As a single mother, I wanted to stop getting Christmas loans at my employee credit union. Everyday starting a January any change in my purse I would throw in a a container. I did this for about 6 years. Every year I would have between four hundred and $500 in that jar of change. Yes ever cent counts! This I know. Just subscribed. Love it Denzel!
It should be 10% of everything. For most people, that is expressed in money, in their income. I advise people to give a minimum of 10% of their gross income, because we give back to God before the government gets theirs, AND give more money, if you can, but whether you can give more money or not, THEN you give your time, food, etc. I believe it's very important, no matter how much money you give, if any, to get out there & get your hands dirty. Go HELP someone who needs it. Do it yourself. Don't pay someone else to do it. Don't just hand someone $5 and walk away. Help them. I believe that's very important, especially these days, as we've gotten away, as a society, from having our hands on what's going on around us.
Denzel, this was a powerful session! Testing the ideas of others and running the numbers was invaluable as it showed us HOW to think through the process and verify our conclusions using the numbers. We are learning how to fish with your guidance. Thank you.
Just saying thanks for these teachings on velocity banking, when I started watching I was about to be laid off. To protect my savings and home I put my home in a covid forbearance, when forbearance ended I put this strategy to work and used it to pay off my home, but I will have to confess I got cocky and was thinking 🤔 so if I worked for a home just imagine what it can do for a new car, Denzel I went and bought a brand new ride, so I'm back to square one watching the videos, thanks for all you do, you are truly a blessing to me and my family
When we had an increase we needed to increase our cost of living for increases HEALTH. Having a lack of income…causes stress=illness. This is the case for every Mother. Women who go without, what they need…because they don’t have the funds, develop many areas that need healing. Keep This in mind for all Mothers.
Transfer Navy Fed & Capital One balances to 0% card. Pay off car with savings. Run velocity banking through Chase card a la Christy Vann. Adds all of the credit pymts to cash flow, minus the minimum pymt on the 0% card. Also seriously consider limiting optional bills as much as possible. That gets her started with VB pretty much immediately.
I like how denzel shared, learn a new skill when your job doesnt have growth opportunity. Most time people state get a part time job. Great idea of a way to look ar it.
Love what you 're saying.I need to be serious with my finances ,take care of me so I can help without being broke.Thanks I hope I can afford to get one to one conversation with to fast track my goals.
I have been listening to another person teaching this strategy/concept and it is very interesting, but your take seems to be really addressing the root and not just jumping in without thinking it all the way through. This will create forever results and a change of how we think about our finances overall which creates true freedom. 😊
Look up Havrim in Jewish culture when Jesus was on earth. Jews considered questioning and debating as learning. They cherished each others relationships because that's how they learned more about Torah. You are spot on about early church.
This is great interactive learning. It makes$ learning fun Most increase lifestyle when$ goes up? Keeping up with the joneses is$$ costly Whos really gonna be a hermet for a whole month. That can increase stress 😩
Tithing is to come from a person’s income. Based on the Word of God, we are to tithe from our first fruits. That means that when a person gets their paycheck, or income (that could be daily, weekly, monthly, etc…) the tithe comes from that. A tithe is paid before anything else. First fruits. Before cable bill, before gas in the car, before mortgage, and even before food. That is Biblical. You will never out give God. If you follow this Biblical practice, God will honor it. He will bless you. A tithe is not meant to be given after everything else is paid. It is the first thing to get paid. 😊
Great point if I lose my job is there another form of tithing that isn’t currency? Could it be my time could it be a resource, skill, or talent I have? Is that comparable to a financial tithe. I also wonder if we look at scripture when the tithe was first introduced was it speaking to all people on earth or was it speaking to a specific tribe let’s say the Leviticus tribe and if so how do we comprehend that in todays environment. And when you say tithing is to come from a persons income can you point me to the scripture where it says that. Last point is there a system in place for someone to work there way back to tithing first fruits if there in a negative cashflow situation, lots of debt, etc.? Or is it just tithe first even if it means a bill going late, creditors calling, going hungry, etc.? These are all practical questions that aren’t being asked in the church by our leaders and these are conversations not being discussed which makes people feel lost.
@@DenzelNapoleonRodriguez Well, the word tithe literally means tenth. So, if a person gives any amount (either more or less), it is considered an offering, not specifically a tithe.
