Pinch, punch, its first of the month and all that. Most Australian families don’t eat much kangaroo meat. Tourists find it surprising that we eat it. The truth is that the kangaroo is ubiquitous in supermarkets, it’s the nation’s iconic animal yet negative ideas towards eating kangaroo meat persist. Some farmers think ‘roos’ to be somewhat of a pest. Some experts claim that kangaroo meat is not only tasty (it’s similar to lamb in flavour but a bit more gamey), but may also be a better alternative to other red meats for several reasons. So before you turn your nose at a roo strew, check out why kangaroo meat should end up on your family dinner table.

1. High in Protein, Low in Fat

Naturally, kangaroos provide a low fat, high protein meat because they are free-range, which means that they get plenty of exercise to build lean meat. They also aren’t stuffed with fatty grains like other livestock — they’re grass-fed, which means that they have the appropriate “healthy-fat” ratio. In fact, nutritionists say that Kangaroo meat is 98% fat free. Thus this high protein, low-fat meat has tons of benefits that can lead to lower cholesterol levels and reduce chances of getting cardiovascular diseases. Not to mention kangaroo is a great source of omega-3s, which is needed to promote healthy cell growth.

2. It’s the Cheaper Alternative

Here’s a money saving tip for your kitchen! Kangaroo meat costs less. While a recent increase in demand for Kangaroo meat has prompted the meat industry to slightly increase its prices for this leaner meat, it’s still relatively cheap, at about $18 per kilogram. You can get some yummy roo steaks compared to $30 a kilo for beef steaks and $23 a kilo for lamb.

3. Easier On the Land

Last but certainly not least, many environmentalists claim that eating kangaroo meat is a much better alternative than beef and other “organic” harvested animals because unlike other meat sources, Kangaroo can actually help sustain Australia’s biodiversity, which has been in a dire crisis for several years. How so? These soft-footed mammals require relatively low amounts of water and food to live and do not require large quantities of land to be cleared for grazing purposes, which means Australia’s grasslands and water source can stay intact.

In Conclusion

While it may seem strange to eat kangaroo, it’s important to know that by law the government requires a select number of kangaroos to be exterminated every so often to avoid an over population of the species. Thus, by adding some kangaroo meat to your weekly shop you’ll actually be doing a favor to society.

This is a guest post by Eliza Morgan who is a full time blogger. She specialises in writing about business credit cards. You can reach her at: elizamorgan856 at gmail dot com.

This is another post from Credit Card Compare Blog - The Credit Letter, a creative personal finance blog where we love to share money saving tips and credit card reviews to optimise your wallet!

Gold is a commodity that has attracted a great deal of interest in recent months – a circumstance that should not surprise anyone familiar with the history of this precious metal. Since ancient times, gold has been regarded as a safe way to store wealth. Though no investment is completely free of risk, gold is still seen today as a way to protect and build assets, particularly during trying economic times such as we have seen in recent months.

As governments throughout Europe implement austerity measures and struggle to meet their debt obligations, more investors are regarding gold as a safe haven for their funds. This has caused the price of the metal to steadily climb. In January of 2011, the average monthly gold price was £858 or US$1,356 per troy ounce. By March the average had increased to £881 or US$1,424, and in May the average reached £925 or US$1,510. On the last trading day in July, the price reached £990 or US$1,626, indicating that the demand for gold continues to build.

In fact, the average monthly price for gold has shown no decline since January of 2010, when it took a slight dip. Longer-term data also support the idea that investing in gold has been on the rise for years. The price per troy ounce has steadily increased since 2002, with a growing number of investors deciding to buy gold online as more trading migrates to the World Wide Web.

It is not difficult to determine the reason behind gold’s attractiveness at the current time. Most nations in the world now use a fiat currency – a paper currency that is backed by little besides the people’s faith that the currency has value. Fiat currencies can be readily manipulated by governments in distress; the government can decide to print more money than usual, causing the nation’s banknotes to fall in value as inflation takes off.

As the global economic situation becomes more precarious, investors are more likely to worry that inflation may eat away at the value of assets held in cash. One solution to this is to purchase gold and hold that instead of cash. Gold cannot be manufactured on demand the way that paper currency can, and its scarcity essentially ensures its continuing value. These factors have led to increased numbers of investors purchasing gold, as it can be regarded it as a stable investment during times of economic uncertainty.

Carlo Pandian, web marketer at TugSearch.co.uk , he is passionate about investments in art, food and precious metals.

This is another post from Credit Card Compare Blog - The Credit Letter, a creative personal finance blog where we love to share money saving tips and credit card reviews to optimise your wallet!

