Do what you love and the money will follow

Tips LIFESTYLE | 03. June 2019

Welcome to 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.

ABOUT ME

Welcome to 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.

Do what you love and the money will follow

Tips LIFESTYLE | 03. June 2019

asdasdasd Welcome to 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.

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ABOUT ME

Welcome to 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.

Latest podcasts.

5 Tips To Avoid Bankruptcy In Business

Listen to 5 Tips To Avoid Bankruptcy In BusinessAs the recession deepens and the end of the furlough scheme looms, Ann Summers becomes the latest retailer to threaten landlords with CVA unless shop rents are renegotiated Some landlords are “burying their heads in the sand”, says Ann Summers boss Jaqueline Gold. Ann Summers is a hugely successful lingerie and sex toy chain, which has brought the industry from the backstreets into mainstream retailing in the high street. They famously selling millions of pounds worth of products through ‘party plan’ selling in customers houses. Gold warned that unless landlords come to the table, they would ask to restructure its rent costs through a Company Voluntary Arrangement (CVA), which would wipe out much of its debt and liabilities such as lease agreements. A CVA is a legally enforceable rescue deal that enables limited companies to close unprofitable parts of the business, such as low performing stores, reduce their rent on others without going into bankruptcy or liquidation which would wind up the business. Jacqueline Gold said landlords needed to recognise things had changed. "Ultimately no retailer can afford to run stores unprofitably, and with business rates set to return next spring, the challenge of property costs is going to become even more pressing than ever," she said. Writing in Retail Week, Ms Gold said the threat of a CVA was "no idle threat".   Source: BBC In my experience, commercial landlords can be ruthless especially to smaller tenants with no clout. I have seen many small business owners made bankrupt by landlords over unpaid rent on a binding lease agreement. 5 tips to avoid bankruptcy Avoid signing long leases especially in your own name. Avoid signing personal guarantees. Limit your personal liabilities and debts. Incorporate your business Take out liability insurance Individuals suffer most from debts and can lose everything including their home. Jaqueline Gold or Richard Branson will not lose their home of one of their companies fails because they are not sole traders or in a partnership.  The above information should not be treated as personal financial advice, and you should always take advice from your own advisers, accountants and lawyers who know your personal circumstances. Other articles available atMoney Tips Podcast - www.moneytipsdaily.com   Tax increases plan to pay for furlough Zero interest credit card deals returning Will demand for HMO rooms rise or fall? EU staff offered chance to go home to work Capita to shut a third of offices permanently  Is this the end of office work as we know it? Home workers one step closer to outsourced What will happen to all the city office blocks? Companies still have long leases on big offices Why live in expensive town centres anymore? Buy-to-let landlords ignore “NO DSS” tenant ban Restaurants extend ‘eat out to help out’ scheme  Thousands trapped in unsellable leasehold flats 2m homeowners apply for mortgage payment holiday Government extends ban on landlords evicting tenants  Unemployment to double 7.5% and economy slump 9.5%  Self-employed, have you claimed your government grant? Lenders not passing on rate cuts and mortgage rates going up! UK property prices jumped by 3% since June following stamp duty cut Why UK Property prices rising after stamp duty cut, despite the downturn? New planning rules will open up more opportunities to make money in property You can create a second income during the lockdown…and come out stronger Learn how to make money from property without deposits, mortgages or cash   Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period.  Are you ready to adapt to the new economic model? As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution?  By Charles Kelly, Wealth Mentor, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast. There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, 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. If you’d like further information on wealth mentoring and coaching, how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com See omnystudio.com/listener for privacy information.

