How Can You Have An Extra $480 Per Month AND Eliminate Multiple Credit Cards??
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- Опубликовано: 6 авг 2024
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Only thing I am mad about is the years they took advantage of my ignorance before watching ya videos!!!!
Fabulous this works. 50k paid off in 8 months. Priceless.
Glad we got you to help us!!
Working on raising that score. I can’t wait to get that PLOC! I can’t wait to release that stress.
To raise your credit score ..obtain a cash secured loan or credit card from a credit union or bank. Make on time payments for at least 90 days watch your credit score go up and the financial institutions start offering you more credit..especially 0% credit cards. This helps to get you started.
Thank you so much, I feel we still have hope
I love this!!!! ❤ Now. Discipline!!! Discipline and focus!
Basically, taking the cash flow towards that credit helps tremendously
Christy, off subject but your outfit is very flattering, so cheerful! I'm happy this man found you. I'm starting on my credit cards this week I'm excited thank you❤
Thank you sooo much for helping me get my life finances back on track.
So happy for you!
This is like interest rate and cash flow optimization to maximize debt payoff with minimum interest expense. Fantastic!
I'm not sure what I looked at that prompted your videos to be seen but, im glad. Im a single gal wanting better in life. Since my life is half over, no better time to start trying a new strategy lol.
Thank you for sharing this information
Love your content Christie,if possible, could you do a video on making daily payments on the credit cards and the benefits it has on your credit score
Thank you so much for this video!
You can do the same thing in 8 months with out taking out a line of credit by just by putting the cash flow amount to the credit cards, highest intrest rate first and work your way down every month. For 8 to 9 months. You're not saving that much, and you didn't have to take out another lone!! I have done it several times!
plus these numbers dont add up. she only including part of the expenses for rent and utilities. but her had 2715 of expenses... not accounting for like 300-400 of expenses and plus that last month he still has to pay rent and utilities, so it will take another month to wipe out. aside from the lower interest rate, this is deceptive. even with a 680 credit score if his income isnt high enough he might get rejected.
@@natarshiapeckthe missing 400 was paid off by paying those credit cards with a line of credit. This, the living expenses went down immediately. Cashflow is king!
Thanks for all your knowledge and help in this difficult times. I share your channel with my daughter,so she could understand this important financial advise.
Beautiful!
I just wanted to say thank you so much for helping me see things in a completely different way. I feel like I just won the lottery. This is such an amazing way to live. I'm now using my credit cards the way they should be used. Getting out of debt and not living with the paycheck to paycheck mentally.
That's EXACTLY the way I felt! Such a wonderful freedom!
Always great content. Thank you so much!
Thank you for watching!
So i did zero interest balance transfers on all but one of my credit cards and now i’m implementing your strategy. Thank you. For first time in years i can breathe again because i have a plan that works.
Glad it was helpful! So happy for you!!!
You are awesome ❤️🙏🙏 THANK YOU for all your knowledge on $$$ getting out of debt !!!!!! 🥰 God Bless You 🙏❤️
Thank you so much for your kind words!
Christy, Thank you so much!
Any time!
Great video, thanks!
Yes yes! Love your knowledge and you sharing with us! I thank God He helped you out of debt and you now give back bc you aren’t trying to money grab while helping those in need. God bless you Christy 💞🥰
Thank you so much!
You are awesome! ❤
Thanks! Bless you!🎉
This is awesome!
This is amazing! Thank you!
You're so welcome!
You are definitely the "GOAT"!!! My parents and grandparents were great with money but you show a better way. Keep the videos rolling love them❤
Love your channel 🎉🎉🎉🎉🎉
Good morning, I went to your website and I was trying to finish my Information and submit, but it would not allow me to choose which program I was interested in, but unless I choose it wouldn't allow me to submit my email information. I love your videos, they have been a true blessing.
Thank you xoxo
Thank you!
Love your videos
Thank you and God bless
New subscriber. Thank you
awesome!!!
Makes sense to me!
We are we not teaching people this in high school? Best video!
Hi! Love the content. Can you do more videos showing how to use a credit card to get out of debt. Credit is tightening and many of us have to get in a better position/raise score to get a HELOC OR PLOC
Christy, Thank you so much for what you share. It is so helpful.
i would like to knock out some debt. What are your thoughts on using a credit card called Aven that is backed by your home equity? I received a offer in the mail. Thank you!
I wrote out my plan…. My goal is Jan for my hELOC.
Thanks so much for all this encouragement.
I'm following your lead my goal as well. I gotta get a better score and pay off a couple things but I think it's doable.
Awesome❤
Thank you
Could you go thru same scenario without a PLOC?? Thank you for your content.
Paying down the cards I see and that's really good but is getting a line of credit as easy as you make it seems.
I love your video they are very familiar to me some thing I used to play around with when I was a young adult just trying to manage my out of control financial problems. I have a question though, how do I work a 4 small credit cards all with interest and you only have income of $1506 with +/- 300 -400 cash flow? Just not sure how to start
2 uploads a day? Keep cranking them out.
