Friday Night Lights - The Campaign Continues

Sorry for the slowdown around here. I'm technically "on vacation" even though Britney & I had to cancel our ski trip to Lake Placid due to the blizzard they had in upstate NY. Something like 20 inches of snow fell the day before we were supposed to head up there and roads closed, etc. So...we're on vacation...at home...with a one year old...and stuff to do around the house. It's a pretty sweet vacation.

Nonetheless - this isn't about my vacation - it's about the sincerity of the fans of my favorite show 'Friday Night Lights'. What you're looking at in this picture is the result of the first wave of fund raising over at SaveFridayNightLights.TV. This is the first 6,250 mini-footballs that were shipped to NBC in an effort to save the show. Since this shipment, the site has raised enough money to send 10,000 more mini-footballs, give over $1700 to charity, and give more than $900 worth of DVDs to soldiers in Iraq. If you haven't donated yet, get your paypal checkbook out and start giving. NBC has not yet renewed the series but things are looking up and the smallest donation can help!

A Pretty Cool "Coincidence"

I'm not going to continue to try and beat you over the head to get you to sponsor a child through Compassion International. I did a number of postings last week talking about what's going on over in Africa, the team of bloggers that was there documenting the conditions and the difference that Compassion's programs make in the lives of the kids there, etc. Read for yourself and decide if sponsoring is right for you.

I did want to relay a pretty cool story though. Britney and I talked about what was going on in Uganda for several nights before we decided to sponsor a child. I was following Carlos' blog each day as he posted stories of what he was seeing and hearing and then I was coming home each night and relaying the stories to Britney. We would sit and watch the videos and talk about how cute the kids were or how sad the conditions were, etc. We finally decided to go ahead and make the commitment to sponsor a child.

We chose Uganda as the country based on the fact that Carlos and team were there and we were getting 'live' input on the difference that sponsorship made in Uganda (I'm sure it's equally as important in other areas). We chose to sponsor a girl based on the fact that we have our own little girl and thought it'd be neat for her to have a pen pal across the world when she gets older. When we applied those two conditions (Uganda and Female), we had quite a list to choose from. We looked through page after page of pictures and narrowed our choice down as we went - primarily based on age or how cute they were (sad to say). Finally we zeroed in on the girl we sponsored - Phinah - and went through with the deal.

Over the weekend, the packet came from Compassion with the details about Phinah, a bigger picture of her to put up on our refridgerator, information on how to correspond with her, etc. We opened the packet and started reading more about her. It was so weird - her birthday is the day that Britney and I got married - same day, same year, everything. Now - maybe that's just a coincidence - but it sure seemed providential to me. Needless to say, we took it as a sign that we were doing the right thing and that we had chosen the right child for our family!

Free $25.00 and a Chance at an Infinite Return!

I've talked in the past couple of weeks about venturing into the world of social lending and so far, so good. I've got $500.00 in loans over at Prosper.com and my average rate of return is over 16%. I'll let you know if anything starts going south and people start defaulting.

Today's deal comes from Prosper's main competitor - LendingClub.com. LendingClub is offering a promotion of $25.00 for opening a new account. The site operates much the same way as Prosper - people can lend and borrow money from each other rather than through a bank. It gives lenders a chance to get better returns and borrowers a chance to get more favorable terms than they might get elsewhere. LendingClub's special deal is an effort to get more people borrowing and lending. Here's how to take advantage of the deal:

1. Go to LendingClub.com and sign up to open an account and become a lender.
2. After entering some basic information about yourself, LendingClub will send you an email to verify your account.
3. After verifying your account with the link they send in your email, go back to LendingClub.com, log in, and enter your bank account information on the Bank Account page.
4. In the next couple of days, LendingClub will either add a few cents to your account or take a few cents from your account and you will need to go back to LendingClub and verify the amounts added/taken away (usually it's like two 15 cent credits/debits). This is how financial sites verify that you are the owner of the bank account that you listed and is standard for online financial sites - nothing to worry about!
5. Once your bank account is verified, fund your LendingClub account with $1.00.

That's all there is to it. The promotion states that new accounts that are funded with $1-$999 are eligible for the $25.00 promotion. The site will credit your account within a week of the $1.00 going into your account. Free money!

