Aug 30

A great bit of motivation here from the man himself. Sayings like this really help to pick you up, when your income strategy or your goals in life, just aren't going to plan. Remember nothing comes easy, but if you work hard the world is out there for the taking.

Everybody stumbles across a golden opportunity at least once in their lifetime. Unfortunately most people just pick themselves up – dust themselves down and walk away"…….Winston Churchill

written by admin

Aug 25

Understanding Marketing

You see a fabulous girl/guy at a party. You approach them and say, "I'm fantastic in bed."

That's Direct Marketing.

You're at a party with a bunch of friends and see a fabulous girl/guy. You have one of your friends approach them, point at you and say, "She's/He's fantastic in bed."

That's Advertising.

You see a fabulous girl/guy at a party. You approach them to get their telephone number. The next day you call and say, "Hi, I'm fantastic in bed."

That's Telemarketing.

You're at a party and see a fabulous girl/guy. You get up, straighten your clothes, walk up and pour them a drink. You open the door, pick up their bag after it drops, offer them a ride, and then say, "By the way, I'm fantastic in bed."

That's Public Relations.

You're at a party and see a fabulous girl/guy. They walk up to you and say, "I hear you're fantastic in bed."
That's Brand Recognition.

written by admin

Aug 21

Do you have any dream killers in your life? Dream
killers are those people who discourage you when you
are trying to change your life. It's amazing how many
people tell their friends and family that they cannot
succeed. This is especially true when you are trying to
do something "outside of the box" like making money
online or starting your own business.

The main argument these dream killers have is that your
goals are unrealistic. They will advise you to be more
"practical", and pretend they are offering you sound
advice.

Many of them believe they are doing a favor by
discouraging you. They think they are helping you live
a life in "your best interest". But really, they are
encouraging you to a live a life without vision.

If you are really motivated toward success, doing
anything less than your ambitious goals will be
unfulfilling for you. You end up wondering what could
have been. You continue to live your life for other
people, instead of yourself.

Your friends and family who discourage you from trying
something new are only giving you insight into what
they would do in your position. They do not have the
vision and the drive that you do. They are only
reacting out of their own fear.

Other people take the path of least resistance, but
that does not mean that you have to. Your goals are
important to you for a reason. You will only be happy
when you achieve them. Giving up on your goals because
other people think they are unrealistic is no way to
live your life.

How to you overcome the dream killers in your life?

You may want to start with choosing who you spend your
time with. If you want to be self-motivated, you've got
to spend time with other people who are self-motivated.
The same goes for the other aspects of success.

If the dream killers in your life are close relatives,
and long time friends, try keeping your business goals
to yourself for a while until you get going. By the
time you've had a little success, they will probably be
a lot more supportive.

Finally, the best way to overcome the dream killers in
your life is to be confident in yourself and your
goals. If you are truly confident in yourself and your
ideas, then no one can stop you.

Keep your goals and dreams in front of you all the
time. They will be your motivation, when some of your
"well-meaning friend" try to discourage you.

Don't let anyone steal YOUR DREAMS!

written by admin

Aug 18

20 more tips to build your home based business and income

#81. Print up some flyers and get permission from local shopping centers to see if you can leave them on car windshields! Always ASK permission first!

#82. Does your community print up FREE Renters Guides, House Buying Guides Etc? (you can usually find them for FREE at your local supermarket). If so, contact them about placing your business ad inside one!

#83. Got a local ice cream man who drives around in his ice cream truck throughout your community? Talk to him about passing out flyers or letting you add a logo onto his truck via a vinyl cling logo banner!

#84. Do a web search for you local county, local township and surrounding areas. I found tons of websites for my area with FREE online business directories which I was able to get my website listed in. They also have offline ADS that you can advertise in too! A great way to also find out about upcoming local community events to participate in!

#85. Are there any professional moving companies in your area? If so, contact them! They usually give out new business packet info to their customers/clients to welcome them to their new home. See about adding your business information to their "New Move" Packs!

