Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

Some of the top finance stories this week: Amazon is 25 years old looks set to dominate the world, although I’ve heard that before with other companies like Facebook. House prices continue to fall in London. According to the nationwide survey house prices in London fell for the eighth consecutive quarter and grows in other parts of countries slowed to just .5%. Earlier this week it was reported that the salary needed to buy the average property in London is now £84,000. This figure also reflects the tight lending policy imposed by the government a few years ago in order to stop another house price boom and bust. Excessive stamp duty does not help the situation  This news may be good for buyers and even investors who want to pick up cheap properties. However, stamp duty is a factor. For instance, if you Bought a three bed house or similar price property in London inside zone three or four for £575,000 to £600,000 your stamp duty would be over £34,000.  Then look at the yield. If you were able to get

Just 25 years on from when it started, Amazon has grown from start-up to one of the most valuable public companies on the planet, with Mr Bezos now the world's richest man. Amazon started as an online book retailer but has become a global giant, selling multiple products with membership subscriptions, physical stores, groceries for sale, its own smart devices and a delivery system which can get things to customers in an hour. In 2018, Amazon became the world's second-ever public company to hit a $1 trillion valuation, after Apple, and it has the second-highest market valuation in the world, after Microsoft. Amazon has sales of over $234 billion and is expected to rise to over $300 billion by 2020. Their subscriptions alone exceed $100 million a year – in recurring revenue! One of the reasons the company has grown is their partner programmes which enables online entrepreneurs and retailers to sell goods on the Amazon platform at a fraction of the cost of setting up a physical store. In the past, you needed tec

Motorists and most small businesses are required to have public or third party liability insurance, but most of us don’t think about protecting ourselves until it’s too late.  You could lose everything if something goes wrong and you are sued for damages.  In a recent case reported in The Times, a cyclist knocked down a woman who walked into the road while looking at her mobile phone. A judge ruled that they had shared liability and awarded the woman £4,162, half the sum she had claimed. However, he could be forced to pay her legal costs of £100,000.  Since the accident, there has been a rush to join cycling organisations, such as Cycling UK, which include liability insurance in their membership package for as little as £3.88 per month. As I say in my book, the wealthy know how to preserve their money and protect themselves against liability. As I’ve said in previous podcasts and in my book, making money and keeping money are two different skills. Make sure you watch your back because you never

The importance of financial education at a young age. How much pocket money should parent s give to their children? Should they earn pocket money in return for chores? Teaching kids the value of money. Help you children to develop a positive money mindset from a young age, as it will have lasting benefits throughout their lives. If you are interested in developing and improving your money mindset, check out more on this subject in my book, Yes, Money Can Buy You Happiness, on Amazon - http://bit.ly/2MoneyBook

8 simple tips to start your day off on the right foot. Develop an abundance mindset by remembering that there is more money in the world chasing good ventures and ideas than there are ventures available. Check out my book, Yes, Money Can Buy You Happiness, on Amazon - http://bit.ly/2MoneyBook If you are interested in developing and improving your money mindset, check out more on this subject in my book, Yes, Money Can Buy You Happiness, on Amazon - http://bit.ly/2MoneyBook

Follow my The 3 R's of Money Management to transform your finances with this simple formula taken from my new book - Yes, Money Can Buy You Happiness, available on Amazon - http://bit.ly/2MoneyBook.   Develop an abundance mindset by remembering that there is more money in the world chasing good ventures and ideas than there are ventures available. If you are interested in developing and improving your money mindset, check out more on this subject in my book, Yes, Money Can Buy You Happiness, on Amazon - http://bit.ly/2MoneyBook

More P2P lenders losing investor’s money and in trouble, as FCA impose restrictions. One scheme issued funds before planning permission was granted and the deal is now in default. Find out how you can learn how to do your own deals from professional trainers, rather than putting your cash into the hands of others. Property investment is not just about buy-to-let or becoming a landlord. There are dozens of strategies from development and conversions to rent to rent and lease purchase options which require little or no deposit and no mortgages.  You can learn these strategies and more by attending short courses where you get to meet expert trainers and investors, as well as network with likeminded people. Who knows, you could meet your future business or JV partner at an event?  If you like further details a property courses, such as a one-day introduction to property investing, drop me a line to charles@charleskelly.net I have a limited number of complimentary tickets to attend an excellent course ru

