242 episodes

Money Tips by Charles Kelly, author of Yes, Money Can Buy You Happiness.  Charles spent over 25 years in financial services working for banks, Insurance companies and as a qualified Independent Financial Adviser running his practice, before setting up his speaking, consultancy and property business.  Money Tips will help you save, make and accumulate more money whether you are a business owner, entrepreneur, employee or still searching for your vocation.   For more tips and information visit Mondeytipsdaily.com. The Information given in this podcast is for your entertainment and should not be construed as financial advice. As always, take independent financial advice before making any investment decisions.

Money Tips Podcast Charles Kelly

    • Business
    • 5.0 • 4 Ratings

Money Tips by Charles Kelly, author of Yes, Money Can Buy You Happiness.  Charles spent over 25 years in financial services working for banks, Insurance companies and as a qualified Independent Financial Adviser running his practice, before setting up his speaking, consultancy and property business.  Money Tips will help you save, make and accumulate more money whether you are a business owner, entrepreneur, employee or still searching for your vocation.   For more tips and information visit Mondeytipsdaily.com. The Information given in this podcast is for your entertainment and should not be construed as financial advice. As always, take independent financial advice before making any investment decisions.

    How To Build A Secure Future And Avoid A Bleak Retirement Without Working Until You Drop!

    How To Build A Secure Future And Avoid A Bleak Retirement Without Working Until You Drop!

    The baby boomer and millennial generations are facing an uncertain future with job insecurity and drastically reduced state and private employer pension benefits.

    How can you avoid ending up living your retirement days in poverty?

    There are a number of steps you can take, but it starts with your mindset and habits.

    Change your spending and saving habits.

    How? Changing a long-held habit is easier said than done, right?

    Not something you can easily do by yourself.

    The answer is to get help and guidance instead of trying to do it all alone.

    Take a course or programme, get a mentor or a coach.

    What’s the most effective, proven way to lose weight?

    Join a weight watchers’ class or group. Why, this will give you education, support and accountability.

    What’s the most effective, proven way to quit smoking, drinking or drugs?

    Enter into a programme, class or group.

    Millions of people ‘try’ to lose weight, quite drinking or gambling on their own, but most fail and go back to the same old habit.

    That’s why organisations like Alcoholics Anonymous and Gamblers Anonymous have been going for so long because they have helped millions of people change a habit through a combination of coaching and mentoring and learning.

    Want to get fit or a six pack? Get a personal trainer.

    Want to improve your golf swing? Get a coach, like all the best players do.

    Do you want to improve your financial situation?

    Do you want to stop making the same mistakes that got you to where you are today?

    Do you want to be financially free and retire early?

    Get a Money Mastery Coach.

    A Money Mastery coach can help guide you through the financial maze and show you a clear path to financial freedom without the pain of trial and error.

    These 3 Money Secrets Will Make You Wealthy Without Working Any Harder

    Are You Fed Up Struggling Financially?

    Firstly, I just want to thank you for taking the time to join me today. Money problems are one of the biggest causes of stress and relationships breakdowns. I can remember my parents having some almighty rows over money!

    I’m Charles Kelly and for 25 years I worked as a Financial Adviser helping thousands of people solve their money problems. I was successful, but it wasn’t until I discovered the secrets to mastering money that my clients started achieving amazing results.

    I’m also the author of three books including, “Yes, Money Can Buy You Happiness” and “Borrow and Grow Rich”.

    I’m going to uncover 3 money secrets and a simple system for truly mastering money to help you start building real wealth and ultimately live the life you truly deserve.

    Secret 1: Your Money Mindset has got you where you are today – not the economy, the government or your parents.

    It’s far more about what’s in your head than in your pocket.

    Most people have been programmed to think that “money is scarce” and hard to come by, that you have to “work hard for money” or you “need money to make money” – Not true!

    Some of us are programmed from an early age by our parents. My dad would say things like “we can’t afford it”, “money doesn’t grow on trees” and “do you think I’m made of Money?”!

    This language creates a ‘scarcity mentality’ which can stay with us for the rest of our lives unless we take action to change our mindset, our language and habits.

    In my early life, I constantly struggled with money. I was making a good salary, but no matter how much I earned, I never seemed to have enough!  

    I would fall behind on my bills and have creditors chasing me. Being broke is no way to live, which is why I wrote Yes, Money Can Buy You Happiness.

    Then I discovered a mindset shift that turned my finances around. Once I learned this, I started accumulating money and have never been broke since. 

    So, it’s not how much you earn, but how you manage it that counts

    • 14 min
    The Property Boom Continues...

    The Property Boom Continues...

