Let’s Talk About Prosper

While researching different p2p (peer to peer) lending platforms, I learned that the two most popular and mainstream options are Lending Club and Prosper. They have similar set-ups and goals, but they certainly differ in their requirements to be a lender. They’re both great, it just depends on how much money that you have to start off with. Lending Club requires a starting amount of $1,000.00. That also means that you could start to make a decent monthly return (don’t forget that return includes BOTH principal payment and interest together, not just interest). My financial situation does not allow for me to have a free $1,000.00 hanging around…yet. I’ll get there eventually. Patience is key in the financial improvement world when you have little to start with. In comes Prosper. Honestly, I know more about Prosper than Lending Club simply because I am able to invest with them. Prosper only requires a first deposit of $25 and the minimum to invest in a loan is $25.

 

So yay! You’ve ready to invest your first $25 into a loan! Where do you start? What’s your game-plan going to be? Don’t know yet? Neither did I, and I’m still learning and growing. Bear in mind this one awesome detail: you don’t have to fun an entire loan by yourself (and in my opinion you probably shouldn’t). You can put in as little as $25 per loan. These loans are funded by a large group of investors, not just one, so it’s less risky if you invest in many loans with smaller amounts, than one loan with a larger amount. How do you choose which ones to invest in? It’s tempting when you get on the list of available loans and you see that D grade loan with a 23% interest rate that looks so attractive…soooooo attractive. Then you see the A grade loan next to it that looks…not quite as attractive. You think to yourself: really? 7%? Ugh. But there’s something important about the difference between these two loans and it’s a huge deal when you can’t afford to lose any money. As attractive as that high interest loan might seem…it may not be the best option for you…or it could the be that the A grade loan isn’t right. I’ll tell you why.

 

When Prosper vets’ borrowers they have a multi-step process. Borrowers enter information about their finances including their income, what the loan is for, etc. Prosper also tells the individuals funding the loan valuable information that could sway an investor one way or another. Prosper rates each loan based on historical statistics of loans of its kind. The ratings go from 1-11, with 11 being the more secure loan to invest in, and 1 being the riskiest (according to Prospers algorithm). Personally, I know that people make mistakes just like I have, so I give a little wiggle room when it comes to the grade and I generally accept 7 or higher. I think about it like this: on paper I did not look that great in the past, but I’d not default on paying a private loan to anyone, as I know that people work very hard for their money just like me. Therefore, I know that Prospers number grade may not encompass the entirety of that borrower. Even with their advanced systems they can’t avoid a borrower who may default on their loan who may have a great numbered grade. It’s unfortunate, but it’s true. Then I look further because I need more info to decide, but Prospers grade is a good starting point. I’ll let that info sink in for now.

I know it’s a whole world of financial possibility that I’ve introduced you to, and we’ll talk about the next steps in my consequent posts. Remember, you can always message me questions and I’ll get back to you asap!

 

P.S. Also, please remember to consult a certified financial advisor when it comes to the big decisions that you need help with. Although I have knowledge in this area, I would not pretend to be an expert. Happy financial improving! 😊Holding-Hundred-Dollar-Bills_4460x4460

Kindness is Contagious

I’ve been inspired lately to write about something that I feel can sometimes be taken for granted. I don’t really know what to say about it so far, so here goes. This is my brain drain about kindness. Kindness is contagious.

Have you ever noticed on the train how someone asking for money often goes ignored? Then, out of the many, one person donates…and it’s a ripple effect. People notice what is happening. Something in them encourages them to give what little they can. Automatically the heaviness on the train lightens just a little bit. A few smiles and kind words are exchanged. We are all reminded of the fact that others, too, are sometimes kind, in a world where it feels that not many are. For a brief second someones day has been made better, and that candle has been re-kindled inside them. The hearts of all involved have been pushed open just a little bit and warmth has been let in. It’s contagious; the best kind of contagious.

I’m a lover of inspirational quotes, so naturally I was looking up the perfect quote to share in this piece about kindness. There were way too many perfect quotes for me to share in one article; too much good material available, ironically! One of my favorite ideas, though, is that kindness begets kindness by using the law of attraction. In a nutshell, what you feel and put out into the world becomes your reality. I have personally known this to be true in my own life.  So, by being truly kind to the core you are not only improving the lives of others, but you are attracting kindness to you. Even when kindness is not reciprocated you can rest easy knowing that the universe has your back, and feel good about what you have done. So, you may ask, what inspired me to write about this? 

I won’t go too far into detail about the reasons behind why I was feeling stressed and low, but I will tell you about the person who showed unconditional kindness. It all happened in a coffee shop, of all places, in midtown NYC. It was a colder day and I went to Princi (which is fabulous, by the way) for a hot chocolate. Upon reaching the register, the barista, Nefertari, could tell that I could use a little boost and she treated me with such care and kindness that it truly warmed my heart. She went above and beyond with amazing customer service, a true to the core smile, and I could tell that her heart is very kind. She didn’t ask questions, she just knew and exuded such a warm, understanding energy that I couldn’t help but smile. I left that day feeling a little bit lighter. I was on the receiving end of a truly kind act, and I haven’t forgotten that. Everyone should have a Nefertari in their lives. I told her I would be writing a shout-out to her on my blog, and I hope to help pay it forward. If you have the chance, stop by, grab a hot chocolate, and enjoy the awesome atmosphere and warmth (literally, too) of Princi on an otherwise cold day. It could be exactly what you needed. Thank you, again, Nefertari, for reminding me that there are truly kind people out there. I hope it comes back to you tenfold!

