Lending Club Blog

Doing What It Takes to Be Wealthy

If you dream of being wealthy, getting completely out of debt, or funding an easy retirement, there’s something you should know. It’s not impossible. However, if you find yourself consistently deeper and deeper in debt, perhaps it’s time to change some of the bad habits that have kept you from achieving your goals.

Supposedly, one definition of insanity is doing the same thing over and over and expecting the results to be different. If you continuously spend more than you earn, how can you ever expect to get out of debt?

The Motley Fool published an article that talks about the basic habits of a millionaire. Some of the advice is great advice, although a bit unspecific. The author outlines three major rules.

  1. Believe it’s possible
  2. Burn your boats
  3. Associate with those who are already successful

The first piece of advice is good. You have to believe that you can succeed — once you believe in yourself, you can plot a feasible plan to make your goal a reality. The second piece of advice relates to raising the cost of failure — by doing so (through destroying credit cards or telling your friends to yell at you if you overspend), you make it more difficult to not succeed. The last step is imperative — befriend and get advice from those who had been in your situation in the past. Only by doing this will you be able to learn from others’ mistakes.

The process of getting out of debt and achieving your goals can be a difficult one to bear. However, the act of planning your approach can make it much easier. You just have to first believe it is possible to succeed and then do everything in your power to make it happen.

Tuesday, April 29th, 2008 at 6:03 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

Growing Your Business By Using Capital

Smart small business owners don’t wait to consider borrowing… Read More »
August 19, 2016

9 Reasons to Open an IRA

Retirement: a word that often comes with many connotations.… Read More »
August 5, 2016

6 Reasons to Get a Personal Loan

While it would be great if we all had enough… Read More »
July 29, 2016

Lending Club and the Marketplace Model

Some of our investors have observed the funding environment… Read More »
July 28, 2016

A Recap: Credit Strength on the Lending Club Platform

We are proud of our… Read More »
July 14, 2016

A Message to Investors from our President and Acting CEO

Today, our President and acting… Read More »
May 19, 2016

Lending Club Receives Tribeca Disruptive Innovation Award

Disruptive innovation comes in many… Read More »
April 29, 2016

Lending Club Business Financing Review

One of the biggest challenges of owning a small… Read More »
April 27, 2016

Lending Club partners with Funding Circle and Prosper to launch Marketplace Lending Association

Read More »
April 7, 2016

Lending Club Welcomes Maryland and North Dakota Investors!

We’re now open to retail… Read More »
February 23, 2016

2014

We went public today!

Ringing the bell this morning at the New York… Read More »
December 11, 2014

New and Improved Statistics Page

We recently redesigned our Loan Statistics page to make… Read More »
November 13, 2014

Lending Club Honored with Economist Innovation Award

This month I was honored… Read More »
October 15, 2014

Welcome Vermont Investors!

Today, we’re thrilled to welcome residents of the state… Read More »
September 4, 2014

We filed to go public today

We filed a registration statement with the SEC today… Read More »
August 27, 2014

Our Billion Dollar Quarter

We’re excited to announce  that we’ve facilitated over $5… Read More »
July 8, 2014

Is Lending Club Available in My State?

Is Lending Club available in my state? That is… Read More »
July 7, 2014

Lending Club Joins Senator Cory Booker to Discuss Improving Access to Capital for Small Businesses

Read More »
June 20, 2014

Lending Club Named a CNBC Top 50 Disruptor for a Second Year

For the second year in… Read More »
June 17, 2014

PRIME is now Automated Investing

Lending Club is excited to announce that PRIME has… Read More »
May 14, 2014
View All w