General Discussion: I have 15k(ish) to invest - please advise me!


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TROYBOY
TROYBOY avatar

987 posts since 28/2/12

3 Jan 2021 19:48
Im not sure anyone said its like a payday loan.
I just see it as giving people who cant afford stuff issues further down the line when it comes to paying up
darko
darko avatar

1074 posts since 4/10/12

3 Jan 2021 20:10
EssexBoyII wrote: Swede mad about Klarna - BOOMER

Why are people worried about something that allows people to spread cost at 0% when the whole basis of credit cards with 0% interest introductory offers are basically the same concept with an almighty APR sting in the tail which is considerably worse?

People even comparing Klarna to payday loans, how can people be so dense?

spend 5 minutes googling ‘klarna debt’ or ‘klarna risks’ and read a few of the 50 news articles that show up
EssexBoyII
EssexBoyII avatar

7258 posts since 5/6/07

3 Jan 2021 20:19
I’ve used Klarna numerous times and never had an issue. Was late paying one of the payments once and couldn’t use for ages which shows that there are algorithms in play to prevent people from just launching themselves in to debt. I am not going to read sob stories of twats who thought it was free money or something
EssexBoyII
EssexBoyII avatar

7258 posts since 5/6/07

3 Jan 2021 20:22
TROYBOY wrote: Im not sure anyone said its like a payday loan.
I just see it as giving people who cant afford stuff issues further down the line when it comes to paying up

Stella creasy bbc4 radio other day saying exactly that
EssexBoyII
EssexBoyII avatar

7258 posts since 5/6/07

3 Jan 2021 20:25
Regarding how to learn about investing. I would start with a practice T212 account and listen to some podcasts/read the financial news and play with it and see if you can make it profitable. Read up on ETF’s and how they work though as they should definitely be a substantial part of a portfolio
TROYBOY
TROYBOY avatar

987 posts since 28/2/12

3 Jan 2021 20:27
EssexBoyII wrote:
TROYBOY wrote: Im not sure anyone said its like a payday loan.
I just see it as giving people who cant afford stuff issues further down the line when it comes to paying up

Stella creasy bbc4 radio other day saying exactly that

sorry, meant on here.
swede
swede avatar

10145 posts since 21/3/09

posted 3 Jan 2021 21:06, edited 3 Jan 2021 21:06
EssexBoyII wrote: Swede mad about Klarna - BOOMER

Why are people worried about something that allows people to spread cost at 0% when the whole basis of credit cards with 0% interest introductory offers are basically the same concept with an almighty APR sting in the tail which is considerably worse?

People even comparing Klarna to payday loans, how can people be so dense?

christ Laughing out loud there is literally no hope for you whatsoever is there

figurine
figurine avatar

6062 posts since 14/5/07

3 Jan 2021 21:15
EssexBoyII wrote: I’ve used Klarna numerous times and never had an issue.
Well that's it all sorted then, EssexBoy has used Klarna and didn't have issues so noone should have issues. Glad the issue is completely resolved.
swede
swede avatar

10145 posts since 21/3/09

3 Jan 2021 21:22
Laughing out loud
RickRude
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4007 posts since 13/1/12

3 Jan 2021 21:36
Uses Klaarna and misses payments - yet giving trading advice - U WOT M8
deuce
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14089 posts since 21/1/08

3 Jan 2021 21:40
fucking hell, EB's had a right 'mare here hasn't he
sydneyking
sydneyking avatar

5113 posts since 26/9/09

3 Jan 2021 21:48
Laughing out loud
MrW
MrW avatar

3081 posts since 1/8/11

3 Jan 2021 21:50
Laughing out loud
illwill
illwill avatar

4150 posts since 17/5/04

posted 3 Jan 2021 22:10, edited 3 Jan 2021 22:10
EBonomics 101 Laughing out loud
EssexBoyII
EssexBoyII avatar

7258 posts since 5/6/07

3 Jan 2021 22:22
I missed a payment through own carelessness and it was still fine. Not even a late payment fee of some sort. But let’s all believe the hysteria by all means. If someone wants to link me to an article then by all means I will give it a read.

Swede, I hope you paid for that Seiko with Klarna and if you did, I would fake your own death and hope they never find you
Razorlight123
Razorlight123 avatar

5043 posts since 13/1/10

posted 3 Jan 2021 22:44, edited 3 Jan 2021 22:44
EB is right though, it doesn't effect credit score. However the industry is looking to ensure Klarna has credit implications.

https://www.bbc.co.uk/news/business-55278927

As stated it's basically an interest-free (0%) form of credit without the need for a credit check.

As people have said it's incredibly crazy, particularly as there's no declared limit to purchase.

At present the worst that can happen is that you can be charged a late fee - however extremely rare, after the first 30 days, you can extend by a further 7 or so days; I'm guessing if you miss this you will incur charges.

PayPal are also moving into this market.

In terms of savings etc another good concept to look up is FIRE (Financial Independence Retiring Early) it's mainly US orientated but there is a UK page on Reddit:

https://www.reddit.com/r/FIREUK/
swede
swede avatar

10145 posts since 21/3/09

3 Jan 2021 23:06
fuk.co.uk is basically the antithesis of FIRE
Razorlight123
Razorlight123 avatar

5043 posts since 13/1/10

3 Jan 2021 23:36
Haha, yeah, some of the people there are extremely frugal, it's insane.
Blofeld
Blofeld avatar

274 posts since 30/12/15

4 Jan 2021 00:03
I realise this is hugely subjective based on your level of financial knowledge, but interested to hear personal opinions:

For those who invest a good part of your portfolio actively (e.g. ETF investing or stock picking on Trading 212) as opposed to entirely passively (e.g. investing in a Vanguard mutual fund) - do you generally find that the time and risk is worth it?
Mosoona
Mosoona avatar

409 posts since 25/5/15

4 Jan 2021 00:46
It’s definitely good to do, just to learn more about how the market works but also your own bad habits. If you’ve got it to spare, even sticking £100 across a few stocks will be good, teaches you about research/due diligence, what is/isn’t a good entry point, exit point etc. It’s even valuable for seeing some of your picks be in the red for a few weeks/months and having the patience to see them go green again (hopefully, but usually the case barring mad picks).

Key is to start off with an amount that you can afford to lose and won’t be too emotionally invested in.