My recommendation is to pay 1/4 quarter of all your bills including your credit card each week automatically through your bank, and add in an extra $5 or $10 per bill . If your electric bill is 120 per month or $30 per week, pay $35 or $40. Within a few months you'll have a nice credit with all your bills . Some months are also 5 weeks depending on when you make your payments. It takes the pressure off, you're always ahead and never late on anything. If something comes up unplanned, no problem , you could pause your bills one week and you'll still be fine. I know it's a money game but you're always the winner. If you're jammed up with too much debt, Velocity banking could be the way to go. Stay disciplined though and fight off that debt
I'm paid biweekly but full commission sales, so it has been hard to figure out, but bc of Christy I've actually survived this terrible economy. I've not gotten out of debt yet, but I paid everything when my income plummeted. Thank you for teaching me this! You are such a blessing, and I know God put you in front of me when I needed it most. 🙏
Anyone that is watching these videos. This method will work but you must discipline yourself to follow the math. If you start, realize it may take a YEAR or TWO or MORE depending on your situation. Do not start, see that you have freed up some debt and go on vacation or buy a new car.
I'm paid weekly but it is different every week. I work in the "gig economy ". I love how you explained figuring the weekly amount for the income transfers. I've been paying on my card weekly but seeing only a little improvement. Definitely going to re- run the numbers for my expenses to make sure they are correct so I can start making some real headway! Thank you for this video! It's exactly what I needed to see today! You are awesome!
One suggestion is to get an accountability partner who you can do Velocity Banking with together. Singles with singles and couples with couples. Make it fun. I agree when you see the debts decreasing you sleep better.
I feel as though I'm doing this wrong. I'm so fearful I will do it wrong and we'll be in a worse position. I know I have to stop saying that. I need a how to and will be reaching out but this is not as in depth as I need to show me how to complete this correctly. Thanks Christy!
Truly appreciate your work i’ve been watching your videos. I’m also a retired fire fighter who have to keep working and do a very poor job, budgeting my finances I get paid weekly and I’ve been trying to figure out how to do velocity banking on a weekly pay scale. Thanks again you are truly a blessing.
Your videos inspired me to get started. I am compelled to divide method between 2 cards because 1 limits the number of payments into the card i can make per month. But it's still working, a little slower. But making progress. Thank you, you rock!
I do velocity banking banking weekly. I paid off my CC's with a PLOC. Every week I make an income transfer into my PLOC as a principal only payment. I charge my monthly expenses on a CC. When the CC bill is due, I pay it in full . I simply transfer funds from my PLOC to my checking account. The transfer is instantaneous because my PLOC and checking account is with the same credit Union.
Hi- trying to start this. So when my paycheck is deposited I transfer the whole check into the PLOC? And to pay off a bill I transfer money from the PLOC to my checking to payoff the bill? I also use a cc to pay groceries etc (payoff balance monthly). Do I transfer money from the PLOC to pay off monthly as well? My PLOC is connected to my checking.
Oh my gosh i got it!!!! After watching your mini course I got part of it, then i found your excel worksheet (do u have a vidoe on how to fill out the worksheet? I think i understand after filling out the worksheet, knowing my numbers by going through my debit/checking. And how you pick the highest payment cc, now i get it!! So thankful, next step change the auto payments to that highest paying card and make a payment to the card. Ty Ty!!!
My velocity banking question is about WHEN to make the payments on the credit card. Should I make bi-weekly payments or pay the whole payment a few days before the due date? Or break it up in weekly payments?
My pay isn't steady, it is random month to month. Some months I make enough to put enough into cc for velocity banking and set aside money for mortgage and credit card and car.... but some months I don't make enough for all expenses. How do I work velocity with random income. Example: some months more than enough and some months not enough about 500 negative.
I've been watching your videos in search of a solution...this is something that can probably help me, but have you addressed what to do in the event of identity theft?
Awesome job !!! thank you !!! you rock .. Bless you and keep up the great work , hoping to figure out how to get this going with out a line of credit , pretty strapped , but will figure it out :)
Hellos. Christie, (I Pray I spelled your name correctly:) I wanted to know if I could still use the Velocity banking method if all my credit cards are maxed out and I don't qualify for a personal loan? (please Me... I want to be free of this debt. Thank you in advance.
