10 Money Management Tips To Get Control Of Your Finances And Start Build...

10 Money Management Tips To Get Control Of Your Finances And Start Building Wealth

1.      Set financial goals: Set clear and specific financial goals for yourself, whether it's paying off debt, saving for a down payment on a house, retirement or just building an emergency fund.

2.      Make a budget: Having a budget is a crucial step in managing your money. Determine your income and expenses, and make sure you are living within your means.

3.      Track your spending: Keep a track of your spending by writing down all of your expenses, and regularly review spending to identify areas where you can make savings.

4.      Save for emergencies: Saving up an emergency fund is essential for anyone looking to manage their money effectively. It provides a financial safety net in case of unexpected expenses or loss of income.

5.      Reduce expensive debt: High-interest consumer debt, such as credit card debt, are a major burden on your finances. Create a plan to pay off your debts as matter of priority.

6.      Invest: Investing wisely can help grow your wealth if you are smart. Do your research and invest in assets that align with your goals and risk tolerance.

7.      Take advantage of employer/employee benefits: Many employers offer benefits pensions, healthcare, and staff discounts. Take advantage of these schemes to help you save money and manage your finances.

8.      Shop around: Whether it’s groceries, clothes or any other item, it's important to shop around for the best deals. Compare prices from different retailers and online marketplaces to ensure you're getting the best deal and value for money.

9.      Consider using a financial advisor: A a good independent financial advisor can help you create a financial plan that is tailored to your specific needs and goals. They can also provide valuable advice and guidance on investing, mortgages, insurance and retirement planning.

10.   Keep learning: Managing your finances is an ongoing process, and it's important to stay informed and educated about personal finance. Read books, articles, and blogs on the subject, listen to my podcasts and attend financial seminars to continue learning about money.

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Need more help with your finances or debt?

We are living in challenging economic times.

I want to show you how can you:

·        Not only survive, but thrive in a recession or depression?

·        Get control of your finances and spending?

·        Save and invest for your future?

·        Learn about money and finance?

To help you, I am running a free training webinar.  

3 Steps To Success Money Management!

I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.

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Has The Worldwide Property Crash Begun?

Has The Worldwide Property Crash Begun?

Property prices are tumbling in the US, Germany, Sweden, Denmark and the UK.

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Higher interest rates and borrowing costs are hitting the property market across the globe.

The FT reports that there will be a global property meltdown this year, especially in overheated markets like Canada and New Zealand.

The property market in China is now at the slowest pace since records began in 1992 – down 26% last year.

Home prices in several US cities are crashing, following a recording boom from 2020-22, including Houston, Sacramento and Las Vegas.

The cost of a 30-year fixed rate mortgage hit 7% recently, more than double the rate in 2022 and the highest since 2008.

Mortgage demand in the US is at its lowest for 25 years and house sales fell by a quarter last year.

Denmark has suffered the biggest fall in a decade, where house prices fell 3.8% in the third quarter of 2022 despite an interest rate of 1.75%, according to Yahoo Finance. In neighbouring Sweden, house prices have crashed by 20% in the last five months, say Yahoo.

Prices have fallen for the fifth consecutive month in the UK, where fixed mortgage rates reached 6% last year pushing affordability beyond the reach of average buyers.

Average property prices are close to ten times average incomes and much higher in parts of London and the south east of England.

Renters are also leaving London in droves to escape unaffordable rents and in search of cheaper properties to buy.

The Bank of England increased base lending rates by 0.5% last week to 3.5% in a bid to control the inflation their actions largely caused.

UK mortgage rates fall below 4%

Virgin and HSBC are offering fixed rates at 3.00% as lenders slash rates to stimulate demand. However, the headline rates required a 40% deposit and are usually for residential mortgages as opposed to buy-to-let loans.

Experts believe the property market will fall this year, but not at the same rate as in Sweden and Denmark.

Despite demand for housing in the UK, prices in popular areas are unaffordable and will have to come down unless the market simply stagnates. Transactions are down by 30% and buyer enquiries are at the lowest level since 2008 (excluding 2020).

Like the overheated stock markets, property markets regularly go through a 10-12-year boom and bust cycle. The current boom has been fuelled by an unsustainable central bank money printing on an industrial scale since the 2008 financial crash.

