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A Resolution Worth Keeping: Earn More Interest
Posted By Ron On January 14, 2011 @ 5:45 AM In Banking,Investing,Saving Money | Comments Disabled
New Year’s Resolutions are notorious for being kept … for about 6 days. But there are several resolutions worth keeping this new year. One of them really should be to make your money work for you by earning more interest  and by using more cash back programs.
There are a couple of ways to earn more interest this New Year:
Peer to peer lending with sites such as Lending Club  is a great way to increase the amount of interest you’ll earn this year. With rates in the 9% range and better, you can certainly earn more on your money with Lending Club  than with a traditional brick-and-mortar bank. There is an element of risk so be certain to understand who you’re investing in and make certain their FICO score or credit score  meets your requirements.
The great thing about Lending Club  is you can limit your exposure by allocating as little as $25 to an individual borrower. For example, if you’re investing $1,000 you can actually invest  $25 into each of 40 borrowers, effectively lowering your risk of any one borrower going belly-up. At the moment, you can invest  in Lending Club  notes if you live in California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Louisiana, Minnesota, Mississippi, Montana, New Hampshire, Nevada, New York, Rhode Island, South Carolina, South Dakota, Utah, Virginia, Washington, Wisconsin, West Virginia, and Wyoming.