@@shellysanderson933 ok you defined the word tithe thank you. A tenth of time a tenth of my food a tenth of my clothes a tenth of my farm like what’s the difference
Honor the LORD with your possessions, And with the first fruits of all your increase. ~ Proverbs 3:9-10 You shall surely give to him, and your heart should not be grieved when you give to him….~ Deuteronomy 15:10 proverbs 11:24-25 Malachi 3:8-12. God chastised the Israelites for neglecting their responsibility to give. The challenge is for each of us to give sacrificially to see how the Lord keeps His word. Our faith is revealed in our habits of giving. An offering was something you gave. A tithe was something you owed. It belonged to the Lord. Mark 12:41-44 The way that Christ reacted to the widow’s faith shows how He feels about our sacrifice and generosity. Deuteronomy 8:18 Give, and it will be given to you: good measure, pressed down, shaken together, and running over will be put into your bosom. For with the same measure that you use, it will be measured back to you. ~Luke 6:38 God required 10% from the Israelites. Why should we think He wants less from us? 1 Timothy 6:6-9 Matthew 6:19-21 Proverbs 28:22
Thank you for saying this is not a savior if you don't have a budget and a viable plan. I am still unsure about my cash flow and hesitant to start because I don't think I have the foundation.
PS... I'm washed in the blood of Jesus, but totally agree with your view on their tithe situation. Once their cashflow is squared away, they can always make up skipped monthly tithe in the future.
That’s nice to hear we don’t hear that enough in church so I believe a lot of believers carry a lot of guilt when they do not tithe when there in a bad financial situation. Thinking of a solution like this I believe provides a way forward
I personally would've paid for the car with the savings, then I would move the smaller amounts to the zero percent then you can pay yourself back on savings if you want to in 6 months with the large amount you are saving combining and eliminating debt then begin hitting that debt like crazy packing hundreds or thousands monthly.
Hi Denzel! I think velocity banking is awesome and it makes so much sense…what do you have to say to the naysayers that claim velocity banking doesn’t work, they’re crazy, the math speaks for itself. Can you please give your take on it? Thank you for all that you do!
If someone is willing to have a conversation then you can discuss it by running math together. If they are unwilling to have a conversation you will be wasting your time better to just stay silent and keep getting your results.
In the workforce people trade time for money. We can tithe with $$ or be of service with love. God wants us to live in abundance. IMOH we can have a greater impact as Christians here when we’re coming from a place of love and serving for the Lord. There are infinite ways we can be a service. We do not have to be abundant in money that’s not what the Lord asks us to make a large amount of money it is about how we serve what is in your heart, and how you serve the lord and ⁉️ is ww have a cc with 0 percent interest, and we have another credit card with cash back from Citibank with $4100 and another one with nothing on it. And 0% interest is it better to pay off the debt with our savings and invest the rest or invest all of it and move it to zero interest credit card we do have a positive cash flow not a ton, but we do.
Your math is off brother. Att 55:34, that $1528.97 is what's left in savings after paying off the two credit cards, not the increased cashflow. You write the same number again at 56:49. The actual cashflow is still negative after that by $257.66. If, as you showed, you transferred the Car to the 0% card and made minimimu (1%) payments, you'd end up with a positive cash flow of $86.81. That definitely gives her some breathing room while she attempts to transition to another career, but it is not the hundreds portrayed. The calculations just spiraled after that mistake. I just wanted to point this out so the wrong info isn't getting disseminated.
I agree. The total positive cash flow after everything in that segment should have been $516.81, not $971.07. Still good, but the # in the video is inaccurate.
First part of your question I don’t know? In general the main goal would be to pay off whatever I am putting into the HELOC faster than making extra payments or it probably isn’t worth it. Second part of your question is yes moving debt from one location to another also known as debt consolidation
I am running a negative cash flow and need help. I am 75 and my husband is 75 and he has dementia and 4 brain tumors. We only have no retirement savings. Doubtful I could get a PLOC due to debt to income ratio. Not sure what to do.
Help me! I’m drowning cause I don’t know where to start. I’m definitely running a negative cash flow. Spoke to financial advisor they suggested a reverse mortgage can save me. So much uncertainty about reverse mortgage.
First step is watching this playlist here - ruclips.net/p/PLnF-b0Fck4Lib7XeYKntMvfKtUwkxSSU-&si=8e78cHI559IZNEJ8 When you are in a negative cashflow situation we have to first figure out your current mindset and beliefs about money before any strategy can help you. A good money mindset is permanent a financial strategy can be a temporary fix but not a permanent one. We want a permanent solution for you then strategies we can use to build from there
It depends on how you use the card and the type of credit card you have. If you have the right credit card and use the right option what you are saying is not an issue. Also I can avoid using a credit card and just use a PLOC or HELOC
So I have 27,000 car loan and I want to get rid of this asap, I have 45,000 worth of credit cards all paid and I have 5,000 of line of credit. Can this work for me
Sunday school and bible study is ment for q&a. Also the Bible says that "A wise man leaves an inheritance for his children's children" and "A man who doesn't take care of his household is worst then a infidel."
