Pay Off Your Debt Fast And Easy in Canada

Paying off debt isn't always fun. I've known a lot of people who have accomplished the objective of paying off a whole lot of debt, but now they're. Now they go, okay, now I can just focus on rebuilding. So you spend all that time and energy getting rid of those debts, but now you got no money, and now you're kind of starting from scratch again. By changing the flow of the money and changing the process, you're always building capital momentum on your capital within the policy system, and you're continuing to make payments. You're always going to make payments. You're just going to control who is now getting the money and who that money is being put to work for.

Hello and welcome. My name is Vernon McCarty. I'm an authorized infinite banking practitioner and a coach on the Ascendant Financial team. I work with good people just like you every single day, coaching them on the process of becoming your own banker and how to implement that into your life. Speaking from experience, you know, having walked the path, myself and as many of my other team members have, we walked hundreds and thousands of people through this process. And one of the main things that comes up with people, one of the primary objectives that Canadians have that they want to solve is, hey, how do I get out of debt? How do I stop making so many payments? How do I start to recapture some of that interest in those payments that I'm making to other people? People are recognizing the problem. The problem is that money is always flowing away. We work real hard, we get the money, the money lands in someone else's bank. I say that again, it lands in someone else's bank. That money gets to put to work for the shareholders of that bank. We go and access that money, you know, on their terms, and we spend that money. That money is gone forever. So anytime you access money to accomplish any kind of objective, including paying off debt, the money's been transferred away from you permanently, and you permanently give up the opportunity to grow that money. And that actually is one of the main problems that people have when it comes to paying off debt. Let's think about it. The title of today's video is Paying Off Debt Fast and easy. Paying off Debt Fast and Easy. Well, it is actually pretty simple to pay off debt. The process of paying off debt, right, certainly isn't always easy. A lot of people say, hey, man, paying off debt isn't easy. Well, because, you know, it keeps compounding and growing and building and it's working against you. And you have to keep making payments to pay off that debt, and a lot of it goes to interest. But the idea of paying off debt is quite simple. You know, you owe a certain amount, they're going to charge you some interest. If you just throw all kinds of money at that problem, eventually that debt will be paid down, down to zero. Now that's if everything goes according to plan, right? If life doesn't happen, if you don't get some sort of interruption, if you don't now need to access a pool of capital to solve a problem. Right? So in other words, if I'm sending all kinds of to the debtor to pay off that balance of the debt, the credit card, the line of credit, the car payment, the mortgage, it doesn't matter what it is. Hey, if I just throw more payments out there at the debt, I'm going to hit more principal, pay less interest, and get rid of the debt sooner. That's all true, but again, you're doing that and you're giving away all your money. So now you've got to keep working really hard to gain more money so you can pay more bills, pay off more debt, and then life happens. An interruption shows up, you have a problem, you have the need for the use of money. You need to access a large amount of capital. You're not building up savings right now, you know, assumably speaking, because I'm so focused on paying off my debt, I just want to get rid of those payments and I'm not building up any savings. I don't have any cash available to me. And what do I have to do? Well, now I have to go back and re access that line of credit or that credit card or whatever. Everything that I've worked so hard to eliminate, now I've brought it right back up. My minimum payments have gone back up. The interest I have to pay goes back up, and then I get right back on the hamster wheel or I'm right back in the rat race, chasing my tail, trying to get free. So the problem is not, you know, the process, or I guess the problem is not, you know, paying off the debt. I don't have enough money. The problem is really just the process that you're using and who is controlling all of that. So again, we tie it back to the process of becoming your own banker. All we can do is compare the process of becoming your own banker to anything that we're already doing today. So I'm just going to tell you a little bit about how I've eliminated a lot of debt and how we coach our clients to help Eliminating a lot of debt fast and easy. And it's actually kind of fun. So we'll talk about that a little bit too. Before I get into all that though, at any point during this conversation, you might find yourself thinking, hey Vern, you can see the reflection of my screens here. But you can see, you might think to yourself, vernon, I want to learn more about the process of becoming your own banker. I want to learn how I can pay off my debt fast and easy and maybe even have a little fun while doing it. The best tool for that job is to learn about the process of becoming your own banker. From the founder, the pioneer of the process of becoming your own banker are Nelson Nash. There will be a link to