Comments on: My Five Favorite Financial Products http://www.moneyunder30.com/favorite-financial-products Personal Finance for the Young and Ambitious Sat, 21 Nov 2009 04:23:03 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: M.Wanzer http://www.moneyunder30.com/favorite-financial-products/comment-page-1#comment-2671 M.Wanzer Thu, 09 Jul 2009 15:56:44 +0000 http://www.moneyunder30.com/?p=2223#comment-2671 I have still been pretty skeptical of the whole online money management. I signed up for Yodalee (spelling?) once and I liked it, even though some of my accounts were with institutions (mainly credit unions) that weren't compatiable with their framework. My main concerin is security. I am a software developer and I know what most developers know, no system is TRULY secure, having all of my account numbers, pin numbers, online passwords, etc, stored in one location that I have absolutely no control over just rubs me the wrong way. The charge card sounds good, but I still don't know about the fee. I mean there are cards out there that offer rewards and don't charge a fee, but you do have to have a lot of discipline to pay them off without going into crazy debt. I really want to investigate that Lending Club one though, that sounds pretty cool I have still been pretty skeptical of the whole online money management. I signed up for Yodalee (spelling?) once and I liked it, even though some of my accounts were with institutions (mainly credit unions) that weren’t compatiable with their framework. My main concerin is security. I am a software developer and I know what most developers know, no system is TRULY secure, having all of my account numbers, pin numbers, online passwords, etc, stored in one location that I have absolutely no control over just rubs me the wrong way.

The charge card sounds good, but I still don’t know about the fee. I mean there are cards out there that offer rewards and don’t charge a fee, but you do have to have a lot of discipline to pay them off without going into crazy debt.

I really want to investigate that Lending Club one though, that sounds pretty cool

]]> By: Scott Lovingood http://www.moneyunder30.com/favorite-financial-products/comment-page-1#comment-2669 Scott Lovingood Tue, 07 Jul 2009 19:13:13 +0000 http://www.moneyunder30.com/?p=2223#comment-2669 I love CreditKarma. I think it is probably the coolest tool you mention. I use quickbooks because of my business but agree that some type of accounting system is needed for everyone. I still use a credit card with no fees. I pay off the balance every month and get cash back as well. I have looked at Ing but just not taken the time to move my accounts. I do need the ability to deposit cash at times though which makes it a less than perfect answer. My experiences with Prosper were not good so I have stayed away from Lendingclub. I do have a private loan to a local business at 9% though which is similar but in this case, I know the owners, know the business and have a good idea of the success they have had. Maybe someone needs to create a lending club just for business that goes to a higher limit than 25,000. That may be good for a small start up but many companies today are looking for larger amounts of capital. I love CreditKarma. I think it is probably the coolest tool you mention.

I use quickbooks because of my business but agree that some type of accounting system is needed for everyone.

I still use a credit card with no fees. I pay off the balance every month and get cash back as well.

I have looked at Ing but just not taken the time to move my accounts. I do need the ability to deposit cash at times though which makes it a less than perfect answer.

My experiences with Prosper were not good so I have stayed away from Lendingclub. I do have a private loan to a local business at 9% though which is similar but in this case, I know the owners, know the business and have a good idea of the success they have had.

Maybe someone needs to create a lending club just for business that goes to a higher limit than 25,000. That may be good for a small start up but many companies today are looking for larger amounts of capital.

]]> By: NoBankHere http://www.moneyunder30.com/favorite-financial-products/comment-page-1#comment-2668 NoBankHere Tue, 07 Jul 2009 19:00:16 +0000 http://www.moneyunder30.com/?p=2223#comment-2668 i use 3 of the 5 products you mentioned here... All 3 are very revolutionary products that add value beyond your conventional products. I love CreditKarma. They made credit score tracking as easy as checking your social networks. Love it. LendingClub is rad! i can't believe I'm making 8% after a full year. Investing in other people's loans makes complete sense. Why earn 2% at the bank (at most) when you can decide who gets your money and earn 8-10%? And ING electric orange is really da bomb! I love how they added unique features that you won't get at other banks. i use 3 of the 5 products you mentioned here… All 3 are very revolutionary products that add value beyond your conventional products.
I love CreditKarma. They made credit score tracking as easy as checking your social networks. Love it.
LendingClub is rad! i can’t believe I’m making 8% after a full year. Investing in other people’s loans makes complete sense. Why earn 2% at the bank (at most) when you can decide who gets your money and earn 8-10%?
And ING electric orange is really da bomb! I love how they added unique features that you won’t get at other banks.

]]> By: Live for Improvement http://www.moneyunder30.com/favorite-financial-products/comment-page-1#comment-2670 Live for Improvement Tue, 07 Jul 2009 15:49:49 +0000 http://www.moneyunder30.com/?p=2223#comment-2670 Thank you for the recap on some good financial tools. I am going to check out Credit Karma now, it sounds interesting. -Dan Malone- Thank you for the recap on some good financial tools. I am going to check out Credit Karma now, it sounds interesting.

-Dan Malone-

]]>