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

Consumer price rises in the UK saw the highest leap since records began in 1997 as the economy opened up following several lockdowns. According to official government figures, the increase in the cost of living, as measured by the Consumer Prices Index, reached 3.2% (50% above BOE target) in the year to August, the highest since 2017. Rising prices for food, petrol and used cars were up from 2% th...

The Financial Conduct Authority (FCA) is concerned that easy credit offered by buy now pay later companies (BNPL) like Klarna and Paypal will add to the debt crisis. Millions of people in the UK are using BNPL credit at rates as high as 30% pa (or 300 times the base rate) to buy consumer crap that goes down in value while the size of their debt goes up. £14 billion of goods bought using BNPL freon...

Emma Raducanu Becomes An Instant Millionaire But Is Sport The Best Way To Make A Million? British tennis sensation Emma Raducanu became a millionaire at 18 when she was presented with a cheque for $2.5 million after winning the US Open in straight sets on Saturday. As I watched her collecting the cheque form the sponsors commentators were already predicting that she will become the richest woman i...

Tax Landlords and Wealth to pay for social care is the expected policy of the leader of the opposition Labour Party Sir Kier Starmer, the BBC reports. Sir Kier Starmer could be running the country as the next UK Prime Minister if he wins the next general election in two and a half years’ time. Is taxing savers and investors the answer? No! Higher taxation will deter investment and hit savers and t...

Congratulations to British teenager Emma Raducanu , reached the US Open final as her meteoric rise to fame continued with a stunning semi-final victory over Greek 17th seed Maria Sakkari in New York. Londoner Raducanu, who was born in Toronto, Canada to a Romanian father and Chinese mother, extended her dream run with a 6-1 6-4 victory in which her dominance on court defied belief. She is the firs...

El Salvador will be the first country to adopt Bitcoin as legal tender alongside the US Dollar. Citizens will be given $30 Bitcoin tokens in a new account. Twitter acceptance could boot Bitcoin’s price further. Watch video: https://youtu.be/HZfJDLLJvMc Bitcoin price recovers to $51,000 from $30,000. Businessman loses £500,000 in Bitcoin scam. Students turn to Cryptocurrency trading. Boris Johnson...

Chloe was born in London to overseas Filipino worker (OFW) parents who migrated to the UK for a better life and job opportunities. Watch video version - https://youtu.be/XfQEAM0y-JE Although they worked hard day and night, money was tight for the family you came to the UK with nothing. Despite her humble beginning, Chloe showed an early aptitude for learning. She was particularly talented with mat...

UK Job vacancies hit a record high as the labour market bounced back, according to official figures. The number of job vacancies in the UK hit 953,000 in the three months to July, the Office for National Statistics (ONS) reports. Watch video version . The unemployment rate fell to 4.7% in the three months to June, while the annual growth in average pay was 7.4%. Firms like Amazon and Tesco are off...

What Does Your Financial Diet Do For Your Bank Balance? I’ve lost 7kgs using a revolutionary 2 step diet. 1. Eat less 2. Exercise more Can you apply this to your finances? Yes! 1. Spend less 2. Save more Would you like to read more books, but don’t have the time? China has introduced a rule to limit children from playing games online to 1 hour a day three times a week. How much time do you spend o...

Millions of people have little or no savings and are worried about financial security. In the UK, savers face an estimated savings shortfall of £371 billion to feel financially secure. Most people are no more than a couple of salary cheques away from bankruptcy and are forced to borrow at high interest rates to cover a minor repair, holidays and Christmas. Everyone wants to be financially free or...

With the threat of a Christmas shortage of turkeys, the UK government is under pressure to create a short-term working visa scheme for foreign lorry drivers, the BBC reports. The Covid pandemic and Brexit has left transport firms desperate to recruit drivers and government departments have been in discussion options with the industry, including introducing special visas. Ministers have rejected ca...

Michelle Seiler Tucker is the Founder and CEO of Seiler Tucker Incorporated. She holds the M&AMI (Mergers & Acquisitions Master Intermediary) title, as well as Certified Mergers and Acquisitions Professional (CM&AP) and Certified Senior Business Analyst (CSBA). Michelle also owns many other businesses in several different industries. As a 20-year veteran in the M&A industry, she is...