purchase a copy of Nelson Nash's book in the description of this video. So at any time can take you right to the Ascendant Financial Bookstore where you can have a copy of Nelson's book shipped directly to you anywhere in Canada. Okay, so let's look at what we're doing today. We're using other people's money. We're using it to solve a problem. Again, buy a car or whatever it might be accessing credit. Now we're forced to make a payment to them. And you are the one doing all of the work to access, to build up the cash to pay off that debt. And then you keep going back to work and you're the only one who is putting the money toward the debt. And again, now you're putting the money toward the debt and your money is gone. It's not gaining any momentum. It's not gaining any momentum. So I'm just going to give you a high level, of course, don't mistake this as advice. I'm just going to give you a sense of the process of becoming your own banker and how we use that and implement it to help you accelerate your debt pay down so that you're not doing all the work yourself and you're not giving up all the momentum that could be being built on your money. Okay, now as I'm going through this video, you might hear a term or you might hear something that you're not familiar with as it relates to the process of becoming your own banker. This is a high level conversation. If you want to hear about an expanded discussion about the process of becoming your own banker and really learn the foundation and the essence of what this process is all about, I want you to go ahead and click the link that should be flashing right above my head right now and that will give you free access to a 90 minute webinar where it'd be an expanded conversation about the process of becoming your own banker. I'm just addressing one topic that the process of becoming your own banker makes available to you, makes possible for you. Because becoming your own banker is not going to limit you in any way. All it's going to do is give you more options and enhance what you can do today with your own money, what you're already doing today with your own money. But we're just going to put your money to work a little bit harder, control who's accessing or excuse me, who's, who's where that money flowing to and who that money's being put to work for. So what I do, rather than taking all kinds of my cash and throwing it out of debt or a specific problem, what I want to do is I first want. You've heard the age old saying, pay yourself first. I first want to pay myself, pay my family and make my money work harder for me. So I've already learned about and been coached on. Now I've got my system of policies set up, I'm ready to start practicing the concept of become my own banker. You know, as an example, assuming, let's say this was you and you've already got some coaching, you've got some foundation and one of the primary things that you've zeroed in on this, hey, I want to eliminate some debt. So what I'm going to do, again, not giving you advice, but a lot of times when we have again, credit cards, lines of credit, even a mortgage, a car payment, those all have a minimum payment that's required. Sometimes it's interest only, sometimes it's interest and principal, sometimes it's on an amortization or a certain loan schedule, sometimes it's, you know, an unstructured loan. There's lots of different ways that could be set up, but ultimately you just need to pay the total amount that's owed plus any interest and the debt will be gone. Now you can make a minimum payment and let's use a line of credit, something really simple as a, as an example. Now again, you could be putting more toward your mortgage to pay down that amortization or more toward your vehicle. In this case, I'd recommend not doing that because process of becoming your own banker is all about having less money flow away from you and having more money flow back toward you so that you can take that money and put it to work and build up a system and build up momentum on your money with no investment risk or anything. Like that, just by practicing the process and controlling who the money's being put to work for, I'm going to be depositing money into my policy system and gaining momentum within my policy system. The cash value in my policy system is going to grow every single day uninterrupted. Now, because I own the policy, I own the contract, I still maintain access to a lot of that capital that's built up inside the policy. I can access capital by a policy loan from my policy system without interrupting the compounded growth on that money. Now you might be thinking, well, how does that work? And well, that doesn't make any sense. I'm just going to ask you to bear with me for a moment. Don't worry about any of that because that book that I pointed out earlier, that will help expand on this conversation, the video that, the link that I pointed out earlier, and so that you can learn more about the process of becoming your own banker. This is a learning experience. So you're going to have plenty of resources that you can tap into to learn more about how this process works. And eventually you can get connected with somebody like myself or someone from my team or someone who's shown that they're an authorized infinite banking practitioner and they've got experience walking people through this process and implementing into their own life all that coaching and all that support is out there for you. So I would ask you just keep it simple and just follow the process for a moment and start to ask yourself if this is kind of sounds like something you want to learn more about