An Actual Brainstorming Call to Determine What Needs to Happen to Begin Debt Elimination.

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Комментарии : 328

@fearisasnare8468 Год назад

We have all been so conditioned to manage our finances with an outdated method that anything different is hard to grasp, but once you shift your mindset to a better method it’s an eye opener.

@Diane-xt2cz Год назад

So true! I'm learning👍

@esterwacasey4318 7 месяцев назад

Well said! It’s so mind blowing to see how my debts can just be eliminated without having to get another job or take 20 years to do it

@shelisegr8love Год назад

Omg!!!! Once I became debt free(besides the house) I felt the SAME boredom!!!! I got back in debt!!!! I am now debt free AGAIN!!!! Now learning how to use that extra brain energy 😅😅😅

@ginafumi3010 Год назад

Hey Christie! I know you are a believer! Just pray before you go on your platforms that your viewers receive clarity. Its the enemy that doesn’t want us to understand. But its ok bc we are gonna binge watch your videos while we are awake and sleeping. We will renew our minds. We have been manipulated and lied to about our finances as well as everything else since we were born! You are an excellent teacher and the people that are hungry for this teaching will understand. Thank you for tearing down the kingdom that keeps us in bondage!!! ❤❤❤❤❤❤

@VanntasticFinances Год назад

Thank you!!!

@debbiedamioli3199 10 месяцев назад

Amen ❤

@veryinteresting591 7 месяцев назад

Amen amen.

@tamikacrawford_reallifesh.t 5 месяцев назад

Amen

@Maldeze 2 месяца назад

Amen

@UniquelyMeAlmaLee 5 месяцев назад

I am a true numbers person and this instantly made sense to me. Your videos have totally changed my perception on debt/credit availability and how it can be used to benefit us in the long run. Actual home ownership is within sight because you took the time to share your knowledge.

@Joce123 4 месяца назад

AND FRUGAL LIVING WOULD ADD ..no cable ..cook from scratch..family if 4 you can make it in $200 , no gym, raise car insurance deductible, =$500 monthly x12 =$6,000.

@Joce123 4 месяца назад

Her husband needs to work at temp jobs during off season

@Joce123 4 месяца назад

Her husband on an annual basis nets enough money to add $2900 to their monthly budget.

@SuperQueenV. Год назад

More of these videos please 🙏 This is really nice to hear a real person working this out with you. So cool!

@cancio157 7 месяцев назад

“…this is now satisfied so it becomes cash flow….” Music to my ears 😊

@ingridkhajeh8982 Год назад

Love your channel and your voice. It's called creative financing. I juggled creditlines to buy 2 condos and the rent paid for the creditlines. Basicaly, the HELOC makes you your own bank even though you also owe that money. This allows you to have the freedom of movement within it to pay a lump sum to the HELOC ( Your income) thereby eliminating the interest payment on the HELOC as the lump sum is larger than the interest. Then paying the creditcard by the due date from the HELOC ( Because you put your income in) also satisfying the interest on the credit card. So now all you are doing is making your income and paying your bills. Even though there will be interest charges on both, you satisfy the payments by depositing a larger sum of money than the payment. Eventually when the creditcard is paid off, then you do the same on the HELOC. Everybody understand??

@Goatonomics 9 месяцев назад

Yes you’re keeping interest low, but only moving the money around in a circle without ever actually paying it down to zero lol. It’s a strategy to save interest but not necessarily great for paying down debt in an efficient manner.

@juliawitt3813 7 месяцев назад

We are so brainwashed that it takes time for the cogs to getting oiled 😂 it's the interest that kills us all. Usury is also deemed a sin in the bible , so more power to this woman, and to us all for beating them at their own game 🙏

@lillithjones993 2 месяца назад

I don’t understand if the $12,000 is a balance of debt she already owes on the card or is it part of her $14,000 credit limit😅

@keiranninjaspirit 2 месяца назад

@@ingridkhajeh8982 or just don't get yourselves into a right old mess in the first place and you won't have to juggle these ticking time bombs.

