7. Earn Interest with Peer-to-Peer Lending
Getting a bank to lend money can be challenging, but peer-to-peer lending schemes allow people to get financing that they need when going through the traditional route doesn’t seem like a good option. Peer-to-peer lending is a new function of the sharing economy that allows people to use their excess capital in a lending program and then earn interest on it.
Interest rates on peer-to-peer lending platforms usually range from about 4% to 10%, making it seem like a good investment. Keep in mind that these programs are not FDIC-insured, like banks, so there is not much to protect you in case you lose your principal. In other words, don’t invest money you aren’t prepared to lose. This is a risky option for unemployed people, yet an option nonetheless.