Festival of Frugality #295 – Social Lending Edition

Welcome to the 295th Festival of Frugality! After recently moving to California, I’ve been on a social lending kick. I signed up for an IRA with Lending Club and if your state allows it, I encourage you to check it out!

Intertwined with the festival, I’ll be giving some social lending statistics that you may have not been aware of.

My Top Picks

Since May 1st, 2007, the DJIA is down 13%. Over the same time period, Lending Club loans have earned a Net Annualized Return of 9.64%.

Squirrelers presents Squirreling Gone Wild#28: Amusement Park Shenanigans posted at Squirrelers.

There comes a point where frugality goes to far and it turns ugly. Do you think this amusement park adventure crossed the line?

Dough Roller presents When Does Frugality Turn Into Cheapness? posted at Dough Roller.

Most people are frugal because they are lazy. Some people who can’t handle traditional frugality turn into cheapskates!

Jonathan presents Save Thousands: Learn to Haggle with Car Dealers posted at Deliver Away Debt.

I just bought a used car recently and I wish I had this guide to show me the ropes instead of heading in to the car dealers blindly!

Flexo presents How to Hedge Against Gasoline Price Increases posted at Consumerism Commentary.

With gas prices seemingly constantly climbing, Flexo gives us a few ways to hedge our bets so that the increases don’t hurt our wallets quite as hard.

Harri Pierce presents The secret to flirting for freebies posted at TotallyMoney.

It turns out that flirting your way to free stuff isn’t just for the well-endowed women these days. All you need is a little charm!

Truly Frugal

Over 91% of Lending Club investors with 800+ notes earn returns between 6% and 18%.

Briana presents 7 Ways to Become a More Frugal Family posted at Stupid Cents.

Philip Taylor presents How to Have a Garage Sale and Price Your Items posted at PT Money Personal Finance.

Melissa presents Why Didn’t I Shop at Costco Earlier? posted at Mom’s Plans.

Jenna presents 5 Ways to Live Below Your Means posted at Adaptu.

Miss T. presents 15 Ways to Reduce Energy Costs posted at Prairie Eco Thrifter.

Fanny presents Why You Need a Grocery Price Book posted at Living Richly on a Budget.

Glen Craig presents Alternative College Housing Options to Save Money posted at Free From Broke.

Money Management

Less than 10% of loan requests submitted to Lending Club are approved.

Dr. Dean presents Back Pain: Why, What, and How Much! posted at The Millionaire Nurse Blog.

Echo presents How To Survive And Thrive As A Single Income Family posted at Boomer & Echo.

FMF presents Save Money by Teaming with Your Neighbors posted at Free Money Finance.

The Family Wallet presents Kids’ Clothes on a Budget posted at The Family Wallet.

Money Spending Mommy presents Tips for Preparing for Your Kids’ College Education posted at Money Spending Mommy.


Over 91% of Lending Club investors with 800+ notes earn returns between 6% and 18%.

Suba presents How to Find Unclaimed Money (and Unclaimed Property) posted at Wealth Informatics.

The Happy Homeowner presents How to Manage Multiple Jobs posted at The Happy Homeowner.


The default rate on Lending Club Loans is below 3%.

Oil and Garlic presents My “Saving Big At The Supermarket” Story posted at Oil and Garlic.

Tom Drake presents Finding the Best Travel Deal Online posted at Canadian Finance Blog.

Justin presents Pay TV Industry on the Decline posted at Money Is The Root.

Jon the Saver presents Go Green, Save Money and Save Natural Resources for Future Generations posted at Free Money Wisdom.

Kyle James presents 50 Frugal Tips for College Students ONLY (Parents Don’t Read!) posted at Rather-Be-Shopping.com.


64% of Lending Club borrowers report using their loans to consolidate or pay off credit card debt. 

Madison presents Time to Replace the Schwab 2% Card? posted at My Dollar Plan.

Marjorie presents Get your credit card interest rates lowered posted at CardHub.com.

John presents Eliminate Back-to-School Spending Stress with the Right Rewards Card posted at Wallet Blog.

Eric presents Why Students Shouldn’t Apply for Too Many Cards posted at CreditDonkey.

Festival of Frugality #295 – Social Lending Edition

Sweating the Big Stuff

8 thoughts on “Festival of Frugality #295 – Social Lending Edition

  1. That’s quite a round-up! The lending club sounds like an interesting possibility. Thanks for the information.

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