First a Heloc is really a second mortgage If you have one and run your credit it will show as a mortgage so if you get in a jam and can't pay it you could get foreclosed on. Second point they charge an interest on it right? so you are borrowing your own money and paying interest to the bank on your money. Third point I bet if you asked all the really wealthy people what they thought they would tell you that you are crazy. I don't think when they say use debt as leverage they are talking about using a Heloc. What worked for me was as simple as following the Dave Ramsey plan the wife and I paid off $110k in debt in about 17 months and are currently on pace to have $200k saved up by mid 2025 and that will be our down payment on our first home so if we can do it anyone can. But to each is their own as the saying goes.
Your first 2 points is making the assumption whoever does this has no discipline and poor financial stewardship. Let’s be real if you or anyone gets in a financial jam and your savings isn’t enough to cover your expense what is your next step to solve that issue? Oh that’s right it’s to borrow like everyone does. Im showing people how to be a better borrower that’s all. That last part “to each is their own” is great I’m glad you mentioned that you have to find a financial plan that works for you. I like to use debt some of my clients do not want to use debt so we don’t. It’s not a fit for everyone. If you are winning financially I’m not complaining. Debt can either help me or hurt me I chose to have debt help me on my way to financial freedom. I rather be in a position where I know how to use debt and not need it then need it and not know how to use it.
@@DenzelNapoleonRodriguez The comment was for a different video I was watching on Helocs as a tool some how I put it on your video. But I did say to each is their own what ever works for you as long as it works that's all that matters.
Ok. If I’m currently paying down the particular card that has the balance should I pull my bills off that card and pay them with debit or leave them in as I’m paying down that card
If you are doing velocity banking on that credit card then we are ok if there is an existing balance. That means you are intending to pay it off so your are trying to pay as little interest as possible. The problem that happens with some people is they start using a credit card and they leave a running balance and start paying interest without paying attention. Meanwhile they are paying off other debts and not realizing they are increasing there total costs of living. When that happens I tell them stop running bills on that card pay it off and start over again from scratch. So I’m more so talking to people that misuse the tool.
"You shall truly tithe all the INCREASE of your grain that the field PRODUCES year by year" her fleld is not producing any increase, she's in negative cash flow.
i'm just watching and I'm new to this concept and I just on the fringe of signing for w straight line equity loan. What should be my next step to get guidance from you
Your next step would be watching the pre game work. I wouldn’t jump into a line of credit without knowing for sure that it is the right tool for you to use - ruclips.net/p/PLnF-b0Fck4Lib7XeYKntMvfKtUwkxSSU-
Do you have a list of items that go in the EXP and Debt ? Do you put your house in the EXP or Debt? I'm new to this, sorry if this is a stupid question.
No question is stupid!! My understanding - an Expense is Anything leaving your checking account is considered an expense, which includes living expenses (mortgage/rent/groceries/restaurants/entertainment/medical/phone/cable/utilities/car payments/credit card payments/loans/vacation/donations/misc. Even if you put money into your savings every month - basically you have money coming in and an expense is anything going out. Your Debt is everything you owe altogether - total credit card, mortgage, loans, etc. Hope this makes sense:-)
The way I have it displayed is the debt is the total amount of money you owe. The expenses is factoring everything including debt payments. So your mortgage payment you would put in the expenses and total amount you on the mortgage would go on the total debt numbers
When you ran the numbers on Jeannette's comment you did it wrong. You subtracted the current -cashflow which would be less due to moving debt to the 0 %
What is the benefit of transferring the car payment to the card with 0 balance if there’s still a 5 percent interest? Are we refinancing the car payments?
Tithing was never monetary. It was food for the Levites since they had no inheritance of land. Deuteronomy 14:22-23 [22]Thou shalt truly tithe all the 👉🏽increase of thy seed, that the field bringeth forth year by year.👈🏽 [23]And 👉🏽thou shalt eat before the LORD thy God👈🏽, in the place which he shall choose to place his name there, 👉🏽the tithe of thy corn, of thy wine, and of thine oil, and the firstlings of thy herds and of thy flocks👈🏽😊; that thou mayest learn to fear the LORD thy God always.
Hey Denzel, I just found this...i am running a negative cashflow and I need help desperately...I think I signed up with Financial Geek Ministry already..
The church has misunderstood and taught the whole tithing incorrectly. Tithing is OT example. It's never been about the percentage given but totally a heart issue.
You are correct in that it's to be given totally from the heart and not a percentage, BUT many people don't have a heart of giving. When people choose not to give tithes to the local storehouse (Church) the Church isn't able to pay the bills and they have to close the Church doors. Where do you think the power bill money, phone bill, Church insurance, fuel for the bus route, and a number of other things comes from? Yes the Lord provides, but He uses tithes from faithful givers in order to provide those things each week. Giving in other ways is also important. Time,talent,etc but giving tithes is also important if you want to have a Church to go to.
