Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

What can you do to prepare for the coming recession? Signs of a downturn include: Watch video version 8 tips to survive the coming recession 1. Make a spreadsheet of all your income and outgoings. I cover this in my books and many of my podcasts. This is vital if you are going to get control of your finances and a must during a downturn when your income will be squeezed. 2. Tighten your belt. Cut out all unnecessary expenditure and check those standing orders and direct debit‘s to get rid of memberships and services you no longer require or use. Unfortunately, this has a knock on effect on businesses and almost becomes a self filling prophecy driving the world further into recession. 3. Reduce credit card balance or pay off if possible. With credit card interest running anywhere between 18 and 40%, it makes no sense to have money in the bank earning less than 1%. You should still have a cash reserve but if you can pay off cards or switch them to lower interest or interest free deals then by all means do so as

With central bank rates rising around the world to control inflation, mortgage rates will be going up for millions of borrowers. If you have a long-term fixed rate mortgage you have nothing to worry about at the moment. However, roughly one quarter of borrowers in the UK are on variable or tracker rates, which means they could be facing substantial payment increases as base rates look set to continue upwards. The UK has just increased rates again - by .25% to .5%, and the US Federal reserve in look set to raise interest rates earlier than expected to combat a 7.5% inflation rate not seen since the 1980’s. City property rental increases as workers return to office Zoopla reports that the cost of renting a property in a city centre is going up as office workers, students and international residents come back. The UK is effectively dropping Covid restrictions this month and cities appear to be getting back to some form of normality. Renters are paying an average of £62 more a month than pre-pandemic rents Zoopla

Interest Rates Double To 0.5% To Cool Soaring Cost Of Living As Energy Bills Jump By £800 To An Average Of £2000 PA The Bank of England have hiked base interest rates for the second time in months to curb inflation, with food inflation running at over 20%. Press rises for basic utilities will inevitably suck money out of the wider economy driving the country into recession. The ECB is widely expected to raise rates and the US Fed could follow. Stock markets around the world are still falling again today threatening a correction or crash. UK stock markets are down by half a percent and the Dow Jones and NASDAQ by over 2% today. Life is going to get tougher this year for millions of people in Europe and America as the coming recession starts to bite. Prices are rising much faster than incomes as the “rich get richer and the poor get poorer”. Now is the time to protect your assets and plan for your future. You could be in for a bumpy ride in the next few years. Facebook’s growth faltered for the first time as us

The US economy expanded at its fastest rate in decades last year as it bounced back from lockdowns. Official figures from the Commerce Department revealed that the economy grew by 5.7% and by 6.9% in the last quarter – the highest growth since 1984. However, the US Federal Reserve announced this week that a rate rise is 'appropriate' soon, while analysts expect growth to slow this year, due to government scaling back stimulus spending. Rising inflation, new Covid variants, such as Omicron are further threats to the economy. The World Bank forecasts that the US economy will grow by 3.7% this year, while OECD said the UK’s GDP will grow by 4.7% in 2022 and is almost back to pre-pandemic levels. Major stock markets have been sliding in January, with the Nasdaq down 13.35% and Dow Jones 5.06% in the last month but have so far resisted a correction or full-blown crash. Billionaires like Elon Musk have been dumping billions of dollars of their own stock, a sure sign that they know the party is over. We are living i

UK Inflation rises again to the highest level for 30 years UK inflation has hit 5.4% mainly due to supply chain issues and soaring food and fuel prices, prompting fears that the Bank of England could raise interest rates again next month. Prices in the shops for basic everyday things have risen much faster than 5.4%. In some cases prices have risen by 50%, for basic items like bread, or package sizes have reduced by 10 to 20%. The UK is expected to grow faster than any other G7 economy as it comes out of the pandemic with more freedom than its European counterparts. Goldman Sachs reports that the UK economy will be larger than France and Germany by 2040, largely due to its younger demographics. Stock markets have been jittery this month, while property continues to boom in the UK and Ireland where demand outstrips supply of family homes. Can you buy property with ‘No Money Down’? Bitcoin languishes around $42,000, well off its high last year. Silver has been rising. NEW BOOK LAUNCH – BORROW AND GROW RICH – SP

