January 24, 2011 at 10:26 AM EST
Nearly Half of Americans Say a One-on-One Mentor Would Increase Personal Wealth

Each New Year, Americans resolve to change their lives for the better. Whether it’s losing weight, stressing less or saving money, millions of people commit to try something new to experience an improved quality of life. In light of the current economic downturn, many Americans are focusing on getting out of debt in 2011.

Wondering if a mentor would help individuals who had resolved to eliminate their debt, Prosper Inc., the nation’s leader in customized finance and education programs, recently commissioned a study that surveys the American public’s feelings about finance coaches and their efficiency.

The study showed that 45 percent of respondents said that a one-on-one financial mentor would help them increase personal wealth and pay down their debt more efficiently than if they did not have one.

“Americans have a work ethic that is unmatched,” said Ethan Willis, CEO and co-founder of Prosper Inc. “We wanted to know why people were struggling with debt for such extended periods of time. Was it because of lack of resources or lack or knowledge? We weren’t sure which was the answer, but we had a feeling Prosper could help.”

With the unemployment rate hovering above nine percent and foreclosures hitting every neighborhood, the data illustrates that Americans are looking to build financial security by turning to personal mentoring or coaching programs.

“Finance coaches are not only experts in increasing wealth, but are also knowledgeable about decreasing debt, which is essential to the survival of so many hard-working Americans stuck in the current economic downturn,” said Willis.

Recently, a Prosper student who had a one-on-one mentor was able to pay off more than $16,000 of his debt in four weeks, building his financial security and proving that personal coaching programs can make a difference in spite of the current economy.

Note: The study, conducted earlier in the month, surveyed 516 people across the United States varying in age and income.

About Prosper Inc.

Prosper Inc., located in Provo, Utah, offers one-on-one customized education programs that help students realize their potential and achieve greater wealth. Prosper currently focuses its offerings on real estate and stock market investing, entrepreneurship, e-commerce, personal development and personal finance. For more information about Prosper Inc., visit www.prospering.com.

Contacts:

Radi8 Creative
Jessi Slezak, 703-597-5359
Jessica@radi8creative.com
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