#86. Local small town radio stations that are usually found on the AM frequency usually offer very low-cost local area advertising on their small radio station. A great way to get your business info out to those in your local community.

#87. Get your business information printed out onto paper text book covers! You can make them yourself! Donate them to local area adult technical schools and colleges!

#88. Is there a local business in your area holding a upcoming Grand Opening? If so, contact them! Alot of times they are giving away freebies to the first few hundred customers plus they do heavy advertising announcing their Grand Opening. This is a GREAT way for you to capitalize on that!

#89. Get your business info printed up on inexpensive bookmarks! Then give them to local area colleges, adult technical schools, book reading groups, libraries etc. You can usually print up your own bookmarks with your business info on them for less than .8 cents each! This will keep your business info infront of those avid book readers! They are also great to give away for FREE with customer orders!

#90. Put your Business Knowledge to Work! Offer to teach classes to adults!

Examples: If you are with a kitchen/cooking company offer to teach adults to cook! They are always looking for fast & easy ways to prepare healthy meals!

If you are a scrapbooking consultant, offer to teach a class to new moms on how to scrapbook new baby pages!

If you are a Bath/Body/Spa consultant offer to teach pampering classes to women & moms!

You can find adult programs by contacting: Local Community Centers, Local Civic Groups and alot of High Schools & Community Colleges offer evening classes to adults. (continuing education).

This generates leads & sales and only takes a short amount of time!

#91. Put the word out to your friends, family & co-workers that you offer freebies to party go'ers. What do I mean?

Well, people who are holding baby showers, bridal showers, birthday parties, anniversary parties etc. contact me about my freebies. They make up party goodie bags and are always looking for things to stuff them with. Depending on what type of party it is depends on what I donate!

I print out pretty bookmarks, recipe cards, candy wrappers, gift bag tags, shopping lists, chore lists etc. with pretty designs on them along with my business info. I also attach a coupon. I keep my cost down to .15 cents per person. An inexpensive way to reach new potential customers.

#92. Print out your own Re-ordering labels! If you sell consumable goods (foods, spices, soaps, bath products, cosmetics etc) make sure you stick on a small re-ordering info sticker with your business info on it so that your customer can easily locate your information for placing reorders! This is also important to do considering some customers purchase items from you to give as a gift, this way the person who received the gift will also know how to contact you and will become a potential new customer for you!

#93. Establish a Referral program for your business and print out referral coupons! Offer established customers a free little gift or personal discount if they refer a new customer to you! I like to give out 3 Referral Coupons to every new customer I get so that they know they will be rewarded for referring new customers to me.

Established customers are more apt to refer new customers to you if they know they will be rewarded for that referral. Verbal referral programs don't work well, so print up referral coupons or referral promotion cards to hand out to your established customers. I also like to put a "referral reward" sticker in all of my Tupperware catalogs. You can also add a sticker to the backs of your business cards.

#94. Print out Coloring Pages with a small section on them advertising your business and donate them to local area restaurants, daycares etc. I was able to find 4pc. crayon sets for ONLY .05 cents a box which I also donated along with the printed out coloring pages! Parents hang them on the front of their refrigerators after the children are done coloring them which keeps your business in front of the parent daily! Cost: About .03 cents for printed out coloring page with your business info located some where on it and .05 cents for the mini box of crayons.

Try to find a design that relates to your business for the best effect.

#95. Contact your local area Girl Scouts, 4-H Club and other youth groups. Talk to them about you coming in to do a project with the youth's in the group. You can also talk to them about your business fundraiser program if you offer one. During the summer time there are alot of youth camps throughout the community. You can also find youth camps through local churches. Some are seasonal and some are year long programs. The YMCA is also a great resource!