Longer term mortgages to help stretched first-time buyers on the rise. Barclays Family Springboard Mortgages explained. Watch your pension manager to ensure you are not losing out in poor performing funds. Will you be able to retire? Property investment is not just about buying your first house, buy-to-let or becoming a landlord. There are dozens of strategies from development and conversions to rent to rent and lease purchase options which require little or no deposit and no mortgages.  You can learn these strategies and more by attending short courses where you get to meet expert trainers and investors, as well as network with likeminded people. Who knows, you could meet your future business or JV partner at an event?  If you like further details a property courses, such as a one-day introduction to property investing, drop me a line to charles@charleskelly.net I have a limited number of complimentary tickets to attend an excellent course run by experts, which will give you a clear overview into t

Listen to what the current PM has to say about landlords and letting agents. Respond to the consultation and lobby your MP if you feel the removal of section 21 would be a mistake. You’ve heard a lot of negative news, so is this the end of property as we know it?  NO! Of course not. Firstly, entrepreneurs are adaptable and it’s in their DNA to find solutions to problems. Secondly, property investment is not just about buy-to-let and becoming a landlord. There are dozens of strategies from development and conversions to rent to rent and lease purchase options which require little or no deposit and no mortgages.  You can learn these strategies and more by attending short courses where you get to meet expert trainers and investors, as well as network with likeminded people. Who knows, you could meet your future business or JV partner at an event?  If you like further details a property courses, such as a one-day introduction to property investing, drop me a line to charles@charleskelly.net I have

I recently attended a landlord’s meeting and was shocked at the lack of knowledge in the room, especially regarding important changes which came into effect this month. Firstly, new legislation came into effect from the 1st of June under the Tenants Fees Act 2019 regarding charging tenants – what you can and cannot charge tenants. If you are a landlord and you ignore new letting rules, you could face fines of up to £30,000 and a criminal charge, according to the National Landlords Association (NLA).  Secondly, many of the landlords were unaware of Section 24 removing mortgage interest tax relief on their buy-to-let mortgage. Finally, landlords had no idea that following a court ruling (Caridon Property Ltd v Monty Shooltz) Section 21 notices are invalid unless the gas safety certificate has been given to the tenant before the tenancy agreement has been signed. Listen for more details and PM Theresa May's speech this week on abolishing "no fault evictions", confirming the government's intention to repeal

The incredible story of young entrepreneur, Reggie Nelson, who knocked on doors in London's wealthiest areas, Kensington, to ask for business advice. Find out what happened.  If Richard Branson lost it all today, how long do you think it would be before he would be a billionaire again? Much of his fortune has been made using other people’s money, ideas and work. All they needed was the virgin name.  Develop an abundance mindset by remembering that there is more money in the world chasing good ventures and ideas than there are ventures available. Check out my book, Yes, Money Can Buy You Happiness, on Amazon - http://bit.ly/2MoneyBook If you are interested in developing and improving your money mindset, check out more on this subject in my book, Yes, Money Can Buy You Happiness, on Amazon - http://bit.ly/2MoneyBook

Why do so many new businesses fail in the first few years?

A few phone calls could save you hundreds, if not thousands, of pounds. After our mortgage or rent payment, utilities I’ll probably one of our biggest expenses.  Unfortunately, when it comes to the companies which supply your gas electricity, mobile phones and broadband, it does not pay to stay loyal to them. Same applies to car, breakdown recovery and home insurance.  They say that it cost many times more to win the new customer than it does to look after and sell to existing customers. We all know this is the case so why do these providers take us for granted and offer us poor deals forcing us to take our business elsewhere? It just doesn’t make any business sense at all.  We hear terms like “loyalty” bonuses, but in reality, we get charged more for the same service than new customers. You also see this with mortgage providers and banks. They will offer a better rate to new customers than existing borrowers or make your savings account less competitive by dropping the rate. I frequently chang

Cyber security and credit protection advice from the real Frank Abagnale, the man who inspired the Stephen Spielberg billion-dollar blockbuster movie, played by Leonardo Di Caprio, who worked for the FBI for 40 years advising governments and corporations on cyber security recently gave a talk at Google. His advice on how to protect yourself against cyber crime might surprise you and even scare you. The movie tells the story of how a 16-year-old boy managed to con his way onto airlines and fly free all over the world posing as a pilot.  He also defrauded banks out of millions of dollars through cheque fraud and worked as a hospital doctor and a lawyer despite leaving school at 16 never having studied medicine or law at university. In this episode: Frank's top 2 cyber security tips. My top 7 tips for protecting your credit rating  The world revolves around trust and reputation, so be straight and pay back what you owe ON TIME. If you can’t, inform people instead of burying your head in the sand.

