Money Tips Daily by Charles Kelly, former IFA and author of

10 Tips To Avoid Christmas Debt And January Blues

The silly season is upon us…rushing around spending money we don’t have buying things people don’t want and listening to the same old Christmas songs!

Check out my new training to help you get control of your finances in 28 days! Click to join: https://bit.ly/3isugCr

Christmas might be a time for giving, but that doesn’t mean you have to give yourself a headache in the New Year with bills and debts you can’t afford. Millions of people max out their credit cards in December only to wake up with a financial hangover in January.

It’s so easy to overspend and fall for those tempting offers and feel pressured to buy, but youmust decide how much you can afford before you start shopping.

Watch video version on YouTube - https://youtu.be/n7vSK5LlONU

10 tips to avoid Christmas Debt And January Blues.

1. Set a budget and stick to it! Don’t overspend.

2. Plan your purchases early to avoid panic buying.

3. Shop around for deals, especially for food and drinks.

4. Look for discount codes and offers.

5. Check out interest free deals and 0% cards.

6. Pay off credit card debt as soon as possible.

7. If you can, hold off large purchases until the post-Christmas sales.

8. Discuss holding a ‘gift buying truce’ with your extended family and friends (NOT your partner and kids!). They will probably be relieved!

9. Limit gifts to a maximum price, have fun with a secret Santa or agree charity donations.

10. Never neglect household bills to spend on Christmas.

Watch out for Black Friday “deals”….do you really need that gadget?

Not everyone celebrates or even looks forward to Christmas, which is okay.

Finally, you can enjoy a simple holiday season without getting into debt. It’s all about mindset, planning and communication. Christmas is not just about buying presents.

With the cost-of-living crisis getting worse, there’s never been a better time to learn how to manage your money and change your financial blueprint.

Check out my new training to help you get control of your finances and learn how to become financially free in 28 days!

Click to join: https://bit.ly/3isugCr

A third of countries in recession next year, so there has never been a more important time to get your financial house in order – see my free training https://bit.ly/3isugCr to help you manage your money.

Chancellor, Jeremy Hunt announced £55 billion ‘fiscal squeeze’ tax changes and measures to cut the national debt whilst stimulating growth including the “biggest programme of public works for 40 years” and a plan to make the UK the world’s next Silicon Valley.

Watch video version - https://youtu.be/9Y6FcXo22jQ

Markets were reassured by a steady and responsible budget. 

· Social rents capped at 7% next year.

· Rents to increase for private landlords housing social rent tenants by 5%.

· National Living Wage increased and more help poorer pensions and families on Universal Credit.

· Pensions ‘Triple Lock’ retained - largest ‘inflation-linked’ increase to state pensions.

· Corporation tax and stamp duty changes to be implemented.

· Capital Gains Tax (CGT) thresholds halved – another tax rise.

· Inflation is the “enemy” of growth. Jeremy Hunt.

· Lowering higher rate tax thresholds from £150,000 to £125,140.

· Freezing tax free allowances – effectively increasing taxes.

· ‘Fiscal drag’ means 3 million people will pay more tax.

· Windfall tax on energy companies increased to 35%.

· Electric vehicles will start paying car tax duty.

· OBR expects housing market to slow down.

· Big tech companies should pay more tax.

· Review of “workforce participation” – get people on benefits to get a job!

Reality check. World heading into recession

One third of countries will be in recession next year, so there has never been a more important time to get your financial house in order – see my free training https://bit.ly/3isugCr to help you manage your money.

OBR predicts UK recession next year and low growth and 7.4% inflation next year - see 21 Money Saving Tips https://youtu.be/taJgXOqp9O0– and negative inflation in 2025.

· UK inflation 11.1%.

· Interest rates to rise again.

· £100 billion to service national debt.

· £177 billion more borrowing next year.

· Rishi gave away billions, Jeremy is taking it back, as he said, “it has to be paid for”.

· The UK always pays its debts, he reassured the markets.

If you are struggling to grow your income and reduce costs in the economic winter, I will personally speak to you to help you accelerate your wealth building journey.

If you would like to work with me to help you thrive in any economy, click on the link below to book a free Wealth Accelerator Discovery Call - https://calendly.com/charleskelly/wealth-accelerator-discovery-call

Don’t Join The Recession – 7 Tips To Help You To Thrive In ANY Economy!

If you would like to work with me to help you thrive in any economy, click on the link below to book a free Wealth Accelerator Discovery Call - https://calendly.com/charleskelly/wealth-accelerator-discovery-call

The world’s economies are in turmoil. Even the mighty German economy drag the EU into a long recession according to the EC.

