Velocity Banking Changed My Life. The Basics with a Lifetime of Pictures
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- Опубликовано: 10 окт 2024
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4 months into velocity banking, car is paid off, credit card is paid off(150 dollars cash back redeemed), credit score +128 points to 801 in February, interest paid on PLOC 35 dollars(+150 CC cashback -35 PLOC interest= +115💵), Thank You Vanntastic for all the FREE knowledge🤠👍
Amazing!!!
I don't understand how this works 😢, what's a good video to watch,for a beginner?
@@nikkilove7803 you can just binge watch Vanntastic videos, it's not magic, it's math, it's all about tackling debt with money that you don't have but "made available" to you (Line of credit), so instead of the conventional way of "paying off" your debt (money goes away, never comes back), you use the LOC to "revolve" your hard earned money. Example: say you get paid 3k/ month, and you have a line of credit of 3k, you take the 3k made available to you and put it towards your debt, and then you service your line of credit by transferring your income into it, so immediately you have 3k more available to spend, pay off more debt, so you are "servicing" the LOC(with your income) and "servicing" your debt, expenses, with your LOC, your hard earned money doesn't go away, it's revolving
@@nikkilove7803 Start watching this channel's videos. Follow along with Christy and write it down as you go. Pause each month's transactions until you understand what happened.
How did you do this?
This lady is already a legend. I started using her teachings last year and had over 1 year to pay my car off. I paid it off yesterday, 9 months early! Thanks to Velocity Banking! She is brilliant, I urge everyone to watch her and follow her teachings. It works.
@shamblesman CONGRATULATIONS!! Thanks for sharing!
Oct 12, 2023 was the day my life started to change for the better. That was the day I subscribed to this channel. I was 100% LOST financially. I have poor credit, poor income, poor financial decision making skills. By the end of January 2024, I was able to get my credit card caught back up and in good standing. It was ONLY had a $750 credit limit and still does. I was then allowed to get a second card, remember bad credit, so it was only for $300. This gave me $1050 to work with. My credit score has increased about 50 points so far and I am only behind in one monthly payment, once that is caught up the ticker starts the countdown that late payments will start dropping and my credit score will start jumping up. Thank you Christie!!!! You have helped me move from "existing" to Flourishing!!!
Inspiring, it proves it works with small limit credit cards as well
I have known this young lady for 35 years… she is a wonderful person… ❤️
After starting velocity banking and then being in finance myself and realizing how much interest I’m paying the bank, I don’t even want to pay them $100,000 in interest is doing velocity banking and I just bought my house in April. I am packing up my house. I bought an RV and I’m going to build a tiny home Lord willing. Your videos really got me thinking about consumption and I realize I’m consuming too much house. So I am going to keep my line of credit because I’m in sales and I find it very helpful to have that buffer and build a tiny home myself without paying a ton of interest!
Thank you for your content, you have put me on an accelerated path to paying off over $1 million in bank loans. And, I now have an extra $2K in cashflow each month. Brilliant!
Love the photos, thank you for sharing!
This is what I’ve done. I dump all my money into the HELOC. My checking account has overdraft protection from my HELOC, so I keep my checking account empty and it just pulls from the HELOC. My bank has no fees for overdraft. I have everything on auto pay that I can’t pay with a credit card. I use my Apple Card for the rest. It works period. I was scared at first because it’s non traditional. Trust me , it works.
I don’t have a HELOC yet but I use a zero percent credit card for everything except my mortgage and electric. It’s mind blowing how well it works but it took me awhile to get use to having nothing in my checking account.
It’s amazing how much debt you can hammer out super fast.
@@sugarray8820I’m just starting with Velocity and I’m scared too! Waiting for the decision on my HELOC… in the meantime I’m watching all Christy’s videos!
I'm in down 125g on mortgage 0 percent cards, ploc. It works
I love doing VB. Im not going to lie i thought this was too good to be true. I was approved for a 10k LINE OF CREDIT , and tried it out for Shits and Giggles. I wss very happy i did it and got rid of a lot if debt. I am currently in the process of getting a HELOC.
