We had a snow day here where I live so I did not have to go to work today. I was upset because I don't get paid when I don't work so I lost quite a bit of money (on top of the several days that I lost last month already). Little did I know that I would stumble upon your channel today. It is indeed a blessing. I am so excited to begin annihilating this debt once and for all.
I found your channel a couple months ago and started binge watching all of your scenarios. Started implementing this strategy immediately. So far so good. It makes too much sense and I can’t believe I didn’t start this a decade ago. I would love to share my story in 6 months or so. Once I hit my goal, I’ll have a story to tell and will get as many of my friends as i can in my scenario on board. Cash flow is king.
@@investmentanalyst779 I recommend you sign up for some additional college level math and finance courses and reignite that education. Additionally, you have no idea about my current financial position, debt instruments, investment portfolio, or income. So why make a baseless reply on a YT video?
That's what the problem is, no one will do a line of credit. Everyone runs my credit and if course I take a hit each time I inquire about it, so my credit scores keeps going down instead. I tried bank and I tried my credit union.
I used her advice to pay off most of my credit card debt with savings, then got a personal bank loan to pay off the rest. Now I'm paying the loan off with higher than minimum payments and still using the credit cards and paying them off each month. PLUS I've replenished my savings account. This is definitely a game changer for me. I feel so empowered over my finances.
Once again Christy you have blew debt out of the water!!! It brings me so much joy seeing how God is using you all over the world. Not everybody gets this opportunity. Just think how heavy your crown is going to be when you get the opportunity to lay it at the Master's feet. Man that excites me!! God Bless you and your family.
I'm addicted to your whiteboard. I've practiced this for years with my own debt elimination then through investments and business start up and I still love watching your videos
Really glad I was able to find your channel by accident. Wasn't even looking for financial strategies but I have looked at many of your videos. Talked to my wife and we started this past week using the credit card method till we can get a PLOC. Thanks for all the information that you provide.
Came across the videos this past week. Been binge watching and I'm sold. I booked a meeting with Anna. At 70 I need to clean up and get out of this debt, Thank you for these videos..
I applied for LOC on Friday, I was declined. But this video showed me I can ask and do this with a small line of credit like 5k, not needing 15k. Thank you. At this time I am going to do your method with my discover card which has a balance of 5k, and a loc of 9300. It was 7k last week.
Thank you so much for your content, Van. I was a bit confused about how she would pay rent if all the money goes into the CC. I hope you will offer a live one day. That would be great! Have a lovely day!
Your skill level is and has been for a long time, simply amazing. Many of us have come to this channel, after being lead by the sw eet spirit of our TMH l, who provides wisdom, that he wants shared with those who seek help! My health issues are not as bad as they were, but, I know and trust the Lord, who sent me your way again, thanks for all you tried to do for us! May his blessings cover you & yours forever!
Don't fall into the trap of buying a car that is too expensive for you because you want security or newness. Find something at 33% of your yearly net income or less if you are not wealthy. There are perfectly working cars for $4000 to $12000. The good thing with a cheaper car is that it can be repaired or replaced for cheaper and you can free up tons of bad debt.
I am in the process of implementing this and i have to say that trying to wrap my head around how this works has taken some time but it makes so much sense now. The time it takes to set everything up is nothing compared to the stress of financial debt. Thank you a million times for thinking outside of the box and sharing your content and keeping it digestible. ❤
Hi suppose your income and your debt is the same with 0 $ and you are up to the limit with your CC how does velocity banking work in this case ? And what do you do with the cash flow ?
@winsomecohall2250 I am using a previously acquired PLOC that I hadn't been using with a limit of $5000. I used $4000 and paid down one of credit cards, and left space for emergencies. I then set up what payments I could on that credit card and paid cash for the rest of my bills (which I pull from the PLOC). All of my income and my partners portion of all shared bills get put onto the PLOC (which satisfies that payment) and since I have bills coming off of my credit card when I take payment from my PLOC to satisfy those bill payments it also satisfies those minimum payments. I have already paid down $1000 on my credit card with NO additional income. Also, my credit jumped 12 pts, basically overnight. This has been since the second week of January. So I'm not talking months here.