For Example: If you are a Kitchen Consultant, come in and teach the youth how to cook or about kitchen safety. If you sell pet products, go in and talk about grooming a pet. If you sell candles, go in and make some mini candles or teach them how to decorate them for gifts. Be creative!

#96. If you are crafty with your computer you can print out tea bag wrappers with a pretty design on them along with your business information. I purchased a few boxes of individually wrapped tea bags and then put my printed business tea bag wrapper over it. You can hand them out throughout your community.

I like donating them to: Assisted Living Centers, Senior Community Centers, Daycare Centers (to be given to the parents & teachers), School Teacher Lounges, Employee Break Rooms etc.

Example of Cost: .03 cents for a printed color wraper and about .03-.05 cents per tea bag.

#97 Make sure you leave info about Your Business on your answering machine or voice mail message! Not everyone who phones you knows that you sell or represent a particular company! (especially those pesky bill collectors & telemarketers).

#98 Take your outdated catalogs and randomly mail or distribute them thru-out your neighborhood! Make sure you stamp it OUTDATED and provide contact info for yourself so they can contact you if interested to get a current catalog!

#99 Get Business Themed Banking Checks! Your bank checks pass thru tons of hands that could become potential customers or party hosts! If possible get your email address or website URL preprinted onto them! I also suggest using preprinted postal address labels too! (try to get checks that have pictures of some of the products you sell on them or at the very least make sure some where on the check it says: Tupperware Consultant, Avon Rep, and so forth.)

#100. Get your business info printed onto matchbooks! Donate the matchbooks to candle shops, smoke shops, clubs etc. to help get your business name out in your community!

written by admin

Aug 13

20 more tips to help you promote your home based business

Wow aren't I good to you my lucky asuperincome.com readers???!!. As I continued my quest to encourage more people to think about adding on additional streams of income to their current income, and also to enable people to believe, that they can earn more than they already do. I have been listing tips for people to promote their home based business. Here is another 20 tips (to see the rest scan back on this blog). I hope some of these tips help you to earn more money, I really do.

#61. Local Bus Stops & Bus Sheds! Have you noticed that alot of them have local business advertising on them? Call up the company and see how much it would cost you to advertise there too!

#62. Does your local area grocery store allow advertisers to place business ads on the back of their cash register receipts? If so, contact them about getting your business ad on there too!

#63. Local baby expo's and baby events/contests! Set up a booth or table with your business info! These events are always very popular and a great way for you to reach new customers!

#64. Watch your local newspaper for Wedding, Engagement and New Baby Annoucements! Make a list and then go to:

www.searchbug.com
to try to track down addresses. You can mail off your business info to them announcing your business, bridal gift registry, baby gift registry, etc.

#65. Stamp your business info to the outside of all outgoing postal mail! Include your business card on the inside. Do this for personal mail, business mail and for paying your bills!

#66. Contact your local Fire & Ambulance companies and see if you can set up a table at their next BBQ Event or fundraiser event.

#67. Contact LOCAL Assisted Living Centers for Senior Citizens (this is different then a nursing home!) and see if you can come in & offer a shopping oppty. to their Senior Residents! Seniors can NOT get out like they used too so they appreciate being able to shop from home and the majority of them don't own computers & if they do, they are not extremely computer savvy…so offer a one on one shopping experience with them! They also appreciate the adult company!

#68. Are there local small summer concerts held in your local parks? We have them here during the summer months! Ask about advertising options during these community events!

#69. BUY little boxes of Smartie ™ Candies! Put your Business info on one side & on the front side slap on a label that says "Be a Smartie, Earn FREE (Your Company Name) w/a Party!" Hand them out every where you go!

#70. Make up candy packs with your business info attached to them and hand out to the Halloween Trick or Treaters!

#71. Exchange Business Cards, Fliers or Coupons with another Home Party Consultant in a NON-Competing Business and place her filler in your bags & outgoing packages & have her do the same for you! Sort of "scratching each others backs".