so you can invest some more time and energy into it. So I'm building up my policy system, I can leverage the value of it. So I'm not withdrawing anything, I'm not pulling anything out of the account, I'm just leveraging the value. And then I can use those values, I can use that cash to start eliminating my, my, my credit card or my line of credit debt as an example. So I build up this policy system, I become a co owner in the life insurance company. That means every dollar that I pump into the insurance company is being put to work for me and all the other policyholders that co own the business. And I'm leveraging the value of my cash value within my policy system. And the insurance company is contractually obligated. They're legally bound to lend me up to 90% of that total cash value. And now I can access that cash value via policy loan. And my policy values continue to grow every single day uninterrupted. So imagine this for a moment say to myself, gosh, you know, I want to do something different, I want to change the process. I like what Vern has to say. Where am I going to find capital to build up my policy system? Because obviously we need to capitalize our own bank, right? Commercial banks, they can lend money out to you all day long because they're well capitalized. A lot of people are making deposits at commercial banks on a regular basis. So the commercial bank has lots of capital that they can loan back out to you in the form of car loans, mortgages, lines of credit, credit cards and so on. So we not, we're not able to do that right away because we need to build our policy system and we need to capitalize it over time. But as we're capitalizing, we can access value without interrupting that such important, ever expanding growth, right? Because that's part of the problem that you're facing. You build up some savings, you pay off debt. Now your savings is all gone. And if it was earning interest, all of that interest and all that potential interest, the opportunity cost has been lost. It's been permanently transferred away from your family. So now I want to pay the minimums on my credit cards and lines of credit so I can free up more cash or I can access it from savings or what have you. There's many different ways to capitalize your policy. But if I'm used to paying more on my lines of credit and credit cards than what they're asking for, and I'm used to putting money into savings, I can start putting the minimums on these credit cards and lines of credit, which normally is really bad advice because that means that your credit cards and lines of credit are going to have balances forever. But we're not telling you, I'm not saying to do that in this example because we're not planning to pay off the credit cards. We're just want to change the process and who's getting the money and who's it being put to work for. So instead of giving all them my hard earned money in hopes to paying off the debt one day, what I want to do is pay them the minimum just to keep the snakes and dragons off my balcony, keep them happy. And I'm going to redirect my savings and my cash flow that I was using to pay off my debt balances, I'm going to redirect that into my policy system. I'm going to start building up values in my policy system. Now I'm going to access money from my policy system And I'm going to pick a specific debt and I'm going to chunk that debt down. Going with the example of a line of credit. Every time I chunk that debt down, my line of credit minimum payment requirement is also coming down with the balance, isn't it? Thus I'm freeing up even more capital, more cash flow that I can start sending back to my policy system to replace the loan that I borrowed. Right, I borrowed a loan out of my own policy. Now I want to control the debt. I want the debt to live within my policy system because he or she who owns the debt gets the money. Think about that for a moment. You think that debt is a liability because your banker is the one who owns the debt. They control all the terms and they get all the money and that money gets put to work for them. So to them the debt is not a liability. To them the debt is an asset. So you can become your own asset by controlling the debt, thus controlling the banking function. So if we start building up your policy system, we borrow money out of the policy, it keeps growing and building and compounding. Now we chunk down your debt. Well, now you have a policy loan outstanding, right, because we borrowed money out to pay off your debt. Well now the money that we were using to service that debt can be redirected back to your policy system to replace what you took while it's continuing to grow and build. So now you can go back to your policy system and re access everything that you paid back to it, plus any of the daily cash growth. So we're always, we're recycling money through our own policy system and always going back to access more capital than what we paid back. Rather than recycling money through the commercial banking system and continuing to borrow their guilt money, keep borrowing money from the, from the bank and having to make more payments over here with the, with my own banking system, I'm the owner, I'm the banker. I set all the repayment terms right? So if I have a loan building up here, I get to determine what the repayment is on that loan. So I'm in control as the banker. Over here, as the consumer, we're not in control. So we don't want to just pay off debt and do it fast and easy. We also want to recapture all the payments and the interest that we're paying to other people and be able to continue to re access that money