I am also self-employed and commission based, so my income is super sporadic, and I am in the slow season, and I was still able to accomplish that. Also, my PLOC has been paid to almost zero in that time as well. I would have paid more, but January, everything is due. LOL
Vann is showing you the process but you don't have to figure it every month. You deposit your paycheck and use the ploc or CC to live/ pay bills. The bank does the interest. You only need to assure you track your expenses and are not overspending.
Lol hubby and I live on 1800 a month and our bills take all of our income we have nothing left for food or gas for appointments and our house taxes are behind but I make sure we get food every month and our electricity is always payed however I ended up getting four credit cards that are now maxed just so we could make it. Now that they are maxed I’m not sure what to do. We only owe 13000 more in our house qhich is a land contract not a traditional loan … and can’t afford your services. I’m ready to declare bankruptcy to avoid living in a box lol but we do t even have the money for that … You are a true blessing to so many and no worries one day I’ll figure all of this out , can you dumb it down for me ? 😂
What if your drawn with credit cards maxed out not able to get line of credit do to the low credit score? To pay off credit cards, pay back only one payment rather than 5 payments?
1) I can't get a PLOC from anyone because of my credit score of 640. 2) What if you can't attach the PLOC to your checking/savings account? Do you move the whole thing into your checking account, pay it down with your paycheck, and move the money back again?
This maybe a dumb question but when you get the line of credit do you deposit into your account and like pay yourself? Or is the line of credit like a checking account?
I've been watching a LOT of your videos for the last 3 days and signed up for your initial chat, I just wish I didn't have to wait until Feburary to have a conversation with you, so many questions! For instance, I don't currently have a LOC of HELOC, but if I get one, how much should I try to get? What are the determining factors in deciding how much to get? I want to start this process now! 🤣
When looking into getting a LOC, does "PrimeLine" mean it's not a traditional LOC or is that maybe just the FCU's name for it? I don't want to get into something that's disguised to look like a LOC that really isn't. Are their institutions that you recommend getting an LOC from specifically? Would a HELOC be better than a PLOC? So many questions...
I'm confused and lost. If her line of credit balance was 2587 and she put 2500 in, how did it go down instead of going up? Shouldn't the balance go down if she took from the line of credit?
@@investmentanalyst779 Why are you a hater? This makes sense and gets people out of debt instead of filing for bankruptcy. If you are rich thats great. go troll somewhere else.
The reason your able to make the higher interest rate work in you favor is because your essentially paralyzing money. You can do these formulas and make the bank even better by paying ALL your bills LATE. Then call and have late fees removed. This will up your playing money to knock interested down even faster!
A line of credit is a checking account with money that isn't yours. You can withdraw it anytime. When you do you pay interest on it. As a financial professional, using a line of credit at 18% to pay off other debts is idiotic. This lady did all this only to pay more interest than just paying off the debt directly or just using a debt consolidation loan.
Question, why is all her income going to the loan? Shouldn’t we be subtracting the cash expenses first then whatever is left is what we transfers to the line of credit? I’m lost🤔
A line of credit is used as your checking account (aka debit card). That line is what pays all bills and expenses. This means process works NOT by running down debt with the difference but making huge payments into that line of credit, getting substantially smaller interest rate than where you trasfered from divided by daily interest rate accumulation. That way you reduce that line of credit to low, put more stuff on it (aka bills and purchases), keep dropping down balance. If you watch like 20 videos on this channel it will click. She explains this process on every single video. It does not click at first... you have to have that "aha" moment.
What happens to a Line of Credit when it’s at a zero balance? Does it have a anual fee that they charge? Once one has used it to get out of debt , will I be obligated to keep living off of it? Thanks
What I love about America is how they create catchy buzz words for everything. What I don't like about Australia is how they have to copy it. " Because it's best ,proven practice "
What your talking about I did that 35 yrs ago .I'd get loans to buy stocks used line credit pay back did that 4 times .that's how I made myself multi millionaire..people it's just simple math mathematics
The key to becoming a millionaire is to start saving regularly when you're young, stay disciplined, and make and keep a long-term financial plan . It's also important to understand the factors that influence financial growth, including the rate of return, the amount invested each month, and the length of the investment horizon . By starting early and consistently investing, individuals can take advantage of compound interest, which can significantly grow their wealth over time
In school I was slow in math but received awards for my art! Exactly what is meant by putting my income “into the HELOCK” ? Can my electronically deposited SS deposit be electronically deposited into a HELOC ?