Interest Rates Will Rise In 2022 – Time To Fix Your Mortgage Rate? Interest rates in the UK have already risen last year to 0.25% to curb soaring inflation, but rates may rise again as the cost of living continues to go up. Are you prepared for interest rate hikes? When will stock markets fall? Will property prices go down? People will always need somewhere to live and wealth, life expectancy and population has increased significantly over the last 50 years. China has taken a billion people out of poverty and become the second largest economy in the world. Affordability and interest rates could slow the market down this year. Property prices generally go up and sometimes fall for a few years, but in the long term they move in an upward trajectory. If you have a low fixed rate and income, personal or rental, then you should be safe in the long term. Crypto currencies have taken a hit in the last few weeks. SPECIAL APPEAL We have witnessed major climate disasters, such as the recent typhoon which has destroyed

How are your resolutions and plans going? Do you want to lose weight, get fit, lead a healthier life or do something to improve your finances? Maybe you’re on a ‘Dry January’ programme? My gym was full this month of new members hoping to get fit and lose weight, but experience shows that many of them will sadly drop out within a few months. Make 2022 your best year ever! See: How will you prosper in 2022? - https://moneytipsdaily.com/how-to-prosper-and-make-your-dreams-become-reality-in-2022 I have just published my new book – Borrow and Grow Rich :- https://www.amazon.co.uk/s?k=borrow+and+grow+rich&ref=nb_sb_noss In this episode I want to introduce a very special guest. KD Angle is a successful market trader with experience in both futures and stocks who started  trading in 1979 during the last inflationary period. His book is only available at the book’s website which is called: www.Guillotineinvesting.com SPECIAL APPEAL We have witnessed major climate disasters, such as the recent typhoon which ha

Nationwide and the Halifax have predicted the market would slow next year because the stamp duty holiday, which ended in September, forced buyers to bring purchases forward. Nationwide also said the slowdown could be made worse by the spread of Omicron. Interest rate factor ...  FULL ARTICLE  I want to thank all my viewers, listeners and readers for all your support this year, and wish you all a prosperous New Year. See also: How will you prosper in 2022? – Make 2022 your best year ever! SPECIAL APPEAL We have witnessed major climate disasters, such as the recent typhoon which has destroyed 90% of homes in the southern islands of the Philippines. While we in the west worry and fret over a shortage of some of our favourite food supplies, millions of people around the world are starving. You can donate to my Rotary Fundraiser – to provide food, clean water and shelter to the people who have lost their homes and will not be enjoying a merry Christmas. https://www.facebook.com/groups/174851346196950/per

How will you prosper in 2022? What does 2022 have in store for you? Some of you may not know, many will say that it depends on the economy, the government, Joe Biden or Boris Johnson. The answer has less to do with the economy and more to do with your own economy, or what I call your U’conomy. Ask yourself these questions: · What’s your plan? · Have you written down your goals, dreams and plans? · What action steps are you taking to make them happen? · Where do you want to be in 1, 5 or 10 years? The twenty first year of the twenty first century has been a year of firsts. In the UK a few days before Christmas, the country was ‘spared’ a lockdown and yet another damaging closure of the hospitality industry. At the same time, Scotland and Wales are imposing post-Christmas restrictions, ruining New Year’s Eve trade, businesses in England are left in limbo unable to plan for the busy week ahead. When will the party end? My estimate is that 2022 will be the year when stock markets crash, and the chickens of massiv

The Bank of England has raised base interest rates for the first time in more than three years, in response to surging prices and an official inflation rate of 5.1%. The increase to 0.25% from 0.1% followed data this week that saw consumer prices, used to measure the UK inflation rate, climbing by the fastest rate for 10 years. The Bank's action will increase mortgage costs of homeowners and businesses with commercial loans and overdrafts not on fixed rate deals. If you have not yet fixed your rate you might want to start thinking about doing so. Talk to your financial adviser. UK inflation is now running at 5.1%, the highest in a decade and double target rates. The bank governor Andrew Bailey expects inflation to rise to 6% further early next year. The real rise in the cost increase of living is much higher than the official rate, as many of us are experiencing. The sharp rise in wholesale gas prices is driving inflation, and that is continuing to push up domestic energy bills. Energy and fuel prices affect