@jfrederick71 Год назад

I remember taking business math in High school... Gosh, we were so duped. I don't know how I found you but I'm sure glad i did. I totally binge watched a boat load of your videos last evening and immediately started transferring what I could of my fixed expenses to an existing Credit Card LOC. Can't wait until payday to make that first deposit into that LOC and get the process started. I'm not in super debt but I do have some cleaning up to do with a car loan and a green energy loan that I would like to get out from underneath sooner than later.

@VanntasticFinances Год назад

Thank you!

@Jesus-kt5dc 9 месяцев назад

Christy I think these type of videos should be a new video idea. Velocity Banking Talks/Chats with Christy. I think a lot of people would enjoy the visual, I think will help a lot of people. Have a great day.

@livingloud3945 7 месяцев назад

A suggestion to teach this strategy is to write it on the board in form of a circle showing how the money goes from one acct to the next and revolves. This simple picture may help.

@ceeleereed 3 месяца назад

She does that regularly in other videos. You should be able to find easily.

@gladyspenn4646 2 месяца назад

EXCELLENT just EXCELLENT. My prayers have really been answered. Thank you so much for all of your help.

@d.s.3551 Год назад

I think you need to reinforce more to people that they have to keep their spending still under their income to make this work. And yes encourage her to cancel cable and the gym to make this work better.

@lindayoung6882 Год назад

What is the husband doing the 4 months off season? Lot of income being left off the table by not having a side hustle

@keishe2011 Год назад

I got it so fast!! My very first video I watch of your was so eye opening!! I want to thank you so much for sharing it! I was taught the old way to go through your bank, but this is so much easier and saves you so much money! 🎉🤩🥰 bless you!!

@alanlvr36 Год назад

Your channel is named accurately!!! I just kept saying "This is fantastic!!" Over and over again!!! ❤ Thank you so much for teaching us!

@VanntasticFinances Год назад

❤️

@mmlsweet Год назад

This just popped up. I like this style and hearing y’all strategize is fun.

@VanntasticFinances Год назад

❤️🙏🏽

@jerrywagner2317 Год назад

She is good. I am working on my credit as of right now and doing what she says and it works.

@tinahildebrandt7544 Год назад

Did you open a line of credit?

@westcoastmediasolutions 7 месяцев назад

Can you do an update with this lady please? Would love to hear how they are doing now.

@zetsumei1017 5 месяцев назад

Updates would be a really cool concept

@mariannaryan456 Год назад

That's the banks that want cash gone. Every time you swipe a card, they make the transaction fee. Think about how many bills just got paid with a card in this example. On top of that, her food and other daily expenses. Not on only does the bank make the transaction fees, they charge 25% interest!! Then when the banks screw up, they get bailed out. "Too big to fail". Its quite a racquet they have going.

@GrymmTymm1313 Год назад

Hey christy, seeing the numbers and how they all work with each other is super important to understand how this works, but I think if you came up with/did a few videos showing a simplified visualization flow chart system it would make it easier for people to grasp the overall methodology of this concept.

@SHamm76 Год назад

Ah! I love seeing your videos pop up in my notifications! It always makes me smile and reminds me to breathe - you are just so lovely! 😊🥰

@maxlove4906 Год назад

I agree! Christy exudes/oozes peace and serenity. This week has brought much bad news, so I'm really only watching this to buoy my spirits 🙏🙈

@maxlove4906 Год назад

PS. On a complete sidenote/tangent, I love how she does the 'Cents' along with the dollar amounts; even tho it's always '$nnn.⁰⁰' and makes no cents 😉

@maxlove4906 Год назад

PPS. So... personally, I like it shown / written like that, even tho it's only for aesthetics. It will also use up the ink in those pens much more quickly!! 😉🤣

@VanntasticFinances Год назад

Wow! Thank you so much for that!

