You're not a failure. You're not a loser. You're just living
Are you ready to get out from under the BS and take back control of your life?
You're working hard, getting by, and paying your bills on time. But maybe you've been doing this for so long that you forgot how much fun it could be to have some extra money left over at the end of the month. Maybe you feel like there's not much hope for change in your financial situation, and that's okay! The Debt Free Coalition is here to remind you that there's always something better out there for us, and we can create it together!
We want to help each other get out from under the BS and take back control of our lives, and our finances—without apologies! As a group of like-minded people from all different stages in our transformation with money, we will brainstorm ideas, concepts, and systems; ask questions; get questions answered, and learn from each other how to best move forward.
It's time to bring the energy of money together in one place to propel us forward in the direction we would like to go in—so let's do it!
WHO OWNS THE MONEY IN YOUR BANK ACCOUNT
WHO OWNS THE MONEY IN YOUR BANK ACCOUNT
WHO OWNS THE MONEY IN YOUR BANK ACCOUNT
Although few depositors realize it, legally the bank owns the depositor’s funds as soon as they are deposited into the bank. When we open a bank account and make a cash deposit, we surrender the legal title to the cash, and it becomes an asset of the bank.
Our money becomes the bank’s, and we become unsecured creditors holding IOUs or promises to pay.
The money deposited in an account is no longer deemed as belonging to the principal but rather to the bank.
You can change that forever by learning how to do self banking, and achieve increased cash flow and never be an unsecured creditor again!
WHY BANKS PUT MONEY IN LIFE INSURANCE
WHO OWNS THE MONEY IN YOUR BANK ACCOUNT
WHO OWNS THE MONEY IN YOUR BANK ACCOUNT
“Banks and other financial services, when it comes to investing their own money—don’t follow conventional wisdom and put their cash into mutual funds, stocks, hedge funds, term life insurance, or risky real estate deals. Instead, they place a large portion of their vital reserves, known as Tier One Capital, into high cash value life insurance or permanent insurance….
“Banks invest billions into high cash value life insurance. Surprisingly, for many banks, life insurance is their largest asset class.
Why not find out how the same protection can help you win financially.
FDIC FAILURE BETWEEN 2008 AND 2013
WHO OWNS THE MONEY IN YOUR BANK ACCOUNT
FDIC FAILURE BETWEEN 2008 AND 2013
How did the 2008 financial crisis happen? The financial crisis was primarily caused by deregulation in the financial industry.
In 2004, the Federal Reserve raised the fed funds rate just as the interest rates on these new mortgages reset. Housing prices started falling in 2007 as supply outpaced demand. That trapped homeowners who couldn't afford the payments, but couldn't sell their house. When the values of the derivatives crumbled, banks stopped lending to each other. That created the financial crisis that led to the Great Recession.
HOW MUCH COULD YOU BE SAVING
Is owning DEBT profitable? What companies are successful by OWNING debt? Do you own or owe your debt? WHY? Has your financial services consultant discussed this with you, while doing your financial planning?