Peer to peer lending platforms – Young generation’s favourite choice for investment!

May 16, 2019

Pranav, 27 years old, a software engineer, Bangalore.

He never thought he would find such a wonderful bride this soon.  Got engaged.  It was thrilling and exciting.  The phase of waiting. Waiting for that wonderful woman to step into his life and tell him what he should do and what he should not.  Time flew by.  The wedding date was just around the corner.  The initial excitement slowly subsided and it dawned upon him that life would not be the same any more.

Is he ready for married life?  What about his financial stability? A project manager in an MNC, he takes home a good package and has been honored with bonuses at the right time.  But, in life, particularly after marriage, not everything can be planned and predicted. Some un expenses would come up.  A birthday party, housewarming function, weekend trip, purchases on impulse, hospital emergency…Every day it will be a rollercoaster ride and some spare money in hands is crucial for a married man.

Pranav realizes that he needs a second income to lead a hassle-free happy married life.  How can he rely on one single salary for which he has to wait for a month? A 30-day cycle is too long for this fast-paced lifestyle.

Gopi, 26 years old, a BPO employee, Mumbai.

A charmer, he always gives his best to her.  Last February 14th, it was a trip to Goa.  No one can be as creative as he is in fabricating occasions for gifts.  Can you guess how much he spends on gifts?

He never settles for anything less than 10 K!

You may wonder – a BPO employee, in the beginning, stage of his career, how can he manage all these expenses?

He stays awake all night to attend the calls pouring from all around the globe – the labor of love.  Even though he works very hard to earn, he exhausts his salary in the middle of the month.  He wished he had some extra money in his hands regularly to impress her with more surprise gifts and outings.  However, a part-time job is not an option.  Already he is burning his soul round the clock at his current job.  No time or scope for such enthusiastic ideas.  He has some savings that are in hibernation mode.  No movement.  No growth.  He can use it as capital to earn extra income.  But how? One mutual fund promises good returns in 36 months.  But there is a Saturday and Sunday every week.  He wants to see the returns sooner.

Karthick, 29 years old, a VFX artist, Chennai.

A responsible guy, the entire burden of his family on his shoulders, he has to keep an eye on every penny he spends.  After office hours, he comes back home and starts working on the projects he has on a freelance basis.  Even in the late evenings, you can spot him at his home, in the hall, sitting in front of his laptop, working; his wife in the kitchen; his kid, a toddler, laughing and screaming and walking around in the room.  A family man at work.  Always.

One thing that makes him lose sleep in the night is, that he hasn’t started saving or investing yet.  Sometimes it’s terrifying for him to think that there is no backup.  Now, whatever he earns in a month, in 30 days, is spent to survive the next 30 days.  The lion goes for a hunt, comes back with prey, and feeds the family.  The next day, the lion goes for a hunt.  Life cannot be like this forever.  The family needs a backup.  For dry seasons.  To manage emergency expenses.  In a blink of an eye, the kid would grow up and be ready for schooling.  The family expenses would keep on increasing in the future.  Apart from creating wealth and backup, there are festivals and occasions every month and the couple has to put on a decent show in front of relatives, friends, and neighbors.

Three different stories.  The conclusion is the same.  Be it Pranav or Gopi or Karthick; the reasons might be different.  The lifestyle might be different.  But what they need is ultimately money.

Million problems.  One solution.  And that is money.  Who can deny it?

Working and living in different cities, all 3 need some extra income regularly and have chosen to invest in peer-to-peer lending platforms.

While there is a range of traditional models and hundreds of options available in the market to invest, why did they choose p2p lending sites?

Because they cannot afford to take a risk, having said that, they want to earn solid returns from the very beginning. Not sure whether it is possible with any of the traditional investment models. But an efficient and transparent peer-to-peer lending site can meet all the demands mentioned above without putting the hard-earned money at risk.

For example, at LenDenClub, one of the largest online money lending sites, you can invest an amount of your choice and start earning solid returns.

Furthermore, the investment is diversified among as many borrowers as possible and thus the risk of poor performance is mitigated.

Flexible investment options.  Higher returns.  No market volatility.  All make sense.

So…Happy investing!

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