@VanntasticFinances Год назад

@maxlove4906 Prayed God will bless you with GOOD NEWS and a joyful heart this coming week ❤️🙏🏽

@nmsauditor1a950 10 месяцев назад

This strategy only works if you are cashflow positive. $5/month is not gonna cut it. They have to reduce expenses, make more money or both. Husband could deliver pizza's, drive Uber or something to make money in the off season of his business. I would also dump the $120 cable for a $35/month Sling account, and, the gym membership would have to go also. Again have to get more than $5/month cash flow, or the are paying down $60 worth of debt annually.

@Gigi2you Год назад

Its so crazy that so many of us in U.S have a negative cash flow😢 A lot of ppl are "house poor" housing costs are astronomical. If this situation in this video is like yours please use this method or something alike. Peace is not something that folks have nowadays and it would make for a less stressed out world.

@dtagdoesnttakeagenius1934 2 месяца назад

I totally relate to the caller!!! I am stuck where she is too! OMG, I’m going to keep replying this and write down my info in its place to help me! I’m trying to re-teach my brain to pay off my debt. Thanks for this info! ❤

@rjs6172 Год назад

Thank so much Christy and thanks to your client for sharing this strategy session. I'm very appreciative that I can continue to learn this process and the terminology, especially for when I can qualify for a PLOC or a HELOC. My FICO and Vantage credit scores are slowly improving, yay!

@VanntasticFinances Год назад

Yayyyy

@helen6365 Год назад

I've watched a few of your videos but this one was a huge help wrapping my mind around this style of banking

@davidsyrus3157 Год назад

Hi Christy, when I first understood this, what helped me was thinking of it like a funnel. Income in the top (widest opening), and expenses out the bottom (smallest opening). Perhaps teaching people the LOC is like a funnel. All income in, all expenses out. Obviously, if the LOC is a credit card, subtracting the amounts to keep in checking since they can't be paid with cc.

@adams9355 7 месяцев назад

Cash is king. Cashless is a major concern and a move towards a police state.

@geraldconroyjr2428 Год назад

Thank you for your videos. You have helped me to develop a strategy for my wife and I. Greatly appreciate what you are doing.!!! God Bless.!!!

@bernadettegreaves5397 10 месяцев назад

So true debt consumes you and stress u I can see it being that way because I’ve already had everything on auto pay that was the first stress relief for me with payments which also helps my credit report which reports at 3 yrs with no missed payments. That’s a wonderful treat!

@lauriebolland4971 Год назад

So helpful. I'm new and trying to figure out how to transition over to this system without missing payments. This shows me so much!!! Thank you so much for this!!

@szaritamordiceai7041 10 месяцев назад

I am absolutely so impressed and incredibly intuned that this is my second video in less than 2hrs! I am grateful because I am getting ready to start the process where owning a home is concerned and I’m in the process of compiling a list of questions to probe. Much appreciated for the insight obtained thus far! Thank you-will continue to stay tuned!

@christiebriggs3441 11 месяцев назад

You’re a blessing by teaching us a new way. I never was able to understand figuring average daily balance. Can you do a video on average daily balance?

@VanntasticFinances 11 месяцев назад

@christiebriggs3441 Great suggestion! The average daily balance can really only be calculated by the bank, but you can have an idea by adding the high balance for the month to the low balance after making income transfers, then divide by 2 to get the average of the numbers. I hope that wasn't more confusing...

@HappyHealthyandFree Год назад

How do I get assistance like this? I’ve healing from cancer and have had some unexpected expenses. 820 credit score with lots of availability on credit cards (credit unions)

@kauairootsohana Год назад

6 beers deep still killin the game

@timhunter684 3 месяца назад

Excellent!! I’m starting to get it now!! I would have had most of the same questions this lady did!