Happy Valentines Day!

Learn more about getting control of your finances using my 3-Step Money Management Formula on my free training webinar.

If you’re struggling or worrying right now, I want to show you:

·        3 Steps to get control of your finances and spending and not only survive, but thrive in a recession or depression?

Join me online on my free live training Wednesday at 8.00PM.

Places are limited, so register now below to avoid disappointment. Act now and take advantage of this limited time offer.

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Expert Insight: Gavin Rubenstein Discusses Overcoming Anxiety Through Hy...

Expert Insight: Gavin Rubenstein Discusses His Approach to Overcoming Anxiety Through Hypnotherapy and NLP

Exploring the Power of Hypnotherapy and NLP with Anxiety Expert Gavin Rubenstein

Watch video - https://youtu.be/cB9PhKZfjUk

To contact Gavin visit - www.gmrhypnotherapy.com

Learn more about getting control of your finances using my 3-Step Money Management Formula on my free training webinar.

If you’re struggling or worrying right now, I want to show you:

·        3 Steps to get control of your finances and spending and not only survive, but thrive in a recession or depression?

Join me online on my free live training Wednesday at 8.00PM.

Places are limited, so register now below to avoid disappointment. Act now and take advantage of this limited time offer.

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Higher Interest Rates: How Central Bank Decisions Impact Borrowers, Save...

Higher Interest Rates: How Central Bank Decisions Impact Borrowers, Savers, and the Economy

Central banks in the US, UK, and EU have recently raised base interest rates in response to rising inflation. In the UK and EU, interest rates have gone up by 0.5%, while in the US, they have increased by 0.25%. This move by central banks is aimed at combatting inflation and maintaining the stability of the economy.

Inflation is a sustained increase in the general price level of goods and services in an economy over a period of time. When inflation rises, it erodes the purchasing power of money, making it more expensive to buy the same goods and services. Central banks raise interest rates as a means of slowing down economic growth, reducing inflation, and maintaining the stability of the economy.

Higher interest rates have already had a massive impact on borrowers and savers. For borrowers, such as those with mortgages, personal loans, or credit cards, higher interest rates can mean higher monthly payments and increased debt. On the other hand, savers benefit from higher interest rates as they earn more interest on their savings deposits.

The recent interest rate hike by central banks is likely to have an impact on the stock market and the real estate market. Higher interest rates make borrowing more expensive, which can slow down economic growth and reduce consumer spending. This can lead to a decrease in the demand for stocks, potentially leading to a decline in stock prices. In the real estate market, higher interest rates can increase the cost of borrowing, which can slow down the pace of home buying and reduce demand for homes.

In conclusion, the recent interest rate hike by central banks in the US, UK, and EU is aimed at combatting inflation and maintaining the stability of the economy. It is important for both borrowers and savers to be aware of the potential impact of these interest rate increases and adjust their financial strategies accordingly.

Hundreds of thousands of UK mortgage borrowers are reaching the end of fixed rate deals each month. Many will face difficulty paying much higher rates and some will not even qualify for a new rate under the lender’s ‘affordability’ criteria based on higher payments.

If you are experiencing difficulty in keeping up with your mortgages, loans or credit cards, there are a number of steps you can take.

1.      Firstly, talk to your lender and explain the situation, rather than waiting for them to chase you.

2.      Secondly, you can ask the lender to temporarily switch your loan to interest only or a cheaper rate.

3.      Set up a plan to clear or reduce your higher interest debts, like credit cards.

4.      Finally, you can talk to regulated debt advisory firms or charities to negotiate with your creditors.

Learn more about getting control of your finances using my 3-Step Money Management Formula on my free training webinar.

If you’re struggling or worrying right now, I want to show you:

·        3 Steps to get control of your finances and spending and not only survive, but thrive in a recession or depression?

Join me online on my free live training Wednesday at 8.00PM.

Places are limited, so register now below to avoid disappointment. Act now and take advantage of this limited time offer.

https://bit.ly/3QPp8IH

#money #savings #invest #costoflivingcrisis #inflation #freetraining #recession #economy #financialfreedom #property #interestrates #inflation