Lending Club Blog

Money leaks—where is your money going?

Everyone has certain items that they love to spend money on. For me, I can’t resist a good book on Amazon, even when I already have too many books in my backlog.

When I look at my monthly expenses, I see that a lot of my money is going to Amazon to get these books even though I don’t necessarily need them. However, I budget and plan for these book purchases. I know exactly how much I am spending on books, and if the number gets out of hand, I can easily limit the number of purchases I make.

However, some money leaks can be much more insidious. Money, Matter, and More Musings wrote a great post on capping money leaks. What are some of the biggest leaks? Paying for cable when you don’t watch much TV, being addicted to specific foods, and not paying off credit card debt are at the top of the list.

Also, small things can lead to big problems. Forgetting to turn your library books in on time, for example, might only be a one or two dollar charge. But continuously being late can lead to much bigger fines.

What is the solution? As we’ve mentioned before on the Lending Club blog, there are several ways to see where your money is going. As a reminder, for one month, watch every dollar you spend. Make sure that you note every payment you make. You’ll start to see where your money is going, and for what purposes. You might catch yourself spending a lot more on eating out than you thought, for example. To correct your spending habits, you must know them first. Once you plug up all of these leaks, you will have extra money to put toward your IRA and invest in mutual funds and P2P loans.

What are your money leaks?

Tuesday, October 30th, 2007 at 10:09 am

Comments (0)


5 Ways to Get Your Finances Ready for the Holidays

How to Build a Budget: Part 1

The State of Debt: 2016

Types of Loans 101

See more
Lending Club Awards
  • Archives z

Recent Posts

5 Ways to Get Your Finances Ready for the Holidays

Read More »
December 1, 2016

How to Build a Budget: Part 1

Living on a budget. It can sound scary, right?… Read More »
November 21, 2016

Five Signs Your Business Needs Capital

Knowing when your business needs working capital— and promptly… Read More »
November 10, 2016

How does a car refinance loan work?

Whether your goal is to lower your monthly car… Read More »
November 2, 2016

Are you paying too much for your auto loan?

How refinancing your auto loan with a better rate… Read More »
October 25, 2016

The State of Debt: 2016

Politics can be a divisive topic, where issues and… Read More »
October 24, 2016

Lending Club Teams Up with United MileagePlus® to Offer Customers More

  When it comes to… Read More »
October 21, 2016

Patrick Dunne: A Message to Investors

I wanted to take a moment to introduce myself… Read More »
September 29, 2016

Line of Credit vs. Loan

Lines of credit (LOCs) and small business term loans… Read More »
September 28, 2016

Types of Loans 101

There are many types of loans out there and… Read More »
September 16, 2016


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