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    • 15 min
    These 3 Money Secrets Will Make You Wealthy Without Working Any Harder

    These 3 Money Secrets Will Make You Wealthy Without Working Any Harder

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    • 20 min
    In this job, you will never run out of work

    In this job, you will never run out of work

    In these uncertain and rapidly changing times, it is important to choose an occupation which gives you some guarantee of a long-term future.

    In the UK, the Home Office publishes an official list of ‘shortage occupations’, for which a qualified and experienced overseas migrant may qualify for a Skilled Worker visa.

    The list includes jobs such as, Health Service and Residential Day Care or Domiciliary Managers, various scientists and engineers, web development professionals, nurses and senior care workers. 

    The official government list for working visa qualification, only covers a fraction of the huge labour shortages in the UK.

    According to the report by Luminate, the following industries experienced a particularly large number of hard-to-fill vacancies at professional level:
    architectural and engineering activities
    computer programming and consultancy
    education
    employment and HR
    financial services
    human health activities
    legal and accounting services
    office administrative, support and business activities
    public administration and defence
    residential care activities
    retail trade
    social work.

    However, both of these lists contain glaring omissions- green jobs. In order to meet climate change targets, industry will need hundreds of thousands of skilled workers to fill new ‘green’ jobs.

    For instance, is estimated that 23 million gas boilers will need to be replaced in the UK, but there are not enough trained engineers to do the work. There is a shortage of 100,000 boiler engineers right now!

    Boiler engineers will have jobs for life replacing old boilers with electric and hydrogen boilers and servicing the new boilers.

    Millions of petrol and diesel cars will have to be replaced as governments around the world tax them out of existence. This will create a huge number of new skilled jobs.

    China is investing massively in new technology and green energy, as is the UK. The US could be left behind in what’s being called China’s century.

    The 20th Century was America’s, after Great Britain’s empire started to unwind following the German led First and Second World Wars.

    China is effectively colonising the world’s resources through trade rather than war.

    If you exclude the disastrous Chairman Mao century, China was one of the leading economies in the world in 18 of the last 20 centuries? 

    The UK government recently announced a massive retraining programme to reskill millions of workers whose jobs have become redundant due to new technology.

    The important word is “skilled”. Tens of millions of unskilled, as well as many skilled and technical jobs in accounting and law, will disappear in the next decade, so prepare yourself.

    Self-driving vehicles, AI and robotic technology are already here!

    Education is key to your future. Not just formal education, but also relevant vocational and on-the-job training in which you can ‘earn while you learn.

    An increasing number of people prefer to quit the rat race and start their own businesses, which is great. 

    Caution. Don’t fire your boss until you can replace your salary with your new business and do not spend all your savings or borrow to set up an expensive physical business like a shop.

    An ideal way to start is to set up a part-time online business, which you can run from home with little or no capital.

    With this in mind, I’m offering 3 free coaching calls sessions to anyone who is prepared to take the time and effort to learn and master money and business. Check the link in the next 24 hours on my Charles Kelly Marketing Facebook page https://www.facebook.com/CharlesKellyMarketer.

     

    See omnystudio.com/listener for privacy information.

    • 19 min
    Landlords, Act Now Or Face A £30,000 Fine

    Landlords, Act Now Or Face A £30,000 Fine

    Most property investors and landlords are proactive when it comes to ensuring the safety of their tenants and properties, which is also in their own interest. 

    Under the latest Regulations, landlords must have the electrical installations in their properties inspected and tested by a person who is qualified and competent at least every 5 years. Landlords also have to provide a copy of the electrical safety report (EICR) to their tenants, and to their local authority if requested.

    The Regulations came into force on 1 June 2020 and apply from 1 April 2021 in England in cases where a private tenant has a right to occupy a property as their only or main residence and pays rent. This includes assured shorthold tenancies and licences to occupy. 

    Landlords who fail to comply could face fines of up to £30,000 or even criminal charges in the case of negligence.

    This does not cover PAT testing, which is still required. In most cases, it is cheaper to throw away perfectly good electrical appliances (most of which ends up in landfill) than calling in PAT testers and waste a day filling in forms.

    The changes to rules and regulations on gas, electrical work, building and a whole raft of red tape every few years are a bonanza for the sectors and create plenty of non-productive jobs. But the costs are ultimately passed on to landlords, tenants and taxpayers. Thousands of civil servants and various people in sector bodies and quangos are employed to constantly change rules and create more red tape to self-perpetuate their own jobs! 

    The same fate awaits perfectly good cars, which have the “wrong engine” this year! The will eventually be taxed out of existence ad end up on the scrapheap of throwaway society.

