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

5 Inflation-Busting Tips To Survive The Coming Recession

Spring may be in the air, but the economy is still very much in winter!

Like the seasons, the economy and markets are subject to natural cycles. We have had a long upturn and bull market and now we are entering a downturn or bear market.

Inflation has reached a 40-year high, prices of everything going through the roof and a war causing a food a fuel crisis.

Stock markets have been falling from their recent highs, and the property market may have reached a peak as demand slows.

Watch videoversion - https://youtu.be/2jZCO4V7uX0

Last week, hundreds of workers for P&O Ferries were fired without warning on Twitter and replaced by cheaper agency staff.

How would you cope if you lost your job?

Do you have sufficient savings to pay your bills?

How long will your savings last?

What will you do to survive and even thrive in this recession?

Here are my 5 inflation-busting tips:

1. Loyalty cards and money saving and rewards websites can save you thousands

2. Maximise your returns on savings and investments

3. Clear credit card debts as fast as you can or transfer to interest free offers

4. Abandon ‘brand loyalty’ for better deals on similar products and services

5. Get control of your finances and stop spending more than you earn

Winters are tough but they never last forever. Like the farmer who prepares for the next season’s work, now is the time get ready and come out even stronger when the recession ends.

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#money #business #stockmarket #property #foodprices #freetraining #financialfreedom #inflation

The US Federal Reserve is raising interest rates for the first time since 2018 in an attempt to bring fast-rising prices under control.

The US central bank said it was lifting its benchmark rate by 0.25% and signalled plans for further rate rises in the months.

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The Bank of England increased rates for the third time in the last six months to .75%.

The moves come as the economy faces new uncertainty caused by the Ukraine war and coronavirus outbreaks in China.

They are expected to have widespread global repercussions.

By increasing rates, the Fed will make it more expensive for households, businesses and governments to borrow.

It is hoping that will cool demand for goods and services, helping to ease price inflation in the US, which hit a new 40-year high of 7.9% last month.

U.S. and other global stock prices have been falling since the Federal Reserve warned that they would finally slow down their massive monthly bond-buying scheme and begin hiking interest rates – kept artificially low since the 2008 financial crash - in 2022.

The Fed's aggressive bond-buying scheme literally just ended last week.

Rising interest rates do not necessarily mean falling stock prices, as was the case in previous hikes.

US stocks ended 2.2% higher on the news.

· OECD warns that Ukraine war “could” hit world growth, really? We’d never have guessed!

· What is the real inflation rate…and what are the consequences of soaring prices for ordinary people?

· Free Financial Training!

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Sanctions on Russia are having a negative impact on Western economies at a time when they were starting to recover from the pandemic led recession.

As the US and UK bans imports of Russian oil, and price of oil soars to near record levels, it has been reported that Middle East leaders refused to speak to President Biden. This could signal a major shift in the world balance of power away from US dominance.

View Video Version - https://youtu.be/_Z0_kwsD8rs

Food prices will rise even higher as wholesale wheat and fertilizer prices rise.

The price of filling up the average family car with petrol has gone above £90, and in the US where petrol was always so cheap it has now hit $4 a gallon.

This will inevitably mean less available money for people to spend in the wider economy.

Stock markets around the world have been falling in the last month, but commodity prices and precious metals are going through the roof!

Take a look at Gold, Silver, platinum and Uranium.

· Gold up 13.9% in last month.

· Silver up 13% in the last month

· Palladium up 9%.

The price of Uranium, used in nuclear fuel, has risen to a near 10 year high and 30% in the last six weeks. Some Uranium stocks have shot up by over 50% recently.

When you include higher interest rates, this mirrors the situation we had before the 2008 financial crisis.

The price of oil impacts just about every part of our economy.

Money Saving Tips

There have already been warnings last year of rising food prices due to higher fuel costs, and even the UK post office has announced that it will be increasing the price of a first class stamp by 10p to 95p on the 4th April.

Tip. If you want to stock up on stamps you could save yourself a 12% rise, which about 120 times more than you can earn leaving your money in the bank on deposit!

If you live in the UK, now is the time to start thinking about topping up your ISAs and Pensions before the end of the tax year on 5 April.

Don’t leave your money in the bank! Well, not the same bank anyway.

Firstly, your deposits are only protected up to £85,000 by the Deposit Protection Scheme.

Secondly and more importantly, you could double the return on your deposits and ISAs by switching banks for a better deal. My own bank has not increased savings rate despite TWO recent interest rate hikes. Loyalty does NOT pay!

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Oil and Gas price soar amid supply chain worries after the Russian invasion of Ukraine.

With inflation already soaring to 30-year highs there is no sign of relief for businesses and consumers recently hit with higher prices for petrol and gas.

