Personal Finance Education

 

Prosper.com Roundup - Small Business and the Economic Crisis

Hello and good morning to all our readers. Welcome to another edition of the Prosper Roundup. We have lots in store for you today, including a large section for our small business entrepreneurs and for those looking to create their own start-up during this economic situation. Drop us a line when you’re through to tell [...]

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Prosper Roundup – Bailouts and Business

The collection of links this week comprises a list of reads for small businesses and those looking to start a small business. Several articles discuss investors and start-up money. Browse the other categories to read about lending, banking, and stocks.
Peer-to-Peer Lending:
• Learn how P2P lending’s popularity surges over at Seo(X)Factor.
• Tiny Crunch Newswire writes Washington Mutual Bites [...]

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Weekly Roundup - Bottom-Feeders and the Banking Industry

Welcome to this latest edition of Prosper’s Weekly Roundup. The title for this week’s roundup comes from a Forbes headline. There’s a lot going on in the news! Be sure to check out the Stocks and Banking Industry section for more information.

Peer-to-Peer Lending:
• TNL.net presents fast pace look into the History of Currency. P2P Lending is [...]

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Prosper Weekly Roundup

Prosper roundup gets switched around! Easy to read categories are going to be our new way of organizing the roundup.
Categories may change from week to week, but overall the feel of the roundup will be the same. 
Business Loans:
• SFGate posts an article this last Sunday on how right now it’s a hard time to get new [...]

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The Top Five Pre-Baby Money Matters to Discuss with Your Partner Now

Believe that preparing for your family’s financial future is little more than setting up your new baby’s college savings plan? Think again. Parenting comes with a whole host of new expenses and considerations, each rife with potential conflict. If you are expecting a child, therefore, use this time to talk with your partner about the [...]

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Prosper Roundup

Welcome to another roundup here at Prosper. School is in session for many, hurricane season has started, and summer is nearly over with autumn creeping in to take its place. How are you improving your personal finance?
Investing Intelligently blogs a debunking post to “why index investing may not be for you”. Which opinion do you [...]

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Gustav, Hanna, and Finance - Prosper Roundup

Keep your eye on the horizon looks like another storm or two is brewing. Be prepared and stay safe as hurricanes are blowing. Well they’re not listed at hurricanes right now, they’re still tropical storms, but damage can still be severe. Check weather updates at www.weather.com.
 
It’s August and that means going to school. Brip Blap [...]

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Fee Falling

Within the vast billing network of your various goods and services, fees are affecting everyone these days. Banks, credit cards, mobile phones and even your retirement fund, for example, can siphon funds from you without your oversight. Make it a resolution now to look for the following hidden fees and gain extra money in your [...]

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Are You a Loan Ranger?

If you are a first time loan seeker, whether for home, auto or any other personal need, what do you need to do or know? What do loan institutions look for when assessing potential borrowers? There are many sectors of your personal finances that you need to delve into before you start your loan search [...]

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Prosper Roundup Beijing Olympics Edition

The Olympics are upon us and I for one have been looking forward to this event for some time — the purest form of athletic competition and a political tool. Will the issues around censorship and human rights get the attention they deserve?
Get Fit Slowly (the fitness and health counterpart to the wildly popular Get [...]

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3 Cheap July 4th Activities

The Fourth of July is up there with Halloween as one of my favorite holidays. I love it so much that I have a Thomas Rebek water-color of the Boston Esplanade hanging in my bedroom. The weather is usually perfect, you often get a four day weekend of freedom from work, and the food… doesn’t [...]

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Starting Married Life in Financial Harmony

Spring is a beautiful time of year, one of new life and new beginnings. It is also the start of the wedding season. My wife and I were wed almost two years ago, and I clearly remember how new and exciting those first few months together were. While your first few months together will be [...]

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Affordable Wedding Finance with Personal Lending

Many years ago, it was a given that the bride’s family would take on the responsibility of paying for the wedding costs.  The groom’s family generally paid for the rehearsal dinner and the honeymoon, but other than that, all other costs were usually taken care of by the family of the bride.
These days, though, things [...]

