I paid 67K in 8 months! Debt Free BABY

@VanntasticFinances

Ай бұрын

@Wetravelworldwide AWESOME!!👏🏼

@lesliearellano958

Ай бұрын

Did you subtract mortgage payment before depositing income into line of credit?

@Wetravelworldwide

Ай бұрын

@@lesliearellano958 its part of our monthly expenses that is about $4500

I know this method works because I did it several years ago. My bank would only allow 6 checks per month, so I put all my income in throughout the month and at the end of the month I drew 1 check for all my expenses. That was deposited into my checking account to pay my bills during that month. Rinse and repeat. I was out of debt in 18 months. I love watching your breakdowns.

@juanquesada305

2 ай бұрын

Yep it works!!

Christy has a true heart-of-a-teacher. Imagine how smart our kids would be if someone like this taught them actual subjects that are necessary to know in order to compete in this world?

@VanntasticFinances

2 ай бұрын

Wow! Thank you @JCBinder7

It worked for me last year! I was out of debt in 5 months. It also makes you cognizant of not charging anything new because your mindset changes. Thank you for posting the videos!

I think people hear you but I think getting an actual line of credit is what keeps people from getting this done.

Christy, I never get tired of watching these scenarios. It is so exciting and encouraging. It keeps me fired up to do the same and tell others.

I love watching you work scenarios! These are my favorite videos, I can watch them all day! Thank you for sharing this knowledge! You’re the best, Christy! ❤🙌🏽

@VanntasticFinances

2 ай бұрын

Glad you like them!

I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year.. Investment should always be on any creative man's heart for success in life ,

@raphfelimax2713

2 ай бұрын

You're right, with my current crpyto portfolio made from my investments with my personal financial advisor Fergus Waylen, I totally agree with you

@domenez

2 ай бұрын

Yes I'm familiar with him. Fergus Waylen demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit.

@georgebasonathan4784

2 ай бұрын

This Man has really change the life of many people from different countries and am a testimony of his trading platform .

@wells7147

2 ай бұрын

Investing has proven to be an incredibly beneficial decision. My cryptocurrency profits continue to play a substantial role in growing my overall wealth, reducing my reliance on my salary

@Richardson238

2 ай бұрын

I have been on the wrong side for far long and I'm willing to make consultations to improve my situation. What is the most reliable medium to reach him please?

I love that shirt, and I love your enthusiasm for what you do!

I am so happy I found your station! Thank you so much!

I so appreciate you doing the scenarios - they really reinforce the process!

You’re doing a good thing for us, Christy! Thank you so much!!

Love it, love it, love it!!

This is AWESOME VANN!! Love your content and wisdom. Enjoy your day girl!!🙏❤🤓

A continued thank you for these videos and all your help.

Great video! Thank you for making these educational videos

Thank you for braking it down. I’m working on becoming debt free. How would I do this for a business? When it’s $130k in debt and can’t get a LOC to just have one interest rate for all credit cards

I kind of knew about this process but I didn't have a name for it nor did I completely understand how it worked. This is really mind-blowing!

Thank you Christy! I am sharing this like crazy

@VanntasticFinances

2 ай бұрын

Thanks for sharing!!

There seems to be two very different points of view about Velocity Banking. The mainstream financial community dismisses it as being dumb and they say the math doesn't work. But when they talk about Velocity Banking they don't demonstrate that they really understand it. Then you have people on social media saying that it's a great tool to save interest and pay off debt early. However, I haven't seen a lot of these two sides talking to each other and doing a deep dive on the numbers. Really talking about it intelligently and having a vigorous debate. I think those kind of discussions would be valuable to help people decide if it makes sense for them or not.

Hi I have been watching your videos and I do have a line of credit. I have debt on almost all my credit cards I will be using this method. Thank you.

Wow, I’m blown away!

Hello, I wanted to know if you would make a video on how and where to go get a line of credit? What is the criteria a bank looks at and what can we do to get one. That would be helpful. Thank you

This only works IF YOU CAN GET A LINE OF CREDIT….

@revivecleaning399

2 ай бұрын

You can start with a secured credit card. I'm helping a friend start there and so far it's working.