Well Of course the church has bills to be paid, I totally understand where you are coming from, but those with a heart to give and to give joyfully not out of obligation, Go above and beyond the tithe example given under the old covenant. My intention is to be such a good steward over everything the Lord gives me to the point where His multiplication blesses my socks off, so I can be a blessing to the church! 🥰
No way would I stop tithing. That should be done off the first fruits. The gross income. That would be the 1st $$ out. NOT a bill but giving back to God for what he allowed you to receive (in income). Faith that God will provide for the other as long as you are being a good steward and not spending frivolously. Ie: eating out, entertainment, gym, etc.
come on , move car loan at 5.69 interest to a "0" interest credit card? . First the o interest on the card there is a 5 percent transfer balance or $395 , that comes to about 9 percent . And it have to be payed in 12 months , $692 monthly. Second, car loans are front loaded with interest is possible most interest was already payed , the $7901 would be mostly principal not very much interest. Why pay more interest on the car if it has been payed ? Bad advise.
Pay attention to the negative cashflow position they are in. Take that into account and explain your full position because if all you do is move the car to zero percent explain how I can make the payments while being in a negative 1,000+ position.
@@DenzelNapoleonRodriguezyou're not considering how much they are going to need to pay on the 0% credit card monthly to pay it off within the promotional period. They are going to transfer the car payment, be unable to pay it off, and then end up with huge interest on that probably retroactive to day 1.
Personally I’ve never had to pay that high of a minimum payment on any credit card before. I have seen this with multiple clients where they have a really high minimum payment and I think it has to do with maybe paying late or bad credit I’m really not sure this is what the client told me and I confirm with clients multiple times to verify. It could also be that the balance was much higher at one point and maybe the company keeps the bill the same.
If you do not have money, you have NOTHING to tithe. Paying a tax exempt company on credit just sounds ridiculous. Go ahead, I guess. Lose your house and fail to feed your family for the church. I’m sure they would do it for you… Illogical.
They could replace the money tithed with giving of their time and expertise to the Church. For example my daughter had to stay with me for 6 months because she got into financial strait. Rent was based on what she had. I didn't give her cash money but it's just like it when she doesn't have to pay rent water gas etc . More ways to give❤🙏
Asking your daughter for rent is cruel. She’s your blood and the reason she’s “not in a good financial place” is almost entirely your fault. Don’t be like John Paul Getty
This makes no sense. Going into debt to donate to the church? Who are you going to go to for support once you run out of money? You can save everyone time and money by just stopping for the time being.
@@MrBarrett10 you make a great point I believe conversations like this should be happening in the church instead of the pastor having a one sided conversation with the members of the church.
I can see why Christy speaks so highly of you. Clear, concise, and calm.
Excellent presentation!
Thanks for sharing...
She is awesome
From Hawaii. I just started velocity banking and am excited to do this. These are words of wisdom.
As a single mother, I wanted to stop getting Christmas loans at my employee credit union. Everyday starting a January any change in my purse I would throw in a a container. I did this for about 6 years. Every year I would have between four hundred and $500 in that jar of change. Yes ever cent counts! This I know. Just subscribed. Love it Denzel!
Just found your channel ❤
Often people only think of tithing as being a financial gift, but it can also be giving 10% of your time, or food, or anything from the heart.
Amen!
That’s one way of not obeying scripture. Lol 😅
It should be 10% of everything. For most people, that is expressed in money, in their income. I advise people to give a minimum of 10% of their gross income, because we give back to God before the government gets theirs, AND give more money, if you can, but whether you can give more money or not, THEN you give your time, food, etc. I believe it's very important, no matter how much money you give, if any, to get out there & get your hands dirty. Go HELP someone who needs it. Do it yourself. Don't pay someone else to do it. Don't just hand someone $5 and walk away. Help them. I believe that's very important, especially these days, as we've gotten away, as a society, from having our hands on what's going on around us.
Giving your money takes faith. God loves faith!
Denzel, this was a powerful session! Testing the ideas of others and running the numbers was invaluable as it showed us HOW to think through the process and verify our conclusions using the numbers. We are learning how to fish with your guidance. Thank you.
Been working with you for 2 years. You’re the man - Great work!
Just saying thanks for these teachings on velocity banking, when I started watching I was about to be laid off. To protect my savings and home I put my home in a covid forbearance, when forbearance ended I put this strategy to work and used it to pay off my home, but I will have to confess I got cocky and was thinking 🤔 so if I worked for a home just imagine what it can do for a new car, Denzel I went and bought a brand new ride, so I'm back to square one watching the videos, thanks for all you do, you are truly a blessing to me and my family
When we had an increase we needed to increase our cost of living for increases HEALTH. Having a lack of income…causes stress=illness.
