GoT’s battle with Aussie town

WHEN HBO took on a TV station a bloody battle loomed. And the outcome was as unexpected as any episode of GoT.

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Costco adds fire to grocery battle

US retailer Costco is expected to drive further competition in the Aussie grocery and fuel market as it pushes down prices, according to new research.

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Aussie stocks edge higher

THE Australian market has edged higher today following gains offshore late last week as investor focus shifts to key Chinese economic figures due out.

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Winter job fairs planned for Pocono ski resorts

Does it seem a bit soon to think about winter? Not if you are in snow business.

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Reporter drowns in bizarre accident

A 31-YEAR-OLD doctor and medical reporter specialising in “meditation medicine” has died in a bizarre accident while on holiday in Hawaii.

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Is This Your Last Chance to Refinance?

Federal Reserve chairwoman Janet Yellen has signaled that interest rates will likely rise in the next year. Photo: Day Donaldson

If you follow any sort of financial news, it’s hard to escape buzz about interest rates. After intense scrutiny from every corner of the media, the Federal Reserve opted to leave rates at record lows during its last meeting in September. And recent lackluster economic data has made a rate hike before the end of the year seem less likely. But that hasn’t stopped the growing anxiety over when the Fed will finally change course.

Why all the speculation? Simply put, it’s because the Fed’s action (or inaction) on interest rates can have a ripple effect across the entire economy, from the stock market to job wages to home buying.

Below, we’ll focus on what a potential interest-rate rise can mean to you, and whether now might be your last chance to act on some big decisions, such as pulling the trigger on that home purchase, refinancing your mortgage, or stashing your money in that long-term CD.

What’s the Federal Funds Rate?

First, a quick refresher on what we’re talking about when it comes to interest rates and the Federal Reserve. The federal funds rate, set by the Federal Reserve, is the rate banks and credit unions use when they lend money to each other.

Generally, the Fed keeps this rate low (as it is now) to encourage banks to lend, benefiting businesses and stimulating the economy. When the Fed raises rates, it’s typically to combat inflation — that is, the incremental rise in prices for goods and services that cuts the purchasing power of your mighty dollar.

The federal funds rate is not a single number but a range: currently 0% to 0.25%. That range has been unchanged since December 2008, when officials dropped it to that rock-bottom level while the country was mired in a recession.

But now, the economy has been growing at a good clip for a while, and Federal Reserve Chairwoman Janet Yellen has recently said the Fed won’t hold off on an interest rate hike much longer.

Why Does This Matter to Me?

The Fed’s actions on interest rates can trickle down to you in many ways. When the Fed raises rates, you could pay a higher interest rate for mortgages, car loans, and credit cards. That’s because banks are paying more to borrow from each other at higher rates, so they’re passing some of that cost onto you.

Is the news all bad, though? Happily, no. While rising interest rates aren’t a good thing for you as a spender, they’re a very good thing if you’re a saver. As rates tick up, you will eventually get a little bit better of a return on your investment if you’re leaving your money in savings accounts, money market accounts, or CDs.

If Rates Are Going to Rise, What Should I Do?

If you need to borrow money, experts say you should consider doing it soon. For more than half the global economy, including the U.S., this is — literally — the best time to borrow money in all of history, a Bank of England economist recently found.

More specifically, you may want to consider the following:

Get the loan you need

Even a small bump in interest rates can cost you a significant sum on loans, especially for higher-dollar, long-term debt such as a mortgage, home-equity loan, or private variable-rate student loans.

At the beginning of October 2015, the benchmark rate for a fixed-rate 30-year loan was 4.01%, according to Bankrate. Borrow $200,000 at that rate, and you’re looking at paying about $956 a month and roughly $344,154 over the life of the loan. Borrow the same amount at 4.5%, and you’ll be paying $1,013 a month and $364,813 over the life of the loan.

Even if the extra $60 a month doesn’t throw a monkey wrench into your financing plan — and if you’re stretching to qualify for a mortgage, even a slightly higher monthly payment can derail your home purchase — look at the long term: You’ll be paying $20,000 more for your mortgage because of a mere 0.5% bump in your rate.

Despite that, experts say you shouldn’t panic. Conventional fixed-rate mortgages are tied to the 10-year Treasury note, which typically moves only gradually in response to interest-rate changes. Adjustable-rate mortgages, however, are more vulnerable to rate jumps in the short term.

For car loans, you’re unlikely to feel much heat from a small rate bump by the Fed. That’s due to both the shorter term of these loans and the fact that automakers, facing stiff competition, kick in a lot of their own cash to keep rates low and encourage buyers. However, if rates keep rising, car loans will eventually catch up, too.

