Q&A YouTube 7/22/23

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[@jermaineshorter35]

Introduced a family member to velocity banking with their $17k car loan at a 24% interest rate. Used a convenience check to move $6k to a zero percent credit card (5% transfer fee) for 12 months and applied the $6k to the principal. Results- Cost was $320 for the transfer fee, saved $11k off interest and reduced the loan repayment timeframe by 3 years. Another proven win for velocity banking. Thanks!!

[@VanntasticFinances]

Wow! Thanks for sharing!

[@cindyt3416]

❤❤❤❤❤

[@bumpythomas6932]

Hello there. I'm looking for a life guard cause we're drowning in debt. Can you make an example video for me with no cash flow maybe $-1300. 2 vehicles above $700, 6 cc's maxed high $15,000. Low $2,500. Expenses around $7438 income around $6900.

[@Binahtiyah]

I had prayed for a solution to figuring out my finances. I’ve always been good with money but couldn’t figure out why I was still in debt. Thanks to you and your videos, your explanations were and are golden. I’ve shared it with family and friends and I watch each video you put out. So thank you for sharing your knowledge.😊

[@johnpistilli4087]

Cant thank you enough, kid for putting out this info to the world. You've changed hundreds of lives for the better. Keep slaying, queen!!

[@VanntasticFinances]

I appreciate that! So kind of you…God is good!❤️🙏🏻

[@user-lz5cp4oi4n]

Am so thankful to have found you (only wish it had happened decades ago!) IT (velocity) is just math - hidden from all of us & in plain sight! IT works perfectly!! Thank you!

[@VanntasticFinances]

Welcome aboard!

[@paulwenzl1711]

I share this process with my kids and show them my actual pay off strategy thanks to you and they get it!

[@VanntasticFinances]

🙏🏻❤️

[@featherpayne]

I know at first the credit card transfer thing confused me too. Then I realized that at my credit union I could put my checking account and routing number down that is tied to my visa ploc. So for the accounts that I cannot pay with a credit card I can pay with that checking account. I am doing this slow so I can ensure I am controlling everything but already I can tell a difference. This is very hard to do with two people using the same account. Since my checks pays most of the larger bills I am only working with it. I am not taking in account most of the regular monthly bills that can be paid with my husband's check along with daily expenses. I chose a ploc over a heloc because we only have about 90k of debt and my house is at 3% and we are 8 years in so the blood suckers have already gotten most of their interest. Once I get everything else paid off I'll start working on the remaining balance.

[@MrTexaninNC]

Blessed is he for sending your video to me and my wife

[@VanntasticFinances]

Praise Him!

[@heavenbound7]

Psalms 106:48 KJV Bible Blessed be the LORD God of Israel from everlasting to everlasting: and let all the people say, Amen. Praise ye the LORD.

[@cindymilner570]

Thank you for the clarification.

[@mikegower2419]

You do a great job! God bless you and all that you do!

[@VanntasticFinances]

Thanks Mike!

[@Jan-2020]

Great video Christy. It is nice to have questions answered for everyone watching.

[@VanntasticFinances]

Glad it was helpful!

[@sallywhite1012]

Thanks for sharing. Watching from South Australia

[@VanntasticFinances]

Wow! Thanks for watching!

[@kevinmoore9524]

July 24, 2023 Thank You. GOD Bless You.

[@Me-MyArmy]

The income transfer was getting me too, thank you for clarifying 🙏🏾

[@VanntasticFinances]

Happy to help!

[@bigj3339]

@@VanntasticFinances …… another great video! Do you have a video on how credit card interest is calculated?

[@sarahrios4530]

Im excited to get started and show my kids !!!

[@barbaracarbone4658]

This is my 2nd month using this method. I do see a difference for sure. Sometimes, though, I still get confused. Lol. The old ways are so imbedded. Haaa. I love your suggestion to use convenience checks as a way to transfer other debt to a credit card. Especially when u suggested to write the check out to ourselves and payoff what we want!! Ingenious! I was offered those checks so many times but always said no thanks. Now I know what to do with them. Thanks Christy. This is life changing! Thanks sooooo much. ❤🎉😊😊

[@VanntasticFinances]

Thank you so much for your kind words, and for watching!

[@DonPasco]

Hi Christy, Thank you for clarifying (answering) my question. I apologize for not picking up on that. I too am loving your information/videos. 🙂

[@VanntasticFinances]

🙏🏻

[@innerself3796]

Another great video. Thanks

[@dameline3355]

Thats right, thank you so much, I have been doing same.

[@shirleysimons4735]

On my second month and I see that i should clear the debt next month on the third month. I will then move on to the next bill which is about $10,000 total. Thanks again and God Bless!

[@richruelas]

Great video Christy! I enjoy watching your videos because your break down everything and explain. I get even more inspired and learn something new that I may have missed as I continue watching. And I really appreciate that you answer questions when submitted here. I am ready to go next month with velocity banking. I am late into the game just like you were. God does promise to turn our mistakes into blessings though (Romans 8:28) is one of them. Thank God and Thank you Christy! Blessings

[@erdemir38]

Awesome video. Thanks a lot.

