Incorporated self-employment jumped 7% in the U.S. during the pandemic and has remained at that level through 2023. Last year, 400,000 more people incorporated their small businesses.   As more Americans swap full-time employment to pursue their passions, it’s crucial to understand retirement savings options so you can comfortably stop working when you’re ready.  Whether you’ve already transitioned to self-employment or are contemplating doing so, here are five self-employed retirement plans to consider.  Understanding self-employed retirement plans  Self-employment c ..read more

As you begin your academic journey, it is important to pay close attention to your finances. Managing your money effectively can make a significant difference in your college experience. A recent study conducted among college students found that most of them, specifically 66%, believe that inflation has negatively affected their financial well-being.  This means that as a student, you need to be extra cautious and mindful of your expenses. Besides creating a budget, getting a student credit card can be a valuable tool for building credit, handling unexpected expenses, and even earning re ..read more

SAN FRANCISCO, Calif. – March 26, 2024 – Prosper Marketplace, the first peer-to-peer lending platform in the United States, announced today that it has been honored with the prestigious Fintech Breakthrough Award for Best Peer-to-Peer Lending Platform in the Consumer Lending category. The award recognizes Prosper’s outstanding contribution to revolutionizing the lending industry through its innovative peer-to-peer lending model which has helped over 1.7 million consumers advance their financial well-being with more than $27 billion in loans. The Fintech Breakthrough Awards progr ..read more

Are you desperately looking for a way to lower your debt payments? Do you want exclusive access to loan forgiveness programs? If so, you could be the perfect target for a debt relief scam.  Debt relief scammers steal money and sensitive information by offering vulnerable consumers precisely what they want—quick, guaranteed relief from debt—and they’re relentless in spreading their message. The average American gets as many as six calls a month from scammers, and debt-related scams are amongst the top 20 incidents reported to the Federal Trade Commission (FTC).  So, how do you avoid ..read more

Today we are sharing performance data from the Prosper Portfolio for February 2024. Highlights from the Prosper Performance Update – February 2024: Average Loan Size in February increased by 0.6% month-over-month to $15,157 Weighted Average Borrower Rate for February originations was 18.0% Median Prosper loan to Income (PTI) monthly payment ratio for February remained steady month-over-month at 5.7% Portfolio insights and key charts can be found here: Prosper Performance Update – February 2024 The Prosper Performance Updates are designed to help our investor communit ..read more

There are lots of decisions to make when you’re buying a house. You have to choose which neighborhood you want to live in, which features are non-negotiable and what style of house you want—and that’s not even touching on finances.  You’ll also have to shop for a mortgage, which means your credit rating will also be a big part of the equation. If your scores are too low to qualify for good rates or a loan, you’ll need extra time to build them up before applying. What credit score do you need to buy a house?  There’s no set requirement for the minimum ​​credit score to buy a house, b ..read more

Self-employment is a growing trend in the U.S.; the U.S. Small Business Administration reports that over 27 million individuals own a business without any employees. But earning variable income makes it tricky to manage your finances, especially when you’re suddenly responsible for things like self-employment taxes and benefits.  However, with some preparation, you can smooth out those inconsistencies and create a financial plan that works for you and your business.   1. Create an emergency fund  Putting money into savings matters even more when you’re self-employed and ha ..read more

Achieving financial independence for women is more challenging due to gender-based wage gaps and lower levels of financial literacy.  On average, a woman earns 82 cents for every dollar a man earns. Despite this hurdle, women continue to narrow the wage gap by earning and investing more than they have in the past.  Are you ready to learn how to achieve financial independence as a woman? Here are 10 tips to guide you on your journey, accompanied by personal stories from real women who have already started on this path.  Learn the basics of personal finance  Mastering f ..read more

What do honey badgers and debt relief programs have in common? They both have innocent-sounding names but they can be surprisingly destructive! In fairness to the honey badger, however, those little carnivores probably won’t ruin your credit or get you into a lawsuit.  That’s right, debt relief programs can wreak a shocking amount of havoc on your finances. Despite what you may have heard or even assumed, there’s no guarantee a program will save you a single dollar on your debt. In fact, quite the opposite is true. Using a debt relief program can not only increase your debt but it can ca ..read more

For many Americans, tax season means facing an unpleasant reality – how to pay taxes you can’t cover in full. If you’re in this situation, you may be wondering if you should use a personal loan to pay taxes. But does taking on new debt truly make financial sense?   Read on to explore the pros and cons of using a loan to pay taxes and whether there are alternatives to help you pay what you owe Uncle Sam without piling on extra costs.  Can you use a personal loan for taxes?   Yes, you can use a personal loan to pay off your tax debt. When you take out a personal loan, t ..read more