Hello I have a question I have a horrible 2nd mortgage at 9.5 interest rate. My monthly payment is 313.00 and I have student loans payment at 389.00. Do you think I should wipe out the second mortgage when I get my PLOC or Heloc?
Agreed. If you don’t like 9.5%, why would you want to start paying 18% instead? There are only 2 steps you need to get out of debt more quickly: 1) pay more than you’re required 2) lower the interest rate So first, call your lenders to see if there are options to lower your rate. (0% balance transfers, refi programs, debt forgiveness programs, or sometimes just calling and asking can lower the rate) Then determine how much extra income you have each month to pay: Income - expenses - required debt payments = extra cash flow Pay the excess to your highest rate debt every month until it’s gone (usually Credit Cards). When that is gone, take the new excess and pay the next highest rate debt. And repeat. If you run into emergency expenses you can always put that back on the CC. Do this and you’ll get out of debt faster than if you switch to a LOC with higher interest costs. You don’t need a magic strategy.
I hope I win your giveaway so I can give it back to you to do a consult with me (heavy sigh) can't wait till Sunday. I've got a mess 😮 Love watching you and learning but so overwhelmed on where to even start 😢
@@SchnabelMcSchnabel you have a right to your opinion. I find value in the technique. Right now I'm running in circles so having an option to get off this hamster wheel is not a waste of my time. Thank you tho for your insight. I do believe God gives you what you need when you need it. So I don't feel you're qualified to state that isn't true. Thank you anyway. Have a blessed weekend.
Hi. Thank you. What can happen if I put all 😢my income to my credit cards? Is it good to do it? What can happen if i still use the same credit card to pay some bills?
Hi Christy, my name is Derick from South Africa. Please advise if this method would also be applicable in SA. LOC is usually referred to as revolving credit according to our banks. And current interest rate is 11,25% for mortgages and my credit card interest is 21,25%. I have not applied for a revolving credit and my credit score is good at 702
If i pay my entire monthly income to that one credit card how am i going to pay everything else that one month? I'm gonna have to add late fees to the list.
How do you account for the minimum minthly payments on the credit cards if your paying one large sum a month on one credit card balance? If you dont make minimum monthly payment it will be reported on you credit.
Hey, you would put aside the funds for the expenses that are not going to be paid with the CC. Once you get ahead using the main CC you will then start transferring the balances over of your other CC to pay it down. Hope this makes sense.
I am doing velocity without a PLOC or HELOC as I am only working part time, I use a credit card for any chargeable expenses, and leave any cash-type payments in my checking. Its working very well!
@Jesus-kt5dc I file bankruptcy in 2018...my credit just never goes up. Right I have cc with 1000 on it..I try to pay it it n use that. Most of debt can be pay off easily, once I keep up with plan I started..it work slow n it easily to get side track..
Hi Christy-Vann the Christi-an, Love your videos and your Spirit, Hey I've signed up to your giveaway for this weekend but my Facebook account crashed after my cellphone got stolen and I can't recover the fb acct. 'till I get a new phone. Thank the Lord I have a Chromebook to access Y.Tube! Can I still participate in the giveaway on Y.T? I still have my email but no phone 'till I can afford to replace it. Merry Christmas to y'all from us all, (6 kids, 14 g kids and 22 g g kids), Love Ya!
In short no. Cancelling your credit card hurts your score. However, you’ll need to have some utilization to report to build credit. You’ll also need to use your card every now and then or the bank can close “inactive” accounts. I just paid off one my AMEX cards last month. Received notification today that my credit limit increased by by 10%. This card already has a very high limit, but they want that interest money!
No. When you pay a credit card off your score actually goes up b/c you have less debt/income ratio. Just don't close the account. THAT can affect your score.
Do a video where they’re not going to use a line of credit to get out of credit card debt and show actually how that works with interest because I watched one video of yours or you didn’t add the interest. You just kept mining and mining on the balances but you kept forgetting to add the interest back in to see what it really was like, this doesn’t work unless you have a line of credit, so that is not everybody’s answer it’s not gonna happen
The financial market is highly profitable with an expert broker just like Fergus waylen. I got recommended to him and since then my financial life has been a success.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
I also follow the guidelines of Mr Fergus, invested $88,000 in Bitcoin, making 15%- 20% every week. unlike I can say for my IRA which has just been trudging along
Wow! I'm also excited. Fergus waylen strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started.
