The UK economy has seen better days and employment isn’t as safe as it once was. Hence, it is not surprising that people are always on the lookout for new ways to earn extra income through investments or side hustles. In this article, you will be introduced to three new ways to generate extra income provided by the fintech sector.
Fintech, which is short for financial technology, refers to a new tech sector that is using innovative technologies to disrupt the status quo of the financial industry, by offering a better customer experience, lower fees and more efficient ways of conducting financial transactions. Furthermore, the fintech sector has created entirely new ways to earn extra income, namely through peer-to-peer lending, binary options trading and through investing in start-ups.
Peer-to-peer lending is a new financial service, which has sprung out of the fintech sector after the 2008 financial crisis. After the financial crisis, banks were forced to reduce their balance sheets to comply with new capital adequacy requirements. This, in turn, led to a sharp reduction in lending to small and medium-sized businesses by the major banks. Peer-to-peer lenders, such as Funding Circle, Zopa and RateSetter, stepped in to fill that void and started to offer loans to SMEs and start-ups on a peer-to-peer basis.
The way peer-to-peer lending works is companies apply for loans on online peer-to-peer lending platforms. Once, both the borrower and the peer-to-peer lender agree on the terms of the loan it is then listed online and private individuals can invest in the loan to generate a high fixed interest returns on their investment. As peer-to-peer loans are riskier investments than bonds they offer higher yields to investors. Due to the current low-yield environment in the global bond market, many investors are turning to peer-to-peer loans instead for exactly that reason.
Binary options trading
Binary options are an innovative financial derivative that allows you to bet on the price of an underlying asset (such as a stock, a commodity, an index, etc.) to close either higher or lower after a pre-determined time period. The payoff of binary options is as the name suggests binary. Therefore, you will either receive a fixed monetary payout or nothing. Binary options have until fairly recently only been available to institutional investors, but through advancement in financial technology binary options can now also be traded by small investors and day traders via online trading platforms, such as Starling Capital.
As the payoff of binary option is a either a fixed amount or you lose your principal invested it is an easy and intuitive way to trade the financial markets. Hence, binary options have become popular for those who want to earn an extra income, even if they don’t have years of financial trading experience.
Early-stage start-up investments
Another new way to generate extra income is through investing in early-stage start-ups. Unlike binary options trading and peer-to-peer lending, though, it is more of a long-term investment. However, an investment that has the potential to generate exuberate returns if you bet on the ‘right horse’.
Start-up investing was previously only an option to wealthy well-connected venture capitalists. Now, however, due to the creation of equity crowdfunding anyone can invest in start-ups and SMEs with only a small amount of money through the use of online crowdfunding platforms.
If you want to invest in new start-ups or small businesses you can sign up to crowdfunding platforms, such as CrowdCube or Seedrs, and choose to invest in any of the listed companies. Once, you have invested and the company has managed to complete their crowdfunding target you will be awarded your shares in their business. The way to monetise your start-up investment is to sell your shares once the start-up is either bought up by another company or it ‘goes public’ and lists on the stock exchange.
The Ultimate American Road Trip: Route 66
If you’re looking for the omega American road trip then you’ve got to hit the Mother Road, otherwise known as Route 66. From Chicago to LA, it’s a journey that’ll provide the experience of a lifetime, showing you the heart of a great nation.
Start in Chicago & Chase the Sun
In reality, the best always head west. Would you rather end the trip in the Windy City, or just in time to catch a gorgeous L.A. sunset on the beach? There’s just something deeply spiritual for folks when we head west. It becomes an adventure. It becomes a vehicular voyage to the sea. Here are some of the highlights you can expect in order:
• Illinois: It’s a pretty straight shot through the state from Chicago through Springfield (which has some stretches of restored Route 66) and southwest to St. Louis. There’s a bit of the bright lights of big cities, but also a good calm stretch of rural to cruise through as well; vast fields of corn and farmland for close to 300 miles.
• Missouri: Once you hit East St. Louis you’ll again be greeted by sky scrapers, industrial areas and the mark of modernity but then it’s another SE straight shot through the entire belly of the state.
• Kansas: You’re only going to spend a little time in the good’ol Kansas heartland. And by little we mean a whopping 14 miles far down in the bottom south east corner. You’ll go through two towns: Galena and Baxter Springs but rest assured there’s great classic restaurants and places that’ve been open as long as Route 66 has been around. In fact, it’s because of road tripper like you just passin’on through that keep’em goin.