This is the case for every Mother. Women who go without, what they need…because they don’t have the funds, develop many areas that need healing. Keep
This in mind for all Mothers.
Transfer Navy Fed & Capital One balances to 0% card. Pay off car with savings. Run velocity banking through Chase card a la Christy Vann. Adds all of the credit pymts to cash flow, minus the minimum pymt on the 0% card. Also seriously consider limiting optional bills as much as possible. That gets her started with VB pretty much immediately.
I like how denzel shared, learn a new skill when your job doesnt have growth opportunity. Most time people state get a part time job. Great idea of a way to look ar it.
Love what you 're saying.I need to be serious with my finances ,take care of me so I can help without
being broke.Thanks I hope I can afford to get one to one conversation with to fast track my goals.
I use Navy Federal credit cards for this. These people need Dave Ramsey for awhile. Lousy money management is the key
Yes, “figure out your why, your purpose”
I have been listening to another person teaching this strategy/concept and it is very interesting, but your take seems to be really addressing the root and not just jumping in without thinking it all the way through. This will create forever results and a change of how we think about our finances overall which creates true freedom. 😊
Look up Havrim in Jewish culture when Jesus was on earth. Jews considered questioning and debating as learning. They cherished each others relationships because that's how they learned more about Torah. You are spot on about early church.
love the straight forward talk
One doesn't have to be a business owner to: Respect cents.
I know I was intentionally looking to trigger some folks to make them pay closer to attention to their money.
Sorry I missed the live but I watching the recording. You are speaking to me today.
This is great interactive learning. It makes$ learning fun
Most increase lifestyle when$ goes up? Keeping up with the joneses is$$ costly
Whos really gonna be a hermet for a whole month. That can increase stress 😩
First 4 minutes, so much wisdom!
I’m at the 49:00 mark.
Savings into into Chase. Then balance transfer the Chase and Cap One.
Cut optional bills and start velocity banking.
My uncle tells me every so often "Watch your little money and the big money will take care of its self."
Tithing is to come from a person’s income. Based on the Word of God, we are to tithe from our first fruits. That means that when a person gets their paycheck, or income (that could be daily, weekly, monthly, etc…) the tithe comes from that. A tithe is paid before anything else. First fruits. Before cable bill, before gas in the car, before mortgage, and even before food. That is Biblical. You will never out give God. If you follow this Biblical practice, God will honor it. He will bless you.
A tithe is not meant to be given after everything else is paid. It is the first thing to get paid. 😊
Great point if I lose my job is there another form of tithing that isn’t currency? Could it be my time could it be a resource, skill, or talent I have? Is that comparable to a financial tithe. I also wonder if we look at scripture when the tithe was first introduced was it speaking to all people on earth or was it speaking to a specific tribe let’s say the Leviticus tribe and if so how do we comprehend that in todays environment.
And when you say tithing is to come from a persons income can you point me to the scripture where it says that.
Last point is there a system in place for someone to work there way back to tithing first fruits if there in a negative cashflow situation, lots of debt, etc.? Or is it just tithe first even if it means a bill going late, creditors calling, going hungry, etc.?
These are all practical questions that aren’t being asked in the church by our leaders and these are conversations not being discussed which makes people feel lost.
@@DenzelNapoleonRodriguez Well, the word tithe literally means tenth. So, if a person gives any amount (either more or less), it is considered an offering, not specifically a tithe.
Gifts of time or talents are wonderful, but not specifically a tithe.
@@shellysanderson933 ok you defined the word tithe thank you. A tenth of time a tenth of my food a tenth of my clothes a tenth of my farm like what’s the difference
Honor the LORD with your possessions, And with the first fruits of all your increase. ~ Proverbs 3:9-10
You shall surely give to him, and your heart should not be grieved when you give to him….~ Deuteronomy 15:10
proverbs 11:24-25
Malachi 3:8-12. God chastised the Israelites for neglecting their responsibility to give.
The challenge is for each of us to give sacrificially to see how the Lord keeps His word. Our faith is revealed in our habits of giving.
An offering was something you gave. A tithe was something you owed. It belonged to the Lord.
Mark 12:41-44
The way that Christ reacted to the widow’s faith shows how He feels about our sacrifice and generosity.
Deuteronomy 8:18
Give, and it will be given to you: good measure, pressed down, shaken together, and running over will be put into your bosom. For with the same measure that you use, it will be measured back to you. ~Luke 6:38
God required 10% from the Israelites. Why should we think He wants less from us?
