Apr
8
Lending Money on Prosper: What Are the Risks?
April 8, 2008 | 2 Comments
This is the 3rd post in a series of articles about Prosper.com. Prosper is a person to person lending site with an auction format similar to EBay. If you’re a lender you may want to consider the risks of lending money on Prosper before you start loaning money.
In my previous article on Prosper, I discussed how Prosper.com works. Refer to that article for details about …
Mar
21
Harvard Says Money Can Buy Happiness
March 21, 2008 | 1 Comment
Apparently, money can buy you happiness. There’s a catch of course, you have to spend the money on someone else.
According to researchers at Harvard Business School and the University of British Columbia, spending as little as $5 a day on someone else could boost your happiness.
Although much research has examined the effect of income on happiness, we suggest that how people spend their money …
Mar
11
Top Five College 529 Savings Plans
March 11, 2008 | 2 Comments
In a follow up to my previous posts about saving for college with a 529 college savings plan, I’ve recently come across Kiplinger’s ranking of the top five college 529 savings plans.
I personally subscribe to Kiplinger’s as well as a few other personal finance magazines. While these magazines may not make you a millionaire overnight, they at least provide some education reading while …
Jan
11
Stages of Life
January 11, 2008 | 1 Comment
On our path to wealth it’s handy to know where we’re at. Much of our financial outlook is based on how old we are and our “stage of life.” What do we mean by stage of life? Humans have a pretty clear path through life. We pass through stages from being taken care of to learning to caring for others then full circle to being taken care of again. I believe the most important thing we can do is first and …
Jun
9
Time Is Money: Finding Time to Workout
June 9, 2008 | Leave a Comment
I'm constantly short on time. Who isn't, right? You need to work out but how do you find the time? Here's a couple ways I've found that work pretty well.
Everyone gets 24 hours in a day, no more no less. Some people take full advantage of the time they have and some don't. I've been guilty of wasting time. However, as I get older I find my time management skills have improved. …
Jul
25
The Smartest Advice I Ever Got
July 25, 2008 | 12 Comments
What was the smartest financial advice you've ever received? Is there any one thing or one person that stands out in your mind?
Yahoo Finance put together a list of noteworthy people talking about the best advice they've received. There are a few good quotes in there.
A few of my favorites:
Elizabeth Gilbert :
My father is the most frugal human being I've ever met. His most adamant instruction was …
Comment by Elan Vital: … Valdez: Based on his other activities, it appears that …
Jun
24
Flood Insurance For Renters
June 24, 2008 | Leave a Comment
Renters need flood insurance. You might think flood insurance is only for home owners. However, renters are just as vulnerable to flood damage. Here are the reasons renters need flood insurance too.
How much would it cost you to replace everything you own right now? Try to estimate the dollar amount in your head or on a piece of paper. Now compare that number to the amount of money you have in your …
Jun
3
Cheap Lunches - Taco Tuesday
June 3, 2008 | Leave a Comment
The price of food is starting to creep up. Even the price of fast food (usually a cheap meal) has gone up. However, you can eat cheap if you remember what day it is.
While I usually try to avoid fast food because of the health (and taste) concerns, every once in a while, I enjoy the guilty pleasure of a quick meal. I was on my way back from gym and it was lunch time. I was in a hurry so I ran …
Apr
18
Prosper Increases Maximum Interest Rates
April 18, 2008 | Leave a Comment
I’m a Prosper.com lender. One of the problems I’ve noticed is the low maximum interest rates for borrowers in some states. Prosper has now fixed this problem for most states. Previously max rates had been as low as 6%. Now most states in the US have a maximum interest rate of 36%.
Some states have usury laws. These laws cap the interest rate a lender can charge a borrower. …
Apr
7
What is Prosper and How Does it Work?
April 7, 2008 | 4 Comments
What is Prosper and how does it work? Prosper.com is a website for personal loans that allows borrowers and lenders to find each other in an Ebay style auction. I've been a member of Prosper for over a year. In this article I'll tell you how Prosper works.
In a previous article about person to person (p2p) lending, I wrote about how person to person lending works in general. I also …