Inflation has moved from the halls of banks and into the backyards of everyday Australians. It's brought with it higher interest rates and a rise in the cost of living. Unfortunately, it's unlikely to get better quickly. To make matters worse, salaries aren't keeping up. While it's true that wages are growing at their fastest rate in nearly a decade, it's not enough to keep pace with the consumer price index (CPI). But what can you do about it?
There's no shortage of advice that will tell you to pick up a side hustle, but you want to be able to enjoy your well-earned time off. Instead, look for a way to make your money work for you through passive income strategies.
An example is peer-to-peer lending (P2P). It is regulated by the Australian Securities and Investments Commission (ASIC) to ensure the protection of investors and borrowers. The leading P2P platforms include SocietyOne, and Plenti.
In its simplest terms,