Would it be okay to pay higher interest card with another lower interest card by using courtesy checks as interest does start as soon as check is cashed, no 30 day grace period?
So I'm interested in a heloc. Would you recommend using the aven card that is advertised in your video or should I try with my mortgage company? Thank you
I have discovered I can make my mortgage payment from Plastiq using my discover card. The fee is about 20 on a payment of 1084. Should I do that or just continue paying mortgage from my bank?
I get paid bi weekly. I started velocity banking last month. I made two large payments to my Nordstrom Visa card and the flagged my payment for possible money laundering. I had to ask them to release a payment. Not a purchase- a payment. Is this legal.
Hi Christie, I have decided to get a HELOC to pay my mortgage and other credit card bills. But can you explain when is the best day to pay your credit card or LOC back? Is it on the due date, or the closing date, or does it matter? Also, when is the best day after paying it, to borrow it again?
@user If you can make your income deposits before the due date (weekly, biweekly, monthly…doesn’t really matter) by the due date…then pull expenses after the statement date….that helps save on interest as well.
I don't have a line of credit nor positive cash flow. Help me get out of my credit card debt, please!!!😮 and would a heloc, help us pay the truck off quicker?
I am a little lost. So when you say transfer your paycheck into your card balance, minus stuff you can't pay with your CC (i.e. mortgage, car payment), you mean actually make a payment towards the card of say for example, my check minus house payment and car, is $700 per week. So then you reduce your balance and you use the available credit to pay your other expenses?
with velocity banking do you budget for bills that only come up occasionally (eg car maintenance, vet visits, etc)? i have savings for that (which is comforting because i don't have to go into debt at these times), but after watching several videos i am now wondering if i should use that savings for debt payment instead.
How do I make this work because I have a seasonal business and I only get income for about seven seven and a half months The other 5 months to 5 and 1/2 months I have no income coming in so usually what I do with my business as I save up enough money to get me through the winter but how does that work when I literally have no paycheck for almost five five and a half months
If it was possible would it make it easier if you put all your due dates at the end of the month so you could easily use your income as a monthly income and take out your weekly expenses out of each paycheck and then take your cash left over and save it to the end of the month and then do the velocity banking?
If you fall short on cash, you can always make a credit card payment and do a cash advance to pay another payment or another card and it will still show that your first card had a payment made to it
I used to get paid Weakly. Very weakly.
😂
Exactly 😊
OHHH NOOOO😂😂😂
Worked for me so far
That's hilarious!
My recommendation is to pay 1/4 quarter of all your bills including your credit card each week automatically through your bank, and add in an extra $5 or $10 per bill . If your electric bill is 120 per month or $30 per week, pay $35 or $40. Within a few months you'll have a nice credit with all your bills . Some months are also 5 weeks depending on when you make your payments. It takes the pressure off, you're always ahead and never late on anything. If something comes up unplanned, no problem , you could pause your bills one week and you'll still be fine. I know it's a money game but you're always the winner. If you're jammed up with too much debt, Velocity banking could be the way to go. Stay disciplined though and fight off that debt
This is an excellent idea!😊
On a (fixed low) weekly income I paid off my 3k credit card between March and July 2023.
Yes!!! We get paid weekly and it is working so FAST!!!
I'm paid biweekly but full commission sales, so it has been hard to figure out, but bc of Christy I've actually survived this terrible economy. I've not gotten out of debt yet, but I paid everything when my income plummeted. Thank you for teaching me this! You are such a blessing, and I know God put you in front of me when I needed it most. 🙏
Anyone that is watching these videos. This method will work but you must discipline yourself to follow the math. If you start, realize it may take a YEAR or TWO or MORE depending on your situation. Do not start, see that you have freed up some debt and go on vacation or buy a new car.
I'm paid weekly but it is different every week. I work in the "gig economy ". I love how you explained figuring the weekly amount for the income transfers. I've been paying on my card weekly but seeing only a little improvement. Definitely going to re- run the numbers for my expenses to make sure they are correct so I can start making some real headway! Thank you for this video! It's exactly what I needed to see today! You are awesome!