@lelayeedwards4551 8 месяцев назад

Ok. I just watched this in its entirety. Definitely a different way of THINKING. Very interesting. It makes so much sense, but it’s a definite change in mindset. 💯

@StyleRevisedByCstclair Год назад

This was so interesting and helpful and she asks questions I would have asked. It would be awesome if you had a playlist of just calls like this. Also, we have an idea of what to expect if we do a call with you. Thank you so much for what you’re doing. I’m hopeful for the first time in decades 🎉🎉🎉🎉

@ilonakim5034 7 месяцев назад

If a husband doesn’t work why to pay for a child care?

@zetsumei1017 5 месяцев назад

The husband does work. She said he works 8 months roughly of the year. Sounds like he's into some type of landscaping or something

@keiranninjaspirit 4 месяца назад

@@zetsumei1017so the husband could look after kids for 4months out of the year?

@zetsumei1017 4 месяца назад

@@keiranninjaspirit he still may work. A lot of daycares won't accept people that have random times like that

@keiranninjaspirit 4 месяца назад

@@zetsumei1017 aahhh I understand

@Joce123 4 месяца назад

I learned that now when you apply for a 0% balance transfer. They will ask you how much money you have in your checking account that moment.. Luckily I had just put my paycheck in and I had a high balance in my checking account. So I got $9800 0% financing for 18 months...

@tyjomeb123 11 месяцев назад

Absolutely loved this presentation. Thank you so very much!!!

@latishabattle8582 5 месяцев назад

Thank you for sharing this strategy ❤

@jyoung8395 Год назад

Thank you for posting! It makes more sense because you explained paying the credit card with the heloc.

@VanntasticFinances Год назад

Glad it was helpful!

@fixitjohn 4 месяца назад

Smart girl! I love your channel.

@VikingJay17 10 месяцев назад

My light bulb went off the very first video that I discovered of yours. I was actually more pissed off and excited at the same time to get started immediately

@socogirl8610 Год назад

Thank you, Christy! I've begun this process, but picked up a huge chunk of info from this vid. ((Hugs))

@IamThatDude Год назад

Many Americans have a trauma bond with their money. It was difficult for me to accept a new way to manage that relationship because of the time invested in the unhealthy old way. #VelocityBanking #GoodDebt #WiseWays

@maxlove4906 Год назад

"Trauma bond"... I've not heard that term before. In essence, tho, yes, we were all brainwashed by the "system" - we can/must re-educate ourselves 🙏

@IamThatDude Год назад

@@maxlove4906 agreed. It was such a shock to me that I did not have to wait 30 years to pay my mortgage off. I did not have to wait forever to pay off a credit card balance. I can have a lot more control over my money, if I just had information. I am thankful for this knowledge. 🙏🏽

@mygoodlife204 Год назад

Not just Americans! the whole world. Watching from South Africa

@Jesus-kt5dc Год назад

Christy, would it be better if she parked her credit expenses in the credit card because of the 25% interest? Her cash expenses parked in the HELOC, gives her the ability to pay them while lowering the ADB. Her husband needs to get a side gig/work from home the 4 months he's not working. His income parked in the credit card would become their emergency fund/ checking account saving 25% interest. Just a thought. Honestly, this one was a bit confusing to me, so hopefully I make sense.

@VanntasticFinances Год назад

@Jesus-kt5dc This is a difficult scenario…that’s why I was trying to show her that she definitely needs more income JUST to beat her interest. REGARDLESS…I wanted to show the ppl that not all scenarios are going to lead to a payoff date. Some need footwork BEFORE you can start velocity banking. Did you get that? Or should I remove video to save the confusion?

@Jesus-kt5dc Год назад

@@VanntasticFinances Yes, I agree. Hopefully her husband's work picks up. I'm happy you pointed them in the right direction. Have a great day.

