You May Have Missing Money... Here's How to Find It!

Summary

Podcast Summary: "You May Have Missing Money... Here's How to Find It!"

Podcast Information:

• Title: Money Rehab with Nicole Lapin
• Host/Author: Money News Network
• Description: Money Rehab with Nicole Lapin breaks the taboo around discussing money by providing accessible financial advice. Hosted by New York Times best-selling author Nicole Lapin, each episode delivers bite-sized tips and tricks to help listeners take control of their financial lives. The show encourages audience interaction through email submissions, offering the chance to receive personalized financial interventions.

Episode Details:

• Title: You May Have Missing Money... Here's How to Find It!
• Release Date: December 16, 2024
• Guest Host: Morgan Lavoy

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Introduction to Unclaimed Money

In this episode, guest host Morgan Lavoy takes the reins to explore the often-overlooked topic of unclaimed money. The episode kicks off with Nicole Lapin addressing a listener's question about finding extra money, setting the stage for a comprehensive guide on unearthing hidden funds that many might not even know they possess.

Six Sources to Discover Unclaimed Money

Nicole Lapin delves into six key areas where listeners might find unclaimed money:

1. State Unclaimed Property Offices

   • Timestamp: [03:20]
   • Nicole Lapin: "Number one, your state. If a bank, insurance company, or even state government owes you money and can't track you down, they send your money to the state's unclaimed property office."
   • Action Point: Visit USA.gov Unclaimed Money to start your search.

2. Unclaimed Paychecks

   • Timestamp: [03:35]
   • Nicole Lapin: "If you left a job in the middle of a pay period or have unclaimed vacation days owed to you, you could be owed money."
   • Action Point: Check Unclaimed.org and the U.S. Department of Labor for unpaid wages.

3. Matured Savings Bonds

   • Timestamp: [04:10]
   • Nicole Lapin: "If that savings bond your grandpa gave you has matured, you may finally be able to cash it in."
   • Action Point: Explore TreasuryHunt.gov to locate and redeem old savings bonds.

4. Tax Refunds

   • Timestamp: [04:45]
   • Nicole Lapin: "You might not have needed to file a tax return, but you could still be eligible for a refund."
   • Action Point: Visit the IRS website to check for any unclaimed tax refunds.

5. Utility Security Deposits

   • Timestamp: [05:10]
   • Nicole Lapin: "Not every landlord returns your security deposit. It's worth reviewing your old lease agreements and bank statements."
   • Action Point: Contact former landlords directly to inquire about any returned deposits.

6. Class Action Lawsuit Settlements

   • Timestamp: [05:35]
   • Nicole Lapin: "There are numerous active class action lawsuits across various industries that you might be eligible to join for a settlement."
   • Action Point: Search ClassAction.org to see if you qualify for any ongoing settlements.

Nicole emphasizes the legitimacy and accessibility of these methods, urging listeners to take proactive steps in reclaiming what is rightfully theirs.

Morgan Lavoy’s Personal Journey

To illustrate the practicality of these tips, Morgan Lavoy shares her own experience with unclaimed money:

• Timestamp: [08:25]
• Morgan Lavoy: "I did go to unclaimed.org and spoiler alert, I did have unclaimed money, which is so exciting."

Morgan recounts discovering that her college owed her money, albeit in a small amount, and the process involved mailing in claims due to state-specific restrictions. To further demonstrate, she enlists her mother, Lynn Bolger, to help locate her own unclaimed funds.

• Timestamp: [09:37]
• Morgan Lavoy: "Let's find you your unclaimed money."

Together, they navigate the Unclaimed.org website, successfully identifying a modest sum of $25.61 in Lynn's name. This hands-on demonstration underscores the accessibility of reclaiming unclaimed funds, even if the amounts are small.

• Timestamp: [12:28]
• Lynn Bolger: "I feel like now I can get, like, maybe Dan Dan noodle takeout. And that feels great."