Hey Christy I understand you are doing a great job helping people but most of the time your clients have nice incomes so it's much easier for them to be doing it What about people on a pension / social security what can they do with their debts who are mostly seniors Thank you

@koreypaul6698

2 ай бұрын

What's their monthly income? She did a video on an elderly man who had $4,746 in monthly income but a ton of debt. He had a credit card with lower interest that he had as a tool to get rid of his high debt balances quickly. kzread.info/dash/bejne/jIynlqOehNrggqw.htmlsi=0I5iCvZ3U_ko0sKR

@gracebenie74

2 ай бұрын

He speak about a low incombe and à low cash-flow. What's thé vidéo.

@VanntasticFinances

2 ай бұрын

@answernasir226 go here kzread.info/dash/bejne/gayBo5l6l8S-lco.htmlsi=TT1LW3CmaKMfiiH4

I really am glad to know this now. Better late than never. Ty so much.

Cool Vans Tshirt, I see the connection

@violaauvil2374

2 ай бұрын

I don’t want that T-shirt it’s not for sale in store

why are there videos claiming that velocity banking is bogus and doesn't work. can you take address the confusion? It's confusing from the outside looking in

I will be debt free at the end of month of April. Thank you❤

@VanntasticFinances

2 ай бұрын

@NANALIFE1960 That’s awesome!!

@jakelong7757

Ай бұрын

Same!

wow wow wow!

When should I transfer my income/payments to my credit cards? Before the closing date? On the due date? Does it matter?

Please give the name of the lending institution that gave this person a line of credit with this horrible debt to income ratio.

If your mortgage is 200 K and your HELOC is less, then you still need to pay the mortgage each month. So this only works if the HELOC is greater than your mortgage. Is this correct? , please explain.

Mrs. Van I have a question, that $11,900 loan that was included in the 4th month, we’re the payments being met? Or was that in the expenses that was being payed down?

I thought upgrade was a personal line of credit?

I have a very similar situation to the lady in this example. Did she have a decent credit score in order to obtain that line of credit?

Hello from Dallas!

@getupeta

2 ай бұрын

Would a debt relief program be a faster way to pay off debt?

@VanntasticFinances

2 ай бұрын

No

How do you calculate the interest rate your being charged? Could you do this with a heloc and a first mortgage

Question. When you satisfy your payment when putting income into line of credit doesn’t this just subtract the monthly amount due from income the same as if you were making the monthly payment?

How do I get a line of credit?? I have a credit card that covers my checking account for overdraft s.

We applied today to change our existing home equity loan second mortgage into a HELOC. If they approve us for 80%, we will be good to go. If they only approve 70%, we will be upside down. Wish us luck, please!

@alwayswinning11

2 ай бұрын

🤞

@purpleunicorn9714

Ай бұрын

We were approved. We did get the 80%. We are on our way with velocity banking!

What is an upgrade loan ??

Does this apply to The Netherlands?

What do you do if you cant get a line of credit?

I just have one question that I hope someone can answer? PLEASE Are you using the LOC to pay the mortgage every month and paying interest twice? Or do you just put your cash flow to the mortgage? Thank you !!!

So when you are approved for the line of credit, you pay off everything with it?? And THEN pay off the LOC? Thanks for all the videos!!

How do you even get a line od credit? I've tired no luck in 2yr of trying

I’ve been looking for a PLOC but no major bank in Florida offers them. Can I do this with an online bank. Where can I find one ?

@Jesus-kt5dc

2 ай бұрын

Look at credit unions, they are easier to work with and have the products we the consumer need.

I have my 4 credit cards closed recently, I have 520 credit score. I need your help Miss Christy. Hope you can help me🙏🙏🙏

“Throw all of this into one line”. How do you do that?

What do you do about utilities, mortgage, and car loans? Are those counted in this?

@theresafutrell8470

2 ай бұрын

They were the expenses…didn’t say exactly which ones but you must assume they are included in expenses😊

@robertboyer5498

2 ай бұрын

@@theresafutrell8470 okay. I wasn’t sure how to use a LOC to pay that. Do you get a routing number like a checking account? I’ve never used one.

@mariannaryan456

2 ай бұрын

Those numbers are calculated into the monthly expenses number

@robertboyer5498

2 ай бұрын

@@mariannaryan456 but I can keep some stuff out if I want, right? Like if a car note is too big, I can just pay that separately?

