Annual expenses update: How did COVID affect my spending?

Uh-oh.

Work from home, save on lunch, no expensive trips abroad, less eating in a restaurant and so on, right? I should have easily saved a ton in expenses in 2020. How did it go then?

Total expenses increased by over 3,000€. For. Fucks. Sake.

How did that happen? Read on to find out.

How am I investing in 2021


I'm still alive, thank you all who've been asking. I just have been focusing on other things than this blog lately. Work has been busy and other side projects as well. And frankly, I got a little fed up writing about the same stuff. But now I've got a few new ideas. One of them requires more people to use my FIRE caluclator. Though the input data is completely anonymous it lets me understand gross and net income levels across different countries.

NEO Finance review 2021: Efficient peer lending without middlemen

 


I haven't written new reviews for a while, mostly since I don't like writing bad reviews and there's little to say about most platforms. But for some reason NEO Finance was different. Two things stood out:

  1. They are listed on the Vilnus Stock Exchange (VSE) with the ticker NEOFI
  2. They operate a payment initiation service Neopay

I'll explain further why I think these are important, but first, let's cover some more background.

What is P2P investing?

Originally the term P2P investing (peer-to-peer investing) was coined to refer to the form of investing where individuals (peers) lend to other individuals, with the use of a service (aka. a platform) that facilitates the transaction. The borrower would raise a loan of e.g. 1000€ and multiple private lenders could pitch in to the loan.

October review: the safest crowdlending platform in Europe?

 

Background

The platform that's nowadays called October, was founded in France already in 2014, making it a fairly old player in the field. It was originally called Lendix, but they changed their name at some point. From a web search point of view, it's pretty dumb. How do you search for "October reviews" again?

My annual expenses jumped to a crazy 29,814 €!

Lifestyle inflation is a bitch. Last year I reported that my yearly expenses were a measly 26,477€ and I didn't think of updating this post for 2019. I figured it'll be around the same amount.

Imagine my horror when I realized now that actually my expenses have jumped by 10%! And of course my salary didn't, which would mean less money is going into savings and investments.

This of course needs further investigation. Where am I spending more?

How has COVID-19 affected lending and stock market?

Surprisingly little, it would seem. But it's likely only the surface.

Quality platforms have been quick to respond. Some platforms such as Swaper have tightened their risk management protocols. This is necessary for them when they provide a buyback guarantee, as doing otherwise could risk them ending up insolvent.

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