If there's one book you can read to help improve your financial acumen, it's Becoming Your Own Banker (BYOB) by R. Nelson Nash. This book is not about investments of any kind. Instead, it's about how one finances the things in life. It's about making your money work for you.
One famous quote by R. Nelson Nash is, “The very first principle that must be understood is that you finance everything you buy–you either pay interest to someone else or you give up the interest you could have earned otherwise.”
Many people have asked Russ and Joey to bring back the BYOB series, so here it is. You get to hear them discuss R. Nelson Nash’s legendary book and its powerful concepts every week.
This episode is Part 1 of an 18-Part Series.
Top 3 Things You’ll Learn:
Why you must understand how banks run their business
The power of cash flow and how it can help you become your own banker
The value of investing in yourself and working with a mentor
About R. Nelson Nash:
R. Nelson Nash (1931 - 2019) wrote the book Becoming Your Own Banker that unfolded The Infinite Banking Concept (IBC). He came up with the idea of IBC in the early 1980s when he was struggling with high-interest rates on commercial bank loans. Today, many people continue to benefit from using IBC as a tool to achieve financial freedom.