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I am rewriting this post because I already wrote it and it disappeared into the bowels of the internets. So. 🙂

I opened an account with Lending Loop in December 2016 and made my first deposit on December 28th. 

I LOVE the idea of Lending Loop and so far I LOVE the execution of Lending Loop. As a past and current small business owner I know how hard it can be to obtain reasonably priced financing through conventional methods and fully understand that there is a market for P2P lending. Do I believe that debt is a necessity? No, is it useful? Yes.

Consequently I’ve made investments  in a variety of businesses, from $25 up to $325 depending on the risk band and company information provided and scoured off the internet. Most of the loans are in between those two numbers.

I earned $91.64 with Lending Loop this year and made deposits to a total of $2,936.33 and investments throughout the year. If you translate this in hours I spent on reading and learning and thinking about the whole thing… that’s definitely less than minimum wage but as I invest more that will go up. 🙂

The majority; 41% of my investments are A’s, 35% B/B+ and the remainder divided between C (more heavily) and D, the least. I do not intend to make any further investments in D-rated loans or riskier. It’s not my style, I’m uncomfortable with it and so here we are. I aim to keep my gross yield hovering around 10%, which after somewhere around 25% tax should net, haha obviously… 7.5%, not accounting for any delinquencies of which there were none this year! I do expect to get stuck with some next year.

I intend to deposit a further $2,000 to lending loop next week and will invest it gradually through the year as I have this year.

I’m very excited about it!

It’s been a little while since my last credit card application, a month or two i’d say, so high time to give it a try on another one! Here’s a screenshot of what I was eyeing up earlier today;

 

Please forgive the amount of notifications on my phones screenshot, I’m bad for ignoring them! You can read about this card further on the forum thread on RedFlagDeals right here. With the fee waived for the first year and 50,000 td points this is a decent deal for me. The 50,000 points will be worth about $250 in travel credit on the Expedia for TD, I’m not super interested in any of the other “perks”, like insurance as I already carry other cards that have the needed medical and travel insurances for when I trawl the globe. 🙂 This card has an income requirement of $60,000 or household $100,000, with my extra job this year I was able to jump through that hoop so I applied!

 

It’s always a little bit of a surprise doing these applications, and a happy party when it’s succesful! Can’t wait to snag these points and use them! 😀  I’ve only been declined one card in the past four years (the Chase Marriott Visa that no longer exists, sadly, it was great value and very churnable) Do I worry about these cards affecting my credit? Nope, because they don’t really

Why do I do this? To afford travel, travel will never be totally free as there are always costs involved but travel hacking has allowed me to see and do things I wouldn’t be able to afford otherwise.

Does it hurt my credit? MMMnope!

I keep tabs on my creditscore using creditkarma.ca; my score updates every Monday, I request my free Equifax report once a year and am generally watchful of whats happening on my credit.

I also have a fraud warning on my profile to verify identification prior to extending credit as I previously had a compromised creditcard.

Does it hurt my ability for future big things like buying a house? Not really!

As I am not currently in the market for any car or home related loans I have no problem continuing this game. With any new application my score may drop a few points, usually nothing big and sometimes there is no change at all. This application had zero effect on my score. Were this to change and were I to need to start shopping for a mortgage I would take the appropriate actions, shut a few things down and slow down my applications but for now… happy travel hacking!

Have you ever tried travel hacking?

This has been a long time coming, 100k! It’s kind of a big thing when you’re a youtuber and hit 100k subscribers, you get a plaque and everything. Do they do anything like that for Instagram? That should be a thing.  This is a different 100k though, I was off on a tangent already… I hit a networth of $100,000 last week after I deposited my paycheque from my term job!

My networth is the sum of everything I own and owe, I don’t literally have $100,000 sitting in a bank account somewhere, although that would be nice and that is a goal. Spread over all my accounts however $100k is what I’m worth today.

I’m still using YNAB to track my networth, expenses and budget and I’m still using an older discontinued version; YNAB 4, because I very much dislike subscription software. I guess NetworthIQ will never be brought back to life? Remember that site? I remember painstakingly updating that little chart every time I was able to go up a few dollars, back in 2006. I had a negative networth and  I had my computer sitting on one of those big plastic tubs and would sit on the carpeted floor in the second bedroom of my condo out in Edmonton. That feels like  a lifetime ago.

This little milestone though, 100k$! I would tell you that achieving this from being to my eyeballs in debt back in 2009  feels really amazing and blahblahblah but that would be a lie… it felt like.. mostly nothing, it felt like… I’m on auto-pilot.  It feels nothing like the elation I felt when I paid off my student loan. I thought it should feel like this amazing thing that was happening but really it felt like a slight bump in my journey to financial independence, a slight upward tick, and on we chug.  It’s been a goal for a long time! It feels like I need a big NEXT! a big THING! What IS next?! I’m excited to find out.

I have finally achieved some sort of equilibrium, I’ve achieved some balance between saving and some spending, living a satisfied life without excess.

I am incredibly blessed to be here right now.

(The 1 in the title isn’t a typo, I miss you Chris!)