UK base interest rates have increased from 1% to 1.25%, the fifth consecutive rise, to reach the highest level in 13 years. In America, the Fed went further raising rates by .75% to a target range of 1.5-1.75 percent and forecasts a 3.25-3.5 percent fed funds rate by year-end. It comes as finances are being squeezed by the rising cost of living, driven by record fuel and energy prices. Inflation - the rate at which prices rise - is currently at a 40-year high of 9%, and the Bank – which last year said inflation was “transitory” now warns it could surpass 11% by October. But everyone knows inflation is already well into double digits with heating and fuels bills doubling for many families. Watch video version - https://youtu.be/hlTwicSwPIw In a survey carried out by the BBC some people revealed that they are skipping meals to save money and cutting back on spending on luxuries and entertainment. With no sign of oil and gas prices coming down soon, this all points to a recession. Crypto collapse continues as BTC losses top 70%  Many major cryptocurrencies have fallen by up to a quarter of their value over the past day Bitcoin crashed below $21,000 on Wednesday, dropping a further 10 per cent overnight to reach its lowest level since the end of 2020 - at $20,630 as I write. Ethereum has collapsed from just under $5,000 in November 2021 to just over $1000 and other cryptos have fallen off the cliff. Some cryptocurrencies have since recovered slightly, though analysts warn that the volatility may not yet be over. Bitcoin is trading at $20,630, and has dropped 25% in the past five days alone its lowest value in 18 months. Its peak of almost $70,000, in November, feels like another era. There has never been a more pressing time to learn how to manage your money – you can watch my free training video by clicking here - https://bit.ly/3H2WcbA How to survive What will you do to survive and even thrive in this recession? 80% OF PEOPLE WHO WANT MORE NEVER DO ANYTHING TO EARN MORE Here are my 10 inflation-busting tips: Loyalty cards and money saving and rewards websites can save you thousands Maximise your returns on savings and investments and invest spare cash into assets Clear credit card debts as fast as you can or transfer to interest free offers Abandon ‘brand loyalty’ for better deals on similar products and services Shop wisely at discount store, look for price reductions and stay flexible Cook from scratch and avoid expensive pre-prepared microwavable meals Get control of your finances and stop spending more than you earn Earn more than you spend by increasing your income Get a part-time job – there are millions of job vacancies in the UK Start a part-time side hustle or retrain for a higher paid career. JOIN ME FOR UK PROPERTY TALK SAT 28 MAY 2022 10AM 75% of mortgages are fixed 40% of fixed rate mortgages are fixed for 5 years. More houses in the UK are owned out right with no mortgages than those with mortgages. Register - https://contexttraining.aweb.page/p/c1e369d0-56b1-45a3-8264-0c0a7e875d23 click here to register #property #bitcoin #cryptocurrency #crypto #interestrates #inflation #mortgage #fixedratemortgage See omnystudio.com/listener for privacy information.

Apple will launch a new ‘buy now pay later service’ (BNPL) scheme in the US to spread the cost of purchases over four to six weeks. The BBC reported last December that over 15 million people in the UK are already using BNPL services run by the likes of Klarna, Clearpay, Laybuy and PayPal. Challenge to traditional; banks. Citizens Advice reported concerns that 12 million adults are using BNPL services to pay for essentials such as food a toiletries. Deferring payment will be made even easier with millions of iPhone users tapping their way into easy debt. The BNPL market is expected to be worth £30 billion by the end of the decade. Apple’s move comes as the cost of living has reached new highs with the cost of unleaded petrol hitting £2 per litre! One haulage firm said the cost of fuelling a truck has risen by £20,000 a year, which will be passed on to customers. The pound fell this week after Boris Johnson survived a vote of no confidence. Although the Queen’s Jubilee celebrations gave a welcome boost to spending on hospitality, consumer spending was down in May as the cost of living continued to rise, according to the British Retail Consortium. Food prices continue to soar as India bans wheat exports and shortages are starting in some countries. There is nothing new about consumer debt, but the speed and ease of obtaining credit almost instantaneously has changed in the last few years. Consumer debt is “dumb” according to Warren Buffett, one of the world’s richest and most successful investors. There has never been a more pressing time to learn how to manage your money – you can watch my free training video by clicking here - https://bit.ly/3H2WcbA Good debt, used for instance to purchase assets, such as property, or start businesses, is smart borrowing, as I explain in my book, Borrow and Grow Rich. The rich and wealthy have been using smart borrowing or ‘other people’s money (OPM) for centuries to finance business ventures and build huge property portfolios. You can learn the secrets of property investing using OPM and build your own portfolio. With inflation running at near double figures the real purchasing power of your cash is being eaten away and will halve every 8 years if consumer prices continue to rise by 9%pa. However, you can use inflation to your advantage using the right assets and good debt. FREE TRAINING – PROPERTY INVESTING SECRETS This Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you 120 minutes of valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up. Live training Wednesday 8 June 2022 at 7pm UK time. CLICK TO JOIN THE LIVE ONLINE EVENT  https://bit.ly/3DlSlCL See omnystudio.com/listener for privacy information.

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In this episode: Market slowdown has already started in UK and US. Sales activity slowing as mortgage rates soar. Property slowdown usually follows a stock market fall, which has happened. Affordability at record high Average UK salary - £31,772 (2021) Average UK house price £278,000 (March 2022) 278,000/31772 = 8.75 x average salary to buy an average property in the UK Inflation over 8% in US and Eurozone, which means higher interest rates. Higher rates could crash the already weakened economy. How will UK market react? A 20% drop in prices will still only leave us to the market was in 2020. Buying and selling at auction – UK Property Talk JOIN ME FOR UK PROPERTY TALK SAT 4 June 2022 10AM Buying and Selling at Auctions – click here to register https://contexttraining.aweb.page/p/c1e369d0-56b1-45a3-8264-0c0a7e875d23 FREE TRAINING – PROPERTY INVESTING SECRETS This Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you 120 minutes of valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up. Live training Wednesday 8 June 2022 at 7pm UK time. CLICK TO JOIN THE LIVE ONLINE EVENT  https://bit.ly/3DlSlCL See omnystudio.com/listener for privacy information.