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Spotloan wins the award for easy access to money, a very good turn time of less than 48 hours from the original phone call, and a friendly (non-digital) format with a personal contact to handle your account.  The cost for the simplicity is a high interest rate.  If Spotloan is smart they will keep their fantastic format for lending intact and incorporate the lower interest rates that some other competing tribal lenders have been able to provide.  Just like stocks, mutual funds comes in many flavors, from low-risk index funds that track a well-known benchmark like the S&P 500 to spicier, high-risk funds that invest in super-small micro-cap companies. So while potential risk and reward in fund investing varies greatly depending on which type of fund you buy, in general, buying a mutual fund is less risky than buying shares of a single stock. This is simply because a mutual fund has greater diversification, or exposure to many companies, so even if one stock blows up, it shouldn't affect the rest of the portfolio too much. Of course, the flip side is that mutual funds won't typically double or triple in value in short periods of time the way a share of stock can! Salary account bank statement for six months
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