Mr. Sutton was a notorious bank robber during the 1920’s and 1930’s. He was asked why he continued to rob banks and his famous reply was “That’s where they keep the money.” So, Nelson’s take on Willie Sutton’s Law is “wherever wealth is accumulated someone will try to steal it.”
R. Nelson Nash took a page in Becoming Your Own Banker to write about lessons learned or “Laws” that one faces daily, which Parkinson wrote of in his book. These laws boil down to human tendencies, which must be overcome for you to be successful practicing the IBC.
It seems like a foreign idea to pay interest for the use of money when you could pay cash. Why would I ever do that? It’s my money and I can use it how I see fit. No doubt you have the choice to spend your money how you like and treat it as a loan you wish to pay back to yourself or just as cash that comes and goes.
Yes, that’s the short answer. You need to understand what is going on though to be able to determine the answer to this question for yourself. After all, if there is no problem then what good is a solution?
You’ve been practicing what the popular financial entertainers preach on the radio and can’t understand why you’re barely getting ahead. You keep thinking: What am I doing wrong? Could a potential problem be that you’re relying on third parties to finance your life?
Where is your money currently flowing to? Agribusiness and farmers/ranchers often have a lot of money tied up in equipment, land, seed, fertilizer, livestock, buildings and other supplies. What about the money that will be used to purchase these things in the future though?