Bank Equity | Slide 5: BLOC to Fund Needs

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— Slide 5: Using the BLOC to Fund Needs —

Let's Use Your BLOC Instead to Pay Home Improvement

Let's take the same example and use your BLOC to finance home improvement. Total cost: $10,000.

Your BLOC account would look like this:

BLOC Account Starting Credit Line Balance: $60,000
Date	From	To	Advance from BLOC	Payment to BLOC	Balance Owned
Aug Beginning Balance					$2500
Aug	BLOC	Pay Contractor	$10,000		$12,500
Aug	BLOC	Living Expenses	$4000		$16,500
Aug	Pay	Paychecks		$5000	$11,500

Total BLOC			$14,000	$5,000	$11,500

What Does This Show

	Balance Forward from July:	- $2,500 (slide3)
	An Advance from your BLOC	- $10,000
	Pay Living Expenses	- $4,000
	Balance Owned	- $16,500
	Deposit Payment	+ $5,000
	Ending Balance Owned	- $11,500

your starting balance was $2,500
your ending balance was $11,500
you financed the windows,
which saved you from taking on other debt
you never made a schedule payment to the BLOC;
your income represented your monthly payment
you borrowed $14,000 from the BLOC
you only pay interest on the $11,500 balance,
which included a credit card payoff of $3,500
(in this example, your avg. daily balance for the month would approximate around $13,000, which included the credit card payoff. Interest charges would be about $80-85 per month at 8%.

Without the credit card payoff charges, your avg. daily balance for the month approximate around $9,000. Interest charges would be about $60 per month at 8%).

let's review this further in the next slide

BANK EQUITY to manage money

[view]Introduction
[view]Slide Demo
[view]SL1: Summary
[view]SL2: Use as Money
[view]SL3: Deposits
[view]SL4: How to Use
[view]SL5: Fund Needs
[view]SL6: About %
[view]SL7: Emergency
[view]SL8: Get the Facts
[view]SL9: Be a Bank
[view]SL10: Next Steps
[view]BLOC for the Home
[view] 10-Step Success Plan

[view] Home Market Valuations
[view] LTV Calculation
[view] Home Page

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