UK and European stock markets fell sharply with the FTSE 100 closing down 190 points (2.57%) and the FT250 down 696 or 3.57%. US markets are also down wiping billions of dollars off the value of western companies.

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Russia’s economy appears to be in freefall as sanctions force a collapse of the Rouble and Russian stock market. Businesses are severing ties with Russia and lending markets are being closed off.

Property News

HMO landlords renting rooms on an ‘bills included’ basis will be hit with massive cost increases this year. Gas prices have already doubled and could go even higher if the war chokes off supplies.

The Nationwide survey was published this week and reported a 12.6% annual increase in UK house prices to February 2022.

The cost of a typical UK home rose by a record £29,162 in the last year, the biggest cash increase in property prices since it started collecting comparable data in 1991, according to the Building Society.

The price of an average UK home is £260,230 but around double that figure for most of London and the Southeast.

Property prices are being driven by continued demand from buyers who are competing for relatively few properties on the market, especially larger homes outside of big city centres.

Second property owners in some parts of Wales could face a 300% council tax hike in a bid by the Welsh government to make homes more affordable for local people.

London sales and rentals appear to be bouncing back as people start to return to the office, but retail shops and cafes have taken a hammering in the last two years and thousands have closed for good.

Take a look around any shopping mall or high street and you will see many empty units.

Whether property prices can continue to rise in the current economic climate remains to be seen.

You can learn how professional property investors make money whether the average market is moving up or down, with the biggest opportunities coming during a recession or downturn which is looking more and more likely.

Get control of your finances in 2022.

We know exactly what the millionaire and billionaire habits and traits are, as success leaves tracks. All you need to do is follow their tracks to become wealthy and financially free!

If you would like to learn more about investing and managing your money, become a professional property investor, or would like to be financially free without working any harder, watch this free on demand training.

I will give a special free gift which can help you to immediately transform your finances when you attend the online training.

Click on this link to watch the free training now https://bit.ly/3wLWqx2

Markets Crashing Around The World As Russia Invades Ukraine

Billions are being wiped of the value of stock markets all over the world today on the news that President Putin has sent his army into Ukraine.

The prices are flashing red and moving down. On Thursday, the FTSE lost over 3% or 300 points and the Dow Jones was down nearly 700 points by 2%.

Watch video version - https://www.linkedin.com/groups/8943012/

The FTSE is down 10% since January. The US S&P and Nasdaq indices are also down over 10% from recent highs, which is entering into correction territory.

Oil topped $100 a barrel and gas prices jumped again threatening to send western economies further into recession. Consumers will be hit with higher petrol, gas and food prices as sanctions are imposed on Russia.

Will property follow stock market falls?

Property prices in the US could have peaked after a 20% spike last year as higher mortgage rates (anticipating a rate increase by the Fed) are already hitting buyers and refinance applicants.

UK average asking prices in February were up by a record £7,785 compared to last month.

Demand is being driven by ‘second steppers’ in search of more space sending prices nearly £40,000 higher than since the start of the pandemic.

The price of property coming to market rose 2.3% in February, or £7,785, according to Rightmove’s latest House Price Index.

Whilst the UK market is still buoyant, the two recent interest rate hikes to .5% will make it more expensive to buy and remortgage property.

End of tax year tax saving hints.

With the end of the fiscal year looming on 5 April, now is the time to start tax planning your ISA and pension contributions.

You can put up to £20,000 into a tax-free ISA each fiscal year, as well as maximising your pension contributions.

If you are in the UK and earn less than £18,570 a year from income and savings interest, your savings interest is tax-free due to tax-free savings and the starting savings rate.

There are other more specialist tax saving investment schemes, such as Enterprise Investment Scheme (EIS) and Venture Capital Trusts(VCTs). Talk to an independent final adviser.

Get control of your finances in 2022.

We know exactly what the millionaire and billionaire habits and traits are, as success leaves tracks. All you need to do is follow their tracks to become wealthy and financially free!

If you would like to learn more about investing and managing your money, become a professional property investor, or would like to be financially free without working any harder, watch this free on demand training.

I will give a special free gift which can help you to immediately transform your finances when you attend the online training.

Click on this link to watch the free training now https://bit.ly/3wLWqx2.

#property #inflation #money #business #stockmarkets #interestrates #nomoneydownproperty #financialfreedom #isa #pension #EIS #VCT #mortgage #mortgage #propertybuyer

What can you do to prepare for the coming recession?

Signs of a downturn include:

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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 this will save you a fortune in interest payments.

4. Build up a cash reserve of 6 to 12 months of outgoings. This is essential during a downturn when the job may not be safe. Everyone should have cash reserves equivalent to 6 to 12 months of household expenditure. In reality, 90% of people have no savings and are only a couple of salary payments away from bankruptcy and homelessness.

