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Peer to peer lending is trying to re-establish the FFA(Family, Friends, Acquaintance) finance connection. Many a person, Richard Branson of Virgin for one has received the startup money for their business venture; down payment on a home/vehicle; or just to get by money from an FFA. In a perfect world, all the deals done using the FFA model would work and everyone walks away smiling….the reality is that ISH happens. When it does, money issues can strain even the tightest of relationships. This is one of the reasons the traditional banking method has become so common. If you don’t repay a loan to the bank your credit will be damaged…but at least you won’t have to see your banker at the next family function.
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Get it While the Getting is Good |
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I hope everybody’s been paying attention to the current state of the economy. If you listen to Wall Street or Fox News you’ll think that we’re headed into the great depression 2007. I’m no expert on the specifics of macro economic theory as it applies to the western hemisphere, but I’ve had enough classes to know that things are about to change, specifically when it comes to borrowing money and your cost to borrow money.
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Do I need it?
Exercise control!
Be smart!
Time is money; can I pay it back soon?
OK, I’m here to give it too you straight, credit cards can be trouble. If your not careful they can cost you more money and headaches than you ever bargained for.
If you’re reading this section there’s a good chance that you already have a credit card or have some sort of credit card history
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If the thought of interpreting your Credit Report frightens you then welcome to the majority of Americans. Personal Credit can be a complex and frustrating topic to tackle, especially if you don’t have accurate information to assist you. As intimidating as it can be it is something you need to be competent of if you want to gain wealth, reduce stress and receive preferred interest and insurance rates.
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Credit & Borrowing 