Consider refinancing

If you’re already locked into your mortgage, especially if it’s an adjustable-rate loan, consider refinancing soon before rates go up. Just be sure to consider closing costs in your decision, which can be significant.

For instance, maybe you’ve determined that refinancing your mortgage at current rates can save you $200 a month. That’s great — but if you pay $6,000 in closing costs to refinance, you won’t actually break even for two and half years, at which point you’ll start to see actual savings. So if you think you might sell your home in the near future, refinancing might not be a great idea after all.

Consolidate your debt

Credit-card interest rates are unlikely to jump quickly, but they could start to tick up slowly after the Fed takes action. That’s because the prime rate benchmark on which your credit-card APR is based tends to track the federal funds rate. In a rising-rate climate, credit-card companies are likely to get more stingy about deals like 0% introductory rates.

Because of that, now might be an ideal time to consolidate your higher-interest debts with a single low-interest debt consolidation loan or a balance transfer credit card with a low introductory rate, provided you can pay it off before that rate adjusts to normal. Before you consolidate, though, remember this important caveat about debt consolidation: It can backfire if you don’t turn over a new leaf with your spending habits. In other words, don’t go on a shopping spree when lower credit card payments give you some budgetary breathing room, or you’ll find yourself right back where you started.

Don’t lock in your savings

You might be tempted by a five-year CD rate that outpaces the meager yield you’ll see from a typical savings account, but locking in that rate now might not be the best move. When the Fed raises rates, yields are also likely to tick up for savers, though it may take a year or two to see a significant bump in rates.

If you’re interested in long-term CDs, consider holding off for now, or trying out a CD ladder by investing in CDs with different term lengths that will let you invest at least a part of your money when rates rise in the future.

What If I’m Not Ready?

Not ready to pull the trigger on a big financial decision? Don’t panic, and don’t rush. Despite all of this breathless Fed-watching, no one expects rates to rise dramatically in a short period of time.

Instead, a longer, more meaningful rise could come in small increments. The first hike is expected to be a relatively small 0.25%, for instance, but if the Fed decides to keep going toward a “more normal” 3%, the impact will be much more dramatic.

Bottom line: Don’t let buzz about interest rates rush you into doing anything you haven’t thought through. However, do keep in mind that rock-bottom interest rates have only one place to go: up.

The post Is This Your Last Chance to Refinance? appeared first on The Simple Dollar.

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19 Frequent Flyer Resources Every Traveler Needs to Bookmark

Who out there would like to take a flight worth well over $1,000 — for less than $50 in fees?

[Raises hand.]

I’m assuming you would, too.

Though it might sound too good to be true, it’s not. With a little effort and self-education, you could be taking free flights as soon as next year.

You’ve hopefully gotten started on your travel hacking journey by reading “free flights 101” and following our favorite frequent flyer blogs.

Now it’s time to add some serious tools to your arsenal. And by tools, we mean frequent flyer websites and resources where you can scope out deals, further your education and actually redeem those points and miles for free flights.

Here are 19 resources every frequent flyer needs:

General Info

As you learn more about the intricate world of miles and points, you’ll grow to love these info-packed resources.

1. WebFlyer

WebFlyer offers several valuable features for frequent flyers: extensive reviews of each loyalty program, the ability to compare different programs head-to-head, a mileage converter that shows how you can transfer miles between programs and a calculator that estimates how many miles you’ll earn from flying a certain route.

2. TravelSort

Though TravelSort is actually a luxury hotel membership service, Hilary Stockton’s helpful articles are worth a visit for any rewards traveler; they cover everything from getting to India with miles to convincing your spouse frequent flyer miles are worth it.

3 and 4. Extra Pack of Peanuts and Zero to Travel Podcasts

Not all of us have time to read blogs and websites.

If you prefer learning on-the-go, check out the Extra Pack of Peanuts and Zero to Travel podcasts; both share travel stories and tips that will help you become a better travel hacker.

Communities

Wondering what’s the best way to use all those Club Carlson points? Or just want to commiserate about the terrible service you received on Delta? Here’s where to turn.

5. InsideFlyer

Formerly known as Milepoint, the new InsideFlyer has added features in hopes it’ll become your one-stop shop for frequent flyer info.

In addition to its 200+ forums, you can now manage both award programs and travel itineraries from within the platform.

6. FlyerTalk

As the oldest and largest frequent flyer community, FlyerTalk can be a fantastic resource — just try not to get intimidated by the vast knowledge of its members!

