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

Welcome to Money Tips Daily Today I want to give you two tips or two for the price of one! One will save you money and the other will make you money. The first tip is to cut down on Pay-Per-View, subscription, cable or satellite TV. A Sky TV package can cost over £80 per month or almost £1000 per year. In ten years time, your will have spent £10,000 and probably be 10 pounds heavier too! The second tip is to stop wasting so much time in front of the TV altogether. The average American spends 4 hours and 40 minutes slouched in front of the box every day (almost a full working week). Americans are the highest TV viewers in the world closely followed by Australians. British viewers watch TV for 24 hours a week, the equivalent of three working days! People are now binge watching boxed set shows and can spend a whole weekend watching a series. British workers have admitted to calling in sick because they’ve been up all night watching a series on Netflix. Watching television ca

Hello and welcome to Money Tips Daily. 3 Steps to Build Up Your Credit Rating. Yesterday, we talked about protecting your credit rating, but what if it is already damaged or you have a low rating? There are different strategies for people who have a bad credit history, for instance if you have a County Court Judgment (CCJ) of a Default registered against you, and those who have virtually no credit rating at all. For those of you who want to build or rebuild your rating, here are three simple steps: 1. Get a credit card if you can or apply for ‘rebuild your credit’ credit card if you already have a poor credit history. Search for card providers which offer credit to people with an adverse credit history. The interest rate could be as high as 40% so make sure you pay them off quickly. 2. Pay off your card balance in full each month. This shows a record of handling your finances and you will usually find that card companies will offer to increase your limit. Also, dra

Welcome to Money Tips Daily. Today I want to talk about something that can have a huge impact on your life, your credit rating. Check your credit rating regularly and protect it by never allowing your rating to be compromised by not paying a bill or defaulting on a credit card, which can stay on your record for up to six years. Protect your credit rating with your life! To check your credit file and obtain a credit rating you can apply to one of the main credit reference agencies in your country. In the UK the big three are www.Experian.co.uk, www.Equifax.co.uk and www.Call Credit.co.uk, which can supply a free report or charge a small fee. You can pay a monthly subscription for ongoing reports, but I would go for the basic report to start with. You can also obtain a combined report covering all three credit agencies, which will often hold different information on you depending on which company reports activity. You should check your credit file at least once a year, as errors will aff

Welcome to Money Tips Daily – Negotiate, Negotiate, Negotiate! We’ve talked about saving money, generating more money, but how would you like to know how to save hundreds or even thousands of pounds or dollars just by saying a few words? Negotiate! That’s right, use negotiation in your everyday dealings. The old saying that “everything is negotiable” may not always work down at your local supermarket (but it can believe me), but the principle is timeless. People have been negotiating since the beginning of time and it’s in our DNA to get a better deal, right? This is not about haggling, banging your fist on the table or becoming a union leader grinding out pay deals, which they do very well! This is about asking for a better deal, price or an upgrade. I get better deals and upgrades all the time, usually just by asking. On a recent holiday in the Philippines, I asked for an upgrade to a better room, and got it, along with use of the club lounge (free drink

Hello and welcome to Money Tips Daily. Yesterday we talked about the sharing economy and turning your spare room into cash. If you’re not in a position to take in a guest, another way of generating some extra cash is to sell unwanted goods online. There are numerous websites like Amazon, Gumtree and Ebay which can help you turn old stuff into cash and it could turn into to an online business. You also get to clear space in your home! We all have those unused exercise bikes and guitars taking up space which could be turned into cash. There are also unopened presents, books and CDs which can be sold online. With Amazon you can even scan the barcode to generate an image on your seller site. You don’t only have to sell your own stuff online. Millions of people have built a business selling online through platforms such as EBay and AmazonSeller. You no longer have to rent a shop in the High Street to have a storefront. An online business can be set up for a very small amount of mo

Hello and welcome to Money Tips Daily. Yesterday we concentrated on ways of saving money so today I want to give you a few tips on how to earn some extra cash! There are hundreds of ways of generating additional income in your spare time from starting a small business from home, digital marketing and sales or MLM. I actually run a Facebook page called home based business ideas. If you’re not inclined to start a business just yet and are struggling to make ends meet, you might want to consider these simple money making tips: Rent a Room Scheme The UK government allows you to earn up to £7500 tax free per year from renting out accommodation in your home. The Rent a Room Scheme lets you earn up to a threshold of £7,500 per year tax-free from letting out furnished accommodation in your home. Tenants are easy to find in most areas using websites like Airbnb and spareroom.co.uk. Airbnb clients tend to be looking for short-term accommodation, although in my experience they can turn

