26 YEARS?? To Pay Off a $13k Credit Card?? NO WAY!! Not With Velocity Banking!

Рет қаралды 13,437

Күн бұрын

Пікірлер: 89

@KB-le7jb 6 ай бұрын

David Ramsey made me feel stupid and guilty. Velocity banking is working for me. I am seeing my debt shrink every month.

@ms691496 6 ай бұрын

I started out long ago with Dave, but as time went on I learned from everyone and adapted what I needed from many different people. Dave is for shock value, he scares people straight, but I found it hard to follow long term

@JamilaJibril-e8h 6 ай бұрын

Magic ✨😂

@refjenn1405 6 ай бұрын

Same!

@ysareyes 6 ай бұрын

Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult

@kabengele-vo4dr 6 ай бұрын

People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.

@ZoltanKen 6 ай бұрын

Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.

@datguy82 6 ай бұрын

Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things

@MianHussnain-tu1wi 6 ай бұрын

Sounds interesting. I was planning to invest some few £ in some coins, stack them up and leave them for a few years, but seeing this changed my mindset. Thank you very much

@vanillatgif 6 ай бұрын

Any specific guide. I'm from Georgia how do I go about this? I think I'm interested how can I get in touch with Mr Brian Nelson

@scootermason2746 6 ай бұрын

I’ve been watching this for 6 months and we are starting month 2 of VB. Trying to get rid of 1 CC. Lots of our utilities won’t except Credit cards and if they do they charge more so we’re doing a hybrid type of VB by keeping the utilities, insurance and house out of Checking and the rest is VB. Starting with $15K we should be done in 13 months. Still works.

@tynkrbel201 6 ай бұрын

Yes ma’am, tithing and offerings is THEE first thing that comes out as soon as I get my paycheck!!

@_Island_Boy 4 ай бұрын

A lot of folks make errors in velocity banking thinking that going to a credit line or credit card with a larger amount than how much they make would imply they can spend more. That couldn't be further from the truth. The line of credit amount is to elminate other debts while eventually creatig cash flow from existing income. This means, the current amount of expenses determined prior to starting from velocity banking should remain the same AND eventually start to decrease. I can fully attest that velocity banking works but it doesn't provide MORE money, it provide logics to a financial debt reduction process.

@RedDragonProtection 6 ай бұрын

I used to be scared of credit cards until recently when i realized how good they can actually be. I lost out on years of opportunities by not having one before. Now, every year, i get a new zero % interest card with rewards and never hold a balance.

@JamilaJibril-e8h 6 ай бұрын

Tell the people which cards you use .....

@RedDragonProtection 6 ай бұрын

@user-ec3rm9wr1n ... I just search best rewards and use them... I like Citi, Regions, Ink. All have been great. So far, I don't like the US Bank, but they gave a great welcome bonus. I use Citi for Gas @ 5% rewards Regions for Groceries @ 3% rewards Ink for Walmart @ 1.5% rewards I use Regions attached to my checking as a free overdraft protection, allowing me to pay anything on a credit card. Keeping a low balance in my Regions account, making any ACH payment drop straight to the credit card. (No extra rewards points as a cash advance).

@vanessacouve8847 6 ай бұрын

Thank god I found you Christy xx

@jher-e6i 6 ай бұрын

Right on. Tithing is understanding where your help comes from. You are the best.

@juliem2538 6 ай бұрын

that's right Christy, pay extra into principal is a one way street. No access if an emergency happens. With a line you have a safety net. Breathing room if something happens.

@chandler6056 6 ай бұрын

Don't you build up an emergency fund before you start paying down debt?

@juliem2538 6 ай бұрын

@@chandler6056 no, you shouldn't park money in the bank earning nothing when your have debt that you are being charged interest on. The line of credit is your emergency back up, and your motivation to get it paid off... no minimum payments allowed with VB... put as much of your income on the line that you can. Then charge whatever can onto a line or a credit card to be paid in full from the line.

@Jesus-kt5dc 5 ай бұрын

@@chandler6056No, the line or multiple lines are your safety net. The peace of mind comes from the fact that velocity bankers understand money into a line is saving you interest and the ability to reuse dollars. Have a great day.

