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

How many hours a week do you work? The outspoken Chinese billionaire, co-founder of the online giant Alibaba supports a 9am to 9pm working day, six days a week. While European countries moves towards shorter working hours – I’m not sure they can get much shorter in France - and more time off, Jack Ma calls for a "996 system", which he describes as an opportunity and a “blessing”. Mr Ma recently wrote that without this formula, China's economy was "very likely to lose vitality and impetus". Fellow superrich tech entrepreneur Richard Liu, the boss of ecommerce giant JD.com, supports Ma’s 12-hour-a-day system. Mr Liu said decades of unprecedented economic growth in China had created more "slackers". The two entrepreneurs do not appear to care much about their employees having a life outside of work, especially when you add up to two hours uncomfortable commuting time to his “996” formula, which probably ends up closer to 7-11-6. The communist state has seen economic growth averaging 10% for more than 25 years, f

British Pound down to $1.22 and E1.10 Shares up and down Reminder about PPI deadline – 2 days to go! Hong Kong crisis – Golden Visas What is a Golden Visa? In simple terms, it is a visa in return for money or investment into the host country. Applicants can secure permanent residency in Europe or Cyprus, a member of the European Union, through investment in real estate. The programme is one of the fastest and simplest investor visa programmes in Europe. It requires investment of just €300,000 into property to gain the Cyprus residency permit. The residency visa is granted within two monthsand covers the whole family. It includes parents of both the main applicant and spouse plus dependent children up to the age of 25. It is valid for life and can be passed down to dependents and spouse. The permanent residency programme offers ease of travel throughout the European Union and requires just one visit to Cyprus by all family members once every two years. The investment may be made by a company for which the main

What does BREXIT and leaving the EU on WTO terms actually mean for the UK? Listen to this jargon-busting episode. Word of the Day WTO The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to ensure that trade flows as smoothly, predictably and freely as possible. The WTO has over 160 members representing 98 per cent of world trade. Over 20 countries are seeking to join the WTO. Despite MPs voting against a no deal in March 2019, it still remains the legal default for Brexit until some kind of withdrawal agreement is passed by Parliament. A no deal Brexit would mean we leave the EU, as well as the single market and customs union, and begin trading with the EU on WTO terms. Under WTO rules, countries set their own import rules, so a no deal Brexit means that the government could, in theory,

Albert Einstein once said that compound interest was the most powerful force on earth. What is compound interest? In simple terms, compound interest is the effect of interest being earned, paid or on interest. If you had £100 in the bank earning 7% interest per annum at the end of the year you would have £107. In year two, you are earning 7% on £105, not £100. The Rule of 72 If you did not touch the interest or savings and the interest continued at 7% per annum how long would it be before your money doubled? The answer is just over 10 years. Look at it from another point of you, if you have a credit card debts rolling up at 20% per annum, how long would it be before your debt doubled in size? The answer is just over three years. However, let’s assume you are paying the minimum 2% off of your debt balance, and for the sake of this exercise we assume that effect is that you will be paying 18% on the debt. It would still only take four years before your debt has doubled in size. Furthermore, just paying the mini

Weekly News Roundup 260819 Word of the Day ETF An exchange-traded fund (ETF) is a fund of securities—such as stocks—that tracks an underlying index, for instance, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 Index. ETFs can also contain many types of investments, including stocks, commodities - such as Gold and Silver - bonds, or a mixture of investment types. An exchange-traded fund is a marketable security meaning it has an associated price that allows it to be traded or bought and sold. There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

6 Trump tweets wipe $500 billion off U.S. stocks in one day - $83 billion a tweet! The stock market lost over $300 billion in value in 15 minutes due to six tweets from President Trump. He even joked about the Dow being down later in the day as investors lost over $500 billion on Friday. The Dow Jones closed 623 points down on Friday following the Trump tweets calling Fed the “enemy” and imposing new tariffs on Chinese imports from September. Forbes reported that in the course of 2 minutes on Friday President Trump unleashed 6 tweets about Fed Chairman Powell’s speech at the central bank’s Jackson Hole annual economic policy symposium and China announcing that it would impose 5% to 10% tariffs on $75 billion of U.S. exports to China. The stock market reacted immediately and intensely negatively to Trump’s first set of tweets sending the Dow Jones 30 Industrials down about 400 points in 15 minutes and 500 points within an hour. While the Dow and other indexes were essentially flat to up a bit during and after