Thank God I found you and clicked to watched your videos! I mapped a plan to pay both my car loans off in 7m vs. 3 years with my 1500 credit card all with your knowledge! This gave me so much power and motivation to then apply to my other debts after that is out the way. Debt to income ratio is going to look beautiful in less time than I thought. Thanks again!!
VANNtastic!
Hi, please explain how you did this ... I am still lost.
Congratulations to you
3 mos. into Velocity banking and thanks to Christy we were able to get our debt down so I could get my dream bathroom.
You have helped me so much as a young disabled woman. I have been able to make some home improvements because of your teachings without feeling like I will drown in debt. It’s amazing to watch your channel grow from a couple thousand when I joined to now almost 190k! Unbelievable! VANNtastic!! 🎉
I just cannot thank the work you do enough. mom is a CPA but has never been able or really tried to teach me how to behaviorally deal with money and is so judgmental and it's such a breath of fresh air. My husband told me when we got married he just "figured" I'd know how to budget bc of what my parents do for a living
You are a Godsend! I am following your instructions to a T and even showed it to a friend. I will teach others and share your channel along the way. I thank God for your desire to teach and I ask that he keeps you and your family safe.
You have helped us immensely! We were paying cash for our house build. It was taking forever. Now that we've learned velocity banking, its making our home build so much easier by using the line of credit! The house is 90% finished, and we have 6 more payments to make on the card. A beautiful debt free home is amazing! We will definitely get a first lien HELOC when its finished for the next project!
Awesome!
@ceedee8953
Do you mind explaining what you did? Meaning how did you use the LOC to build your house, thank you.
@genevafurtick145 I use $12k at a time for supplies and labor. It takes us about 3 months to pay that back and we spend it again for the next phase. GCing is a whole lot cheaper than hiring a builder. Framing was $8k, wrapping windows and doors were around $7k. We stay in an rv on the property while we build. We have $50k in available credit.
Excellent information!!!
You have found a passion and promoting truth and it is freeing people.
There are many types of warriors on this earth. You are one of them. You may not be wielding an actual sword but your information cuts through the madness nonetheless.
Keep up the great work and being a willful vessel for truth to flow through.
Thanks a million.
@Tfit7 WOW! Thanks so much for! God bless you!
@@VanntasticFinances I recognize you are doing God’s work and this is inspiring me to do the same but in a different area / subject. Your subject matter has opened my eyes to a whole new way of doing things. 👍👍👍
I have been binging on this subject for several days now,not sure when I started, but it’s blowing my mind. So positive.
I will be having to get everything down to a dime like she says. My income is not stable though per week and per month. So I am looking at that, and of course the need to get down pat everything. I’m also looking at credit building/repair, and infinity banking. Wow. Don’t want to get overwhelmed but I want to get my finances very organized and now for the first time in my life I feel good about it!
Awesome! :)
Love how you shared your family life with this video! Made it really enjoyable to listen to the video. Very creative!
Love this Lady she always laying it out there for us
I started watching your videos 4 days ago and I just refinanced my 2nd mortgage today into a Heloc and I am ready to start pouring my paychecks into that baby!!
I can't believe how much your channel has grown since I came across it last June! Thank you for all your videos. You explain it so well!!
Found you through another investor. We were talking about debt and she told me about you! My husband and I are on board. We got approved for a $10k LOC . That won't cover our debt as a whole but it's a start to get rid of one ccard at a time.
Love the pics Would like to see the whiteboard through out entire video
........
Hi Christy! I am glad that I found you 3 months ago.
This is for anyone who is in dire straights. I live alone, so when I go to bed at night I turn off all my fuse switches except the refrigerator. You can't imagine how much that helps. I also don't use the heat in the winter time, so if I am freezing, as I am now, I cook something on the stove. Also, I invested in some QUALITY motion lights, so whatever room I walk into, I have lights. My friend started doing (only using the motion lights) it and the bill went down about $50 because her husband always leaves lights on at night.
I really enjoyed your comment. Have a great day.
@@Jesus-kt5dc Thank you!
Wow. I've been in that place before. I had to borrow gas money to get to work. Good luck to you.