#72. The PUBLIC Library! I go in there often and see all kinds of local advertisements for businesses there! See if you can leave a catalog & a few business cards!

#73. Do a CATALOG SWAP with another party plan consultant (NON competing business). See if she will swap a few catalogs with you. You hand out a few of her catalogs at the END of your party and have her do the same! Hand them out as guests are LEAVING the party!

#74. I have a friend & fellow network member who prints out for me…mint books…she prints a pretty graphic on it, along with my business info…they look like matchbooks and inside is a piece of peppermint hard candy! They are inexpensive too! I think I paid $8.00 for 40+ of them! She includes the candy too! I can refer her to you if you want to try those! Tell Tonya that Shelly sent ya!

www.bboopsworld.com/

#75. Do a PARTY SWAP with a Consultant in another HOME party business! (NON-COMPETING!) Tell her if she holds a (Your Company) Party for you…..you will hold a XYZ Party for her!

#76. Ask about getting your info printed onto golf tee's and golf balls & then donate them to a local golf course or mini golf course!

#77. FOAM DRINK COZIES, the foam thingie you wrap around a cold beverage can! See if you can get some of those with your business info on them & hand them out at local sporting events!

#78. Indoor Concert Arena's. Have you attended a concert lately? Tons of advertising by local and national merchants at concerts! Check into doing some advertising!

#79. Children LOVE Stickers! Buy a slew of stickers with your business name on them….hand them out! Chances are that the kid's parents will see the stickers too!

#80. Temporary Employment Agencies…again drop off packets of info about Your Business Oppty to them. The Economy is sluggish in alot of the areas in the USA…ask Temp. Employment Agencies to refer some clients to you who may be interested in a (Your Company Name) Home Business!!! You could offer the staff a discount or free gift for referrals.

written by admin

Aug 09

"Trying times are not the times to stop trying."
 
— Ray Owen, Writer
 

written by admin

Aug 08

Another 20 tips to promote your money making business

yes here is even more tips to help you boost sales and public awareness of your business. By increasing your promotion, you should increase sales, and thus increase the amount of income you earn also. Everyone wants more money, so read on to find out some more ideas. 

#41. Get some T-shirts printed up with your business information on it (both front & back sides) and hand them out to some friends, family and co-workers and ask them to wear them out and about in the community. This is their FREE gift for helping you to spread the word about your business!

Optional: Get ball caps printed up with your business info!

#42. Get some canvas tote bags printed up with your business information printed on it. Find a few ladies who are very active in your community and ask them to use your tote bag and give it to them for FREE under the agreement that they will use it every time they go out in the community for errands & events!

#43. Get a license plate made up for your vehicle! If you have your normal license plate on the back of your car, put your business named one on the front of the car!

You can get one with just your business name on it for about $20-$30 per plate!

#44. Wear a business name tag every time you go out into your community! Get a Catchy Slogan printed on it such as:

A. Ask me about (your company name) Products!
B. I work from home, you can too!
C. Earn some FREE when you party with me!

#45. Local Area Magazines! Does your city publish a City Magazine? If so, contact them about advertising or if they hold contests for their readers offer to donate a product or service for their contest!

#46. Check out your local area State Fairs & Community Carnivals, there are always alot of them going on during seasonal weather.

Ask about getting a booth or table & set it up with your business information! People love to shop at Fairs & Carnivals and they are looking to spend money!

#47. Get some Business Card Magnets printed up and hand them out every where you go! Have your friends & family pass them out too!

People are more apt to keep a magnetic business card compared to a regular one which gets shoved into a drawer or wallet. By having a magnetized card, your business is kept in front of the potential customer/client.

#48. When you give gifts to family, friends, neighbors, co-workers etc. make sure you give them gifts from your own company! This allows other people to see & touch your gift meaning FREE business exposure for you! (plus, you bought the gift from yourself so you are saving money!)

#49. Invite your spouses co-workers over to your home for a little mingling party! Serve some refreshments or do a cookout BBQ and make sure you have a table set up with some product displays!