I don't know why we have to bring the Lord in the such. Common sense things as banking and financing. You need to know that atheist and irreligious and non secular people watch channels such as this is well. Let's continue to embrace the whole country as we ALL need to learn and keep religion out of it.
She didn't exclude you, me or anyone at all. Heck devil worshipers, sinners, undecided all are included I'm sure. She just identifies as a god fearimg women. Doesn't hurt the content none. Everyone now a days expells to the world what they identify as now a days.
Y'all need to do your research before you take financial advice from someone who is not legally licensed to be giving finical advice. Lady you're going to hurt a lot of peoples lives pushing this nonsense.
We had a snow day here where I live so I did not have to go to work today. I was upset because I don't get paid when I don't work so I lost quite a bit of money (on top of the several days that I lost last month already). Little did I know that I would stumble upon your channel today. It is indeed a blessing. I am so excited to begin annihilating this debt once and for all.
Just started this video and almost in tears God is good! I need to understand this I am tired of being a slave
I found your channel a couple months ago and started binge watching all of your scenarios. Started implementing this strategy immediately. So far so good. It makes too much sense and I can’t believe I didn’t start this a decade ago.
I would love to share my story in 6 months or so. Once I hit my goal, I’ll have a story to tell and will get as many of my friends as i can in my scenario on board.
Cash flow is king.
If you have any sense whatsoever, you would NOT be implementing this stuff... The only thing this does, is cost you more money.
@@investmentanalyst779 I recommend you sign up for some additional college level math and finance courses and reignite that education. Additionally, you have no idea about my current financial position, debt instruments, investment portfolio, or income. So why make a baseless reply on a YT video?
@@investmentanalyst779 Took a look at your channel? Where are your educational videos? Or is this a burner account you use to lurk YT comments?
Tell me.
@@aeneaslime2968any updates?? Let us know 😊
You don't know how exciting it is to see an example of my income being discussed. So relatable. I now have hope🥰 just need to get a line of credit
That's what the problem is, no one will do a line of credit. Everyone runs my credit and if course I take a hit each time I inquire about it, so my credit scores keeps going down instead. I tried bank and I tried my credit union.
@@irismartinez5753regions bank will give you a secure line of credit to start you off. I
Thanks for that perspective ❤@@irismartinez5753
Secure credit card…. Put up the money first!!
Line of credit is nice but it can be done without it. Devise a plan that works for you. And Work It.
I used her advice to pay off most of my credit card debt with savings, then got a personal bank loan to pay off the rest. Now I'm paying the loan off with higher than minimum payments and still using the credit cards and paying them off each month. PLUS I've replenished my savings account. This is definitely a game changer for me. I feel so empowered over my finances.
Once again Christy you have blew debt out of the water!!! It brings me so much joy seeing how God is using you all over the world. Not everybody gets this opportunity. Just think how heavy your crown is going to be when you get the opportunity to lay it at the Master's feet. Man that excites me!! God Bless you and your family.
I'm addicted to your whiteboard. I've practiced this for years with my own debt elimination then through investments and business start up and I still love watching your videos
Amazing! You’re so right, it’s just math!! I am so glad I found you!
I totally get your methods and implementing them now. I just like to watch for the uplifting encouragement. Thank you!
Really glad I was able to find your channel by accident. Wasn't even looking for financial strategies but I have looked at many of your videos. Talked to my wife and we started this past week using the credit card method till we can get a PLOC. Thanks for all the information that you provide.
Came across the videos this past week. Been binge watching and I'm sold. I booked a meeting with Anna. At 70 I need to clean up and get out of this debt, Thank you for these videos..
I applied for LOC on Friday, I was declined. But this video showed me I can ask and do this with a small line of credit like 5k, not needing 15k. Thank you. At this time I am going to do your method with my discover card which has a balance of 5k, and a loc of 9300. It was 7k last week.
Don't do it.
good luck
Thank you for making a low income video! This is almost exactly our income and It’s really helpful and motivating to see this played out!
I am my 3rd month and my credit score is up about 19 points.
Thank you so much for your content, Van. I was a bit confused about how she would pay rent if all the money goes into the CC. I hope you will offer a live one day. That would be great! Have a lovely day!