🥰@@michaelking42
where is Christy's worksheet. I love her, she's AWESOME!!! CARING HEART!! Nevermind I found the worksheet, just gotta read. HAHA
I absolutely loved seeing all the pictures of you and your family - your daughters are all as beautiful as you are!!
I Love all the personal pics. BEAUTIFUL FAMILY! I've been watching for quite a while. I have since gotten a PLOC and a HELOC to deal with an unexpected high debt (due to an ex bleepidy bleep). Thank you for what you do. I'm on the road to financial recovery. I had no debt when this happened except my dang mortgage.
Made an excel sheet for 48 months with money coming and going. Will make chunks to car loan, 5 year loan will be paid in 14 months. After that some saving/mortgage chunks. It works. Best is having the flexibility. The money which goes to loan goes. If one chunks income to the loc (and if doesn’t spend like crazy-we never do), the loc payment is not gone like loan payment. It is there to use for emergencies, flying roofs, broken dishwashers, plumbers.
Key 🔑 is to know All of your debt. Your living expenses, your credit cards and insurance, etc.
Knowing all your debt and all your incoming cash is crucial information to have before you.
Love you Christie! Thank you for teaching us this!!!!
Love that big 80s hair!
I really need to do this. I just your video. We are in so much debt and i dont know how to get out of it. But i need to understand the velocity banking first 😊 i for sure a lot to learn about this. Im excited to learn more. Thanks so much!
Why is the screen totally blocked when you go to the whiteboard? Are you being sensored? When you start working on the whiteboard your logo pops up and blocks the whole screen.
I love your pictures of your family, smile
Christy, where can we get your worksheet?? Your website??? Thanks and keep up the good work!👍😊💯
VANNtasticfinances.com
Our issue is income is Social security. Our living expenses eat most of it. We're doing velocity but it's really hard. We are going to have to get jobs to make it.
I'm sorry to hear that...
Thank you for your video advice.
Wow vanntastic they took down the previous video!!!! They definitely don't want that information to get out. Can you please post the link to the software on your website please!!!!
You can go here now… www.chatwithzoom.com/
Make it a great day everyone.
QUESTION >>> I have a HELOC that I used to consolidate debt along with make repairs to my home. The problem I've found is that my HELOC has a fixed payment of whatever the interest is for the month. I put in $2600 a week before the interest only payment was due and they still withdrew the interest payment. I was given the option to pay only principal with it or not. I chose not to pay only principal thinking it would free up my interest only payment to apply to debts, but to my surprise it doesn't appear that the payment was cancelled even with my payment. I will say this is an autopayment which was part of the deal for my interest rate, so maybe that makes the difference. Question here is Would you still use this HELOC as an option for velocity banking, even if it doesn't cancel my monthly interest payment? The interest rate is a variable and is at 9% currently. Please let me know your thoughts on if this is still a viable option.
Great video as always. Your explanations are getting better and better. More clear. However, your b-roll was very distracting 😢. Although it was great to see your wonderful family. You are still The best .
Sorry, but wasn't interested in showing faces that were in that Zoom.
oh, I see. Couldn't show your white board? I really wanted to see that. @@VanntasticFinances
I'm going to try your Mini Course: Just the Basics. VB, I used it for January and February expenses, but I'm not working it the way it should. I also am using multiple credit cards. Also, I don't have cashflow. Any suggestions greatly appreciated. Thanks.
The Mini Course is just basic terminology... Videos to help with credit cards are in my PLAYLIST under Credit Card Debt Strategies. Thanks for watching!
Look at that 80s hair...I love it!!!
Still got it!!
I still can't send my work sheet, so I'm thinking about taking a picture of it and trying that way, it's driving me crazy,,I have watched a ton of your viedos, but right now our credit score is low we havt to get the score up to 720 we are at a 580,, but it would b😅e nice to let you see my work sheet to see if you see more,,thank you I will try tomorrow the 14th wed God bless Charlotte
Thanks!
Thank you so much!!
Love your teaching! Question...my escrow account is short due to an increase in taxes and insurance. Should I pay the shortage ($1500), so my mortgage payment stays the same OR should I let the mortgage payment go up and I use that $1500 somewhere else? Thanks so much, you're awesome!!
