What will you read in my June 2020 monthly report? We will go into major life updates, June expenses, June passive + side hustle income, and June goals.
Summer is here! The last week was extremely hot for Dutch terms (30+ degrees Celsius or 86+ Fahrenheit). Going outside for a walk was great and we’re slowly starting to get back to social life.
What’s great about these temperatures is that you can meet friends outside with sufficient distance. Finally seeing other people again!
Personal Update
I’ll probably take a couple of days off in summer, just to get that vacation feeling again. The days off are what I want my life to look like once I am financially free. I want to work on my passion projects, do whatever I want, and have fun!
My investment strategy has stabilized. I’ll keep the money I currently have in peer-to-peer (P2P) platforms invested there as I want to keep P2P lending about 10% of my net worth. Peer-to-peer lending is still a very great way to make passive income, so I’ll probably never abandon it entirely.
I will be financially free when my passive income is more than €1000 monthly. That is a great thing to strive for!
Highlights of my June month:
💸 Expenses of €832
👉 71% savings rate
🌟Passive income of €104
💰 Side hustle income of €256
June Expenses
Nothing too crazy in June. Here are my expenses broken down:
I’m very happy with my 8.7% giving. I almost spend as much giving as I spend on groceries, which is #goals for me. I said at the beginning of the year that I wanted to give more and wanted to be kind to others. Bringing it into practice means that I hope to inspire some of you to give more to any cause that is close to your heart.
June gives me a monthly savings rate of 70.8%, which I’m very happy with. My goal for 2020 is to have a savings rate of 75%. Currently, I’m well above that with 78.6%.
June Income
Here is a breakdown of income per source:
| Source | Income | XIRR |
|---|---|---|
| Blog | €216 | |
| Website Testing | €22 | |
| Reselling | €18 | |
| Cashback Groceries | €3 | |
| Dividends | €49 | |
| Crowdestor | €23 | 7.71% |
| Mintos | €19 | 13.06% |
| EstateGuru | €8 | 7.89% |
| Funding Circle | €5 | 3.35% |
| Reinvest24 | €0.5 | 5.68% |
| Total | €361 | P2P: 8.47% |
Let’s get into my passive income, side hustle income, and my other income for the month.
June Passive Income
Every month I try to grow my passive income. Passive income means that you’re making money while you’re sleeping. Putting in little effort and getting recurring income. My peer-to-peer loans and quarterly dividends are my main sources at the moment.
Note that I’m not a financial advisor and I’m not giving you any financial advice. I’m only telling you what steps I’m taking.
In June I got a total of €83 passive income for the month.
Here is a breakdown of all my passive income sources:
The biggest part of my portfolio is coming from peer-to-peer lending or crowdlending, which means higher risk and higher return.
Current times are great to see how the different peer-to-peer platforms are responding to the crisis. This is the first time they’re going through something like this. I have to say that the majority of platforms continue to pay and everything is going better than expected.
I was aware of this risk in peer-to-peer lending and I want to be open to you about all the possible scenarios at this point.
To summarize:
- Grupeer had stopped payments to investors, bank accounts have been frozen so nothing can be paid out, and communication has somewhat been resumed. Whether or not Grupeer is a scam is up in the air at this point. Earlier this week they published an article about investors (you can find that here) and they have a KYC procedure going on to unfreeze bank accounts. They seem to do their best to resume operations, you can read their FAQ here.
- Crowdestor has released all projects after the COVID crisis. There are some adjustments made to projects like concerts, but overall they continue to pay as usual.
- EstateGuru and Reinvest24 have continued to pay.
Crowdestor
Portfolio Value: €4,280.93
Average Interest Rate: 7.71%
Passive Income: €22.90
Crowdestor did a great job at keeping investors updated with the project status, I’m very happy about that!
Of the 17 projects I’m invested in, 13 have confirmed that they are able to resume payments. For 4 projects Crowdestor is still discussing. This is above my expectation, so props to Crowdestor!
I currently invested €4280, which has yielded me €22.9. That’s 7.71% yearly interest, I assume this will continue to pick up over the next couple of months.
Check out my Crowdestor review 🔥 for more detailed info.
Mintos
Portfolio Value: €1,780.43
Average Interest Rate: 13.06%
Passive Income: €19.00
Mintos is currently one of the biggest peer-to-peer platforms in Europe, which makes it a good platform to start if you want to start building up your passive income streams.
