I have been using Lending Club since 2009 to try to make the best return on my investment. I have been able to easily beat bank savings accounts, and can often beat the stock market. My current annual return is 11.63%. Here’s how I do it and how you can do it too.
I have written about using the debt snowball to cut your debt and I have written about using social lending to make money like a bank. Today we are going to combine the snowball idea with social lending to show you how I have been making money and reinvesting to make money.
P2P lending is making big changes in the world of lending and banking. Peer to peer lending, for those who don’t know, is a lending situation that removes the bank. It is people lending to people. I am a huge proponent of P2P lending as an investment option to help diversify your portfolio.