Jayson Lowe argues that chasing the lowest interest rate misses the point of infinite banking, which is about building wealth through capital stewardship, not rate-chasing. People spend weeks saving fractions of a percent on car loans while ignoring whether the purchase creates wealth at all.
You know, people accidentally reduce the infinite banking concept to an interest rate discussion. And I don't think, in fact, I know that Nelson wouldn't have wanted that, right? Because like I mentioned earlier, he wasn't trying to teach people how to find cheaper money. He was teaching people how to become better stewards of capital. There's a profound difference there. Banks don't think that way. They know exactly what interest rates are. They price them, they manage them, they forecast them, but they don't build their entire financial strategy around chasing them. So why do consumers do that?
Well, I think the part of it is they're always looking for the next thing, right? That instant gratification. Oh, I found another rate that's, you know, 0.25% cheaper than the other one. That must be better for me.
Yeah. And think about, you know, one of the things that consumers borrow money for the most is cars. And when you see these ads and you see that they're promoting what the payment will be, why aren't they advertising The total cost. Just think about that. And people will spend 3 weeks trying to save half a percentage point on, on a financing deal or a loan and won't spend 30 minutes asking whether the decision they're financing is actually making them wealthier. We've all done that. I know I have. And so if you're, if you're watching this right now, don't think about your neighbor. Don't think about your brother-in-law. Don't think about that friend who's always refinancing something. Think about your own thinking. Think about your own thinking. Think about you. When's the last time you made a financial decision where the first question you asked was, who is getting wealthier from this transaction? I go deeper in a free training at learnwithjay.com, or just follow along and I'll keep it simple.