In Australia we are fortunate enough to have a competitive banking market where there are many banks, big and small, vying to attract your business. When it comes to credit cards, there is one type that has proven itself as incredibly popular with consumers – the balance transfer credit card.

Not only do consumers love them, but the banks do too because they can attract new customers away from their competition. And how do they do that? By offering cheaper balance transfer interest rates and longer introductory periods than the other guys.

So if you’re in the market to transfer your balance to a different card with a new bank, where do you look first? Here’s our guide to what we think are the 10 best banks to switch to.

10th – Westpac

We list all 12 Westpac credit cards and all of them offer balance transfers for 6 months. The lowest balance transfer rate that they offer is 0.99% on the Earth cards and Singapore Airlines cards. All the rest of their cards have higher balance transfer rates. Some of the credit cards from Westpac have no annual fee for the first year but on your second year you will be paying an annual fee.

9th – Commonwealth Bank

CommBank does offer a range of credit cards with balance transfers, but compared to the rest of the market they are not the most attractive available with above average balance transfer rates and short 5 month periods. However, their credit cards do tend to have a very cheap annual fee, if any, and so they are attractive to those who just want a credit card in case of emergency that costs nothing to own.

8th – Bankwest

Although Bankwest do have many credit cards with a balance transfer offer, their rates don’t tend to match the most competitive banks. However, that’s not to say that they aren’t competitive in other ways for Bankwest often offer one combined low rate on balance transfers and purchases. If you’ve got a small balance and will use your card regularly, theirs is an attractive deal. [Click here to compare Bankwest balance transfers]

7th – St George/BankSA

They may be renowned for their customer service, but St George have been known to run fairly good balance transfer offers in the past, particularly on the Vertigo and Amplify credit card. Interest rates tend to be on a par with those of ANZ and Aussie. [Click here to compare St George balance transfers]

6th – Bank of Queensland

This comparatively smaller bank may not have the nationwide clout of some of their competitors, but their balance transfer deals are appealing to many. While shorter in duration that most, BoQ have combined low rates on both balance transfers and purchases so that users can save even if they transfer their balance and use it to buy with.

5th – Aussie

Aussie’s MasterCard has proven extremely popular with consumers because of low rates combined with a cheap annual fee, making it attractive to the average consumer who wants a ‘no-frills’ credit card. Their promotional rates on balance transfers tend to be quite similar to those of ANZ.

4th – ANZ

ANZ are strong when it comes to balance transfers and have been for a long time. Their speciality is to offer a low rate (not 0%) for a long time. Locking in a low rate for 12 months is not uncommon with ANZ, but their balance transfer offer has been known to stretch for as long as 18 months. [Click here to compare ANZ balance transfers]

3rd – HSBC

They may not have the same broad range of offers as some of the other banks listed here, but HSBC are not to be passed up if you’re looking to transfer a balance. Quite often they will run a 0% offer lasting for up to 6 months on the HSBC credit card, which in Australia is very competitive. However, this offer tends to be available in spits and spats, unlike some of the others.

2nd – NAB

Out of the ‘big four’, NAB’s balance transfer offers have consistently shone. In fact, at one stage in early 2011 they ran an offer of 0% on balance transfers for 12 months with their gold card. NAB’s Gold card has a strong balance transfer while the Low Rate and Low Fee cards are also particularly strong compared to others with near 0% interest on balance transfers. [Click here to compare NAB balance transfers]

1st – Citibank

This is a worldwide banking operation with a large presence here in Australia. Traditionally they have been extremely strong in terms of their balance transfer offers and often have the best balance transfer deal available on the market. Their strongest cards are the Citibank Clear Platinum and the Citibank Platinum, with the platinum version offering a very good combination of balance transfer with rewards program. [Click here to compare Citibank balance transfers]

The Top Balance Transfer Offers Currently Available

	Credit Card Offer	Purchase Rate (p.a.)	Balance Transfer (p.a.)		Annual Fee	Apply now
			rate	period
	St.George Vertigo MasterCard Low interest rate & long balance transfer deal. Fast 60 sec approval.	13.24%	0.99%	12 months	$55	Featured Card more info
	ANZ Platinum Credit Card Overseas travel insurance & domestic flight inconvenience insurance. No annual fee for first year.	0%	0%	6 months	$0	Editor’s Choice more info
	CUA Platinum MasterCard Credit Card Earn shopping rewards points as you spend.	20.24%	0%	9 months	$89	Editor’s Choice more info

This is another post from Credit Card Compare Blog - The Credit Letter, a creative personal finance blog where we love to share money saving tips and credit card reviews to optimise your wallet!

