Jayson Lowe explains the Infinite Banking Concept for controlling your finances and paying off debt faster. He bought a car in 2017 that would have taken five years to finance but paid it off in three using this method.
How can a person utilize the process of becoming your own banker? The infinite banking concept, to get out of debt, it's all about taking control of that function as it relates to your needs. So, for example, I purchased a vehicle in 2017 that I would have otherwise financed through someone else's bank for a period of five years. By implementing this process, I was able to not only purchase the vehicle, but to recapture the debt in three years. And so this is all about how you go about financing the things in life. And if your dealing with snakes and dragons, as I would refer to them as where you've got consumer debt, or you've got mortgage debt, or real estate investment debt, if your aim is to get rid of those snakes and dragons much sooner than what you're presently scheduled to, then the process of becoming your own banker is definitely an advantage for you.
