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Prosper Progress Report - May 2008
Prosper, a popular peer to peer lending program where prospective borrowers can request a loan up to $25,000 at an interest rate to be determine through a bid-down system by individual lenders.
The results can vary from borrower to borrower. Borrowers with the same credit “grades” will often find their interest rates varies wildly from each other. There are several reasons such as the type of loans they are requesting for such as whether it for personal or business use. Another factor is the borrower’s home state interest cap rates for loans.
Since Prosper loans are unsecured loans, if the borrower defaults on the loan, you may or may not get your money back if any at all. You are really making a bet the borrower will pay back the loan in full with interest.
By having a tracking system, you can create a report that will help you better understand past performance of the borrowers who share similar credit grades but different interest rates.
While past performance are not an indicator of future performance, it can certainly help to know where your bets went wrong and which bets helped you succeed in achieving your lending portfolio goals.
Nifty Triple AAA Tool
Yesterday, while I was reading some of Bloomberg.com articles, I came across this article talking about how people are changing their travel plans to go to the Jersey Shore because it is close enough for one tank of gas for those living in the greater New York area.
In the article, it pointed to a link […]
The Banana Roundup : Week 23
Editor’s Note : I will be posting a weekly roundup of postings on personal finance topics I enjoyed reading in the personal finance blogosphere. These bloggers can be found my Blogroll page. Whenever possible, if I come across a new one I like, I will add them to the Blogroll and try to include them in my roundup.
How Much Cash Is Enough?
Loading …I was surprised to read this article at Bloomberg.com which basically talks about how China is handling the latest inflation situation in their country.
The central bank will keep using the reserve requirement to curb inflation as it has a milder impact on economic growth compared to interest rates.
Sounds Familiar?
I was reading this article at Bloomberg.com today when I noticed this quote,
“At least it’s an increase in reserves, even though it’s still very small,” said Fanie Joubert, an economist at Efficient Group in Pretoria. “The problem is the speed at which imports are rising. It indicates the Reserve Bank needs to continue building reserves.”
POLL : Are You Trimming Expenses or Miles?
Loading …Due to a recent comment here, I thought I would post a poll about what is the rising gas prices forcing you to do. Are you trimming your miles to stay within your budget? Or are you trimming your expenses to stay within your budget to account for gas?
Net Worth Mini-Statement June 2008
In keeping with the trend of reporting my net worth during quarterly statements, I am only going to post a mini-statement for each month as part of an effort to Keep It Simple and Smart.
Budget Ahead For Gas
The reason for accounting for $5.00 a gallon is so that I can give myself a little breathing room for price changes. I would not be surprised to see the price of gas go over $5 at some point in the future. When that happens, I will certainly adjust my budget to reflect $6 a gallon.
POLL : How Is Rising Gas Prices Affecting Your Spending?
Loading …I am curious to see whether you find yourself spending less, the same, or more because of rising gas prices. Some people find themselves spending more because of the latest gas prices, some people find themselves spending the same but cutting back on other areas such as eating out, etc… in order to afford gas prices while within the monthly budget.
Your Vote Counts!
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