Legacy Spartans

𝗪𝗼𝘂𝗹𝗱 𝘆𝗼𝘂 𝗿𝗮𝘁𝗵𝗲𝗿 𝗯𝗲 𝘁𝗵𝗲 𝗽𝗮𝘆𝗲𝗿 𝗼𝗿 𝗿𝗲𝗰𝗲𝗶𝘃𝗲𝗿?
A family bank is a private financing system where family members make a lump sum or monthly contribution to create a capital pool controlled by the family collectively. Individual members of the family group can tap into this capital to finance purchases that would otherwise be funded using a credit facility. The terms of the loan, including repayment and interest, are decided by the family as a collective. Interest on family bank loans benefit the family’s capital pool rather than going to a third party. Therefore, the family is on the receiving rather than the paying side of the financial system.

A family bank is a financial vehicle that allows a family to use the same methods the formal banking sector uses to create wealth through debt. Most importantly, the family bank provides a safe and controlled environment for all family members to learn, implement, and practice the skills needed to become financially literate and competent.

Facts 🔥