There’s a big difference, don’t confuse the two. Broke = someone with no money Cheap = someone with a scarcity mindset Broke people know money is tool. Cheap people believe money is the goal. Be broke, not cheap.

If you want to be a millionaire you wouldn’t take advice from someone who’s broke.

What does this mean for the UK stock market ? Effect on the UK Stock Market: The Bank of England's decision to maintain high interest rates and proceed cautiously with any rate reductions will likely have a dampening effect on the UK stock market in the short term. The cautious stance may: 1. Reduce investor confidence: Investors may have been expecting faster rate cuts, and the lack of immediate action could temper market optimism, especially in sectors sensitive to borrowing costs like housing and retail. 2. Impact corporate profits: Higher interest rates increase borrowing costs for businesses, potentially leading to lower profits and affecting stock prices, particularly for companies reliant on debt. 3. Support for financial stocks: On the positive side, banks and financial institutions may benefit from sustained higher interest rates, as they can maintain better margins on loans. 4. Lower inflation expectations: If the BoE’s cautious approach successfully curbs inflation, this could stabilise markets in the long term, reducing uncertainty and encouraging investment. Overall, the BoE’s decision signals a focus on inflation control over stimulating growth, likely leading to a mixed response in the stock market depending on sectoral sensitivities to interest rates. Key points: - The Bank of England (BoE) decided not to reduce interest rates further, keeping them at 5%, with an 8-1 vote. - The BoE is cautious about cutting rates too quickly or by too much, focusing on inflation control. - Investors had expected successive rate cuts from November, but the BoE did not endorse such moves, indicating a slow and cautious approach to rate reductions. - The BoE will maintain its balance sheet wind-down, with gilt sales slowing from £50 billion to £13 billion in the next 12 months. - Recent UK economic data, such as slower inflation and stagnant GDP growth, hasn't convinced the BoE that inflation is sufficiently controlled. - The BoE expects inflation to pick up slightly by year-end but at a lower rate than previously projected.