30 EUR a month

Posted on Mo 18 Januar 2021 in finance

Setting goals is an important thing to do when thinking about finances - or life in general. But lets talk about finances.

A little goal for me is to earn 30 EUR a month from at least 5 different income sources (dividends, p2p, maybe affilates and renting real estate).

Why?

Well a month has aproxiamtely 30 days - so earning 30 EUR a month will make 1 EUR a day. A nice an easy to grasp number. But isn't this just an arbitray number that serves no real practical purpose. Yes and no. Well earning 30 EUR a month is actually not much money. You can't do much with it.

So what is the purpose of such a goal?

It has several reasons to have a goal and a goal of this sort (it is some-what a S.M.A.R.T. goal).

  • Having a goal gives an aim to shoot at
    • where should I invest my resources in
    • thinking about ways to achieve it
    • is this even feasable
    • breaking it down in individual steps
    • review what worked and what not
    • what where the limiting factors
  • having a defined goal (that you acutally can reach)
    • gives a frame for how to achieve it
  • having something measureable (1 month, 30 EUR, 5 sources)
    • well I could have said: I want to make some income somehow.

My concrete goal

So my thoughts on that said goal:

"30 EUR per month from 5 income sources"

What are the sources?

  • Dividends
  • Mintos
  • Bondora Go&Grow
  • Bergfürst
  • EstateGuru

So why that 5 sources - well this is part diversifaction and part fear I think - at least for the p2p platforms. Most of them have a perfect track record, even in these difficult times. Mintos and Bondora Go&Grow are there to invest in lets call them "liquid" credits (Consumer and Buisness Credits) and Bergfürst and EstateGuru are there to invest in real estate credits.

What are other sources and why I'm not persueing them?

Other sources I currently do not use or try to use:

  • real estate (being a landlord)
  • bonds
  • other p2p platforms
  • staking crypto currencies

That could be answered with: What are the criterias for the source:

  • income based
  • somewaht predictable
  • not much work
  • I do at least feel like I unterstand the risk

goals