Tuesday, April 22, 2008

"Found" money, Proper update

So I "found" my dental reimbursement check 8 months after it was cut. It's not a big check or anything, but I didn't know about it, and I've lived without it for 8 months. I called my dental insurance company to have it reissued. I'll probably skim $50 off the top and send it to prosper and put the rest towards my consumer debt. It's always nice to "find" money!

Speaking of prosper, my third loan that was in verification status is finally completed. I now have three loans that I put $50 in originally. The average rate of all my loans now is 18.81%. As I've said before, I'm expecting this to give me $0.50 increase in my monthly passive income cash flow. Why only $0.50? I don't put into account the money I am getting back as that's my principal that I put in. So I'm only approximating the interest. As for the money that I have returned in my account, it's sitting at just under $22.00. So once that hits $50, the minimum to bid, I will bid on another loan, effectively creating a compound interest scenario for myself. I am keeping track of the money I am putting in, so I can see what type of actual return I am getting after fees and service charges.

Nothing else new here.

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