How To Avoid The 3 Biggest Risks In Peer Lending

How To Avoid The 3 Biggest Risks In Peer LendingHello! Here is a post from a blogger friend. Peer lending is something I have been interested in learning more about, so I thought this topic would be perfect for my readers. Enjoy! 

If you haven’t heard about the peer lending revolution yet, you soon will. Both companies in the space, Prosper and Lending Club, are issuing more than $100 million in new loans every month.

The revolution in peer lending is opening a new world to investors but many are being caught off guard. Know the risks and resources before investing in online loans and you might just find one of your favorite investments.


Peer lending is taking the power from big banks

The first peer loans were made on Prosper nearly a decade ago but the movement has only just begun to gain momentum over the last year. It took Prosper over eight years to originate a billion dollars in loans. It took the loan platform just six months this year to originate its second billion.

Peer lending is the coming together of the online world and traditional lending. Borrowers fill out an application for up to $35,000 on a lending website, either Prosper or Lending Club in the United States. After a credit check and review, the application is assigned a credit rating and an interest rate.

The loan request then goes live on the website for investors to fund. Investors decide how much they want to fund in a particular loan, as low as $25, and in how many loans they want to invest. Once enough people choose to invest in a loan and it reaches its requested amount, the money is deposited in the borrower’s bank account.

The borrower makes regular payments to the lending website, as with any loan, and the website passes payments on to investors. The concept is nothing new, people have been investing in bank loans for ages but they’ve always had to go through the bank or a brokerage firm.

Peer lending is changing all that and connecting borrowers with investors directly. [Read more…]

The Effect of Just $20/hr on a Student Loan

The Effect of Just $20hr on a Student LoanHello! Enjoy this post from a blog friend of mine.

I think most of us would agree that earning more would allow us to save more. Contrarily, SPENDING more is going to save you more, and I’ll illustrate how.

Fact. The average college graduate has $33,000 in student loans at graduation.

In a generation with abundant information, I’m always amazed at how the post-college world is mystified, and how the approach to student loans thus far has not been met with solutions, only an explanation of the problem.

When I finished school, I started making $20 per hour designing logos for friends and family. If I worked just 5 hours per week, I’d make $400 per month. In a year that’s $4,800. That second income, the Side-Stream, was HUGE for me.

In 4 years, I’d have earned $19,200.

So let’s talk about debt and how this $20 can earn and save money at the same time.

With an average of $33,000 and a common 6% interest rate and ten-year term, you owe just under $400 per month. But with interest added, your actual debt becomes nearly 30% higher, assuming you only pay the minimum monthly payment: [Read more…]

4 Interesting Ways To Make Side Income Including Sleeping and Selling Your Poop

4 Interesting Ways vTo Make Extra Income Including Sleeping and Selling Your PoopThere are many different ways to make a side income out there. You can make money at a part-time job, a full-time job, online, offline, and any other way that you are able to.

Side income can come in handy, and sometimes you may want to branch out and try something different.

Maybe you need a significant amount of side income to pay off a large unexpected expense or maybe you are just looking for a more interesting way to make money.

Whatever your reason may be, there is something out there for you to do.

If you’re interested in reading about the ways I’ve made extra money, read 10 Things I’ve Done To Make Extra Money. Also, don’t forget that even if you don’t have a blog, you can still make money through your social media accounts such as Twitter and Instagram!

Below are four interesting side income ideas:


1. Sleep for extra money.

The first of the four side income ideas I will discuss today is the NASA sleep study.

Getting paid to sleep sounds interesting, right? Well for some it can pay fairly well, to the tune of $18,000. All you have to do is lay in a bed for 70 days. [Read more…]

$15,396 in January Income – My Monthly Online Income Report

$15,396 January Income – My Monthly Online Income Report

Welcome to January’s online income report where I show you how I make money online. It’s time to look at my monthly income update and track my progress once again.

Background information on my monthly income reports.

If you are new here, you might be wondering why I publish my income reports each month.

This all started out as my side income report because in the beginning it was all about the money I was earning from my side jobs. In my side income reports from the beginning, I included all of the income I made except for what I made at my day job (that was a fixed amount and boring anyways).

However, in the beginning of September of 2013, I turned in my notice and my last day at my day job was in October of 2013.

Now, my monthly income report consists of the many different ways I bring in an income each month. [Read more…]

Use Izea To Make Money Blogging And $500 Cash Giveaway

Use Izea To Make Money Blogging And $500 Cash GiveawayHere on Making Sense of Cents, I talk about making extra money a lot. I mean, just take a look at some of my posts below:

I am all about extra income because I believe that making a side income can change your life. It can help you pay down your debt, it can help you stop living pay check to paycheck, and it can help you save for the things that you have always wanted, such as a fun vacation for your family.

Today, I am going to discuss a way to make extra money that pretty much anyone can do. If you have a Facebook account, a blog, a Twitter account, an Instagram account, or something else, you could be using your social media accounts to make some extra money. [Read more…]

10 Ways To Make Money Online From The Comfort of Your Home

10 Ways To Make Money At Home Online - Make Side MoneyAre you interested in learning how to make money online? In this post I will show you 10 different ways to make money online that YOU may be able to do.

There are many legitimate online careers out there where you can earn a full-time living or at least some side income.

Like I say in every one of my monthly online income reports, I love being able to earn a living online. In addition to the fact that you can actually make money online, other positives include that you can be location independent, your business expenses most likely are going to be low, and you can work from home!

Today I am going to show you how to make side money or a full-time income with the 10 different ways to make money online below. [Read more…]