Pay Off Debt with ZERO Cashflow: Don't cut expenses- use velocity banking!

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00:00 - How to satisfy the minimum payment requirement
01:25 - Month 1 Walkthrough
02:15 - Month 2 Walkthrough
04:11 - Month 3 Walkthrough

[nancysharon]

You explain everything so simply. Thank you. ❤

[aliciam]

Hi Jess! I wanted to give you heads up that I sent you my Case Study Info Sheets! Sooo looking forward to hearing from you! :)

[LA-kwnd]

Thanks. I'm going to send my numbers. I started Velocity Banking for the month of December, but....😊

[jeremypeterson]

I am gonna fill out your form and let you run my numbers for me.I do velocity banking but I think I'm missing a step....thanks in advance for your help!

[paldavi]

Great information . But yhe biard5 anf figures ate to small bigger white board be per5 . Thanks Paul

[thomasxxxxxx]

What is being overlooked here (and in many other videos) is that the minimum payment of $160 that the person had is roughly $100 in interest and $60 in principal

Thus before using this approach the debt was already being reduced at the rate of $60 per month

Moving $2400 every month to the card saves interest on roughly half (about $ 1200) of that per month assuming expenses are spread out evenly during the month (if expenses are all on day 1 then it saves nothing).

At the credit card interest rate of 30% this means that per year it saves $360 of interest ($30 per month) at best (less as the debt decreases, since with a lower debt there is lower interest). So sure $30 more per month is better than nothing but it is not spectacular

Moving the $4000 debt to a lower interest rate card (say 20%) or loan (say 10%) will save more

[eljuancho]

Priceless content!♥️🙌 gtfo the matrix 💪👑💰✈️

[kimberlyholt]

So if I do the same if I’m paid every two weeks. Pay my mortgage with my account. Then take what I would pay for utilities, insurance etc with my debit card, I take that money and put it on card and pay it off with card? You also need to do this like a day before statement date right?

[SuperFS]

That’s the video I was looking for! How to do velocity with 0 cashflow . Thank you! Do you have same principle but for paying off mortgage?

[KCandthesunshine-kf]

I am paid weekly, does that make any difference at all in putting this into practice?

[kishinaheaggans]

New subscriber here🙋🏽‍♀️...I'm following along closely so I can learn this strategy. However, I'm getting tripped up on when reaching a zero balnce you still have to account for expenses to come out for that month correct? So my question is how do you stay at zero balance if you have to use what's paid in to cover expenses for that month once you reach zero? I hope that makes sense🤦🏽‍♀️... I'm no too good at math 😂

[staceyhastings]

I'm very interested in Velocity Banking BUT how does someone do this when there are numerous credit cards that are maxed out. I can't figure out what to do in this case, several credit cards. Any help would be greatly appreciated.

[landoespinoza]

When exactly should I make the large payment? Right before the due date?

[Kcache]

How this work when you have multiple credit cards? This scenario only explained with one credit card. Thanks

[Flying_Ram]

What are the best places to apply for velocity banking. No youtuber is mentioning that

[jasmindavis]

How is this done if you have multiple maxed out credit cards, that are all due around the same time?

[meliepl]

I can’t seem to figure out how to apply Velocity Banking to my current situation. I only have 2 debts. A credit card on 0% and a car loan at 3.79%. I want to get out of debt asap but feel like maybe its best to stay with what i have by making just the minimum payments and adding extra $ whenever i can… I can’t seem to make it make sense with my income and budget and it’s driving me crazy! lol

[natalieroberts]

Problem is when you have maxed out multiple credit cards and are drowning. How does one get out of debt when you can’t take on another loan?

[ejcorinealdi]

I keep trying to follow but I get lost on month 1!
Why is she having interest if she is putting her paycheck minus checking account, into her credit card? Is she putting the whole $4k into it???

[theresadonlucas]

I don’t get it. If you pay 2400 a month and spend 2400 a month you are only saving interest