This personal story not only validates the effectiveness of the provided tips but also encourages listeners to take similar actions, no matter the potential amount.

Conclusion and Final Tips

Wrapping up the episode, Nicole Lapin reiterates the importance of searching for unclaimed money:

• Timestamp: [12:37]
• Nicole Lapin: "Do as our amazing producer did. And as I said, go to unclaimed.org right now. That is honestly the best place to start to try and find some of your buried treasure."

She encourages listeners to take immediate action and remain vigilant about their financial entitlements. Nicole also hints at future episodes, promising more Money Rehab tips to help listeners manage and grow their wealth effectively.

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Key Takeaways:

• Unclaimed Money Awareness: Many individuals have unclaimed funds residing in various institutions, often due to forgotten or overlooked circumstances.
• Proactive Searching: Utilizing dedicated websites like USA.gov, Unclaimed.org, and TreasuryHunt.gov can uncover hidden funds.
• Personal Verification: Even small amounts, as demonstrated by Morgan and her mother, can provide financial relief and prompt listeners to further investigate their own unclaimed money.

Encouragement: Nicole Lapin and Morgan Lavoy inspire listeners to take control of their finances by reclaiming what's rightfully theirs, emphasizing that it's never too late to discover and utilize unclaimed money.

Transcript

[Nicole Lapin]

I'm Nicole Lapin, the only financial expert. You don't need a dictionary to understand. It's time for some Money Rehab.

[Morgan Lavoy]

Hi, Money Rehabbers, it's Morgan Lavoy, the EP of the show. And this week I'm going to be guest hosting Money Rehab. I've been producing Money Rehab with Nicole since it launched in 2021. I remember so clearly the first time I ever met Nicole, it was over Zoom, because, you know, it's 2021 and everything was over Zoom. It might have even been 2020 and Nicole had booked an Airbnb to write. Honestly, I forget which book at that point. It might have been Ms. Independent. And she was in the middle of the desert somewhere. And so we were on this call talking about what the show might look like. And every so often there would just be this screeching noise in the background because where Nicole was, there was a large population of wild hogs. And so every so often she would flip her camera around and you would just see this small stampede of very scary looking wild creatures. And I just remember thinking, I love this woman and I can't wait to work with her. And at the time, I was at iheartradio also producing other shows like Bethenny Frankel's podcast and Bill Clinton's podcast, Mini Driver's Podcast, and a bunch of others. But Money Rehab has always had a really special place in my heart. I love the show so much that I actually left my job at iHeart to start eminence with Nicole. And it's just been the ride of a lifetime, the biggest opportunity I've ever had, which is why I'm so grateful to be guest hosting the show this week. So this week you'll hear episodes ranging from a conversation on the business of Dream drag with the winner of RuPaul's Drag Race All Stars Season 2, Alaska, a deeper dive on some of those quote unquote, boring businesses Nicole has talked about. For that conversation, I'm going to be talking with the CEO of laundry and dry cleaning company Rinse. You're also going to hear my conversation with Gia Tolentino, staff writer at the New Yorker and one of the most important writers of our time. Talk about what the killing of the United Health CEO says about the state of the healthcare system in the U.S. all of that and more you'll hear this week. But first, I'm going to share the very first episode of Money Rehab that I was ever featured on with an even more special guest, my mom. And in that conversation, Nicole will also help you find free money. So here's that episode, however cliche it is.

[Nicole Lapin]

And I think you guys know that I am very allergic to cliches. I think we've all had moments where we've thought to ourselves, gosh, I wish money did grow on trees. Unfortunately, we don't have the science to make that happen just yet, but we do have something pretty close, and I think it will make Truman happy. Who submitted this listener question?

[Truman]

Hey Nicole, I've been trying to find creative ways to bring in a little extra money. I just had a baby and I'm even more motivated to grow my own wealth and not only support my daughter, but also not pass on all my bad money habits. Are there any secret money hacks you could share?