That's up to you. Whatever you feel more comfortable doing. Have a great day.
I was just watching your video from today that you posted 15 minutes ago and it has disappeared. Just wanted you to know. I am trying desperately to get a grip on my past debts and paying off past years of taxes. I was so interested in what this new concept was then it was gone. Because my credit score is only 5.80ish I couldn't get a line of credit today because the bank said I needed a 6.50 score. Maybe you can rework the video so we can get in the game. Thank you so much for what you do. I'm sending your videos to all my friends and family
@faithholbert734 You can go to the webinar that is about to start…. Go here…
www.chatwithzoom.com/
Christy, how DO you live off a line of credit? You mentioned that you needed to do this. How?? I wouldn't live like this forever, but I would like to know.... .Thanks 😊👍
Example: If you have a HELOC with 100K limit and monthly expenses are 3K. You can put your expenses on the HELOC. So you'll have about 33 months to live off the HELOC. Now am I saying love off the HELOC for 33 months? No, it just gives you an idea of how much safety net you have. So 33 months to get back on your feet (a little less because of interest). So how do you satisfy minimum monthly payment? [You didn't hear this from me]. You take the minimum payment amount from HELOC and put it back in. Yes, the balance is going up on the HELOC, but you're no longer treating it like a bill/expense but a checking account. I know some people are probably going to attack me on this comment but it's just an idea (an extreme example of course) of how to live/lean on your LOC. It's not an ideal situation, but I think you get my point. Hope this helps, have a great day.
Anything that can be paid by credit card should be and everything else you set up the line of credit as your bank account so all your income gets deposited to the line on pay day.
All of your photos have consumed the screen… can’t see you or your board… that must have been a mistake??
Hey big hair wow you look so young ,Haha I'm 70
Ok I understand the numbers. But how do I pay my expenses that only can come out of my checking account. Can I have them come out of the heloc instead of my checking ??? (Ex. Electric, Gas, car insurance, mortgage) I guess thats where I'm getting confused
11:21 Love it!! 🤣
So how are we supposed to see anything on the board?
You're not.
Nope, just the logo
I don’t have a LOC. What is the best credit card to apply for. I can’t get one with my bank
Any CC that offers cash back rewards and preferably offers zero pct or very low interest rate for at least 12 months
How you get a line of credit
Where are you getting a line of credit? Is this a credit card?
A credit union or bank
Please review your video. Unable to see you writing on the board because your personal pictures are covering the screen. Thank you
That was intentional.
Thanks Feather. I thought that was obvi. Didn't want to show members faces that were on the screen.
Where can I grt a line if credit. My credit union inky give 3k for kine if credit.
Good morning Cristy. I can’t find a bank that gives LOC what do I do ILO loc. I’m almost 20k in debt with a income of 60k yr.
Loc is short for line of credit. Not sure if that helps.
Look for a credit union.
Great video and awesome photos! I been using vb with only credit cards. I think I found a way to pay my mortgage with a credit card: I use PayPal to send my alternate email a bill for the mortgage amount. Then pay that with a credit card, transfer to checking, and pay the mortgage that way. Yes there's fees but I wonder if anyone else has tried something like this. Looking for a peloc because hubby doesn't want a heloc. Our cards are almost maxed and income is low this time of year. Credit score at 749. Thanks for all you do ❤
@sheila_rabant If your husband doesn’t trust in using a HELOC, maybe he would like the technology platform? You don’t have to have a line of credit or a good credit score and DTI doesn’t matter, but it eliminates debt as fast as using a line. They have a free webinar Tuesday at 7pm CT. Register here if you’d like to learn more…
bit.ly/CV-velocityweb-R
@@VanntasticFinancesI just signed up for this. As I went this last weekend to apply for a PLOC and was turned down. Even though my credit score is over 800. I’m guessing because my DTI is high.
@@justaman2363 You won’t be sorry!
NFCU is offering 11.75% would you consider that to high?
On a HELOC...YES. On a PLOC...NO.
