Human Limitations To Overcome

Self-discipline is necessary for the concept of Becoming Your Own Banker to work. We must overcome some human factors. C. Northcote Parkinson pioneered Parkinson's Law. He states:

• "Work expands to meet the time envelope allowed." (Give a person a project to complete in three days and the project will get done on the third day)
• "A luxury once enjoyed becomes a necessity." (Can you remember when we did not have air-conditioned automobiles? Would you think of buying one without it now?
• "Expenses Rise to Equal Income." When we receive a pay raise or find additional monies, they become very quickly absorbed by a new definition of necessities.

When you reduce debt, it will increase your cash-flow. How you treat these additional monies will depend on whether or not you have overcome Parkinson's Law. If your expenses rise to equal the increase, you are giving in like the vast majority. On the other hand if you make believe that this increase does not exist and you save it, you are in the minority of people who succeed financially.

• When asked why he kept robbing banks he would say: "That's where they keep the money."
• Wherever wealth is accumulated, someone will try to steal it.

Who is the biggest thief in the world? If you said the I.R.S. you were right!

Accumulating money out of Willie Sutton's reach will prove to be more important than the rate of return on a taxable financial product.

You need to have an open mind and be willing to learn to succeed financially. Ideas that worked in the past may not be working today. If your knowledge about money turned out to be wrong, when would you like to know about it?

The Becoming Your Own Banker concept is a new paradigm. It may go against conventional wisdom on the money concepts that are not working today. So, having an open mind and allowing yourself to make paradigm shifts will greatly increase your chances for financial success.