[Nicole Lapin]

Well, Truman, you have come to the right place for some secret money hacks. I am about to blow your mind. This is the stuff that when I tell folks, they think it's too good to be true, but it is not. So what is unclaimed money, you ask? Basically, it's money on paper that belongs to someone or that someone is entitled to, but they haven't scooped it up just yet. It's actually very common and there are billions with a b dollars of unclaimed money in the United States. And sir, you could be one of them. Here are the six places you can find some unclaimed money. Number one, your state. If a bank, insurance company, or even state government owes you money and can't track you down, they send your money to the state's unclaimed property office. This is actually really common in a lot of cases. It happens when someone moves out of state and there's an issue with the forwarding address. It's happened to me. I've lived 10 cities in the last 20 years and a bunch of different apartments in those cities. So the money trail often does get lost in the void. To see if this is your lucky day, check out USA.gov unclaimed money number two, your paycheck. If you left a job in the middle of a pay period or you left a job with some unclaimed vacation days owed to you, or if you worked for an employer that broke a labor law, you could be owed money. You can find out if you have money owed to you at this amazing website. They do not pay me to say this. This is not a hashtag ad but I do love unclaimed.org I have found my own money on there. It is genius. Please mosey on over there. We will link this in the show notes and Also on our Instagram page, but I would bookmark it honestly, if I were you. You could also go to the US Department of Labor website. They have a database of workers who have money waiting to be claimed. The dollar that is Department of Labor for short holds unpaid wages for up to three years. So get it done today. You don't want that to expire. Number three A savings bond. I have heard this story a million times. Remember when you were really little and you wanted that shiny bike or whatever, but grandpa gave you that savings bond and you just wanted to rip it up right then and there and then your mom or whoever put it in a shoebox and said you should keep this forever and you'll appreciate when you're old enough, right? You're thinking, yeah, whatever happened to that savings bond? Well, if that savings bond has matured, you may finally be able to get that bike and then some. This is also a very cool website. It is treasuryhunt.gov Seriously, it's like a little treasure hunt for your own money. You can see if you have a bond that has stopped earning interest that you can now cash in. Don't forget, if you're under 18, the bond may be under your parents name, so check that too. Number four A tax refund. There may have been a time where you didn't think you needed to fill out a tax return because you didn't reach a certain level of income just yet, but that doesn't mean you didn't necessarily get a refund. Go to the IRS website IRS.gov to see if you have any unclaimed tax return. Moolah. 5. A utility deposit. This may or may not surprise you, depending on which kinds of landlords you've had on your housing journey. But not every landlord is itching to give you back your security deposit. I've talked to a lot of people who didn't think about their security deposit once they moved out. You know there's a lot of hoopla when you're moving, but now is the time my friends go back and check your bank statement to see if you ever got that security deposit back and start teeing up a follow up email to your old landlord because I'm sure he or she misses you fondly. Number six Class action lawsuits. You know, we've all seen those ads for class action lawsuits or maybe even received random emails. The ads normally broadcast in the dead of night and are usually for some sort of vaginal mesh issue or you know, those casually exploding Samsung phones, but there are actually a ton of active Class action lawsuits right now across a wide range of industries, and you may be eligible to cash in on a settlement. Check out classaction.org database to see if you have any ongoing suits that you could be part of. If you're driving or you're out and about, don't worry. Check the Show Notes. Check our Instagram page, moneyrehabshow, for all of these lovely links. Like I said, finding unclaimed money is common, and these tips are very real. They have legit worked for me in the past. And here is one of our producers also putting it to the test.

[Morgan]

Okay, so here's what happened also. Hi, everyone. It's Morgan, one of the producers on Money Rehab. So I did go to unclaimed.org and spoiler alert, I did have unclaimed money, which is so exciting.

[Morgan Lavoy]

It's weird.