If you sell kitchen or food products, make sure you use them!

#50. Do a neighborhood childrens shopping party!

I do this before Christmas and again before Mother's Day. I invite the neighborhood kids to come by and shop for gifts for their parents and loved ones. They enjoy shopping on their own and parents enjoy a small break from the children!

To make this successful make sure the products you are offering are economical, I try to keep them under $25.00 each with most being around $10.00 each. Have a table set up with some inexpensive crafting supplies and let the children make their own greeting cards to go with the gifts they have purchased or have a gift wrapping table set up so they can personally wrap their gifts!

#51. Do a joint party with another consultant in a non-competing business. Partying with a friend is always fun! You can hold it at one hosts home, your home or at a local community center. Invite every one you know and have others help you spread the word. Hang up fliers at local centers & businesses too!

#52. Put an AD in the back of local high school yearbooks! You can usually get these ads for around $20.00 which makes it affordable advertising for you!

#53. Put an AD for your business in local Athletic Sport Programs! You can find these at the High School Level, Minor League Level and at Professional Sporting Events!

#54. Contact Local Churches & Religous Groups and see if you can place an AD in their weekly church bulletins & program guides!

#55. Do you have a local Community Play House? If so, get your business ad placed in their play programs! You can usually get ads in them for less than $25.00

#56. Co-Sponsor a Local Youth Athletic Group! Baseball teams, softball teams, cheerleading squads, gymnastic squads and swim teams, etc. are always looking for sponsors!

Co-Sponsoring a team will help get your business noticed in your local area!

#57. Get a Yard Sign! If you have a home business consider getting a Yard Sign printed up and proudly display it in your front yard!

#58. Does your neighborhood hold local Meet & Greets? If so, make sure you go out and attend them! Get to know your fellow community members!

#59. Donate a Raffle Drawing Prize to a Non-Profit Group or Charity in your local community! They are always looking for prize donations for their charitable raffles.

Note: Make sure you get a receipt for tax purposes!

#60. Do you have a Online Business & Website? Consider getting some computer mouse pads printed up with your website address & business name on them! This will keep your website & business in front of them every time they sign online! This encourages them to check out your website often for new products, updates & features!

written by admin

Aug 07

A super income an introduction

 

Okay asuperincome.com is what I hope will be one of the worlds premier home based business sites, providing people with information and knowledge to help them reach their goals whatever they may be. Whether its to create and additional income stream giving them more to spend each month, build themselves a residual income to match or replace their linear income stream. To start a business, or to purchase and run one of the many franchises available throughout the world.

 

I am involved in a global business opportunity that can be worked online and or offline by anyone to make an additional income, or a full time business. And best of all it costs less than £10 to be up and running. I personally work it mainly offline, however I know a lot of people who prefer to work it online. If you read this blog and decide to join me in my business at www.asuperincome.co.uk, I will be with you to help and support you all the way. In fact anyone who joins me as a business affiliate on the link above, I place into the same business team, overtime other people who join at www.asuperincome.co.uk after you do will be placed into your new business. This enables everyone in the team to earn more money faster. If you’re prepared to put in some work yourself at the start the rewards can be surprising. Of course my business wont be for everyone, so this income blog is jam packed full of other ways for everyone to make more money, and have more free time to enjoy it. We will also be discussing ways for people to save money, so it’s always worth popping back and reading from time to time.

 

Personally I have always believed in multiple streams of income, and in theory getting the best of both worlds. For me I think it’s important to not have all your income sources in one basket. So my plan is to build a career with the job, I am in, and as long as we get along  work my way through the corporate ladder, at the same time I aim to work on building myself an additional income stream, allowing me to spend a little bit of money on those luxuries in life. You know the ones nice sports car, decent house, and a few holidays per year.  However as I said I do want to be successful in my career, so it wont be easy, and will mean I need to be very good at time management.