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Buying a Diamond: Should You Finance the Love of Your Life?

Two and a half years ago, I did something that would make many personal finance gurus scream. I took out a home equity line of credit to buy a diamond ring. I put my home on the line so that I could show the woman I love that I wanted to spend forever with her.
Before [...]

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Financial Freedom: How Prosper Can Help You Live the Dream

Achieving financial freedom means having enough investment income so that you don’t have to work for a living. When your investment income exceeds your living expenses (including taxes), you no longer need a job to pay your bills. Of course, you don’t have to quit your job once you achieve financial freedom, but you have [...]

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Celebrate Mother’s Day the Way You Think She’d Want You To

Local cable has been running a television commercial that simply rips my heart out. A young girl around eight goes into a jewelry store with her dad and her bright pink piggy bank. The dad helps her pick out some jewelry for mom and the commercial ends with everyone smiling and happy. Even though it’s [...]SHARETHIS.addEntry({ title: “Celebrate Mother’s Day the Way You Think She’d Want You To”, url: “http://blog.prosper.com/2008/05/09/celebrate-mothers-day-the-way-you-think-shed-want-you-to/” });

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My Bank Wants Me to Buy a $50,000 Car

Seriously. In fact, they were so kind as to send me a pre-approval letter for a $50,000 loan at 3.89%, and a check designed for a car dealership (it is a sight draft to be paid to the dealer and has blanks for vehicle information including make, model, year, VIN, etc.). Check activation only requires [...]SHARETHIS.addEntry({ title: “My Bank Wants Me to Buy a $50,000 Car”, url: “http://blog.prosper.com/2008/05/02/my-bank-wants-me-to-buy-a-50000-car/” });

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25 Ways to Help Your Wallet and the Planet

As we’ve been working to reduce our expenses, I am noticing that many things that we are saving money on are also helping the planet. We are producing less waste and being more purposeful with our spending. Whether you are looking to cut expenses or reduce your impact, here are twenty-five things you can do [...]SHARETHIS.addEntry({ title: “25 Ways to Help Your Wallet and the Planet”, url: “http://blog.prosper.com/2008/04/30/25-ways-to-help-your-wallet-and-the-planet/” });

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Breaking The Spending Addiction

Everyone has a weakness. My weakness is Ruffles potato chips. Seriously. I can eat a family size bag in 2 sittings. But I don’t allow myself to do that. Not only is that unhealthy for my waistline, it is unhealthy for my wallet.
So I avoid Ruffles. I only eat them two or three times a [...]SHARETHIS.addEntry({ title: “Breaking The Spending Addiction”, url: “http://blog.prosper.com/2008/04/28/breaking-the-spending-addiction/” });

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We Feel Like Fools for Saving Out Money

I came across this sad piece while looking through CNN Money recently:
“My wife and I have been saving our money for many years in hopes of buying a retirement home and living off our investments. No matter how much we saved, it seemed that housing prices continued to escalate beyond any reasonable bounds. We feel [...]SHARETHIS.addEntry({ title: “We Feel Like Fools for Saving Out Money”, url: “http://blog.prosper.com/2008/04/24/we-feel-like-fools-for-saving-out-money/” });

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Celebrate Earth Day Everyday

A couple of weekends ago, I a good friend of mine invited me out on his boat. It was beautiful day, around 80 degrees and not a cloud in the sky. We headed on up to McCovey Cove to sit outside the San Francisco Giants stadium and enjoy the day. There’s also the small chance [...]SHARETHIS.addEntry({ title: “Celebrate Earth Day Everyday”, url: “http://blog.prosper.com/2008/04/22/celebrate-earth-day-everyday/” });

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Prosper Roundup — Spring is Nearly Here Addition

The weather is starting to turn… (At least in out neck of the woods.) Spring is nearly here…
Around the p2p lending and personal finance blogosphere…
Rocket Finance is hosting the 8th Carnival of P2P Lending
The Prosper Blog is happy to be included with our post from Doug Fuller (thank you RF): Collections Update #2
WealthBoy [...]SHARETHIS.addEntry({ title: “Prosper Roundup — Spring is Nearly Here Addition”, url: “http://blog.prosper.com/2008/04/18/prosper-roundup-spring-is-nearly-here-addition/” });

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Is Default Risk Better than Credit Scores?

