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Becoming your own banker: Yes, you can do this!

Hi. This is Marcy with Private Banking Concepts, and I’m just going to share a little bit today about becoming your own banker.

It’s starting to be a little bit of a buzz. I hadn’t heard of it until the last three years. And I’ve been in the industry, but I really hadn’t heard of it. I really didn’t know much about it.

A very good friend of ours actually asked me the question three summers ago. And I said, well, of course you can do what he was asking me. But then the more I got to thinking about it, the way he was talking, I wasn’t sure if I understood. So we began to investigate, and we really wanted to find out what did becoming your own banker truly mean?

Right now, we go to a bank. We go to a brick and mortar. We walk in the door. We deposit our money. We put it in a savings account or a checking account to use it. We put it in a money market. Someplace where we feel like it’s accessible to us. But have you ever thought about what if you were the bank? What if you could put the deposit into your bank and learn to bank on yourself.

And so Tim and I did just that. What we did is we started out with a truck. We paid off our truck. It was just a little under $500 a month, but we decided to round it up to $500 a month. We paid off the truck. We used the concept of Infinite Banking and then we paid off the truck and we paid back ourselves to our own bank. In two years, not only do we have the $500 a month for the truck, but we have a free and clear truck. So in a few years, we’ll have enough money accumulated in our own bank for changing our habit that we can go out and buy another truck.

It’s a simple concept, but yet a little bit outside of the realm of normal thinking or normal banking. Hey, if you’d be interested, we would certainly love to share just a little bit about Infinite Banking. Give us a call.

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