$58,000 PAID OFF In 21 Months?? YES!

[@LearnwithLoriJill]

I've been doing this now a little over a month. I'm so thankful for finding you. I'm in commission sales, so it was a little more challenging to figure out. I have to stay on top of all my bills on daily basis, but I'm already feeling so much less stressed. I'm no longer figuring out how to afford CC minimum payments plus pay all the bills. I'm using your velocity banking to pay my bills and am blown away at how I see this working for me. 👏

[@VanntasticFinances]

Wonderful!!

[@MarkChandler-fb1fm]

Hi, Christy shows the total month income, how does it work if you are making weekly paycheck deposits? Thanks

[@buscandoelexito2022]

Christy is the best explaining velocity banking.....

[@johnpistilli4087]

Great point at the 10 minute mark. After 6 months he will see a big change in his finances. And then the snowball affect will kick in. Debt will start dropping off & he’ll really start to see the light at the end of the tunnel

[@barbaracarbone4658]

Truly amazing. I love seeing these examples. I'm in month #2 of my own Velocity banking and it's working! 😄

[@VanntasticFinances]

So excited for you!

[@jaymanwitt]

Thanks to seeing your videos, I applied for and got approved for a line of credit this week so I can begin my velocity banking journey.

[@VanntasticFinances]

So excited for you!

[@jaywand3395]

Thank you, eyes are wide open on this one. Thank you!!!

[@ComdrStew]

Wow! that is insane amount of debt. Actually the blue looks good on the video. It pops off the board better.

[@kevinkeys3578]

A gift from God you are!!!!! Have been a "dumb" petroleum engineer all my life (i.e., my monthly income into my checking account and then write checks to pay monthly bills!, etc. Rinse & Repeat!!!) Now, have tested & tested & tested Velocity! Numbers & Excel spreadsheets DO NOT fib! Thank you!

[@imeverywoman8747]

First, I want to say, "Bless you Kristy...you have blessed my life with your videos, and in return, I am blessing others. You can pay a loan with a credit card. My mortgage and car payments are through my credit union. I was able to do a balance transfer from my Bank of America Mastercard, and pay half of my car loan off. The balance transfer was 0% for 24 months with a 2% transfer fee. So, I have started the velocity banking method to pay off the mastercard...using your methods, I will lay off $10k in 4 months. ❤🎉

[@fearisasnare8468]

Thank you Christy! We appreciate all your efforts to help others to see there’s hope with their finances.🥰

[@justtalk6711]

You are a gem on KZbin. I am so thankful I ran across you

[@vintageleaf4115]

I actually like the blue best of all... easier to see.

[@patriciafernandez3429]

Wow that was amazing But my head is spinning I would need a 1 on 1 session

[@magicgirl77]

Yay! We just got approved for a $20k at 9.25%. I have only been watching you for 3 weeks looking for a better way, found you and have been running my #'s and now I need to know where do I start? Can you help? You are Vantastic! #thankyou #grateful

[@notmeee7302]

Know your income, know the total of all your expenses, and know your debt with your monthly payments. And then just copy what she did on the whiteboard. Write it down on a piece of paper Don't forget to add back your monthly payments into your income once you pay off/ roll it into your credit card.

[@jeneenharmon9741]

This is I think one of my favorite white board demonstrations! It’s absolutely incredible that most people like myself were not aware of this way of becoming debt free! I signed up for Fetch and I’m loving that tip to earn Amazon gift cards so I can use them at Christmas to buy gifts. You are such a gift to us Christy!!! THANK YOU ❤

[@louiseyvette2261]

Thanks Christy! From Australia

[@_bazzmuhammad]

Thanks, Christy! You rock 😀

[@sweet_gg9343]

Wow, thank you for this video, I have very little debt due to low income. However I need a newer car and will try this velocity banking for sure 😊😊

[@alissaroby7708]

❤ Thank you so much. God is really using you. I need your help desperatly.

[@VanntasticFinances]

Thank you for watching! Go to my website for services!

[@DTurk]

Appreciate these board's on any example

[@mgm3643]

I am new here I am learning I will keep listening thank you

[@vidamenne-thorpe3627]

Love 💗 that you explained why you changed ink color 😅 Thank you so much for your detailed explanations!!

[@VanntasticFinances]

😂 thanks for watching!

[@becca34746]

I’ve been watching these videos and slowly following the steps… it works!

[@VanntasticFinances]

🙌🏼🙌🏼🙌🏼

[@drel9765]

Thanks for taking the time to show how the numbers work! Although I understand it I appreciate seeing real life examples!

[@sandramckinley8929]

I just started applying this idea to my debts. I am excited to see progress!

