What to do after Velocity Banking gets you out of debt! Here's a model I go by!

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[@peggiunderwood9519]

You are right, I believe you. In 1995 I had a mortgage payment of $1,245.00 at 8.25% interest fixed payment that included the tax and insurance. This was a nice home, in a nice area- great schools. 3200 sq feet 4 bedroom $119,000. Do your best to get out of debt, because hard times may be on the horizon.

[@trope5105]

I got into the habit of changing my debit card number once a year so i dont get any ghost payments that i dont want. doing so i soon realized i dont need/want any of this stuff. havent had a netflix or amazon or anything for over 10 years now.

[@debbies6192]

Very smart!

[@MsDemi69]

That’s a good idea!

[@emmapeel4299]

Great topic. Even if you’re still working through your debt, it gives you hope and ideas for the future. I like it.

[@shamblesman]

Such a hard working and helpful lady. She changed my life for the better...thankyou Christy. I am a huge fan of Dave Ramsey and David Bach, however...Christy has helped me much more because she has tailored her approach to suit 99% of normal folks in a much easier way.

[@heatherlovesdeuteronomy]

Bought my home in cash 9 years ago for $26k thank God!

[@jeniferjohnson374]

Wow! Haven't seen prices like that even in the early 80's, and I was just a toddler then😂

[@Keto_Mike]

I got my first house in 2018 for 31k what a time to buy lol

[@heatherlovesdeuteronomy]

@@Keto_Mike right! Excellent move for you!

[@emojidinosaur7300]

@@Keto_Mike where?

[@Keto_Mike]

@@emojidinosaur7300 Ohio lol

[@jason60chev]

I drive a 1989 Caprice wagon.NO car payment, EVER, but have had repair expenses.

[@armchairpsychologist2423]

I can’t even get to this mind set until our debt is at zero. Until then, “what happens when” is just not part of our thought process. But someday...

[@trope5105]

Thanks for making this! Ive been buggin in ur comments on what to do if i am not in deb! my only other question is what to do before i look into buying a truck! im just starting the vid so hopefully you give some advice to consider!

[@thepuffydumpling77]

My house payment was 655 before I paid it off!

[@vinsham7251]

Mind blowning stuff people,pay attention it means your wealth.

[@queenofcups1122]

❤ thank you Miss Christy

[@Abcd124-g2v]

Where do you have your money working in the policy area?

[@SMTHGDFRT]

Your gold!

[@fredrickhaemker8434]

Renting a house or apartment is okay, people think owning is a must. But, after all the home expenses are paid I bet its near 60% of peoples salaries.

[@Jesus-kt5dc]

It all depends on where you live and what you bought the property for. A lot of people never take the fixer upper route which is a money printing glitch. Have a great day.

[@marilyn8700]

Owning is way cheaper than renting. Especially long term when you're retired and have a reduced income. Just always always have your emergency fund and insurance for repairs. I couldn't imagine ever renting again.

[@fredrickhaemker8434]

@marilyn8700 fyi, woman in Tampa has to sell her home due to tax bill doubling after 1st year in home. She contested it with no change in property taxes. Ouch, she lost all her savings that she used for the down payment.

[@WoThatsCrazy]

Christy what is the link to the worksheet for you to look at and tell me what I should do about situation

[@hunterchasemaynard2529]

I am a big believer in the CVS thing... it helps so much each month.

[@jeniferjohnson374]

Doesn't it only help if you shop at cvs?

[@lanessiacarrington8283]

I know it's a ways off but 2025s mantra could be "Saving our Hides in 2025" ❤

[@johnonethree]

I’m TRYing to work the spreadsheet, but I’m stumped at the start since my income varies from month to month. I need help. Suggestions?

[@maxxpro4]

Average your income

[@ybois3]

Do the average , lean towards the lower end of the numbers Better safe than sorry

[@remi3990]

Ty Christie

[@mommyscribbles]

If you can pay off all your debt at once can should you? Or should you use velocity banking?

[@ptc3619]

How do I combine a ploc & a banking policy/ whole life insurance with each other? Was thinking of using ploc to fund some of the pua. What would be best ?

[@et6032]

Oh my goodness I hit the like button automatically.

