Listen Money Matters - Free Your Inner Financial Badass. All The Stuff You Should Know About Personal Finance.

We check in with Andrew’s Lending Club strategy to find out if he’s making any money and if it might be a good investment for the rest of us. Lending Club is a peer-to-peer lending company.  If you need a loan, rather than going through a bank, you make a pitch and a pool of hundreds of people will lend you the money.  Kind of like crowdsourcing for a loan.  The interest rate you’re charged will be lower than what most banks would offer. And the return for the lenders can be high. On Lending Club, your interest rate will range depending on the letter grade you are assigned which denotes how risky you are.  If you apply and are honest on your application, you are almost certain to get a loan.  For the lender, you can allow Lending Club to loan out your money based on your set criteria or you can hand pick the loans you want to make.  If you hand pick, you will be privy to a lot of information about the borrower, job, where they live, if they rent or own a home, etc. Andrew has $2700 invested and to date his