Throwing In My Lot With Prosper

Despite the title of this post, this isn’t really a post so much about Prosper as it is about my financial situation. Back in April (before declaring my financial resolution), I put $400 onto Prosper, spread out over six loans. Recently, I added the first batch of money made from mowing lawns this summer, another $170, and, along with the amount I’d received back from my first loans, bid on a few more loans. I’m happy to say that yesterday I told prosper to take another $351.20, the combined total of my recent mowing money and two cashed savings bonds I got when I was young.

So, how do I feel, now that I will have almost $1,000 on Prosper? Pretty good, actually, but I’ve already talked about the pros and cons of Prosper. Today, what’s been on my mind has been my reasoning for doing it.

If by now you haven’t thought that this all sounds a bit like a little kid playing with a piggy bank,  then you’re miles behind me. My birthday-to-birthday/New Year’s resolution to roughly double my savings by January 15th was certainly reasonable and I’m well on my way (arguably, there, but I’ll save the technicalities for another day). To be sure, I’ve done quite a bit: I saved lots, and, doing some quick math, $921.20 at about 11% per year, is just about $101 dollars.

Still, it’s not hard to see that I could have done a lot more. My $2,000 goal is less then half what I could have made if I’d found a 35 hour a week job making minimum wage. On top of that, I can’t deny the role the bank of mom and dad played in me being able to save anything. So, what have I really accomplished?

I’m not sure yet. I think I’ve established some good habits, but I’m not sure I’ve gotten to the core of the problem. Right now, I have a lot of question marks about how to proceed next summer, and lots of options to weigh between now and then.

Now, a quick round up of other places I’ve gotten money before I go: $200? Near there. $57 (in four to six weeks)
Selling stuff on Craigslist: $40 (about)
Secret project my father and I have brewing: Well, quite a lot, perhaps, maybe even enough to make me forget any worries about this, but it depends a lot on whether a certain college football coach says a certain phrase again. In other words, I’m not holding my breath.


One Response to “Throwing In My Lot With Prosper”

  1. Fat Man Says:

    On the positive side the un-named caoch talks a lot so the chance are greatly imporved.

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