[@VanntasticFinances]

I’m excited for you!

[@amymcneill3496]

You are awesome!! Snd you are saving lives!!❤

[@darrylscott740]

You are such a beautiful soul, who keeps reiterating that you don’t have to pay them! The Lord Good Lord has Blessed you and He will surly Bless you even the more!🙏🏾💯🔥

[@porterhouse7260]

And Boom goes the Dynamite!

[@stevemiller8952]

May God Bless You ABUNDANTLY For The Videos You Are Putting Out FREE. You are using the talents God gave you to do this. Again God Bless You, Steve Miller

[@EndureRacing129]

What if there aren't any offers to transfer balances to any of your open credit cards? Are you able to do an example when credit-cards don't offer balance transfers and you have a low cash-low amount?

[@Endeavor545]

I can see the blue color better than the other two colors…maybe it’s just me😂

[@lawron2]

😅

[@goinsvirginia]

Thanks Christie I am very encouraged I am in great shape Budgeting our money has helped alot.

[@micavawilliams6461]

Thank you so much. You are an excellent Teacher!!!

[@briancarman4066]

you are a great help have been following you for 4 months

[@jenniferw5095]

Thank you for helping people. My situation is not complicated and I have pit Velocity banking to work.

[@VanntasticFinances]

❤️

[@salishsilver8421]

Wow!! I'm so thankful to have found you!! I have 10k in debt and after watching your miracle work, I feel sooo much more hopeful that I can do this and pay down my credit card debt! Thank you again for being amazing and sharing your amazing strategy!! New subscriber here!!

[@orchidgirl05]

Thank you !!!

[@shyshy808]

God bless you. I love your videos and I can’t wait to start my velocity banking in a few months.

[@VanntasticFinances]

Excited for you!

[@Bamapride1985]

The months you are still paying the minimum fees on the outstanding so those balances are actually gonna be lower by the time it takes multiple months to get that payment also so with that and you adding the 5% fee, it should be even quicker payoff but does help to offset any unexpected expenses along the way

[@regdesousa9763]

I am feeling pretty dumb because I can’t figure this out !!

[@eleanormassaro5195]

Don’t feel bad. Every time I think I understand some points of this, then I get confused all over again!🤷‍♀️😂

[@sarita5572]

Keep watching and you'll get it. We've been doing this a year and it's amazing and works.

[@TheProCut17]

thanks for sharing your knowledge

[@TheBudgetLady133]

Wow this is amazing!!!

[@kerrytakashi12]

The one thing looming is if the credit card has limits reset. And if that happens, you are left with no cashflow because it is tied up in the card. A card that won't let you revolve and juggle payments because it is frozen. Also I've looked into a few financial companies, NONE Of them want to offer POC or HELOC. At a certain point, it is just easier to keep paying as much as one can on one card and chip away.

[@YouAREyoubeYou]

Why would a bank freeze your card? I don’t get what you are saying. I have 8 large limit cc and this hasn’t happened to me.

[@kerrytakashi12]

@@YouAREyoubeYou It depends on their criteria. You could be fine. Or they will reset your limit to an amount lower than you owe and freeze the account. Then you will just get a bill along with jacked up fees.

[@PattersonArtStudio]

Awesome!❤

[@Stone988]

I love these videos, just need to know how I can do this with out any line of credit or using credit cards. Thanks

[@cys1964]

I don't think that's possible.

[@desireejenkins9975]

Wow love ur videos.great strategy

[@t3134]

Greatly appreciate your content! I am eagerly awaiting a video on how you might recommend using these towards student loans. Your advice on that would be an answered prayer for many of us.

[@idalmycastro5323]

Hi Christy. I believe this video is the most close to my situation. Of course, my income is 3000.00 less, but even though I am going to try to work this out this way. I will keep you updated, but it would be great if you explain 2 o 3 more cases like this one. I believe most of the people are in this situation, and they have 8 o 9 credits cards full. Thanks again, and God bless you .❤

[@micavawilliams6461]

Thanks!

[@VanntasticFinances]

Thank you precious person!!!

[@jerrywagner2317]

That is awesome

[@ruthsnively7248]

God Bless you!!!!!

[@danielledantzler6373]

Best part she did not take into account minimum monthly payments so those payoff points won’t be as bad cause… 6 months of minimum payments make a small difference but a difference

[@spike238]

$44,833 total credit card debt , @ 18% interest , $4,110.29 per month is needed to payoff the balance in 1 year. The total interest is $4,490.47. , Tax should be calculated separately ,,, your welcome ,

[@shannonmcfadden6209]

Can you do an example where the pay is weekly instead of monthlh?

