The Hard Working Dollar Weekly Roundup 08/09/09 – 08/15/09

This past week was a pretty slow one as far as posts, news and capital markets go.  My view is that despite the fact that summer is about  a month from being over, people are getting more into the fall mindset.

The following articles were published last week (oldest posts first):

1. 5 Ways To Save Money In This Economy
   Over the last year, lots of people have said that saving money in this economy is difficult, if not impossible. However, there are several small things you can do to make it easier for you to save.
2. Hard Working Deals 08/11/09
   Hard Working Deals: A collection of product and travel deals from around the web.
   Highlights:
   DSW.com – $10 off $49 Purchase or Free Shipping
   Home Depot – Clearance Sale: 20% to 50% off Select Items
   $499 — Ireland: 6 nights in B&Bs & castle with air
3. Cutbacks in the Kitchen
   As times have gotten tougher over the last year Americans have been spending less and less on groceries.
4. Subscribe To This Blog
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(Image Source: Flickr user Flow Design Studio)

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Cutbacks in the Kitchen

As times have gotten tougher over the last year or more, Americans have been spending less and less on groceries.  Below is an infographic that breaks down how people are spending (or not spending) money on food.

Click image to view full size version.

For more budgeting and investment info visit Mint.com

(Image Source: Flickr user Snook Photograph)

News: Rare Video of Billionaire Paul Tudor Jones Surfaces

Paul Tudor Jones circa 1980s. Notice the message on the wall.

This video is a documentary by PBS which was done in 1987 and is entitled ‘Trader: The Documentary’ (split up into multiple parts).  It follows the daily life of a young Paul Tudor Jones, who is now a billionaire commodity trader.

This video has been extremely hard to find and those possessing a precious copy guard it with their life and/or sell it on eBay for hundreds if not thousands of dollars.

Without further ado I present the video below.

Image Source: Google Image Search

The Dow Tops 9,000 for First Time Since January

The Dow has reached the strongest point since January after a more than 2% intraday gain.  Read the rest of the story at Bloomberg.

Image Source: Flickr user Liz_Lomax

Also, I love this picture.

Woot Off going on right now at woot.com

Prosper Peer-to-Peer Lending is Back!

After months of wondering whether I would be able to lend at Prosper again, they have finally emerged from the Security Exchange Commission’s mandated quiet period, and they look to be a much stronger company as a result.

Here is a quote from the Prosper blog:

Finally… the moment we and so many supportive and loyal Prosper community members have been waiting for… after nine long months of navigating the rapidly changing regulatory landscape, we are thrilled to announce that Prosper’s registration statement with the SEC has been declared effective. Prosper lenders can once again invest directly in fellow Americans and small businesses!

Two new features that I am excited about are 1) the ability to trade loan notes and 2) the new Prosper borrower rating system which has a minimum borrower credit score of 640.

The only downside is that Prosper hasn’t yet completed the registration process for all states yet.  For the list of states where Prosper is open to lenders and borrowers click here.

Read the rest of the blog post here: Prosper is Back! We mean it this time.

Note:  Prosper is a service that I’ve used for years and I don’t receive any compensation or other perks for mentioning them here.  I have included a screen shot of my current annual percentage yield and loan statuses as proof that if done right peer-to-peer (p2p) lending is a reasonable alternative to the APYs offered by traditional investments.  Also, I would not consider Prosper a means for saving money, simply because your loan notes aren’t FDIC insured.  Finally, if you have questions about my experience with Prosper don’t hesitate to send them to me.

(Feature Image Source: Flickr user Annique)

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]]> http://thehardworkingdollar.com/2009/07/21/prosper-peer-to-peer-lending-is-back/feed/ 0 http://thehardworkingdollar.com/2009/07/20/news-the-federal-reserves-plan-to-avoid-inflation/ http://thehardworkingdollar.com/2009/07/20/news-the-federal-reserves-plan-to-avoid-inflation/#comments Tue, 21 Jul 2009 01:20:34 +0000 A.L.K. http://thehardworkingdollar.com/?p=90

The Federal Reserve’s Plan To Avoid Inflation

Today the Wall Street Journal published an article written by Federal Reserve Chairman Ben Bernanke, which details how the Federal Open Market Committee plans on controlling the amount of inflation experienced once the United States begins its economic recovery.

In my own opinion the most important statement is when Bernanke says the following:

At some point, however, as economic recovery takes hold, we will need to tighten monetary policy to prevent the emergence of an inflation problem down the road.

My take away from the article is that Bernanke is aware of the fact that inflation will be a major concern in the future due to the amount of money currently in circulation and hopes to control the amount of inflation using monetary policy.  While I cannot say how affective his efforts will be, I am curious to see how the events unfold.  Read the rest of the article at the Wall Street Journal Website.

Image Source: Flickr user  Eric_Landstrom