Now - you could stop there if you just want to get the cash. But - if you're willing to actually fund a loan on the site, you have a chance for an INFINITE return (you invested $0 and any amount that you get in return would equal an infinite return!). LendingClub allows lenders to fund loans in $25.00 increments (Prosper requires $50.00 increments) - so if you want to try to get more than the free $25.00, turn around and lend out that $25.00. You get to shop around and find a loan that you're interested in making based on the proposed interest rate, borrower information, etc. Lend that money out and give the site a test drive. It costs you nothing and offers the rare chance of getting an unbelievable rate of return!

By the way - I realize that you actually invested $1.00 (not $0) - but as soon as the promotional funds hit your account, you can transfer that $1.00 back to yourself - so you really have not invested anything at all!

Website Recommendation: File2HD.com

I hesitate a little bit to post a recommendation for this site simply because I know that not everyone that reads this blog is computer saavy. Let me preface this recommendation by saying that if you're not at least a little bit comfortable with computers, this site won't be useful to you. If you are, however, this site is pretty cool.

File2HD.com lets you save files off of websites onto your hard drive. This site does things that you can't do on your own by just right-clicking and selecting save. For example, you can enter a MySpace page and tell the site that you're interested in saving the audio files off the site and it will give you the ability to do so. That is something that, without the help of a tool like this, is virtually impossible to do. All you have to do to use the site is enter a website and tell it what type of file you're interested in saving (audio, images, etc.). File2HD will examine the page you entered and gather all of the data that can be saved off of the page. I use it all the time to do things like save pictures and music.

Sorry for posting a site that isn't applicable to everyone, but this is a cool tool for those that can figure out how to operate it so I wanted to go ahead and share. Drop me a note if you can't figure it out and I'll try to help.

Friday Night Lights May Actually Survive!

It appears that all of the furor and uproar from fans over the potential cancellation of 'Friday Night Lights' may have gotten the attention of execs at NBC. Variety magazine is reporting that NBC execs are trying their hardest to find another network to partner with so that 'Lights' can survive for a third season. That is fantastic news!! My co-worker, Matt (last name withheld so as not to humiliate him), told me last week that I needed to give up the dream of saving my favorite show. It looks like I may get the last laugh after all.

It's still in the make-or-break period though and support still needs to be shown. Head over to SaveFridayNightLights.TV and make a donation (or another donation) and let's make sure that NBC knows that there are people out here that want this show around for another season!!

An Idea for an Online Business

Believe it or not, I was actually asked to speak to my Sunday School class last week on the topic of personal finance. I am betting that invitation had more to do with my parents being the teachers than any expertise I might have in this area - but I was asked nonetheless. One of my primary recommendations was for people to start a home business - both for the income stream it may generate and for the tax advantages. I've had my CD business for nearly 8 years now and it has helped with my Roth IRA, vacations for my family, and a lot of other things that my primary income would not cover. The problem that people have with starting a business is that they often can't come up with an idea. Today I'm giving you a business idea for free.

Two days ago I posted about two sites that give you money for your old electronics - SecondRotation.com and TechForward.com. Given that both of these sites will tell you UPFRONT what the value of the electronics are, you could actually start a business buying electronics on Ebay, Craigslist, Freecycle, etc. and 'flipping' them to these companies that buy the devices. You buy the device and immediately sell it to SecondRotation and/or TechForward and pocket the difference between what you pay and what you sell it for. Pay for the items with your credit card and you can theoretically start the business with no money out of pocket.

If I wasn't already busy with my job and the CD business, I'd give it a shot. If anybody actually tries it, let me know how it works out - and don't say I never gave you anything!

Get a Better Credit Card

I love going to Costco. I've mentioned the benefits you can get from shopping at warehouse clubs in some of my earlier posts. Yesterday, however, I had an annoying experience at Costco that reminded me to post about something that I've been meaning to discuss and that some people don't know.

I was going through the checkout line and gave my American Express card to the cashier (Costco only takes cash/debit or American Express). The cashier made some kind of motion when she saw my card and the next thing I knew, some lady appeared at my side trying to push the Costco AmEx card on me. I felt really bothered by the fact that the cashiers were summoning these shills over whenever someone paid with a card that wasn't the Costco branded card. It felt to me like they were using semi-private information (what kind of card I use) for their own benefit. I didn't like it one bit.