 

Whilst I was at university, I started to wonder about why some people have lots of money and other not a lot. I wondered what makes the successful so good at earning money and living the lifestyle they want, whilst others don’t. I did some research and discovered that the majority of the people I classed as successful or rich, believed in educating themselves. This isn’t about university or college, but about reading books on business, money and personal development. For this reason on my income blog, I will be reviewing the books I read, and tell you how good I thought they were. This is more to ensure that I read the books and then reflect on the learning, I have taken from them.

 

A residual income seemed to be one of the key aspects to a lot of people having a good level of income and money in the bank. A residual income is the opposite of a linear income, a linear income is what you get in traditional employment, you swap time for money, when you stop working, and you stop getting paid. A residual income is different; you get paid over and over again for something you do just once. Good examples of this would be royalty payments that singers get for one of their songs, or rental incomes, that landlords get on a house etc. Another good source of residual income for some is starting a network marketing business, otherwise known as either multi level marketing or MLM for short.

 

Network marketing is sometimes an area of discussion with some people due to a lack of education on the subject. However for many people around the world it represents a way of making a full time or even better income. Like any business (apart from the people who get lucky) the rewards you get out of MLM are related to the effort you put in the early days. The idea is that early on you work hard helping other people in your network marketing business, and then later on as it grows, you work less hard, and the money you get paid still increases, overtime for a lot of people who take part in an network marketing business, you can eventually stop working and still get paid a monthly income. For this reason, I will be talking about the money making opportunity that MLM represents to people all over the world, and the different opportunities that are out there.

 

I will also be talking about the MLM opportunity that I am personally involved in, and the reasons why I think you as a reader of asuperincome.com should get involved in my MLM business. I hope by reading this blog overtime you will like what I type, and decide to join me.

 

Another great way to make money if you don’t have your own idea for a business is by purchasing a franchise. A franchise is basically a business in a box, an existing business which is looking to expand into other regions, you pay for the right to use the name and the business knowledge of that business, and in exchange the business supports you and helps you to develop your franchise in your authorised area. Franchises like network marketing, are a very popular way for normal people to make money either full time or spare time.

 

I believe in educating myself, and think that anyone can achieve anything in life; all you need to do is decide what it is you want to achieve, and then start working out how to achieve it. I have my goals for my business, and know that I will achieve them; it’s only a matter of time and effort.

  

So whatever you want from this site, whether its information on the latest franchise opportunities, to find out more about network marketing, how to save yourself money, ideas and tips on personal development, or reviews on the latest learning materials you will find it all here.

 

Join me on my journey as I seek to create multiple streams of income, both residual and linear. It’s going to be a challenge to develop the career I want, whilst also trying to create an additional income stream from home, however I am up for the challenge, and won’t quit until I get there.

  

written by admin

Aug 06

'Be kinder than necessary because everyone you meet is fighting some kind of battle.'

A sharp tongue can cut your own throat. 

If you want your dreams to come true, you mustn't oversleep.

Of all the things you wear, your expression is the most important. 

The best vitamin for making friends….. B1.

The happiness of your life depends on the quality of your thoughts. 
 
The heaviest thing you can carry is a grudge. 

One thing you can give and still keep…is your word. 

You lie the loudest when you lie to myself.

If you lack the courage to start, you have already finished.  

One thing you can't recycle is wasted time. 

Ideas won’t work unless 'you' do.

Your mind is like a parachute…it functions only when open.

The 10 commandments are not a multiple choice. 

The pursuit of happiness is the chase of a lifetime!  It is never too late to become what you might have been. 

Life is too short to wake up with regrets.  So love the people who treat you right. Forget about the one's who don't. 

Believe everything happens for a reason. If you get a second chance, grab it with both hands. If it changes your life, let it. Nobody said life would be easy, they just promised it would be worth it.  

Friends are like balloons; once you let them go, you might not get them back.

