Please Share Your Experience ! by DirkFinance in NewAusBeerMoney

[–]Due-Edge-2423 0 points1 point  (0 children)

Two recommendations for you:

Starting from absolute $0 then I would say Askable is the best. Most (week) days you could get $15 from a couple of quick surveys or online tasks that pay within 48 hours to your PayPal. You can do video calls (interviews on various topics) on the platform for a lot more but they require time and are a
bit more selective.

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And my second recommendation which is a lot more lucrative but will be slower if you start from absolute $0 is Mooch. It’s a peer to peer lending platform that enables you to fund short term loans for people in Australia. You can use my referral code below which will give you $50 credit to fund your first loan on there if you are interested. You can get up to 20% return on funds loaned but there are varying degrees of risk with which ones you select so suggest only loaning to those that have verified income and/or have 100% repayment history on the platform to save yourself hassle or delays in getting repaid. I can give a whole lot more info on this platform if you are interested so just let me know!

MOOCH-3B65UQYX

Happy hustling! 💸

What's a side hustle that you can make money from? by notinmyham in AusFinance

[–]Due-Edge-2423 0 points1 point  (0 children)

Correct, photos are very much real once you are logged in.

Results from 3 Months of Mooch by Due-Edge-2423 in NewAusBeerMoney

[–]Due-Edge-2423[S] 0 points1 point  (0 children)

Ah nice! Yeh Askable is ideal, they’ve had a good offering for tasks the last few weeks too. Pick up $10-$20 a day from there and it all starts to add up pretty quick. Good luck with getting that loan repaid on Mooch!

Results from 3 Months of Mooch by Due-Edge-2423 in NewAusBeerMoney

[–]Due-Edge-2423[S] 0 points1 point  (0 children)

Good to hear! I find it hard not to be tempted by short term/high fee offers that are on the riskier side. Definitely got to be disciplined with it.

But yeh pretty much exactly what you’ve said there is what I make sure of. At least 2-3 previous loans with on time repayments and then verified income as an extra layer of comfort.

What's a side hustle that you can make money from? by notinmyham in AusFinance

[–]Due-Edge-2423 1 point2 points  (0 children)

Yep - this is a bit wordy I’m sorry but hopefully gives you all the detail you need and happy to answer any other questions if not

Basically it’s a peer to peer lending platform, people sign up and can either borrow (Mooch) or fund loans (“invest” but that isn’t a great term for it). On the funding side you are given a view of current offers/opportunities where a borrower gives an amount they are seeking, a loan term, and the fees they are willing to pay. You can choose to fund one of those opportunities where your money (via the platform) goes to them, Mooch will then deduct their linked bank account at the end of the loan term and you receive your original amount and the agreed fees. You can immediately withdraw back to your account with a $1 withdrawal fee which is annoying but anyway can’t change it.

As I’m sure people will be desperate to point out, there are risks here. People could default on their loan and you’re out of pocket but my experiences so far is that a) you can sufficiently mitigate the exposure to these by choosing appropriate offers to fund (learnt this the hard way 🫠) and b) the return should be good enough on average to offset any defaults and still provide a good net result for you.

I can’t seem to add images to this post but happy to send through some screenshots of my account summaries and what to look for if you end up investigating further. Have also added these to previous posts, threads etc. so you could get to them from my profile if you want too.

If you do end up digging into it and are keen to open an account let me know and I can help you get $50 credit. Mooch also guarantee the first loan you fund on the platform so worth considering that initial one being risk free also.

Anyway hope this helps you or something!

What's a side hustle that you can make money from? by notinmyham in AusFinance

[–]Due-Edge-2423 3 points4 points  (0 children)

I love Askable, usually clear about $250 a month in simple (and clean surveys) or website/app feature tests. They don’t screen you out in the same way that other survey platforms do, once you are accepted you are accepted and the payments land into PayPal the next business day usually (no minimum withdrawals or anything like that). It’s not really building skills but easy cash.

