Friday, October 28, 2022

21 SMART Money and Energy Saving Tips


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.

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

1 Pay yourself and save first, spend what’s left

Pay yourself first is the golden rule and money mindset the rich and well-off follow. Do this and you’re on your way towards financial freedom. Try the 50/30/20 formula and have your salary automatically paid in separate accounts:

50% of your take home pay for your needs (bills, food, minimum debt payments),

30% for fun, play, eating out and entertainment

20% saved for your future, extra debt payments, saving for emergencies and investing.

2 Avoid credit card debt interest

Plan a strategy to get rid of it credit card balances with cash or by transferring the debt to a 0% balance credit card to avoid paying interest for a fixed time (up to 30 months) COMBINED with paying off the balance every month.

Another useful tip set up a direct debit to avoid missing minimum payments and being stung with high charges and bad credit report history. You can also move to another deal if you don’t manage to clear the balance. Pay off purchase balance every month.

3 Track your income and expenditure

‘T’ for ‘track’ is included in my programme, Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr. Set up a tracking system and also try challenger digital banks like Monzo, which allows you to transfer a set amount of spending money to your card and informs you every time it is used, ore prepaid cards – like Monese and Transferwise – where you can only spend what you load.

You can also do this manually and set your account up by allocating your income into different ‘jars’ for different needs.

4 Start saving and investing

Whatever you are earning or how much you have in the bank, you can start saving a percentage of your income. Apps such as Moneybox let you start with a few pennies by rounding up loose change every time you spend.

You can legally shelter your savings from tax by maximising your £20,000 tax free ISA allowance and using other tax shelters. Pension schemes also enjoy a favourable tax treatment. You can either put money into a cash or investment ISA, which carries more risk. Interest rates have been low for a decade but are now rising, which is good news for saver but bad for borrowers.

Check out www.gov.uk/individual-savings-accounts for more information. Check for the best cash ISA rates at Moneyfacts. Shop around and be prepared to move your money to obtain the best rates.

5 Emergency or contingency funds

Everyone needs a rainy-day fund. You should aim to have three months’ income saved for emergencies, ideally six if you have a mortgage.

6 Loyalty doesn’t always pay - switch suppliers

If you check out any good comparison site, you are sure to discover cheaper deals on your household bills, as well as savings accounts and insurance. Ofgem calculates that the average household can save £300 a year by switching to a better energy and gas deal. This might not always be possible in the current climate.

Check your latest utility statements and check out comparison sites, such as uswitch or moneysupermarket.

7 Reduce your car insurance

Some of us are using our cars less as a result of working from home, so check your car insurance is still the right fit and inform your insurer. Don’t auto renew, and check for better deals via your existing supplier and comparison websites like CompareTheMarket and MoneySupermarket.

8 Review your mortgage

Over 100,000 people reach the end of a fixed term fixed rate mortgage every month, according to a BBC report. Staying with the same lender could mean paying a ‘loyalty’ penalty of higher interest of up to £1000 a year. Consult an independent mortgage broker about remortgaging to the best deal for you even if your current deal is expiring in 6-12 months’ time.

‘R’ for ‘review’ is part of my programme, Master Your Money the S.M.A.R.T Way training. Check it out - https://bit.ly/3isugCr.

9 Check your tax code to pay less to HMRC

Make sure you’re not paying too much tax. You could even get a nice rebate from HMRC.

Working from home could entitle you to tax relief and you could claim some money back for working from home expenses in the form of tax relief paid by HMRC.

10 Look for old bank accounts and pension policies

Billions is waiting to be claimed in forgotten bank accounts, insurance policies and pension schemes. Have a root through your old papers or contact the ABI (Association of British Insurers).

You can also query your council tax band, check for discounts if you live alone or care for someone.

11 Check for any entitlements to benefits.

There are numerous benefits you can access even if you are working and earning a family income of up to £40,000.

12 Reduce your grocery bill

Buy only what you need and avoid ‘two for one’ offers, which lead to food waste and can cost you more.

Buy own brand food from supermarkets which have often scored higher in blind tests.

Plan your meals for the week ahead and use discount supermarkets and pound stores, which can be significantly cheaper that M&S, Waitrose and Tesco’s.

Explore the world food; aisle in your supermarket which can have savings of up to 75% on cupboard staples including rice, lentils, beans, spices and sauces.

Shop in the late afternoons and evenings for yellow sticker discounts.

Don’t buy plastic bags and make your food, fruit and veg last longer.

13 Avoid wasting food

Use your common sense and avoid throwing away food which is still safe despite passing sell by dates.