Could the US Government do Velocity Banking? Maybe you could do a video to help them out. We're all trying but they don't seem to care about our future or our kids and grand kids futures
I rewatched and saw a notice that the whiteboard has an error at the top. Correction states his Expenses, at the top of the board, should be 2330. Then, once he is no longer paying his 480 towards his credit cards, his monthly expenses are 1850 plus his line of credit interest.
No mistake...Income transfers eliminate the monthly payment due....so that payment becomes cash flow
Thanks for the updated totals for this strategy scenario. If he couldn't get a line of credit, he could use his cash flow to start paying down his credit cards, correct?
Thanks for encouragement, no matter what our personal situation is! Appreciate it!
Christy I just found and started watching your videos and I have one question please: can you help folks who have filed a Chapter 13 bankruptcy? I feel hopelessly lost as though I’m in prison and will never get out of this nightmare!
I really need recommendations for lines of credit! I have a cap payment, 22 credit cards and a mortgage. I have gotto figure this out😊
Love the videos i want to get a line of credit but kind of maxed out on two credit cards. Not sure i could get approved. Thanks for the videos.
She shows in one of her videos how to use credit card to do the same thing.
@@dachsymom5232do you have the link?
Do you have a video that shows how to use a heloc to pay off credit card debts, personal loans, and student loans; and how you pay for your monthly expenses through the heloc?
She has several, just check on her channel and search for the term.
Wish i would have seen this type of information 15 yrs ago
Can I use a line of credit to pay off my student loan? God bless you for this teaching .
I guess if it sounds too good to be true, then it must be Velocity Banking 😘
Who are your top picks to go with as far as a line of credit?
Hi Christy,
Can you get a line of credit if you don’t own home? What are other ways to get line of credit? My credit cards are all maxed out and I’m seating at 570 credit score.
I'm new to this. I wish I could have someone like you show how to do this in person. I do have a line of credit of $5k. I had it since 2008 but I've never used it lol. I don't have any debt. So this is how I do my monthly payments. I use my credit to pay for everything. I'll pay utilities by bank other than that I pay off my credit card every week. Is this a good way or no.
Would help if you 1. Clarify where a Loc comes from ex a heloc, cc, personal loan. 2. Mortgage holders and other bills cant be paid each month with a cc, if that is used as a line of credit. So, how would those bills get paid? 3. Does Loc allow for withdrawls each month to pay for these expenses. If using a cc as a Loc, then cash advance fees apply. Lastly, one would need to know exactly when the interest charges are added back to the loan so that a large payment could be made beforehand. That could be tricky. Overall, need way more specific info on types of Loc's and how they are used and obtained without this info, I find the videos very perplexing
Did you figure this out?
@@labelleza7065 I did, seems it's all about getting a line of credit to tap into. I only know of home owners being able to do that. Anybody renting, not sure where they would find that type of loan product.
1. A personal loan is not a LOC. 2. Any video that uses a cc as loc, she puts the info in that specific video. 3. LOC refers to either HELOC or PLOC- used the same, but have different requirements and can be used for any/all bills mortgages, rents, etc. 4. LOC allow for withdraws by transfer/checks/card based on the terms of your line. 5. It’s a daily average balance, if you keep your income in it as long as possible and pay bills as they are due, that will be the determining factor of how much interest you pay, not so much when you deposit your check. Hope to this helps.
How do you get approved for a PLOC when you have so much debt and your cards are maxed out, won't the bank see that and deny you?
Could you put all your income, including income that is needed to pay bills not payable by CC, mortgage, car payments, etc, then cash advance out if the CC when payment is due?
Wish me luck im going all in I currently have 2 credit cards one with a balance of $3800 with like 29% interest and minimum payment of 100 a month and another one with a valance of $1600 with interest of 24% minimum payment of $45 what do you recommend to pay of first the lowest balances or the highest balance first? Thank you so much, I was just too scared to add more balance to my credit card with my living expenses and bringing the balance higher. But I’m definitely going to give it a try. And try your way. ❤
Every time I think I have found one of your videos that would work for me, I see LOC, PLOC or HELCOC. I live in an apartment and or don't qualify for any of these.
I love your video's but my question is how do I go about putting things on my credit card? Can credit cards pay my phone or electric bill by taking them out on auto pay?
Yes
Not sure if you have a video on this. If I use a credit card that is maxed out. I place my income outside of my mortgage/car payments on the card. Do you have to wait till the credit cards close on the statement to start using them to pay bill/ expenses? I never see example on paying the card and when to use it. Thank you.
Good morning how are you? I would like to know if I have a car loan and my payment is $744 per month what can I do to pay it off sooner?
I've been watching your videos over and over trying to wrap my head around what you are saying. What I hear is put all your income into the line of credit but you can't pay your house payment, HELOC, or loans with that. How are you making the mortgage payment? I have an Aven card I'm not sure if that is a HELOC or just a credit card my limit is 30,000 but I only have 1288 available on it right now so I can't use that in the way you are talking about. I have several credit cards nearly maxed out. My husband passed away 2 years ago and I made some bad financial choices which I regret now and I'm afraid I won't be able to get out of debt. I need help.