@Jesus-kt5dc Год назад

@@VanntasticFinances Leave the video up. It's a great lesson even for me. It's difficult to teach people a new concept, that requires cashflow. In this situation being a negative cashflow to begin with doesn't help her situation. Leave it up, I really enjoy other people's comments which might spark an idea from someone, that me and you would have never thought of. 😊

@keepmovingforwardRN Год назад

In my mind when he is off for four months he could be daycare. That saves the 800ish decreasing expenses while he is not working. That extra money could go towards paying down the credit card

@Jesus-kt5dc Год назад

@@keepmovingforwardRN I thought about that also. If he's going to be home save the money, also stop private school.

@chucktownvanlife4267 Год назад

It’s time for this lady to cut back expenses and her husbands gonna have to get a part-time job on his slow time. That’s a one-way to get ahead of this. It’s a short term hassle for a long time benefit. Just gonna take some work.

@duke6864 Год назад

I love you patience.

@zetsumei1017 5 месяцев назад

Seems like a good part was cut at around 29:00. Sounded like you were getting ready to say something about the cash back bonuses. I did some modest calculating. 1000 bucks of expenses with a 2% cashback. You will save a few days of interest with the cash back bonus. Thus more small amounts thrown onto the card

@barberricfitness1310 9 месяцев назад

I begin grasping once it’s worked down more. That’s when the “ah ha” moment occurs!

@chrisstevens2504 4 месяца назад

How about her husband drives for pizza delivery on the off months?

@christopherrogers8316 8 месяцев назад

how can i get some help? i need help arranging my finances.

@sarapiksit 3 месяца назад

A lot of financial professionals are saying use cash more. So I'm gonna go w that and no one is going to control me

@allyourchildren1550 Год назад

This was helpful to hear. I'm looking forward to our session on Aug. 9th.

@judyelias1858 5 месяцев назад

It’s very hands on when you get into the nitty gritty. Would you be transferring money in and out of HELOC weekly?

@TheSingingVocologist Год назад

Hi, Christy. Thank you for sharing your knowledge. Can you do a video about putting your money into a life insurance policy instead of a bank? I’m intrigued. If you’ve already done one, can you share the link? Thank you!

@VanntasticFinances Год назад

ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-ELMLgatlCUM.html Infinite Banking with Chris Naugle

@maggiep6503 11 месяцев назад

When is the best time of the month to pay credit card or LOC and start paying expenses? Right on or before due date? Or does it matter or make a difference when? Of course not late.

@mygoodlife204 Год назад

So all income must always hit the line of credit first!

@Joce123 4 месяца назад

A follow up would be great!

@kennycharles6041 11 месяцев назад

Perhaps the best way to teach this ‘new way of thinking’ is to remind people that when you pay the expenses with the credit card you are using OPM (other people’s money) and for every day you don’t use the HELOC to pay these expenses you are saving yourself interest on the HELOC. You may only be saving $3-4 per day but it adds up rather quickly. Eventually you will pay off the credit card and then you will not incur ANY interest charges on the credit card because you no longer have a revolving balance. It takes time in a scenario like this where you have very little cash flow. Does that explain it any better?

@createdonthate 11 месяцев назад

A light bulb 💡 went off the with the first video I saw ❤ Thank you for sharing your knowledge 🍓

@DrTracyND 9 месяцев назад

Question? What do you suggest with bills like rent that charge fees to pay the bill with anything other than your checking or savings account?

@karennaturallyartby Год назад

I like these real life examples/demonstration - the questions we have are getting answered as well. What does one do if they don’t own a home and have a heloc

@Jesus-kt5dc 9 месяцев назад

PLOC and CC would be the next best thing. Have a great day.

@monicaandrada2610 8 месяцев назад

I also have more expenses than income. I want and need this done for me! 🙋🏻‍♀️🙋🏻‍♀️ I volunteer. 😊 I am so confused on how this works.

@trevordad27 3 месяца назад

I am just now seeing your videos and I’m blown away. I have one question to ask though. If I use a like of credit some places won’t let you pay with credit card or does helix have its own routing number?