[Morgan]

I guess the college that I went to owes me money. I'm honestly not sure what it's for. But to be totally straight up with you, because of the way that the unclaimed money was sent to New York State, I actually can't collect it online. And I also can't see how much money there is for me. So fingers crossed, it's, you know, a million dollars. But what I have to do now is print out the mail inform and send it in, which is totally fine. There's money out there that I didn't know about that has my name on it. That's awesome. But in terms of the show, I don't want to leave you guys hanging, you know, snail mail. Who knows how long this could take? I thought instead I would try to help someone find some unclaimed money. So I called my mom.

[Lynn Bolger]

Hello, this is Lynn Bolger. I have unclaimed money.

[Morgan]

Hi, Mom.

[Lynn Bolger]

Hi, honey.

[Morgan]

Let's find you your unclaimed money.

[Lynn Bolger]

Sounds good.

[Morgan]

So we went to unclaimed.org first, and there were only a couple pieces of information that we had to put in before we could start the free search. Claimant relationship, personal representative. Are you gonna charge me? Okay, so it says claimant, individual, last name, first name. Now it's asking for your address. And that was really it. So then we submitted it. You have a couple things, but the one that looks most interesting to me.

[Lynn Bolger]

Oh, wait, there's more.

[Morgan]

There's one that just belongs to you, and it's under $25, but there's another one between both you and Tim, and it's over $25, so I feel like we should look into that one.

[Lynn Bolger]

Let's look into that one.

[Morgan]

So to get my mom's unclaimed money, we had to submit a claim, which we did right through the website. Okay. So right now it's asking me for your last name, your first name. So far, so good.

[Lynn Bolger]

I think you know those things.

[Morgan]

I do know those things. Your home phone. I'm just gonna put your cell phone. Okay. I'm gonna pause the recording right now because I'm gonna ask for your Social Security number. All right. Address. How did you hear about us? My daughter. The next page is electronic signature and preview your claim by clicking the agree button below. I certify the following. I am the person whose name I keyed in. Kind of all the information I have keyed.

[Lynn Bolger]

So much overlap.

[Morgan]

DNA, there's a lot of overlap. All the information I have keyed in is true and accurate. Okay. So check if you agree to the above conditions. Check. Okay. You should have gotten an email.

[Lynn Bolger]

Please hold while I shift on over.

[Morgan]

Okay. So the email we were waiting for would tell her what the next step was to get the money that she was owed and how much money she was owed. Do, do, do, do. Refresh, refresh, refresh, refresh, refresh. And then after maybe two minutes, she got the email.

[Lynn Bolger]

Playing with Maine's unclaimed property program. Our goal is to reunite fun, and it feels so good. Please keep the summary for your records. Okay. And here it is. And that would be $25.61.

[Morgan]

How do you feel?

[Lynn Bolger]

I feel like now I can get, like, maybe Dan Dan noodle takeout. And that feels great.

[Nicole Lapin]

Yay. For today's tip, you can take straight to the bank. Do as our amazing producer did. And as I said, go to unclaimed.org right now. That is honestly the best place to start to try and find some of your buried treasure. And that's it for today's episode. I'll see you here tomorrow for some more Money Rehab. But in the meantime, don't do anything with your money I wouldn't do even if you find more of it. Tonight, spend my money.

[Morgan]

Money, money.

[Nicole Lapin]

Money Rehab is a production of Money News Network. I'm your host, Nicole Lapin. Money Rehab's executive producer is Morgan Lavoy. Our researcher is Emily Holmes. Do you need some Money Rehab? And let's be honest, we all do. So email us your money questions moneyrehaboneynewsnetwork.com to potentially have your questions answered on the show or even have a one on one intervention with me and follow us on Instagra at MoneyNews and TikTok MoneyNews Network for exclusive video content. And lastly, thank you. No, seriously, thank you. Thank you for listening and for investing in yourself, which is the most important investment you can make. This episode is brought to you by Progressive Insurance. Do you ever find yourself playing the budgeting game? Well, with the name your price tool from Progressive, you can find options that fit your budget and potentially lower your bills. Try [e-mail] Progressive Casualty Insurance Company and affiliates Price and coverage match Limited by state law not available in all states.