About Bank Equity Program
BECOMING A BANK ILLUSTRATION
introduction
Use the equity in your home to become a bank. Instead of using your checking account to receive and pay out funds, you will use your home equity line of credit for all income deposits and expense pay outs.
Page Illustration:
First Illustration: Pay Remodeling Expenses
becoming a bank
1st: Use the equity in your home to pay for home remodeling Expense what you can using your preferred awards credit card to pay for home remodeling costs:
If you can't use your card, use your home equity line to pay expenses and to pay off your credit card balance when the charges come due. |
becoming a bank
2nd: Deposit all of your scheduled income sources into your banker home equity line of credit account You will take all of your scheduled income sources and deposit them into your equity line account instead of your checking account. Deposit:
The idea is move your money from checking (where you earn zero interest) and deposit it into your bank equity line account. You will note the benefit in the 4th illustration. |
becoming a bank
3rd: Now use your banker home equity account to pay family expenses Use your banker home equity account to pay for everyday budgeted and planned expenses such as:
Use the bank equity like you would use your regular checking account to pay for everyday living expenses - either by online billing or automated draft. |
becoming a bank
Benefit: Your discretionary income pay offs your home remodeling costs FAST! Your discretionary income (the income amount minus your expenses) remains into your banker home equity line account to lower the home remodeling debt balance. Over time, you will be able to pay off your financing debts in half the time by budgeting and managing your banker home equity line. You can also use your banker account to finance other needs such personal debt, a new car, college and other.
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becoming a bank
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