I thought I would start a thread for investing here as Paul’s podcast that actually spurred me to look for alternatives a few years ago.
Interest rates at the bank are almost universally nothing now and while your money might be relatively safe there for now you will be losing money to inflation. Not to mention you tend to be ‘feeding the monster’ as they can invest in ‘morally dubious’ investments.
Obviously the posts here are my experiences and I am not a financial advisor so use your brain. Keep some money for a rainy day, invest in plants, trees etc first and once you have more money you can consider these ideas:
Bullion by Post
I have been buying some precious metals from this company and I have been rather impressed with their service to date. Despite them stating they are in high demand and there could be a delay the packages have been arriving extremely quickly usually the next day. They have a live spot price relative to the item you will by so you can take advantage of any falls in prices as soon as they occur and then they are locked at that price when you buy. Also you can sell back to them with a relatively low commission however I have not used this to date.
With potential just now for negative inflation with a no deal Brexit or just inflation from current economic stimulus metals seem a good bet for preserving wealth.
I have a referral code for you to get a free fine silver Britannia coin with your first order over £250. This is the same referral scheme that used when I placed my first order so I can assure you it works. When you place an order I will get a coin too and once you have an account you can set up your own referral system too.
Here is the code to enter at the checkout if you are interested:
I have been using this website for around 3 years now. I am receiving between 5-10% interest from the projects I have selected to invest in. It’s all run for me via an Innovate Finance ISA so its tax free income and you can transfer your existing ISA to this one if needed.
I am on course to receive: £926.88 from projects for the last year. From the bank I would have got about £20, next year I doubt I will get that.
There are a range of projects all with ecology and ethics in mind. I have made money from investments to burn plastic waste while generating electricity, anerobic digestion and greener affordable housing.
The interest rate is based on the perceived risk of the project. Looking at the marketplace there only appears to be one project at the moment that is performing badly. Obviously it is up to you wether you want to risk your money or not.
You can cash out early using the marketplace if you wish. People bid on your debentures and in my case I still made a profit selling early as others bid the price up.
The only current drawback is the lack of projects. Hopefully as the website gets more popular they can source them more quickly.
Big Issue have co-founded an ISA which is green & ethical for those with less saving power. starts at £25/month or, £100 to open. Your money is also not tied up for years, or penalised if you wish to use some of it early. Its called the big exchange
Who knew that furniture could be so violent? Put this tiny ad out there to see what happens: