Lending Club Blog

The Money Marathon: Personal Finance is a Marathon

Recently I was planning my training schedule for a big race that is coming up in six months, and it occurred to me that personal finance is similar to a marathon race. We at Lending Club believe that there are many money lessons that can be learned from a marathon. I have put together some ideas that I have on this subject, and in the following days you can read the following posts:

1. Defining and Goal Setting – Many times we hear so much about money, stock market and personal finance that most of it doesn’t get through to us. Defining what personal finance success means to you and setting goals is the first step.

2. Where Am I At Now? – Before determining how much there is to do, you have to determine where you are starting from, and what shape you are in now. Sometimes an assessment of your current financial state turns out to be better than you thought.

3. Where Do I Want To Be? – Once you have figured out where you are now and what you have to work with, the next step is to find out where you want to be. In a race this is usually done for you, but with money, you’ll have to set the goal yourself.

4. Short-Term Focus – In order to win with long-term goals you have to focus on what you can do to achieve those goals on a daily basis. Reverse planning should be used – start with the goal and a date and work backwards.

5. Zero-based thinking – “Knowing what I now know, would I get into this investment, business, partnership or deal again?” If the answer is no, your next steps should be to figure out how to get out of it and how fast.

6. Have a Fun Fund – When the going gets really tough and the motivation drops, you should just drop and do nothing. Finances should not just be all about sacrifices and hard work. Set aside a fund that is dedicated to nothing but fun things to do.

7. Make It Automatic – Training for a marathon should be put on autopilot. You don’t want to be thinking about your workout clothes or where your shoes are. You want the least friction possible. Same principle applies to your finances; make it automatic whenever you can. You can contribute 10% of each paycheck to your P2P loan portfolio on Lending Club, for example.

8. Compete Against Yourself Only – Competing against others will only get you frustrated and demotivated in record time. There will always be somebody that comes along that is better or can do better. The best thing is to make sure that you are only competing with your previous numbers.

9. Support Will Carry You Through – Training for hours can be tough and it’s often easy to talk yourself out of doing it. If you train with a friend, he can carry you through your rough times, and you can carry your friend through his rough times.

10. Win – Set up small wins and big wins for yourself after small intervals, before you achieve your ultimate goal. This will help you to keep focused and will reinforce your behavior and help it become a habit that you automatically default to.

Friday, November 30th, 2007 at 9:14 am

Comments (0)


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

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

What is Lending Club?

More than one million Americans have achieved their financial… Read More »
February 16, 2016

Get ready for tax season! Lending Club Now Offering TurboTax Integration for Form 1099s

Read More »
February 12, 2016

Lending Club Success: Surpassing $16 Billion in Loans

Founded in 2007, Lending Club’s… Read More »
February 11, 2016

Credit Performance Update

Summary: Credit performance of our standard program is coming… Read More »
February 7, 2016

Critical Small Business Financing Issues

A recent Harris Poll survey conducted on behalf of… Read More »
December 17, 2015


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