• Oklahoma: You’re going to go through two huge metropolises that have “country” written all over’em: Tulsa first and then into Oklahoma City before heading directly west towards the Pan Handle. Of all 8 states, it’s here that they take Route 66 the most seriously. It’s got the most preserved still-drivable miles and you’ll be able to see the remnants of Kiowa, Apache and Comanche Native American land. And, you’ll get to take the same route as families long ago in the Dust Bowl took to escape.
• Texas: You’re going to go through the upper tip of the Texas Pan Handle that takes you through Amarillo. It looks short on a map but the 200-mile stretch of plains is a sight to behold like none other. If you can time it so you cut through here in the afternoon on a sunny day your spirit will be recharged. Just try not to pay any attention to all the truckers!
• New Mexico: Welcome to the Land of Enchantment where you’ll pass through Sun Belt city and Albuquerque. These days, it can be a bit challenging to stay strictly on the old road but with all the sandstone mesas and pine forests it’s definitely worth it.
• Arizona: In Arizona you’ll stay in the northern plains rather than heading down into the really hot areas around Phoenix. Instead, you’ll pass directly through Flagstaff which is a mountain town and where Northern Arizona University is located. The sights here are like a completely different world from everything you’ve seen so far, especially once you begin to head south right before passing into California. Oh, and because of the high speeds on the I-40, this will feel like one of those awesome car track days.
• California: Once you reach this point get ready to cruise through rolling hills, vineyards, orchards, stunning landscapes and then at Barstow you should begin smelling the sea. From San Bernardino and Pasadena to Santa Monica it’s simply breathtaking.
This is only a taste of the experience really. You’ve just got to get out and do it. There’s plenty of great resources online to keep you on track and if you have the time you don’t have to miss a thing. Enjoy!
Key Moments from Trump’s Impeachment Hearing
Heartbreaking; Another School Shooting Santa Clarita, CA
Santa Clarita, California, high school shooting leaves 2 students dead, multiple injured
SANTA CLARITA, Calif. (KABC) — A 16-year-old boy shot five fellow students, two fatally, Thursday morning at Saugus High School in Santa Clarita before turning the .45-caliber handgun on himself, authorities said.
A Los Angeles County Fire Department spokesperson said multiple 911 calls prompted firefighter-paramedics to respond about 7:40 a.m. to the school at 21900 Centurion Way.
Six students, including the gunman, were found in the quad suffering from gunshot wounds, Sheriff Alex Villanueva said at a news conference. All six were transported to hospitals, where two of them, a 16-year-old girl and a 14-year-old boy, were later pronounced dead.
The surviving victims were described as two girls, ages 14 and 15, and a 14-year-old boy.
In a tweet, Henry Mayo Hospital said it had received four patients.
Their names were not immediately disclosed. The sheriff said the deceased girl’s parents were at the hospital. He was notified of the second fatality during a press conference at the school.
Gunman turns .45 caliber on himself
According to sheriff’s Capt. Kent Wegener, surveillance video “clearly” shows the suspect pulling a semi-automatic handgun out of his backpack in the quad and shooting five classmates before shooting himself in the head.
Thursday was the gunman’s 16th birthday, the captain said.
He was listed in grave condition at a hospital, according to Villanueva.
In the immediate aftermath of the shooting, authorities released a description of the suspect as a manhunt got underway. Heavily armed deputies and an armored SWAT vehicle were seen at a home near the school, but it was unclear if the house was connected to the investigation.
The high school remained on lockdown for hours after the incident. Shortly before 11 a.m., lockdowns were lifted at all campuses in the district, as well as Rosedell and Highland elementary schools.
Central Park, at 27150 Bouquet Canyon Road, was being used as a reunification point for parents and students, the Sheriff’s Department said.
Undersheriff Tim Murakami tweeted an apology to parents, saying investigators need to interview “every student at Saugus HS” before they can be released.
In a statement, the White House said President Donald Trump was monitoring ongoing reports about the shooting.
“The White House encourages all those in the area to follow the advice of local law enforcement and first responders,” the statement said.
Gov. Gavin Newsom tweeted an expression of gratitude to the emergency responders.
“We simply should not have to fear for our kids’ lives when we drop them off at school,” the governor said. Addressing Senate Majority Leader Mitch McConnell, Newsom asked: “How many more lives will be lost? How many more shootings will we have to endure? We need commonsense gun reform. NOW.”
Amid the chaos at the scene, the number of reported victims fluctuated throughout the morning. The sheriff later confirmed that six people were shot, including the gunman.