Filed under: Finance, Internet, Features, Web services, Social Software, web 2.0

As you may have noticed, now might not precisely be the best day to get involved in the stock market. certain, year by year, chances are you’ll form money. But there’s a good chance that whether you throw a few thousand dollars into a mutual fund right now it might be worth less in 3 months than it is today. Fortunately, there’s more than one way to turn your savings into more savings. And thanks to the Net, a couple of new opportunities have developed by the last few years.

First up, you might want to take a look at online savings accounts and CDs. Since banks like ING Direct don’t have to spend a lot of money on bricks and mortar operations, they

can offer higher interest rates than many traditional banks. And even many old school banks offer online accounts with higher interest rates than their traditional offerings.

But thanks to the recent economic downturn, many of these banks are lowering their interest rates. While you could easily open an explanation with a 5% interest rate a few months ago, you’ll be lucky to find one by 3% now. whether you’re looking for another opportunity, albeit a riskier one, you might want to check out a new breed of financial transactions: social lending services like Prosper, Lending Club, or Zopa.

Continue reading How to manufacture, borrow, or lose money with P2P lending

Permalink | Email this | Comments

Orginal post by Brad Linder