Banking Is An Action Not An Institution – Part 1
I often, when mentioning our Family Plan’s accounting/fiscal section, refer to our “banking strategy.” While I don’t like to use the term “strategy”, it’s the shortest way to express what I mean. In this post, we can go into greater detail with regards to what we mean when we say “banking strategy”. What Pamela and I have set out to do is to get a better handle on our resources, specifically our money.
is available now!
Our team has worked very hard putting it together. We designed it to help you and your family move the needle forward in making your life your business.
Find out more about the Family plan here.Out of Control Finances
Have you ever noticed or had this happen to you? You overestimate how much money you have in the bank? Just after payday, you thought you had more in there than what you actually had. Sure you have, it happens to normal people. Notice I didn’t say it happens to everyone. Get that thinking out of your head; it doesn’t happen to everyone and it doesn’t have to happen to you. You no longer have to endure finances that are out of control. In this post, we will not discuss getting out of debt because we’ve found that getting into debt started with not having a handle on paying your bills and managing your resources.
The Biggest Financial Issue We Face
The biggest issue we as a family faced was not knowing the services our bank provided. We thought, say it with me, “we thought”, the bank was so that we could have a checking account and a savings account. You might be thinking, isn’t that what it’s for? Sure it is, but for you who are reading this post, it’s for much more. It allows you to take control of what’s yours. We get to dictate our resources and not have our circumstances or the world around us dictate them for us. What’s funny is, normal people don’t see a problem with how they bank. Let me give an example. Why do many married couples have separate banking accounts? It’s because they’ve experienced banking problems. They didn’t have a plan for banking; normal people usually don’t.
A Beginning to The Solution Process
What if you were able to resolve your banking issues? Then together you could do a whole lot more with your money. Life without money problems goes a whole lot smoother. Notice I didn’t say life without debt problems. Debt can be managed, but it’s tougher to overcome money problems. If you’re in the church community, it’s referred to as a poverty mindset. People usually die still having money problems, not to mention those who take their lives because of money issues. Pamela and I, after many years of financial hardships, decided that would not be our story and so we started planning. We started with banking because that’s where it all began. How can we make our banks work for us since we pay to have them? Our bank accounts shouldn’t be a burden, but rather a help. The bank is an employee or think of it as a contractor who works for you in the business you call your life. So then, how can we improve the banking process?
Today is Friday!
In order for you to get a handle on what you have, you need to know what you have and the state that it’s in. Between now and the release of our next post, write down how many different banking accounts you have with your resources (i.e. Investment account, 401k, commercial banks, credit unions, holding companies, etc.). In our next post, Pamela and I will share with you several ideas that can help you better manage your resources using bank accounts. How much smoother would your life go if you eliminated mismanaged funds? Leave a comment below.