“No DSS” tenant blanket ban ignored by buy-to-let landlords despite ‘unlawful’ ruling by Judge

Listen to “No DSS” tenant blanket ban ignored by buy-to-let landlords despite ‘unlawful’ ruling by Judge“No DSS” tenant blanket ban ignored by buy-to-let landlords despite ‘unlawful’ ruling by Judge The BBC has launched its own investigation into landlords who still advertise their properties to rent using the terms “No DSS” or “Working tenants only”. Last month, a District Judge has ruled that blanket bans on renting properties to people on housing benefit are unlawful and discriminatory. The county court ruling found a single mother-of-two had experienced indirect discrimination when a letting agent refused to rent to her. She subsequently ended up homeless with her two children, when her case was taken on by housing charity Shelter. The judge ruled "No DSS" rental bans are against equality laws. District Judge Victoria Mark heard the case in York County Court on 1 July, and ruled: "Rejecting tenancy applications because the applicant is in receipt of housing benefit was unlawfully discriminating on the grounds of sex and disability" and “contrary to the Equality Act 2010”. According to a BBC report, landlords are apparently still flouting the “ruling”. However, a lower county court ruling may influence other court decisions as a ‘persuasive authority’ in similar cases, but is not binding in law. The National Residential Landlords Association's (NRLA) Deputy Director for policy and research, John Stewart, told the BBC that it had "always advised landlords they should not blanket ban benefit claimants" but the "fundamental issue was the affordability of renting". He added that there are a number of valid reasons why rental listings said benefit claimants were not accepted, including: The timeliness and levels of benefit awards - including complaints about universal credit, a shortfall between housing benefit and private sector rents and in some cases, fluctuating levels of benefit income Banks and insurers saw benefit claimants as higher risk Landlords trying to avoid extra fees for tenants who would fail credit checks and references Complaints about Universal Credit taking months to pay landlords and then giving the rent directly to the tenant have been widespread. Source: BBC Shelter is a left-leaning charity which campaigns for the end of “no fault” evictions, further regulation in the social housing sector and new laws to force landowners to build more social housing. The organisation has an annual income of £67 million, of which £18 million comes from “grants and contracts”, some of which comes from government or taxpayer’s money. They reported a £3.5 million “surplus” (charities do not pay tax and cannot make profits so the make surpluses instead), in 2018/19. The CEO is paid a salary of £128,000 a year – over 4 times the UK national average wage. Shelter holds £16 million in reserves according to its Annual Report 2018/19 and had fund balances of £26 million. Although they could build a lot of social housing with £26 million, Shelter does not provide “shelter” or housing. Left-wing pressure groups like Shelter would like to take the private rented sector seventy years back to the days of rent controls and effective lifelong tenancies or ‘sitting tenants’, which would have the effect of private landlords deserting the market in droves. Ironically, rent controls in the 1950’s and 1960’s led to a shortage of private rental properties and the very rogue slum landlords which led to Shelter being founded. Everyone in the UK should have a home, but does that mean everyone has a “right” to a home or a legal right to rent a home from a private buy-to-let landlord regardless of their circumstances? We are supposed to be living in a free and democratic capitalist country, not a Marxist state. Landlords must also be able to choose who they want to take on as a tenant based on their circumstances and ability to pay. This is not a political blog, but I have to say that socialism and communism doesn’t work. It has been tried all over the world from the failed states of USSR to Venezuela, yet keeps coming back like a virus you can’t kill. Karl Marx idea of capital and land in the hands of the state has been a disaster and led to millions dying of starvation in Maoist China and North Korea. I have current experience with both private and benefit tenants with mixed results. The LHA rates in some areas are simply not competitive or equivalent to the open market rate and dealing with benefit claims is a steep learning curve for landlords. Deposits and upfront rent can also be an issue. Landlords with buy-to-let mortgages may be in breech of their mortgage conditions if they let the property to tenants on benefits. The private sector should not have to pick up the pieces for the failures of successive governments to build sufficient social housing for a growing low-wage population. There has been no major council house building programme since the 1970’s. The last major town to be built with proper infrastructure and rail transport links was Milton Keynes which, along with other new towns such a Harlow and Basildon, were planned in the 1960’s. Councils could easily build more social housing and borrow to do at favourably low rates, but many choose not to for a variety of reasons. Other articles available atMoney Tips Podcast - www.moneytipsdaily.com Zero interest credit card deals returning Is this the end of work as we know it? Is it really more efficient to work at home? Home workers one step closer to outsourced What will happen to all the city office blocks? Companies still have long leases on big offices Why live in expensive town centres anymore? The ‘eat out to help out’ scheme ends Monday Thousands trapped in unsellable leasehold flats Number of homes repossessed falls to record low Mortgage possession claims fell by 97% to just 161 2m homeowners apply for mortgage payment holiday Government extends ban on landlords evicting tenants Unemployment to double 7.5% and economy slump 9.5% Self-employed, have you claimed your government grant? Lenders not passing on rate cuts and mortgage rates going up! UK property prices jumped by 3% since June following stamp duty cut Why UK Property prices rising after stamp duty cut, despite the downturn? New planning rules will open up more opportunities to make money in property You can create a second income during the lockdown…and come out stronger Learn how to make money from property without deposits, mortgages or cash Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period. Are you ready to adapt to the new economic model? As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution? By Charles Kelly, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast. There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, 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. If you’d like further information on how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com   See omnystudio.com/listener for privacy information.