One suggestion is to get an accountability partner who you can do Velocity Banking with together. Singles with singles and couples with couples. Make it fun. I agree when you see the debts decreasing you sleep better.
Good to know I work on tips daily. I would want to transfer funds in daily when possible
That’s right Vann. Discipline first and you will see movement in the direction you need to be going in.
I feel as though I'm doing this wrong. I'm so fearful I will do it wrong and we'll be in a worse position. I know I have to stop saying that. I need a how to and will be reaching out but this is not as in depth as I need to show me how to complete this correctly. Thanks Christy!
It is scary! But less scary than being 'responsible', making traditional payments and NEVER GETTING AHEAD!
@@stacey9003true
Truly appreciate your work i’ve been watching your videos. I’m also a retired fire fighter who have to keep working and do a very poor job, budgeting my finances I get paid weekly and I’ve been trying to figure out how to do velocity banking on a weekly pay scale. Thanks again you are truly a blessing.
Thank you change my life for the better.
I just searched for bi weekly velocity. Thank you! I think you answered my question. 😅
Your videos inspired me to get started. I am compelled to divide method between 2 cards because 1 limits the number of payments into the card i can make per month. But it's still working, a little slower. But making progress. Thank you, you rock!
This was much easier to understand with our weekly income/expense plan. Thank you for this!
YES!!!! I am soooo EXCITED❗️💯 Thank you so much 🥰💞🥰🙌🏼🙌🏼🙌🏼
I get paid weekly. I happy to see this one
Very helpful.
God bless.
I do velocity banking banking weekly. I paid off my CC's with a PLOC. Every week I make an income transfer into my PLOC as a principal only payment. I charge my monthly expenses on a CC. When the CC bill is due, I pay it in full . I simply transfer funds from my PLOC to my checking account. The transfer is instantaneous because my PLOC and checking account is with the same credit Union.
Hi- trying to start this. So when my paycheck is deposited I transfer the whole check into the PLOC? And to pay off a bill I transfer money from the PLOC to my checking to payoff the bill? I also use a cc to pay groceries etc (payoff balance monthly). Do I transfer money from the PLOC to pay off monthly as well? My PLOC is connected to my checking.
@@SL-bo7ui you got it!
@@SL-bo7ui when you are transferring the income funds from your checking account to your PLOC you do it as a payment (principal only pmt).
@@earlsmallsthank you! If it’s at a zero balance and I transfer money to it then it will show a positive balance?
Enjoy your videos.... remember you from the Thicket in SC
Yes thank you for this video
Oh my gosh i got it!!!! After watching your mini course I got part of it, then i found your excel worksheet (do u have a vidoe on how to fill out the worksheet?
I think i understand after filling out the worksheet, knowing my numbers by going through my debit/checking. And how you pick the highest payment cc, now i get it!! So thankful, next step change the auto payments to that highest paying card and make a payment to the card. Ty Ty!!!
I love that, It's time to ADULT-UP. !!
My velocity banking question is about WHEN to make the payments on the credit card. Should I make bi-weekly payments or pay the whole payment a few days before the due date? Or break it up in weekly payments?
Going to try this
Good stuff! Thank you!
This is awesome because I get paid bi-weekly
Thanks Christie
Can you do a breakdown using the method you use in your other videos?
To me your strategy works better if you’re paid weekly but it’s a challenge for me because I get paid biweekly. How do I manage that?
There's a video for biweekly. It's what prompted me to look up this one for my situation.
My pay isn't steady, it is random month to month. Some months I make enough to put enough into cc for velocity banking and set aside money for mortgage and credit card and car.... but some months I don't make enough for all expenses. How do I work velocity with random income. Example: some months more than enough and some months not enough about 500 negative.
What is the best Due date for a credit card you recommend on having it every month? Thank you for all the knowledge you share with us!
I've been watching your videos in search of a solution...this is something that can probably help me, but have you addressed what to do in the event of identity theft?
Awesome job !!! thank you !!! you rock .. Bless you and keep up the great work , hoping to figure out how to get this going with out a line of credit , pretty strapped , but will figure it out :)
Great video, help me a lot. Thanks for the details.