@VanntasticFinances this is the bank i normally use would you suggest looking elsewhere for the heloc
In the variable totals like power, water or amounts that change from month to month do you add a little extra to that in case it does go up or keep it one amount? Like water last month it was $38.00 but this month it is $45.00. Should I leave the amount at $38 or use $45?
Using higher just allows for additional cash flow when it is low😁
How can I get rid of $35,000 of personal loan debt? I tried to obtain Ploc from credit union that I’am a member but was denied. HELP CHRISTY!!!!!!
I would keep working on that credit score to get a PLOC. Maybe try another bank? Find out the reason they denied you and work on that area. Maybe the technology platform would be a good fit? You have options...
Anyone have any experience getting a HELOC on a commercial property? I need to pay off the mortgage and a Business LOC that I'm no longer able to draw from because its been 16 years.
X Gen Rock
How do you pay the loan back?
I’m still trying to understand how this works so I don’t mess it up
Paycheck -> Checking Account -> LOC (park money here) (new checking account) -> Expenses
Hope this helps, have a great day.
Hi did you notice that is this video we don’t see you but a slide of your personal pictures? We hear your voice but see your family pictures on a slide. We see your husband, daughter, somebody dressed to get marry, you hanging of a tree as a funny picture etc.
Also I contacted my bank Usaa and they don’t have ploc.
I believe Christy did an example using a USAA credit card as overdraft protection and do velocity banking. Have a great day.
@@Jesus-kt5dc thank you
@@Brendaozelie In fact let me try to find it for you and I'll give you the name of the video. Links usually disappear.
@@Brendaozelie The video is titled Credit Cards? Student Loans? IRS? Pay them all off with velocity banking. Christy explains in the comments that USAA allows you to link your credit card to your checking account. Which allows you to use your credit card like a PLOC, meaning you can park your cash expenses in the credit card. Hope this helps.
@@Jesus-kt5dc thank you so much
Should I get a bussiness line of credit or regular line of credit
Did we get hacked!!!😂😂😂😂 what’s happening 🤦🏾♀️🤦🏾♀️🤦🏾♀️
Sorry...but have to maintain the privacy of zoom attendees
What about an sbloc?
Is this a slide show?? I cant see you??
How do you feel about transferring debt from one credit card to a new card with an introductory of 0% APR for say 12 months?
Very good, as long as you don't continue to spend. Have a great day.
That’s how I got out of debt. A couple of times over the last couple decades. Keep in mind that if you do not pay off the entire amount by end of intro %, you will be charged interest from the date you transferred that balance.
did you lose video feed?
No...maintaining privacy of others on the zoom
Every time I pay any overdraft they charge 10 each time
Get another LOC
Set up automatic paymemt
Can you use your Velocity Banking method to get out of a Home Equity Loan?
Yes. As long as you have debt, cash flow and LOC, you can do velocity banking.
My heloc can not be attached to my checking I can only draw on it. How can I work this?
Just withdraw from the HELOC to your checking account and make payment from checking account. Have a great day.
How can she preach get out debt but still use credit cards?
If you transfer debt to a 0% apr introductory card it helps reduce interest payment while you pay things off.
Have you watched her videos?
This video has been dupped, I think
Kinda pointless pictures...is it some kind of censorship?? Well anyways, to a different video thst isn't censored.
Dave Ramsey is also against HELOC too
Wake up people. There is no difference between a loan and a line. Mortgage interest is not "front loaded" whatever that means. Any additional money you pay towards your mortgage each month goes towards the principal, and you DO NOT pay interest on it from that point forward. The entire concept this lady discusses is nonsense.
Mortgages are front loaded. You pay the majority of interest in the first 15 years. You are correct about extra principal payments but you put the extra payment leaving you with no money for an emergency. With the heloc there will always be money unless you continue to spend like a drunken sailor which got people into the situation they are in.
@@Sony72604 You are charged interest on the money that is borrowed only during the time it is borrowed, with a heloc or mortgage. There is no difference.
Great video as always. Your explanations are getting better and better. More clear. However, your b-roll was very distracting 😢. Although it was great to see your wonderful family. You are still The best .