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Featured Article Keep Expenses Low for when the Hard Times HitIn today’s economy, many people are suffering. We purchase items like cars and homes that we cannot afford. This spells trouble for many of us should we lose our jobs, or become ill, and unable to work. Due to our spending habits, this doesn’t just happen to low-income workers, but even to those making over [...] |
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Shop Around for Medical Procedures with PriceDoc.com
If you need to have a medical, vision or dental procedure it’s always a good idea to shop around because we all know healthcare is very expensive. One service that makes this easy is PriceDoc.com. PriceDoc.com is an online marketplace that connects consumers with healthcare providers.
PriceDoc.com allows consumers to easily compare and negotiate pricing for medical, dental and vision procedures in a specified location in the United Sates while providers benefit from getting new patients who are willing to pay directly, out of pocket to the provider for their services.
Procedures listed on the PriceDoc.com include the following:
- Dental (teeth cleaning, crowns, fillings, braces, whitening, etc.)
- Common and preventative medical procedures (physicals, mammograms, vaccines, x-rays, etc.)
- Vision (glasses, contacts, LASIK surgery, eye exams, etc.)
- Cosmetic (liposuction, breast enhancement, Botox, face lift, etc.)
- Weight loss (dieticians, nutritionists, etc.)
- Chiropractic (back and neck pain, arthritis, soreness, sports injuries, etc.)
- General well-being (acupuncture, hearing aids, physical therapy, massages, etc.)
PriceDoc.com makes it easy to match patients and doctors by:
- Locating and reviewing providers in your area
- Optimizing office scheduling and management
- Comparing cost for office visits and procedures
- Finding competitive pricing for best case healthcare
Within the web site you can “Make Offer” and “Name Your Price”, which allows consumers to negotiate with providers the cost of their procedures.
For more information visit PriceDoc.
Save Money on Prescription Medications with BidRx.com
If you want to save money on your prescription medications then you must consider BidRx.com. BidRx will save you money (up to 50%) on any drug by having pharmacies and pharmaceutical companies from across the country bid on gaining your business. If you need your prescription immediately, you can search for locations close to your home.
I searched for one drug on BidRx and found pharmacies selling the same drug at ½ the price with free shipping compared to my local Walmart Pharmacy.
BidRx only allows reputable U.S. pharmacies to participate in their program. Signing up to BidRx is simple and free. The website is extremely easy to use. For more information visit BidRx.com.
What is Daylight Saving Time?
Twice per year most people in the U.S. have to change their clocks. But most people have no idea why. Below is a very good video explanation of daylight savings time.
Credit Repair, Personal Loans, Debt Reduction Education
A new “Education” section has been added to Money-Cake.com to help people looking for information about Credit Repair, Personal Loans and Debt Reduction. Each Section includes:
Make Money Online With Affiliate Marketing
The top 4 things I absolutely love about making money online are:
- You can automate your business. There is no need to man it. It’s not like a brick-and-mortar business where you have to be there 8 hours per day. Your website is your employee and does all the work. You can literally make money while you sleep.
- You can be mobile. You can live and travel anywhere in the world as long as you have an Internet connection. I’ve been on vacation in Jamaica where I conducted business via the Internet.
- You can try things fairly quickly and inexpensively. If you have an idea, its extremely cheap and easy to develop a website and then pay a small amount of money to drive traffic to it to determine if you can convert visitors into making you money.
- You can sell and market products/services you don’t own via drop shipping and affiliate marketing. There is no need to buy inventory, find space to store it and the pray you can sell it!.
One of the fastest ways to make money online is affiliate marketing. Affiliate Marketing is promoting products or services that you don’t own for a commission. You register with an Affiliate Company to get an account, which gives you access to hyper-links (via text or banners) to products/services. You take a link and place it out in the Internet world (via e-mail, website / landing page, paid advertising) to send traffic to your advertiser. When an action is taken (sale or lead generated), you get paid a commission. It’s that simple, but not easy because it involves a lot of trial-and-error!
Some of the top affiliate companies include Commission Junction (CJ), AzoogleAds, ClickBank, PepperJam Network and Sharesale. However, there are many other mid to smaller affiliate companies, but these are the ones I use the most.
As stated, the beauty with affiliate marketing is that you don’t have to own anything. As a matter-a-fact, you don’t even have to own a website. One of my most successful affiliate marketing campaign was marketing products via paid advertising where I sent traffic directly to the advertiser’s website. However, now this strategy is rare. Most advertisers want you to send traffic from another website and not directly from paid ads.
