Velocity Banking Is A Marketing Gimmick
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- Опубликовано: 3 окт 2024
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I use the velocity banking and it works
Please give your numbers
Excellent explanation and an honest view that VB is not always the best option. Many VB advocates get stuck on it being the ONLY way and provide very questionable justification for their bias. Like you said, a comparison shows mathematically which is the best in a scenario. I get frustrated with Christy Vann and others seemingly intentionally misleading people and getting them to pay for their services. Thank for an honest and easy to understand explanation. God bless.
Thanks for the great content, as always Denzel. Love your calm way of explaining it, and as a former consultant, I love the whiteboard approach as well. Ignore the trolls and keep doing what you do. And thanks again for coming on my show, it's greatly appreciated!
I've been hearing this term for a minute now and never really understood it. Because of you; now I do. I love the way you're communicate these ideas. Thank you!
Happy to help
It's a gimmick? Well how did I get outta debt? 😂😂😂😂😂
I hear you I’m wonder the same thing for myself and thousands of people I’ve worked with and talked too.
It's not a gimmick but don't compare it to the mortgage or car payment or other amortized payment and say it'sbetter and faster. Because it's not the same.
In velocity banking you're paying more into that loan than if you pay your minimum mortgage payment.
You don't need to go velocity, just pay extra toward whatever loan you have and you'll pay it fater. That's it.
Great point keep it simple no need to play with debt and leverage money with the banks.
I agree I looked at 2 scenarios 10k every 1 year or 2 years with a 833$ or 416$ buydown on heloc per month. 833$ per month extra was faster 17 years vs. 19 years. But the $416 per month was 2 years longer. But that is not including interest on heloc so seems like just put extra money per month on mortgage is easier and basically the same
@@donlip79 I’m an advocate for doing what works in your finances. For me having a first lien HELOC on my property works much more efficiently than having a 30 year amortized mortgage. I have more flexibility I’ll pay it off faster and use the same money multiple times to create wealth faster than most and thats just me.
LOL !!! Velocity Banking is the real deal!!!!! Look at the numbers,, numbers don't lie!!!!
Now I finally understand velocity banking!!. There is no way that I can get a personal line of credit in an interest rate that is equal to or less than the interest. I pay and either my car note or my mortgage
@@Joce123 if you have a mortgage we can look at a HELOC instead in combination with a credit card. A PLOC is probably to high for your current debts
Miss that triangle from back in your bedroom video days.
Love this teaching approach
Thank you I’m always looking to improve and get better
Great job!! I get!!
Sorry I paid college bills, I couldn’t watch any longer.
This is your rant on words.
Again I think you missed the point of the video and I’m assuming you are new to my channel. I have hundreds of case studies that actually how people how to get out of debt using different debt elimination strategies
So what is your answer to paying off debt earlier. Or are you just playing on the words used to explain , the principle of the velocity banking. But I didn’t see you coming up with a replacement idea, Just getting click bait on someone else’s idea. Stop playing with words and give an idea to reduce payments. Thank you I will be waiting for you answer.
I’m assuming you are new to my channel I think you missed the point of the video. I’m addressing the idea that velocity banking is marketing gimmick. I’m simply addressing that in the video not telling people how to get out of debt. I’m then showing all the marketing terms that are used in social media to attract attention. Back to the point of the title marketing gimmick is automatically click bait I’m showing people how to process information they watch rather than tell them what is right. I want my audience to be free thinkers not blind sheep relying on some person to tell them how to get out of debt make sense.
Free thinking is how a lot of people got into debt. Most people need a road to follow, to get where they are going. So good luck
@@atlasfueloilinc.2421 I simply do not believe that. I believe it’s the reverse people don’t know what they don’t know and therefore when someone comes along and says you can be free it requires diligence, patience, and commitment one can begin to think big and not stay in a box as it relates to how to deal with debt. Last point you mentioned was good luck I’m assuming you are also new to the channel I’ve been serving in finance for 6 years and creating content I have a large amount of people I’m serving this is going mainstream
That Damn Jardience commercial
Velocity Banking works when LOC (Heloc) interest rate is lower than the other debts, and net monthly income is just sitting in the checking account earning nothing. Saying VC works is like saying putting money in a saving acc is better than having money sitting in checking account. Of course some interest earned is better than no interest earned. But there are better vehicles to earn more interest like CD, Treasury Bond, or long term index fund investing. Thus, there are better methods out there than VC.
Ahh...The actual practice of vs The phrase of
You work for the banks?
@@mikeh.6117 I do not have a job at a bank
I really enjoy seeing this level headed approach Denzel. Keep up the good work.
Thank you will do
This is Critical Thinking at its best!
- Keep it up
@@johnkydd3611 thank you I’m glad you get what I was doing here in this video. Others think I’m attacking velocity banking or going against it and they missed the point completely
This video is a gimmick. I turned my finances around in one weekend. Paid off debt in one month, increased my credit score 50 points over night.
Great work keep it up 👍
It’s not a gimmick
There’s no such thing as amortized interest. Stop scamming people!!!
You are correct Amortized interest is a form of payment not a type of interest. I can still pay less interest with a revolving line of credit when used properly I can create interest offset and pay off my debt faster. Please find me one real person that I have scammed and I will stop creating content about velocity banking.
IDK, basic math has never been difficult for me. That's what this was supposed is be.
NOW! this guy is saying that velocity banking is a gimmick BS. He changed his tune because people are NOT subscribing to his channel. You can see in his first statement when he said the words he wasn't begin honest. What a joke you have become. More power to VANNTASTIC check out this channel and see for yourself.
I think you totally missed the point of this video. I’ve worked with Christy Vann and she is great.
Clickbate and it’s a 32 minute video. Why is it that you explain velocity banking on your channel and then post a video with a title like this one. Hypocritical.
If that is your view I appreciate it and the feedback. I think you might have missed the point of the video in the first few minutes where I bring up another channel that made a video titled velocity banking is a marketing gimmick. This video is in response to that. It’s also to let people know the words velocity banking is marketing at the end of the day and strategy itself is separate because it can be used so many different ways. Again I appreciate your view and opinion if you don’t agree that is beauty of human interaction and living in a free country
So let me get this straight you want people to watch your video on the proper terms used in getting rid of their debt.
That itself is click bait
Who cares what words are used as long as the debt is paid off quicker with a savings. Thank you for your answer but i would like to see more content that helps financially
Not intellectually
Understood you are one person that doesn’t care about the terms used where others are concerned. Again I have plenty of case study videos you can watch or if you don’t like my style that’s why there are other people to watch and learn from
clickbait!
I agree
I lost interest in you after 3 minutes 😂😢
All good that’s why there’s other channels to watch