Money Tips Podcast

UK house prices have reached an all-time average record of £254,822 in December, according to lender Nationwide. While most stock markets around the world have continued to rise to new highs despite the gloomy economic outlook and a growing new variant  The average price of a typical house in the UK is now £23,902 more than it was in January, making it the strongest year for price rises since 2006...

The Bank of England has raised base interest rates for the first time in more than three years, in response to surging prices and an official inflation rate of 5.1%. The increase to 0.25% from 0.1% followed data this week that saw consumer prices, used to measure the UK inflation rate, climbing by the fastest rate for 10 years. Eight of the nine Monetary Policy Committee members voted to increase...

UK House prices rose 3.4% in the three months to the end of November, the highest price increase since 2006, and 8.2% higher than a year ago, the Halifax reports. The average UK property price hit a fresh record high of £272,992 in November, the UK’s largest mortgage lender said. But added that the pace of growth was unlikely to continue next year as household finances come under pressure. Propert...

High street retail has going through a tough time in recent years with hundreds of stores closing, but here’s why I think there is still a place for physical shops for many years to come. Even with the rise of Amazon and other online retailers 85% of retail sales are still made offline. Over 20% of stores are not even fully engaged online. In a strange twist, Amazon, Apple and other online retaile...

Stock markets fell sharply across the world after the discovery of a new Covid variant which threatens the economic recovery as more restrictions are introduced. London’s the FTSE 100 share index dropped by nearly 3%, while markets in Germany and France also declined following falls in Asia. 40 Year Fixed Rate Mortgage Launched  Kensington Mortgages launched a mortgage product with a rate that can...

On Money Tips Podcast today I talk to lead generation expert Austin McCulloh who has developed a unique system for generating thousands of leads on LinkedIn on autopilot. After managing just under half a million dollars a few years ago as a 21-year-old financial advisor & running an online hiring agency that taught English to over 700 Chinese children, Austin decided to start his own consulting fi...

Based on a book about the remarkable story of the author’s Erica and Mike Schultz and their Son’s five year fight for life. Sometimes our most productive times can come during a period of adversity, as it did for the authors. During a study of thousands of extremely productive people, they came up with 9 habits based on the use of something we all have in equal amounts, time. T.I.M.E Erica and Mik...

Buy-to-Let property demand falls in London as Chinese buyers stay away. Rental market is hot again, says leading agent. Is the market starting to slow down, particularly for flats? Stock markets remain near highest ever level, as a new report finds that households will remain worse off than they were before the pandemic until 2023. UK's independent forecaster, Charlie Bean, an Office for Budget Re...

What can you buy today that will almost certainly go up in price by at least 10% in the next few months? A stock, property or gold? No. Purpose of investing Inflation is pushing up the price of almost everything you buy in the supermarket on a daily basis, from food to household cleaning items. What is the real rate of inflation? Proctor and Gamble, one of the largest consumer goods companies in t...

October Budget 2021 6 Changes That Could Hit Your Pocket UK Chancellor Rishi Sunak will set out the government's tax and spending plans on Wednesday 27 October. The BBC is predicting six tax and budget changes at a time when Rishi Sunak has already announced a £7 billion spending spree on northern transport links and childcare help for families. There is also a possibility of extended loan support...

A study shows that a couple retiring in the UK will need £49,700 per year to live comfortably, an increase of £2,200. The Pensions and Lifetime Savings Association (PLSA) estimates that a “comfortable” retirement will include two cars, replacing items like a kitchen every 10-15 years, holidays abroad and £94 per week (Waitrose/M&S) for food shopping. You could get by on a “moderate” retirement on...

The Bank of England will increase base interest rates to 0.25% next month, the market is betting. The historically low rates of 0.1% will be raised to combat rising inflation, which is expected to reach 4% this winter. Up to 90,000 UK households will be offered grants of £5,000 over the next three years to install heat pump systems to replace gas boilers.  Ahead of Glasgow’s COP26 climate change c...

As the price of Bitcoin climbed to $57,700, the Bank of England deputy governor Sir Jon Cunliffe said Cryptocurrencies need regulation as a "matter of urgency". Crypto technologies do not pose a risk to financial stability at the moment, but there are "very good reasons" to think that this might not be the case for much longer, Sir Jon said in a speech. A future collapse in the price of cryptocurr...

As prices, wages and inflation soars, the market is pricing a rise in interest rates before Christmas. The Times reports that economists at Bank of America expect a modest 0.15 percentage point rise in December taking base rates up to .25%. Base lending rates have not increased since 2018 and in March 2020 during the pandemic the Bank of England slashed rates to an historical low of 0.1%. Central...

With everyone talking about the end of physical shopping, Amazon is opening shops! Morrisons supermarket UK chain is going through £7 billion takeover. Costo is booming, Aldi and Lidl are expanding. Asia’s richest man, Mukesh Ambani (worth $99 billion) is bringing 7-Eleven stores to India, one of the fastest growing economies in the world. Which is Britain’s cheapest supermarket? Many stores have...

Financial markets and stocks and hares could see a “sharp downturn” if investors start to reconsider the prospects of economic recovery from the lockdown amid supply problems, rising prices and a spending squeeze, the Bank of England predicts. The UK’s central bank's financial policy committee (FPC) warned of a “correction”, defined as a drop of at least 10% in the price of a share from its most r...

As a second property giant fails to pay debt interest investors fear a property collapse in China’s real estate bubble. On Monday, a Chinese developer of luxury apartments Fantasia missed a $315 million payments to lenders, sparking fears that financial strains in the country's overheated property sector are spreading beyond the troubled Evergrande’s troubles. The FT reports that Beijing’s crackdo...

Half the global population are now on one of Facebook’s platforms. How much time do you spend on social media? Can you make money on social media? I notice that kids are very good at creating videos and posts on social media. Unlike me, they have grown up with IT and social media, but that doesn’t mean us oldies can’t get in on the act! We can all learn to not only how to use social media,  but al...

The government’s widely anticipated emergency programme to issue temporary visas to up to 5,000 lorry drivers is not enough to fix Britain’s food and fuel supply-chain crisis and is unlikely to attract workers to the UK, haulage chiefs have warned. Ministers on Sunday announced rushed plans to add 5,000 HGV drivers and 5,500 poultry workers to a visa scheme until Christmas. Marco Digioia, the head...

Almost half of new UK mortgages are being made to borrowers who will not have paid off their loans by age 65, according to the trade association, UK Finance. Longer and lifetime mortgages are part of a growing trend towards people ending their lives in debt to the banks. This compares to a third of borrowers in 2014. Lifetime mortgages or equity release have become more popular in the last decade...

China's central bank has declared all transactions of crypto-currencies illegal, in effect banning digital tokens such as Bitcoin. "Virtual currency-related business activities are illegal financial activities," the People's Bank of China said, warning it "seriously endangers the safety of people's assets". This is a blow to independent digital “currencies”, as China is one of the world's largest...

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 huge Chinese property company, Evergrande, is repaying investors in its wealth management business with property instead of cash this week. The world's most indebted real estate developer faces a crunch this week while investors fear a default. Major banks have reportedly already been informed they will not receive interest payments on loans that are due this week and further interest payments...

Almost 5 million Granted UK Residence Under EU Settlement Scheme  Despite warnings of a mass ‘Brexit exodus’ of European migrants, it has emerged that just under five million people were granted the right to live and work in the UK under the EU Settlement Scheme so far, according to official estimates. Home Office figures reveal that, as of the end of June, some 4,908,760 EU citizens had been gran...