City Centre “ghost towns” CBI warns, as major retailer New Look wants landlords to cut rents to zero

Listen to City Centre “ghost towns” CBI warns, as major retailer New Look wants landlords to cut rents to zeroThe Confederation of British Industry (CBI) head, Dame Carolyn Fairbairn, said that Britain’s City centres could become "ghost towns" unless the Prime Minister Boris Johnson does more to encourage workers to go back to the office, the head of the CBI says. New Look wants rents reduced to zero as part of CVA rescue package. Top 50 UK employers have no plans to fully reopen offices. Major UK employers plan to keep staff working at home and have no immediate plans to bring them back to the offices, a BBC survey reveals.  What opportunities will there be for property investors? Other articles available atMoney Tips Podcast - www.moneytipsdaily.com   Is this the end of work as we know it? Is it really more efficient to work at home? What will happen to all the city office blocks? Companies still have long leases on big offices Why live in expensive town centres anymore? The ‘eat out to help out’ scheme ends Monday Thousands trapped in unsellable leasehold flats Number of homes repossessed falls to record low  Mortgage possession claims fell by 97% to just 161 2m homeowners apply for mortgage payment holiday Government extends ban on landlords evicting tenants  Unemployment to double 7.5% and economy slump 9.5%  Self-employed, have you claimed your government grant? Lenders not passing on rate cuts and mortgage rates going up! UK property prices jumped by 3% since June following stamp duty cut Why UK Property prices rising after stamp duty cut, despite the downturn? New planning rules will open up more opportunities to make money in property You can create a second income during the lockdown…and come out stronger Learn how to make money from property without deposits, mortgages or cash   Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period.  Are you ready to adapt to the new economic model? As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution?  By Charles Kelly, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast. There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, 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. If you’d like further information on how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com   See omnystudio.com/listener for privacy information.

Top 50 UK Employers Have no Plans to Fully Reopen Offices

Listen to Top 50 UK Employers Have no Plans to Fully Reopen OfficesTop 50 UK employers have no plans to fully reopen offices Major UK employers plan to keep staff working at home and have no immediate plans to bring them back to the offices, a BBC survey reveals. Is this the end of the office as we know it? What opportunities will there be for property investors? Other articles available atMoney Tips Podcast - www.moneytipsdaily.com Is this the end of work as we know it? Is it really more efficient to work at home? What will happen to all the city office blocks? Companies still have long leases on big offices Why live in expensive town centres anymore? The ‘eat out to help out’ scheme ends Monday Thousands trapped in unsellable leasehold flats Number of homes repossessed falls to record low Mortgage possession claims fell by 97% to just 161 2m homeowners apply for mortgage payment holiday Government extends ban on landlords evicting tenants Unemployment to double 7.5% and economy slump 9.5% Self-employed, have you claimed your government grant? Lenders not passing on rate cuts and mortgage rates going up! UK property prices jumped by 3% since June following stamp duty cut Why UK Property prices rising after stamp duty cut, despite the downturn? New planning rules will open up more opportunities to make money in property You can create a second income during the lockdown…and come out stronger Learn how to make money from property without deposits, mortgages or cash Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period. Are you ready to adapt to the new economic model? As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution? By Charles Kelly, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast. There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, 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. If you’d like further information on how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com See omnystudio.com/listener for privacy information.

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Welcome to 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.

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