Anyway - the lady gave me her best pitch, trying to get me to sign up for the card. She was telling me about how I could get 3% back on gas purchases (except when I purchased from their competitors at Sams & BJs!) and 1% on other purchases. I listened to her explain all the benefits and then simply told her that I was sorry - my current AmEx has better benefits. She told me that this was not possible since their card was the best consumer AmEx card. That's exactly my point - I don't have a consumer AmEx card! I have a business AmEx card and you can have one too. Anybody can have a business AmEx - all you have to do is fill out the application and list your business as a sole proprietorship with one employee (yourself). You use your own Social Security number as the tax id. That's all there is to it!

Most credit card companies give much more favorable terms on their business cards since these often get issued to companies that are large and have many employees. Your sole proprietorship (You Inc.) can reap the same benefits that these big companies get and most people don't take advantage of this. I've got two business cards myself for my side business and I don't plan on ever going back to the consumer cards - the benefits just don't stack up!

Get Paid For Your Old Electronics

If you're like me, you probably have a decent collection of old cell phones, video game systems, MP3 players, etc. Every year or two I seem to upgrade my gadgets and am left wondering what to do with the old ones. In the past, I've simply given them to Goodwill (which is still a decent way to get rid of things). However, with the IRS cracking down on charity donations and the issues around disposal of electronics (putting them in landfills is not good for the environment), I started wondering if there were better ways to get rid of this stuff. Turns out there are ways that I can both help the environment and make some money!

Second Rotation is a site that buys back all kinds of electronics - cell phones, digital cameras, video game consoles, MP3 players, etc. - and extends their life by selling them in markets where the technology is still viable or in demand. You enter your device, give the details about it (what condition it's in, etc.), mail it to them, and get paid. If your device can't be resold, they'll recycle it in an environmentally friendly way.

TechForward works a little differently - but the concept is the same. This site allows you to lock in a future trade value for your unwanted devices. I have an 80GB IPod that I know I may not want in a year. I can go to the site, tell them that I will send the IPod in one year from now, and lock in a trade value for the IPod. Once I'm locked in, I am guaranteed to get the amount that they promise - AND if I decide I don't want to send it in a year from now, I'm free to walk away! Just like Second Rotation, these items are sold in other markets and, if they're unsellable, are recycled in environmentally friendly ways.

There are a number of sites popping up around the net that offer this type of service. So - next time you're thinking of getting rid of a piece of electronics, think again. You may be able to pocket some cash in the process!

I Just Made $100 in 5 Minutes

Here's a great way for you to put $100 (or more) in your pocket and it only takes about 5 minutes. Have you been getting the ads in your mail for all the cable/internet/phone packages on the market? I get at least one a week from both Time Warner and Windstream. Any time I see that kind of aggressive marketing, a bell goes off in my head. These two companies are in a war for customers and this is an opportunity for me to reap some benefit as a result.

What did I do to get the money? I called my current cable/internet provider, Time Warner, and asked for their cancellations department. When the cancellation department came online, I simply told them that I'm interested in cancelling my service with them because I got a better deal at Windstream. Immediately Time Warner offered me a deal that keeps my service exactly as it currently is but will cost more than $100 less over the next 6 months. If they had not offered a better price, I could have either gone through with the cancellation (which would have been a pain), told them that I needed to double check with my wife before placing the final order (which would have gotten me off the phone and I wouldn't have lost anything), or told them I had a bad connection and called back in hopes that I got a different person who may be willing to negotiate.

You've got nothing to lose and everything to gain when dealing with these companies. Cable/Internet/Phone service is rapidly becoming a commodity and these companies are facing shrinking margins. At this point, they are in the volume business and that means they need to keep customers at almost any cost (since keeping current customers is cheaper than acquiring new ones). Give it a try - it worked for me!

Oh yeah - don't think I won't be calling back in 6 months when my bill goes back up. This could be a $200 deal before it's all said and done!