 

Composing Beauty

Ingenuity, I love that word! It has such a nice ring to it, and such a deep meaning (at least to me). I view ingenuity as an essential skill in creativity, and creativity/ingenuity an essential skill of surviving in this new, digital age. I find it fascinating that one can create a job or a career for themselves where there was nothing before. In today’s day and age the opportunities for money making are endless. One of my inspirations for this exact thing is Lin-Manuel Miranda, internationally famous composer of Hamilton, In The Heights, and a member of Freestyle Love Supreme (who, I’m sure, has many more credits, both famous and not, to his name).

I’m absolutely enthralled by his tenacity, skill, perseverance, and his genius. He literally put himself on the map in the entertainment world. He created something brilliant using just his brains, skills, experience, and a pencil and paper. Not only that, but it’s given other artists the opportunity to be a part of the beautiful, caring community that he’s created throughout this process. He’s even changing the world and peoples’ lives by using his works to support causes that he cares deeply about. That, to me, is ingenuity. It”s creativity. I could write many, MANY more paragraphs about my admiration for him as an artist and person, but I’ll get to that in a later post because I could write a novel on it with my ability to go off on tangents and daydream (although that is not a bad thing).

With technology we have the tools to create new things every day. Heck, this article is new right now. It is not a masterpiece of an article, but it’s being created now, in the moment, and shared. Nowadays we have all kinds of opportunities for financial success, we just have to use our ingenuity to build on them. For example, in the past we couldn’t write something and automatically earn money  within a moments’ notice. Now we can. We couldn’t write a book and have it published on amazon without going through the proper book publishers outside of the company and then selling it…but now we can self-publish books and sell them online. We couldn’t automatically create a video of ourselves performing and broadcast it to the world, thereby gaining fame. Now, we have stars who got their start doing just that on youtube. The opportunities are endless. When you think about it, once you open up your mind and heart to creativity so many ideas can come pouring in, and you just have to work tirelessly at them, with all your passion and heart, to create something that you truly stand by. You don’t even have to create for others. Create for yourself, and your passion, care, tenacity, strength, and genius will shine through and you will find your own success by using inginuity.

Composing Beauty

Ingenuity, I love that word! It has such a nice ring to it, and such a deep meaning (at least to me). I view ingenuity as an essential skill in creativity, and creativity/ingenuity an essential skill of surviving in this new, digital age. I find it fascinating that one can create a job or a career for themselves where there was nothing before. In today’s day and age the opportunities for money making are endless. One of my inspirations for this exact thing is Lin-Manuel Miranda, internationally famous composer of Hamilton, In The Heights, and a member of Freestyle Love Supreme (who, I’m sure, has many more credits, both famous and not, to his name).

I’m absolutely enthralled by his tenacity, skill, perseverance, and his genius. He literally put himself on the map in the entertainment world. He created something brilliant using just his brains, skills, experience, and a pencil and paper. Not only that, but it’s given other artists the opportunity to be a part of the beautiful, caring community that he’s created throughout this process. He’s even changing the world and peoples’ lives by using his works to support causes that he cares deeply about. That, to me, is ingenuity. It”s creativity. I could write many, MANY more paragraphs about my admiration for him as an artist and person, but I’ll get to that in a later post because I could write a novel on it with my ability to go off on tangents and daydream (although that is not a bad thing).

With technology we have the tools to create new things every day. Heck, this article is new right now. It is not a masterpiece of an article, but it’s being created now, in the moment, and shared. Nowadays we have all kinds of opportunities for financial success, we just have to use our ingenuity to build on them. For example, in the past we couldn’t write something and automatically earn money  within a moments’ notice. Now we can. We couldn’t write a book and have it published on amazon without going through the proper book publishers outside of the company and then selling it…but now we can self-publish books and sell them online. We couldn’t automatically create a video of ourselves performing and broadcast it to the world, thereby gaining fame. Now, we have stars who got their start doing just that on youtube. The opportunities are endless. When you think about it, once you open up your mind and heart to creativity so many ideas can come pouring in, and you just have to work tirelessly at them, with all your passion and heart, to create something that you truly stand by. You don’t even have to create for others. Create for yourself, and your passion, care, tenacity, strength, and genius will shine through and you will find your own success by using inginuity.

RDP Sunday: Rock

Rock has sooooo many avenues that come to mind when I picture the word. There’s rock music, there’s geological rocks, you can even describe someone as your rock. I gotta say, though, that the first thing that came to my mind is one of my favorite places on the face of the planet. It’s an area steeped in geological history that is overtly on display. It’s sense of magnitude and it’s enormity dwarfs you and makes you realize how massive and beautiful the earth is. It overwhelms you. It shows you Mother Nature’s strength. Curious what this place is yet? It’s in the state named for its red rocks…or, Colorado.

Glenwood Canyon is one of the most gorgeous places I’ve ever had the chance to visit. It’s beautiful, red, multi-layered canyon mountains/rocks rise starkly and abruptly for miles, the Colorado River to winding its way through them. One could stare up in awe just like a tourist in NYC, lost for words, for hours. You can see each layer of sediment displayed in the rock formations and how the earth grew and changed during each period. It contains three types of rocks: metamorphic, sedimentary, and igneous, and many subgroups as well. The history of the canyon is long and detailed. The visuals are stunning, with the rock faces reaching up to 1,300 feet in height over the Colorado River. 12.5 miles of amazing. The height of these formations makes one feel like a spec…but a spec that gets to view all of the beauty that the earth has to offer. It is not a scary feeling, nor is it stressful. It is an awe-inspiring reminder that the earth is more powerful, vast, and fascinating than we often times remember. Rock

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