This YouTube video (creator: Jayson Lowe) argues that focusing on interest rates when borrowing is a misleading instinct; the real issue is where borrowed money flows, who benefits, and the duration of the obligation. Lowe advocates "becoming your own banker" as the solution to gain financial peace and escape reliance on banks, emphasizing process over fluctuating rates.
People get focused on rates when they borrow money. Hey, I got a really low interest rate. I arm wrestled a banker into giving me 50 basis points off of the rate. I feel great. My shoulders are tucked back, my chin's up. Bankers laughing all the way to the bank, no pun intended. Because it has absolutely nothing to do with the rate. It has everything to do with. And it's all a matter of where the money is flowing to and who that money is being put to work for and for how long, regardless of the rate. That's a problem. The solution to the problem is to become your own banker. You can do that, and when you do that, everything begins to transform. You can create a peaceful, stress free way of life financially. But if you continue wrapping yourself around the axle of interest rates, bankers have got you exactly where they want you. And so get yourself untangled from that axle and develop a deep understanding of the problem. The solution will become clear and you'll know exactly what to do. Stop focusing on rates. Interest rates rise, interest rates fall. The process of banking goes on, no matter what.
