My first €uro

I'm sorry for the absence, but the work has kept me pretty busy lately (and that's a good thing!).

 

In the meantime, I "cashed" my first euro! I told everyone at work, and now I want to tell you too! It's silly, it's only € 1, but it's my first on this platform and I'm happy about it.

During the last few weeks I have selected short-term loans for two reasons:

1) Annual interest rates are much higher than in long-term loans

2) Liquidity is higher both because the sale of the loan is easier to sell and because the maturity of the principal is very short

My diversification among LO's is not homogeneous. I want to keep the annual interest rate high and this limits me to a bit of diversification, however, I am satisfied with the percentages of each LO.

The great advantage of entering the platform gradually is that I have time to learn from my mistakes, to see what works best and what I should not do. I continue to follow the groups on Facebook and some blogs over this and other platforms and I believe that soon I will enter into two others.

Seeing interest coming into our account almost every day is a motivating factor. However, seeing loans that are repaid before the term that had been established is unpleasant because the loans that are paid before their maturity are exactly the ones that have the best interest rates. Law of supply and demand, there is not much that can be done about it.

Regarding the cashback and agricultural loans announced by Mintos this week, I will not subscribe to either of these two hypotheses. Low interest, no buyback and long terms are not for me.

I wish you good investments!

Avoid to panic!

In this image you can see the current status of my account in Mintos.

"Avoid the panic!", it is always simpler to say than to do. I was able to motivate some friends of mine to register on the platform and start investing in it. I must confess that I was very happy and excited to have friends and co-workers sharing this same experience. Sharing ideas and experiences is good, and we'd always have something more to talk about than work.

This is the Overview of Cátia's account. You can rest assured that she gave me the necessary permission for me to show you this data, and I'll explain why

She made the registration and immediately deposit €500. As it was her first deposit, our fellows at Mintos had to manually associate her IBAN with her user account, a process that took about 48 hours, just as Mintos informs all users. 

But Catia is no ordinary user. She emailed Mintos, dozens of messages to my Whatsapp, and spent the whole weekend putting a thousand and one questions about Mintos to me.

I thought I would find peace of mind on Monday when she received the amount in her user account, but I was wrong. I received a message like: "The money came into my account but soon after it left without me doing anything!". I explained to her that this is what we want: the money to be invested without us having to waste time with it. That's what we have auto invest for.

I'm just doing this post because Catia is my wife.

With this I just want to say that regardless of whoever recommends to you some type of investment on this or another platform, start slowly, get well informed and read the FAQ before you start investing, it will save you lots of own and others' headaches.