Lending Club Blog

Resisting Change May Save You Money

Change may be the only constant, but along with change, higher costs often come along for the ride. Resisting change may allow you to save money.

As anyone who has ever purchased consumer electronics can tell you, the longer you wait, the less expensive the products become. The cost of the top of the line model may continually rise, but often nowhere near as fast as the features of the most basic model. Paying a few thousand dollars for the greatest computer available may seem like a smart idea, but knowing that the same one will sell for a few hundred dollars in a year or two may cause you to reconsider.

When we already have a solution to meet a current need, there’s really no reason to change until it makes economic sense to do so. I have an older friend who still uses her film camera. She does so because it works just fine for her, she doesn’t have to deal with ordering prints online, and she doesn’t currently own a computer. So for her, switching to a more modern picture-taking method would cost a significant amount of money. She might reconsider her position if she had a computer, or if she needed to replace her current camera, but until that time she’ll continue with the method that has worked for years. Add in the time she would have to invest to learn how to use a digital camera (versus her simple point-and-click) and you can imagine that it may be quite some time before she makes the transition.

At some point, the value of a new item will start to outweigh the cost. Increases in efficiency of newer technologies and rising costs of legacy methods may both factor in. But until you reach that point, you’ll be better off continuing to do things as you’ve always done.

Tuesday, September 23rd, 2008 at 6:35 am

Comments (0)


Types of Loans 101

Growing Your Business By Using Capital

9 Reasons to Open an IRA

6 Reasons to Get a Personal Loan

See more
Lending Club Awards
  • Archives z

Recent Posts

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

Meet Patrick Dunne — Lending Club’s Chief Capital Officer

Patrick Dunne, Chief Capital Officer,… Read More »
September 8, 2016

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


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