Good Morning from Mississippi. I am excited to do velocity banking
Your skill level is and has been for a long time, simply amazing. Many of us have come to this channel, after being lead by the sw eet spirit of our TMH l, who provides wisdom, that he wants shared with those who seek help!
My health issues are not as bad as they were, but, I know and trust the Lord, who sent me your way again, thanks for all you tried to do for us!
May his blessings cover you & yours forever!
Don't fall into the trap of buying a car that is too expensive for you because you want security or newness. Find something at 33% of your yearly net income or less if you are not wealthy. There are perfectly working cars for $4000 to $12000. The good thing with a cheaper car is that it can be repaired or replaced for cheaper and you can free up tons of bad debt.
How can we find a line of credit with a low/average credit score?
Work to make money to pay off debts.
@@yolandayancy4654 lmao
You are a treasure! Thank you! I’m going to watch more of your videos and try to use your method. Wish me luck. 😁
I feel like you’re the rad aunt that everyone needs in their life. Bless you!
Praise the Lord! Christy, I've watched video after video now helping others to watch. God bless you!!!!
I am in the process of implementing this and i have to say that trying to wrap my head around how this works has taken some time but it makes so much sense now.
The time it takes to set everything up is nothing compared to the stress of financial debt.
Thank you a million times for thinking outside of the box and sharing your content and keeping it digestible. ❤
Hi suppose your income and your debt is the same with 0 $ and you are up to the limit with your CC how does velocity banking work in this case ? And what do you do with the cash flow ?
@winsomecohall2250 I am using a previously acquired PLOC that I hadn't been using with a limit of $5000. I used $4000 and paid down one of credit cards, and left space for emergencies. I then set up what payments I could on that credit card and paid cash for the rest of my bills (which I pull from the PLOC). All of my income and my partners portion of all shared bills get put onto the PLOC (which satisfies that payment) and since I have bills coming off of my credit card when I take payment from my PLOC to satisfy those bill payments it also satisfies those minimum payments. I have already paid down $1000 on my credit card with NO additional income. Also, my credit jumped 12 pts, basically overnight. This has been since the second week of January. So I'm not talking months here.
I am also self-employed and commission based, so my income is super sporadic, and I am in the slow season, and I was still able to accomplish that. Also, my PLOC has been paid to almost zero in that time as well. I would have paid more, but January, everything is due. LOL
This is definitely an important ministry. Let’s do this
Thank you for your video! If you get paid biweekly, and you are using a HELOC, do you make two payments a month to the HELOC if they allow it?
Great work I’ve been sharing your videos with people at work thanks it’s going to change a lot of lives. Merry Christmas thanks 🙏
Vann is showing you the process but you don't have to figure it every month. You deposit your paycheck and use the ploc or CC to live/ pay bills. The bank does the interest. You only need to assure you track your expenses and are not overspending.
This helps you to pay off debt faster and first instead waiting to see what is left over.
Thanks Vann !! You are wonderful! Thanks for all you do!!🙏❤️🤓
Thank you! I just want to say thank you……knowledge galore ❤
Lol hubby and I live on 1800 a month and our bills take all of our income we have nothing left for food or gas for appointments and our house taxes are behind but I make sure we get food every month and our electricity is always payed however I ended up getting four credit cards that are now maxed just so we could make it. Now that they are maxed I’m not sure what to do. We only owe 13000 more in our house qhich is a land contract not a traditional loan … and can’t afford your services. I’m ready to declare bankruptcy to avoid living in a box lol but we do t even have the money for that …
You are a true blessing to so many and no worries one day I’ll figure all of this out , can you dumb it down for me ? 😂
I'm low income with no money to spare. I have maxed out the credit cards and want to get myself out of debt. I could use your advice
Thank you so much for teaching this information!
This is so interesting, I live in south africa, I was wondering if this velocity concept would work in south africa
Doesn’t work if you can’t get a line of credit! If you can’t you only save the 1 payment!
What if your drawn with credit cards maxed out not able to get line of credit do to the low credit score? To pay off credit cards, pay back only one payment rather than 5 payments?
Real quick question; when do you sleep? 😊 Thank you for sharing these tips.
Super great content terrific job keep up the good work.
1) I can't get a PLOC from anyone because of my credit score of 640.