If you’re unfortunate enough to have had the credit limit on your credit card reduced without warning, you might be wondering how it will affect you and what on earth you can do about it. In these financially volatile times, a change like this can be worrisome. Perhaps the worst part of all is that a sudden credit limit drop can significantly affect your credit rating and thereby cause you all sorts of grief, both now and in the future.

Here’s how a credit limit reduction can impact your credit rating. Say you have a $900 credit card debt and a $10,000 credit limit. Because you’re only at 9% of your credit limit, your credit rating, if anything, will be boosted, as long as you keep on top of your repayments. You’ve got plenty of breathing space. Even at 30%, your credit limit shouldn’t be negatively affected. But if the credit limit is reduced to $1,100, you’re suddenly at nearly 90% of your credit limit. If you don’t get that debt down fast your credit score will start to make its way down the gurgler. This will impact on your ability to apply for credit cards and loans in the future. It could even affect your ability to get a rental property as many landlords run credit checks before handing the keys over. No-one will be giving cards or loans or housing to someone with a dodgy financial record. So you want to get this sorted!

What can you do? As unfair as it all seems, it comes down to you taking some smart and prompt actions to protect yourself and your credit rating. These include:

Act Fast & Keep Away From Your Limit

The first thing you want to do it if your credit limit has been cut, especially if the cut is putting you very near your limit, is act fast to make sure you keep well away from your limit. Cancel any auto payments that could take you close or over your limit and pay down as much of the debt as you can. It may be easier said than done but you want to do anything in your power to not let things get any worse. If you go over your limit you will be giving the credit card company a legal and legitimate reason to raise your interest rate. This will only make the downward spiral worse so whatever happens, don’t go over your limit!

Apply for a New Credit Card

Thankfully it will take a number of weeks for changes by your credit card to hit your credit report. Applying for a new card will increase your chances of getting your card approved before your credit score decreases. If you can get approved for a card with a high credit limit, this will give you access to credit. You can then transfer some balance from the old card to the new, again, keeping you away from your newly reduced limit and protecting your score. Having a new card that you keep on top of can also help your credit score. This is a smart move as your utilisation ratio is now much lower now that you’ll have access to more credit, but using a lower percentage of the overall amount available. Check our page of the best balance transfer offers to find your new card.

Pay off your Balance

Whilst this isn’t always a piece of cake, it’s something that will work in your favour if you can possibly do it. Make it a priority, as doing so will help to protect your credit rating and your future access credit. Do think realistically though. You don’t want to pay the debt down, only to need a lot more credit later. Also take a look at the big picture: is it more important to you to have a lower balance or even be debt free, or would you rather get your credit utilisation rate down so you can maintain your credit rating?

Keep Careful Watch on your Credit & Credit Score

Always check your statements and pay off as much of the balance as you can each month, promptly! Don’t get into the habit of just paying back the minimum monthly payments, unless you like the thought of being in debt indefinitely. Additionally, check your rating and work hard to keep it as near to perfect as you can. There are a number of websites and companies that can help you find out your credit rating. You can get a free report from Dun & Bradstreet, usually delivered within 10 days.

In Conclusion

Unfortunately, as consumers we are now at the mercy of increasingly desperate banks who are struggling, with the rest of us, in these desperate times. As a result it’s wise to plan for the worst and stay out of debt as much as possible. Keeping on top of your credit card accounts, paying down debt, and carefully defending your credit score are not luxuries, but necessities today. A credit limit cut in times like these is the last thing most of us want or need but smart, decisive action can help you avert the worse. Your credit rating is in your hands!

Image: Ollie Crafoord

This is another post from Credit Card Compare Blog - The Credit Letter, a creative personal finance blog where we love to share money saving tips and credit card reviews to optimise your wallet!

The Credit Letter has blogged in the past about getting to grips with your personal finances, what to do when trouble strikes, why everyone should have an emergency fund in place and how to pay off credit card debt as part of doing the debt snowball technique. Here’s a guest post from David Kaplan from Rate Detective to explain how life insurance fits into the mix.

If you’ve considered taking out life insurance, now is the perfect time to act. Life insurance provides you and your loved ones with financial security even when you’re no longer around.

When you pass away, your income will no longer cover the mortgage or monthly household bills. For this reason, life insurance is the safest way to insure your family against financial disaster. Although many view the monthly premiums as a major deterrent to taking out insurance, the benefits afforded by the policy include peace of mind and financial security for your family and loved ones. That’s something you simply can’t put a price on.