1 Timothy 6:6-9
Matthew 6:19-21
Proverbs 28:22
Thank you for saying this is not a savior if you don't have a budget and a viable plan. I am still unsure about my cash flow and hesitant to start because I don't think I have the foundation.
PS... I'm washed in the blood of Jesus, but totally agree with your view on their tithe situation. Once their cashflow is squared away, they can always make up skipped monthly tithe in the future.
That’s nice to hear we don’t hear that enough in church so I believe a lot of believers carry a lot of guilt when they do not tithe when there in a bad financial situation. Thinking of a solution like this I believe provides a way forward
I personally would've paid for the car with the savings, then I would move the smaller amounts to the zero percent then you can pay yourself back on savings if you want to in 6 months with the large amount you are saving combining and eliminating debt then begin hitting that debt like crazy packing hundreds or thousands monthly.
Hi Denzel! I think velocity banking is awesome and it makes so much sense…what do you have to say to the naysayers that claim velocity banking doesn’t work, they’re crazy, the math speaks for itself. Can you please give your take on it? Thank you for all that you do!
If someone is willing to have a conversation then you can discuss it by running math together. If they are unwilling to have a conversation you will be wasting your time better to just stay silent and keep getting your results.
@DenzelNapoleonRodriguez a productive and non-confrontational pov! 😊
In the workforce people trade time for money. We can tithe with $$ or be of service with love. God wants us to live in abundance. IMOH we can have a greater impact as Christians here when we’re coming from a place of love and serving for the Lord. There are infinite ways we can be a service. We do not have to be abundant in money that’s not what the Lord asks us to make a large amount of money it is about how we serve what is in your heart, and how you serve the lord and
⁉️ is ww have a cc with 0 percent interest, and we have another credit card with cash back from Citibank with $4100 and another one with nothing on it. And 0% interest is it better to pay off the debt with our savings and invest the rest or invest all of it and move it to zero interest credit card we do have a positive cash flow not a ton, but we do.
I’m running a negative cash flow and I’m a single Senior. My credit card is maxed out.
Mine is also...😢
Go's bless you both, listen closely...praise God
Your math is off brother. Att 55:34, that $1528.97 is what's left in savings after paying off the two credit cards, not the increased cashflow. You write the same number again at 56:49. The actual cashflow is still negative after that by $257.66. If, as you showed, you transferred the Car to the 0% card and made minimimu (1%) payments, you'd end up with a positive cash flow of $86.81. That definitely gives her some breathing room while she attempts to transition to another career, but it is not the hundreds portrayed. The calculations just spiraled after that mistake. I just wanted to point this out so the wrong info isn't getting disseminated.
I will review this video I might have said that I made a mistake later into the video
Yes I noticed the same error in calculating as well. Made everything he said going forward incorrect.
I agree. The total positive cash flow after everything in that segment should have been $516.81, not $971.07. Still good, but the # in the video is inaccurate.
Tuning in from California. Not a member...listening in.
How long does it take to pay off your HELOC after doing this method? Aren’t you just moving debt from me to another?
First part of your question I don’t know? In general the main goal would be to pay off whatever I am putting into the HELOC faster than making extra payments or it probably isn’t worth it. Second part of your question is yes moving debt from one location to another also known as debt consolidation
From Georgia, blessings
I am running a negative cash flow and need help. I am 75 and my husband is 75 and he has dementia and 4 brain tumors. We only have no retirement savings. Doubtful I could get a PLOC due to debt to income ratio. Not sure what to do.
Here from NC just trying to understand how all this works. I need help badly and hope this will help me get out of debt.
Help me! I’m drowning cause I don’t know where to start. I’m definitely running a negative cash flow. Spoke to financial advisor they suggested a reverse mortgage can save me. So much uncertainty about reverse mortgage.
First step is watching this playlist here - ruclips.net/p/PLnF-b0Fck4Lib7XeYKntMvfKtUwkxSSU-&si=8e78cHI559IZNEJ8
When you are in a negative cashflow situation we have to first figure out your current mindset and beliefs about money before any strategy can help you. A good money mindset is permanent a financial strategy can be a temporary fix but not a permanent one. We want a permanent solution for you then strategies we can use to build from there
The only issue i see with the plan of moving the car payment to the card, is most cars and mortgages do not accept credit cards.
It depends on how you use the card and the type of credit card you have. If you have the right credit card and use the right option what you are saying is not an issue. Also I can avoid using a credit card and just use a PLOC or HELOC
i’m brand new and want and need to build a foundation with my finances!
New listener
Welcome
I'm running a negative cash flow today. $2,000 exp. 1,500 income.