2) What if you can't attach the PLOC to your checking/savings account? Do you move the whole thing into your checking account, pay it down with your paycheck, and move the money back again?
How do we go about receiving the LOC?
Um that’s what I make…but my car is old …my taxes & mortgage keep going up..3x in less than 2yrs…I need help. Should I open a Heloc
This maybe a dumb question but when you get the line of credit do you deposit into your account and like pay yourself? Or is the line of credit like a checking account?
I've been watching a LOT of your videos for the last 3 days and signed up for your initial chat, I just wish I didn't have to wait until Feburary to have a conversation with you, so many questions! For instance, I don't currently have a LOC of HELOC, but if I get one, how much should I try to get? What are the determining factors in deciding how much to get? I want to start this process now! 🤣
When looking into getting a LOC, does "PrimeLine" mean it's not a traditional LOC or is that maybe just the FCU's name for it? I don't want to get into something that's disguised to look like a LOC that really isn't. Are their institutions that you recommend getting an LOC from specifically? Would a HELOC be better than a PLOC? So many questions...
Amazing information than you so much Vn
I'm confused and lost. If her line of credit balance was 2587 and she put 2500 in, how did it go down instead of going up? Shouldn't the balance go down if she took from the line of credit?
$2587 is the balance. $2500 is what she paid off with her own money from her job.
Regardless, paying off debt with an 18% line of credit is idiotic.
@@investmentanalyst779 thx for the clarification...
@@investmentanalyst779 Why are you a hater? This makes sense and gets people out of debt instead of filing for bankruptcy. If you are rich thats great. go troll somewhere else.
@@investmentanalyst779
Explain it Hewy
The reason your able to make the higher interest rate work in you favor is because your essentially paralyzing money.
You can do these formulas and make the bank even better by paying ALL your bills LATE. Then call and have late fees removed.
This will up your playing money to knock interested down even faster!
Velocity banking is Like a HELOC??
help income is 2,400 mortgage is 2,800 credit cards are as follows 186, one is 155 one 145 one is 357 one is 89 one is 132 what am i to do
Get another job. You need more income.
Christy , what about savings ? Should we ever use that to pay off debt or just keep it and use the velocity banking .
I am unfamiliar with PLOCs how do you pay expenses out of them? Thank you
A line of credit is a checking account with money that isn't yours. You can withdraw it anytime. When you do you pay interest on it.
As a financial professional, using a line of credit at 18% to pay off other debts is idiotic. This lady did all this only to pay more interest than just paying off the debt directly or just using a debt consolidation loan.
This is the best information on the internet!
Are all PLOC loans good for using this system? How do you find a loan with the right kind of interest to work the system?
Question, why is all her income going to the loan? Shouldn’t we be subtracting the cash expenses first then whatever is left is what we transfers to the line of credit? I’m lost🤔
A line of credit is used as your checking account (aka debit card). That line is what pays all bills and expenses. This means process works NOT by running down debt with the difference but making huge payments into that line of credit, getting substantially smaller interest rate than where you trasfered from divided by daily interest rate accumulation. That way you reduce that line of credit to low, put more stuff on it (aka bills and purchases), keep dropping down balance. If you watch like 20 videos on this channel it will click. She explains this process on every single video. It does not click at first... you have to have that "aha" moment.
How is the line of credit used, if you can't pay a car loan, or mortgage with a credit card? just trying to understand
Some PLOC do not offer credit cards for you to make payments
Good morning!!
What happens to a Line of Credit when it’s at a zero balance?
Does it have a anual fee that they charge?
Once one has used it to get out of debt , will I be obligated to keep living off of it?
Thanks
What I love about America is how they create catchy buzz words for everything.
What I don't like about Australia is how they have to copy it. " Because it's best ,proven practice "
Hi Christy, I love your videos. Is your course only for those who have debt?
What your talking about I did that 35 yrs ago .I'd get loans to buy stocks used line credit pay back did that 4 times .that's how I made myself multi millionaire..people it's just simple math mathematics
Teach me how? I'm 63.
I smell bull... prove me otherwise.
The key to becoming a millionaire is to start saving regularly when you're young, stay disciplined, and make and keep a long-term financial plan
. It's also important to understand the factors that influence financial growth, including the rate of return, the amount invested each month, and the length of the investment horizon
. By starting early and consistently investing, individuals can take advantage of compound interest, which can significantly grow their wealth over time
Great. That has absolutely nothing to do with what Christy is teaching.
