Love Vantastic. However nobody's life is the same every month. Expenses are different. So I like that you guys are aware that every month, even day is different.

@selfdirectedDONNELL

Ай бұрын

Appreciate the feedback.

@Jesus-kt5dc

Ай бұрын

That's one of the functions of the LOC. It's a safety net, that's why in the VB it's said no more than 12 month chunks or 2/3 of the LOC. This helps to pay down the debt and observe the ups and downs of day to day life. Worst case scenario (job loss) you stop VB and live off the line. Once getting on one's feet (employed), we know we attack the LOC with our income. Have a great day.

@selfdirectedDONNELL

Ай бұрын

You got it!

Intro ...super professional...sooo good! Keep it coming!

@selfdirectedDONNELL

2 ай бұрын

Appreciate it!

Talking about spouses..... My wife said, " can you at least run it by my dad." He is a financial planner...and he said well why dont you give it a try. I then using just my income worked my debt down over 6000 in about half a year. Now my wife is going to use her income to help pay it down even faster.

@selfdirectedDONNELL

Ай бұрын

That’s perfect, glad dad approved.

Glad that I was able to watch a little bit live! Have a great week everyone! 🛶

If you put all your income ($1,200)to your debt tool(CC) all at once aren’t you talking a risk that your CC credit limit can be reduced? Thanks

@MikeAffholder

2 ай бұрын

Yes you do take risk that your credit limit could be decreased. By making smaller payments say 4 300 dollar payments through out the month could be a way to avoid that.

@selfdirectedDONNELL

2 ай бұрын

In most cases none of us are paid once per month so it wouldn’t be all of your income at once, it would be spread out. Your concern is still valid and I would say that’s where picking the proper debt tool matters.

Thanks for showing this is been helping me a lot

@selfdirectedDONNELL

Ай бұрын

Appreciate the feedback and we are happy to assist.

Where is the worksheet

@selfdirectedDONNELL

Ай бұрын

Selfdirected.info/live Click on the workbook and it will take you to it

@lukasr977

Ай бұрын

​@selfdirectedDONNELL where can I find the workbook and the worksheet. Good stuff sir!!!

Hello love this the content and what are you doing to help people I would like to book a call 🙌🏾👍🏽

@selfdirectedDONNELL

2 ай бұрын

That’s easy, here you go: selfdirected.info/calendar

Donnell and Angelique, you both are absolutely amazing. I definitely appreciate the in depth information and the time you take explaining each step. I’ve been doing this strategy for only 2 months and already knocked out almost 5k of CC. What a great feeling it is just to actually see the balance decrease. The hard part is getting used to seeing the balance go back up from monthly expenses before next income transfer. Prior to starting VB, I was making monthly payments and omg, the balance wouldn’t budge. This is only the beginning and I wish I’ve known about this 20 years ago. Keep up the great work y’all!!!! BTW I’m still working on Amber, she’s a non believer. lol.

@selfdirectedDONNELL

Ай бұрын

She will come around as she sees that debt go away. Awesome update, congratulations!!!

“Meaning” x 24 😂 great videos

@selfdirectedDONNELL

Ай бұрын

Appreciate the feedback, what are your favorites?

When is the next live ???

@selfdirectedDONNELL

Ай бұрын

Tonight 9pm EST (Sunday)

I strongly recommend staying far away from paid software to do velocity banking.

@selfdirectedDONNELL

2 ай бұрын

Never been a fan of spending money to save money.

@DrFinancialLiteracy

Ай бұрын

Sometimes they help!

@selfdirectedDONNELL

Ай бұрын

True very true, there are also some predatory products out there.

Thanks for sharing this valuable information. Excellent content. It really helps me understand how to manage debt using velocity banking. Thanks mucho..,awesome..🎉

@selfdirectedDONNELL

2 ай бұрын

Are you currently doing VB? If so, what’s the goal?

I have downloaded the sheets and have been trying to fill it out the best I can. I may need help though.

@selfdirectedDONNELL

23 күн бұрын

This video might help you identify mistakes when filling out the sheet. This highlights some of the mistakes when filling out the sheet. kzread.infoyIFfsPkQZeU?si=k3tQKOYAmlLF9LFY

Great show. What time is the live stream on Wednesday? What are some of the ways to use a dollar more than once?

