October 17, 2013

Interview with iFlyflat – The Frequent Flyer Points Expert

Interview with Steve-Hui of iFlyflat.com.au

Ever wondered how to fly first class? To find out, I sat down for a coffee to interview frequent flyer points expert, Steve Hui of iFLYflat. In this interview I ask Steve about his unique perspective on travelling in style using frequent flyer points.

Q: Tell us a bit about yourself and why you decided to start iFlyflat

iFLYflat was started from my frustration of hearing stories about people redeeming their hard earned points for normal everyday products.
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August 12, 2013

What Does a Financial Plan Include?

Financial Planning

A financial plan is used to analyse your financial situation, as well as your goals, and from that information, address areas that could be improved. It can help in many situations, especially for those looking to take the next step in their life, such as getting married, purchasing a home, having children or retiring.
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August 5, 2013

Deciding Your Financial Goals

Financial Planning

People often turn to a financial planner to help simplify their finances and set achievable financial goals, providing greater confidence to plan for their future. These include such things as budgeting, cash flow management, savings plan, superannuation, tax planning, home loan repayments, debt management and reduction, children’s education, insurance, investments and retirement.
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August 1, 2013

What’s in a Name? Community CPS Reinvents Itself

As of this morning, Community CPS Australia, one of the nation’s thee largest credit unions with over $4 billion in assets, has become a mutual bank and changed its name to Beyond Bank Australia. We spoke with Chief Executive Officer Robert Keogh to find out what prompted the change for the institution, what it means for its 200,000 existing credit customers, and what it hopes to accomplish in this reincarnation.

Beyond Bank's new website.

Beyond Bank’s new website.

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July 30, 2013

Why Use a Financial Planner?

Financial Planning

Planning for your future is important, especially with regard to your finances. Each stage of your life will require different money management. Whether you’re looking to buy your first home or planning for retirement, a financial planner acts as your ‘finance coach’, helping you reach your goals & ensure that you and your family have financial protection. Importantly, financial planners exist to help change clients lives for the better and they undergo rigorous training and education to ensure they can deliver this.
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May 13, 2013

8 Startups Launched on a Credit Card

City Streets

From violin shops to property empires, plenty of businesses have started on a credit card. Most of them have failed – but some of them are thriving a decade or more later. And some of them are Google, Inc.

The pros of using a credit card to fund a startup are obvious: you don’t give up any of your equity to others. You don’t need anyone’s approval. You don’t have to pay interest on loan money that you’re not using.
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May 10, 2013

The 5 Worst Airlines for Outrageous Credit Card Surcharges

Around the world, airlines rake in hundreds of millions of dollars every year charging for everything from a second checked-in bag to printing your boarding pass. Reservation changes in the U.S. alone brought in an extra US$2.38 billion in 2011, for example.

But a select few stand out for continuing to charge extra for paying with a credit card, despite a worldwide attempt to curb the practice and save consumers millions in the process.
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May 8, 2013

Refinancing When Your Equity Falls

Long gone are the heady days when you could sleep soundly in the knowledge your property portfolio would magically jump in value year on year. So what happens when it stalls or even drops? Is that it for your investment journey because the banks won’t go near you? Your Investment Property asked the experts to find out what you can do when your trip hits a roadblock.

As many property owners have been made painfully aware of in recent years, what goes up can also come down, often with a thud. No-one is denying it’s a tough economic climate but it’s in just these conditions that smart investors see opportunity. Many a fortune has been made in tough times, but how can you get your hands on much-needed money when your own portfolio needs resuscitating?
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May 6, 2013

5 Frequent Flyer Miles Hackers Worth a Million Points or More

Frequent flyer miles are big business: the Economist estimated that frequent flyer miles accumulated just up to 2005 amounted to $14 trillion. At an estimated 1-2 cents value per mile, that’s worth $700 billion – more than ‘all the dollar notes and coins at large’. Criminals in Brazil and Germany are reportedly using frequent flyer miles for cyber crimes and transactions, in one instance selling stolen credit cards for stolen air miles. It’s less liquid than the dollar, but it has become a currency.
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May 1, 2013

Credit Card Surcharges: On the Way Out?

The Reserve Bank of Australia has ruled to cut credit card surcharges earlier this year – which could save consumers an estimated $350 million a year in extra fees. The biggest culprits, however, are resisting the change, saying their extra fees only cover the added costs.

The majority of Australian retailers do not tack on a surcharge on credit card payments – but about a third, or around 100,000 companies, levy an additional 2 to 4 percent of the transaction value. An RBA review found that only 23 per cent of small business tack on a charge, compared to 44 per cent of large retailers. Notorious examples exist as well, such as the 10 per cent surcharge levied on taxi fares paid with credit cards, as well as ‘flat’ fees charged by several airlines which often tack on a surcharge on cheap flights amounting to well over 20 percent of the ticket price. That is all likely to change this year.
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