@keithdechief1 9 месяцев назад

This is brilliant as we can see exactly how this is going to work and watching it being thrashed out to get the clear plan is really beneficial. Thank you Cristy! 😊 Ps. Hope you can determine a UK plan of action on debt as products and fees seem to work differently here.

@attacktitan7849 Год назад

This lady said it. she, like me understands the math, but we are visual. She is not there with you because she cant see how to get there because the part is that you first have to change your bills from, for example manual or automatic bill pay in your banking account or vendor website to have them manually or automatically go to the new credit card. THEN tell them their paycheck is going into the HELOC or LOC and the credit cared is getting paid from that. You need a picture. NOT numbers.

@jp-xh4ni 8 месяцев назад

To my understanding of the video @ 26:24..isn't the 12K a BALANCE on the CC and you should be ADDING the 2323 to the CC = 14,323+ interest not SUBTRACTING it.. where are you getting the $ to pay down the CC if you are putting ALL of your INCOME to the HELOC?? Am confused and could be wrong watching this Video

@jimjam5570 Год назад

*Imagine being ~12k in debt, not including mortgage/heloc, and still paying 120$ cable and a 52$ gym membership...*

@dm_grant 4 месяца назад

Cable... who has cable in 2024??

@danielledantzler6373 3 месяца назад

And you @ a negative cash flow Husband makes no money 4 months out the year and working months income super low. Husband should be working part time something during off season and on season. Cancel subscription and walk for health.

@noellearguelles8158 Год назад

I have watched several videos I understand the concept but I am just not sure how to apply this to my situation. I have no HLOC no PLOC just one cc $500 to maxes out. Should I use that CC? Do I make one income payment each month or as I get the income coming in?

@wigalo2081 Год назад

This method doesn't work. What will work is to scrutinize your budget and find a way to make sure that your expenses are less than your income. Once that happens, you can then devise a strategy to attack your debt. Velocity banking is not the magic bullet. The magic bullet is doing what I indicated in paragraph 1. It is an absolute shame that Christy and the other deciples of this "strategy" aren't making that crystal clear. The jury is still out on whether they even understand this themselves, which is scary considering the number of people that follow.

@zattut Год назад

You said that putting income toward heloc satisfies the payment, but you did not subtract the payment from income. It should be heloc - (income - heloc payment) instead of heloc - income. Please explain, thanks

@juliawitt3813 7 месяцев назад

Surely for this lady when the husband doesn't work the child care will fall away too

@Meltyfairy 11 месяцев назад

Interest reduction based on per diem balance transfer is how you could explain the why

@marystitching Год назад

That was amazing. So setting up automatic payments is key. It sounds scary.

@VanntasticFinances Год назад

It’s reaaaallly simple… much easier than what you’re doing. Just a mindset change🤗

@thequeenofwitches7943 Год назад

If I were that lady I would: *transfer the kids to a charter school= $0 *Work out at home =$0 * Cancel cable and get hulu and Netflix= $40. I don't know anyone who is still using cable. All tv shows stream on apps now. * Ask a trusted retired family member to watch your little kids at home. Pay them about $100 per week, and free meals.

@peaceofmind6141 Год назад

@@thequeenofwitches7943I agree cable is a rip off!! I haven’t had it in years

@JessicaRamirez-jd8ze Год назад

Is it worth paying things such as utilities and such with a credit card as they charge you a fee when paying with a credit card oppose with a debit card? I know it’s around $6-$10 fee when paying my utility bill with a credit card.

@beabchill 9 месяцев назад

In my educated opinion; this is when one must do their own personal homework and calculate the cost of the expenses/fee(s) if choosing to pay with debit card, Ploc, Heloc, or Credit card. Only one knows the terms of agreement(s), and reward(s) when and if applicable.