7. Travel Hacking Cartel

Though the Travel Hacking Cartel is one of the only paid services on this list, it can be worth it for people who don’t have time to sift through a million offers.

For $15 a month, you’ll receive email alerts of the best deals as well as access to travel hacking tutorials.

Credit Cards

As we’ve discussed before, credit cards are one of the quickest ways to rack up reward points and miles. These sites can help you decide which cards are right for you.

If you’re not sure you can be responsible with a credit card, though, don’t risk it; no rewards are worth going into debt. (Here are six ways to earn frequent flyer miles without credit cards.)

8. Credit Karma

Before applying for any credit cards, it’s vital to check your credit score. If it’s not in the 700s, then you should focus on raising your score with fee-free cards and paying off debt.

To get your credit score for free, check out Credit Karma.

9. Mint

Another important step to take before applying for credit cards is getting your budget in order. I use and love Mint, which helps you manage your bank accounts, credit cards and loans — all in one convenient site or app.

10. The Credit Card Fly

The Credit Card Fly (which, full disclosure: I write for) is a free email newsletter that alerts you whenever a great credit card offer pops up. If you don’t want to keep track of different sites — and simply want to know when the very best deals are released — sign up.

11. Cards for Travel

The name says it all. Cards for Travel, a site created by the Travel Hacking Cartel’s Chris Guillebeau, focuses exclusively on the best credit cards for travel rewards — and even has a section listing cards for Canadians.

12. NerdWallet

With a clean and user-friendly interface, NerdWallet is our first stop for comparing credit cards. Its search function lets you hone your selection by credit score, fees, typical monthly spend and estimated “sign-up value.”

13. CreditCards.com

Once you have a few cards in your wallet, it can be tough to remember which offer the most rewards on, say, groceries or gas.

CreditCards.com’s new WalletUp app solves that problem by determining your location — be it a pizza parlor or an office supply store — and advising you which card to use.

Tools

What’s the difference between successful frequent flyers and people who get overwhelmed and quickly give up? The tools at their disposal.

Use the following sites to stay at the top of your travel rewards game.

14. AwardWallet

If you’re going crazy trying to remember information about all your loyalty programs, AwardWallet will be your new best friend.

This fantastic tool helps you keep track of your account balances, login information and mileage expiration dates.

15. ev’reward

As we’ve noted before, online shopping is a great way to earn miles. So don’t buy anything without first checking ev’reward, which tells you how many bonus miles you’ll earn for logging in to various shopping portals.

16. Expert Flyer

ExpertFlyer is one of the few paid services we recommend; if you plan to frequently redeem points and miles for free flights, its search engine is an incredible tool.

Basic membership costs $4.99 a month, or you can get a full year of premium membership for $99. One new (and free!) feature is seat alerts, which let you know when better seats become available on your flight.

17. Feedly

Need a way to follow all those frequent flyer blogs? Try Feedly. This free tool aggregates the RSS feeds of your favorite blogs in one easy-to-read location.

18. Hootsuite

Twitter is one of the best places to find out about hot deals — both in terms of frequent flyer promotions and cheap flights — but it’s also overwhelming.

Use Hootsuite to tame the madness by creating lists of your favorite travel tweeters, or following hashtags like #airfare, #awardtravel or #frequentflyer.

19. Google Calendar

If you use credit cards to earn rewards, keep track of their yearly anniversaries with Google Calendar or something similar. Since cards’ annual fees are often waived for the first year, many travel hackers cancel them before that first anniversary rolls around.

Alternatively, if you want to keep the card, a month before the anniversary is a good time to call and ask for a “retention bonus” in the form of a statement credit or extra miles.

Learning to hack travel can seem complicated at first — but we promise it’s worth it. Use these sites to expand your frequent flyer knowledge a little bit at a time, and let us know if you have questions!

Your Turn: What’s your favorite frequent flyer website from the list? Which did we miss?

Disclosure: We have a serious Taco Bell addiction around here. The affiliate links in this post help us order off the dollar menu. Thanks for your support!

Susan Shain, senior writer for The Penny Hoarder, is always seeking adventure on a budget. Visit her blog at susanshain.com, or say hi on Twitter @susan_shain.

The post 19 Frequent Flyer Resources Every Traveler Needs to Bookmark appeared first on The Penny Hoarder.

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This is the future of schools

THIS San Francisco school is being billed as the school of the future. Even Mark Zuckerberg has invested in it.

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Why farmers are finally smiling

OUR minerals helped build China, now we have to feed it. Once struggling Aussie farmers are striking it rich — with beef.

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