What loan amounts does the speaker suggest as practice examples?

Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

Don't Be Afraid to Capitalize & Start Small

9 Mar 2024 · 1 min

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0:31

A short YouTube talk by Richard Canfield advising listeners to take a small loan—even if they don't strictly need it—as practice to experience the borrowing process and build financial "muscle memory." He recommends completing the full loop (receive funds, repay) so future borrowing becomes easier; example practice amounts mentioned are $500 and $1,000.

Questions this video answers

$500 and $1,000 ("take 500 bucks, take a thousand bucks").

Chapters

One of the things I like to share with people through the conversations we have is, you know, it's okay to take a loan. Take a small one, even if you don't need it. Take one, experience the process. Take 500 bucks, take a thousand bucks. Worst case scenario, you receive in your bank account, you send it right back. But now you've completed a loop. And the loop of that activity is the first piece of training. It's getting on the bike and starting to pedal. Right? And so the sooner that we implement that step, whether you need the capital right now or not, the quicker and easier you're able to do it the next time, and then the next time, and then the next time, and it starts to create a little bit of muscle memory.