@sonya5568 Год назад

So did i miss a video about banks, etc. i have several bank accounts and yet still need to get a system to pay debt. Your suggestions when it comes to banks etc? I am nervous with selecting the wrong type life insurance, etc. I need to learn!

@TraumaChaplain Год назад

So is it a reality that you will have a high probability of losing your house with the HELOC if your house is significantly risen in value or you have equity in your house?

@Jeff-gt2xu Год назад

I, honestly, don't know of ANY landscaping / landscapers (and all the ones I know have their own businesses) that don't have work during any season. They all have snow plowing contracts so there is income during the "off" season.

@bootburner4544 9 месяцев назад

You forgot to add the $1,973 expenses to the existing CC balance of $12,000 making the new balance $13,973. Then she pays $2323 when that next month's payment becomes due. However that will then put her back at $12,000 owed. I know you have good intentions but you are giving financial advice based on faulty logic. You would be better off teaching how to get her living expenses down so she has positive cashflow that she can use to pay down the loans and credit lines faster.

@nicholaskinlaw5138 4 месяца назад

I believe her method is to pay from day 1 the CC from the HELOC first. Then add the monthly expenses and make the same payment of $2323 on the next CC due date. She didn’t state it in this video but her calculations were leading that way. The key is WHEN you start. We also have to remember that most of this example and advice given is based on one person’s salary as the caller stated she is trying to get mostly everything based off of her salary. She does inform her around the 20:00 mark that she needs to have more income for this method to work otherwise, the interest on the HELOC would catch her in a trap. When you add the husband’s income into plan it satisfies the HELOC shortfall right? Another thing to consider is if the expenses that are expected to go to the CC are fixed and not varied. If that’s NOT the case she will have another potential problem.

@bootburner4544 4 месяца назад

@@nicholaskinlaw5138 Even if you perfectly time the income hitting the heloc and CC payment going in on due date taking advatage of grave period, there is little to be gained from all of this shuffling of money. There will be very little interest saved between the heloc interest rate and the CC interest rate. If the husband is only working 4 months in the year they should have him look after the kids and reduce their expenses $850 per month. Then use that money to pay down the loans. Now that's the sort of advice Van should be giving to actually help people like this.

@bootburner4544 3 месяца назад

@nicholaskinlaw5138 Her system is simply robbing Peter to pay Paul and using the slim savings in interest costs and cash rewards to justify all the extra work. A better solution is to find the extra income to pay off the CC and HELOC faster. Here's an idea .. If the hubby is only working 4 months in the year why doesn't he take care of the kids and save the $850 daycare expense each month. Instant cashflow and the money saved can be used to pay down the loans. Now that would be useful financial advice to give this couple, rather than telling them how to arrange the deck chairs on the Titanic. 😂

@deborahwatson2208 5 месяцев назад

Hello Christy. I would love to talk with you to ask a question about my financial situation regarding LOC and HELOC loans.

@jamiec6671 Год назад

Thanks for sharing!

@1107suze Год назад

If you're going to use a credit card for all (most) of your monthly expenses and any purchases (I've done this for years) make SURE you are only using a credit card with 0% or with no starting balance. If you start to do this and just use an existing cc you have that has a high interest rate and a high balance, your monthly expenses will now accrue that awful interest rate too. The cash back rewards of 1-2% don't come close to washing out the high interest rate.

@Tara98124 Год назад

Exactly! I’m so glad you saw that too. I was so concerned when I realized she wasn’t going to address that issue. You are exactly right. Expenses like this should only be put on a cc with a ZERO balance and be paid off each and every month!!

@Bamapride1985 11 месяцев назад

This is the complete opposite way to work the velocity banking strategy to get out of debt. Throw the income into that card that already has a balance so then the avg daily balance is lower as you are using it and in return, your monthly interest will be a lot lower than if you just let it sit dormant and paid the minimum payment on the card. Bonus if it is rewards card bc the 2% cash back rewards doing this can offset the amount of interest that you are being charged. What hurts the process is segregation of income, which would be what you are talking about when speaking about starting with a new card that was originally 0. Once the card is at a 0 balance, don't use that card any longer and then swap over to a card that has a balance to do the same process of putting all extra cash flow toward reducing the balance on that card.