But what about YOUR economy? What are you doing right now in your ‘U’conomy’?

Migrants do very well in a recession. Why? Because they don’t watch the news! Brian Tracy.

Watch video on YouTube - https://youtu.be/USSP2m6xYmw

I want to work with a small group of people to help you not only survive but THRIVE in the recession.

In the meantime, here are 7 quick money tips:

1. Cash flow – do whatever it takes (legally) to keep cash coming in.

2. Keep working - As the late Zig Ziglar said, you don’t have to “join the recession”. He was selling pots and pans in a recession, but doubled his sales because he worked while everyone gave up and said “nobody’s got any money, don’t you know we are in a recession”.

3. Manage money – you must get control of your finances and budget. See my free new training to help you get control of your finances in 28 days!

4. Look for opportunities – there are millions of opportunities to make money in any economy.

5. Get around the right people – stay away from the people who drag you down with negative talk.

6. Stay positive and realise that winters pass– “all things must pass”, George Harrison wrote. Winters follow summers and spring follows winter. Recessions are inevitable and come and go in most decades.

7. Get a mentor – getting a mentor, coach, mastermind group or training are the smartest things you can do, especially in an economic downturn.

I have space now for a small group of people I can work with to mentor them to success in any economy.

If you would like to work with me to help you thrive in any economy, click on the link below to book a free Wealth Accelerator Discovery Call - https://calendly.com/charleskelly/wealth-accelerator-discovery-call

#recession #money #economy #freetraining #moneytraining #coaching #mentor #positive #makemoney #managemoney #briantracy #zigziglar #jimrohn

UK house prices will crash 8% next year Mortgage lender predicts

For more more tips and money-making ideas see my programme, Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.

Watch video version on YouTube - https://youtu.be/-jQZmzSAMjg

· House prices will plummet by 8% in 2023

· Stay flat for the following four years, Lloyds Banking Group has predicted.

· Britain’s biggest mortgage lender issued a pessimistic outlook for the UK economy

· Setting aside £668m to cover bad debts.

· The bank fear that rising interest rates – which they predict could reach 4% by 2024 - will make mortgages less affordable.

· ONS data says price of the average home up by 13.6% in the year to August to £296,000.

· An 8% fall will not put values below the rapid rises over the last two years.

· The Bank of England hints base rates could rise by 0.75-1% when it meets in November as it fights to tackle 10% inflation.

· Wholesale lending rates have eased after fixed rate mortgages topped 6% following the disastrous mini budget.

New buy-to-Let investment deals are no longer viable with 6%-7% mortgage costs even with a 25-30% deposit – see:

Higher interest rates will KILL buy-to-let property market

Cash buyers are unaffected by mortgage rates of course, but investors have traditionally used leverage and maximum borrowing to expand their portfolios, but higher rates have moved the goalposts.

The Nationwide has reported that UK house prices fell for the first time in over a year last month. Prices fell by 0.9% month-on-month in October.

Over 100,000 borrowers are reaching the end of their fixed rate deals every month at which time they will suffer sharp increases in payments. Many will face mortgage rises of 2-300%.

Britons are facing a long winter of strikes and higher energy and food prices, despite wholesale prices of gas and oil falling from their highs.

Other news

Is the dollar losing its status as the world’s reserve currency?

For more ideas and tips, see out my new training to help you get control of your finances in 28 days!

Click to join: https://bit.ly/3isugCr

#freetraining #savemoney #moneysavingtips #mortgage #creditcarddebt #costofliving #goals #houseprices #property #getcontroloffinances #money #halifax #housingmarket #interestrates #inflation

21 SMART Money And Energy Saving Tips

With energy bills, fuel and interest rates soaring, there’s never been a more critical time to make savings and learn how to manage our money to the best of our ability. I cover many more tips and money-making ideas in my programme, Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.

Please LIKE and SHARE – WATCH YOUTUBE VIDEO - https://youtu.be/taJgXOqp9O0

Here are some tips to help you save and accumulate more money...

Truss DOWN but Mortgage Rates UP to 14-Year High as 100,000 borrowers reach end of fixed rate deal every month

· Prime Minister Liz Truss resigns after 38 days in office following a tumultuous few weeks

· A new party leader and Prime Minister will be voted in by members by 28 October

· Will ‘the markets’ get the leader they want with higher taxes, pain and austerity?