I was taught that tithing was for the Israeli Jewish temple. The congregations/synagogues received offerings
So I have 27,000 car loan and I want to get rid of this asap, I have 45,000 worth of credit cards all paid and I have 5,000 of line of credit. Can this work for me
Sunday school and bible study is ment for q&a. Also the Bible says that "A wise man leaves an inheritance for his children's children" and "A man who doesn't take care of his household is worst then a infidel."
Exactly 💯 about Bible study ! I was thinking that 🎉
First a Heloc is really a second mortgage If you have one and run your credit it will show as a mortgage so if you get in a jam and can't pay it you could get foreclosed on. Second point they charge an interest on it right? so you are borrowing your own money and paying interest to the bank on your money. Third point I bet if you asked all the really wealthy people what they thought they would tell you that you are crazy. I don't think when they say use debt as leverage they are talking about using a Heloc. What worked for me was as simple as following the Dave Ramsey plan the wife and I paid off $110k in debt in about 17 months and are currently on pace to have $200k saved up by mid 2025 and that will be our down payment on our first home so if we can do it anyone can. But to each is their own as the saying goes.
Your first 2 points is making the assumption whoever does this has no discipline and poor financial stewardship. Let’s be real if you or anyone gets in a financial jam and your savings isn’t enough to cover your expense what is your next step to solve that issue? Oh that’s right it’s to borrow like everyone does. Im showing people how to be a better borrower that’s all. That last part “to each is their own” is great I’m glad you mentioned that you have to find a financial plan that works for you. I like to use debt some of my clients do not want to use debt so we don’t. It’s not a fit for everyone. If you are winning financially I’m not complaining. Debt can either help me or hurt me I chose to have debt help me on my way to financial freedom. I rather be in a position where I know how to use debt and not need it then need it and not know how to use it.
@@DenzelNapoleonRodriguez The comment was for a different video I was watching on Helocs as a tool some how I put it on your video. But I did say to each is their own what ever works for you as long as it works that's all that matters.
Good afternoon California I’m new
“Give Caesar what is Caesar’s and to God what is God’s”
Ok. If I’m currently paying down the particular card that has the balance should I pull my bills off that card and pay them with debit or leave them in as I’m paying down that card
If you are doing velocity banking on that credit card then we are ok if there is an existing balance. That means you are intending to pay it off so your are trying to pay as little interest as possible.
The problem that happens with some people is they start using a credit card and they leave a running balance and start paying interest without paying attention. Meanwhile they are paying off other debts and not realizing they are increasing there total costs of living. When that happens I tell them stop running bills on that card pay it off and start over again from scratch. So I’m more so talking to people that misuse the tool.
@@DenzelNapoleonRodriguez Ok cool. Got it. Thank you. I’ll be in touch with you shortly🤗
Yeah dude… round up! Not down. Simple, not waste
"You shall truly tithe all the INCREASE of your grain that the field PRODUCES year by year" her fleld is not producing any increase, she's in negative cash flow.
That cc with o percent but a 5% balance transfer comes to about 8 percent interest. And you have to pat it in 12 months after that ?
i'm just watching and I'm new to this concept and I just on the fringe of signing for w straight line equity loan. What should be my next step to get guidance from you
Your next step would be watching the pre game work. I wouldn’t jump into a line of credit without knowing for sure that it is the right tool for you to use - ruclips.net/p/PLnF-b0Fck4Lib7XeYKntMvfKtUwkxSSU-
@@DenzelNapoleonRodriguez Thanks! I'll look at them today and reach back out to you if that is okay
Do you have a list of items that go in the EXP and Debt ? Do you put your house in the EXP or Debt? I'm new to this, sorry if this is a stupid question.
No question is stupid!! My understanding - an Expense is Anything leaving your checking account is considered an expense, which includes living expenses (mortgage/rent/groceries/restaurants/entertainment/medical/phone/cable/utilities/car payments/credit card payments/loans/vacation/donations/misc. Even if you put money into your savings every month - basically you have money coming in and an expense is anything going out. Your Debt is everything you owe altogether - total credit card, mortgage, loans, etc. Hope this makes sense:-)
The way I have it displayed is the debt is the total amount of money you owe. The expenses is factoring everything including debt payments. So your mortgage payment you would put in the expenses and total amount you on the mortgage would go on the total debt numbers
When you ran the numbers on Jeannette's comment you did it wrong. You subtracted the current -cashflow which would be less due to moving debt to the 0 %
Not always
What is the benefit of transferring the car payment to the card with 0 balance if there’s still a 5 percent interest? Are we refinancing the car payments?
The 5% is a one time fee.
Tithing was never monetary. It was food for the Levites since they had no inheritance of land.
Deuteronomy 14:22-23
[22]Thou shalt truly tithe all the 👉🏽increase of thy seed, that the field bringeth forth year by year.👈🏽
[23]And 👉🏽thou shalt eat before the LORD thy God👈🏽, in the place which he shall choose to place his name there, 👉🏽the tithe of thy corn, of thy wine, and of thine oil, and the firstlings of thy herds and of thy flocks👈🏽😊; that thou mayest learn to fear the LORD thy God always.