The following is a guest post by a Prosper member: CreditKarma…  You can use the Prosper Performance tool to estimate default risk for Prosper loans.
When I was a marketing and risk analyst with a credit card issuer, the customer’s credit score never really mattered per se. My concern was always with the default risk for [...]SHARETHIS.addEntry({ title: “Is Default Risk Better than Credit Scores?”, url: “http://blog.prosper.com/2008/04/17/is-default-risk-better-than-credit-scores/” });

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5 No-Nonsense Ways To Retire Your Debt Quickly

It’s been reported that the median amount of credit card debt owed by American households is around $1,900, which is not bad at all. But there are 11% of American households that carry at least $8,000 in debt, a pretty heavy load to bear. Check out these statistics on those who struggle with credit card [...]SHARETHIS.addEntry({ title: “5 No-Nonsense Ways To Retire Your Debt Quickly”, url: “http://blog.prosper.com/2008/04/14/5-no-nonsense-ways-to-retire-your-debt-quickly/” });

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Why I Think P2P Lending is a Great Idea

This is a guest post from Prosper Lender David Makes Cents.
I was just reading an article that I found on Stumble Upon that made me mad! Well ok not really mad because I am a pretty mellow person, but lets just say I didn’t agree with it. The name of their post is pretty [...]SHARETHIS.addEntry({ title: “Why I Think P2P Lending is a Great Idea”, url: “http://blog.prosper.com/2008/04/09/why-i-think-p2p-lending-is-a-great-idea/” });

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Saving Money at Baseball Games

Spring is finally here and with that comes blossoming flowers and college kids going crazy in Cancun. For me, Spring means mostly one thing… the start of baseball season. I will watch over 130 Red Sox games this year. While I love watching the game on television, it doesn’t compare to going to a game. [...]SHARETHIS.addEntry({ title: “Saving Money at Baseball Games”, url: “http://blog.prosper.com/2008/04/07/saving-money-at-baseball-games/” });

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Prosper Roundup — Final Four Edition

The weekend for college basketball is upon us.  Personally, I cannot get enough college basketball and this weekend is no exception…  I mean, there are only 3 men’s games and 3 women’s games Saturday through Tuesday.  Is that enough?    When the games are for all the marbles then 6 is enough….
Enjoy the games, but first [...]SHARETHIS.addEntry({ title: “Prosper Roundup — Final Four Edition”, url: “http://blog.prosper.com/2008/04/05/prosper-roundup-final-four-edition/” });

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7 Steps to Identity Protection

This is a guest post by Prosper member poppadollars.
A lot has been written about identity theft the last few years. Many people are concerned, and rightly so, that someone will hijack their good name and credit and abuse it. Typically, someone will discover the problem after some time has elapsed and problems have mounted to [...]SHARETHIS.addEntry({ title: “7 Steps to Identity Protection”, url: “http://blog.prosper.com/2008/04/03/7-steps-to-identity-protection/” });

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Why a Recession Doesn’t Have To Hurt

If you’ve picked up a newspaper or turned on a television or radio, you’ve probably heard about the recession. For a long time there was much debate, but now most analysts agree we are in a recession.
Recessions are generally have negative connotations, but there is some good that comes from it. As Baron [...]SHARETHIS.addEntry({ title: “Why a Recession Doesn’t Have To Hurt”, url: “http://blog.prosper.com/2008/04/02/why-a-recession-doesnt-have-to-hurt/” });

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How Low Can You Go? Playing Spending Limbo.