Welcome to Money Tips Daily. A Penny Saved is a Penny Earned is a saying attributed to Benjamin Franklin, although what he actually wrote was “a penny saved is two pence clear”. We get the picture, saving a penny is as valuable as going out and earning the same amount. Is that still true? Well, yes and no. In Franklin’s day, there was probably no direct income tax, but nowadays to receive a penny in your hand, net after tax, you probably need to earn at least half as much or double before tax (gross) depending on your individual tax rate. Don’t forget that we also pay indirect taxes such as VAT and tax on our homes, and there are the costs of going out to work such as travel, parking, clothing and lunches. Ok, for sake of this example and to keep the maths simple let’s say you need to earn two pence to end up with one in your hand, and let’s update the penny from 1736 penny to £100 today. If you can save £100 it is equivalent to earning £200 by go

Money Tips Daily Your Inner World Reflects Your Outer World.

Hello and welcome to Money Tips Daily. In the last few days we’ve looked at reviewing your utility and mobile providers and staying on top of your taxes. Today, I want to talk accumulating money and the philosophy of money, more importantly YOUR philosophy of money. Respect money and it will respect you. The author and speaker Joe Vitale, who was featured in the movie The Secret, says, “Money has its own psychology”. He goes on to say that money, is a form of energy you can either attract or block depending on your mindset. Another famous author, Brian Tracy, gave me a simple idea at one of his seminars in America. The great speaker said: “You should respect money and even look after the cash in your wallet or purse by placing each dollar bill neatly and in order of value, with the President’s head facing the right way”. This might sound silly, but Brian went on to say that whenever he met someone who had money issues, their money would be stuffed into the

Hello and welcome to another edition of money tips daily. Keep on top of your taxes and claim all your tax free allowances. Staying on top of your tax returns, declaring, claiming back, keeping records and all those forms can be a challenge even if you have an accountant. It requires consistent, regular work just like looking after the weeds in your garden. Leave it for too long and the weeds will take the garden – or the taxman will take your house. Filling in your tax return can be a pain, but so can receiving a penalty notice or worse still an investigation. Decide which is worse, submitting your return on time or a penalty, and then having to do it anyway. One technique which may help is to keep records as you going along on a spreadsheet or one of the many bookkeeping Apps. Gathering all of the information in one go at the end is far more difficult and time consuming, and you will forget to claim allowable expenses. Most people rely on their accountants, but I have found to m

Welcome to another edition of money tips daily. In the last couple of shows we talked about reviewing your mortgage and utility payments. Before we move on to other money tips, I wanted to briefly touch on mobile phone or cell phone contracts. When I lived at home with my parents many years ago, we used to have one landline phone and the quarterly bill was less than my monthly mobile phone bill! Nowadays, people have more than one phone as well as paying for landlines, broadband and TV services such as satellite or cable. In other words, the services can add up to a considerable sum of money each month. I could easily run to over £100 per month or £1200 per annum. This means that some taxpayers would need to earn almost £1800 a year, before tax, just pay for the phone and TV services. The message is clear, like your utilities and mortgage payments it definitely pays to shop around as it can make a big difference to your bank balance. As I said yesterday, loyalty does not alway

Money Tips Daily shows you how you can save hundreds of pounds on your utilities and explains why loyalty does not always pay. By simply using free comparison sites you can save hundreds and even thousands of pounds on bills which are not only a major source of expenditure, but cannot be avoided. Listen to the short episode from Money Tips Daily.

Reviewing your mortgage lender and switching to cheaper rates could save you thousands of pounds. This week the governor of the Bank of England, Mark Carney, hinted that interest rates could rise sooner rather than later. We have enjoyed low interest rates for 10 years and this is unlikely to continue. Now is the time to review your mortgage and if necessary switch to a fixed rate before interest rates rise. As always, seek independent advice before making any decisions. Money tips daily does not constitute financial advice, so always seek independent financial advice.

Money Tips Daily - Interest Rates Set to Rise So Review Your Mortgage Deal NOW!