“You can only help people as much as you’ve helped yourself. You can only lead somebody as far as you’ve gone yourself.” @LendingMemo

“The money can be in your checking account in 3 or 4 days – it’s amazing!” @LendingMemo

Simon Cunningham joins us on the coffee chat today to talk about Social Responsible Investing through peer-to-peer (P2P) lending and how it helps people get out of debt.

We’ll be talking a lot about how to get the most out of P2P lending and how to be a socially responsible investor.

Simon is the owner of LendingMemo.com and he’s creating an awesome, interesting mission that explains how this is the first time in history that Americans can borrow and lend on a larger scale.

On this Coffee Chat:

  • What influenced Simon to get into peer-to-peer lending
  • How Lending Memo was born
  • Socially responsible investing (SRIs) and the tradeoffs between performance and altruism
  • Which should take priority – the mission or the returns?
  • How not to get into the rabbit-hole of determining the truth behind companies’ corporate social responsibility statements.
  • Simon’s mantra for investing: “Keep it simple.”
  • Peer-to-peer (P2P) lending helps people get out of debt
  • The brilliant idea of fractionalized loans
  • P2P lending is like crowdsourcing a loan
  • How Simon came up with the idea of P2P lending
  • P2P lending gives investors access to a great return
  • How you can receive money from P2P lending in just 3-4 days
  • Simon’s advice: “Don’t put 100% of your assets in ANY single investment.”
  • In general, to have positive returns in P2P lending, you need 200 borrowers to have a balanced, diversified account
  • How to make sure you’re a socially responsible investor
  • Simon’s opinion on B corps (benefit corporations)
  • Simon’s overall opinion on debt – is it OK to be comfortable with it or should you stay out of it as much as possible?

Links:

(Psst: Email me a screenshot of you leaving an iTunes review of the podcast and I’ll send you a copy of Michael’s book. Ends June 1st)

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“A lot of people would love to work for themselves, sure. Yet for whatever reason, they’re unable to either because of certain circumstances or because they’re afraid to take the leap.”

Lauren Bowling joins us on the coffee chat on purpose today. Lauren is a personal finance blogger and millennial home buyer, sass queen, puppy-lover and cola addict. She is the genius behind the website L Bee and The Money Tree.

Every year around the fall season, I typically do two things:

1. I go apple picking and drink lots of apple cider

2. I think about buying a home.

I haven’t bought a home yet and am not sure when I will, but my conversation with Lauren got me thinking a whole lot more about how to best use my money along with some solid advice on why I should buy a home.

I forgot who it was who said it and I think it was Jay-z, Einstein or Tony Robbins or perhaps it was all three: having money allows a person to do tremendous good in the world. In fact, it’s coming back to me. Jay-Z said, “I can’t help the poor when I’m poor.” Now, I don’t completely agree with that. There are plenty of people who do great things with little money, but having money allows a person to do more good (if he chooses to do so with his money which he should). 

Which is why I’m happy to have Lauren on the show. She helps the many millennials who have found themselves with heaps of debt, mostly from college loans, and helps them get back on track with their spending.

Money is a tough topic to talk about in many circles, and in the social change world it’s even harder. When a for-purpose business gets launched, the world tends to put a microscope on it and evaluate just how “for purpose” it really is. The same goes for non-profits. Ironically, regular old businesses continue to do what they want with less public criticism. 

On this coffee chat on purpose:

  • Confessions of a shopaholic
  • How to grow out of debt with a side hustle
  • Tips for growing your money tree
  • Lauren’s thoughts on what streams of income you should have
  • Why real estate is still a good investment
  • Tips for millennial home buyers 

Appreciate The Traveling Cup? Please consider sharing the podcast with a friend and leaving a rating over at iTunes. 

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