Free Platinum Status at Hyatt

For the second day in a row I'm linking to an offer for free status. Hyatt has a promotion now for free platinum status (their 2nd highest level) just for registering for a new Gold Passport account. It's absolutely free and is good through March 31st. If you stay at a Hyatt between the time you register and 3/31, the status lasts until February 2009. The link for the offer is HERE.

Now - what if you don't plan to stay at a Hyatt and don't have any use for status with them? There's another good reason to register. Hyatt Platinum members get a one-year free membership in Clear. Clear is the fast-track program that's being implemented at airports across the country. Clear members register their information, Clear checks it with the government, and you, as a member, get to bypass those ultra long security lines in airports. A year's membership costs $128.00 - so it's worth getting for free!

Our New Little Girl

As I've mentioned in earlier posts, my friend Carlos Whittaker and a team of 15 bloggers are in Uganda this week as part of a Compassion International trip. The bloggers are posting videos, pictures, and stories of what they're seeing there. After watching and reading these stories, we made the decision to commit to sponsoring a child in Uganda. $32.00 per month can and will make a difference in her life and we are excited about getting to know our new little girl.

Her name is Phinah and she is 3 years old. She lives in the Budimo Village of Uganda with her parents and 3 other children. Neither of her parents have regular jobs. In this area of Uganda, adults that are employed full time average an income of $2 per month. Her village is in an area that is heavily affected by HIV/AIDS. Our sponsorship will get Phinah in a program that will provide her with health screenings, supplementary food, education (school fees, clothing & supplies), and communication and life skills training. We are excited about the opportunity to communicate with and get to know Phinah. Welcome to our family!

If you'd like to sponsor a child and make a difference in an area that desperately needs it, here is the link to do so.

Free Silver Status on Virgin Atlantic

American Express and Virgin Atlantic are currently running a promotion offering free silver status (their 2nd highest status) and 2,000 frequent flyer miles just for opening a frequent flyer account. The link to the promotion can be found HERE.

Now - you may be asking yourself why you would want to sign up for a frequent flyer account on a primarily British airline. There are a couple of reasons for doing so. One reason is that VA is a partner with a number of hotels, car rental companies, other airlines, etc. - so over time you may be able to transfer your miles into a more frequently used program. The second and perhaps better reason to sign up is because of status matching. Status matching is when you, as a newly minted Silver Elite flyer on VA, send a letter to another airline asking that they match your status on VA. I got free status on Delta several years ago and sent US Airways a letter and was immediately granted similar status. It doesn't always work but it's worth a shot and all it takes is a letter to customer service of your favorite airline. Make sure to include a screen print of your status on Virgin Atlantic as proof!

Happy flying!

Social Lending - Status Update

As I said in my post last week, my online savings accounts are rapidly dropping their rates in response to the Fed's interest rate cuts. My BEST rate is now all the way down to 4.1% over at ETrade. So - in search of higher rates, I decided to pursue the social lending angle. You can read more about what that is here.

Here's where things stand so far. I decided to go to Prosper.com (primarily because I was already a member and had the bank account money transfer already set up) and I deposited $500.00. My criteria for making a loan was that I would not go below an A credit rating (AA is the highest and it goes A-B-C-D-E from there), I would only lend to people that owned a home, and I would lend in $50.00 increments. That essentially means that I would fund 10 loans. All loans at Prosper are 3 year loans.

I've got to admit - I'm very pleased with the results thus far. Across the 10 loans I've bid on, my average interest rate for the whole suite of loans is 19.89%. I realize that this is a riskier investment - but my lending standards are pretty high (high credit rating, home ownership, no defaults in the past 7 years, etc.) so I feel like the odds of borrowers defaulting is pretty low. In fact, if two of the ten loans default (which would mean now I'm only earning 19.89% on $400), I would still come out ahead of any investment of $500 earning less than 11.3% interest and there's none of those out there right now!! If three loans default, I'm ahead of any $500 investment earning less than 6.5% interest - also almost impossible to find right now.

I'm feeling pretty good at this point. Not good enough to move more cash into play at this point - but I may be doing so in the near future if the payments all start pouring in on time!

Friday Night Lights - There's More You Can Do

The campaign to save Friday Night Lights looks like it's picking up some momentum around the internet. There are rumors out there that the show may be moved to one of NBC's affiliate networks (Bravo, USA, etc.) rather than completely cancelled. That's fine with me as long as the show isn't taken off the air.