[@VanntasticFinances]

You are welcome!

[@floridian3757]

Hi Christy, I recently found your videos and I am loving them. I have REVIEW so many of them to make sure I follow the way you explain it. I don't have a way to get a line of credit right now but i do have a credit card that I am planning to use for the same purpose. I'll let you know how it goes, THANK YOU SO MUCH for all you are doing for us !!! MAY GOD CONTINUE BLESSING YOU !!!

[@VanntasticFinances]

Thank you so much!

[@mariayelruh]

There are lots of ways to cut your food/grocery budget. It's not easy, but it's not just beans and rice 3 meals a day. Heck you can have oatmeal for breakfast ;). Stock up on good sales, cut waste and switch some higher priced ingredients for lower cost ones. Knowing your prices really helps.

[@hangemhigh3578]

If people knew how easy it is to make your own bread, mayo, baked sweets, yogurt, cheese their grocery bill would shrink exponentially. So much time wasted chilling in front of the tell lie vision.

[@VanntasticFinances]

So true!

[@stayinyourlaneaudits5213]

Could also start fasting every other day, two, or even three days a week. That definitely cuts your food/grocery bills.

[@sustainablelife1st]

Thanks, CC >> CC is my biggest question re VB.

[@louishansen3900]

Sending love your awesome

[@maryharvey7434]

Thank you for clarifying about paying credit cards. I did recently get a couple of 0% credit cards and transferred my highest-rate credit cards. Interesting question about groceries. It got me thinking and, I am going to figure out how much I am spending on groceries. Thanks again.

[@VanntasticFinances]

Glad I could help!

[@andreyemelyanenko5230]

Thanks ❤

[@VanntasticFinances]

You're welcome 😊

[@CLINTSTER77COX]

I have 2 loans totaling 16k the issue is they take payments from my paycheck before I receive it . One of them is a 5k signature loan . I am thinking of living off a new zero balance credit card for a few months and save the cash in bank to pay off the signature loan. However the larger car loan looks more tricky to me .

[@Dimeintharuff72]

Can you show how to do chunk payments on a high interest credit card.

[@gretaworship1989]

Can you still start infinite banking if you are in your 60’s? I just listened to Nash’s book and he said it takes 20-25 yrs to really reap benefits - signed, Late Bloomer

[@MJYouAreNotAlone1]

🙏❤️

[@sharengartell3336]

Hi Christy, Could you talk about zero percent credit card strategies? I have heard you mention moving credit card debt from high interest cards to zero interest cards and let it sit there until you're ready to address the debt. Could you explain what you mean and show us what other debts would be addressed before those that we move to a zero card? Thank you!

[@hannahmanager7646]

Hi Christy, Id love to know what I can do. I want to save money too, I have a car payment with a 1.5% interest, a mortgage, I pay off my credit cards every month on the last day of the statement date, so that the creditor reports a zero balance every month, even though I may run up several thousand every month. I have several credit cards to get the highest reward value per category, and Im kind of stuck. What else can I do, or should I do if I have a 1.5% interest already, can I still save more? Oh and I have no other debt, just 1 car, and 1 mortgage. Mortgage I believe is 3.5%.

[@charlz7777]

Thank you for your video, I am sharing your channel with friends and family! I have a 5% apr auto loan with payments of $500 per month and a balance of about $10,000. I also have consolidated all remaining debt (about $5500) to a 0.00% credit card, which will be at this % rate for another 16 months. I don't have a mortgage, so would getting a HELOC on my property to pay off all debts be the best thing to do at this time? My credit union charges about $1500 to get this line of credit and some of the cost are loan origination, appraisal, and closing cost. Thank you, Charlz

[@user-bw8oq6ic8m]

I'm trying to do VB but I only have 2 credit cards. Both are close to their limits so I can't transfer 1 to the other. I have made some prgress on 1 of the cards and have just been making the minimum on the other. Could you show a scenario of how to go about the process with this type of situation? Also, I do not own a home and given my debt to income, I do not qualify for a PLOC. Thank you for your video! I have learned alot and feel inspired every time I watch you! Paula

[@VanntasticFinances]

Hi Paula! I have a NEGATIVE CASH FLOW title in my Playlists. Check that out and see if any of the videos relate to your situation.

[@edmump]

What's difference between credit card and line of credit

[@Neuromancer78]

I chose to say no to the mortgage and yes to a HELOC. So the full cost of my home is on my HELOC. I have no other debt and am using velocity banking to pay it off (This is all thanks to your videos!!). My question is, since the interest on the HELOC is charged based on the average balance of the HELOC throughout the month, is there a BEST day to pay my monthly credit card bill?

[@ItsWolfGamer-bo6zf]

Your plan sound great but I’m stuck on where to start when I have over 10 credits cards to pay and I have already been denied for a personal loan. Do I not need to get a ploc for my full amount of debt?

[@vettedsin]

im sorry. i had to scream laugh when she said 8 or 10 kids with a total poker face and no rise or fall in her tone of voice lol.

