Richard Canfield teaches his kids the core rule of Infinite Banking: put the money back so the family can use it again. He explains how a family banking meeting helped his children understand keeping money circulating within the family instead of losing it to outside institutions.
Chapters
So we had this really powerful discussion. And I said, now that we've come and had this trip, if we want to do this trip again, what do we need to do so that we can come on another trip? We have to put the money back, dad. We got to put it back. Why do we got to put it back, everybody? So we can use it again later. And that simple premise is sort of latched on with my kids, and I'm grateful for that. And so, obviously, we'll be expanding more and more as we go, but just that recognition of them seeing those basic principles. But one of the reasons I brought the story up is my son asked a question. He says, why aren't our friends and the two kids that were with us joining us in this family banking meeting? Like, well, their family, they run their family differently, and they may not have a family bank like ours, and that's up to them to decide if they want to do that or not. But for us, it's important that we learn and we talk about money together so that we can keep the money in the family. The more we keep in the family, the more things we can do as a family together.