· As mortgage rates hit new high, 100,000 reach end of fixed rate deal every month

· Average two and fiver-year fixed rate deals reach 6.65% and 6.51%

· Bank of England will raise rates again next month to fight inflation

· Food prices rise at fastest rate for 42 years

· Tax plans and Hunt budget in doubt

· Markets and Pound rise on news

Watch video version - https://youtu.be/bYVdg1ySjuM

What does this mean for you?

FINANCIAL EDUCATION FOR FINANCIAL FREEDOM

Whatever you do, don’t do ANYTHING unless you are financially educated.

Can you change the economy, market or government policy?

No!

Can change YOUR economy (Uconomy), your policy, your financial and money management and your earnings?

YES!

With the cost-of-living crisis getting worse, there’s never been a better time to learn how to get control of your money and change your financial blueprint.

Check out my new trainingto help you get control of your finances and learn how to build real wealth in 28 days!

Click to join: https://bit.ly/3isugCr

#money #business #stockmarket #property #freetraining #financialfreedom #inflation #costoflivingcrisis #moneytips #getcontroloffinances #freetraining #mortgagerates #fixedratemortgage #jeremyhunt #tax #liztruss

New Chancellor Hunt Reverses Tax Cuts and Long-Term Support For Energy Bills

Check out my new training to help you get control of your financesand learn how to build real wealth in 28 days! Click to join: https://bit.ly/3isugCr

Newly appointed Chancellor, Jeremy Hunt MP, has ripped up his predecessor’s doomed mini budget after replacing Kwasi Kwarteng MP on Friday.

Wholesale government borrowing interest rates have stabilised after Mr Hunt steadied the ship and restored confidence in the ‘markets’, which have now factored in an interest rate peak next May of just over 5%.

Watch video on my YouTube channel Charles Kelly Money Tips Podcast - https://youtu.be/JMbSw-H221g

SCRAPPED

INCOME TAX

Jeremy Hunt ditched the plan to cut the basic rate by 1p from April.

Planned cut to corporation tax.

ENERGY BILLS

The typical household energy bill has been capped at £2,500 for the next two years.

The 'guarantee' policy was estimated to cost the government over £100billion.

Now expected to be overhauled, with help targeted on the poorest after April.

DUTY-FREE SHOPPING FOR TOURISTS

EASING IR35 RULES FOR SELF-EMPLOYED

DIVIDEND TAX CUT

REMAINING

STAMP DUTY

Stamp duty was abolished under £250,000 at the mini-Budget, with first-time buyers exempt on up to £425,000.

That has already taken effect, and Mr Hunt said it will stay in place.

NATIONAL INSURANCE

The government promised to reverse the increase to National Insurance.

FINANCIAL EDUCATION FOR FINANCIAL FREEDOM

Whatever you do, don’t do ANYTHING unless you are financially educated.

Question: What can you do to change the economy, market or government policy?

Answer: Nothing!

Question: What can you do to change YOUR economy (Uconomy), your policy, your financial and money management and your earnings?

Answer: EVERYTHING!

With the cost-of-living crisis getting worse, there’s never been a better time to learn how to manage your money and change your financial blueprint.

Check out my new training to help you get control of your financesand learn how to build real wealth in 28 days!

Click to join: https://bit.ly/3isugCr

Check out my new training to help you get control of your financesand learn how to become financially free in 28 days! Click to join: https://bit.ly/3isugCr

Example of buying a £500,000 property with a £20,000 a year rent or 4% yield. That’s all very well but if you are then borrowing money on say an 80% mortgage, in the past your mortgage payments based on a 2% interest rate would be £8000 a year leaving you a gross profit before cost of £12,000 per annum.

Then interest rates went up to 4% meaning that your mortgage payments rose to £16,000 per annum.

Watch video versionon my YouTube channel, Charles Kelly Money Tips Podcast https://youtu.be/JarTWcAvAoc

At 5% your mortgage payments will be £20,000, in which case you would not even break even after paying costs such as insurance and letting agency fees.

At 6% per annum your mortgage payments would be £24,000 a year leaving you with a loss of £4000 per annum before costs.

However, that’s not the whole story. Rates are expected to go higher and have already breached 6% for the residential market based on five-year fixed rates.

At 8% the interest only mortgage on a £400,000 loan Will be £32,000 a year.

Even if you only borrowed £300,000, the mortgage payment will be £24,000 a year not only leaving you a loss but an obtainable from the lender which would want a buffer zone in case of rental void.

The higher the interest rate the less you can borrow.

It’s unlikely that the lender would give you more than £200,000 based on an 8% interest rate, which would mean that you would need £300,000 as a deposit.

