Top Benefits of Becoming Your Own Banker

Are you the type of person who is interested in having more control of your financial future?

Are you the type of person who is serious about your finances?

Many people look at their finances and see nothing but the “here and now.” Others, however, have a long term view. They realize the importance of buying life insurance. They realize that the decisions they make today will impact their life (as well as their family) in the years to come.

With all this in mind, a growing number of people are looking into the “be your own banker” concept.

This may be a change to the way you currently do things, but with the right system in place it could be just what you’re looking for.

Here are a few of the top benefits associated with this financial strategy:

1. Control

Since you’re effectively becoming your own bank, you’re now in charge of your entire banking system.

In other words, you no longer have to worry about outside influences. Instead, you’re 100 percent in charge.

2. Private Transactions

As you know, when you make transactions without the outside world, they become public to a certain degree.

For instance, credit bureaus come into play when you want to borrow money to purchase a car or home. With your own banking system, this is never a consideration.

Every transaction is private. Best yet, you can make immediate decisions without the risk of a hold-up.

3. Interest Savings

Is there anything worse than paying interest when you borrow money from a financial institution?

When you implement this system, you’re acting as both the borrower and the lender. For this reason, you can control the interest that you were once paying to a lender. How cool is that?

4. Ability to Help Others

If you’re the type of person who is interested in helping others, such as your children, you can really benefit from this system.

An example of this would be the opportunity to lend money to a child who wants to purchase his or her first home.

With your own bank, you can lend him or her the money so that they don’t have to go through the traditional process. It’s up to you to set terms and conditions that work well for both parties involved.

5. No Red Tape

It can be a hassle to work directly with financial institutions, as some are extremely difficult to pin down. They’re always looking for a reason to make more money on a deal. They’re always doing what’s in their best interest.

If you want to avoid red tape in the future, the “be your own banker” system could be just what you’ve been dreaming of.

Books On Be Your Own Banker

There have been a few books written on this concept. The all call it something different, but it’s based on the same concept.

1. Becoming Your Own Banker
2. Bank On Yourself
3. Infinite Banking

There are a few more books that illustrate and use the same concept to grow cash that you can access at any point in time.

You can also read our reviews on Bank on Yourself and Infinite Banking.

Conclusion

Becoming your own banker doesn’t happen overnight, but once you have the bones in place you’ll be able to get started with this financial system.

It’s helped many others reach their financial goals, and there is no reason that you can’t be next.

Other Reads

In order to maximize your “Own Bank” you will need a good whole life insurance. Our experts are ready to help you get the best whole life in the market.

In addition, check out our article on Best Whole Life Insurance For Cash Value.