Can you do a video for someone that gets paid weekly?
In school I was slow in math but received awards for my art!
Exactly what is meant by putting my income “into the HELOCK” ?
Can my electronically deposited SS deposit be electronically deposited into a HELOC ?
Hello I have a question I have a horrible 2nd mortgage at 9.5 interest rate. My monthly payment is 313.00 and I have student loans payment at 389.00. Do you think I should wipe out the second mortgage when I get my PLOC or Heloc?
Agreed. If you don’t like 9.5%, why would you want to start paying 18% instead?
There are only 2 steps you need to get out of debt more quickly:
1) pay more than you’re required
2) lower the interest rate
So first, call your lenders to see if there are options to lower your rate. (0% balance transfers, refi programs, debt forgiveness programs, or sometimes just calling and asking can lower the rate)
Then determine how much extra income you have each month to pay:
Income - expenses - required debt payments = extra cash flow
Pay the excess to your highest rate debt every month until it’s gone (usually Credit Cards). When that is gone, take the new excess and pay the next highest rate debt. And repeat.
If you run into emergency expenses you can always put that back on the CC.
Do this and you’ll get out of debt faster than if you switch to a LOC with higher interest costs. You don’t need a magic strategy.
I need help. I’m living on much less and can’t see the possibility
Thank you
How can I apply for line of crrdit??
Rent/mortgage can't be paid by credit.
Trying to connect the dots.
I hope I win your giveaway so I can give it back to you to do a consult with me (heavy sigh) can't wait till Sunday.
I've got a mess 😮
Love watching you and learning but so overwhelmed on where to even start 😢
@@SchnabelMcSchnabel you have a right to your opinion. I find value in the technique. Right now I'm running in circles so having an option to get off this hamster wheel is not a waste of my time.
Thank you tho for your insight.
I do believe God gives you what you need when you need it. So I don't feel you're qualified to state that isn't true. Thank you anyway. Have a blessed weekend.
I have SMSF property, there's no offset account, how to pay off the loan faster
Where do you find 0% interest rates on CCs?
You need to design a template for your viewers to fill in the blanks and keep going
Hi. Thank you. What can happen if I put all 😢my income to my credit cards? Is it good to do it? What can happen if i still use the same credit card to pay some bills?
Hi Christy, my name is Derick from South Africa. Please advise if this method would also be applicable in SA. LOC is usually referred to as revolving credit according to our banks. And current interest rate is 11,25% for mortgages and my credit card interest is 21,25%. I have not applied for a revolving credit and my credit score is good at 702
How would I calculate my own average interest on the cc I would use for velocity banking? Is there a website I could plug it in to get an average?
My credit cards cant be paid by another credit card . how do i move them?
Open a personal line of credit and transfer to ur debit
You can get a balance transfer card.
I am not sure how to do the math to find out the interest.
The amount owed x interest divided by 12 months boom that’s it.
245000x8.5% =20825 divide by 12 months is 1735 for a reference
If i pay my entire monthly income to that one credit card how am i going to pay everything else that one month? I'm gonna have to add late fees to the list.
She put the whole income of $2500 on the LOC. Then the debt payments are paid from the LOC.
When do you pay/deposit the large payment each month?
How do you figure out the monthly interest? Is there a formula?
Interest rate X avg daily balance divided by 12 months
@@VanntasticFinances by the way you’re awesome. Thank you for teaching us ♥️
How am I able to send you mine for you to show how to organize it? We are so close to having a negative cash flow. 🙏 😅
its easy that way but what about unexpenives cost that comes up every month?
I just cant see paying interest 2 times
How do you account for the minimum minthly payments on the credit cards if your paying one large sum a month on one credit card balance? If you dont make minimum monthly payment it will be reported on you credit.
Hey, you would put aside the funds for the expenses that are not going to be paid with the CC. Once you get ahead using the main CC you will then start transferring the balances over of your other CC to pay it down. Hope this makes sense.
Also, this example is using a ploc, which is like a checking account. Just use the line of credit to pay the CC
Do we close the cards once they're paid off?
@SuperKNesbitt No…keep lines open for emergencies. Also keeps your credit score strong.
What about those that do NOT have a PLOC?