In short, higher interest rates will wipe out any hope of a monthly residual yield or profit for buy to let buyers using islands value by to let mortgages.

Bearing in mind that the high growth model for most investors is based on using maximum leverage and borrowing against their properties, higher interest rates will wipe out a large percentage of the potential buyers as the deals no longer stack up.

Learn how to invest and build wealth.

The Bank of England were forced to bail out the pensions industry after it nearly collapsed and brought down the financial industry with it.

Whatever you do, don’t do ANYTHING unless you are financially educated.

Question: What can you do to change the economy, market or government policy?

Answer: Nothing!

Question: What can you do to change YOUR economy (Uconomy), your policy, your financial and money management and your earnings?

Answer: EVERYTHING!

With the cost-of-living crisis getting worse, there’s never been a better time to learn how to manage your money and change your financial blueprint.

Check out my new training to help you get control of your finances in 28 days!

Click to join: https://bit.ly/3isugCr

#money #business #stockmarket #property #freetraining #financialfreedom #inflation #costoflivingcrisis #moneytips #getcontroloffinances #freetraining #mortgagerates #fixedratemortgage

Subscribe to FINANCIAL EDUCATION FOR FINANCIAL FREEDOM for exclusive training and special offers to help you manage and increase your wealth! https://bit.ly/financialeducationforfreedom

New warnings of a housing slowdown were issued this week as the number of people struggling with mortgages are forecast to reach a 15-year high, the Royal Institute of Chartered Surveyors (RICS) said. The RICS is the body which regulates and controls the surveyor who carry out surveys and valuations for all the major lenders in the UK.

Watch YouTube videoat Charles Kelly Money Tips Podcast - https://youtu.be/CEnXNHB6LOI

Subscribe to FINANCIAL EDUCATION FOR FINANCIAL FREEDOM for exclusive training and special offers to help you manage and increase your wealth!

Details:

· House sales in September hit their lowest levels since 2020/21

· Rising mortgage rates will drive house prices down this year, say RICS

· Bank of England said this week the number struggling to pay mortgages will rise next year

· New house buyer inquiries fell in September for he fifth month in a row, say the RICS.

· Fewer properties for sale has pushed up housing prices, but warned this will end.

· Banks, such as HSBC have issued similar warnings of a housing market slowdown

· Higher interest rates will make buy-to-let purchases unsustainable

· Fixed rate deals have reached around 6%, a 300% rise and a gamechanger

· Mortgage lenders will not lend to investors if deals do not stack up financially

· Up to 200,000 households will need to remortgage in the next year, say BBC.

The news comes of top of a brewing financial crisis in the City of London as the Bank of England are again printing money to bail out financial institutions – this time it’s the people running your pension funds.

Tail wagging the dog as centrals banks tell elected governments how to run the country!

Question: What can you do to change the economy, market or government policy?

Answer: Nothing!

Question: What can you do to change YOUR economy (Uconomy), your policy, your financial and money management and your earnings?

Answer: EVERYTHING!

Subscribe to FINANCIAL EDUCATION FOR FINANCIAL FREEDOM for exclusive training and special offers to help you manage and increase your wealth!

https://bit.ly/financialeducationforfreedom

#money #business #stockmarket #property #freetraining #financialfreedom #inflation #costoflivingcrisis #moneytips #getcontroloffinances #freetraining #mortgagerates #fixedratemortgage

Cost of 5 year fixed rate mortgages soar to 12-year high

Typical 5-year fixed rate mortgage now 6.02%, the highest since 2010, say Moneyfacts.

Some 2-year fixed rates have topped 6% this week, up from just over 2% in 2021.

Borrowers will be hit with massive payment rises when fixed deals expire.

Watch video version - https://youtu.be/jMo0m_PYgaU

Get control of your finances and learn investment for beginners

In this video, I take you through the basics of getting control of your finances and learning how to become financially free.

Watch videoversion - https://youtu.be/J8xSMrLDsNw

With the cost-of-living crisis getting worse, there’s never been a better time to learn how to manage your money and change your financial blueprint.

Check out my new training to help you get control of your financesand learn how to become financially free in 28 days!

Click to join: https://bit.ly/3isugCr

If you’re REALLY serious and want to get started right away…Claim your free Wealth Accelerator Discovery Call with me now:

https://calendly.com/charleskelly/wealth-accelerator-discovery-call

#money #business #stockmarket #property #freetraining #financialfreedom #inflation #costoflivingcrisis #moneytips #getcontroloffinances #freetraining #mortgagerates #fixedratemortgage