Zopa and prosper are good ideas... you're right, they basically split the difference between the high interest rates borrowers are usually already paying on their credit cards and the low interest lenders are usually already making in their bank accounts. It's a fine deal for both parties, financially, and if I were sure I wasn't remodeling the kitchen soon, I'd consider a Zopa CD as a temporary home for that money. It just doesn't seem as rewarding... plus, the actual amount of money required to significantly help a person in a first-world country is huge. I don't see the Kiva folks as charity cases either, actually -- they are people with business plans and a customer base, and I respect them. They're small-scale, though, and that makes them easier to help.
Even so... as someone who grew up poor in a first-world country, I hate to think I'm not doing things to help people who are basically like I was. Maybe that's part of my issue with most of the Zopa/Prosper stuff... I never got myself in credit card debt with my Xmas shopping, so I feel rather less sympathy.
That said, if you get a prosper loan, do let me know how it goes. It is interesting. :)
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branchandroot
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Date: 2008-05-06 02:38 am (UTC)Even so... as someone who grew up poor in a first-world country, I hate to think I'm not doing things to help people who are basically like I was. Maybe that's part of my issue with most of the Zopa/Prosper stuff... I never got myself in credit card debt with my Xmas shopping, so I feel rather less sympathy.
That said, if you get a prosper loan, do let me know how it goes. It is interesting. :)