How to Pay Off A Credit Card with 0 Cash Flow!

How to Pay Off A Credit Card with 0 Cash Flow!

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[bryanwilson]

You work for 42yrs to have $2m in your retirement, Meanwhile some people are putting just $20k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life

[ladyjavandab]

Not sure about where you live but my mortgage provider, car payment, and loans will only allow me to do and ACH out of bank or debit card. I get paying for groceries and gas and other living expenses like utilities on a cc as most companies allow you to but some many don't. I need to see how you pay cc down without racking up more debt!😊

[izgler]

Snowballing is much better. Pay minimums on all CC except your highest interest card. Pay the monthly minimum plus a set amount you can afford every month to pay that off. When it’s paid off, take the payment you were making and apply it plus the minimum payment to the second highest interest CC until it is paid off. Keep using that strategy and by the time you get to your final card you are making massive payments and it will be gone in no time. It works and there are worksheets you can plug your numbers (don’t forget interest) into online and it will spit out your payment routine complete with payoff date. Then just be disciplined and follow it.

[UncleBobo]

The math is wrong. Month 2 would not be $9, 600. It would be $9, 600 + the credit card interest on the balance for that month.

[breaking_bear]

You may have just changed my financial life with this video. Thank you Andrew!

[toluca]

Basically this is velocity banking. You can use a personal line of credit and do the same thing.

[Olastyles]

I can not pay my bills or mortgage with CC So I could only play this strategy with my food bills- spending at grocery store and then paying off exactly the same amount

[marcplaner]

Just overpay on maxed out cards and take advantage of all your perks. It's not a whole lot, but over time, you'll build credit, and you build an emergency fund that works for me, and if you pay before the credit is reported the percentage will allways be 0 if you don't carry a balance

[robertnelson]

Been doing this with my budget for the last 8 years and have saved 50 thousand while on a pension it’s works

[LatinosEmpresarios]

video won't get suppressed > there are hundred of other videos showing similar content! keep it up, you are providing great value !!

[GoNoMoreOut]

Synchrony credit charges interest on any new use IF there is 1 dollar owed on the account. No waiting 30 days UNLESS it’s your first payment

[justineubank]

Velocity banking, it's not being suppressed. The only way to get out of debt fast is to pay more than the minimum payment.

[LifebyLisa]

If one pays all utilities with a credit card, add about four bucks for the fee to use your card for each bill paid.

[MustafaAydemir]

you are helping people. you deserve all the million likes and more.

[maxwellrucker]

Good concept the only thing not figured in the math is the interest that gets tacked back onto the credit card balance from the $8, 000 balance still owed.

[paulkrom]

I’ve been doing this with my high interest loans. But I also pay a few bucks extra every month on my regular bills.

[amandaallen]

Correct me if im wrong but you still have to pay the interest for the initial sums despite paying each month. You still have interest on the top line figure before adding you £2000 so infact while it could work.... You are missing the figure for the interest so its not going down as fast as youre stating. What im stating, not well, but, is you still have to pay the 21 per cent on the standing comes out of the 2000 so 2000 isnt coming off the debt Its whats left after the 21 per cent comes off

[greenerpastures]

One of simplest ways to reduce your total interest paid on your credit cards is to make your payment to your credit card the day after the closing date, not the day the payment is due. That way there will be less days to charge interest.

[peedump]

25% interest on $9600 doesn't give you a starting balance of $9600 for next month. You're still falling behind because of recurring interest charges on outstanding balance.

[adayinthelife]

You forgot to add the 377$ in interest going into month 2. So the balance is actually around $100 less.