> WHERE are you getting 8-12% ???????

I'd like to know as well so I can throw money at those places when the
debts are paid down.  One place I have a small amount of money parked
(initially invested $300) is prosper.com, a private-source lending
service.  You can deposit money there and allocate funds to private
loans that others have applied for (which could be anything from debt
consolidation to home improvement).  I've averaged a 14% return on the
ones that I hold there, but the total value of the funds I have in
there is pretty small so it isn't much in terms of dollars.  Since
that site funds private loans, there is a chance you can lose money,
though if you spread your funds over enough of them the risk goes down
considerably.  I believe they're touting the system average return at
about 10% right now.

One person even told me that I should only pay the minimums on my debt
balances and put all the extra money into funding prosper loans since
I could earn a higher interest rate there than my debts are charging
me, so in terms of actual dollars you'd theoretically come out ahead
that way (i.e. earn more interest on invested funds than you spend in
interest being charged on the debt, though the amounts involved aren't
enough for me to get over the negative feelings that I get from
holding the debt).

For now I'm just leaving the money that's in prosper where it is and
allowing it to earn the little bit of interest that it is.  Every few
months I get enough funds back in my account from payments and
interest to fund another loan, so over time the interest will compound
and the account will just keep growing (assuming none of the loans
default).

If there are other options to get 8-10+% returns that don't require
already having thousands of dollars to invest, I'm all ears.


-Justin

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