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hi folks welcome to Oregon cash flow Pro I'm your cash flow consultant James barber and I'm here to help you take control of your finances in today's episode we're gonna be talking about how to beat the bank with dynamic banking dynamic is a processor system characterized by constant change activity or progress that's what characterizes how we use the banking system we need our money to work for us constantly not sit in the checking or savings account earning nothing and just benefiting the bank so dynamic banking is a process that maximizes your cash flow to eliminate debt grow assets and stockpile reserves now with traditional banking as you can see any cash flow that you you can either put it towards debt or you can put it towards savings if you put it towards savings you're gonna keep paying on the debts and you're you're gonna end up paying the maximum interest charges if you decide to put all of your extra cash flow into savings you're not doing yourself any favors of paying down your debt and on the flip side if you put all of your cash flow towards paying down the debt if you come upon an unexpected emergency you're not gonna have access to that money in order to stay out of trouble with dynamic banking we get the best of both worlds we saved for emergencies and we're paying down the debt how does that work utilizing lines of credit with lines of credit you're paying down a debt but it's a revolving account you still have access to all that credit that you've paid down so if you come across an emergency and you cover it with a credit card you have to write a check you can do that out of your line of credit business owners and investors can use dynamic banking to rapidly improve their cash flow acquisition pace emergency preparedness debt to income ratios total debt load and interest costs now how do we beat the bank there's it's a three-step process first you've got to optimize your credit profile - we're gonna leverage that credit to access capital by way of lines of credit and three we're going to use what we call debt elimination banking tools to maximize your cash flow so with dynamic banking we flow all of your income all the money you get in one in a month through the debt elimination banking tools we do not want your cash to sit idle in a checking or savings account okay so here's what it looks like dynamic banking with a home equity line of credit you've got your income normally it might go to a savings account or a checking account or you might go right to debt we're not gonna do that we're gonna put your income right into the home equity line of credit and from there we're gonna deploy it into investments emergency funds vacations life insurance policies cash value life insurance policies and retirement accounts and your debt of course so we can do everything with a HELOC that we could with a checking account now let's talk about the debt elimination banking tools holes and see how those work those are the keys to success with dynamic banking now remember we first talked about optimizing your credit if your credit is not good you may not have access to unsecured lines of credit and that's okay we can still make this work you can get secured lines of credit credit cards base those can be secured or unsecured ideally we want them to be unsecured so your consumer credit cards if you start off with secured we're gonna improve your credit and ultimately get you some unsecured those who usually offer the best rates and that best rewards secured personal lines of credit same thing you don't want to tie up your assets by pledging them to a bank so we want to work towards getting unsecured personal lines of credit unless it's a home equity line of credit home equity line of credit typically offers you the lowest rates available so home equity line of credit is a secured one but that's an okay secured line of credit you get you tend to get the most access to the highest balances and it can help you knock out debt really quickly cash value licensure ins it's not quite as liquid as a line of credit but it has its purposes that's cash value life insurance and retirement accounts both of those can be used they're just not revolving accounts and so we have to use them in a different way and that's something we'll discuss in another video if you have a business you have access to business credit cards and business lines of credit if you have the choice between using business credit cards and business lines of credit and personal go with the business it doesn't show up on your credit report if as long as your credits okay and you're not trying to rebuild your credit utilizing your business credit cards in your business line of credit is optimal because it won't show up on your credit report it doesn't matter what your balances are it's not gonna hurt your credit score's and it won't hurt whatever you're trying to do in your personal life when anybody has to check your credit these don't show up there so these are your debt elimination banking tools home equity line of credit is the gold standard cash value life insurance or retirement accounts can work in conjunction with that to help you grow your wealth you can also use them to eliminate some debts but those are more the grow your wealth these appear credit cards lines of credit those are attack your dad assets thanks for watching stay tuned the next video we'll go over a specific scenario using dynamic banking and attacking some credit card debt auto loan and a mortgage and see how quickly we can pay those down be sure to LIKE the video down below and subscribe to our channel and we will see you soon