Universal credit is responsible for tenants on benefits falling behind with rent, according to the Residential Landlords Association (RLA). The RLA said 54% of landlords had reported tenants on the benefits go into arrears in the last year. The BBC reports that Debt charity Turn2Us warned universal credit will lead to "more rent arrears, more evictions and more homelessness". The Department for Work and Pensions (DWP) said landlords had reported seeing fewer claimants in arrears in the last year. David Smith, policy director for the Residential Landlords Association (RLA), said it was taking too long for people struggling on universal credit to get the help they needed. "The system only provides extra support once tenants are in rent arrears. Instead, more should be done to prevent tenants falling behind with their rent in the first place. "Only then will landlords have the confidence they need that tenants being on universal credit does not pose a financial risk they are unable to shoulder." Tenants have als

You must keep on top of your finances and life in general otherwise the weeds will take the garden, as Jim Rohn used to say. When does it end? When can you relax? Never. Word of the Day Tenure In property terms, it’s the conditions under which land or buildings are held or occupied. Examples of tenure in the UK include, Freehold or Leasehold. There are more examples and practical steps to getting rich, staying rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

UK has enjoyed a boom in new tech investments from overseas and has attracted £5 billion in the first seven months of this year, the BBC reports today. Word of the Day IPO – Initial Public Offering  or stock market launch is a type of public offering in which shares in a company are sold to institutional investors and usually also retail (individual) investors - raising investment using OPM.  The IPO is underwritten by one or more investment banks, which arrange for the shares to be listed on one or more stock markets, such as the London Stock Exchange or on one of the Wall Street markets. There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

 Kylie Jenner – The Entrepreneur who is defying the odds A 20-year-old near-billionaire who does not have a college degree is in the process of dismantling decades worth of bunk economic theories crafted by those long on degrees, but short on common sense. Entrepreneur Kylie Jenner started Kylie Cosmetics in 2016 ago with one product - a $29 lip kit. Forbes reported in 2018, that she “had sold more than $630 million worth of makeup since.”  Jenner owns 100 percent of a company that Forbes estimates is worth more than $800 million. Jenner is on track to become the youngest self-made billionaire ever. Kylie Jenner the Modern Entrepreneur Even more remarkable is how Jenner built the billion-dollar business without a large company or major investors and minimal setup costs, staff or infrastructure. She owns 100 percent of her business. Start-up costs were low and she employs just seven full-time and five part-time staff. All the manufacturing and packaging, along with sales and fulfilment, are outsource

Chancellor Sajid Javid ends speculation that he will make sellers pay Stamp Duty, instead of buyers. Thank goodness for common sense, as the plan was fraught with difficulty.. Stock Markets settle. Invest in yourself and your education. Word of the Day Dividend or Divi. When you own a share in a business, the board of directors of the company can declare a dividend, or share of the profits, to the shareholders who are the owners of the company.  If you invest in shares, you can benefit from capital growth (assuming you have done your research, invested in a good company and the share price rises over time) and income from annual dividends, typically 3-5% of the value of the share. Learn how to invest, and always take independent financial advice. There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

What should investors do when the stock market is at an all time high and recession looms? Fund Managers tell Investors to “stay calm” and stay invested in the market. On Wednesday 14 August 2019, the US stock marker suffered its biggest one day fall since October and the Dow Jones had its sixth worst day in history. Markets recovered by the end of the week when President Trump deferred a tariff increase on Chinese imports. As markets reel and recession appears to be around the corner, The Times interviewed leading experts and economists working for fund managers or insurance companies. These are the people who control billions of pounds worth of investments on behalf of millions of savers and investors in pooled managed funds, from pension funds to unit trusts (mutual funds). Not one expert recommended getting out of the market, even though some admitted that the price of shares could fall. Helena Morrisey of Legal and General advised investors to “stay calm”, which is always easier when it’s not your money

A lot of people say, “you need money to make money”, which is not strictly true. Yes, some projects do require investment, but I’ve started many businesses with no money and just my efforts. TV money expert Martin Lewis started his Money Saving Expert website for £200 and sold it for millions and describes it has his greatest ever investment. I would say the same about my business investments where my ROI has been infinite. Assuming you do need money for a project, does it need to be your own money? Of course not! People have bought and sold businesses, properties and funded projects, expeditions, corporate takeovers for centuries using Other People’s Money (OPM).  7 ‘no money down’ property strategies 1. JV – joint venture with someone who has cash to invest but not the time. 2. Rent to Rent – control property and rent out for a profit. 3. Refinance – draw off equity by remortgaging your, or someone else’s, property. 4. Crowdfunding – sourcing funds from groups of investors. 5. Lease Options – buy now,

