hi everyone. welcome to "on the money." it new year is almost here but there's still for money moves. the next california gold rush legal, recreational marijuana sales are about to begin what could possibly go wrong lacking to escape the weather. should you buy now or wait an app that help hads you decide the latest gizmos and cool electronics you're going to want in the new year. "on the money starts rig" startw

>> your money, your life, your future we begin with 2018 rith around the corner, what could it future hold? first, on where the economy may go next. a look ahead is this week's cover story. 2018 could be a year of big change for monetary and fiscal policy here's what could happen first, growth in the u.s. could average as much as 3 mer as the u.s. gets a left from overseas growth and stimulus from a tax bill that will be an improvement from the last several years -- it question is whether it gains with last or if they're just one-time events. and the u.s. budget deficit will need more growth to pay the tax cut bill bigger deficits could raise interest rates and the fed is

likely to hike interest rates three times as the new chair but if growth really takes off, ta could consider a fourth hike. 2017 saw a big slow down in the housing market, not in prize but home sales because there was nothing to buy 2018 will fought be much better. sales slow more. sales could become even more sluggish as the supply situation worsens. yes, home builders will continue to if had crease production but slowly and not the entry level where demantd is highest that could squeeze would-be buyers back on the sideline. all that demand without much supply will keep it heat on home prices and affordability will become a much bigger issue especially since they wipe out mortgage interest in high-cost

areas. the biggest move in 2018 could be in the mortgage market and the elephants in it, namely fanny may and freddy mack. private investors seem not only ready but eager to get back in the mortgage game. as for mortgage rates, most predict they will move higher but most predicted that the last two years and were wrong our thanks to dianna and steve leaseman, here with money moves to get the new year off to a smart start. i mean it smart part is coming into play because there's so much unknown about 2018. rets rr take first the new tax reform law how will we wefect what we pay to the government? >> it's more important than ever that they sit down with an accountant or financial professional because the way you dayour taxes might change.

itemizing might not be right for you anymore. we saw all this chaos over paying the real estate tax and unress your real estate was assessed all that paying may be for not. many are worried about them effecting right now. this is going to happen with you pay your taxes in spring of 2019 so you have the time to see how it plays out but talk to a professional this year >> we just heard that interest rates are expected to rise what does that mean for us in terms of how much we pay on credit cards and mortgages and auto loans >> interest rates are still so low but the trend is higher. so that means people in an adjustable rate mortgage, for example, might want to consider a fixed rate what's really a concern is credit card debt credit card debt as gotten so high but if you look at the things people are putting on

their cards, it's health care, covering their cost of living but we have over a trillion dollars of credit card debt. >> you mentioned that health care is one of the things that people put on their credit cards. some of this happens because the unexpected happens how do we prepare for natural disasters and emergency, whether they're wild fires or whether it's a medical emergency >> when it comes to weather related emergencies, you have to be clear on your insurance coverage so i urge everybody in the first couple of months give yourself a time table, review your insurance coverage but most important make sure you have access to your carrier's contact information. so if you have to run out of your house, you're prepared. how many hurricanes did we see knock out atms rrb knock out banks for a while? you don't want to throw yourself

out of balance but keep that cash at hand >> finally, as we're heading to 2018, this is not your parent's economy. how do we plan ahead for a changing world >> get real with the fact that the infrastructure of the economy has changed. you can go to school, get a job, work hard, save for retirement and it's still doesn't add up anymore unfortunately because we have student loan debt, elder care, child care all of these expenses in addition to paying for our own retirement and health care in many cases honestly see what your life really costs, do what it takes to make it work. it all starts with goals connecting with your priorities but be eopen to changing things. >> and taking a head on if stnsd of sticking your head in the sand up next we're "on the money" from gold rush to green rush

why this deserted gold mining town has high hopes for the future and later an app that can help you land an air fair deal for your next trip and a look at how the stock market ended the week.