Growing up, us country kids would often pick up a long stick and then start doing a limbo dance. One of us would start humming a tune and we’d take turns trying to navigate our bodies under the stick. After each successful pass, we would lower the stick and see how low we could go.
We [...]SHARETHIS.addEntry({ title: “How Low Can You Go? Playing Spending Limbo.”, url: “http://blog.prosper.com/2008/03/31/how-low-can-you-go-playing-spending-limbo/” });

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Prosper Roundup — March Madness Edition

March madness is in full swing.  How are your brackets?  Mine you ask?  Let’s just say I had Georgetown winning in one and Duke in another.  Translation: I was out of my office pool VERY early.  Hopefully you are fairing better.
Here are some of our favorite posts from around the blogosphere…
Prosperous Land discusses More On [...]SHARETHIS.addEntry({ title: “Prosper Roundup — March Madness Edition”, url: “http://blog.prosper.com/2008/03/30/prosper-roundup-march-madness-edition/” });

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Reduce Your Debt By Reducing Your Junk Mail

It never fails. When I pick up my mail, I notice how much of it happens to be junk or worse: credit card and debt consolidation offers, lines of credit applications and shopping catalogs that entice me to spend, spend, spend. My mail can definitely be hazardous to my wallet, with so much [...]SHARETHIS.addEntry({ title: “Reduce Your Debt By Reducing Your Junk Mail”, url: “http://blog.prosper.com/2008/03/28/reduce-your-debt-by-reducing-your-junk-mail/” });

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How to Undo Investment Paralysis

Sometimes being too savvy about investing can paralyze your decision making. Back in December I had a feeling that the market was going in a bad direction, and I sold a fairly significant portion of the index funds in my IRA (about 25% of my overall holding). Yay! Right? I missed the horrible downturn, and [...]SHARETHIS.addEntry({ title: “How to Undo Investment Paralysis”, url: “http://blog.prosper.com/2008/03/26/how-to-undo-investment-paralysis/” });

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Prosper Roundup — CBS Evening News Edition

The CBS Evening News featured p2p lending on Friday night: In Credit Crunch, Lending To Each Other. Here is the video:

Cash Money Life (our newest Prosper Blogger) hosted Carnival of Peer to Peer Lending #6…
Our favorite articles were…
Prosper Lending Review with Eleven perspectives on P2P Lending
ProsperousLand observes Simple Receipe For 100% Funded Prosper Loan
Moolanomy defends [...]SHARETHIS.addEntry({ title: “Prosper Roundup — CBS Evening News Edition”, url: “http://blog.prosper.com/2008/03/22/prosper-roundup-cbs-evening-news-edition/” });

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The Rule of 72 on Prosper

Do you know the rule of 72?  If you have an investment earning interest, if you divide 72 by that interest rate, you will know approximately how long it will take for you to double your investment.  For example, if you have an investment earning 6% interest, it will take you approximately 12 years to [...]

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Why You Need a Credit Card

In my opinion, everyone needs a credit card. I know many people have great arguments about why people don’t need credit cards, but I won’t agree with most of them. The key is using your credit card properly, which means only borrowing amounts you can afford to pay off right away. If you follow that [...]

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Why YOU Need Credit

You hear a lot about credit scores and credit history. It seems like you can’t watch TV or listen to the radio without hearing credit scores mentioned. But do you know why your credit score is so important? Believe it or not, your credit score is probably more important than you realize.
Your credit score plays [...]

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Three Chords and the Truth - and Some Operating Funds…

Harlan Howard, one of the most prolific songwriters in Nashville’s history, once said that country music is ‘Three Chords and the Truth’. The same phrase was popularized by U2 who performed it in their version of Bob Dylan’s, All Along the Watchtower. The line goes: “All I got is a red guitar, three chords and [...]