@Joce123 4 месяца назад

But what happens when the bank freezes your HELOC.? More extreme frugal living is a MUST.

@outfitsgarage88 4 месяца назад

Drop the cable and get a router with your internet. It's a one time fee. And try not to get subscriptions to specific channels

@tamorazana 10 месяцев назад

The way you teach for me at least at 15:07 I immediatley picture the recycle logo, my income goes into HELOC, then out to expenses. Instead of my income directly to expenses. I just think of the HELOC as my middle man.

@VenusDoom446 Год назад

How is private school LESS than daycare ??? Just had to point that out.

@sapphireblue1013 8 месяцев назад

Possibly 2 kids, maybe?

@SandiSMoore Год назад

Great exercise ! Thank you so much

@cecilarnold6843 Год назад

Thanks so much for teaching this

@jeang6748 10 месяцев назад

This is circular cash management

@KingfisherFarm 3 месяца назад

Honest question: why don't you add the approx. 3% fee utility companies charge for using a CC? It would be $14.28 in the example.

@kymberlilittlejohnwhite6603 Год назад

Describing the first expenses of $5400 in this example as a total of CC eligible payments and the living expenses would help to illustrate that the $ for the CC income transfer is already part of the Heloc expenses.

@rickfromjersey8098 6 месяцев назад

Great video ! thank you

@susanndonofrio1321 10 часов назад

As the credit card minimum payment comes down do you change the payment for more cash flow? Or is the idea to keep it the same and the card balance has more toward principal?

@jojoRizzle 7 месяцев назад

Curious why do you subtract the income and add the expenses to the HELOC

@attacktitan7849 Год назад

Hello I watched this video and I think it would help if you would first explained to that you first have to either manually pay each of the bills at or before their specified due date using the credit card OR set up automatic charges with each vendor to charge the associated bill to the credit card. Then each month, you use money from the HELOC to pay the credit card on on the due date but you would be paying the Total of all the bills instead of the minimum payment. Im also visual like she said and have watched a couple of your other videos and it didn't click until just now. That is, until I understood that the bills would be getting charged or paid on the credit card at different dates (This is where I was getting hung up) Then all you are really doing is paying them all in one lump sum, on the due date, using some of the funds from the HELOC, WHERE YOUR CHECK IS GOING to slowly pay that down. I drew a graphic of it. Let me know how to get it to you.

@stephaniediannehoward2121 10 месяцев назад

Hi @attachtitan7849 could I get a copy of your graphic? It sounds like what I need to get my head around this concept. TIA

@Bur6212 Год назад

So this woman is still essentially losing $5 a month using this method? Her available credit in her HELOC went from 36475 to 36470. What about a borrowing time frame. I think with my HELOC, I can borrow against it for 10 yrs then there’s a repayment window.. this method wouldn’t work once you can no longer borrow against it, correct?

@dawnt5587 Год назад

Their finances scare me to death. They are beyond broke. He needs a regular job and a part-time job. Working this system might save them but there is no wiggle room. Where are their expenses for food, personal care and medical expenses? They simply cannot afford their lifestyle.

@maxlove4906 Год назад

Most unfortunately, these videos are a reflection of many people's lives, & getting/got outta control. Thankfully, they are addressing their situation 🙏

@VanntasticFinances Год назад

@dawnt5587 all of their expenses are within the total expense amount every month.

@dawnt5587 Год назад

@@VanntasticFinances If that is the standard, it’s pretty low. That’s why Americans are broke.

@thequeenofwitches7943 Год назад

@@dawnt5587 I think she would be better off alone with that husband she got. Sounds like she's carrying most of the 🏋.