[@Will2FlyHigh]

This doesn't make sense. No reason to pay 5% fees to move balances from one credit card to another. He has the cash flow, so just pay off the other credit card dierctly. None of this is rocket science, and it's way overcomplicates things. He has the cash flow, so just pay down the cards one by one.

[@WeAreNotGoingBackEver]

I don't understand that either.

[@dianaboos5602]

@@WeAreNotGoingBackEver Smoke and mirrors. Takes advantage of people that really don't have a good financial ground to stand on. Follow Dave Ramsey, he is much smarter than this person.

[@earlsmalls]

This is what I'm doing. I have a PLOC that I paid my three credit cards with. Every week I'm going to deposit my income into the line of credit. I'm going to use a separate credit card to pay all my expenses for the month. When the bill is due on on the credit card I have the expenses on, I'll take the money from the PLOC where I have my income and pay off the entire credit card. By doing it this way the balance on my PLOC never goes up during the month because I'm paying my expenses on a separate credit card, so my income transfer keeps the balance down for an entire month without it going up little by little because im not pulling money out of the PLOC to pay expenses. I'm doing that at when the bill is due on the credit card Im using for expenses . Hope this makes sense.

[@earlsmalls]

@Jesus-kt5dc thank you and you just reminded me that the credit card I'm using for my expenses has cash back rewards. I can use that as a statement credit.

[@douglasriche78]

I was just approved for $20,000 credit card from Navyfed APR 18%. I really want to do this. I have watched so many of your videos. I get the process, I am just stuck on what to start with.

[@jenniferabbott976]

I’d like to add on to what was already stated that Christy has repeatedly stated in her videos that you should leave “room” on your line of credit for emergencies or any additional expenses that may come up. I do believe she suggested 20-25% of open credit. So, if you are going to do a balance transfer of your debts, you should leave the 20-25% open and leave enough space on the card to put your monthly expenses plus interest. Ex: 20k credit-20-25% open would be approximately $5k, leaving $15k to work with. If your monthly expense were say $4k, you could do a balance transfer of approximately $9-10k from debt and have approximately $4-5k for you monthly expense plus interest to go on the card. And because you are paying the amount you normally would pay for your debt payments plus your cash flow onto the line of credit, it’s essentially freeing up that same amount in the next month to pay those minimum debt payments of your expenses again. I hope I explained this correctly and this makes sense.😊

[@fasttimes1968]

Seems way more complicated than it needs to be. 1790 cash flow per month will start paying debts off pretty fast, without all this complexity. The cash flow is the reason the debt is being reduced.

[@VanntasticFinances]

Thanks for stating the obvious! The difference is with using a line of credit. He still has access to his cash flow. Thanks for watching!

[@earlsmalls]

​@@VanntasticFinancesthis point so many don't get.... Keeping access to your cash flow vs using the cash flow to pay extra and it's gone.

[@mariayelruh]

Once you get your cash flow up, would it make sense to pay off some of the smaller charges directly instead of transferring them? I realize that for some people need simplicity.

[@jefdby]

yes it seems like it

[@notmeee7302]

By putting them on your credit card, a couple things happen, you get any credit card rewards for them, it helps with their credit score to increase, and it helps with your utilization if You're still looking at that. And in effect, you are paying them off directly when their turn comes up. By chunking down big payments on your credit card, the 'cash back' rewards can add up big time and that goes right back on the credit card as a payment. Make sure you're using a credit card that gives you cash back rewards!

[@queeni9ja]

Can you get negatively affected by the increased utilization on your credit cards with VB?

[@Melissa-fu2vk]

What about when you have multiple credit cards, no loans, and no cash flow?

[@marcelagarigen8816]

Thanks for your videos. I’m debt free, what should I do now?

[@romang9629]

Build wealth and give!

[@philipwells720]

Can you please explain how you choose the order that you pay off the debts?

[@ebonywinn50]

I don’t have much cash flow after my expenses but that also includes savings for emergency funds and investing. Should we halt saving to have more “cash flow” to throw at the loans?

[@michaelcraig9227]

Thanks for all you do. I do have a question. I don’t see the monthly payment to the IRS which on an IRS installment agreement would be about $250. That might extend the payout by a few months.

[@VanntasticFinances]

He didn’t have an agreement effective at the time.

[@aimeedelephimne5663]

I was concerned about that too. 33 year IRS employee here. If he waits to address that $16k until several months down the road (as per the whiteboard), his tax debt will accelerate to collection status. This will increase the percentage rate at which his late payment penalty accrues, and his bank account may be subject to a levy. TBH, it's in his best interest to enter into an installment agreement ASAP and make the minimum IA payments out of cash flow until he can throw the remaining balance on a credit card.