here's a look at what's making news in the new week "on the money. beginning january 1st, new laws in 18 states and 20 cities will hike it minimum wage for large businesses up to $15 in somecalifornia cities. the federal minimum wage remains the same at $7.25 an

hour where it's been since 2009. stocks climbed the dow setting a record thursday, the 71st time in 2017. the s&p 500 and nasdaq had strong years stocks fell on friday. too big, too small or maybe they just hated that gift the united parcel service is expecting record number of returns this season. they predict 1.4 million returns january 3rd. trarlts an 8% increase over last year apple is apologizing to iphone users they decide to slow down iphones -- starting in late january, apple will cut the cost of a replacement new battery from 79 to $29 and come january 1st, california's recreational

marijuana industry will be open for business but in order to grow, distribute and sell legal pot, businesses will need a license from the state and so far very few have been given out our jane wells as more >> reporter: to understand how crazy big the legal recreational marijuana market might be, head to an old gold rush town for the official population is listed at six. >> so that was it it old jail right for had and i reckon we'll turn it back into a jail but with no door on it, right. >> reporter: he works for american green that bought the tiny town of nipton with hopes of turning it into a pot paradise there are a lot of ifs here. while medical marijuana as been leaguel for decades, you need a

license and at the 11th hour, the state has only handed out a couple dozen of them is california ready for january 1st? >> who i to say. >> i get 10 different answers. >> reporter: california authorities believe they could collect as much as a billion dollars in pot taxes and everyone wants in. even sillicon valley baker is a bay area company which sells marketing in customer management soft ware to dozens of cannibis stores and expects businessto explode after january. >> everyone thinks it sky will fall down. it doesn't >> reporter: only one business in lauchgerous has received a temporary license and that's for manufacturing, not retail. pure california, owned by a company called moxie is converting this to a facility for both recreational and medical retailers and to buy

licenses for each. >> so we anticipate cost up to $75,000 and there's several other license types that go along with that. >> reporter: expect more than a few pot holes come january >> i think my biggest thing -- and this is more like a christmas wish that during this time of uncertainty we air on the side of understanding and forgiveness and not make an example of certain people. they were 50 yards ificide it just doesn't move commerce forward, it doesn't move humanity forward >> reporter: no matter what happens, california dreaming continues in what you might call gold rush 2.0. >> california officials say they will take a light touch with enforcement during the first few months as people try to comply with the new rules up next where "on the money" has the recent cold snap make

planning a get away more urgent? and later smart speakers and fitness wearables were the hot holiday gifts but what tech trends can we expect to see in 2018

airlines are flying high even with low fuel prices and low fairs, major carriers are forecasting record profits

more on the industry's flight plan >> reporter: it airline industry is soaring as it flies into 2018 thanks to strong demand in it world's key markets. from the u.s. to china to europe, airlines are expecting near record passenger levels in 2018 that's one reason why global profits for carriers are forecast to top 45 -- one reason profits will increase is because airline fees and revenues will keep climbing higher in 2018 from checked bags to changed reservations, they're expected to rake in $27 billion of revenue from those fees. as much as passengers must complain about it fees, they are not going away finally expect to see low cost carriers continue to expand in 2018 spirit and frontier see more routes they can add in the u.s.

as they expand domestically. low cost carriers like norwegian air will continue adding routes, setting up 2018 to be a very busy and profitable year for an airline industry poised to climb higher well, is there a secret formula for finding the cheapest air fair hopper is a travel app where you search for flights and it tells you if you should buy now or wait chief data scientist at hopper so tell me how this works? how do you know whether you buy now or wait and get a last minute deal? >> we're collecting something like 10 billion priced itineraries over the last several years and we look at that every day >> so for the best price, how far in advance is really the most planning that you should do for buying your flight >> it depends a little bit on where you're going it's typically three to four weeks but at a popular time like