When I was growing up in London there were different waves of migrants coming into the country. Many members of my extended family were coming over on the boat from Ireland, where there was little opportunity and widespread poverty. I also went to school with many first-generation migrants from Cyprus, India, East Africa and the Caribbean. Later on, I saw other waves of immigration from places like Uganda, after Idi Amin literally kicked out all of the Asian population, and the Philippines. I noticed that many of them bought their own houses rather than relying on council housing, perhaps because this was not so readily available to them as it was to the indigenous population.   Like some of my own family, they rented out part of their house or took in a lodger to help make ends meet. Sometimes, the rent they would and would often cover their mortgage and enable them to save money for another house. It was inconvenient in some ways and not as comfortable as having your own space to yourself, but the

You will see that money is everywhere if you have the right 'money mindset, which I cover in my book, Yes, Money Can Buy You Happiness. There are trillions of Dollars in circulation right now. This does not include the hundreds of billions in pension funds, venture capital and hedge all looking for places to invest.  Examples of people who had a different money mindset are two former members of the Beatles pop group, the late John Lennon and George Harrison. John Lennon wife once asked him for a swimming pool and he said, okay I’ll write you one.  When the ISKCON Hari Krishna movement approached George Harrison, for help to fund a new centre in the UK in the early 1970’s, he donated money for a property and wrote the album All Things Must Pass to help raise the money for the movement. One of the massive hits from that triple album was My Sweet Lord, which featured the chant Hari Krishna and went on to sell 7 million copies, outstripping sales by his former Beatle colleagues after the band split. The

In this week’s episode, 5 Quick Money Saving Tips. What’s the funniest money saving tip you’ve ever heard? One of the strangest tips I’ve heard was on a radio show, which had a daily “housewives tips” feature. A radio DJ would say: “send in your money saving tip on a postcard and if it’s read out, you’ll get a free mug!” One tip sent in by a listener recommended gathering up all of the small leftover bits of hand soap and then putting them into a saucepan. You would then boil the soaps or bits of soap meld them together to form new bars of soap! Well if you’ve heard amusing tips one like that let me know, but not on a postcard. In those days, before the Internet, a popular saving tip was to cut out coupons from magazines and newspapers and take them into the supermarket to get savings on certain items. It was always annoying standing behind people rummaging around in the purse for coupons! These coupons still exist only nowadays they can scan them straight into the tills.  One of my wealthiest clients us

You may have read that Facebook is to launch a cryptocurrency, which is already creating a stir among world central bankers and G7 leaders. This is not just a remittance service sending money via a smartphone, but a new currency.  However, some cryptocurrency purists could argue that Facebook’s new digital coin, Libra, is not a true cryptocurrency, although they admit that it could bring digital money into the mainstream.  Critics claim the plans for Libra, backed by a consortium of 28 groups including Uber, Spotify, Visa and Mastercard, is not a genuinely decentralised digital currency.  I’m not a crypto expert or even a fan of so-called currencies like Bitcoin. The price of bitcoin, which has been volatile over the past 12 months and passed $9,000 at the weekend for the first time in more than a year, has been flat since the announcement. Other major cryptocurrencies were also unmoved or only slightly down on the news. The new currency system will allow users to convert US dollars and other i

Your network is your net worth and net wealth, so get around like minded people who lift you up and get away from negative people who drag you down. Choose your friends wisely and get around the right people if you want success, happiness and wealth in your life.  In this episode you’ll learn how to expend your network, where to meet like-minded people and which friends to avoid! Listen to my 5 tips to help you get around the right people and improve your life! In my book, Yes, Money Can Buy You Happiness, there is a section on the celebrities who lost it all. There are countless stories of sports and media celebrities with quickly made and lost fortunes through mismanagement of their money and for advice. I’ve personally assisted form of popstars, I used to see performing on Top of the Pops, who could not obtain a mortgage due to a poor credit history and being behind with their current mortgage. Some had lost their marriages and families. It was sad to meet once wealthy and famous people end up broke.

In this week’s episode: Thousands of buy-to-let investors have sold properties since 2016, when the then Chancellor George Osborne announced punitive taxes on landlords, according to research by Hamptons International. Find out what a former housing minister told me when I confronted him directly about the anti-investor measures and suggested how mortgages could be more flexible for first time buyers. And, Should you pull your cash out of Metrobank? Are interest-only mortgages set to make a comeback? Find out how you can have fun investing in the stock market without taking courses If you like further details a property and investment courses, such as a one-day introduction to property investing, see https://ambassadorshub.co.uk/ambassador/index.php?aid=AMB0427 or drop me a line to charles@charleskelly.net