@StephanieMartinez-uk6jz 6 ай бұрын

Agree with you 100% I did Dave Ramsey too - treading mud. I am very excited about what your doing!!

@suziehappy29 2 ай бұрын

I’ve watched you a while and truly convinced. This is so great.

@BrendaHouston_ 6 ай бұрын

I’m just had a duh moment listening to you and I thank the Lord. I have a pledge loan. All I need to do is put the money in that loan and it will come back out then pay these high interest credit cards off.

@tammyebconquerncare1018 6 ай бұрын

How? With a pledge loan. Pls explain I have one

@Jesus-kt5dc 6 ай бұрын

@@tammyebconquerncare1018Does navy fed give you your money back every time you make a payment? Or do you have to pay off the entire loan balance to get your money back?

@BrendaHouston_ 6 ай бұрын

@@Jesus-kt5dc whenever you make a payment it goes into your savings account within 2 to 3 business days.

@antoniobarbour6995 6 ай бұрын

First I love your content and I am learning a lot about velocity banking. I also understand Dave Ramsey philosophy about the debt snowball and using all extra money to pay off debt. I use the debt snowball and working extra hours to pay off 200,000 dollars in 6 years, which took a lot of discipline. I don’t think you need to discredit other strategy to make yours seem better. I would say either one velocity banking or debt snowball takes planning and dedication. Thank you have a great day.

@barbie62bj 6 ай бұрын

Paying off debt, thank you so much for all your videos. 🇨🇦❤️👍

@sheilara0622 6 ай бұрын

Dave Ramsey depressed me also and I got no where. His rich daughter kept telling me to stop spending and save.

@edwizard62 6 ай бұрын

Thank you beautiful Christy ❤

@SoleilSolSun 6 ай бұрын

Hello Christy, if I’m following your videos correctly, you are essentially using a line of credit in addition to your income, to attain higher cashflow. This in turn allows you to continue increasing your credit and use any excess money for investments. Am I following correctly?

@acf3727 6 ай бұрын

I’ve just learned my HELOC is not considered a revolving line. My auto loans are simple interest. Not sure if it’s worth getting a new LOC that is revolving. Input appreciated.

@Jesus-kt5dc 5 ай бұрын

Do you have a set monthly payment. If you do that's a HELoan. All HELOCs are revolving. I've never heard of a none revolving HELOC. Have a great day.

@acf3727 5 ай бұрын

@@Jesus-kt5dc thanks, I learned it is a revolving, and i've been using it for VB for a month now 🙂

@naske1763 6 ай бұрын

I still don't understand

@ezswan 6 ай бұрын

yea but you still have to make the minimums on your credit cards. i assume you are adding that into the expenses each month?

@justkim5476 5 ай бұрын

No. If I understood the video correctly, the deposit you make with your income replaces the credit card payment.

@Moving2Win 2 ай бұрын

@@justkim5476Correct

@localfatty4364 6 ай бұрын

Would you recommend paying off a 0% CC? I have about 14 months left on the 0%. But it would add to my cash flow. I just wondered what your thoughts were on that since if I did pay it off I would be paying interest on it then. (But would also free up that card and my mind and be paid off) -I guess I could compare how much interest I will pay compared to making the payments on it over 14 months. Just let me know thank you so much !!❤

@diswazzi1683 6 ай бұрын

This is so confusing

@DrForEyes2 6 ай бұрын

Should you pay down higher interest credit card first or the ones with a lower balances to delete the whole balance first?

@Moving2Win 2 ай бұрын

Highest minimum monthly payment. This allows to gain the most cash flow.

@jojoRizzle 6 ай бұрын

Curious why do you subtract the income and add the expenses to the HELOC equation when you're showing the chart

@Jesus-kt5dc 6 ай бұрын

The balance on the LOC is debt. Doesn't matter if the debt was accumulated for consumption or principal/chunk payment reasons. So if you have a 10K balance on the LOC and make a payment/deposit/balance transfer of 1K, the balance on the LOC goes down by 1K. So it's 10K (LOC debt) - 1K (payment) = 9K balance. As for adding when you take expenses out, it's because your adding debt to the LOC. Hope this helps, have a great day.

@augustasimone9323 6 ай бұрын

Stop Eating out ! Make your own coffee and Tea and bring it from home. Pack a better lunch from home and you will pay off those cards asap !

