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How to save money in Spain

How to save money in Spain, and how to find ways to save money online. Saving money is something that we are all a bit interested in. Find out how you can stop losing money on foreign exchage and currency rates and save money on foreign exchange rates instead. Find out how you can save money by an expat financial review. Learn more about expat health insurance and how you can save money on every day living expenses in Spain. You may even be able to save money on tax, and make the most out of your UK pension

Can Peer-to-Peer Lending Help You To Maximise Your British Expat Pension Income?
04 June 2019 @ 17:54

If you are receiving a pension from the UK, you are probably by now rather disappointed in both exchange rates and pensions options for UK citizens living in EU countries such as Spain and France.

The investment options for UK retirees living in Spain are rather limited. You can turn to the banks, expat invest companies, or stock and shares.

A plethora of problems surround current investment opportunities:

  • Bank saving rates are low and can you trust Spanish banks?

  • The stock market is up and down. To benefit from the stock market you really need to invest for the long term. Is that something you want to do when you are an ex-pat living in Spain? Is it a smart way to invest your British expat pension? You also need to keep in mind all of the uncertainty surrounding Brexit.

  • Many expat investment companies offer options. But, you need to make sure you invest with a reliable company

Peer-to-Peer Lending

Peer-to-Peer lending is quickly becoming the way to go for many investors. There are some major advantages of trying out some of the peer-to-peer lending platforms which you can find online. Just make sure you read the terms and conditions before you commit to any lending peer-to-peer lending scheme. Just like with other investments, you can risk losing your money. However, you need to ask yourself if the advantages outweigh the risks you may be taking.

Advantages of Peer-to-Peer Lending In a Nutshell

  • You can lend relatively small amounts to specific lenders

  • Start off small and build up to larger amounts once you have found out if peer-to-peer lending is for you.

  • Good return on your investment. All of the schemes are different but some offer up to 6% return.

  • You can control the scheme yourself avoiding paying commission to third party companies or directly.

  • Outside of the stock market

  • A variety of peer-to-peer lending schemes are available

  • No need to sit in front of the computer all day to monitor the stock market

Of course, there are disadvantages as well. You don't get to meet the borrowers and you will often find that you are lending across borders. But there are some peer-to-peer lending schemes which are well regulated and some of them even offer investment opportunities in regulated markets such as the UK.

As always, make sure you invest to suit your own financial needs. Don't forget you may want to take into consideration other financial opportunities and financial obligations such as expat health insurance and expat funeral plans.

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