[@jeremygroff6895]

Any recommendations for a place to get a Heloc when your credit score is fair but your equity is high?

[@psharpe730]

I have one question, did make a payment to all of the cards, etc on the left? Each one has a monthly payment and the total didn’t go down as if there wasn’t any payments made to them. I like the strategy but need that question answered.

[@steveaylor376]

Yes ... min payments till it’s time to pay that card off in full

[@VRachelPhoto]

My question is how would we transfer over every auto debit that we have for expenses during the month to a credit card? Example subscriptions, water bill, phone bill, and all the other credit card bills that come out of my bank account every time we pay off that card we have to switch it over again that’s a lot of switching of auto pays!?

[@jenniferabbott976]

Can someone please explain…..do you switch all your bill’s monthly payments over to the line of credit? Is that what she means about “expenses go in”?

[@notmeee7302]

Yes switch every monthly payment you can into your credit card payment. Most of the time you cannot do your mortgage or your card payments and that's why that amount is deducted from what goes into the credit card because you have to pay that directly from your bank account. Unless you're credit card has convenience checks which mine does! So I'm able to chunk down more of my credit card balance and get more cash back benefits by putting my mortgage into it!

[@Risingmoon8]

I think in this example he does not have a line of credit and they are using the credit card in its place. That is why she has figured in transfer fees. This card must allow other credit card balances to be transferred in.

[@conniec1678]

Please explain the transfer process to pay off the credit cards. Do u transfer money from the credit card to the bank to pay off another credit card or do u call the credit card company to transfer funds to the other credit card your paying it off ?

[@steveaylor376]

Yes I’d like a clarification on this as well

[@Dimeintharuff72]

Can you do a video on how to do chunk payments? I have a high interest card to payoff but I don't want to put all my income in the cc and they close the account or decrease my limit.

[@sustainablelife1st]

I'm doing your system. But in my case, even if I put 100%of my check to credit, even with zero expenses, it would still take me over 3 years to get debt free. I've run my numbers, and it will take me about 20years using velocity even with no new purchases. (Lost my job was unable to work for 6 years due to health but not eligible for disability, so debt piled up). Doing the balance transfer method. Sometimes they pull the offer for a while (discover, Citi, boa). But bt's have been my salvation.

[@MilesandMoneyMatters]

Hello, I am not following the math. His income is $7,100 but only $3,467 went in to reduce the $10,400 credit card balance! Why not $7,100. Thanks

[@sofondadavis5028]

You don't have to figure the interest the bank does that. Christy shows it so you can understand the whole process.

[@rickgasbarro9435]

Christy, I want to know if there is a certain order you use when deciding what bill to pay next, there didn’t seem to be an order to follow as you bounced through the list. Thank you Rick

[@eleanormassaro5195]

I think she started with the credit card with the highest balance

[@truthistheKJV]

Could you do a video paying off a mortgage using velocity by taking sizable chunks like $10k at a time vs larger chunks like 50k or more at a time using a heloc or ploc? Is there a significant time time difference in paying off the mortgage by using the smaller chunks?

[@cys1964]

She has a video explaining exactly that. You might have search a bit to find it.

[@WeAreNotGoingBackEver]

I'm confused. In month one, you paid $3467 which included his expenses, and then another $1385 (his monthly expenses) plus $211 for interest? Why? I'm sooo confused. I can't get beyond trying to figure out this part to move on with the video. LOL

[@notmeee7302]

The $10,400 is the balance on the credit card. So she 'paid' her monthly income of $3,467 onto the credit card. So instead of her monthly credit card payment she chunked her whole income of $3,467 on the credit card either in one lump sum payment or throughout the month. That's why there is a subtraction because you put that chunk of money on your credit card: you have reduced your credit card debt by that amount. Then she added back in her monthly expenses $1,385 as all of the monthly payments that are now automatic payments on the credit card are added back into the balance on the credit card.

[@jenniferabbott976]

What would better to implement velocity banking: a $23k cc or applying for a heloc? We have approximately $70k in debt, other than our mortgage. The credit card is available now. We'd have to apply for a heloc but we have $100k value in our home. Just not sure if we should waste the time applying for a heloc when we could use the cc.

[@alisatjaden3906]

I'm no expert on anything, but I've been there. Personally, if a 0% balance transfer CC was available I would go that route. With a HELOC you could lose your house.

