Correction: At 6.11 in the video the number spoken was $3,685 but should have been $13,685
Using Velocity Banking to Payoff Multiple Credit Cards: • Using Velocity Banking...
Velocity banking is a financial strategy that typically involves using a line of credit such as a HELOC to help individuals pay their mortgage faster while also saving on interest. However, the velocity banking strategy expands well beyond one use case.
So in this video, we will explore why we believe it mathematically makes sense for anyone with credit card debt to use the velocity banking strategy. We will go over an example of a case study to help gain an understanding of the true savings that can be achieved with the strategy. The video will also explore why just because it might make sense mathematically to use velocity banking, it is still not for everyone.
Please note that this video is intended for educational and entertainment purposes only and should not be considered financial advice. In presenting examples, we aim for accuracy, but please note that our channel does not guarantee their precision, acknowledging the possibility of errors.
24 июн 2024
