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MOB #57 – News, Debt, Emergency Funds & Contingency Plans

October 20th, 2008 · podcasts

On this episode of Millionaire or Bust, we start off the show by discussing some economic indicators, including the price of oil, interbank lending rates, consumer confidence and jobless rates.

We also discuss the speculation that mortgage rates are headed to 7%.

Then we discuss the story of a Pasadena woman who chooses death over eviction. It’s reminiscent of the 90 year old woman we discussed last week who shot herself in the chest when faced with eviction. This story was stranger with a darker ending, but left us with some questions.

Finally we spent a large portion of the show posing some questions & discussing some ways of addressing your financial weaknesses. We discuss debt, emergency funds, worst case scenarios & insurance.

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2 responses so far ↓

  • 1 Shawno // Oct 22, 2008 at 12:11 am

    I recently took out a consolidation loan to try and get my unsecured (credit card) debt under control. The loan is unsecured, and has a fixed rate. Looks like I might have got that loan just in time.

  • 2 David // Oct 22, 2008 at 1:28 pm

    Shawno, you got that loan at the right moment. It gives you a great opportunity to pay down your debt faster. It’s definitely harder to get a debt consolidation loan with a good fixed rate these days. I’m glad you go that chance to pay down your credit card debt.

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