Benefits of Infinite Banking
Banking has been around for centuries. Most people felt that their money was secure in a bank because they will not be at a place where they can use it anyhow. The banks are also able to give them loans depending on their savings. They are able to pay for the loans over a time that has been set by the bank. Paying the loan bank however becomes a challenge because often the interest is quite high. There is also not easy flow of money when it is in the bank because at times you do cannot get it as soon as you need it. The concept of infinite banking came in to curb all these challenges that come with banking. Man people may not have come across the infinite banking concept but it is there and helping a lot of people with their financial horror stories. Infinite banking entails an individual taking charge of all his finances. Everything that the bank could have done for them, they now take it upon themselves. Infinite is all about an individual becoming their own bank. One could be so many questions on how one can benefit from infinite banking; the article below tells it all.
The first advantage is that one becomes their own boss. They are the ones who know where their money is and when. When you have saved your money in a bank, any time you want some of it you have to go to a bank outlet to get it. This does not come in very handy for a case that requires instant financing. It sometimes gets to the point of frustrations when you may be in need of the money and the bank systems cannot process it at that particular time. Infinite banking gives you the chance to be the one in control of your money, in the sense that you can get it any time you want it. You also get to invest your money as you think best because you will waste no time thinking of the process of getting the money once the idea comes. Don't use plagiarised sources.Get your custom essay just from $11/page
Secondly, you can still have your loans but you can pay them at your pace. The bank sets a fixed time within which you have to clear your loan but with infinite banking you do it slowly at your convenience.
Lastly, you set your interest rates. Unlike when working with a bank where they set their interest rates, infinite banking allows you to work with your best convenient interest.