Interest rates in the UK have already risen last year to 0.25% to curb soaring inflation, but the Bank of England may have to raise rates further this year as the cost of living continues to go up for millions of consumers. 

Are you prepared for interest rate hikes?

Do you have a fixed rate mortgage? 

In the UK, HSBC are offering deals as low as 1.29% fixed for 2 years and Halifax will fix your mortgage at 1.43% for 5 years.

We may not see deals like this for a long time if base rates rise this year.

When will stock markets fall?

Many pundits are predicting a crash between now and April, but it is extremely difficult to time the market, especially when governments are doing all they can to prop them up or keep them on ‘life support’!

I would not be putting all my money or pension fund cash into the markets right now, but I could be wrong, and stocks could continue to go ever higher. 

However, what I might gain on an upward swing will be a lot less than I’d lose on a downturn or full-blown crash. You have to make up your own mind or seek financial advice. 

Will property prices go down?

People will always need somewhere to live and wealth, life expectancy and population has increased significantly over the last 50 years. China has taken a billion people out of poverty and become the second largest economy in the world.

However, affordability and interest rates could slow the market down this year.

Property prices generally go up and sometimes fall for a few years, but in the long term they move in an upward trajectory.

If you have a low fixed rate and income, personal or rental, then you should be safe in the long term.

Crypto currencies have taken a hit in the last few weeks, but Bitcoin and Ethereum recovered this week despite Pakistan becoming the latest country to ban all Crypto.

SPECIAL APPEAL

We have witnessed major climate disasters, such as the recent typhoon which has destroyed 90% of homes in the southern islands of the Philippines. While we in the west worry and fret over a shortage of some of our favourite food supplies, millions of people around the world are starving.

You can donate to my Rotary Fundraiser – to provide food, clean water and shelter to the people who have lost their homes and will not be enjoying a merry Christmas. https://www.facebook.com/groups/174851346196950/permalink/1621462918202445/

Financial education in investing is the key to building and keeping wealth. Never stop learning! 

Keep watching or listening to my free podcasts on iTunes and subscribe to my YouTube channel for regular financial news and updates. 

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