High traffic Blogs do very well with affiliate marketing because they don’t pay for any traffic. All traffic is free, so they keep all earnings via affiliate links embedded in their blog posts. Blog owners with high traffic usually have loyal followers / readers who will purchase products/services that they recommend. I know of blog owners making $30,000+ per month with this strategy!
Below is a screen shot from one of my affiliate accounts where I have grossed $33,304.00 YTD. Most of the traffic is from paid advertising, so there is cost in generating this amount. However, the profit margin is pretty decent.
The thing I like about generating 33,304.00 is that it’s pretty much on auto-pilot. After setting up the campaigns, I do very little but monitor and make adjustments. Weeks may pass where I don’t even touch a campaign where I literally make money while I’m sleeping.
However, please don’t be too impressed with the gross earnings because it’s nothing compared to some Internet Markets who make this amount in a month or less. As a matter-a-fact I’m very disappointed that I haven’t done better. As you can see from the screen shot, in Q1 I generated $14,738.76 but in Q2 it dropped to $10,148.29 and dropped again to $8,416.95 in Q3, which was very disappointing!
If you are interested in learning more about affiliate marketing, there a many blogs ran by Affiliate Marketers with articles on how they make money via affiliate marketing. There are also many people selling training programs on affiliate marketing that can get you up to speed quickly. However, if you are diligent, you can find most of the information for free on the Internet. Just Google “Affiliate Marketing” and you’ll be presented with an abundance of free information. This is another thing I absolutely love about the Internet. There is so much free information on the Internet that, if you are smart and highly motivated, you can exploit to make money!
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Getting Back in Shape with P90X
Last summer (2010), I weighed 210 lbs. and hated it. After being ill, losing weight, given medication and ordered not to exercise (except light cardio) I was at my heaviest. So last summer I decided to get in shape and lose weight. I had a goal to get down to 185 lbs. in 3 months but failed miserably. At the end of 3 months I weighed pretty much the same because I didn’t exercise consistently and didn’t stick to a diet.
A few months ago I had lunch with an old colleague and was amazed at how much weight he lost. He looked great after losing 50 lbs. He told me purchased an exercise / diet program named P90X. P90X is a 90 days total-body exercise program on DVDs that you follow at home to whip you back in shape. All you need are some weights or resistance bands, pull-up bar that can attach to a door way and a Yoga mat.
A few weeks later I read Pat Flynn’s Blog, Smart Passive Income, and he too got back in shape after using P90X. I was impressed and convinced that P90X would be a good program to help get me back in shape. I purchased P90X for $69 with a pull up bar for $19 from Buy.com and eagerly awaited arrival to get started. (Disclaimer: If you purchase P90X and/or the pull-up bar using the links I will earn a small commission. Thank you!)
The Beginning of P90X
The first 2 weeks of P90X was brutal. After each exercise I was absolutely exhausted and would remain exhausted for the rest of the day. I felt as if I ran a marathon. The cardio exercises I couldn’t keep up with. I’d have to pause the DVD and lay down for a few minutes to get my heart rate down. I was definitely out of shape. However, after 2 weeks I was able to keep up without feeling completed exhausted for the rest of the day. The most difficult parts of the resistance training are the pull-ups and the abs exercises which I still struggle with.
Five Weeks Later
Five weeks later after working out 6 days per week for 1 to 1-1/4 hours and changing my diet I saw little improvement. P90X included a book on how to diet, but I didn’t follow it. I basically ate low fat – healthy meals, reduced my portions, stop drinking soda and artificial fruit juices, drank more water, stopped snacking, ate more fruits and vegetables and stopped eating after 9 PM. I knew that most likely the reason I saw no reduction in weight was because I put on muscle which offset the fat I was losing. Also, I felt if I stuck to a really strict diet I would have lost weight.
However, I still grew frustrated that the results weren’t coming quickly. I called my old colleague who lost 50 lbs. and he told me the same thing happed to him. The first few weeks he too didn’t lose much weight, which made me feel a little better. I also expressed to him that I absolutely hated Yoga. A part of the P90X program is Yoga once or twice per week which I didn’t like. It was too long and I didn’t like getting up and down from the floor and trying to get into different award positions. My old colleague told me he too felt the same way and skipped Yoga and substituted it with the cardio exercises. I agreed that was a great idea and from then on substituted Yoga for the cardio exercises.
