Financial summary: October 2019

This month was the first month when I got stock options in lieu of salary. Also, one of the P2P platforms I have invested money with went into administration. Bummer.

P2P income

Over this month I will start looking for additional platforms I could invest my money with as I will be getting more money soon and I want to spread it out further across various platforms. I’ve already put a lot of money into my favorite platform and don’t want to expose myself to too much risk. I will look for platforms in EU countries that are mature, but still offer above 12% annual returs. If you have any recommendations please let me know in the comments below!

gosavy.com

I’m moving out of this platform due to a lot of defaulted loans. The returns are “good”, because of late payment interest that I’m receiving for loans that do not show up in the total anymore and are considered “lost”.

finbee.lt

I’ve added the remainder of my lump sump to finbee.lt this month. Current auto-invest amount of a 100 EUR seems to be creating some cash drag as I’ve logged in today and saw 280 EUR hanging around. Maybe this is just a coincidence, but will monitor the account a bit more closely over the November to make sure that money is not building up.

paskoluklubas.lt

I’m on the fence about this platform due to an increasing number of bad loans and the returns being just below my expected 1% per month. I want to keep some money in just so that I don’t put all of my eggs in one basket, but I won’t be putting in more money for now.

crowdestor.com

I’ve finished investing all of the money I deposited in the projects. My investments range from €500 to €1,000 and I’d like to keep them lower, but currently there’s no auto-invest functionality, which is really annoying. I’m bad at remembering to regularly check-in. However, I’m glad that at least some (not all) projects are big enough so that if I log in a couple of days after the project has been launched it is not fully funded. Other than that, the platform has been a pleasure to use and it seems to have enough projects coming in regularly. Also, the returns are starting to ramp up, which is always good.

Will not put in much more money for now and will observer how the platform does over time. Will probably also wait until they implement auto-invest functionality.

envestio.com

The projects are very slow to come on this platform and there is no auto-invest functionality, so it’s really frustrating. I will not add any more money to this platform before the number of regularly added projects picks up and/or auto-invest functionality is implemented.

kuetzal.com

The projects are very slow to come on this platform and there is no auto-invest functionality, so it’s really frustrating. I will not add any more money to this platform before the number of regularly added projects picks up and/or auto-invest functionality is implemented.

mintos.com

I’m moving out from this platform because I no longer have additional pounds to invest due to my recent change in income (more on this here). The platform was also struggling to generate enough pound loans and eventually completely stopped issuing them.

fundingcircle.com (ISA and non-ISA)

I’m moving out from this platform because I no longer have additional pounds to invest due to my recent change in income (more on this here).

fundingsecure.com (ISA and non-ISA)

I was moving out from this platform because I no longer had additional pounds to invest due to my recent change in income (more on this here), but fundingsecure.com went into adiministration. Contrary to the statement on FCA page, I haven’t received any emails from fundingsecure.com. Luckily, I was already moving out of the platform and didn’t have much money invested with them, so my losses are going to be limited. It is still unclear as to what’s going to happen with my investments - will I lose all the money, some or none at all? Maybe another P2P platform could take over the loans? For the time period I will consider the entire portfolio with fundingsecure.com at risk. The accrued interest amounts displayed in the platform continue increasing, so I will carry on recording it.

Primary income

• +£4,585.05Stock options
• +£2,697.67Salary
• +£312.86Pension
• +£495.27Misc
• =£8,090.85

Stock options at Nested.com

The amount of pounds I receive in stock options went up because of my recent decision to sacrifice part of my salary for additional stock options. Will see how this pans out in the future.

Pension

Currently I’m in between pension providers, but in the next month or two AJ Bell should become my primary provider with all of my pension residing with them. I’ve transferred £1,000 extra to AJ Bell this month and will transfer more in the next couple of months as I receive lump sumps in EUR from the family business. Annoyingly, the pound went up so I will get less £ for my €. I also haven’t received the government contributions yet.

I will aim to make full use of the £40,000 annual allowance, but won’t worry too much about maxing out my carry-forward as there’s still plenty of time to reach the £1,055,000 lifetime allowance.

Misc

• +£495.27Child support
• +£20.00Old phone sale
• =£515.27

Child support payments will finish soon as my youngest son is going to turn 2 this month. I also sold my old mobile phone, which had a broken screen and I couldn’t be bothered to fix it to sell it for more.

Cashflow for the month

• +£8,090.85Primary income
• +£1,414.18P2P income
• -£2,926.24Expenses
• =£6,578.79

I’ve booked family holidays this month, which bumped the expenses up significantly.