Peer To Peer Lending

You may have heard of peer to peer lending but what is it?

Peer to peer lending involves lending money directly to people and businesses who need it cutting out the banks and passing more of the profits to the people who’s money is being used. Peer to peer lending also appeals to investors as the interest rates are typically much higher than the abysmal rates offered by banks on savings at the moment.

How does it work?

Peer to peer lending is really simple platforms match together people who require money with people who have money to invest. As an investor you can choose which platforms you use which offer a range of different levels of flexibility around which opportunities the money you invest is used to fund.

Who am I lending money to?

When you invest money in peer to peer platforms some allow you to choose specifically who you lend money to you. Most platforms lend to businesses but there are some that lend to individuals. A lot of platforms also do credit checks on the businesses and individuals that they lend to.

Is it safe?

As with all investments there is always a risk of losing your capital but peer to peer lending has a good track record, always check the individual platforms you are using to see there statistics. I also recommend only using platforms that are FCA approved or the equivalent in your country. Lots of the peer to peer sites also secure the loans they are making against assets to reduce the exposure. All investments come with their own risks make sure you know the risks and safeguards that are in place before investing any money.

How do I get started?

If you like the sounds of peer to peer lending and want to give it a try you can get started today. All you need is the money you are willing to invest and you can get started.

Some of the peer to peer websites I recommend and use personally are:

Funding Secure

Funding secure have a reliable track record and also allow you to choose which investments you invest your money in and how much you invest in each one. Their site is very clear and easy to use and they send you emails to let you know when new opportunities are available. They also offer an IFISA so you can make your investments tax efficient. Funding Secure also offer interest rates of over 10% on most of their opertunities which makes it very appealing.

You can also look at their statistics to see what their books look like.

If you sign up using my link and invest over £1000 you will get £25.

Lending Crowd

Lending Crowd also have a good track record. They also allow you the choice between an auto investment account where you just put your money in and they automatically spread it across a range of opportunities for you and ensure that there your money is well diversified, which is important when making any investment.

If you sign up using my link you will get £50 if you invest £2000 or more, terms and conditions can be found on Lending Crowds website.

Kuflink

Kuflink are a relatively new peer to peer platform, what makes them appealing is that they invest up to 20% of their own money in each investment opportunity, this makes the investments much safer and also increases investor confidence in the opportunities.

If you sign up using my link and invest £500 or more you will receive £100 which is an instant 20% return on your investment! Terms and conditions can be found on Kuflink’s website.

Other Platforms

There are also many other platforms available so if none of the above ones appeal to you then I would recommend searching the web and checking out some others.

When investing I would always recommend that you do your research and check out exactly who you are giving your money to and what they will do with it to check its safe.

Diversification

Diversification is always important when making peer to peer loans its always a good idea to spread your money across a range of different platforms and different opportunities within those platforms.

Further Information

Two blogs I highly recommend you check out that provide lots of information and review on peer to peer lending:

https://p2pblog.co.uk

Disclaimer:

The above article is purely for information purposes only, investments come with their own risks and you should always do your own research before investing. When investing in peer to peer loans your capital is at risk.

 

Freelancing

Freelancing is a great way to use your spare time to increase your income and use your skills to increase your income.

There are many different platforms available that match you with individuals that require items of work or projects completing and are willing to pay you for your time and skills to work on them. The best thing is that you can choose exactly the type of work that you want to do and also the size of the work you want to do.

Freelancing also gives you the freedom to work anywhere in the world all you need is a laptop and an internet connection.

So how do you get started?

1. Think about what skills you have to offer

The skills you have are what you are selling here so you need to think about what you can offer. Highly desired skills are currently in the tech space but there are opportunities in a wide range of areas from design through to translation. If you don’t have any skills in the desired areas but are interested in learning them you could also learn new skills. You may also be able to find some projects that are willing to let you learn on the job or you can offer to work for very little money or even free at first to build up your skills and portfolio of work.

2. Brush up on your skills

Once you have identified what skills you have to offer brush up on them. Its important to always keep your skills fresh and up to date so that you can offer the best service possible.

3. Put together a portfolio of work

Your portfolio is your CV in the freelancing world, people don’t have much information on you so you need to make yourself stand out from the crowds of other people who also want the freelance work. You do this by putting together lots of good pieces of work you have done in the past that demonstrate your skills.

4. Bid for work

Now you are ready to go and apply for work, you can do this by signing up on sites such as Upwork or Freelancer.com then start looking for opportunities that interest you and match your skills. Contact the people offering these opportunities and justify to them why they should choose you using your portfolio.

You can also find other freelancing providing platforms by searching online.

5. Complete the work

When you are successful in finding an opportunity that you are interested in and the person offering the opportunity gives it to you now you have to complete the work.

Ensure that you communicate clearly and set expectations early on with the person who has hired you, let them know how long the project will take you, when you expect to have each part completed and confirm the payment structure so everyone knows what to expect. Communication will be important throughout the work so ensure to check in with them regularly to ensure they are happy with the work you are doing and know how well you are progressing.

6. Reviews

Ensuring that the person who hires you has a good experience is very important as you want to ensure that you build up a positive reputation with each piece of work you do. Once a project is finished always ensure that you ask for feedback and get the hirer to give you a review which you can use to share with other people when you are looking for your next project. Overtime you can build up a series of reviews and use the feedback to improve the service you offer which will mean you can charge more money and be offered more work when looking for opportunities.