a vacation week, it may be six or eight >> is there a certain time of week or day where you have your best shot at getting the lowest air fair possible? >> so everybody has a story about buying on a tuesday and maybe in the old days that used to be it case but now we're fighting this army of computers. it's a very small advantage if you shop in the hour after midnight tuesday probably because that's where airlines are kicking off these flash sales. >> how does hopper make money? >> so we're a travel agency so if you book your ticket through hopper, we'll make a small commission through the airline so 90% of the time you're not going to do any worse swallowing our recommendations. you'll tend to save 10 to 15% on your tickets something like 70% of our users are 35 and under you tell us the trip you want to

take and go play with your kids. we'll send you a notification and say now is the time to buy >> so you put your dates in and the place you want to go and you get an alert >> right it saves you hours of online shopping and comparison shopping yourself >> i know when i use some websites that check air fair there are some exclusions. for instance, southwest doesn't show up. >> there are some airlines that dent distribute their fairs widely >> where are you going this year >> we're thinking about going somewhere warm but we haven't picked a destination yet >> time to get on that happy new year to you. >> happy new year to you up next "on the money. the top new tech trends for the year ahead these birds once affected by oil

are heading back home. thanks to dawn, rescue workers only trust dawn, because it's tough on grease yet gentle. i am home, i am home, i am home here are it stories coming up that might effect your money this week. monday is new year's day the markets will be closed and a lot of people will be home trying to cure their hang overs and what better day as everybody's trying to keep their new year's resolutions to

workout. on wednesday we'll see how much construction spending there was and get auto sales and on friday we'll see how many gains were made. we saw trends like smart speakers explode in popularity amazon sold 11 million echoes in 2016 and with 2018 almost here, what new technology trends will emerge joining us is of tech crunch and invent gadget. i invented smart speakers this year what are we expecting to see >> essentially taking that smart technology and making it mobile. so we've got toys like the r 2 d 2 which had is very much blurring the line between a toy and a robot because you can control it from your iphone.

>> are there going to be other things, other robots that help me accomplish something? >> they help you look up information, they can take photographs and i think you're going to start to see them edge into security. like the curry robot they're -- they can tell not just who you are but when this is a fun family activity and let's snap a photo because you're not going to want to step out and say let's take a photo >> moms everywhere are rejoicing because we can show up in the pictures our children will think we're involved in their parenting. speaking of smart phones, we use them as personal assistants for alarms and ordering groceries. oh, you look down and your battery is dead. >> so what's interesting this 2018 is shaping up to be the year where we see wireless charging break out of the

traditional form factors >> this to me is not traditional. i'm still plugging mine into the wall unit. but here we have a charging pad. >> you have this on your night stand, lay your smart phone on top of it it which is great but it requires you to not hold your phone. there are two companies at least that have received fcc approval to do full on wireless charging. so if you're within a certain range of a transmitter, it's pulling power over the air from the transmitter. >> what about laptops, chris >> i think what we're seeing a lot of is laptops sort of becoming more like our smart phones and our tablets so they recently worked out a system called always connected pcs. so they're not quite as powerful as a traditional machine but they turn on almost if stntly.

their battery life will last about all day and always connected to wireless data. >> i use my tablet liking a computer what's the advantage of a new fangalled laptop >> a lot of people use windows they're used to it and that gives you it flexibility to use the platform you've always been using. for people like me i travel with lot of usbs and i can't get that in my ipad but i can get it in this just fine >> i amazed at it voice commands it uses. i don't need this to be wired to cable anymore because if i use bluetooth i can get everything coming into my television as is. no need for a roku stick tell me what innovations we're going to see on screens hanging on the walls >> to your point i -- this stick

is going to become less and less relevant more and more of those streaming features are going to be built directly in the television and working with alexa and google. >>m ier considering myself officially a 2018 early adopter. and that is the show today thank you so much for joining us and next week those holiday bills are coming how to tackle credit card debt wisely we are on it money hope you have a great one. we'll see you next weekend and happy new year

we're live for the very last show of 2017 it is ab solutely freezing outside but the guy business hind me are warming up here's whatter up on the show. ♪ >> crude oil just hit its highest level in more than two years and the chart master says it could create a boom he'll break it down. plus that's what volatility was like this year and it's created a phenomenon on the options market and late