Bitcoin jumped $50,000 (£36,480) for the first time in three months before falling back slightly, as the cryptocurrency continues to recover from a slump, the BBC reports. The coin fell sharply in May after a crackdown in China and a decision by Elon Musk's Tesla not to accept it as payment. Investor confidence is improving as more mainstream financial companies begin using the digital currency. A...

The Daily Mirror reports that the cheapest property in the UK listed on Zoopla is a £35,000 two bedroomed house in Hartlepool, County Durham. The house in the Northeast of England looks like a bargain, but there are cheaper properties. Zoopla has a studio flat in Bradford listed for just £5000 and cheap properties are also listed in auction catalogues. The average price of a home according to the...

The Lloyds Banking Group could become the UK's biggest domestic property landlords with plans to buy 50,000 homes in the next decade, the BBC and FT reports. Britain’s largest lender and banking giant will charge tenants rent as a private buy-to-let landlord under its recently launched Citra Living brand. The Financial Times said the bank was aiming to buy 400 properties this year and 10,000 homes...

Can You Get Rich As An Employee? My answer might surprise you… The highest paid FTSE 100 company executive is the CEO of pharmaceutical giant Astra Zeneca, Pascal Soriot, who earned £15.45 million in 2020 for his part in delivering the covid vaccine to tens of millions of people. The median FTSE CEO was paid £2.69 million – 86 times the median full-time worker - in 2020, according to the High Pay...

The UK has a serious shortage of workers in various industries such as, healthcare, hospitality and building. The NHS has a staffing crisis according to the 2020 King’s Fund report into NHS workforce, which revealed the following: · NHS hospitals, mental health services and community providers report a shortage of 84,000 FTE staff. · There are 38,000 are nursing vacancies, or 1 in 10 posts. · The...

The UK economy grew by 4.8% between April and June, according to official figures, as most businesses emerged from lockdown. Data from the Office for National Statistics showed that the expansion in gross domestic product (GDP) was fuelled by retail, restaurants and hotels. Education also boosted the economy as schools reopened in the second quarter. However, the figure was slightly below the 5% t...

House prices have fallen for the first time this year, according to property website Rightmove, but does this mean we are heading for a market crash? The website reports that the “average price of property coming to market in August fell 0.3%”, which is a small drop of £1,076, to £337,371. The property market slowdown follows the ending of the stamp duty holiday and a subsequent fall in demand for...

A book that influenced me 12 years ago was The 4-Hour Workweek by Tim Ferriss who said you can “live anywhere” and “join the new rich”. He talked about persuading your boss to let you to work from home and then systemising everything enabling you to travel the world. It all sounded like a fantasy in 2007 but today millions of people are being offered the opportunity to work from home permanently,...

Higher energy prices will hit millions of people across the UK in October, just when the cold weather starts, and the country moves into winter. The energy regulator, Ofgem, said the price cap for default domestic energy deals would be raised to cover suppliers' extra wholesale costs. Your typical gas and electricity bill could go up by £139 to £1,277 a year. Prepayment customers will see an incre...

Where Are The 2021 London Property Sales Hotspots? The London boroughs of Camden and Barnet top the 2021 property sales hotspot table, report says.  Around £70bn of property has been snapped up by UK buyers this year fuelled by government incentives, such as the Stamp Duty Holiday and the furlough scheme which ends in September. London postcodes Camden and Barnet were the most valuable sales...

Up to 20% of employers plan on firing staff in response to the furlough policy change on 1 August, which see’s employers pay more, a survey has revealed. The British Chamber of Commerce is calling for additional training to deal with thousands of redundancies predicted, the BBC said. Watch video version . From 1 August, government payments will be cut to a 60% contribution to salaries, with employ...

The UK economy is predicted to grow faster than expected this year as it recovers from the lockdown, according to the International Monetary Fund (IMF). The IMF upgraded growth forecasts for developed economies in its new assessment , but said the world is increasingly split into two blocs with the outlook for many developing countries weakening. Watch Video The largest upgrade is for the UK to 7%...

More Evidence Of Property Market Slowdown Post Stamp Duty Holiday More worrying signs for the UK housing market have emerged following the ‘Stamp Duty property purchase tax’ holiday withdrawals, according to the Nationwide. The leading building society own figures revealed that house prices dropped slightly in July compared with June, but were still 10.5% higher than a year ago, mirroring an earli...