and recycle the capital without interrupting the key, the compounded growth. That's the key thing is we're going to always be building momentum on our money. So that down the road, future self is going to be so pleased and so happy with you. Because you practice this concept, you're already doing all of the things that you that you need to do today to become your own banker. You're just not controlling the process. You're only two of the four characters in the financial play. There's always going to be a depositor, right? You're making deposits. There's always going to be a depositor. So I'm depositing money with the commercial bank, or I'm depositing money as premium. I'm a borrower. I'm either using cash, my own cash in the commercial bank, or I'm borrowing money from the commercial bank whenever I use my own cash. Remember we talked about opportunity cost? If you spend your own cash, you've permanently transferred the energy of that money away from your family forever. And so you didn't pay interest, but you give up interest that you otherwise could have earned. And of course, if I borrow money from someone else, I know that I'm paying them interest, right? So we're able to become all four characters in the financial depositor, borrower. I'm going to access money from my policy system instead of spending my own cash. When I access money from my policy system, I become a borrower. But now I can use that money to accomplish an objective in the real world without losing the opportunity cost, without giving up the momentum on that money. Now, the banker, the banker is the one who sets all the terms on the loans. They're going to tell you whether or not you can access money. Well, if I own the contract, I'm also the banker. I set all the terms, the repayment and so on. And then the last character is the bank owner. Which one of those do you think is making most of the money? If you said the bank owner, you're correct. So by becoming your own banker, I can become the depositor, the borrower, the banker and the bank owner, the one who sets the terms and the one who gets all the money. That's the key thing. So paying off debt isn't always fun. I've known a lot of people who have accomplished the objective of paying off a whole lot of debt. But now they're. Now they go, okay, now I can just focus on rebuilding. So you spend all that time and energy getting rid of those debts, but now you got no money, and now you're kind of starting from scratch again. By changing the flow of the money and changing the process, you're always building capital momentum on your capital within the policy system, and you're continuing to make payments. You're always going to make payments. You're just going to control who is now getting the money and who that money is being put to work for. As I eliminate those liabilities, I'm going to keep making the same payments I was always making to those debtors. Except guess what? I paid off the debt. So now I'm going to recycle that money. I'm going to change who's getting the money. I want that money flowing back to me and my family. And I've followed this exact same process myself. I've eliminated debt on an accelerated basis. And I got to tell you, when I access a policy loan and I maximize the value from that policy loan, I take every dime out of that policy as a loan as I can. I apply it to debt. And then I wake up the next day and there's cash in there that I can access the next day. Just by virtue of how the whole system is designed, man. It motivates you to want to pay back and recycle that money and replenish the assets so you can recycle it back out and do other things. I don't know if you've ever experience that, where you wake up and just because you woke up that day, there's more cash available to your family than there was the day before. I don't know any checking accounts that work that way, but that's how the policy system that my family and I have been able to set up and how we set up our clients here at Ascendant Financial and how my team members are set up as well. So just by recycling money, that's the way that we pay off debt fast and easy. And like I said, sometimes it's a little bit fun as well, just by practicing everything that you're already doing today and slightly changing the process. So I hope that you got some really good value out of this video. If you have any questions or comments you want to make about the four characters in the financial play, again, we have a plethora of videos and content here beside me that you can tap into or you can always go and access that link and get access to a webinar where you can get expanded conversation about the process of becoming your own banker and learn more about the four characters in the financial play. And just remember, everything begins with the way that you think. So if this maybe isn't standing out right away, maybe it isn't making a whole lot of sense. I just invite you to think about it and start watching the process and following the money. Who's getting the money, who's in control, and who's the money being put to work for? Just ask yourself those questions and once you start finding the answers, you'll discover that banking is really the problem that you're facing. And banking is also the solution. If you and your family can control the banking function, it's how you can grow wealth with zero risk at all. Okay, anyhow, thanks so much for tapping in and watching the video. I wish you all the best. Don't be afraid to hit the like button and share this video with your friends and subscribe to our channel to get more great content. Okay? All the best to you. Take care.