[@anthonyrodriguez243]

Where to start could u assist with this? Thank you very much for your videos

[@heatherdm626]

Who can I go to for a fixed HELOC that is revolving?

[@conniec1678]

So to pay off several credit cards , you transfer them to another card

[@andrewmulligan1085]

I have two cards off 5000 each but don’t have a mortgage payment what is the best way to clear them off

[@jeffbooth1849]

Hi my name is Jeff thank you for your information

[@VanntasticFinances]

You’re welcome, Jeff!

[@ginafumi3010]

Renewing our minds 😍😍😍😍

[@VanntasticFinances]

❤️

[@arleenmarino9993]

How do I pay my bill's from my credit card?

[@user-he1me3mf4l]

Thank you so much for all that you are teaching us. I truly appreciate it. When is the best time to make a payment, when the payment is due, the statement balance date or before each of these?

[@VanntasticFinances]

Thank you! If you can make multiple small payments throughout the month to meet amount due, then 3 days before reporting date to increase credit score.

[@juliem2538]

@@VanntasticFinanceshow do you know Reporting date?

[@VanntasticFinances]

@@juliem2538 Ask the credit card company

[@tpayne7635]

Not sure how to pay my student loan with velocity banking. Help please

[@arleenmarino9993]

I have a 0% credit card so if I put my expenses in then what?

[@kskorner74]

i went to my credit union and asked for a line of credit, and was denied, because they kept turning it into a loan

[@67chelle]

Isn't writing a credit card balance transfer check to yourself considered "cash Advance"?

[@marthafreire6792]

Could you explaine how it works the Heloc with interest only

[@VanntasticFinances]

Same

[@cherrytulip6541]

If we make as many payments as we like to the credit card during the month, are we still going to get a statement with a payment due at some point during the month? I am worried about transferring all the money and then getting a statement with a payment due at the end of the month

[@heidischmall8901]

You need to know the statement closing date. It’s usually 3 or so weeks before the payment is due. If you make a payment the day before the closing date (but after your payment due date) then, yes, you will still have a payment due. I made this mistake once - ugh! If you make the payment the day after the closing date, then that will take care of your next months payment. You need to know the dates for your account.

[@rareseason]

Thanks for that information!

[@FrugalLivingLifestyle]

Can you pay your utilities bills with a line of credit?

[@VanntasticFinances]

Yes

[@Shining_Brightly]

If I overdraw my checking account, my bank will charge it to my credit card with interest at the "cash advance" rate (23.49%) but with no cash advance fee. I know you say to avoid cash advances, however I don't see any difference between this scenario and a 30% line of credit. Am I missing something?

[@VanntasticFinances]

It’s not an overdraft if the line of credit is linked to your checking

[@luisnava3239]

Is my case a lost cause? I have 5 credit cards and all of my income goes to paying those throughout the month leaving me with very little wiggle room for anything else. Do I have to just slave away for decades to come to pay them off or is there something I can do to help my situation? Thank you for all of your content it all is very helpful I just havent figured out a plan that works for my situation.

[@earlsmalls]

Send her a worksheet of your monthly income and expenses so she can give you a recommendation. She has a worksheet that you can request from her. Hope this helps.

[@luisnava3239]

@@earlsmalls Thank you for that info. I didnt know she could provide a worksheet

[@user-he1me3mf4l]

Can you pay life insurance with a credit card

[@VanntasticFinances]

Depends on the company

[@sylvester7320]

My house is pay off but I,m in bankruptcy 3yrs. can I get a loan and pay off my bankruptcy .

[@VanntasticFinances]

I would think so🤔

[@mariaameliacalderon6552]

I have tried three times for a home equity line of credit, and all they want to give me is a refinance they keep telling me that they do not do home equity line of credit

[@VanntasticFinances]

Then go to another bank…

[@russellbess1774]

U can't, I know for a fact bc I've tried bout dozen times in last 15 yrs and been denied! ( Fact ) not opinion

[@mommyy8690]

You said that you can make as many payments on a card as you want but my card only always 4 payments in a 30 day period and will not allow me to exceed that. I have tried several times. Is there a way around this?

[@VanntasticFinances]

Really?? No, I’m sorry…I’ve not heard of any cards with restrictions except Credit One.

[@mommyy8690]

@@VanntasticFinances Thank you so much for replying back. It is Credit One

[@denisedavis442]

Wells Fargo is another bank that will only allow 6 payments per 30 days.

[@stayinyourlaneaudits5213]

I found that out with Credit One as well. Now I just use them to generate enough cash back to pay for the annual fee and pay off the balance every month.

[@stayinyourlaneaudits5213]

You can use the express pay to get around it but that has a $4.95 convenience fee.

[@bumpythomas6932]

Hello there I am looking for a life guard cause we're drowning in debt. Income $6900 debt $4523 expenses $2900 with no cash flow. Robbing Peter to pay Paul.

[@Michael--Hubbard]

Tic toc link?

[@NanaLuMakesCreatesInspires]

I'm sort of understanding the concept but can't understand how and when to transfer my income if we get paid once a week. Expenses fall on different paycheck days and ???😵‍💫🫤.. I'm just confused.