UK House prices rose 3.4% in the three months to the end of November, the highest price increase since 2006, and 8.2% higher than a year ago, the Halifax reports. The average UK property price hit a fresh record high of £272,992 in November, the UK’s largest mortgage lender said. But added that the pace of growth was unlikely to continue next year as household finances come under pressure. Property shortage and low interest rates drives demand House prices in the UK have still been going up for the past five months, despite the end of the stamp duty holiday and the massive activity in the first six months of 2021. The unexpected growth was "underpinned by a shortage of available properties, a strong labour market and keen competition amongst mortgage providers keeping rates close to historic lows," said Russell Galley, managing director of the Halifax. The figures are based on the lender’s own data and represent an average across all residential property types in the UK. Figures will vary in some areas and pr

High street retail has going through a tough time in recent years with hundreds of stores closing, but here’s why I think there is still a place for physical shops for many years to come. Even with the rise of Amazon and other online retailers 85% of retail sales are still made offline. Over 20% of stores are not even fully engaged online. In a strange twist, Amazon and other online retailer are opening offline stores in the high street and malls! Apple has huge flagship stores in London and other major cities. Online retailers Gymshark and The Fashion Bible are also set to open large flagship ‘bricks and mortar’ stores in prime retail space next year. Gymshark, which only started online ten years ago, is opening an 18,000 square foot store in London’s Regent Street, one of the most expensive and sought after retails real estate areas in the world. See full article. https://moneytipsdaily.com/is-retail-on-the-high-street-dead/ Keep watching or listening to my free podcasts on iTunes and subscribe to my YouTub

Stock markets fell sharply across the world after the discovery of a new Covid variant which threatens the economic recovery as more restrictions are introduced. London’s the FTSE 100 share index dropped by nearly 3%, while markets in Germany and France also declined following falls in Asia. 40 Year Fixed Rate Mortgage Launched Kensington Mortgages launched a mortgage product with a rate that can be fixed for up to 40 years. First-time-buyers in major UK cities like London may be forced to borrow more than 5 times the average salary to get on the housing ladder, as the affordability ratio soars. Free No Money Down Property Masterclass Register Here- https://bit.ly/32qvuZY Food Prices Will Rise A global shortage of fertilisers is driving up food prices and leaving poorer countries facing crisis, says the boss of a major fertiliser firm, the BBC reports. UK Car Industry Suffers Worst October In 65 Years UK car production dropped by more than 40% last month to the lowest level recorded for October since 1956. Ne

This year’s Legatum Prosperity Index finds that prosperity has plateaued for the second year running. Scandinavian countries, Denmark, Norway, Sweden, topped the list again, with the UK slipping to 13th place behind Ireland despite being the 6th largest economy in the world. The world’s biggest economy, the US, was ranked 20thand the number two economy China only ranked in 54th place, behind countries like Panama and Georgia. Whilst the plateauing of prosperity has been caused — at least in part — by the health and economic consequences of the COVID-19 pandemic, it has also been driven by the concerning erosion of many of the core features that underpin prosperity. Specifically, we have seen an ongoing deterioration in Political Accountability and Freedom of Speech and Assembly in most regions of the world. We are calling this out as a key area of concern. The Rise of Africa We have seen prosperity stall for the second successive year in the world’s two most prosperous regions (North America and Western Europ

An estimated 1,000 migrants illegally crossed into the UK on Thursday as the government warns the number of people departing from France with a “bon voyage” message form officials is "unacceptable". The figure could be the highest ever daily total of migrant crossings into Britain. The previous record for the number of migrants arriving in the UK aboard small boats in a single day is 853, set on 3 November. As we come into the winter season and rougher seas, at least two people have died while trying to attempt the perilous journey and several more have been feared to be lost at sea. More than 22,300 people have made it to UK shores this year, more than double the number for the whole of 2020. The situation is getting worse despite the government paying France £54m to increase immigration controls. French officials have been accused of helping migrants being illegally trafficked across treacherous waters in small to make it to the UK. Meanwhile, thousands of Syrian and other Middle Eastern refugees are camped