@MyMusiclover28 6 ай бұрын

This is the biggest fallacy ever

@nataliafernandez8101 6 ай бұрын

How do you include your mortgage payment into your credit card ?

@luisvilla799 6 ай бұрын

Damn what do these people do for a living 5k a month I’m a teacher in Houston and take home about 4.4k a month and I live okay if I make over 5k I would be debt free

@AngelPerez-nw5cd 6 ай бұрын

Depends where you are located, my mortgage plus utilities is $2700.

@morrisdavis9231 5 ай бұрын

Could you show how to use 1754.00 after all bills are paid 514.00 left to pay a 90,000 mortgage off on a30 year 4.75 which like you say 88% with a 10,000 ploc

@ctsmith9527 6 ай бұрын

Christy I'm ready to start velocity and have a good amount of equity in my home. Do you advise going with my current lender for a HELOC or shopping around? I frequently get letters about using my equity

@VanntasticFinances 6 ай бұрын

@ctsmith9527 I probably wouldn’t go through my mortgage lender. Maybe a local credit union..

@ctsmith9527 6 ай бұрын

My mortgage is currently with Navy Federal but I'm also a member of my work credit union...BCU

@ctsmith9527 6 ай бұрын

Thank you for your reply Christy and thank you for sharing this life changing info!!!

@alr1917 6 ай бұрын

What if you don't have and can't get a HELOC but have several credit cards to pay off?

@annemarieschik7325 6 ай бұрын

After bringing in the 2 credit cards, her total would be $69K not $68k.

@DebLL357 6 ай бұрын

I can’t begin to tell you how excited I am about this method! I did some bills today and matched them up to two of my credit cards like you have showed us before, and I immediately gained $560. of cash flow by doing this, and I was able to pay off two small credit cards with that cash flow! Now that I am better understanding how to do this, I am actually excited about paying my bills! Thank you so much for sharing all of your wisdom with us, Christy! God Bless you and your family! 😘🙏👍

@nasaretasmith9772 6 ай бұрын

I tithe n yes it is....God first all else follows

@Jason-hv4eu 6 ай бұрын

👍🏻 I’m glad that you are teaching this to those who will listen. And I’m happy to see you stand your ground. Keep up the good work!

@Breezy84312 6 ай бұрын

Can’t wait to hear about the college story

@JamilaJibril-e8h 6 ай бұрын

So many stories people need help

@drtanujachaudhary3701 6 ай бұрын

Hi! Can a car loan be paid off with a line of credit? When rate of interest is 6.99% and 6.95% respectively or should it be left at that…please advice, Thanks n Regards

@themeek351 6 ай бұрын

What if we are already 100k in debt from student loans from the past! Can this system help with that?

@ruthsnively7248 29 күн бұрын

I've said it before, I just found your channel and have been binge watching your vidoes. This is the first month I am putting the VB principles to work. I pray I will have a postitive testimony to share in the near future. God is good and these videos encourage my heart. Thank you.

@idalmycastro5323 6 ай бұрын

What happens if we can have a line of credit ?? I believe it is easy to pay when it exists a line of credit . Please help us to pay without any HELOC etc etc.

@Intentionaltia 6 ай бұрын

Exactly, so many people actually do not have a HELOC bc they are already in so much debt without knowledge of how to get out. Can we get some videos of credit card only. Is the goal to work towards getting a HELOC to pay off the debt?

@M4R1N4 6 ай бұрын

I want to know too, because I asked about applying for a HELOC at my bank and they said that's the last thing they would want to give me. I'm sure it would help, so I might go somewhere else to get one.

@johnseggerman5151 6 ай бұрын

you can still do it with a credit card yes. it will be little slower at first depending on avail credit on the cards, but it CAN be done. It can even be done with 2 cards at once. However you need to be diciplined

@Jj-rq9sp 6 ай бұрын

Or you can do it with a PLOC. The principle is the same

@PalmiraGonzalez-x4h Ай бұрын

Velocity banking is the way to go and does help control your spending

@localfatty4364 6 ай бұрын

I am trying to figure out where my cash flow goes? Is it money in my pocket or just money saved over time? But the cash I have currently isn’t being touched.