What is debt? The English term "debt" was first used in the late 13th century and derives from "dette, from Old French dete, from Latin debitum "thing owed".  To the borrower, a debt is seen as a liability. To a creditor, a debt is an asset on their balance sheet. Change your mindset and use debt as an asset and leverage to acquire assets.  There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

World markets tumble as inverted yield curve signals a recession. Prepare for recession by eliminating the habit of spending and living off bad debt. Keep an emergency savings cash buffer of at least six moths worth of outgoings. If you’re starting a new business, I would advise against renting a shop in the High Street or signing leases for offices. If you must have an office, rent one of the many serviced offices, like Regus or We-Work, with a flexible short-term contract. The rent will be a little higher than a basic office room, but they provide you with telephone lines, answering service, photocopiers, printers, coffee machines, meeting rooms, cleaners and so on. The other advantage of a professional serviced office is that you will immediately look more credible and established. You can also work from home while using an office accommodation address and answering service.  The internet has opened up a new world of learning, working, socialising and doing business. We no longer need to go back to sc

The British Retail Consortium has asked the Chancellor, Sajid Javid to reform Business Rates to stop the decline of the High Street The internet has opened up a new world of learning, working, socialising and doing business. We no longer need to go back to school or university to learn new skills. We can work from home, start a business or find a new life partner all from the comfort of our home. Amazon has also enabled thousands of authors to easily self-publish their books online, as I have with my book, Yes, Money Can Buy You Happiness! See link - http://bit.ly/2MoneyBook If you want to quit the rat race and work from home, but can't quite replace your income from your paid job, why not try and gradually make the transition over a period of time?  You can learn how to get started on Amazon or Facebook by following the steps of people who have done all the hard work for you and now want to pass on their knowledge. For more information on Amazon and Facebook courses email charles@charleskelly.net Word o

Worldwide web inventor Tim Berners-Lee inventor has called for more control of the internet, which has changed everything in the last 30 years. We can now self-publish articles, books, videos, live broadcasts and podcasts online. We can buy, trade and sell online, which is destroying the high street as we know it. Shop vacancies have hit a 4-year high, which means landlords (which could be your pension fund) are also suffering.  Amazon started 25 years ago and has grown from start-up to one of the most valuable public companies on the planet, with Mr Bezos now the world's richest man. Starting as an online book retailer, it has become a global giant, selling multiple products and becoming the world's second-ever public company to hit a $1 trillion valuation. Amazon has sales of over $234 billion and is expected to rise to over $300 billion by 2020.   One of the reasons the company has grown is their partner programmes which enables online entrepreneurs and retailers to sell goods on the Amazon platf

 Are 100% Mortgages back? Well, almost. With a little help from the bank of mum and dad! Word of the Day Quantitative Easing Printing money or pumping money into the economy. Used by central banks after the 2008 financial crash. Quantitative easing, also known as large-scale asset purchases, is a monetary policy whereby a central bank buys predetermined amounts of government bonds or other financial assets in order to inject liquidity directly into the economy. I talk more about practical steps to managing your money, getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System, the Stars Who Lost it All and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

This week in Money Tips Daily Protecting your pension pot from scammers - 5 million people at risk China-Trump Trade and Currency War Stock Markets Plunge around the world Preparing for a recession UK Economy Shrinks 2nd Quarter of 2019 for first time since 2012 1 Million more young adults living with parents than a decade ago Home repossessions up 40% Word of the Day GDP or Gross Domestic Product The total value of goods and services produced by an economy based on three measures of a country’s economic activity: Output Expenditure Income You can learn more practical steps to managing your money, getting rich and being happy in my book, Yes, money can buy happiness, where I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System, the Stars Who Lost it All and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

UK Economy Shrinks in 2nd Quarter as 1 Million More Young Adults Still Living With Parents than a Decade ago 1 Million more young adults living with parents. Word of the Day Conveyance Legal term used to transfer title of a property from one person or body to another. Solicitors carry out conveyancing work during a property perchance.  I talk more about practical steps to managing your money, getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System, the Stars Who Lost it All and much more. Check it out on Amazon http://bit.ly/2MoneyBook.