Simon, 21, comes from Skövde and is currently studying to become a university engineer in environmental and energy technology. Simon worked for two years before the studies and has used a lot of the money they made to invest in various investment products.
In my spare time I spend a lot of time learning more about investing in all its kinds. I also wind it up with a lot of sports such as table tennis, badminton and football. I became interested in investing 3 years ago when I took over two funds that my parents had saved for me.
These funds had grown a lot which made me want to know more about it. But the interest in saving got off to a great start 1.5 years ago when a friend’s brother showed me how shares work and I also discovered the website rikatillsamas.se which has given me a lot of inspiration.
How did you get interested in Crowdlending and the Good Finance ?
If you look at banks, they make a lot of money. This is because they take interest from anyone who wants to borrow money. I was looking for ways to use this. Then I saw an article about crowdlending that led me to the Good Finance.
I like the Good Finance when it becomes like you are your own bank by lending money to companies. The fact that you are bidding on interest I think it makes it much more fun too. There is also a lot of information to find out about the companies you invest in.
Do you put any extra weight
In that you can read about the company yourself and what the purpose of the funding sought is before you decide if you want to be part of the bidding?
The most important thing for me is that I think the company seems to have a good idea that I think could work. When it comes to restaurants it can be extra important to see where it is located. Then I read the purpose of the investment and check that nothing seems scary.
Then I check on the credit rating and then bid what I would like for interest on that risk. Currently, I only use manual bidding as I find it quite fun. But could also think of autobud for the right interest rate and risk. My tactic with manual bidding is that I can see for myself if I think a certain investment is worth making. But auto bidding is very good as it spreads out on several loans that reduce the risk, it also saves time which makes investing easy.
Do you have any tips for others on how to get started with their savings?
- I always make about 20% of my monthly investment income. Then I pay fixed fees and put away for food. This way I know how much money I have to live on each month.
- Of course, I also have a buffer on a monthly salary for expenses that may come up or if any major expense for a trip would come to mind. However, do not try to move the buffer.
- Make sure you get involved and watch the money grow. This will give a motivation to keep saving.
- Ask yourself why you want to start saving, how long and what goals you have with it.
Want to read more about how you can invest in small businesses?