

Property and the emotional weight of “being behind”

We also touched on the property market, and this part felt very real because property in Australia isn’t just an asset, it’s identity, safety, status, and a whole pile of pressure.

If you’ve ever felt like you’re behind because you don’t own yet, or like you have to rush because everyone else is buying, you’re not imagining it. The system is loud. And it can make people make decisions from fear instead of clarity.

Chris’s point here wasn’t “don’t buy” or “always buy.” It was more about understanding what you want property to do for you. Stability, lifestyle, wealth building, or a mix, and making decisions from that place, not from panic.

The best practical tip: schedule a “Hell Day”

Chris suggested something I genuinely love because it’s realistic. He calls it a Hell Day.

Basically, you pick a day (or half day), and you do the annoying money admin you’ve been avoiding. The calls. The cancellations. The negotiating. The checking. You don’t drip-feed it across weeks while it hangs over your head. You knock it over in one hit.

And the reason it works is because it turns vague stress into clear action.

Also, once you save money from doing it, you get this little rush of, wait… I’m powerful. Which is exactly the energy we want.

The bigger lesson underneath all of this

This episode isn’t about never enjoying life. It’s not “don’t buy coffee” energy.

It’s about knowing the game you’re playing.

Because companies are constantly testing what makes us spend more, faster, more often, and with less resistance. That’s the world we’re in. But the good news is, once you understand that, you can start making decisions intentionally instead of automatically.

And when you do that, money stops feeling like something that happens to you. It starts feeling like something you can steer.

If you want to follow Chris, he’s @chriskohlerenews, and his book is How They Get You. If you loved this episode, send me a DM and tell me which money trap got you the most, because I promise, you’re not the only one.

And if you’re due for a Hell Day… consider this your sign.

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