Should I Use My SAVINGS to Pay Off Debt?

🆓 Join my FREE Velocity Banking Private Community

WHITEBOARD Personal Analysis

🏦 INFINITE BANKING CONCEPT

GET HEALTHY! While Losing Unwanted Pounds- OPTAVIA!

FETCH! Come save money with me! Sign up w/ code 1EQG55 & get 2,000 pts:

FOLLOW ME HERE 👇👇👇

FACEBOOK- Vanntastic_Finances
INSTAGRAM- Vanntastic_Finances

Christy Vann and its affiliates do not provide financial, tax, legal or accounting advice; the information presented on this web site/Youtube channel are presented for information/educational purposes only, and following the advice in this video is the responsibility of the viewer and not the video creator.

By participating in this YouTube page, you agree to comply with the following guidelines. In any case, the information provided is “as is” with all faults and without warranty of any kind, expressed or implied. In no event shall Christy Vann, or any affiliate organization be liable for any damages, lost profits, or lost data even if we have been informed of the possibility thereof. Linked Items may create a financial benefit for Christy Vann. Christy Vann is an affiliate of Unstung Marketing LLC and may receive compensation for referring you to their services.

[ComdrStew]

My dad owed $5, 400 on different cards and I figured he was paying $108 a month in interest. He had 12k sitting in the bank. I told him he should pay off all his bills, but he said he would not have the money in the bank. I told him he still has the money on the CC if he needs it. I showed him how much he was paying in interest and was just throwing that money away. He went the next day and moved $5, 400 out of savings, put it in checking, and paid off all his debt.

[acespring]

It’s the fear of not having any money in the “bank”.

[aliltussin]

There are not enough people that know this. I learned this years ago from another Youtuber that has grown since then. What I find funny is you have some with hundreds of thousands or millions of followers on things that don't benefit you in life whatsoever. Yet, something that most people struggle with, managing money, doesn't get that same attention. Funny how that works yet people always complain about it. They always feel like they are stuck. Thank you for showing people that there is a way. Maybe one of these day I can get the courage to help people in this space like you are doing. Keep it up.

[charlottesumner]

You have literally taught me how to totally transform our lives and for the first time ever KNOW that we will be able to retire in less than 5 years DEBT FREE! Very grateful to you!! ❤️

[truckn]

*This should be taught in school from grades 6 to 12 and hopefully by graduation it will be so ingrained in the students brains that not many of those students ever goes into debt. Or at the very least understands how to use debt correctly and quickly get out of it!*

[sarasotarebel]

Hi Christy. I must tell you how much you've helped me just from watching your videos and especially this one. For years, I've been transferring money into my savings account first and then paying everything else. This came from the mainstream recommended strategy to pay yourself first, then the bills. I was always so hesitant to use my 20k savings on credit card debt even though it was enough to cover most of it. But your videos have made me realize this is the best option. I just paid down my two highest balance credit cards and the third one I will pay off in about 1 or 2 months and I can restart my savings right away. I already moved every expense possible to this remaining card. This is a major game changer for me. I will be debt free in a couple of months. The strategy you are teaching is amazing and I'm sharing it with others. God Bless you, your family, and everyone who benefits from your teaching.

[datnohi]

😂 this video really woke me up, I have a nice savings account in the bank and a nice checking account but I was in a lot of credit card debt, I took 5k of my checking and got some credit cards paid off, I'm still in a lot of credit card debt but I'm paying that down fast, I stopped building up my bank account and now all my money goes towards paying these credit cards thank you again for guiding me in the right direction

[nspa]

Thank you soooo much for this vídeo, that was exactly my question. I can’t believe I’ve been having this savings account in the same bank I have a CC that is charging me 31% interest! 😳. Just for the sake of knowing I have money sitting there in case of an emergency, I am not dumb because I start looking for a solution to my debt when I found your videos. I want to change my mind, I’m going to do what I just learned and I’ll tell you all about it!
👏🏼👏🏼

On my own defense I have to say that, being a very poor child and working sooo hard to earn my money, it’s VERY hard to let go of savings, I promise, VERY HARD 😩

[tcsingleton]

I have been studying your videos and just applied velocity banking to my life! Thank you for your wisdom and demonstrations of financial literacy.

[benniebutler]

This needs to be taught in schools, great video.

[jamesw]

Holy smoke! I actually never thought about this! I'm going to pay off a credit card off at the end of this week merely by thinking different! THANK YOU!!!

[lilliandaff]

Like your mantra ''I make suggestions, you make the decisions".

[hannahviolette]

I only wish I'd heard this 35 years ago...

[reneelewis]

God bless you sis, and thank you for sharing your wisdom. Amen! ❤

[davidneels]

You are such a blessing. Thank you so much. I needed to hear this. God bless you!

[Diane-xtcz]

I love learning how to change my thinking! Knowledge is power. Thank you for these videos!👍

[sonjamccart]

I have just started watching your videos recently, and this was an eye-opener. When one approaches money emotionally, they tend to make decisions that don't make sense. I am in a similar situation as you have demonstrated and plan to march down to my CU tomorrow and discuss closing out my CD early and make sure I will only lose the interest - I will make up for the credit card interest savings in one month! I had a lot of financial hits in the last two years, including moving halfway across the US twice, so was hanging on to my savings for....emotional support?

I love your straightforward and common sense advice. Thank you for sharing so much of your real life knowledge and experience with us!

[alicehudson]

I really needed to hear this, I appreciate this! I told myself I would use my savings to pay off my debt but I wanted to do some research on it. sounded like I smart idea but then the thought of not having the money in my savings and it brought fear. living in the lack. I will be using my savings to pay down my debt and then I can start saving the money im using to pay down the debt, to save. you are amazing.

[eddieladson]

Thank you so much for your eye opening information. This has made a world of difference to me. I'm a subscriber and will continue to tune in and support in any way I can. Again, thank you.

[derrickjohnson]

You are awsome! I am following your lead! I have started my journey and paid off 5, 750 of debt in one month! Its crazy how this is working. I have over 50, 000 of credit in lines of credit because I also do real estate investing. I took my penfed LOC and made it personal and started your system. I am going to continue to use that same 10k in my personal life to roll off debt off! Thank you for these videos! Thank you!