    For full details and government guidance see

    https://www.gov.uk/government/publications/electrical-safety-standards-in-the-private-rented-sector-guidance-for-landlords-tenants-and-local-authorities/guide-for-landlords-electrical-safety-standards-in-the-private-rented-sector

    Other News
    Plummeting central London rents hits landlords.
    Renters move into the city to take advantage of falling rents.
    Landlords face more arrears as unemployment soars.
    500,000 renters likely to be pushed into arrears.
    Pandemic disproportionately hits younger lower paid workers.
    Self-employed grant recipients shunned by mortgage lenders.
    Peer-to-peer websites to be closed by FCA following a series of collapsed firms
    Beware of dodgy insulation which could render your home worthless
    Pension scammers target 8 million people

    Free Wealth Coaching Session for 3 people – limited offer

    Boris has an unsatisfied CCJ at 10 Downing Street!

    I was a financial adviser for 25 years, but became frustrated with the focus on only being regulated to offer products for the financial services industry. For instance, I could advise a client to invest in a Prudential Property Bond, but could not advise them to invest in a buy-to-let property themselves. I am no longer registered as an industry financial adviser, which means I cannot give specific advice on how to invest your money, but I can offer a wealth of guidance and tips on managing your money more effectively and building wealth over time. I am also the author of the book, , Yes, money can buy happiness, in which I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

    With this in mind, I’m giving away 3 free coaching calls sessions to anyone who is prepared to take the time and effort to learn and master money. Check the link in the next 48 hours on my Charles Kelly Marketing Facebook page https://www.facebook.com/CharlesKellyMarketer

    See also:

    95% Mortgages are back in the UK

    Property buyers overpaying to beat the Stamp Duty Holiday

    GET YOUR BUSINESS ONLINE TODAY, FREE! 

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    • 22 min
    Mortgage lending up to record levels as property buyers scramble to beat June Stamp Duty deadline

    Mortgage lending up to record levels as property buyers scramble to beat June Stamp Duty deadline

    Mortgage lending reached £11 billion in March – the highest since records began in 1993 - as a result of the mad rush to beat the stamp duty holiday, which ends in June.

     

    The Bank of England reported that there were 80,000 mortgage approvals in March, up from 73,000 from the previous year, buy slightly down on February’s figure.

     

    Although the property market has boomed in the last few months, there are signs that some areas are slowing down. I’m seeing a lot of London prices fall sharply, as Estate Agent send me emails every day offering price reductions of up to £50,000 or around 10% of the asking price.

     

    We have almost reached the point where it would be extremely difficult to buy and complete with a mortgage purchase before the end of June if you have not started the legal process already.

     

    Another word for mortgage is ‘debt’. We have seen debt spiralling all over the world as government’s borrow or print trillions of dollars to prevent the economy from going into recession.

     

    Whilst people in work are paying down credit card debt, there are signs that thousands of people are getting deeper debt, according to UK debt advice charity Step Change.

     

    Sometimes this can be as a result of a catastrophic change, like a job loss or divorce. In other cases, it’s purely down to mismanagement of money.

     

    Debts can creep up on you like a disease and before you know it’s too late and you are in too deep.

     

    If this happens to you, take professional advice and do not bury your head in the sand hoping it will all go away. It won’t! In the UK, you can talk to charities such as citizens advice and Step Change

     

    Once you talk to recognise charity, interest and penalty charges on your debts, as well as legal action, can be frozen for 60 days. This gives you breathing space and a chance to put together an informal debt repayment plan.

     

    I was clearing out some of my old files for shredding yesterday from my financial advisor business. I came across several clients who reminded me of the importance of saving and investing.

     

    One particular client first sought my advice 20 years ago when she had been through a lot of financial problems. To cut a long story short, we put a plan together and I arranged a mortgage for her to buy a second property by re-mortgaging her residential home.

     

    At the time, houses were cheap and you could buy a three-bedroom property just outside London for around £80,000.

     

    She had absolutely no money and I remember listing her non-property assets on my fact-find form as “£200” in the bank, and that was it. However, she some equity in her property, a mortgage and some consumer debt.

     

    She used that equity to fund a deposit for a second property and a couple of years later did the same thing again. 

     

    She continued repeating this process over the following 20 years.

     

    As I said, she started with £200 in the bank. In fact, she had several other personal debts so was actually in the red.

     

    When she unfortunately passed away last year in her late 50’s her estate was worth around £1 million.

     

    Not bad for someone who started with £200 in the bank.

     

    Almost all of her wealth was due to her buying properties and holding them. Don’t forget that she was holding his properties during the 2008 financial crash, but they bounced back.

     

    She never bothered very much with Pensions or the stock market because she said she did not understand them and prefer to invest in something she did understand like property.

     

    3 Key Takeaways

     
    She did start taking money seriously and stopped using expensive consumer credit to buy consumer products which went down in value. Instead, she borrowed cheaply to buy assets which went up in value and put money in her pocket.

     
    She built her wealth using other people’s money. Could she have saved £1 mi

    • 19 min

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