Reduce Your Junk Mail, The Future of P2P Lending @ The Roundup

by Silicon Valley Blogger on March 30, 2008

Before I launch into my roundup I wanted to share with you a post I wrote that was just published at the Prosper blog, which carries a simple debt elimination tip. My message is this: if you want to reduce your debt, don’t get tempted to take it on in the first place! One way to avoid debt is by reducing your junk mail — the kind of mail which carries offers for credit cards and personal loans that you may find enticing enough to apply for. Here’s a list of steps you can take to reduce and avoid those loan offers altogether:

#1 Find out how your information gets around.
#2 Tell companies to quit peddling your information.
#3 Use services to help you delist your name from existing mailing lists.
#4 Refuse to accept the mail at your door.

Those credit card offers can be tempting to take — imagine getting hold of another $10,000 in credit! But you’ve survived thus far without it; do you really need the extra credit? I wouldn’t want this load on my back down the road.

Now on to some great reading material…

Personal Finance Reads

  • Get Rich Slowly: So you’ve made some financial mistakes; well don’t panic just yet! Just take a step back, assess the situation and consider J.D.’s tips.

  • Lazy Man and Money: What do you think about the future of P2P lending? Lazy Man speculates on what could be down the road for this social lending and investing niche.

  • Money Smart Life: The economic stimulus check is on its way to your mailbox. Here are some commonly asked questions and answers.

  • Gen X Finance: Jeremy poses an interesting question and wonders whether generation X should be “blamed” for our current real estate and mortgage quandary.

  • The Sun’s Financial Diary: Sun shares his personal experience with Scottrade’s customer service. I agree with Sun, I’d rather pay more for better service.

  • Five Cent Nickel:If you’ve got multiple accounts and are wondering how to manage a diversified portfolio, here are some guiding principles on how to maintain your asset allocation strategy.

  • Mighty Bargain Hunter: I’m glad I don’t have to worry about this anymore — but here are some great ideas to ease your commute.

  • No Credit Needed: NCN is prepping for his new baby! It’s an exciting time that somehow, I’m glad I don’t have to go through again… ;)

  • Consumerism Commentary: Could it be time to shop around for a house? Surveys are showing that on average, home prices have declined around 11% from a year ago.

Additional Readings

Recent Carnivals

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{ 7 comments… read them below or add one }

1 Louisville real estate March 30, 2008 at 6:22 pm

Thank God I am not tempted by credit card offers…I just give them to my 3 year old to play with! :)

2 Marsello March 30, 2008 at 6:55 pm

Good advice, I only carry 2 credit cards myself, VISA and Amex and use them both for the cashback and points only along with building my credit history.

3 Dividends4Life March 30, 2008 at 7:17 pm

Junk mail stolen from your mailbox can also be a source of identity theft.

Best Wishes,
D4L

4 Frugal Dad March 31, 2008 at 6:27 am

Temptation from credit card offers and catalogs is reason enough to put an end to the junk mail. It is always amusing how many people find they “need” something only after seeing advertised in a newspaper circular.

5 Working Dollar March 31, 2008 at 7:50 am

Most junk mail I get ends up being credit card offers – and Lifelock helps me eliminate that problem.

6 jim April 1, 2008 at 8:17 am

@WorkingDollar: optoutprescreen.com is free, all lifelock does it call up the credit bureaus and request a freeze on your account every 90 days (or 180, I forget), just an FYI.

Personally, I never apply for anything unless I request it myself. By this I mean, if someone offers me something, I generally ignore it. It’s only when I request information do I ever take action… so all credit solicitations go in the recycling bin after shredding.

7 Ron@TheWisdomJournal April 4, 2008 at 1:34 am

Thanks for the link!

Credit card companies keep increasing my limits without even asking. It seems like, as I get them paid off, they’re in a panic that I might not use them anymore. I think they keep increasing the limit hoping that there’s something expensive I’ve been waiting to buy.

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