[@jenniferabbott976]

@alisatjaden3906 Thank you for the advice on a 0% cc but this reply didn't answer the question. And Christy, as well as many of the people who do velocity banking, use a heloc

[@VanntasticFinances]

You should transfer any interest bearing loan amounts possible to a 0% WHILE applying for a HELOC. Then use the HELOC to pay off remaining debts. The reason I prefer VB with a PLOC or HELOC is due to ALL income and ALL expenses can be used through them. Not so for the CC.

[@jenniferabbott976]

@Vannfinances perfect. Thank you Christy!!!! Makes sense.

[@thewealthgapcloser7430]

These videos are great and I love them! I’ve been binge watching since finding your channel! QUESTION: would you recommend paying rents on the credit card monthly if they charge me 2.5-3% for each transaction? Similarly, are you adding in the fees that utilities and other bills charge for using a credit card? Thanks so much in advance!

[@VanntasticFinances]

If you’re using a cash rewards credit card it may benefit to use credit card for all mentioned. IF you’re getting cash rewards 😁

[@Gildedgourmand]

I’m a little confused. Can someone help me understand this better? So when I get paid, I keep my car and mortgage payment in the bank and pay the rest to my credit card? And then charge the rest of my bills to my credit card? And do the same thing the next paycheck?

[@VanntasticFinances]

Sounds like you understand!

[@Gildedgourmand]

@@VanntasticFinances thank you!! Going to try this out with my next check🙌🏽

[@littlecupcakespuppies]

What do you mean the 5 % fee in case the bank charged that? do banks charge 5% fees for paying off credit cards?

[@alisatjaden3906]

5% for balance transfers to cash back, 0% internet cc

[@Baydon2008]

I have just sold my house and we are going to buy a new one shortly...so have a good chunk of money in bank but not enough to buy another house. So should we get a mortgage line of credit or a mortgage and a line of credit?

[@VTatum-x4k]

When you ducted the car loan do you show it coming from the credit card? I am trying focus really hard.

[@stevenjames7667]

We are needing money and want to know if Unlock HAE is a good place to start?

[@SamIAmJam]

That’s how my bills are looking.

[@maidtogousa9637]

Hello Kristi How can I get a private consultation with you? I really need help

[@VanntasticFinances]

For 1-1 Coaching: calendly.com/vanncwi Thank you!

[@marlysmithsonian5746]

governor diisantis has approved 36% interest for Florida. What do we do now?

[@ricreed8423]

How do you go about paying the other credit card payments? Can’t make a monthly payment with a credit card can you?

[@ChristineGodbee]

Maybe I missed something, but where is that extra money coming from to pay off the smaller cc and the car? It looked like the amount of the payment didn’t decrease, so I’m wondering how this works.

[@KitKat10281]

If you can't pay a car with credit card, how did you pay off his car?

[@franceswashington6178]

I thought you couldn’t pay a credit card bill with a credit card.

[@alisatjaden3906]

Balance transfer for cc to cc

[@InJusticeAustralia]

can you please explain why mortgages and car payments can’t be paid through a credit card??

[@BodaciousWench]

$1385 is $1790 minus the credit card payments?

[@AA-rz1wr]

so is Cash flow figured into any of this? What does she recommend you do with the cash flow? Thanks

[@WeAreNotGoingBackEver]

Christy when you say "pay off American Express" do you mean you transferred the balance onto the initial credit card that had the balance of $10,400?

[@michellemorris4530]

I-think this is so late however I was rewatching the video and ran across your comment/question, I think because he had to leave money in the bank for his mortgage, car, etc… at least this is what I was thinking could be wrong though, gotta keep watching, and this was all that he could charged to his card, plus his cash flow, then as he paid off his debts they would be added to the cash flow and deducted from his expenses, again that is the way that I see it. 😊

[@dajoremarks9137]

This my question Christy & I'm sure this is from not watching enough videos yet. But while paying these things off do we have money to spend in between

[@JH-hc5dv]

I thought you could not pay car notes with a credit card?

[@avonsergeant3577]

what is that first amount of $3467 that was subtracted from the $10400.00?

[@teacherdaphne8786]

Hi sister, I've watched a few videos and the part that confuses is when i put my paychecks into my credit card i want to work down vs. The cc minimum payment due date. E.g. if i put my paycheck toward it before the due date then whrn the due date comes i haven't satisfied the minimum and will still need to pay it. I may have missed it if you said it and will watch this one later. God bless

[@fisherlady408]

Kristy. I don't work anymore due to disabled husband. He gives me money each month for me to pay bills etc. Can this be counted as income?

[@greecemonkey1313]

How do we make payments to companies that wont except CC payments

[@greecemonkey1313]

Thank for all of you information ....