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Three Chords and the Truth - and Some Operating Funds…

Harlan Howard, one of the most prolific songwriters in Nashville’s history, once said that country music is ‘Three Chords and the Truth’. The same phrase was popularized by U2 who performed it in their version of Bob Dylan’s, All Along the Watchtower. The line goes: “All I got is a red guitar, three chords and [...]

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Prosper Roundup — ‘Bringing Together George Bailey and Gordon Gekko’

Here is Chris Larsen’s recent Q&A from a Wall Street Journal Interview (Q&A: ‘Bringing Together George Bailey and Gordon Gekko’)
The Wall Street Journal: How would you describe your business?
Chris Larsen: An eBay for money and credit. Borrowers can make listings and any American with $50 or more are free to bid. It’s combining community banking [...]

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How Debt Can Be Good For You?

Do you hate debt?
Well so do I, but not enough to avoid it completely. But let me qualify — I only have a problem with it if it gets the better of me. Understandably, it’s hard to resist the cards, freebies and rewards that credit card companies dangle in front of us, but this is [...]

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The Power of Barter

Last week, I had one of my good friends from Boston contact me. Let’s call him Jeff. Jeff had heard from his friend that his website as bringing him some significant business. This didn’t surprise me. You see, Jeff is a real estate lawyer. I don’t know how familiar you are with commercial real estate, [...]

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What’s Your Money Personality?

If good personal finance was all about math, there wouldn’t be anything to talk about.  The basics — living within your means, the tenets of good and bad debt, saving for retirement — are pretty instinctive and easy to understand.  Of course, finance is hardly about math at all.  Money is deeply personal, rooted in [...]

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Creating Demand

The other day I had a business lunch. Not a deal-making lunch or a productive work session over disregarded entrees…no, my department took another department’s administrative assistant out for lunch since she had helped us with a few projects. The result of this lunch taught me a lot about creating demand for a product, and [...]

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Making Money and Having Fun Helping People!

The following is a guest post by Prosper Lender Steven Grimes.
I’ve been bidding out money as a lender on Prosper for awhile now, and I find it a great hobby. Some people like skiing, some people like remote control airplanes, I like making money!
I own rental property and it’s a little worrisome at times to [...]

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Grameen Bank Opens Branch in US

This is guest post by Prosper member ChrisFS
Just as credit seems to have tightened for many Americans, The Financial Times reports that microcredit pioneer Grameen Bank has opened their first US office in New York city.
According to FT, Grameen banks lent $50,000 to groups of immigrant women in Queens in the last month. The bank, [...]

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Prosper Roundup — The Week After Edition

Prosper Days was an amazing success.  Good time were had by all.  Meeting new people, engaging Prosper staff, and a genuinely entertaining keynote by Freakonomics author Steven Dubner about incentives, money, food, and sex.
Here are some of the blog posts by community members in attendance:

NetBanker wrote about Social Capital after 1st Day of Prosper Days. 
Prosper [...]

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Living Paycheck-to-Paycheck? Top Five Ways Get Ahead

Has your wallet been so empty that you thought, “There must be something cheaper than Top Ramen. Isn’t there a Middle or Bottom Ramen?” When the technology bubble burst eight years ago, I had that problem. While I felt alone at the time, I now realize that I wasn’t.  
I was talking with Joseph Sangl [...]

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How Much Money Could I Save By Using Prosper?

Back in June of 2006, I became an official my Prosper borrower when my loan for $3,500 was funded by thirteen Prosper lenders. While I loved the concept of people-to-people lending, I also had to make sure that obtaining a loan through Prosper was worth it. Before listing my loan, I made some rough calculations. [...]

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Prosper Roundup — Prosper Days Edition

Prosper Days is Monday and Tuesday of this week.  I am looking forward to it.
Here are some of the best posts from around the personal finance and p2p lending blogosphere.
Freakonomics asks Is Cheating Good for Sports?
RateLadder built a tool to Convert Prosper XML to CSV
Blogging Away Debt tells us of More Reports of Credit Card [...]

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