Do I work on paying off the highest interest credit first even though it’s not a large balance?
What is the recommended strategy for mortgage of 2.37% rate no cc debt
From the calculation I found that the interest of a HELOC would be significantly higher than just putting extra
large chunks into my mortgage loan every
three months
Your thoughts?
Well I wish I would have seen this video before I used my LOC. I just paid off my credit card debit with my LOC and now I’m trying to pay down my line of credit. What would you suggest if this happens and is it possible to still do velocity banking.
Hi Christi, do we put the expenses on, let’s say on pay day and then we take the expenses out the same day? Or do we wait 24 after to add back on the expenses??
I have a question that I don’t think anyone has ever asked you before. How do I do Velocity banking with a checking line of credit? being that a checking line of credit protects your checking account from over withdrawing and wouldn’t that be the same as just using my checking account at that point?
What if we don't have any credit card debt, yet we have little cash flow. Is velocity banking worth it for our 7 year old low interest mortgage?
Pls do a video for max credit cards and line of credit..what else can we do to get some spare cash..pls help!
Go to my playlist. I have some videos on negative cash flows...
When I set up a HELOC ....do I need to let bank know I want to use the acct for all my business deposits?
This wouldn't work in the UK would it? I think the only line of credit here would be a 0% credit card?
How do you calculate the total Expenses? Living & rent don't add up, so I am missing something with the CC payment I think.
My question/concern is a personal loan isn’t a revolving line of credit so if I get one and put my income into it, how can I use it to pay for my expenses? I can’t since it’s not revolving like a credit card right?
Also is it okay to put things that are no interest like a light and water bill into a line of credit when using this method?
Lastly why do you never suggest getting a 0% interest credit card to do a balance transfer? I know there is a fee but it’s small and usually no interest for 12-21 months.
Thank you
Question what about getting a heloc loan instead a line of credit
Closing costs for a LOC when I checked are $2700 at the lowest. How do you get a LOC without paying so much in closing?
I have $15,000 in debt on one credit card and $3500 line of credit. My credit card interest rate is 9.90 % but my Line of Credit interest rate is 11.99% I don’t know if this method would work. Since the the rate is higher
I respect your work in Finance..one question would be..with the cash flow going into the monthly payoff as well.. if you need that extra for a sudden expense.. would that slow down the payoff process right? Love your efforts ❤
Yes...LIFE WILL HAPPEN.
What if you don’t have a home to get a HLOC? What bank offer a personal line of credit?
Where is this LOC coming from? If you are renting, you can't get a HELOC. If you have four maxed out credit cards, I can't imagine a bank giving you a signature loan. Since the credit cards are the "emergency" fund, I am assuming there is no savings account. Where is the collateral?
At what stage of the month do I pay more into my debt to pay it off
I have tried to get a loc, but keep getting turned down. They’ll give me a car loan but not a loc. depressing for sure.
Hi there! I’m new to your channel and am a firm believer in velocity banking. I have some questions that I’d like to ask about my current situation. Can we setup a time to chat live?
What is the solution for high credit card debt when your husband is the only one that works? I can't go get a loan with no income so how do I get my debt down?
I cannot seem to find the free worksheet download! Please help! Ron
what if they won't give you the ine of credit. I pay everything on time and my score is 580. I quit Dish after 17 years. they offered me $83 a month so I agreed for another year, then they sent me a bill for $127, so called them back and said no. Then they sent a bill for $260, I don't kmow for what because they had already shut it off. My equipment was 10 years old! Anyway my score is down. Where could I get this line of credit?
How do you handle the living expenses that occur once a year? Do you divide them by 12 and add it to the month living expenses? I'm working on the spreadsheet downloaded from your website. Thanks
Yes, you can.
If you rent not own, where can you get a line of credit to pay off credit cards?? Wouldn't just be a personal loan?
I have one credit card, score of 820, and minimum payments are creeping up. What is your suggestion of fixing this debt. I've refundable two times in the past due to high balances.
What am I missing? This whiteboard shows income of 4260 and expenses of 2715….then she uses expenses of 1850 for each month. Where does that number come from. Subtracting 480 (the minimum credit card pmts) from 2715 equals 2235. I must have missed something
PLOCS are running about 20%+ interest today. Is that too high to use it for this process?.
Great video Love it!..... Quick question I have, if majority of your bills are on automatic withdrawal should you cancel that because it defeats the purpose of putting all your income into a line of credit if I have to turn around and take it back out to put it in the bank account for the withdrawal? Thank you for all your help.
I have all of mine on automated to pay minimum payments…then I chunk as needed.
@@VanntasticFinances thank you for the response..... keep up the amazing work
Where can I get a LOC if my credit is in low 600’s?
If all my credit card balance debt won't fit in to transfer to LOC...? what do I do?