14 Explore local charities for help – there is an abundance of food given away by supermarkets

If you are in need, use Foodbanks and the many other charities for help with food and other items including energy. They help everyone from the homeless to working people who just can’t make ends meet, and there is a lot of money and resources out there if you search. Nobody should go hungry in the west.

15 Check your workplace or private pension

Make sure you’re saving enough for retirement and you’re happy with how your pension is being invested according to your individual risk profile.

Checking whether your employer will match pound for pound any personal contributions you make free money.

16 Check your state pension and NI contributions level

You have until next April 2023 to top-up National Insurance contributions to boost your old age state pension if you have not made sufficient contributions during your working life due to career breaks or time spent overseas. Topping up contributions can be a good investment. Check with a financial adviser.

Women in retirement may have been underpaid and could be entitled to back payments.

Go to the .gov website or Google the links.

17 Use loyalty cards, price match and vouchers and deal finders

Points, discounts and free stuff all add up on loyalty cards like Tesco’s Clubcard or Nectar. 

Stores like John Lewis and Currys offer price matching policies, which are subject to change sot do your research and don’t be shy to ask.

Try hacks like VoucherCodes ‘DealFinder’ as a plug-in on Chrome to be alerted to the best deals while buying online.

There are hundreds of money saving apps and discount offers, such as Sweatcoin and BetterPoints, where you can get paid to walk and exchange your steps for store discounts and freebies.

18 Cut energy bills

Check out the Energy Saving Trust for some great energy and money saving hacks. For instance, charging gadgets overnight can cost you more than charging for a few hours during the day. And not filling your kettle up when boiling water for a cuppa and defrosting your freezer when iced up will also cut your bills.

Going paperless and paying by direct debit will save you money.

Insulating your home will keep you warm in the winter and cut energy bills. Check your local authority for tips grants on insulation and solar panels, even if you are a tenant.

19 Sell unwanted stuff on resale platforms

Did you know that the average British woman accumulates an estimated £22,000 of unworn clothes over a lifetime? You can turn unwanted clothes into cash using resale platforms such as DepopVinted and eBay.

You can also save money by buying through these sites for top-quality gifts and clothes instead of paying for new. Some items sold on these sites are brand new unused.

You can also clear your garage, loft and spare room of unwanted stuff by selling on sites like Facebook Marketplace and eBay.

20 Mindset – avoid emotional spending and blowing your salary on payday

In my programmes and YouTube Money Tips Podcast videos I talk about money mindset. A recent survey by Nationwide’s Payday Saveday revealed that 1 in 5 people blow over half their spare monthly wages within 48 hours of payday! Shops, restaurants and online stores gear up offers for payday surges in expenditure. Ask yourself if you really need something before you buy and give yourself time to think before parting with your cash.

21 Plan, organise and forecast

The key is in planning and organising your expenditure, work, goals, relationships and life! As in the first tip, prioritise essential expenditure and your savings pot, before spending. That way, you’ll know how much disposable income you really have to last the rest of the month. Use a spreadsheet, app or notebook to map out or forecast your finances and expenditure just like a business does. You should know exactly how much money you have in your account right now and how much is coming in and going out tomorrow.

Finally, searching for the best deals, tracking and reviewing your finances and being mindful of spending money on things to don’t really need will not only help you get through the current crises but help you form lifelong habits that will enable to build wealth.

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 #energybill #costofliving #goals #foodbank #getcontroloffinances #money

 


Monday, October 24, 2022

Rishi Sunak To Become Next UK Prime Minister The First PM Of Indian Origin

Rishi Sunak To Become Next UK Prime Minister The First PM Of Indian Origin

How to create a Four Figure Second Income on LinkedIn

To reserve your place click: - https://contexttraining.aweb.page/p/4a278f33-c9d0-44e4-a847-7bf02a63f713

 

Rishi Sunak has become the latest Conservative Party leader today - after his two leadership rivals Boris Johnson and Penny Mordaunt dropped out or failed to get sufficient MP endorsements - and will become the next Prime Minister.

The 200,000 rank and file party will not get a vote as the rules were changed to give parliamentary members (MP) the final say.

The former Chancellor (who ran economy under Boris Johnson) could keep Jeremy Hunt on in his previous government job.

The ‘markets’ and organisations such as the IMF and World Bank will favour fellow globalist Rishi Sunak’s fiscal policies. The buzzword seems to be “stability”!

As Chancellor, Sunak presided over a period in which UK national debt reached record levels of over £2 Trillion.

Government borrowing rates have dropped by 0.25%, which will ease pressure on fixed mortgage rates.

Tax cuts have been reversed and government spending cuts could bring in a new era of austerity and recession.