How do you obtain a line of credit?

@theresafutrell8470

2 ай бұрын

Ask around at different banks

@mariaisabelescamilla2313

2 ай бұрын

credit unions. Chase no longer offers plocs

What is an "upgrade loan"? TIA

@theresafutrell8470

2 ай бұрын

A BAD loan. Don’t get one

Was that line of credit a HELOc? Or a personal LOC?. What financial institutions grant you a "personal LOC"??, the ones I have asked (mostly banks) offer a HELOC or a traditional loan, which I do not think is the case for this example...

@magus7935

2 ай бұрын

Get a heloc. The personal line of credit has higher interest rate

@theresafutrell8470

2 ай бұрын

A higher APR doesn’t matter if one can pay it off in a short time span. Her example was a line of credit. Banks offer them..ask around

My Heloc says the maximum number of advances per yr is 4 . How do I then take out my monthly expenses?

@theresafutrell8470

2 ай бұрын

Take out the advance once to pay off different products you owe. Work the process to zero balance and then take another advance out. You must organize your finances first. See what needs to be paid off first.

@MJK-ve5kl

2 ай бұрын

But how do I do monthly living expenses if I put my income into Heloc, but can only take money out 4x in a year??

@mariaisabelescamilla2313

2 ай бұрын

Sounds like living expenses for 3 months at a time. Maybe an extra $1000

I got a line of credit through my credit union @ 8% interest. However, the application was as a loan. I'm still trying to figure how they applied the interest. Help! I guess I dont understand how your interest was applied in your example here. That seems pretty low for $11k.

But she always fails to show that you have to continue paying off the LOC, am I wrong? Like i might deposit my paycheck into it and its at $0 but now i still have my 3k in expenses and no cash so it comes back out of the loc right? So even tho the loc hits 0 you arent out of debt cuz you have to keep using it until eventually you dont have to put your whole check in it and can have cash. Someone correct me if im wrong

@revivecleaning399

2 ай бұрын

Eventually you will get to a point where you can pay it off and leave your expenses out.

Thinking about buying a house. How can I use velocity before I buy the house to help me

@VanntasticFinances

2 ай бұрын

You can purchase a home with a FIRST LIEN HELOC

@itsbecauseofjesus

2 ай бұрын

@@VanntasticFinances do you have any videos on what a First Lien HELOC is? And how to get one before I purchase a home?

How do you get a line of credit?

@koreypaul6698

2 ай бұрын

Apply at your bank or credit union.

Question: my credit union doesn't do PLOC anymore just personal loans or the credit cards.. can I use a cc for this 🥺😒😒😒

@saxxa88

2 ай бұрын

Yes, I do. She has videos on this.

@moraimamora

2 ай бұрын

@@saxxa88 thank you 😊 she also responded 😊 I fell relieved now 😁 to go and ask for one

If I have a credit card can I just do the same thing with it? To pay it off

@Jesus-kt5dc

2 ай бұрын

Yes, with some restrictions. You can't put entire income in the card, only credit expenses and cash flow. Have a great day.

Upgrade loan is not good Iam Know that ..

@victorboone2053

2 ай бұрын

Yup and I chose not to use them! They wanted double! Nope!

I bought a new car in 2022 for $23,500. (Chevy Spark) I'm paying $417 a month & it won't be paid off until 2029. Should I look at other places to refinance this loan? I refinanced it once through my credit union but that only dropped my monthly payment about $15.

How much of your HELOC should you use on your debt? EXAMPLE you have 30k available, and 50k in debt. How much of my HELOC should I use? All?

@cjbegansky2255

2 ай бұрын

You want to have a total of only 30 percent utilization on all credit.

@theresafutrell8470

2 ай бұрын

Use 67% of that $30k

@mariannaryan456

2 ай бұрын

You don't want to use all your Heloc line. You want to hold some for emergencies. I would use $15-18k to start.

@donavonlewis1039

2 ай бұрын

@@theresafutrell8470 Why 67% ?

@Jesus-kt5dc

2 ай бұрын

In the velocity banking community we recommend no more than 66% of your LOC. So 66% of 30K is 20K. You want some room in case of emergency. Hope this helps, have a great day.

