The Quickest Way to Pay Off Credit Card Debt - Velocity Banking Breakdown

In this video, I am discussing how to pay off a high credit card balance faster than normal. I am also discussing my version of velocity banking which will help you reduce your debt even faster.

➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
I'M ON MY JOURNEY TO #3000subscribers SO PLEASE DON'T FORGET TO SUBSCRIBE 🎦, LIKE 👍 & TURN ON NOTIFICATIONS 🔔!
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
🔴GET YOUR FREE DOWNLOAD OF MY TAX DEDUCTION LIST
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
🔴GET YOUR FREE DOWNLOAD OF THE 31-DAY MONEY CHALLENGE CALENDAR
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
💰CREDIT REPORT REVIEW CHECKLIST
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
💰MONEY MANAGEMENT BUNDLE
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
💰MY SPENDING TRACKER
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
💰BILL TRACKER
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
💰RETIREMENT PLANNING CHECKLIST:
🔸USE CODE YOUTUBE20 to get 20% off🔸
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
💰THE TAX PLANNING MASTERY GUIDE:
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
💰EMERGENCY FUND SAVINGS TRACKER:
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
💰DIY CREDIT REPAIR KIT:
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
💰BOOKKEEPING TO-DO LIST:
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
💰VISIT MY AMAZON STOREFRONT
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖

CONNECT WITH ME & GET MORE FREE FINANCIAL CONTENT EVERY WEEK

For Business Inquiries Please Email:

Subscribe to My YouTube Channel:
@The Financial Spotlight

Read My Latest Blog:

Follow Me on Facebook:

Follow Me on Instagram:

➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
💰IF YOU LIKE MY CONTENT AND WANT TO SUPPORT MY MISSION TO INSPIRE OTHERS TO GET TO KNOW THEIR MONEY BETTER, THEN I WOULD LOVE A CUP OF COFFEE:
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖

💰START YOUR POSHMARK STORE TODAY:

💰START SELLING YOUR PRODUCTS TODAY:

💰START SELLING YOUR PRODUCTS TODAY:

💰START SELLING YOUR PRODUCTS TODAY:

💰JOIN CHIME TODAY:

💰JOIN SELF TODAY:

💰GET YOUR CASHAPP ACCOUNT TODAY:

#creditpayoff #debtfreejourney #velocity
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
DISCLAIMER: This video is not sponsored. Any reviews or mentions of brands or products are my opinions. Links included in this description may be affiliate links. If you purchase a product with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel.

[herbertdaugherty]

This is the second time I’ve seen this type of recommendation and this makes sense if you stay disciplined. It doesn’t make sense to leave all your money in the bank when interest is so high on the credit card. I thought this was a great video. And yes, you can use a credit card for emergencies.

[narbelitolloren]

Great job explaining the Velocity Banking method using credit card as your line of credit. I used the method for over 3 years now and paid off all my credit cards and now working on paying off my mortgage. I have over $100K in credit limits to use for any investment if I want to but for right now working on paying off my current mortgage. Great method. You should show the whole process to the end when you pay off the debt for everyone to understand. Thanks again.

[alexzandra-fallonallen]

All your expenses should not all come out on one day on the card it’s usually overtime throughout the month so that means that when the company charges You for your card with interest the amount (minimum payment) would be lower because it looks like the balance is lower based on what was paid, (your expense money loaded to card). The bank gave me a credit limit increase by doing this in just a few months, and my credit score had improved)

[missysunshine]

Velocity banking DOES work. You just need to be disciplined and work the plan. ❤️

[vintageleaf]

Yes this is velocity banking. Debt tool: credit card. Thx!

[ask_why]

16:00 As long as that "good time" is calculated in the monthly expenses.

[debbiebridges]

Thanks I never thought to put my monthly expenses on my cards that make sense

[askmehowibudget]

You did a great job explaining velocity banking with a credit card! My only suggestion (not that you asked 🙂) is use a sans serif font for the numbers. The font is beautiful and I soooo love a beautiful font, but it's a little difficult to read for aging eyes.

[txhomeschoolmom]

Good morning 😊 thank you soooo much for the amazing explanation ... we're trying to attempt Velocity Banking... for some reason, it's not clicking and numbers are my thing 😢 do you have a video on how to handle Velocity banking whilst paying off multiple credit cards? Did I miss it? 😳 Thanks much 🌷

[catherinefoluso]

Thank you for sharing banking breakdown

[GadgetBeard]

You didn't take into consideration the interest that's charged monthly on the card

[christinelugo]

Thank you for sharing this video you made it simple to understand. Look forward to your videos blessing 🙏🙏😊😊

[SchnabelMcSchnabel]

Available balance on a card is not an emergency fund, or a fund of any kind.

[aprilwelsh]

I have a question about the closing date on the credit card. My understanding is that it’s important to pay attention to that date and have your balance be as low as possible right before that date because that’s when they calculate the interest going forward is that your understanding and what would you recommend? Thanks so much.

[danitanolan]

Hello. so should you take off the auto pays that are being taken out of your checking account before doing this?

[jadegrevious]

Hey, I have a question. I want to try velocity banking. I love your method, but I only want to use it to pay my rent. My rent is 1130 a month and my statement date close on the 6th…. Which I know you can’t spend any off the card until after the start close date. In my case I can start spending (pay my rent on the 7th)(The 1130 I put in c.c) but How do I do this without being late on my rent and also don’t using it to pay the rent before the 7th. I thank you in ada advance

[kthom]

i have watched several times and now i get it....but what connection am i missing when it comes to using a line of credit instead of your regular income. PLEASE help me make that connection...

[Christar]

Hello, do you have a video on how to velocity bank with $1000 ploc limit? Or can you run a scenario with that Ploc limit, $4800 expenses/debt (1400 expenses / 3400 debt) taking home $5500. Thanks

[smokeon]

This is hoping that the bank doesn’t drop your credit line to your new balance. That would change the whole velocity thing down to zero.

[honeywebb]

I found out today I had a $10 credit per phone with AT&T for debit from my checking account but I changed it to debit from my CC and now I only get a $5.00 credit per line