The country faces a tough winter ahead, with an estimated 8 million people falling behind with their bills, 10% inflation and fuel bills going through the roof.

Among other problems, there is still global financial instability, oil and commodity price inflation and the Ukraine war to deal with.

The BBC said that 100,000 mortgage borrowers will see their fixed rate deal end every month, leading to a possible 300% rise in their mortgage payments.

What can you do to protect yourself from the coming recession?

Followers of my podcast will know that I recommend my training to manage and grow your money through wiser investments.

But what can you do if you have done as much as you can to save and economise and are still struggling?

Generate more income and revenue.

My friend Paul has developed a simple yet effective system to make TENS OF THOUSANDS OF POUNDS every month using a free software tool – LinkedIn!

How to create a Four Figure Second Income on LinkedIn

Special Event by Charles Kelly BA CMgr FCMI

Tue, Oct 25, 2022, 1:00 AM - 2:30 AM (your local time)

 

To reserve your place click: - https://contexttraining.aweb.page/p/4a278f33-c9d0-44e4-a847-7bf02a63f713

 

How would several hundred dollars, pounds or euro’s extra each month make a difference to the way you lived your life? How about a few thousand extra each month?


I have been driving several hundred highly targeted visitors to high ticket coaching events each month and making four figure sums in the process. What is most impressive about this is everything you don’t have to do


I do this by using one of the most untapped traffic sources on the net… LinkedIn.


Come and join me on my live workshop at 8pm on Monday 7th of November where I will share…


🚀 How to do this fast and easy with no previous experience or understanding. You will be kicking yourself at how easy this is!
🚀 How to get tons of free traffic from LinkedIn whilst everyone else is burning holes in their wallets with Facebook ads.
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🚀Without having to work 4-8 hours per day to make it work
This session is perfect for you if…
🚀You don’t like selling but want to find a way to make weekly profits
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🚀You want to do all of this without it costing you any money at all on premium LinkedIn accounts or advertising spend.

Limited seating – so make sure you grab your seat now and show up 10 minutes early. I cannot promise replays to non-attendees.

To reserve your place click: - https://contexttraining.aweb.page/p/4a278f33-c9d0-44e4-a847-7bf02a63f713

 

#linkedin #freetraining #Rishisunak #economy #debt #inflation #money #mortgage #costoflivingcrisis #business #freetraining #linkedintraining #makemoney #invest #markets

 

  

Thursday, October 20, 2022

Truss DOWN but Mortgage Rates UP to 14-Year High as 100,000 reach end of...

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

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 training to 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


Monday, October 17, 2022

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

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 finances and 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%.

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 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


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

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

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

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.

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 and learn how to become financially free in 28 days!

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

 

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

 


Thursday, October 13, 2022

NEW Housing Slowdown Warnings From RICS As Mortgage Rates Rise

NEW Housing Slowdown Warnings From RICS As Mortgage Rates Rise

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.

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


Saturday, October 8, 2022

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


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
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.
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 video version - 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 finances and 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

Friday, October 7, 2022

Get control of your finances and learn investment for beginners


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.

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

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

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

 

#money #business #stockmarket #property #foodprices #freetraining #financialfreedom #inflation #costoflivingcrisis #moneytips #getcontroloffinances #freetraining


Sunday, October 2, 2022

Labour's attack on buy-to-let property landlords will wreck the UK priv...



Labour's attack on buy-to-let property landlords will wreck the UK private rented sector

Labour plans sweeping private rental reforms in the buy-to-let property market

What can you do transform your finances and become financially free?

To help you get through this and come out stronger at the other end I have prepared a brand-new training, which you can access right now from the comfort of your home.

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

********

Labour's Shadow Levelling Up, Housing & Communities Secretary, Lisa Nandy, laid out the party's plans to reform the private rented sector on Monday. In her speech she essentially promised that, should Labour come to power, rent payments will be considered an ‘optional extra’ for tenants, with the party planning to end automatic repossessions for rent arrears. Source NRLA

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

In this video we also talk about:

1 Pound, Dollar and Euro all at same rate

2 Pension funds dump shares and bonds, FT reports

3 UK economy grew by 0.2% in second quarter to avoid recession

4 Energy prices in the UK rise 1 October despite government cap

5 US stocks record longest run of quarterly losses since 2008 market crash

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#freetraining #business #money #savemoney #buytoletinvestor #propertyinvestor #mortgages  #financialfreedom #economy #money  #buytolet #investing #property #houseprices #interestrates #inflation #wealth #taxcuts #kwasikwarteng #labour #rentalreform #lisanandy