90 Days Later
Soon after 5 weeks my weight started dropping. It seems as if for weeks I wouldn’t lose any weight then over a few days I’d drop a few pounds. I learned losing weight isn’t a linear process. As I began to lose weight I grew more excited. Most of my weight was in my stomach and could see and feel my stomach getting smaller.
My goal was to lose 23 lbs., going from 208 lbs. to 185 lbs in 13 weeks. I wanted to look trim and fit and not necessarily put on a lot of muscle which I knew I wouldn’t maintain.
The Results so Far
After 13 weeks of P90X, which is the length of the program I am now 192 lbs. I’ve lost 16 lbs. and my waist has shrunk 3 inches which is a huge difference. My pants and shorts that were too tight or couldn’t fit, I can now wear. I’m currently continuing the P90X for another 13 weeks with the goal of hitting 185 lbs. After, I still plan on continuing P90X but I will mix-it up with weight-training at the gym, playing racquetball and swimming.
Below are my before and after pictures:
Before and After Front
Before and After Rear
Before and After Side
My Equipment for P90X
Lessons Learned
The things I’ve learned thus far are as follows:
- Working out at home is far more convenient than working out at the gym.
- Following an exercise program is great because you don’t have to wonder what to do next.
- Losing weight isn’t a linear.
- Losing weight is very hard work.
- Getting back into shape is all about consistency.
Lending Club vs. Prosper – The Top 2 Social Lenders
The two biggest players in Social Lending (also known as Peer-to-Peer Lending) are Lending Club and Prosper. If you are seeking to invest in Social Lending, you may wonder what the differences are with both companies.
But first if you are not familiar with Social Lending, Social Lending are online communities connecting people so they can loan and borrow money from each other thus eliminating the middle man, the bank. Because the bank is eliminated, lenders and borrowers can lend and borrow money at better interest rates for both parties with extremely low fees.
Major Differences Between Lending Club and Prosper
Both Lending Club and Prosper are now very similar. In the past Prosper used an eBay auction style where the interest rates are set by lenders via a bidding process. Lending Club sets the interest rate based on a formula and lenders and borrowers have to accept the rate. There is no bidding.
Prosper decided to change their business model and now operate just like Lending Club. Now Prosper sets the interest rate and loan grade based on a formula which takes into account Prosper Rating, Expected Loss Rate, Loan Term, Economic Environment and Competitive Environment.
Lending Club sets interest rates for the borrower and lender based on the borrower’s credit score and other financial parameters. A loan grade is then established which takes into consideration Assumed Default Rate, Lending Club Base Rate, and Adjustment for Risk and Volatility.
Investing at Lending Club
Since Lending Club started in mid 2007, the net average annualized return for investors has been over 9.5%. That is a fantastic rate of return! Lending Club average borrower has a FICO score of 713. The required minimum FICO score is 660. Individuals and organizations can be lenders. Lenders invest in loans called “notes”. (Note: Currently Lending Club is offering a 2% Cash Bonus on your initial investments.)
Requirements to becoming a Lending Club Investor:
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Must be U.S. residents of states where Lending Club does business which includes California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Kentucky, Louisiana, Maine, Minnesota, Missouri, Mississippi, Montana, New Hampshire, Nevada, New York, Rhode Island, South Carolina, South Dakota, Utah, Virginia, Washington, Wisconsin, West Virginia, and Wyoming, and is not available or sold to residents of any other state, the District of Columbia, any other territory or possession of the United States, or any foreign country.).
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Must have a bank account to transfer money to bid on loans.
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Must be at least 18 years old with a valid Social Security Number.
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A minimum of $25 is required to open an account.
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Individual lenders who are residents of states other than California or Kentucky must have an annual gross income of at least $70,000 and a net worth (exclusive of home, home furnishings and automobile) of at least $70,000; or have a net worth of at least $250,000 (determined with the same exclusions).
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California residents must (a) have an annual gross income of at least $85,000 and a net worth of at least $85,000 (exclusive of home, home furnishings and automobile); (b) have a net worth of at least $200,000 (determined with the same exclusions); or agree not to invest any more than $2,500 in Notes if you do not meet either of the tests set forth in (a) or (b).
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If you reside in Kentucky, you must qualify as an “Accredited Investor”. See website for further details.
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Lastly, regardless of your state of residence, individuals may not purchase Notes in an amount in excess of 10% of their net worth, determined exclusive of the value of an individuals home, home furnishings and automobile.
