Comments - Hopping Off The Debt Cycle! - Transition Whatcom2024-03-28T11:34:56Zhttp://transitionwhatcom.ning.com/profiles/comment/feed?attachedTo=2723460%3ABlogPost%3A6752&xn_auth=noTnanks for your perspective K…tag:transitionwhatcom.ning.com,2009-11-26:2723460:Comment:111002009-11-26T04:22:58.519ZSusan Templetonhttp://transitionwhatcom.ning.com/profile/SusanTempleton797
Tnanks for your perspective Keith. If we spend too much of our resources propping up financial organizations that do not support our local initiatives --what wil be left?
Tnanks for your perspective Keith. If we spend too much of our resources propping up financial organizations that do not support our local initiatives --what wil be left? It's not just about not payin…tag:transitionwhatcom.ning.com,2009-09-15:2723460:Comment:72652009-09-15T14:53:45.373ZKeith Foeckehttp://transitionwhatcom.ning.com/profile/KeithFoecke
It's not just about not paying more, it may be a matter of <b>survival</b>!! Especially if you lose your job and the bank forecloses your home. Many of us do not have adequate savings in case of an emergency. We live paycheck to paycheck essentially working as indentured servants to banks and utilities. Even if you do have some savings, you usually cannot get an apartment without a job. Homelessness is on the rise. You would be surprised at the recent increases in homelessness.<br />
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Being debt free…
It's not just about not paying more, it may be a matter of <b>survival</b>!! Especially if you lose your job and the bank forecloses your home. Many of us do not have adequate savings in case of an emergency. We live paycheck to paycheck essentially working as indentured servants to banks and utilities. Even if you do have some savings, you usually cannot get an apartment without a job. Homelessness is on the rise. You would be surprised at the recent increases in homelessness.<br />
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Being debt free (not just the mortgage, though that is the most important debt to pay off first), increased your security in the coming economic storm.<br />
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We should all be prepared for the worst: Peak oil, climate change, economic instability, food prices and scarcity, peak water.<br />
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Even if things don't get as bad as they could, being prepared for the worst won't hurt.