Labelled as the sharing economy, this new concept of sharing your belongings has recently taken root. Inspired from the likes of Airbnb, Fat Lama is a peer-to-peer lending-borrowing platform. According to Fat Lama, users are earning up to $12m (£8.9m) per month in rental income. So why not start renting your stuff out? How does it work? In three simple steps: 1. List an item on Fat Lama The most in-demand categories are Film & Photography and Audio Visual Equipment. Professional cameras, lenses and other recording equipment are the most successful, with some lenders recording a £4000 rental income. 2. Set a rental price, location and availability Initially start with a low rental price which will attract a large amount of customers, considering the current competition. Build your brand and customer base, then slowly increase your prices to maximise profitability. Secondly you should arrange the handover at a busy location for safety reasons, such as a tube statio
Actuaries are becoming very popular lately. As life expectancies increase, insurance and pension providers are facing complex problems because their business model is no longer sustainable. Traditionally actuaries have been involved in the insurance and pensions industry, with a strong focus on the pricing and capital reserving of financial products. However over the years actuaries have expanded to other areas such as consultancies and banking. What is an actuary? An actuary is an expert in risk, professionally trained to assess and quantify risks. In life insurance, actuaries have been using various modelling techniques to forecast life expectancies and consequently allowing them to price the products sold to clients. How to become an actuary? To become an actuary, you must complete 15 professional exams set by the Institute and Faculty of Actuaries, and 3 years of work experience in an actuarial role. The best way to start an actuarial career is through an actuarial scienc