Refinance Your Debt Yourself
Debt has become an obvious downfall in our country, both on a national and a personal level. We have grown to become accustomed to financing everything we buy, from our homes all the way down to our blenders. The problem comes when we end up paying more for everything we buy because of interest we are paying to banks and credit card companies.
There are hundreds and hundreds of companies that help individuals refinance their debt or package all their debts into one and offer a lower interest rate, but the fact remains that there is a significant amount of interest going to a third party. Let's look at what would happen if you could find a way to refinance your debts yourself.
The typical American family spends about 30% of their net income servicing debts and is only able to save between 5%-10%. It doesn't make much sense putting that 5%-10% savings at risk in the market hoping it will make up for the 30% going to third parties. So lets say a family makes $100,000- that means $30,000 is going toward debt and about $5,000 is going toward savings. Let's say they could take that $5,000 and get a 12% rate of return (keep in mind it is next to impossible to get a 12% return year in and year out). So in a year they were able to make $600 ($5,000 x 12%)..not bad. But lets say they were able to redirect just 2% of their debt back into their circle of wealth. So now instead of paying 30% of their income to someone else they are paying 28%. The are able to put $2,000 back into their pocket ($100,000 x 2%) all without any risk.
This paradigm shift is known as You Be The Bank and is helping thousands of Americans restructure their finances for the better. By controlling who your debt is paid to and eventually eliminating your debt, you will be able to create lasting wealth. This is just one of the infinite number of ways You Be The Bank can be used.
There are hundreds and hundreds of companies that help individuals refinance their debt or package all their debts into one and offer a lower interest rate, but the fact remains that there is a significant amount of interest going to a third party. Let's look at what would happen if you could find a way to refinance your debts yourself.
The typical American family spends about 30% of their net income servicing debts and is only able to save between 5%-10%. It doesn't make much sense putting that 5%-10% savings at risk in the market hoping it will make up for the 30% going to third parties. So lets say a family makes $100,000- that means $30,000 is going toward debt and about $5,000 is going toward savings. Let's say they could take that $5,000 and get a 12% rate of return (keep in mind it is next to impossible to get a 12% return year in and year out). So in a year they were able to make $600 ($5,000 x 12%)..not bad. But lets say they were able to redirect just 2% of their debt back into their circle of wealth. So now instead of paying 30% of their income to someone else they are paying 28%. The are able to put $2,000 back into their pocket ($100,000 x 2%) all without any risk.
This paradigm shift is known as You Be The Bank and is helping thousands of Americans restructure their finances for the better. By controlling who your debt is paid to and eventually eliminating your debt, you will be able to create lasting wealth. This is just one of the infinite number of ways You Be The Bank can be used.
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