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More time at home means many Australians now have the opportunity to re-assess their lifestyle and spending habits and set some serious saving goals. So how can you actually go about it?

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In this episode of The nestegg Podcast, host Grace Ormsby is joined by Melbourne-based Reventon’s Billie Christofi to talk all things finance and the impact of isolation on our hip pockets.

In stage 4 lockdown, Billie shares the importance of going back to basics when it comes to budgeting, methods to re-assess spending habits, and some of the less conventional ways people can boost their wealth at this time.

Thanks Billie, for sharing your insights with the nestegg podcast team!

Have an investment story to share? Get in touch at [email protected] and you might get featured on an upcoming episode!

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There is $17.5 billion in lost and unclaimed super across ...

Retirement

Peer lending surges as investors dodge banks

By Jack Derwin

October 25 2016
Share

Retirement

Peer lending surges as investors dodge banks

By Jack Derwin
October 25 2016

Buoyed by dissatisfaction with the banks and an enduring ‘lower for longer environment’, peer-to-peer lending is proving a popular alternative for investors.

peer lending surges investors dodge banks

Peer lending surges as investors dodge banks

By Jack Derwin

October 25 2016
Share

Buoyed by dissatisfaction with the banks and an enduring ‘lower for longer environment’, peer-to-peer lending is proving a popular alternative for investors.

The practice involves matching creditors with borrowers, so that investors can lend their money at an interest rate independent of the banks.

Australian P2P lender RateSetter chief executive Daniel Foggo says growing inflows show investors are fed-up with traditional lending.

“By cutting out traditional middlemen such as banks, P2P lending offers consumers and businesses a better deal, with borrowers paying less for finance and investors earning a fairer return,” Mr Foggo said.

Over the last nine months, the number of Australian investors registered on the RateSetter platform has doubled, Mr Foggo said, adding that it’s no surprise given current volatility.

“Over the last 12 months the value of the ASX200 has fallen more than 5 per cent, eroding the value of many Australians’ investment and superannuation portfolios. In addition, a recent report found that over a five-year period almost 70 per cent of Aussie fund managers couldn’t match the returns of the index and over a 12-month period, 60 per cent failed to do so. As a result, we are seeing an increase in investment amounts from retail and SMSF investors as they move money out of these underperforming asset classes,” he said.

Over the last nine months, the average amount lent to borrowers has increased by around 25 per cent, with SMSFs now lending an average of $69,566, according to RateSetter.

The SMSF market, which makes up nearly two-thirds of users, is likely to remain the core market for this type of investment, with the platform forecasting continued growth in the sector.

“We foresee a surge in inflow from SMSFs over the next nine months, especially as these investors get a final opportunity to top up their super account with up to $1.5 million, before the government’s latest super wind back takes full effect and restrictions kick in,” Mr Foggo said.

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