This title made me smile. It reminded me of playing cards with my Mum when I was young, I think it was called Pontoon or as other's may know it, Black Jack. When the question was asked 'stick or twist?', I was always going bust because I just couldn't resist an extra twist.
That theory changes when you put away the matchsticks and start playing with real money.
Sticking to My Guns
As you might gather from my intro, it was no easy feat, to not invest more into the various platforms. I said at the end of September though that this is what I'd do. So I did...almost...
There were some super projects that went live this month (Oct) and I had to sit on my hands.
It made me think though that if I got more involved and took more time to scrutinise the details of everything I invested in. Rather than using the Auto-Invest features, I could steer my money into more...
The Half Way Mark
Image by Peggy und Marco Lachmann-Anke from Pixabay
I am so glad I found P2P investing allowing me to earn high interest returns on a relatively small investment amount. I love learning new things and this has been so much fun. Watching the money going up and knowing that I am already half way to achieving my goal is amazing!
Speculate to Accumulate
This month I have added new platforms to my portfolio and I am excited to share this with you.
Since starting this blog I have been approached by several companies. Some even offering funding to trial their platforms. However, after much research I selected two new ones to add to my portfolio.
Reading comments by other investors in groups I'm now involved in I firstly chose to try out Wisefund and could not be happier.
Their loans are mostly covered by a buy back guarantee (I only choose the ones that are). They offer higher than normal interest...
Over the month of August I invested funds in a total of FIVE platforms and have very little 'dead cash'. In fact to be precise I have a total across all platforms of 62.74 sitting doing nothing. This is only around 12.5 euros per site on average.
I'm pretty happy with that!
In It For the Money
We don't do this for fun, we do it to earn money so just having my funds invested is not enough. I need to earn money too.
And that is what is happening.
As things currently stand I am averaging a whopping 13.93 %APR across the five platforms, this is just perfect and not even close to what I would have received on the high street.
I am not going to get political here. I have lived in the UK when we were not part of the EU and I have lived there when we were joined at the hip.
Quite frankly I have no idea what will...
Admission: I think I am slightly addicted to P2P lending. It is so much fun watching my money grow daily. I try not to look but, well... it is such a good feeling. Passive income! Not the millions some fancy entrepreneurs make but all the same it is so motivating; I am so glad I made the leap.
Growing in Grupeer
July was going to be a good month, I was feeling optimistic and continued my research of new platforms. The aim, of course, is to balance the levels of risk vs. return, ensuring I diversify and grow my investments.
I added more funds to Grupeer and they continued to impress me. Their site is very user friendly, they offer a buy back guarantee on all their loans. Also their auto-invest activated almost instantly and invested pretty much the whole amount.
I have less than 4 Euros in 'dead cash' and it is generating me a profit somewhere between 13 and 16%...
During the month of June I held my position. Despite no new investment my money still grew while I slept. It is not making me a millionaire but it is a true passive income.
I did some more research, more talking to platforms and found out a lot of interesting information, which I thought I'd share with you. Hopefully it will save you the pain of going down this rabbit hole.
Not so Fast
Did I lose any money? No! Time and energy? Yes! which if you have read My Story and the Freedom page you'll understand both are very precious to me.
What am I talking about? Well there is a P2P platform called FastInvest. I can't give you a full and fair review of their platform as I haven't used it. I found their support team actually very helpful. However, I'm not investing in their system and this is why...
If you google them you will find that they are logged...
I spent much of May searching out new platforms, reading reviews, checking their terms and looking at the risks involved.
Trial or Error
At this point Mintos was still my only investment. It was time to trial another couple of candidates and start to build my portfolio across alternative platforms.
The first one I looked at was a Bulgarian platform called IUVO. They have an office in Bulgaria and this made me feel like I wanted to be part of it. I spoke to the guys in Sofia and liked what I heard, adding 1000 Euros to my account.
IUVO is a nice looking and easy to use platform and their support is on the ball and approachable. They offer the ability to invest in Bulgarian Leva as well as Euros, but unless Leva is your main currency the returns are better on the Euro loans. I invested in the Euro side and am excited to see what will happen. Watch this space!
My first investment after much research was done on the Mintos platform. I particularly liked the way the platform worked. The way they offered a Buy Back Guarantee on most of their loans. And how simple the Auto Invest was to set up.
I invested the relatively small sum of 1000 Euros into two separate auto invest strategies. The platform allows you to choose which countries the loans originate from. What interest levels you want to earn and what type of loan you would like to invest in.
You really could break it down into whatever sector or global location you wanted to. It felt like I was in control of my own destiny.
I selected different settings to see how this affected each of the strategies. This helped me to understand how to tweak them in the future. Importantly, with this, my investment was now diversified over no less than 80 different loans.
That is an average of 12.5...
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