Can you just put all credit card balances into one credit card that has zero interest for 18 to 21 months and pay it off that way?

@r.h.30

2 ай бұрын

Yes, that is what I am doing now with my Capital one credit card. Zero percent APR till 2025, but there is a 3% transfer charge.

@debrawarner6165

2 ай бұрын

Yes!

@debrawarner6165

2 ай бұрын

Make sure you set up auto pay

@debrawarner6165

2 ай бұрын

So u don't miss payment

@sh839c

2 ай бұрын

That is usually a trap

I have to wait two weeks for my p-loc one week left. maybe Friday?

@mariaisabelescamilla2313

2 ай бұрын

Weird , I had mine in 1.5 days at a credit union. All they verified was past addresses.

@macoediv

2 ай бұрын

@mariaisabelescamilla2313 still do not have it. I called. and they said 4/15 They even charged my fee

I'm so excited I got my heloc. 115000. 10%. They do an auto draft for payment. Now I let them take out payment and I also put all my paychecks in right. And I have 109000 in bills do i do it all or half first then the rest later

@theresafutrell8470

2 ай бұрын

You make your own payment. Please watch videos on how to get started with VB…

I'm having a tough time understanding this concept and it seems so simple. I assume it will work in Canada?

@Jesus-kt5dc

2 ай бұрын

You're using a LOC as like a checking account. Money in, money out. This pushes down the Average Daily Balance on your LOC, which decreases the amount of interest you owe every month. Hope this helps, have a great day.

@btrain98

2 ай бұрын

@@Jesus-kt5dc that helps a bit. Thanks

@Jesus-kt5dc

2 ай бұрын

@btrain98 Old System: Paycheck -> Checking Account (earning no interest) -> Expenses Velocity Banking: Paycheck -> Checking Account -> LOC (park money here) (lowering your ADB) (Paying less interest) -> Expenses See if this helps, have a great day.

But how do you get a line of credit if your credit score is mid 600s due to high credit balances i make my payments every month without fail but im spinning my wheels

@Jesus-kt5dc

2 ай бұрын

Your credit cards are a LOC. Start putting your cash flow and credit expenses on your credit card. Have a great day.

My CU just denied my LOC app since my DTI is too high 😢

@Jesus-kt5dc

2 ай бұрын

Keep paying down your debt and reapply in 3-6 months. Have a great day.

❤

Where can my friend apply for a LOC?

@mariaisabelescamilla2313

2 ай бұрын

Credit unions

This one she didn’t have a mortgage or rent?

What banks / credit unions have PLOCs with no fees that can be used like checking accounts?

So this only works if you have a line of credit?

@Jesus-kt5dc

2 ай бұрын

Debt, LOC and cash flow.

I don't do well in understanding when something has been written down in numbers. I'm more of a visual learner. Do you think you could do this with a more visual style? I'm seriously in need of this kind of help but I need to know what I'm doing before I screw myself. I just can't understand math as easily as you and your followers do (I'm just a math-dumb artist).

I guess subscriptions would be seen as a recurring expense even after the credit card is paid off?

@Jesus-kt5dc

Ай бұрын

Correct

HELP!

Are you from NC? I feel like you used to be my teacher or something… still teaching me😅

@VanntasticFinances

Ай бұрын

@mattboone251 😂 I could never be a teacher!

i wanna try this but im confused. doesnt this method mean youre just pouring your cash flow into your debt (every time you put your whole income into the LOC), and in turn you’ll have no cash flow to put into your savings account, because youre putting every dollar you make toward your LOC consolidated debt?

@Jesus-kt5dc

2 ай бұрын

Complete opposite, you'll have greater cash flow because your cash flow is earning/saving you interest. It's pushing down the average daily balance. Why have savings when you can put your savings into the LOC saving you interest. Also if you need money or an emergency pops up just pull the money from the LOC that has been saving you interest the whole time it was in the LOC. Not to mention a PLOC and HELOC allow the flexibility of your entire income saving you interest parked on your LOC. Hope this helps, have a great day.

I don't understand. 😢

DO NOT listen to this woman. She will make you poorer. Your BS meter should be going off like crazy if you think getting a loan at a higher rate of interest to pay off a loan at a lower rate of interest will result in a net positive for you.

I love your energy. I'm on my Vanntastic way❤