[@marshallwise1763]

Opportunity Cost.😊

[@hunterchasemaynard2529]

All ears. I want a trust with life insurance..

[@jesusismysavior3540]

Hi Vann, How much should I chunk to get rid of debt. I have a 50k LOC @ 7% we take home around 10k per month and have a 3k mortgage and a 40k car loan that cost $670 a month

[@luisphilip2694]

Great info!

[@bethmitchell6981]

Great Video

[@CZ_Fan]

thank you

[@carlosislas3146]

Nowadays even with a low interest rate of 2.87% is not possible to achieve the 28-30% housing target, it appears to be a bit unrealistic

[@mihaelafulga4290]

I’m at 24% with a 2.375%. Average house in the city but not in the center. With taxes and insurance included. I’m convinced it depends where house is. I just learned to calculate this. Now my daughter’s rent is higher than my mortgage. She lives closer to the center, but even in my area rent for a smaller property is at least $600 more than my mortgage.

[@matthewdaugherty3623]

I live in the nE and property prices are high. What are we suppossed to do? Do you max a WL policy that can cover a 1st line heloc in case interest rates increase? Is that a possibility?

[@jeniferjohnson374]

Do car payments have crazy interest stacked up in the contract like mortgages?

[@mihaelafulga4290]

Yes. Look at your amortization table. If you don’t have one, request it from your lender

[@jeniferjohnson374]

@@mihaelafulga4290 thank you!

[@liebekatz1]

​@@mihaelafulga4290what is amortization?

[@farresaallen8795]

Our mortgage is $690 with insurance and taxes. We just have credit cards from life's happening 😢

[@nanitaheart]

Do I need to have a job to get a heloc if I have my house already paid off?

[@Jesus-kt5dc]

Great question. Never thought about that.

[@angusmcprepper9379]

I'm thinking that if you ask for a heloc equal to only 20% of your equity, you'd have no problem.

[@mihaelafulga4290]

Great question. I would ask a potential lender. It would not commit you to anything just gathering info.

[@lisalindberg9980]

I am 10 years in. 4.25% because it was a foreclosure. PITI is 675/mo.. is it worth paying down with your heloc method? I would like to retire next year. Thank you just found your channel. Love it!

[@Jesus-kt5dc]

If you retire next year, how much of a burden would it be?

[@_Malik__]

So what’s the best way to buy a house as a first time home buyer if it’s not by using a mortgage? Is it the line of credit?

[@Jesus-kt5dc]

She would most likely say a 1st lien HELOC.

[@_Malik__]

@@Jesus-kt5dc I thought you could only get a HELOC if you owned a home

[@VanntasticFinances]

@_Malik_ You can purchase a home with a First Lien HELOC

[@_Malik__]

@@VanntasticFinances Thank you. So use a 1st lien HELOC because it has a lower interest rate than a mortgage? Do 1st lien HELOC’s go up to $200k? I’m looking at $150k-$200k homes.

[@VanntasticFinances]

@_Malik__ Yes!

[@donaldricher8815]

Do you think getting a HELOC now in this awful economy is a great idea.

[@Jesus-kt5dc]

You think not getting a HELOC in this awful economy is ideal?

[@magus7935]

My mortgage is 1150

[@Gunny713]

What is p-Lock He-Lock.. 📝 🧐

[@renaissancemanpresents3979]

PLOC - Personal Line of Credit HELOC - Home Equity Line Of Credit I've watched CV enough and had to educate myself because all of here terms were definitely like a different language to me. This is 100% a long term lifestyle change

[@MrSalsa1973]

You are the Bomb!! Thank u!!

[@TT3TT3]

🙏

[@mistystovall4817]

If someone is in a chapter 7 bankruptcy and after they get discharged and they only have a truck payment roughly $750 a month how do you suggest they pay it off quickly?

[@Boxgolf101]

Do her ideas actually work? How can we trust what she is saying?

[@maxxpro4]

Think for yourself.

[@Boxgolf101]

@@maxxpro4 Thinking is one thing. Action and following through with what she is saying is another.

[@emojidinosaur7300]

@@Boxgolf101 only your posterity cares about what you do.

[@MsDemi69]

You can look at her other videos and see the math. It’s common sense. Not voodoo. She knows what she is talking about.