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My thoughts about prosper.com

August 28th, 2006 at 07:32 pm

Heard about this on the radio today. I work hard for my money. I work hard to save my money. I am pretty sure investing via the web to people I don't know doesn't fit with my risk tolerance.

Finance 101 says as the risk goes up the rate of turn must increase. My "sleep comfortably at night" meter has gone wild and predicts much insomnia if I go this route. I rate myself with a high risk tolerance. But no thanks!

For the record I'm not interested in borrowing money this way either. I've finally become debt free. I'm hoping to stay that way. And if i do get into debt it will be for a specific reason and I'll do so with an established lender with a good reputation and decent service.

1 Responses to “My thoughts about prosper.com”

  1. LdyFaile Says:

    From what I've read about it, it doesn't seem all bad. It's not something I'm looking at borrowing from but I think if at some point I have some extra cash floating around I might try my hand at lending. Just a little here and a little there. Treat it like I would any friend/family borrowing money, expect to not get it back but get a pleasant surprise if it does with interest. What I like about it is the loan does show up on the borrowers credit report so if they decide to flake on the loan it does reflect negatively on them, as opposed to if my brother never pays me back no one really will ever know.

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