Sometimes we get so busy with our own lives and problems that we may not even notice that we've let them fly away.

Sometimes we are so caught up in who's right and who's wrong that we forget what's right and wrong.

written by admin

Aug 04

Mortgage loans reach 'record low'

Once again it seems to be all doom and gloom out there in the money world. And this is why I think its so important to create more than one residual income stream. Of course this isnt easy (nothing in life is) And also it wont happen overnight, and also it means getting time management spot on, and being able to juggle 2-3 thigns at once. However overtime if you decide to build a second income, around your current occupation then it is very possible. Ity is something I have started to do, working on building a residual income stream, as well as my linear income. Anyway read below to get the current low down on the housing market.


The number of new mortgages approved for house purchases has fallen to its lowest level since records began in 1993, Bank of England figures show.

The number of home loans approved in June fell to 36,000, down from 41,000 in May, as the slowdown continued.

The increase in total mortgage lending was also lower than many analysts had predicted, rising by £3.1bn in June.

The figures were released as a report for the Treasury outlined various options to revive the mortgage market.

Lack of supply

The number of home loans approved has now fallen for 14 consecutive months, the Bank's figures show, and the figure is at its lowest since the Bank began reporting the data in 1993

The credit crunch has reduced the availability of mortgages, especially to those house hunters who are unable to offer a large deposit.

But in recent weeks the cost of deals to new borrowers has been cut by a number of lenders, reversing the previous trend of rising interest rates on new fixed-rate home loans.

"Unless the authorities take steps to restart the mortgage market… there will be more bad news in store for the both the housing market and the retail sector"
Simon Rubinsohn
Royal Institution of Chartered Surveyors

House prices, however, have continued to drop, according to most surveys, with the Land Registry the latest to register a fall in property prices in England and Wales.

An assessment of the outlook for mortgage finance was published on Tuesday by Sir James Crosby, the deputy chairman of the City watchdog, the Financial Services Authority.

One of the options outlined is for the taxpayer to guarantee to billions of pounds of mortgage market bonds to kick-start lending again.

Remortgaging

The Bank said that the number of loans approved for house purchases in June was 69% down on the same month in 2007 and 12% down compared with May.

"In terms of the housing market, things could get worse before the Bank of England cut [interest] rates, given its focus on inflation"
Vicky Redwood
Capital Economics

The number of homeowners remortgaging had also fallen, down to 84,000 in June compared with 90,000 the previous month.

Total mortgage lending showed its weakest rise for eight years, the Bank said.

The figures also revealed how much consumers were borrowing on credit cards and other loans and advances.

The amount of lending by financial groups on credit cards grew by £0.4bn in June, a smaller rise than in May. Lending on other loans also rose by £0.4bn, which was also a smaller rise than in June.

The mortgage market figures could have a knock-on effect on the High Street, according to Simon Rubinsohn, chief economist at the Royal Institution of Chartered Surveyors.

"Against this backdrop, it is not surprising that the High Street appears under increasing pressure with consumers scaling back purchases of a range of household goods," he said.

"Unless the authorities take steps to restart the mortgage market, the likelihood is that there will be more bad news in store for the both the housing market and the retail sector during the latter part of the year."

Interest rates

The depressed state of the housing market was also shown by figures released by the Building Societies Association.

It said net mortgage lending by societies was down from £8.4bn in the first six months of 2007 to £3.4bn in the same period in 2008.

Analysts said the latest mortgage figures signalled further falls in house prices in the coming months.

Vicky Redwood, of Capital Economics, said property prices could fall by 20% in 2008, but she added that no change was expected in interest rates.

"In terms of the housing market, things could get worse before the Bank of England cut rates, given its focus on inflation," she said.

And George Buckley, chief UK economist at Deutsche Bank, said: "Even if they [mortgage approval figures] don't fall any further, these numbers are consistent with house prices continuing to fall quite rapidly."

written by admin