He Xin was so absorbed in her work that she thought about how to sell her house every day. When she realized this, p2p had become popular and many people around her were investing in it.
During afternoon tea time, colleagues gathered together for a quiet discussion.
A man in a suit and glasses asked, "Which company did you buy from? What's the interest rate?"
The girl with ponytail next to her answered, "I invested in xx loan. It's a state-owned enterprise. It's been on TV before. The annualized return is 10%. The interest rate is a bit low, but it's safe. What about you?"
The man in the suit adjusted his glasses. "XX Venture Capital. This is a well-known P2P company in China. It has been established for a long time and has abundant funds. The chance of something going wrong is extremely low."
A girl with wavy chestnut hair next to her opened her mouth slightly, as if listening to a foreign language, "What are you talking about?"
As soon as she raised the question, someone immediately gave her some scientific advice.
The girl with wavy chestnut hair was moved. "The annualized interest rate is 10%-15%. Is it true? Will I lose money?"
The girl with the ponytail replied, "When I first came into contact with it, I didn't dare to buy too much. I only bought a financial product worth 10,000 yuan with a maturity of three months."
"As a result, I bought it twice and the money arrived on time."
"In my opinion, this product is quite reliable. So I collected 50,000 yuan and bought a one-year subscription."
The man in the suit said, "Although it is a new thing in China and many people are new to it, it has actually been developed for many years abroad and I haven't heard of any problems."
"It's just like buying bank financial products. You buy and deduct money on the same day, and on the agreed date, you will get the principal and interest back."
"Do you know xxbao? It's very popular recently. It's actually an ordinary money fund. It has long been used in foreign countries to replace fixed deposits. There are not many people in China who understand finance, so they think it's something rare."
"I think p2p is similar to money market funds, both are very good products. It's just that Chinese people were not familiar with it at first and were not very willing to try it. As time goes by, more and more people will try and use it, and their perceptions will gradually change."
At this point, he smiled confidently, "People like us who understand financial management and have this awareness can get in touch with it as early as possible. Who would be happy to go to the bank when they can buy financial products with an annualized interest rate of 10%-15%?"
The girl with the ponytail nodded in agreement. "I think so too. Good things stand the test of time. Before long, everyone will find that p2p is a good product."
The girl with wavy chestnut hair was impatient, "How do I buy it? Teach me!"
For Chinese people who only know how to deposit money in banks, financial products that are safe and reliable with an annualized interest rate of 10%-15% are extremely attractive.
“It’s very simple, just download the app first…” the girl with ponytail instructed enthusiastically.
He Xin stood not far away and watched, thinking that this group of people would be finished sooner or later. After all, countless examples have proved that none of the products her mother invested in could survive for too long.
The ability of poisonous milk is max.
**
He Xin thought that she could avoid the topic of p2p by not participating in the discussion with her colleagues. As it turned out, she was too naive.
On weekends, relatives have dinner together.
While eating, somehow we ended up talking about p2p.
Auntie said excitedly, "There is a financial product called p2p recently, it's very popular, have you heard about it?"
Zhang Ping ate the rice dryly, looking somewhat pitiful - so what if she had heard of it, her daughter wouldn't let her buy it.
He Xin ate calmly, "I heard about it. But my family just took out a loan to buy a house, and I don't have any savings, so I can't buy it."
Being poor is not necessarily a bad thing. For example, now, regardless of whether P2P is a scam or not, she has no money to invest.
"What a pity." Auntie sighed, "I have bought it and found it to be a reliable product, so I want to recommend it to you."
"It's okay." He Xin was very calm. "I just can't make money or get rich, but I can still live my life as usual."
Zhang Ping, "..."
She strongly suspected that her daughter was picked up from the trash can.
This conservative and cautious investment style is even more extreme than that of He Xin's grandmother.
"It's okay, go ahead." Zhang Ping turned around and said enthusiastically, "I don't have any money now, but if I save it up, I'll have it in a few years."
“Learn first, and you can invest immediately when you have money.”
Auntie: "Actually, I don't really understand these things, but An An knows that she is currently working in a p2p company."
An An is my aunt's daughter and He Xin's cousin.
An An was looking at his phone and was visibly stunned when his name was suddenly called.
Auntie urged, "Stop playing! Introduce p2p financial management to them."
An An put the phone in his pocket, cleared his throat, and spoke slowly, "P2P is the abbreviation of peer to peer, which means person to person. Financial management companies collect funds from the public and then lend them to people who need funds."
He Xin couldn't listen any more and couldn't help interrupting, "Can I ask a few questions?"
An An agreed, "Okay."
He Xin: "What is the annualized interest rate of the financial product?"
An An: "It depends on the term. The longer the term, the higher the interest rate. For example, for our company, the annualized interest rate for a three-month term is 8%. For a one-year term, the annualized interest rate is 15%."
He Xin: "Lend money to people who need funds? The bank loan interest rate is 5%-6%. Why don't those people who need money go to the bank, but go to the financial management company to borrow high-interest loans?"
An An laughed: "You don't understand. It's very troublesome to borrow money from a bank. There are a lot of documents to review, and the approval is slow. It's different when you borrow from a financial management company. The review speed is super fast, and the funds can be disbursed in one to two days."
He Xin: "According to normal people's thinking, even if borrowing money is troublesome, they will choose low interest, unless they can't borrow money through normal channels."
He Xin: "Banks are slow to approve loans because they have strict audits and control risks. Financial management companies review loans very quickly and make loans in one or two days. How can we ensure that the money is lent out and can be collected back?"