Interest Rates Held At 0.1% But Will Rise In Coming Months Bank Of England Hints The Bank of England has indicated an interest rate rise in "coming months" to combat high inflation but held base rates. At the Monetary Policy Committee (MPC) on Thursday, policymakers voted 7-2 in favour of no change from the current record low rate of 0.1%. Bank governor Andrew Bailey said the decision had been a "close call", while the MPC said there was "value" in waiting to see how the jobs market coped with the end of the furlough scheme. The UK has resisted calls to hike rates amid market expectations of 4% inflation by the year end. I would still expect rates to go up to 0.25% before too long in order to curb inflation in Europe and America where prices are rising by over 5% per annum. US starts ‘tapering’ $120 billion a month bond purchases by $10 billion. See also: Buy-to-Let Property Demand Down 60% Says London Estate Agent As Chinese Buyers Dry Up- https://youtu.be/4RLroedmkX4 What Can You Invest In That's Guaranteed

Opening his second budget speech of 2021, the chancellor promised a stronger UK economy. The good news is the UK is recovering faster than its major competitors from Covid, the chancellor told MPs.  Rishi Sunak says the Office for Budget Responsibility (OBR) has revised up its forecasts for UK economic growth. The OBR now expects gross domestic product (GDP) to expand by 6.5% this year compared to the 4% it forecast at the Budget in March. This is below what the Bank of England expects - it is predicting 7.4% growth. FULL ARTICLE - https://homebasedbusinessideasuk.blogspot.com/2021/10/eight-ways-rishi-sunaks-budget-could.html Can you make money on social media or from property using none of your own money? To order 'Yes, Money Can Buy You Happines" on Amazon Click: https://www.amazon.co.uk/Yes-Money-Can-Buy-Happiness/dp/1095175858

The property market crisis in China is growing, as another property developer failed to make a payment on a bond. Modern Land followed Evergrande and Fantasia by missing a bond payment indicating that China’s property crisis is deepening. Earlier this month, Fantasia Holdings Group defaulted on a maturing dollar bond that heightened concerns in international debt markets, Evergrande averted a costly default last week but is under more than $300 million in liabilities and has a major payment deadline on Friday. With inflation rising and interest rates due to be increased, there has never been a more important time to stay informed and never stop learning, especially if you want to invest in property. Can you make money on social media or from property with no money down? Yes! The Recurring Income Summit | 2-Day Online Session, 29th - 30th October  Sign Up For Free! - https://bit.ly/3nu2d7MBringing together a collection of wildly successful entrepreneurs and industry elites, the Recurring Income Summit wil

The National Living Wage is widely expected to be increased by 6.6% to £9.50 from £8.91 for workers over 23 in this week’s budget. The pay increase for millions of workers is twice the current cost of living rises and will put further inflationary pressure on businesses to pass the additional costs to consumers. Retail sales continue to fall, as landlords ramp up the pressure on thousands of tenants in rent arrears. Petrol prices hit record high in UK as inflation continues to soar towards a market predicted rate of over 4% by the year end. Interest rates expected to rise to 0.25% to curb runaway inflation brought on by a lethal cocktail of higher transportation, food and commodity prices, staff shortages and central bank money printing on an industrial scale. Rishi Sunak is expected to announce a £2bn investment into building new homes on derelict or unused land in England in Wednesday's Budget. The UK Chancellor wants 160,000 greener homes built on brownfield land the size of 2,000 football pitches, and has

As the price of Bitcoin hit $57,700, the Bank of England deputy governor Sir Jon Cunliffe said Cryptocurrencies need regulation as a "matter of urgency". Crypto technologies do not pose a risk to financial stability at the moment, but there are "very good reasons" to think that this might not be the case for much longer, Sir Jon said in a speech. A future collapse in the price of cryptocurrency could spread through markets, he warned. A severe fall in the value of crypto-assets - for example, to zero - could force investors who have taken on debt with brokers to have to find cash or sell other assets to pay them. In the past year, crypto-assets have grown around 200% in value from just under $800bn (£580bn) to $2.3tn (£1.7tn). While this is relatively small in the context of the $250tn global financial system, the 2008 financial crisis was triggered by the sub-prime sector which was valued then at $1.2tn, Sir John said. Most crypto-assets, such as Bitcoin, are not backed up in the real world by assets or comm