This post is to say a huge thank you to one of my Boodaville Bonds investors who has reinvested the first repayment of €250. After consideration of what this could be used for the best option is to take the cash to the bank and pay down part of the loan I took out. (I didn’t get enough investors to cover the full amount needed!) By paying down the loan I am paying less interest to a financial system I don’t want to support and spending (slightly) more of it on moving forward with Boodaville. Here’s some more about why I believe in alternative finance:
As some of you may know I recently completed the online masters level MOOC “Money and Society” with IFLAS The Institute for Leadership and Sustainability. Jem Bendall, one of the professors on the course, criticises our money system and talks about alternatives in this TED video. Matt Slater, the other professor on the course is a nomad who helps and consults on setting up alternative currencies (as well as geeky stuff like coding software for running alternative currencies)
I was already committed to looking for alternatives to the system before the course because permaculture includes applying the basic ethics of caring for people and planet to different domains of our lives and Finances and economy is one of these domains. Some of the suggested ideas are alternative currencies, ethical investments, local markets and sharing when we have surplus. This is what I wrote when I launched the Boodaville Bonds in 2014.
The course has served only to reinforce my commitment to look for alternative ways of funding as much as possible.