Infinite Banking Concepts is Ridiculously Simple!
I went to a seminar that was about banking and money. The three main topics were saving, loans and repaying the loans. In the savings part of the seminar the speaker [Nelson] told us the importance of saving money and not spending everything we make. Once enough money is saved, we can begin to take a loan from the money we saved.
The loans that we take from our own “bank” have to be paid back with interest just like a normal bank would charge us.
When we pay back our loans with interest you have more money in your savings instead of giving the money to the bank.
The speaker made it very clear that you should only take loans that you can repay. He also said that the more interest you pay yourself, your savings is greater.
This made sense to me because, you shouldn’t spend your money like crazy and you should have to save for the future. -- Natalie Lasko, age 8
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