SaveFridayNightLights.TV has another campaign going - one that proved effective last year when fans saved 'Jericho' from cancellation by CBS. Jericho fans contributed money and bombarded CBS headquarters with packages of peanuts (why peanuts? I really don't know). In similar fashion, this website is collecting PayPal donations and will be sending 6-inch plastic footballs to NBC with 'Save Friday Night Lights' printed on them. Take a look at the site and give a little money. So far, they've got enough to send nearly 2100 footballs!

FYI - you can make a PayPal donation via credit card even if you don't have a PayPal account!

Get 50 Free Pictures from SnapFish

Most of the deals I see for free prints from the online picture companies are for new customers. Here's an offer of 50 free prints AND free shipping for anyone - new customer or old. Here's what you do:

1. Go to this website: http://www1.snapfish.com/hpprintsjumpentercode/t_=8552477

2. Enter the following: model number c717nr and serial number 0000000000

3. Log in to your account (or create a new account if you don't have one)

4. Select or upload your 50 photos

5. Use coupon code PRINTFREE at checkout and you'll get free shipping!

This offer expires at the end of February, so don't miss out!

On the Ground in Uganda

As I mentioned yesterday, my friend Carlos Whittaker and a team of 15 bloggers are on the ground in Uganda as part of a Compassion International outreach trip. The trip is designed to let these 15 bloggers bring eyes and ears to the conditions that many people across the world face on a daily basis. You can find links to all 15 blogs HERE.

In this picture, Carlos is showing the Ugandan boys a picture of his adopted son Losiah. When he explains the meaning of the word 'adopt', the little boy in the basketball jersey asked Carlos if he would adopt him. That, to me, is heart breaking.

Please take some time to read these blogs over the next few days. The team will be in Uganda through the 18th of February. I'm also including a link below for Compassion International in the event that you decide that sponsoring a child is something you're interested in.

Stop Getting Phone Books

I remember, once upon a time, when you got a new phone book once per year and/or when you moved to a new residence. Those days are apparently gone. I swear I get a new phone book about once per month. I've got a giant stack of them under the island in my kitchen and I hardly, if ever, use them. These days, they even come in different sizes. I have a miniature version of the yellow pages that contains the exact same listings just in smaller print! Amazing. With the advent of the internet, who needs the print versions anymore. If you need a number, go to YellowPages.com or WhoWhere.com or 411.com.

If you want them to stop dropping new phone books off at your house every month (or however often you get one) and you live in an area served by AT&T (formerly BellSouth in my area), here's the number to call: 1-800-682-4000. Save a tree, some ink, some gas and some room under the island in your kitchen!

Friday Night Lights - This Calls For Action

If you've been here long, you know that I am a big big fan of NBC's show 'Friday Night Lights'. In my opinion (and in the opinion of my wife and at least 3 other people I know), this is the best show on TV hands down. I don't actually know anyone that watches the show that doesn't absolutely love it. Here's the problem - NBC is thinking of cancelling the show. Read the comments HERE from NBC's head of entertainment, Ben Silverman.

So...we absolutely have to take action so that this show doesn't get cancelled. If this sounds like a desperate plea - well...it is. Here's what you can do:

1. Go over to Best Week Ever and sign their online petition.

2. Go to PetitionOnline and sign their petition.

3. Send letters to Jeff Zucker and Ben Silverman at NBC/Universal telling them that you'll never watch another NBC show ever again or buy another GE product (NBC's parent company) AND you'll devote your life to making every NBC show fail miserably in the ratings AND you'll make it your life's cause to see CBS, ABC, and FOX succeed by any means necessary if this show is not renewed. Here's their address:

Jeff Zucker/Ben Silverman (send a letter to each one separately)

NBC/Universal

100 Universal City Plaza

Universal City, CA 91608

If you want to do what some other websites are suggesting, you can send these two guys a light bulb with 'Keep Lights On' written on it. I'm not sure how to prevent it breaking in transit - but that's their problem. You could, alternatively, include some 'Clear Eyes' eye drops - as one of the mottos on the show is 'Clear Eyes, Full Hearts Can't Lose'.