Mintos is still a good place to invest IF you are careful. Only select the loan originators that have a great rating. They are solid and will be generally safer than a loan originator with a low rating. Mintos has daily updates on what are the outstanding amounts per loan originator, to keep you up to date with how they are doing.
I currently have €1,780 invested with Mintos. That gave me €19 passive income in June, which is a 13.06% average annual interest rate.
🔥If you’re not using Mintos yet, check it out. You can read a detailed Mintos review here or you can sign up directly.
When you sign up with Mintos using my link, you get a 0.5% extra return on any investments made within the first 90 days!
EstateGuru
Portfolio Value: €1,145
Average Interest Rate: 7.89%
Passive Income: €8.02
EstateGuru is my addition to diversify my portfolio and get more into real estate investing.
EstateGuru is one of my favorite real estate crowdfunding platforms out there. Since I started investing with them in November I’ve had great returns, even through the recent crisis they’re acting very professionally. Up until now, the platform is performing as expected.
My first loan is paid back, 8 months ahead of time! This also means that I have some money available to invest in new projects. I’ve invested in 5 new projects with an average interest rate of 11%.
Because I feel like I’ve ended the testing phase with Estateguru, I’ve recently written a review about them.
Currently, I have €1,144 invested in EstateGuru, with a €8.02 return.
🔥 If you sign up using this link to check it out yourself!
EstateGuru is currently giving 0.5% cashback to my readers, on any investments you make within the first 3 months if you sign up using my link.
💸 Sign Up With EstateGuru Here
Funding Circle
Portfolio Value: €775.85
Average Interest Rate: 3.35%
Passive Income: €4.60
Funding Circle was the first crowdlending platform I invested in back in 2018. They have no early exit option so I’m waiting until my loans expire.
All the other platforms I mentioned have a far greater risk-reward ratio, so I would recommend checking them out instead.
🔥 If you’re interested in real estate crowdfunding, I have a list of platforms that I recommend here.
Reinvest24
Portfolio Value: €98
Average Interest Rate: 5.68%
Passive Income: €0.47
In October I started investing with Reinvest24, a real estate investment platform that allows me to invest relatively low amounts.
The thing about Reinvest24 is that they give you yield on your investment, just as if you’re receiving rental income. On top of that, property gains will be calculated on top of that when a property is sold.
🔥 If you want to give Reinvest24 a try, sign up here or check out my complete review here!
June Goals
Here they are:
- Move daily – PASS! Every day I walk for 30 minutes or went for a bike ride
- Work out 3x per week – PASS! I’m very good at working out when I am announcing it on the blog. Let’s keep it up!
- Tweeting 4x per day on Twitter – SOFT PASS! I’m not sure if I tweeted every single day 4 times, I did feel like I was more active on Twitter and I enjoyed the interaction with everyone.
July Goals
- Move daily
- Work out 3x per week
- Tweet 4x per day on Twitter
- Read 2 books
How was your June? Let me know below!
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Marjolein is a financial consultant who has built over €4,000 monthly passive income and saves over 70% of her income. Read Radicals’ inspiring story, from stuck in the 9-to-5 to loving life. Feel free to send Radical a message at the bottom of this page
That is a great savings rate! I like all the passive side money you got rolling in as well. I really need to focus on making money on my blog and starting to think about doing some dividend investing as two small side income streams.
Thanks for sharing.
Hi David, thank you! I’ve been building up passive side income for about a year, it’s fun to see it growing. At the moment I don’t invest in individual companies, just ETFs – which still pay decent dividends.
I love your goals! What books are you planning to read?
Thank you! I’m currently reading the Big Leap & Girl Wash Your Face. Besides that, I’m planning on re-reading Your Money or Your Life. Do you have any recommendations I should check out?
Congrats on another great month! Glad to see things seems to slightly get back to normal at the P2P end. I agree with you that this situation is showing us what platforms are in a stronger position than others.
Glad you managed to exercise at least three times a week.
See you on Twitter 😉
Thank you Tony! Let’s see what the P2P market is going to do for the rest of the year, I’m excited to further diversify my investments going forward. Your June was also quite awesome I saw on your blog!
See you on Twitter 😉