An An's expression froze, and she could barely keep her smile. After a slight pause, she said, "The company has prepared a special risk reserve. Even if a few customers default, it will not affect the normal operation of the company."
He Xin persisted, "What if the majority of people default?"
"The annualized return on bank wealth management is 4%, and the annualized return on government bonds is 5%. These are basically risk-free returns."
"If the yield is a little higher, corporate bonds have an investment return of 8%-10%. This means lending money to companies to allow them to build. Once the project does not meet expectations, the money may not be recovered."
"The annualized interest rate for private lending is 10%-24%. Although the returns are high, it is very likely that the money will not be recovered once it is lent out."
"No matter what investment you make, risk and return are directly proportional. The yield of your company's financial products is only slightly lower than the money released by the private sector. How dare you say that your products are as safe as bank financial products?"
An An blushed and wanted to explain, but He Xin beat her to the punch and said, "Ah, I forgot, 8% and 15% are just the interest you pay to investors."
"The platform needs to charge a handling fee to operate, because it has to pay employees' salaries, help pay for five insurances and one housing fund, and the platform itself has to make a profit."
"Based on this calculation, how much interest do borrowers need to pay to borrow money? It should be about the same as the amount of money released by the private sector, right?"
"In other words, your company is an intermediary platform, acting as a bridge to match funds and facilitate transactions."
"High risk, high return, this is not suitable for elderly people to invest at all, and it is not as safe as you say."
An An, "..."
Aunt,"……"
Zhang Ping, "..."
After the meal, Zhang Ping offered to take her daughter away.
The aunt saw the person out the door without even saying a word to ask him to stay.
Zhang Ping suspected that the other party would not want to invite her and her daughter again in the next year.
Before leaving, He Xin also specifically reminded, "Auntie, I suggest you don't buy financial products from p2p companies. It's not safe."
Then he said to his cousin An An, "It doesn't sound like a reliable company. Quit your job and find another one."
"Shut up!" Zhang Ping couldn't bear it anymore and quickly pulled her daughter away.
Before leaving, I heard my aunt sighing behind me, "I was kind-hearted and wanted to introduce a way to make money to my relatives, but who knew... Alas——"
**
"We are all relatives, why do you say those things?" Zhang Ping was dissatisfied.
He Xin: "Just because they are relatives, I can't bear to see them being fooled."
Zhang Ping was annoyed, "Everyone says p2p is reliable, but you are the only one who thinks there is a problem!"
He Xin: "Think about how many people have been deceived by collectibles? They all believed in it! But is it useful to believe in it? They will be deceived if they deserve to be deceived!"
Zhang Ping held it in for a long time, then said, "I can't argue with you. Don't make others dislike you in front of others in the future. They don't like to hear it."
He Xin didn't care. "We are relatives, so I risked a falling out to remind them. Otherwise, who would care about their lives?"
When something happens in the future, you will know who is the good guy and who is the bad guy.
But by then it might be too late.
Zhang Ping was so angry that she couldn't speak for a long time.
**
What is a trend?
It means that people around you do the same thing without any prior agreement.
Unconsciously, purchasing p2p financial products has become a trend.
Almost everyone I know has started discussing Internet finance and p2p.
Some people, such as Aunt Wei, claim that p2p is dangerous and that they will be defrauded of money. After enduring for more than half a year, she saw that many people's principal and interest were credited to their accounts on time and that the inflow and outflow of funds were normal. Finally, she could not resist the temptation of high interest rates and began to test the waters with small amounts of money.
Gradually, Zhang Ping no longer liked going to the teahouse. She stayed at home watching TV all day and rarely went out.
At first, He Xin didn't take it seriously. After a while, she saw that her mother was still depressed, so she asked casually, "I see that you are not in a good mood. What's wrong?"
This has really stirred up a hornet's nest.
Zhang Ping said in a sad tone, "They all invested money, and they all made a lot of money..."
"Today one person says he makes 100 yuan a day, which is a small fortune. Tomorrow another person says he earns the same as a year's income from bank financial management in just half a year."
"The teahouse is so noisy that it gives me a headache. I don't want to go there."
Listen to what is said and heard.
He Xin reacted almost instantly. How could her mother dislike the noise in the teahouse? She was clearly envious of others for making money, and she felt bad for not having it.
He Xin didn't take it seriously. "Whether they live well or not is none of our business. Don't always try to join in the fun."
"I could have made money!" Zhang Ping was heartbroken. "I was one of the first people to know the news, but I was not familiar with it and did not dare to take action. I missed the investment opportunity!"
He Xin: "You said the same thing when the dragon and phoenix gold jewelry was returned. You can make money. This time is different. You don't look like a liar. Aren't you tired of being fooled, deceived, and trapped by saying the same thing every time?"
"Let's put things aside and stop talking about the past." Zhang Ping said in a muffled voice, "If you keep thinking like this, it's easy to miss the real opportunity."
"That's better than going bankrupt." He Xin said confidently, "If I hadn't kept a close eye on it, our family would have gone bankrupt eight hundred times already!"
Zhang Ping was speechless and could only sulk alone.
The author has something to say:
**
It is true that money funds can replace bank savings.
It is a lie to say that p2p is as safe as fixed deposits/money market funds.
Without financial knowledge, it is easy to believe it. When P2P companies sell products, some people deliberately lie to cheat people to increase sales. Of course, there are also salesmen who really believe that...
**
Part of the information in this chapter comes from Baidu
Yun Luo: This year's host is too capable. Unfortunately, I am unemployed≧﹏≦
**
Selected comments:
#He Xin's skilled money-refunding skills contain untold bitterness#
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