Lending Club Blog

The Money Marathon – Win

According to researchers in psychology, when a person does something that is not pleasant but receives some positive reinforcement afterwards, he will keep doing the task and go through the negative to experience the positive. This phenomenon can be seen in many areas of life. In running, it’s usually the natural high feeling from endorphins that keeps the runners coming back to running.

Many times this result occurs naturally, but often times the reinforcement has to be manufactured. For instance, you can give yourself a reward after doing something you do not enjoy. It doesn’t have to be anything fancy; it can be as simple as having a cup of coffee or tea after starting on a difficult report. This would be considered a small win and it’ll keep on reinforcing your behavior until you have accomplished your goal.

Apply this method to your Money Marathon also. An easy way to do this is to reward yourself every time you save, invest or cut costs. You can do this by contributing to your Fun Fund. When you contribute to your Fun Fund, you can imagine and plan what you will do with the funds in the future. This “day dreaming” or future planning is a small reward for taking an action that you might have otherwise put off.

The reinforcement of your small victories will serve to build up the habits and behavior that will be required to complete your bigger goals and finish the Money Marathon.

When working on your bigger goals, such as saving 10% of your income, investing a big amount of money or lending out thousands of dollars through social lending, you can set your sights on even bigger rewards, such as a weekend getaway or a big purchase you’ve been looking forward to making.

Your task is to associate the feeling of winning of with any activity that will bring you closer to winning your Money Marathon.

We at Lending Club wish you the best of luck with your Money Marathon!

Monday, December 31st, 2007 at 10:15 am

Comments (0)

Recommended

Welcome Home

Lending Club named #5 on Forbes’ Most Promising Companies List

Get ready for tax season with Lending Club’s Tax Form Guide

New Adjusted Return Metric

See more
Lending Club Awards
  • Archives z

Recent Posts

We’ve acquired a company!

Today we’re excited to share the news that we… Read More »
April 17, 2014

Lending Club customer information safe from Heartbleed Bug

You may be hearing about… Read More »
April 11, 2014

New: Loan Origination Data Update

An update for users of our platform statistics and… Read More »
April 3, 2014

Lending Club Launches Business Loans

Today, Lending Club announced the launch of business loans… Read More »
March 20, 2014

Lending Club Extends Privacy Protections for Borrowers

At Lending Club we pride… Read More »
March 19, 2014

How to Protect Yourself from Online Scams and Swindles

It is more important than… Read More »
February 11, 2014

New Statistics Charts to Help Investors Understand Returns

At Lending Club, we believe… Read More »
February 6, 2014

Welcome Home

I became a U.S. citizen earlier this month. When… Read More »
January 27, 2014

Lending Club named #5 on Forbes’ Most Promising Companies List

Lending Club has won the… Read More »
January 24, 2014

Get ready for tax season with Lending Club’s Tax Form Guide

Tax season is coming. To… Read More »
January 13, 2014