5. Take a part-time job to earn extra money or change jobs. With inflation running at record rates, your income, even with pay rises, will not be keeping pace with rising costs. You may need to consider finding ways of earning extra money through a part-time job or home-based business.

6. Review your investments. Review your investments to ensure that you are not exposed to a stock market downturn or crash. This includes your pension funds and any savings ISAs or mutual funds. Seek independent financial advice. Fund managers and advisers will often advise you to stay in the market even if it’s going down.

7. Review your mortgage, insurance loans and suppliers. Reviewing your loans and suppliers can save your fortune and is even more important during the recession. Loyalty does not pay. I have saved thousands of pounds by switching mortgages, utility suppliers and insurance contracts.

8. Finally, stay positive and plan to come out of this recession even stronger. During a recession, many people give up and say things like, there’s no point in working because nobody’s got any money. Make sure you are working harder than the competition.

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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 found.

Unlike the US, most UK borrowers are on relatively short-term fixed rate mortgage deals, which means they could be in for a nasty shock when their rate expires.

Now could be the time to talk to your financial adviser or mortgage broker about switching before rates go up again? Check the lender penalties to calculate the benefits of switching now.

Mortgage lenders also whack on hefty fees for giving you a mortgage rate, plus early redemption and final redemption fees, which they used to call a ‘deed handing fee’!

End of tax year tax saving hints.

With the end of the fiscal year looming on 5 April, now is the time to start tax planning your ISA and pension contributions.

You can put up to £20,000 into a tax-free ISA each fiscal year, as well as maximising your pension contributions.

If you are in the UK and earn less than £18,570 a year from income and savings interest, your savings interest is tax-free due to tax-free savings and the starting savings rate.

There are other more specialist tax saving investment schemes, such as Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCTs). Talk to an independent final adviser.

Get control of your finances in 2022.

We know exactly what the millionaire and billionaire habits and traits are, as success leaves tracks. All you need to do is follow their tracks to become wealthy and financially free!

If you would like to learn more about investing and managing your money, become a professional property investor, or would like to be financially free without working any harder, watch this free on demand training.

I will give a special free gift which can help you to immediately transform your finances when you attend the online training.

Click on this link to watch the free training now https://bit.ly/3wLWqx2.

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 user numbers fell. Shares plunged 20% wiping $200 billion of the value of parent company Meta.

PayPal value also plunges as it shuts down 4.5 million false accounts.

Property prices in the UK continue to increase year-on-year by an average of 11% as the market defies economic reality. Anyone owning assets, such as property, has become richer in the last few years.

Get control of your finances in 2022.

We know exactly what the millionaire and billionaire habits and traits are, as success leaves tracks. All you need to do is follow their tracks to become wealthy and financially free!

If you would like to learn more about investing and managing your money, become a professional property investor, or would like to be financially free without working any harder, watch this free on demand training.

I will give a special free gift which can help you to immediately transform your finances when you attend the online training.

Click on this link to watch the free training now https://bit.ly/3wLWqx2.

#property #inflation #money #business #stockmarkets #interestrates #nomoneydownproperty #financialfreedom

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 in volatile times. shares are overpriced, central banks have printed money like there’s no tomorrow, inflation is reaching levels not seen since the 1980’s, Russia could be about to invade Ukraine and China is watching the west while it eyes Taiwan.

What is your personal inflation rate?

The UK official inflation rate is 5.4%, but essential items such as fuel, food and household items are up by as much as 50%.

New immigration identity checking system for landlords and employers.

The Home Office has recently announced a new digital ID checking tool for landlords and employers to help prevent abuse of the UK immigration system.

A press release published on the UK government’s official website, the technology will ‘make it quicker, safer and more convenient for landlords and employers to carry out right to rent and work checks.

The checking system will start on 6 April 2022 and certified identity service providers (IDSPs) will be able to use Identification Document Validation Technology (IDVT) to carry out right to work checks and right to rent checks on behalf of UK and Irish citizens.

Frugality is good for your health

Spending wisely cannot only improve your bank balance but also your health.

That’s because poor spending habits are often linked to unhealthy pursuits, such as smoking, drinking and gambling.

Get control of your finances in 2022.

We know exactly what the millionaire and billionaire habits and traits are, as success leaves tracks. All you need to do is follow their tracks to become wealthy and financially free!

If you would like to learn more about investing and managing your money, become a professional property investor, or would like to be financially free without working any harder, watch this free on demand training.

I will give a special free gift which can help you to immediately transform your finances when you attend the online training.

Click on this link to watch the free training now https://bit.ly/3wLWqx2.

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.

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