Tip 1: Cheapest Isn’t Always The Best

When taking out a policy, the cheapest isn’t always the best. It’s important to compare policies and do the maths to ensure the policy’s lump sum is sufficient and strategically invested.

Tip 2: Indemnity Insurance vs. Agreed Value

With indemnity insurance you need to provide your proof of income on time of claim. Whereas, with agreed value income you will not be required to show proof of income on claim. However, when you take the insurance cover out you need to provide proof of your income.

Tip 3: Tax Deductibles

Unlike life insurance premiums, income protection insurance premiums are tax deductible meaning you can claim tax back on your monthly premiums.

Tip 4: No Medical? No Problem?

Be weary of insurance offers that cover you without medicals as they are often the basic insurance coverages. In order words, if your health is in good condition then opt for a medical.

Tip 5: Slip, Slop & Insure

Look at taking out trauma insurance. Many of us Australians love the sun and the beach, but unfortunately many of us at some point in time will land up with some form of cancer. Trauma insurance will pay out a lump sum if diagnosed with cancer.

Do you have life insurance?

This is another post from Credit Card Compare Blog - The Credit Letter, a creative personal finance blog where we love to share money saving tips and credit card reviews to optimise your wallet!

Ever tried not paying your credit card bill at the end of the month? Sometimes when you’re swamped with bills and not very organised you can let things slip, but this will have nasty consequences. So if you are in any doubt as to why you should keep paying, here’s some clarity for you!

You’ll be Charged More Interest

Most cards have high standard purchase interest rates. Even if you make the payment but are late, you’ll find that you’ll probably be charged interest on all your purchases from the date you bought each item. It’s important to read the fine print in the terms and conditions of using your credit card so you‘re aware of this.

Goodbye Introductory Interest Rates

Perhaps you got your existing credit card after transferring your balance from your old card to take advantage of the lower balance transfer rate. Well, if you continue to miss your payment you can wave goodbye to that introductory offer. Some credit cards offer a combined low introductory rate on purchases and balance transfers, which can be upped to the rate it would revert to (usually the cash advance or purchase rate) earlier when you mis payments. This can cost you hundreds of dollars if you’ve run up a big debt.

Your Credit Score Goes Through the Floor

If you’ve been missing payments your credit rating will get very bad, very fast. This will cause you difficulty in many areas. Your car insurance can go up, you may have trouble trying to rent accommodation and getting a bank account can be difficult. Your future prospects aren’t much brighter either as a damaged credit rating will make it much more difficult to get approved for a home loan. Those missed payments can haunt you for many years to come!

Your Credit Limits Drops

If you can’t pay your bills on time, then expect the bank to reduce your credit limit. Not only will this inhibit you from further spending on your card, which may not actually be a bad thing, but it also also changes your credit utilisation ratio. And if you’re wondering how that affect you, here’s why this is a bad thing. You credit utilisation ratio is your ratio of debt:available credit. So when you have $10,000 of available credit and a $2,000 balance, your credit utilisation is quite low. However, if the bank cuts your credit limit to $3,000, for example, your utilisation ratio is now much higher. The general rule of thumb is the more credit used, the more damage to your credit score. And as you can see above, that’s not a good thing! Read this post for help with dealing with a credit limit reduction.

Hassle From Creditors

Next your creditors will be phoning you and hassling you for payments and if things aren’t resolved they will eventually come after your assets through the legal system. Creditors may eventually pass the debt off to a debt collection agency, and these guys aren’t known for their friendliness. Expect to get awkward phone calls at work chasing you for payment, calls at home, to your mobile (if they have the number) and plenty of red letters. And if you still ignore them, bailiffs could pay you a visit to take some of your assets to pay for your debt. None of these are good options.

Don’t Let it Happen to You!

The longer you stay in debt, the more debt you will accrue through interest and the higher the chance that you will lose everything if you don’t sort things out. It’s not worth playing the running and avoiding game – you won’t win. Peace of mind awaits when you face the facts and work hard to reduce and eliminate your debt as quickly as possible. Check out this post for some ideas on where to start if you’re in this slippery position.

The bottom line is that delaying or avoiding payments is not in your best interests. You’ll pay for it dearly and the sooner you start to get on top of debt, the better. There are plenty of helps out there and you are not alone – don’t delay!

This is another post from Credit Card Compare Blog - The Credit Letter, a creative personal finance blog where we love to share money saving tips and credit card reviews to optimise your wallet!