In all seriousness, please (I beg you), take the time to do one or all of the things above. My high school football career ended in less-than-spectacular fashion and this show is one of the best outlets I have for vicarious living. Plus it's a really good show. Seriously.

Ragamuffin Soul - Live from Uganda

My friend from high school, Carlos Whittaker, is doing something that not many of us are willing to do. He and his wife are leaving their 3 kids behind and heading to Uganda as part of a Compassion International mission trip. They, along with 10 other bloggers, will be logging exactly what they are seeing through video, words, and photos. Take a few minutes and head over to Ragamuffin Soul and see exactly what's happening on the ground in Africa.

Last Man Standing

I guess this kind of thing is inevitable with the passage of time but I saw that on Monday of this week, one of the two remaining World War I veterans in the United States passed away at 107 years of age. That leaves just one surviving veteran of 'The Great War' - 107 year old Frank Buckles of Charles Town, WV. Worldwide, there are only 14 known veterans still alive - all of them 106 years old or older.

The last time something like this happened was in 1992 when Nathan Cook, the last surviving veteran of the Spanish American war, passed away at 106.

11 Year Old with NBA Skills

One of my favorite things to do when I feel not-so-good about myself and my declining athletic skills is to imagine how great I would be if I was playing against a bunch of little kids. I'm pretty sure I'd be the best player in the local Little League. I'm also pretty sure that most Pee Wee football players would have a hard time tackling me and that I'd lead the league in TDs if I were allowed to play.

Until yesterday, I also thought that I was better than every 5th grader in the country in hoops. This video has altered that perception and sent my ego into a tailspin. This kid is unbelievable. And - in addition to being good at basketball, he also is the world record holder in his age group for running a mile. Great - now I can't even beat up on little kids anymore. I'm depressed.

Two Credit Unions that Almost Anyone Can Join

A couple of days ago, I did a post about the benefits of joining a credit union. In the post, I gave a link to a site (FindaCreditUnion.com) that you could use to find a credit union that you're eligible to join. Realizing that not everyone will take the time to use that site, I decided to find a couple of credit unions that almost anyone can join. Now you have no excuse for not joining one!

Oak Trust Credit Union is located in the Chicago area (which doesn't really matter since you're probably not looking to do your day-to-day banking there). It's been around since 1964 and is a member of the NCUA (the organization that insures your deposits - just like the FDIC). Anyone can join by making a $1.00 donation to the Illinois Press Foundation. They have a note on their site to make sure you know that the $1.00 donation is non-refundable!

Christian Community Credit Union is open to anyone who belongs to the Christian faith. You have to be willing to affirm a "Statement of Faith" when you apply for membership (though I'm not sure if there's any way they could actually tell if you truly meant it or not!?). If you're not a Christian (another topic for another day) but have a family member that is, you can have them join and then join under their Family Member clause. This credit union is NOT federally insured. They have private insurance that serves the same purpose - but I'm just not as familiar with the company they use (American Share Insurance).

Once again, joining a credit union is a great idea and gives you alternatives when it comes to loans, investments, etc. If you don't have another one already in mind, check out one of these!

Insiders are Betting on a Bull Market

Here's what really bugs me lately about the stock market and the economy in general: every day you read that 'market tanks on fears of recession' or something of that ilk. Why don't we all just go ahead and say we're in a recession?!? If we just go ahead and say it, we can stop 'fearing' it and get on with the business of turning it around. Headlines like that and the fact that the market is reacting to fears of something that we all know is here really bugs me. OK - enough on that.

I read an interesting article yesterday over at MarketWatch talking about corporate insider trading. If you don't know, insiders are typically high ranking employees at public companies that have stock options or own large numbers of shares. When a corporate insider makes a trade, they are required to report it to the SEC. You can even go over to Yahoo Financials and view the insider trades (warning - it's depressing knowing that some guy three or four spots above you on the corporate ladder just exercised $10 million in stock options). The point of the article was that corporate insiders are actually buying MORE of their company shares these days. That's a very rare occurance - typically they're cashing out over a period of time.

