Bankrate’s Post

Interesting story from the BBC News this morning talking about the small but trending increase in unemployment. Sadly, over 200,000 people lost their jobs between May and July but actually the article doesnt go far enough to explain what the income distribution of those job losses are! If they are low income roles we will see dramatic use of food banks but if they are blue collar roles that would create downward pressure on house prices and consumption. I still believe the house price market will drop by up to 25% over the next 2 years to ensure affordability trends back to long term normals which will help first time buyers enter the market in 2026. It may not be a huge property crash with all the government supports available but it just means it will take longer to recover. The Bank of England need to get inflation down to <4% for The Conservative Party by May for any chance of an election win. Interestingly I had a conversation yesterday where a colleague thinks the election would happen in May 24 resulting in a coalition that collapses within 12 months and then a new government installed! I think that getting inflation under control is the main election winner so it will be an October/November 24 election. #election24 #inflation #interestrates

You need to be careful with lifestyle inflation. It's a pretty common trap: when your income goes up, there's a temptation to increase spending. I recently spoke with a client who shared that after a salary increase, they went for a big lifestyle upgrade, then increased expenses began to press on their budget A smart choice would be putting a portion of that raise into savings and investments and putting building wealth and financial security first You wanna know how? Let's talk about it, click here to schedule a meeting with us: https://lnkd.in/gZyrf99g 📞⁠ #finances #money #financialplanning

According to a recent CNN article (1), the average American family is paying $709 more for living expenses than they did just 2 years ago. Also, salaries, wages, and other earnings are stuck at 2019 levels. Ouch! 🪼 What can you do to avoid the financial squeeze if your expenses keep increasing and your salary doesn’t? Join with Cap One Lending in your personal fight 🪖against inflation.  Consolidate high-interest debt (credit cards, other loans) to save hundreds, even thousands of dollars monthly. 💸 For more information on saving thousands of dollars in interest payments, contact the professionals at Cap One Lending today. Phone: 816.905.1111 Website: www.caponelending.com #debtconsolidation #cashoutrefinance #inflation2023 Nova, A. (2023, August 11). US inflation means families are spending $709 more per month than two years ago, CNN Business, “https://lnkd.in/gXTsH_8q

https://lnkd.in/dJWmzmGj As the UK economy continues to navigate the aftermath of the COVID-19 pandemic, credit and collections managers are facing a complex landscape shaped by shifting labor markets, changing wage dynamics, and evolving consumer spending patterns. The recent developments in inflation and wage growth have brought some relief to households, but the broader economic context presents challenges that demand attention from financial professionals. #debtcollections #debtrecovery #CollectionNews #CreditAndCollectionsProfessionalsGroup

Improving personal finances set to fuel consumer spending in 2024. Despite overall consumer confidence holding steady at -21 in March, positive signs are emerging. Confidence in personal finances for the next 12 months surged to +2, marking its highest level since October 2021 and a significant improvement from March 2023. This uptick is likely attributed to declining inflation, robust wage growth, and expectations of Bank of England interest rate cuts. Additionally, sentiment regarding personal finances over the last 12 months saw a slight improvement, rising to -13 in March. Confidence in the economic situation for the next year also saw a modest increase, reaching -23 from -24 in February.

Consumer relief amid a strained fiscus by Dr. Francois Stofberg This faltering economy, driven mostly by a failing state, means salaries and wages failed to keep up with inflation in 2022 and 2023 – resulting in a decline in household buying power of about 5%. #efw #economy #growth #investment #wealth #interest #budget #wealthcreation #finance #financialservices #advisors

Interest rates are a wealth-transfer tax, taking from the working class and giving to the ultra upper class. It works in 2 ways; 1. All money in circulation is borrowed by the Government from its own central bank…at interest, While the Principal of the loan gets distributed, like in the darkest most corrupt of regimes, to “contractors”, “friends and family” and “projects”, the interest bill goes straight to the fiscal budget. Repaying this interest means the government now needs to raise taxes, just got stay afloat. Working people pay taxes and instead of getting better service from their governments they get more debt. 2. When you need money, to buy a house a car or to pay for older debt, you borrow. Well, the higher the interest the more wealth gets transferred in the transaction from you, to the people who have money - to lend you. Of course there is a 3rd mechanism, the denied opportunity one. If you can’t afford to use debt to purchase assets, well - someone else will. So, when an unelected public servant is threatening the “world” with permanently high interest, she is only threatening you and I here. To her friends this is sweet music. Incompetency or malice? #economy #tax #interestrates #government #investing #raisingcapital https://lnkd.in/e5Kn3jkf

26% of people earning £100,000-plus ‘living month-to-month amid costs The key points.. - Just over one in four individuals earning a six-figure salary admit to paycheck-to-paycheck living. - 90% of those in this predicament attribute it to the relentless cost-of-living surge. - 38% point fingers at rising mortgage payments, while 29% grapple with debt repayments. - Even the well-off face the squeeze: 11% cite car finance costs as a challenge. 🌟 Insights: - Wage stagnation: A whopping 69% report that their pay hasn’t kept pace with inflation. - Age matters: Younger earners, especially those under 40, feel the pinch more acutely. Is this down to poor budgeting or cost of living? #Wealth #Budget #Finance #Money #Investments

62% of Americans are living paycheck to paycheck, as holiday spending, credit card debt rise. This article from CNBC highlights the financial stress Americans are currently facing. Earned Wage Access can help alleviate this stress. It's a zero-cost benefit with tremendous upside for both employers and employees. Check out the article for more information. #payactiv #ewa #ondemandpay #recruitment #engagement Link to the article: https://lnkd.in/eXNBwZ35

Lock advice at a glance! Current position: Cautiously float! REPRICE RISK: Low “Tomorrow morning has two morning economic reports scheduled for release, starting with the ADP Employment report at 8:15 AM ET. It attempts to track the number of new private-sector jobs added during the month. However, since it is not a government agency report, it isn't considered to be highly important. It is easy to argue that it is given more attention than it deserves, particularly because many rely on it to predict the monthly government figures, often without success. Forecasts are calling for July to show 155,000 new private-sector payrolls. Good news for rates would be a much smaller number.” (want the full daily report, just email me the request) Looking to see what rate & Program best fit your needs? To schedule appointment and to provide me with basic information, click the link https://lnkd.in/gRRVFXAA Loan Level Price Adjustment Reminder: all lenders have already implemented the LLPA price adjustments, which are not favorable for most loans and will raise consumer rates. You can see the new LLPAs here: https://lnkd.in/egNtCHNW #azmortgagaebroker #peoriaazrealestate #phoenixarizona #arizonamortgages #glendaleaz #barrettfinancial #firsttimehomebuyer #azhomeloans #JeffPickeirng #pickeringgroup #AZBroker #MortgageRates #HomePurchase #Refi #purchaseahome