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

When I was growing up, my mother was stingy by necessity and bought the cheapest food and clothes she could find. I was embarrassed by this, as in those days it was not cool to be frugal. Fast forward to the present and it has become fashionable and even cool to be stingy, frugal and penny pinching. Shops like Primark, money saving comparison sites and online stores like Amazon have all boomed in...

End of a Turbulent Week It’s Friday and it has been a tumultuous week. Shares recovered from last week’s fall on hopes that the Trump-China trade dispute will be settled soon. Economies of China and India are slowing and property sectors look to be over geared. Could this cause another banking crisis? Boris Johnson prorogued Parliament causing a storm of protests with people taking to the streets...

How many hours a week do you work? The outspoken Chinese billionaire, co-founder of the online giant Alibaba supports a 9am to 9pm working day, six days a week. While European countries moves towards shorter working hours – I’m not sure they can get much shorter in France - and more time off, Jack Ma calls for a "996 system", which he describes as an opportunity and a “blessing”. Mr Ma recently wr...

British Pound down to $1.22 and E1.10 Shares up and down Reminder about PPI deadline – 2 days to go! Hong Kong crisis – Golden Visas What is a Golden Visa? In simple terms, it is a visa in return for money or investment into the host country. Applicants can secure permanent residency in Europe or Cyprus, a member of the European Union, through investment in real estate. The programme is one of the...

What does BREXIT and leaving the EU on WTO terms actually mean for the UK? Listen to this jargon-busting episode. Word of the Day WTO The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments....

Albert Einstein once said that compound interest was the most powerful force on earth. What is compound interest? In simple terms, compound interest is the effect of interest being earned, paid or on interest. If you had £100 in the bank earning 7% interest per annum at the end of the year you would have £107. In year two, you are earning 7% on £105, not £100. The Rule of 72 If you did not touch t...

Weekly News Roundup 260819 Word of the Day ETF An exchange-traded fund (ETF) is a fund of securities—such as stocks—that tracks an underlying index, for instance, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 Index. ETFs can also contain many types of investments, including stocks, commodities - such as Gold and Silver - bonds, or a mixture of investment types. An exchange-traded fu...

6 Trump tweets wipe $500 billion off U.S. stocks in one day - $83 billion a tweet! The stock market lost over $300 billion in value in 15 minutes due to six tweets from President Trump. He even joked about the Dow being down later in the day as investors lost over $500 billion on Friday. The Dow Jones closed 623 points down on Friday following the Trump tweets calling Fed the “enemy” and imposing...

Universal credit is responsible for tenants on benefits falling behind with rent, according to the Residential Landlords Association (RLA). The RLA said 54% of landlords had reported tenants on the benefits go into arrears in the last year. The BBC reports that Debt charity Turn2Us warned universal credit will lead to "more rent arrears, more evictions and more homelessness". The Department for Wo...

You must keep on top of your finances and life in general otherwise the weeds will take the garden, as Jim Rohn used to say. When does it end? When can you relax? Never. Word of the Day Tenure In property terms, it’s the conditions under which land or buildings are held or occupied. Examples of tenure in the UK include, Freehold or Leasehold. There are more examples and practical steps to getting...

UK has enjoyed a boom in new tech investments from overseas and has attracted £5 billion in the first seven months of this year, the BBC reports today. Word of the Day IPO – Initial Public Offering  or stock market launch is a type of public offering in which shares in a company are sold to institutional investors and usually also retail (individual) investors - raising investment using OPM.&...

 Kylie Jenner – The Entrepreneur who is defying the odds A 20-year-old near-billionaire who does not have a college degree is in the process of dismantling decades worth of bunk economic theories crafted by those long on degrees, but short on common sense. Entrepreneur Kylie Jenner started Kylie Cosmetics in 2016 ago with one product - a $29 lip kit. Forbes reported in 2018, that she “had sol...

Chancellor Sajid Javid ends speculation that he will make sellers pay Stamp Duty, instead of buyers. Thank goodness for common sense, as the plan was fraught with difficulty.. Stock Markets settle. Invest in yourself and your education. Word of the Day Dividend or Divi. When you own a share in a business, the board of directors of the company can declare a dividend, or share of the profits, to the...

