My ole mum was pretty smart with money, old school only buy it on credit IF it's a lower rate of interest than the bank, and even then only if you have the money IN the bank to cover it ... a truly brilliant financial negotiator. Good grounding then as a lad ... and then a totally awesome bank manager who 'coached me' financially before 'coaching' was even a thing!
So, both ... I buy as she bought so I have 'borrowings' and I lend freely ... but via P2P site Harmoney.co.nz (which is in NZ and Australia though there's others elsewhere) It has the advantages of knowing I'm helping people get a better rate than commercial lenders while earning for myself a better rate than the banks etc would offer. The principle of 'fractionalisation' means there's less risk of losing the lot on one loan ...
Worth looking into ... but take time to properly understand how it works ... I spent a year with a small stake before upping the ante.
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So, both ... I buy as she bought so I have 'borrowings' and I lend freely ... but via P2P site Harmoney.co.nz (which is in NZ and Australia though there's others elsewhere) It has the advantages of knowing I'm helping people get a better rate than commercial lenders while earning for myself a better rate than the banks etc would offer. The principle of 'fractionalisation' means there's less risk of losing the lot on one loan ...
Worth looking into ... but take time to properly understand how it works ... I spent a year with a small stake before upping the ante.