Making money from stoozing

kimwp wrote: »

How do I find out how much I could borrow? It doesn't seem to say anywhere?

In vast majority of cases you can not.

kimwp wrote: »

Also concerned about your comment adindas regarding the bank asking for the money to be returned with a short notice - could they ask for it back sooner than the 0% period? (Just thinking re 2 year fixed period savings accounts)

As mentioned by other posters the possibility is distance. Generally It will mean such as you break their T&C, you miss the minimum payment, You go over your cash limit and or changing of personal circumstances to worse.

But you are talking about stoozing. Stoozing is not a speculation, it is risk free. Considering the bank is cutting their interest rate for saving than it might be no longer attractive for some people.

If you allow some degrees of speculation and you have some plan to mitigate the risk than as suggested by other people you might want to put the stoozed money somewhere else such as as fixed rate saving such as suggested by one person on this thread. I personally has already experienced that the combination of RSA + Easy access saver beat the Fixed rate saving. Also the good thing is that it is less risky. This thing will need time investment opening multiple accounts. It is up to you to decide the trade off. Nowadays RSA + Easy access saver might not be attractive anymore anymore after many banks cut RSA interest rate.

I do not think many people here on MSEs will suggest you to invest on the stock market for the duration of less than three years. Let alone the share could go up and down and when the time has come to pay back the value of your share plunging then by that time you will realise you have fallen into the debt trap if you have not prepared a back up plan to mitigate this.

In my opinion stoozing is still very much worthwhile.

Once you have your pot, I'd advocate putting the money to work. You can lend it to a bank for next to nothing. They will make money off it and pay you a tiny fraction of the remaining profits after they've covered their costs.

Find your own arbitrages. There are perfectly legitimate ways to make £100+ on it in a day - I'm sure the banks do something similar then give you 0.2% AER!

adindas wrote: »

I have never heard someone in this forum ever claim to be able to get £100+ a day with stoozing. Mind to explain how did you that ??

I was earning that with matched betting. Those sort of profits do not last long though and you need to invest time to learn how to do it properly.

I will soon have a stooze pot of £50k to play with. This will be used for my offset mortgage, various bank and savings accounts and also allow me to put the maximum monthly amount into a share save scheme. This is all risk free and makes it worthwhile to myself.

I'm all ears though on other possibilities to make the most of my stooze pot.

Sad_Dad wrote: »

I was earning that with matched betting. Those sort of profits do not last long though and you need to invest time to learn how to do it properly.

Is it actually possible to sustain that sort of income from Matched Betting long-term? I did it for a while, going round all the bookies cashing out their welcome boni and made a significant profit in only a few months, but then the repeat offers were pathetic and just not worth bothering with, so I stopped.