I am doing velocity without a PLOC or HELOC as I am only working part time, I use a credit card for any chargeable expenses, and leave any cash-type payments in my checking. Its working very well!
@@astikennelsame. Working out great for me as well
@@astikennelI’m having this problem too. My mortgage won’t allow from credit card and my wireless plan says I’ll loose a 40$ credit. How do you do it?
How can you do this if you can't get loc..
I have a line of credit of 300.00..
So how would I start my journey
@Jesus-kt5dc I file bankruptcy in 2018...my credit just never goes up.
Right I have cc with 1000 on it..I try to pay it it n use that.
Most of debt can be pay off easily, once I keep up with plan I started..it work slow n it easily to get side track..
Why pay interest in 2 places?
How does she pay her credit debt payments with her credit card?
It’s a line of credit not a credit card. I have one thru my credit Union.
Anyone from Canada doing velocity banking, Any tips on where to start ??
Sure, it's no different. Just get a line of credit or a card and get started.
I'm from Canada and low income. Someone mentioned to look at her website
Your website link to your youtube channel is not functional. Typo in URL. Love your stuff!
My problem?? Credit score bad. Bank will not give me a line of credit
Get you score up to 685
What time is the drawing for did I miss it?
It was at 9 est
Hi Christy-Vann the Christi-an, Love your videos and your Spirit, Hey I've signed up to your giveaway for this weekend but my Facebook account crashed after my cellphone got stolen and I can't recover the fb acct. 'till I get a new phone. Thank the Lord I have a Chromebook to access Y.Tube! Can I still participate in the giveaway on Y.T? I still have my email but no phone 'till I can afford to replace it. Merry Christmas to y'all from us all, (6 kids, 14 g kids and 22 g g kids), Love Ya!
Awesome video. 😊
It seems like you need to explain in every video for new viewers, that a line of credit is not a credit card.
it is credit card,ploc or heloc,never loan
Doesn’t her LOC payment per month go up
Your getting rid of those small debts but monthly LOC goes up?
Please clarify
Thank you
Doesn’t completely paying off a credit card hurt your score and result in a reduction of available credit for you?
In short no. Cancelling your credit card hurts your score. However, you’ll need to have some utilization to report to build credit. You’ll also need to use your card every now and then or the bank can close “inactive” accounts.
I just paid off one my AMEX cards last month. Received notification today that my credit limit increased by by 10%. This card already has a very high limit, but they want that interest money!
No. When you pay a credit card off your score actually goes up b/c you have less debt/income ratio. Just don't close the account. THAT can affect your score.
It's confusing
❤
Do a video where they’re not going to use a line of credit to get out of credit card debt and show actually how that works with interest because I watched one video of yours or you didn’t add the interest. You just kept mining and mining on the balances but you kept forgetting to add the interest back in to see what it really was like, this doesn’t work unless you have a line of credit, so that is not everybody’s answer it’s not gonna happen
probably in this particulate video she used zero interest card - credit card is a line of credit along with personal line of credit or heloc
How about a LOC of only 400.00??
At 30%
Debt of approximately 20k??
I'm favoured financially. $40,000 weekly profit regardless of how bad it gets on the economy.
The financial market is highly profitable with an expert broker just like Fergus waylen. I got recommended to him and since then my financial life has been a success.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
I also follow the guidelines of Mr Fergus, invested $88,000 in Bitcoin, making 15%- 20% every week. unlike I can say for my IRA which has just been trudging along
Wow! I'm also excited. Fergus waylen strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started.
He often interacts on facebook , using the user name ..
I don't know why we have to bring the Lord in the such.
Common sense things as banking and financing.
You need to know that atheist and irreligious and non secular people watch channels such as this is well.
Let's continue to embrace the whole country as we ALL need to learn and keep religion out of it.
She didn't exclude you, me or anyone at all. Heck devil worshipers, sinners, undecided all are included I'm sure. She just identifies as a god fearimg women. Doesn't hurt the content none. Everyone now a days expells to the world what they identify as now a days.
Y'all need to do your research before you take financial advice from someone who is not legally licensed to be giving finical advice. Lady you're going to hurt a lot of peoples lives pushing this nonsense.
Can you be more specific? How would this hurt me?
Troll. It works, but it takes people to have discipline. 95% don't have that.