Hey Denzel, I just found this...i am running a negative cashflow and I need help desperately...I think I signed up with Financial Geek Ministry already..
The church has misunderstood and taught the whole tithing incorrectly. Tithing is OT example. It's never been about the percentage given but totally a heart issue.
You are correct in that it's to be given totally from the heart and not a percentage, BUT many people don't have a heart of giving. When people choose not to give tithes to the local storehouse (Church) the Church isn't able to pay the bills and they have to close the Church doors. Where do you think the power bill money, phone bill, Church insurance, fuel for the bus route, and a number of other things comes from? Yes the Lord provides, but He uses tithes from faithful givers in order to provide those things each week.
Giving in other ways is also important. Time,talent,etc but giving tithes is also important if you want to have a Church to go to.
Well Of course the church has bills to be paid, I totally understand where you are coming from, but those with a heart to give and to give joyfully not out of obligation, Go above and beyond the tithe example given under the old covenant. My intention is to be such a good steward over everything the Lord gives me to the point where His multiplication blesses my socks off, so I can be a blessing to the church! 🥰
New subscribers here ❤
oh and i’m from milwaukee wi
Lets go
Isaac
Hi From MN
take savings to pay off car loan
Good morning new
No way would I stop tithing. That should be done off the first fruits. The gross income. That would be the 1st $$ out. NOT a bill but giving back to God for what he allowed you to receive (in income). Faith that God will provide for the other as long as you are being a good steward and not spending frivolously. Ie: eating out, entertainment, gym, etc.
That’s good keep at it
come on , move car loan at 5.69 interest to a "0" interest credit card? . First the o interest on the card there is a 5 percent transfer balance or $395 , that comes to about 9 percent . And it have to be payed in 12 months , $692 monthly. Second, car loans are front loaded with interest is possible most interest was already payed , the $7901 would be mostly principal not very much interest. Why pay more interest on the car if it has been payed ? Bad advise.
Pay attention to the negative cashflow position they are in. Take that into account and explain your full position because if all you do is move the car to zero percent explain how I can make the payments while being in a negative 1,000+ position.
@@DenzelNapoleonRodriguezyou're not considering how much they are going to need to pay on the 0% credit card monthly to pay it off within the promotional period. They are going to transfer the car payment, be unable to pay it off, and then end up with huge interest on that probably retroactive to day 1.
My question is how is she paying $465 on her capital one at 28% with a $4000 balance in
Personally I’ve never had to pay that high of a minimum payment on any credit card before. I have seen this with multiple clients where they have a really high minimum payment and I think it has to do with maybe paying late or bad credit I’m really not sure this is what the client told me and I confirm with clients multiple times to verify. It could also be that the balance was much higher at one point and maybe the company keeps the bill the same.
I thought of that so she should have been using that balance transfer along time ago that’s what happens to most of you don’t get on top of things
Or that capital one was a car payment I know a couple of people that capital one financed their vehicle
If you do not have money, you have NOTHING to tithe. Paying a tax exempt company on credit just sounds ridiculous. Go ahead, I guess. Lose your house and fail to feed your family for the church. I’m sure they would do it for you… Illogical.
Good strong points
They could replace the money tithed with giving of their time and expertise to the Church. For example my daughter had to stay with me for 6 months because she got into financial strait. Rent was based on what she had. I didn't give her cash money but it's just like it when she doesn't have to pay rent water gas etc . More ways to give❤🙏
Asking your daughter for rent is cruel. She’s your blood and the reason she’s “not in a good financial place” is almost entirely your fault. Don’t be like John Paul Getty
@@Ozibieyyes!!
Running negative cash flo…
Yes I got a refund small amount
Only took 12 minutes to get to the point.
This was a pre recorded livestream so I take some time to address the audience live and set the stage but I get it
Sorry I commented on the wrong video my bad.
I DONT BELIVE YOU SHOULD STOP TITHING GOD HIS A PROVIDER
That’s a good point that was discussed in the video. When you use the word tithe are we talking money or can there be other forms of tithing?
This makes no sense. Going into debt to donate to the church? Who are you going to go to for support once you run out of money? You can save everyone time and money by just stopping for the time being.
@@MrBarrett10 you make a great point I believe conversations like this should be happening in the church instead of the pastor having a one sided conversation with the members of the church.
IL
too much explaining before getting into it
I’ll work on getting better appreciate your feedback
To many damm numbers
Dave Ramsey is in no way profound. 👎
He talks to much
Thank you for the feedback always room to improve on my communication