Borrowing at Lending Club
Lending Club is very selective with accepting borrowers. Borrowers at Lending Club get loans for a variety of reasons (paying off credit card debt, purchasing a car, consolidation of debt, education, home improvement projects, wedding, small business, elective surgery, balance transfers, etc..)
All Lending Club loans are:
Unsecured 3-year (36 months) or 5-year (60 months) fully amortized personal loans.
Have a fixed interest rate for the life of the loan and is typically lower than rates offered by credit cards and banks.
Monthly payments are fixed, and can be automatically deducted from the borrower’s bank account.
Borrowers can pay the loan in full early with no penalty.
No hidden fees
To qualify borrowers need a FICO score of at least 660 with a debt-to-income ratio (excluding mortgage) below 25%. Additionally, credit history must prove that you are a responsible borrower:
At least 1 year of credit history, showing no current delinquencies, recent bankruptcies (7 years), open tax liens, charge-offs or non-medical collections account in the past 12 months,
No more than 10 inquiries on your credit report in the last 6 months,
A revolving credit utilization of less than 100%, and
More than 3 accounts in your credit report, of which more than 2 are currently open.
Must be US citizens or permanent residents and at least 18 years old.
Have a valid bank account and social security numbers
Loans are issued by WebBank, an FDIC insured Utah chartered industrial bank located in Salt Lake City, Utah.
Investing at Prosper
Prosper Investors invest their money directly to people. Prosper charges a 1% annual loan servicing fee which is already taken into account in the rate investors bid on. Investors have access to each borrower’s credit history and why they want the loan. Prosper rates borrowers which help investors make informed decisions. Additionally, Prosper offers investors portfolio pans to help with automating the bidding process. (Note: Currently Prosper is offering a 2% Cash Bonus on your initial investments.)
Requirements to becoming a Prosper Investor:
Must be U.S. residents of states where Prosper is currently available (California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Louisiana, Maine, Minnesota, Missouri, Montana, Nevada, New Hampshire, New York, Oregon, Rhode Island, South Carolina, South Dakota, Utah, Virginia, Washington, Wisconsin and Wyoming.)
Must have a bank account to transfer money to bid on loans
A minimum of $25 is required to open an account
All Prosper loans are:
Unsecured 1-year, 3-year and 5-year fully amortized personal loans.
Have a fixed interest rate for the life of the loan and won’t change for any reason, even in the event of late payment.
Monthly payments are fixed, and can be automatically deducted from the borrower’s bank account.
For finalized loans there’s a one-time closing fee.
Borrowers can pay the loan in full early with no penalty.
There are three ways to invest:
- Search for individual loans and manually invest by clicking “Invest Now” from any loan
- Use Quick Invest
- Invest in Notes on Prosper’s trading platform
Quick Invest allows you to efficiently invest in a group of loans. You specify the Prosper Rating and any other selection criteria and Quick Invest will find loans that meet your criteria, so you maintain control of your investments. A diversified loan portfolio may enable you to spread your risk among many borrowers, so consider investing in small amounts across many loans.
Borrowing at Prosper
If you are looking for a personal loan, Prosper can get you a loan via person-to-person lending, eliminating the bank. If you are looking to buy a car, consolidate debt, pay for education, have a wedding, remodel your kitchen, etc., Prosper is a place to get a fixed rate loan with a very competitive interest rate.
All Prosper loans are:
- Unsecured 3-year fully amortized personal loans.
- Have a fixed interest rate for the life of the loan and won’t change for any reason, even in the event of late payment.
- Monthly payments are fixed, and can be automatically deducted from the borrower’s bank account.
- For finalized loans there’s a one-time closing fee.
- Borrowers can pay the loan in full early with no penalty.
Risks for Investors
Unlike a bank, when you invest in loans, your money is not FDIC insured. Only when your money is in cash in your account is it FDIC insured by both Lending Club and Prosper. Keep in mind this is investing and not a savings account. There are risks involved. The main risk is for lenders having borrowers who default on their loan.
For more information visit Lending Club and Prosper. Currently Lending Club is offering a 2% Cash Bonus and Prosper is also offering a 2% Cash Bonus on your initial investments.
Related Articles:
- Earn a High Interest Rate with Lending Club P2P Loans
- Need a Loan? Get a Low Interest Loan from Lending Club
- Social Lending Networks are Booming
- My Lending Club Account Performance Update 5