Hellos. Christie, (I Pray I spelled your name correctly:) I wanted to know if I could still use the Velocity banking method if all my credit cards are maxed out and I don't qualify for a personal loan? (please Me... I want to be free of this debt. Thank you in advance.
6:22 I thought the $240 CC Payment wouldn’t become cash flow until the CC is paid off. The interest is still an expense, right?
Where did u get the number 1313 for total credit cards expenses??
7:58 Wouldn’t it be $211/week that stays on the card because we have to account for the $50 interest per week?
Can you do a monthly pay breakdown. Or can u share the link if you already have a video of someone that gets paid monthly thank you in advance.
Great example. Appreciate it ❤
Would it be okay to pay higher interest card with another lower interest card by using courtesy checks as interest does start as soon as check is cashed, no 30 day grace period?
Can you still do velocity banking once you’re debt free?
This would be a great video. I hope she does one
Sure! But you can also do something she calls Infinite Banking - look for her videos on that.
So I'm interested in a heloc. Would you recommend using the aven card that is advertised in your video or should I try with my mortgage company? Thank you
Some of my bills have a small transaction fee to use my credit card 😢
Anyone here Canadian and applying this strategy successfully??? I think it can be done, just curious to know if others in canada had success!
I have discovered I can make my mortgage payment from Plastiq using my discover card. The fee is about 20 on a payment of 1084. Should I do that or just continue paying mortgage from my bank?
I get paid bi weekly. I started velocity banking last month. I made two large payments to my Nordstrom Visa card and the flagged my payment for possible money laundering. I had to ask them to release a payment. Not a purchase- a payment. Is this legal.
Where is the $328.25 coming from??
Is it more beneficial to pay annually when possible or monthly, such as car insurance when using the HELOC method?
My Discover card shows APR on purchase amount, not daily balance?
Hi Christie, I have decided to get a HELOC to pay my mortgage and other credit card bills. But can you explain when is the best day to pay your credit card or LOC back? Is it on the due date, or the closing date, or does it matter? Also, when is the best day after paying it, to borrow it again?
Thank you for answering this.
Before statement closing date
@user If you can make your income deposits before the due date (weekly, biweekly, monthly…doesn’t really matter) by the due date…then pull expenses after the statement date….that helps save on interest as well.
I don't have a line of credit nor positive cash flow. Help me get out of my credit card debt, please!!!😮 and would a heloc, help us pay the truck off quicker?
Yes!
Do I need to time my deposits and transfers with the statement dates or?
How can I do velocity banking when I am self employed and don’t receive a regular pay check?
Playlist has COMMISSION video…
I am a little lost. So when you say transfer your paycheck into your card balance, minus stuff you can't pay with your CC (i.e. mortgage, car payment), you mean actually make a payment towards the card of say for example, my check minus house payment and car, is $700 per week. So then you reduce your balance and you use the available credit to pay your other expenses?
Yes
with velocity banking do you budget for bills that only come up occasionally (eg car maintenance, vet visits, etc)? i have savings for that (which is comforting because i don't have to go into debt at these times), but after watching several videos i am now wondering if i should use that savings for debt payment instead.
Hi Christy.
I’m 😢 the velocity banking system is not going well for me. I used the debt reducing credit card method.
Why isn’t it going well for you?
How do I make this work because I have a seasonal business and I only get income for about seven seven and a half months The other 5 months to 5 and 1/2 months I have no income coming in so usually what I do with my business as I save up enough money to get me through the winter but how does that work when I literally have no paycheck for almost five five and a half months
If it was possible would it make it easier if you put all your due dates at the end of the month so you could easily use your income as a monthly income and take out your weekly expenses out of each paycheck and then take your cash left over and save it to the end of the month and then do the velocity banking?
What if you get paid byweekly and your spouse gets paid monthly
Please help me you don't know how close to my end I am
If you fall short on cash, you can always make a credit card payment and do a cash advance to pay another payment or another card and it will still show that your first card had a payment made to it
Never make a cash withdrawal from a credit card, the fees and the higher interest rates will kill you
Can you give me your email so I can email you questions that I have. Thank you so much