What should investors do when the stock market is at an all time high and recession looms? Fund Managers tell Investors to “stay calm” and stay invested in the market. On Wednesday 14 August 2019, the US stock marker suffered its biggest one day fall since October and the Dow Jones had its sixth worst day in history. Markets recovered by the end of the week when President Trump deferred a tariff i...

A lot of people say, “you need money to make money”, which is not strictly true. Yes, some projects do require investment, but I’ve started many businesses with no money and just my efforts. TV money expert Martin Lewis started his Money Saving Expert website for £200 and sold it for millions and describes it has his greatest ever investment. I would say the same about my business investments wher...

What is debt? The English term "debt" was first used in the late 13th century and derives from "dette, from Old French dete, from Latin debitum "thing owed".  To the borrower, a debt is seen as a liability. To a creditor, a debt is an asset on their balance sheet. Change your mindset and use debt as an asset and leverage to acquire assets.  There are more examples and practical steps to...

World markets tumble as inverted yield curve signals a recession. Prepare for recession by eliminating the habit of spending and living off bad debt. Keep an emergency savings cash buffer of at least six moths worth of outgoings. If you’re starting a new business, I would advise against renting a shop in the High Street or signing leases for offices. If you must have an office, rent one of the man...

The British Retail Consortium has asked the Chancellor, Sajid Javid to reform Business Rates to stop the decline of the High Street The internet has opened up a new world of learning, working, socialising and doing business. We no longer need to go back to school or university to learn new skills. We can work from home, start a business or find a new life partner all from the comfort of our home....

Worldwide web inventor Tim Berners-Lee inventor has called for more control of the internet, which has changed everything in the last 30 years. We can now self-publish articles, books, videos, live broadcasts and podcasts online. We can buy, trade and sell online, which is destroying the high street as we know it. Shop vacancies have hit a 4-year high, which means landlords (which could be your pe...

 Are 100% Mortgages back? Well, almost. With a little help from the bank of mum and dad! Word of the Day Quantitative Easing Printing money or pumping money into the economy. Used by central banks after the 2008 financial crash. Quantitative easing, also known as large-scale asset purchases, is a monetary policy whereby a central bank buys predetermined amounts of government bonds or other fi...

This week in Money Tips Daily Protecting your pension pot from scammers - 5 million people at risk China-Trump Trade and Currency War Stock Markets Plunge around the world Preparing for a recession UK Economy Shrinks 2nd Quarter of 2019 for first time since 2012 1 Million more young adults living with parents than a decade ago Home repossessions up 40% Word of the Day GDP or Gross Domestic Product...

UK Economy Shrinks in 2nd Quarter as 1 Million More Young Adults Still Living With Parents than a Decade ago 1 Million more young adults living with parents. Word of the Day Conveyance Legal term used to transfer title of a property from one person or body to another. Solicitors carry out conveyancing work during a property perchance.  I talk more about practical steps to managing your money, gett...

As money pours out of shares, investors are turning to Bonds and precious metals, like Gold which has risen 30% in the last 12 months. Financial Word of the Day “Bear” Bear Market, Bear Run, where markets are expected to fall – opposite to “bull” market. Investors are feeling “bearish” about the US stock market on news of a possible US-China trade war. I talk more about practical steps to managing...

We heard of a pending trade war, now we have a looming currency war between China and the US. What can you do to prepare for a recession? Financial Word of the Day “Bull” Bull Market, Bull Run or the expectation the markets are going to go up. Feeling ‘bullish’ about the market, which we expect to rise. I talk more about practical steps to managing your money, getting rich and being happy in my bo...

5 Reasons Why A Stockmarket Crash Could Affect You Even IF You Don't Invest In Shares   What does the stock market crash into me when I don’t invest in shares? A lot of people will be saying that they fall in the share prices of the world stock markets will make no difference to them, because they don’t invest in shares. However, the value of the world’s largest companies indirectly affects e...