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Investing, Business, and Program Management from an MBA

Review of Prosper and LendingClub from an MBA

I have been using LendingClub and Prosper for years. As one of the early investors utilizing P2P I can give an honest review of theses two sites and what I have learned. As you know, I like to keep it simple. In coming days I will give you the basics to determine if investing with Prosper, LendingClub or others is for you.

With the low interest rates in savings accounts and the turmoil in the markets many of you are wondering if this is your way to invest wisely. Let me save you some time and help you with your investment goals.

Follow More Merchant – P2P Investing with Prosper and Lending Club and learn from someone that has been investing since the beginning.

5 Tips for Getting out of Debt Fast

In years past I always struggled with debt. I coul not get ahead. I thoguht I didn’t make enough money and had to live with credit cards and loans. What I was lacking, was the knowledge. I went to my friend Jake Rinard, and asked him to be my financial counselor. He saved my life.
Jake Rinard has been amazing in helping me get my finances in order. Today I asked him for some quick tips to get out of debt. I paraphrase him here, but here is some of what he mentioned.

1. Bring In More Cash. Do whatever it takes. Sell things on Ebay, Craigslist or neighborhood websites. Dog sit, house site, babysit, do something to bring in cash.

2. Emergency Fund. I started with $1000 and that took so much pressure off my shoulders. Just make it happen, you will be relieved when you do.

3. Nothing Extra. If you have debt, then you can’t afford the extra things like Starbucks, and apps on your phone that cost money. Don’t do it!

4. Roll it Forward | When you pay off one debt, roll that payment into the the the next payment to pay off. Keep rolling it forward to the next item to be paid off. Start with the lowest amounts, and get those paid off quickly.

4. Don’t Invest in Retirement (for now) | This shocks some people, but I will often recommend not investing in your companies retirement plan until you cut all the high interest debt out of your life. The interest you pay on debt will often be much more than you will earn in your 401(k).