Guys, we already arrived in the next month. So it is time to publish my next Income Report. In my last one from July I wrote about changing the perspective.
I wanted to focus more on an income-generating view and not that much on a wide diversification. Therefore I decided to start with four platforms, which I want to invest into until I reached my first milestone of 25 EUR/month of cashflow.
Let’s check what my investments paid during August and if there are some intersting information on them.
Set the bar high, but cut it into pieces
To be honest I was wondering after I published my Income Report from July as I was asked about the 25 EUR/month or the choosen platforms. There is no real preference in my eyes. It was just like a first idea which I wanted to work on.
In my report I mentioned to increase my P2P cashflow to 100 EUR/month until the end of this year. Maybe it will take longer, maybe shorter. But the goal is 100 EUR/month which is divided into 25 EUR/month from each platform.
As I still want to take care about my diversification I decided not to increase the highest interest-rate investment only. This is why it is 25 EUR/month. Nothing more – maybe it does not sound fancy, but it is my personal way.
My bigger goal above anything is to create a cashflow from investments covering my monthly salary but the end of 2025. Later on it should be 10k per month, but that is maybe the vision of 2030.
Now it is important for me to focus on increasing those income-streams. Last time I picked four platforms out of my first (random) step. And today I will add the next four platforms, which I will “only” describe shortly but not invest anything until I reached my goal.
If the first platforms drops out because I scaled it to 25 EUR/month the next will follow.
Bondster’s current status: 23,32%
Last month I received 4,17 EUR. This month it was 5,83 EUR without increasing my investment. That is mainly because I increased my investment during July which now paid me additional interest.
From 7th of September on investors will be able to invest into Bitcoin-secured loans on Bondster. This is highlighted as the first P2P lending platform doing so – I am pretty excited how things will go. Especially how the ups and downs of the cryptocurrency will be taken into consideration.
Bondora’s current status: 13,36%
No big changes here as well. It is only 1 cent more than last month as I have not invested anything. This P2P lending platform is running and running and running without having any problems.
The main focus in September is to max out the 400 EUR deposit at Bondora. As mentioned in my last post due to the “small” small interest rate and their investment-cut it is not that easy to reach my goal here – compared to any other platform without restrictions. Therefore it is mainly my #1 where the first investments go to during September.
Reinvest24’s current status: 23,07%
Again it paid off to invest during a month 🙂 Like anytime. The monthly cashflow increased to 6,36 EUR in August as my July-investment first paid an interest. Yes, it is only 0,50 EUR but any invested Euro is a step closer to my goal.
At Reinvest24 investors received an email last week about a new KYC process. You only had to scan your passport and make a selfie – and you are done. This procedure was necessary to improve Reinvest24s’ safety on the platform. That is great news. I mean, currently a lot of platforms are working on their regulation and need updated Terms and Conditions.
Reinvest24 claimed to get regulated when necessary, but until now there is no need. And still the team is improving the security, which I really like.
Robocash’s current status: 53,04%
Robocashs’ interest payment was 13,26 EUR last month, which is the first platform above 50% of my goal. Nothing to celebrate big as Robocash is also the platform where most of money is invested, but still it is a good step.
During August I had a call with Robocash talking about their platform. I hope that it will work out and we will be chatting about it on a podcast-episode. Really looking forward to it.
Review of last month
During the last month only a few numbers changed. And the change was pretty small. This was mainly due to my holidays which we spent in Denmark and Sweden. Especially for the kids they were great. To be honest for myself those weeks were not what I expected. The week in Denmark was pretty “busy” as the weather was bad and we went for a lot of visits.
In Sweden we had a small flat, which was okay on the first view. But with the second it was disgustingly dirty which lowered the overall fun during that week. If course I was happy to meet my parents again, but sleeping in a flat which looked as if has not been cleaned for months was just disturbing – and definitely not relaxing.
But here I am again and working in my fulltime and sidebusiness. So what is my review? I was off and it was not, what I expected it to be. Nevertheless my investments were not affected of it and paid interest. And that is important to know: Independet from what you are going through, your investment money will work for you.
The second step of my new perspective
I already mentioned that I want to invest into a pack of four platforms focussing on 25 EUR/month. Those of you following me already know that I am invested on some more P2P lending platforms. Within my second pack I want to give them a short overview, also they are not in the focus right now.
Twino – By the end of August Twino was celebrating the event of their regulated. The regulation is about a licensed investment brokerage company under the FCMC which allows Twino to offer additional financial service for their clients and even more security for their investors.
viainvest – Also this platform is going for the regulation. On their blog viainvest published some data about their progress during this intense process. In increased my investments here constantly over the last months, also the deposit was not that huge. But still it paid me about 5 EUR this month, which is a great addon.
Debitum Network – In May I increased my investment to nearly 1.000 EUR as the platform is constantly running, not having bigger issues and did not have to fight the covid-problems others had to deal with. Also the interest rate is not that impressiv (around 6% in my case) it is a great way for me to diversify.
Mintos – Mintos is still struggeling as a marketplace. From my point of view Mintos is doing a very good job recovering all the bad debts. But maybe their hunger for expansion led to moment of overpacing – I am the wrong to rate it. Currently there is some cashdrag on the platform which is usual once a year, wherefore I am currently not investing more money.
P2P platforms to mention
Beside those let’s call them temporary focus platform of course the other platforms are also paying some interest. I will list them here including their internal (my personal) interest rate:
Income Marketplace: Idk%
In August I started investing on Income Marketplace. The P2P platform is pretty new and I introduced it to you with a first review. My intial investment made 0,12 EUR last month. Why I am mentioning it? Because in my account statement there is a notive of 0,28 EUR accrued interest payments which should follow. Let’s see what will happen next month.
DoFinance: 3,65 %
Still leave my alone with DoFinance. In August they paid 2,65 EUR to my account, but still I am not having access to my investmented funds.
Debitum Network: 8,14%
Constantly running – no complains here. As I mentioned in my last report I will add Debitum to my second pack of platforms. You probably just read through it in the last paragraph.
This month I havent had any issued wherefore the interest payment was close to viainvest promised 12%. Really liking it as my investment is currently growing jsut because of the interest payments.
During August the late payments from July where paid whereas the interest rate is pretty high at 14%. This will regulate itself next month. But I think it is pretty important to say that overdue payments are paid and it is not only a slogan to hold investors.
Again I received some smaller payments during the month. As Bulkestate is paying interest mainly at the end of a loans term it is pretty hard to show numbers here. Currently I stopped investing until my “personal P2P problems” are solved. Bulkestate is issueing new loans, but still working on some old ones.
What is up for me next month?
“Expect the unexpeted” – a nice quote, which made me struggle during August. I was hoping for a regular office job again, but we had a bigger impact of illness over the last two weeks. Not knowing what happend we split up again into two groups with me working from home again.
Therefore I am really looking forward to September hoping things will normalize fast and I can get into my routines again. That does not mean that I am not doing anything, but I really hate the feeling of writing down five targets for the day not being able to finish all of them.
So, let’s go and tackle the month down!