5 Common Velocity Banking Mistakes and How to Avoid Them

🚀 Are you ready to turbocharge your financial freedom journey? In this video, we'll uncover the 5 most common velocity banking mistakes and teach you how to avoid them! 💥

🔥 We've analyzed the top-performing videos on our channel, and we know that our audience loves practical tips and tricks to eliminate loans and maximize their financial potential. This video is perfect for those who are age 35-54 and are looking to improve their financial situation. 💪

📈 Dive into the world of velocity banking with us as we break down each mistake, explain why it's holding you back, and provide actionable solutions to help you overcome these obstacles. Don't let these common pitfalls slow down your progress towards financial freedom! 🌟

👉 Don't forget to like, comment, and subscribe for more amazing content on velocity banking and financial freedom. Join our community of over 23,000 subscribers and let's build a bridge to financial freedom together! 🌉

🎯 So, are you ready to avoid these common velocity banking mistakes and accelerate your debt payoff? Let's get started! 🚀

[ask_why]

People really need to keep an eye on expenses: To keep that cash flow as high as possible.
We personally enjoy budgeting: “Every dollar has a job…”
This post was really helpful!
Thanks!

[djtgrind]

Jusy cane across your channel. Man your enthusiasm alone made me stay. Ive watched alot of velocity banking but NEVER heard of Interest Volume! Thanks

[dvdgantt]

CJ Wallace blessed me with Velocity Banking Skills... Thank God for this skill... I use my Checking Line of Credit to reload my Credit Cards and Credit Cards to knock out the Bills...

[seeyaatthebema]

Haha! Love the shirt change at 3:10.. and the one at 4:22... lol

[glenwhitbeck]

How much do you charge for a consult plan?

[jenellez]

Good Lord bless this man bc he just saved my life! And like many said in the comments the energy! I'm so hyped and ready to go discuss this with the fam. 🙏🏻

[bob]

You guys always lose me immediately, you always start out with these outrageous incomes

[leahrabeauxvezinat]

I would agree that while there is high-interest debt, retirement contributions should be paused (except for enough to get the company match) but are you really guiding people in general not to invest because the market is down? Please clarify. I watch several people with VB videos and I like yours a little more because you don't discount just paying things off with extra funds. You do misrepresent amortized interest vs simple interest though. Calculate the interest paid on your chunk vs interest on the same amount of money in the mortgage. You cannot compare the whole amount for one and then just the chunk of the other. For example if I have a 300, 000 mortgage and I chunk $20, 000, what interest do I pay on that $20, 000 at 0.21 VS just sending that same extra payment directly to the mortgage ($20, 000 * 0.07)

[JeffMalott]

If you are not financially responsible (ie have cc debt that needs paying off) ... This seems like a dangerous game, many folks may max out that LOC just like a CC

[Romenet]

Thanks a lot for your videos. My first question is if you have multiple credit cards, should you try to pay other credit cards from your “pdebt reduction” credit card? So would you deposit into the debt reduction CC not only living expenses but also the other minimum payments of the other credit cards and pay them from there?

[tinabreon]

Thank you for getting back with me. Living on $2, 200. a month my rent is $1, 000 month. Enter credit is very good. My credit card I always doing cash advances. I find if you make money work for you it don't overtake you and you don't get swallowed up in debt.

[raevenphillips]

I like your information but you are NOT dealing with your average audience’s IQ— which means you need to dumb it down a bit. Your use of acronyms so often which mean something to you and are important to understanding what you are saying needs to be better explained as you go along (i.e. don’t just say the words that explain your acronym s, but explain what that means, as well.) Yes these types of things take time, But, you want people to follow you and that takes time. You need to explain more as you go. Also clean up whatever that white drip is and REALLY work on improving your video editing cuts. This is the whole world watching you! Your editing cuts are not accurate enough to attract many serious people because they do not appear to be clean. Words get cut off from the last segments, etc. But your message is good and you have a greater speaking voice. Lest you think I do not know what I am talking about… I have two PhD’s and have spoken all over the world in thousands of speaking engagements to crowds of as high as 6, 000 or so. So I do understand communication pretty well. YOU COULD BE GREAT AT THIS, MAN! It will just take a little bit of additional work to get there. Watch your videos yourself and make notes from what you see. Watch them with a couple of friends and give them permission to stop the videos and tell you where they have troubles understanding what you mean when you say something. Then reassess their input and your videos on your own and decide what part of their input makes sense and what is not helpful. Then redo your videos with this new information in mind. I am taking the time to make these suggestions because I think you have real potential. USE whatever I have said, not as criticism, but as input. Good luck and good information!

[rosebinder]

Using debt to pay debt? Also, an IRA is not DOA.

[stephencarrier]

This guy has bridges for sale in Brooklyn!😂

[Scenthype]

This is the type of guy you want to work with in real life. Great energy and passion.

[Lambchop]

Oh I just love you CJ ..you're doing God's work brother!

[PrettyNupeU]

What if I have a CC with fixed APR of 6.9%

[tinabreon]

Whoa how can someone have a $5, 000 a month income our income is $2, 200 a month. Don't you think unrealistic if you have that kind of financial income you shouldn't have any debt.

[icanonlyimagine]

What if you don’t have many bills that you can use a credit card to pay?

[John-qcof]

So how do U control the prices of power, groceries etc. when the prices fluctuate so wildly?