So - what does this tell us? To me (and to the author) it indicates that corporate insiders who, theoretically, should know the most about their own companies and their business outlook are buying shares because they think that the market is at a low point. Why would you buy shares in this type of shaky market if you didn't think that better days (higher stock prices) were coming? Hopefully Wall Street will take notice of this phenomenon and we'll get some better headlines in the not too distant future so the market can over react to them in the other direction!

Social Lending - I'm Going In

As interest rates continue dropping, I'm starting to wonder if there might not be other places I could look that would offer better returns. I've been hesitant to date to get involved with the whole 'social lending' phenomenon (though I did do a post a while back about Prosper.com) but with my BEST savings account now paying out a measly 4.4%, I think I've decided I'm going to give it a go.

If you don't recall my earlier post, social lending is essentially person-to-person lending that is usually facilitated by a company like Prosper.com. Prosper takes loan applications from individuals, evaluates their credit history (which is made available to the potential lenders), and then brings lenders like me together with people looking to borrow. Borrowers can often get better rates than they might otherwise be able to get from a bank loan and lenders can certainly get better rates than they would by putting money into a savings account or a cd. There is, however, the risk of default.

Prosper (and other lending sites like LendingClub.com or Zopa.com) have done their best to try to reduce defaults. They employ collection agencies that go after non-paying borrowers and essentially treat defaults the exact same way a bank would. Prosper also allows me to break up my loans into $50 increments - meaning I could fund 10 different loans with $50 each and diversify my risk a bit. Given that Prosper's conservative loan portfolio (the one that they rank as the safest investment) is paying out more than 8% interest, I'm gonna give it a shot. I'll let you know what happens!!

Give it a Shot

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40

I am terrible at colors!

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I am not, however, terrible at beating up little kids.

Coolest Guest Speaker EVER!

I've already confessed my rock and roll dreams to the readers of this blog, so today's confession just takes things one step further. I'll confess that the guys in the picture were and still are my all time favorite band. Make fun of me if you like - but Stryper holds a place in my heart that no other artist will ever touch. I realize that the outfits are a bit ridiculous in hind sight and that a couple of these guys look like girls - but that's beside the point. This band represented everything I ever wanted to be when I was 16 AND they were Christians too. Somebody says that Christians don't have long hair or listen to heavy metal - BOOM - I pull the Stryper out on them and the argument ends right there. Don't think I haven't had that conversation about 30 times in my life. My friend David Yougblood even caught one of the Bibles they threw out at a show once. It was totally awesome.

So...imagine how excited I would've been if the following clip had occured at MY high school. The best speaker we ever got was the guy that played Cooter on 'The Dukes of Hazard'. That was lame. This, however, would have been unbelievable:




Ladies and Gentlemen - may I present Stryper guitarist Oz Fox LIVE from the Home Economics room!

You Can Own Your Own Bank!

One of the best pieces of financial advice I got coming out of college was to join a credit union. A credit union is a financial institution that is owned by its members. Typically membership is based on you meeting some type of qualification - be it your employer, your religion, where you live, etc. The major advantage of a credit union is that, unlike a bank, they are not trying to make money for their shareholders. Since they are non-profit, they are able to offer better rates, lower fees, etc. AND - since you, as a member, are an owner, any dividends or income generated by the credit union is returned to you in the form of dividends.

I am currently a member of three credit unions - two from past employers and one (Pentagon Federal Credit Union) based on the fact that I'm a child of a military veteran. Currently we use a credit union to get life insurance for Britney but I've used it for all kinds of things in the past. Some offer services that you'd never find at a bank - like the one I once used to buy a car. I told the credit union what I wanted and they had a service that looked across the country for the best price on the car (including shipping it to me if that was involved) and then helped me arrange the purchase. Pretty cool service!

Finding a credit union that you qualify for (assuming your employer doesn't offer one) is easier than it used to be. FindACreditUnion.com has a search feature that allows you to enter some input about yourself to see which ones you could potentially qualify for. If you can't find one right off the bat, don't give up - I guarantee you that there's at least one or two out there that you can join based on your family members or where you grew up - something. Joining is easy - typically you just have to open an account and deposit a small amount and membership is usually for life. It's a great thing to do as it gives you options when it comes to loans and financial services and many times those options are better than you could find anywhere else!