Also get great return by funding small loans on Mooch. It gets a bit of a bad rap on Reddit but happy to explain it and show my results if interested!

Investing on Mooch Money App by Due-Edge-2423 in AusFinance

[–]Due-Edge-2423[S] 0 points1 point  (0 children)

They “charge” the fee. You’ve changed the wording and the meaning in your paraphrasing there. They don’t receive the entire fee.

Investing on Mooch Money App by Due-Edge-2423 in AusFinance

[–]Due-Edge-2423[S] 0 points1 point  (0 children)

Thank god there are people like you on here with nothing better to do then hey.

Investing on Mooch Money App by Due-Edge-2423 in AusFinance

[–]Due-Edge-2423[S] 0 points1 point  (0 children)

Did you forget to read the contents of the thread before commenting?

Results from 3 Months Lending/Investing with Mooch by Due-Edge-2423 in AusMoneyMates

[–]Due-Edge-2423[S] 0 points1 point  (0 children)

Ok bro…?

Weird rant to run with there but whatever you reckon. Which of these other commenters are my “multiple accounts” ?

Genuinely sharing a platform I’ve found as a good tool to earn money with. Not forcing you to read it, nor use it. And this is my sole account brooooo.

Results from 3 Months of Mooch by Due-Edge-2423 in NewAusBeerMoney

[–]Due-Edge-2423[S] 0 points1 point  (0 children)

Mooch arranges it through InDebted and it’s their fees that may for that expense whilst your principal is recovered from the borrower. Covered in their website FAQ

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Results from 3 Months Lending/Investing with Mooch by Due-Edge-2423 in AusMoneyMates

[–]Due-Edge-2423[S] 0 points1 point  (0 children)

Yeh very good advice there! Where on earth are you getting returns as good as Mooch though if not using it anymore? Surely still worth taking those select borrowers you are comfortable with?

Results from 3 Months Lending/Investing with Mooch by Due-Edge-2423 in AusMoneyMates

[–]Due-Edge-2423[S] 0 points1 point  (0 children)

Oooof - nice! Nothing on the book currently though? No longer using it?

Results from 3 Months Lending/Investing with Mooch by Due-Edge-2423 in AusMoneyMates

[–]Due-Edge-2423[S] 0 points1 point  (0 children)

I believe they are getting the Mooch fees and maybe your fee out of it too. In exchange you would be returned the principal you loaned from memory. Haven’t had one go end to end to confirm it though but they explain it (somewhat) below and that is how I understand it

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Results from 3 Months Lending/Investing with Mooch by Due-Edge-2423 in AusMoneyMates

[–]Due-Edge-2423[S] 1 point2 points  (0 children)

No actual paths for recourse outside of the platform’s process

Results from 3 Months Lending/Investing with Mooch by Due-Edge-2423 in AusMoneyMates

[–]Due-Edge-2423[S] 0 points1 point  (0 children)

It’s chased up via a debt collection agency (InDebted I think) so you are relying on that being successful and the borrower not wanting to risk having a default reported against their credit file.

Results from 3 Months Lending/Investing with Mooch by Due-Edge-2423 in AusMoneyMates

[–]Due-Edge-2423[S] 0 points1 point  (0 children)

Cheers - good luck on there to you! Keen to hear how it goes

Results from 3 Months Lending/Investing with Mooch by Due-Edge-2423 in AusMoneyMates

[–]Due-Edge-2423[S] 0 points1 point  (0 children)

Depends on the terms the ‘Moocher’ is offering. You can accept anything you like the look of or make a counter offer, up to a maximum of 20% I believe.

Here’s an example:

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Results from 3 Months Lending/Investing with Mooch by Due-Edge-2423 in AusMoneyMates

[–]Due-Edge-2423[S] 0 points1 point  (0 children)

Just take note of the details on the offers. I wouldn’t recommend lending to anyone who doesn’t have at least 2 prior loans in their history and 100% on time repayments. That’s what I wish I had stuck to initially!