@Jesus-kt5dc

2 ай бұрын

Running expenses through your LOC/CC. If you have a 200 credit card bill and a 200 electric bill the everyday person see's it as 200 + 200 400. I owe 400 dollars. Velocity Bankers know by using 1 dollar twice you only owe 200. You pay 200 into the credit card (satisfies payment) you then use the credit card to pay 200 electric bill. Hope this helps.

@selfdirectedDONNELL

2 ай бұрын

We go live at 6pm PST (9pm EST) on Wednesday. Don’t forget to subscribe and hit the notification bell so you are notified.

@kenth.4741

Ай бұрын

@@Jesus-kt5dc Thanks for the clarification. That is very interesting. I have been the everyday person for too long. Lol

@selfdirectedDONNELL

Ай бұрын

No better time than now to change that. Happy to help.

I have only credit cards that I can use as a debt tool. How can I put all of my paycheck on the credit card I choose to use as the debt tool when I have other credit cards to make payments on? I can't pay a credit card payment with another credit card. I would need to pay those other cards from my checking account account.

@selfdirectedDONNELL

23 күн бұрын

@@runwalkerrranch9336 sometimes using a credit card as your debt tool isn’t the best option. Sometimes VB isn’t the best option. Maybe debt snowball would be better for you? Hard to tell w the info provided. Feel free to get on a call and we can discuss. The key is where does your cashflow go today? Be intentional with your cashflow to address your debt.

#boat

I’m in negative cash flow husband not working- I have a lot of credit cards.. Do I borrow from 401k or try and get a HELOC?

@selfdirectedDONNELL

Ай бұрын

Everyone’s situation is different. Depending on the circumstances all, some or none of those options may make sense. This might help, kzread.infoyIFfsPkQZeU?si=h9ZI5rDUJ6_M4V58

Do you have to have a positive cashflow

@DrFinancialLiteracy

Ай бұрын

No I started with a $2,500 negative flow very easy process. Amen and stay blessed!

@selfdirectedDONNELL

Ай бұрын

Tonight we are going to discuss how to go about this process based off negative Cashflow.

@DrFinancialLiteracy

Ай бұрын

​@@selfdirectedDONNELLAwesome!

@selfdirectedDONNELL

Ай бұрын

Appreciate you!

@selfdirectedDONNELL

Ай бұрын

Appreciate you!

Let us stop pretending that replacing a 5.25% loan with a 11.85% loan is somehow a good idea. It is simply not cost effective. Even in the example given, the interest cost of that operation is $390 AND all available cash has to be thrown at the debt (plus the $6500 will NOT be paid in 3 months because there is only about $1800 available per month to pay it down, that is $1950 minus those $150 of interest which need to be paid the first month, then a bit more the next etc..). Throwing all available cash directly at the car loan INSTEAD of using an expensive LOC would result in interest costs of about $100 only.... So that is about $300 wasted for nothing in ~3 months just because one insists on using an LOC. Let us stop pretending that the car debt was paid quicker thanks to a LOC. It was paid quicker simply because all available cash was thrown at it. No LOC required for that. Let us also stop pretending that there is somehow "cashflow" when every cent is thrown a the debt. In that situation cashflow = 0 Put simply replacing a low interest loan with a higher interest loan NEVER makes any financial sense.

@selfdirectedDONNELL

3 күн бұрын

You're missing some variables. Math doesn't lie when you include all the variables. I want to agree with you, but the fact that we paid off our home in 4 years vs 30 is proof that your missing variables matter greatly.

@thomasxxxxxx2345

2 күн бұрын

@@selfdirectedDONNELL You are right math does not lie, and an 11.85% loan will cost more than a 5.25%. Thus it is NEVER financially beneficial to replace a 5.25% loan by an 11.85% loan The fact that you paid your home in 4 years does not change that. It is proof of nothing other that you somehow came into enough money (does not really matter how) to make enough extra payments to pay down the loan. For example I paid off a home in less than 2 years by the simple solution of selling it at a higher price. Nothing to do with interest rates

Good Educational Content salute 🫡

@selfdirectedDONNELL

2 ай бұрын

Appreciate the feedback

#boat

@selfdirectedDONNELL

Ай бұрын

Tune in tonight and let’s get you one. 6pm PST