Velocity Banking With a Credit Card

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Denzel Napoleon Rodriguez 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 purpose 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 Denzel Napoleon Rodriguez, 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 Denzel Napoleon Rodriguez

[B-Williebro]

I am a 36 yr old Accountant, have 4 children, and am up to my ears in debt. I'm just now hearing about this velocity banking concept. I've heard of the debt snowball, but never had enough cashflow to put my knowledge to use (kids are expensive). V.B. is on a whole other level. Once I can get a workable cashflow, I will use this method to get out of debt and finally start to thrive in life. Thanks for your channel!

[NeoM]

Just the distinction between simple and amortized interest is worth watching this video. You are a great teacher Denzel.

[iamOAKland]

Im 38 and i just now getting this after im in never taught me s**t about how debt works so thank you friend....you forever changed someones life.

[askdeville]

Florida is here. A few years too late but I'm here watching your old and new videos. Thanks for the education. I've learned so much in the last 5 days watching you. I can't get enough...

[NaturallyADifference]

I pay for everything with my credit cards. Rent, car, utilities. Im looking at this and I'm trying to figure it out. Love the content! Thank you

[thomasxxxxxx]

The same problem as in most VB videos. Confusing CC payments and expenses. These are apples and oranges, you cannot add them up or subtract them. Thus the math is flawed, expense figures and cash flow figures are wrong.
In this example one cannot say that one saves 110$ per month by paying down CC debt for CC2. That is not the way it works. And you cannot "kill over 11 000$ of debt in 9 months" with a $300 monthly surplus (16:36)

[gjalxndr]

Very good breakdown! I’ve been watching a lot of videos about velocity banking recently in order to get my debt eliminated and this is the best breakdown this far.

[denzelrodriguez]

Let me know what you guys think of this scenario and thank you again for being a loyal subscriber. I am growing everyday by doing this and it keeps me motivated when i see you guys engaged with my videos.

[khonsuba]

Just came across ur channel today n been stuck watching it all day. I'll dm u as soon as i get off this flight I'm about to board. Great stuff tho I'm super interested n and learned a bunch of financial information today. Jewels... ty

[zedmak]

You can actually pay rent and mortgage with a cc using Plastiq. Their fee is 2.85%…

[funtime-gqju]

I am lost when it come to financial understanding but you put in a way I can understand thank you i am new to channel will continue to watch keep it coming bro

[stephenhulbert]

9:02: If the monthly 'chunk' paid to the $10, 900 is $1, 875, and then you pay all the expenses of £1, 385 through the month, you end up having paid off $490 - all that makes sense. So at the start the balance is $10, 900, and at the end of month 1 it is $10, 900-$490 = $10, 410. If we repeat that in month 2 we drop by a further $490. $10, 410-$490 = $9, 920. Repeat that for 9 months and we get down to $6, 490. It isn't paid off at all. What did I miss?

[srserpicol]

Denzel, que pasa bro, I just got hipped to your videos, I see this one is over a year old, so I’m arriving late.., but better late them never... yes, this velocity banking is a lil complex, but I’ve been watching your videos on “repeat” until the light came on.. lol. Thanks for the messages. I’m gonna start “ velocitizing (If that ain’t a word, I just created a verb that brands this strategy... “Adelante”!!!

[tetyanacrute]

Hey Denzel, I have been watching all videos about this concept I could found on YouTube for about 2 years now. I started using this strategy myself after I understood the basics, but still have long way to go. So far your explanations are the easiest to understand. Thank you for what you do! My situation is complex for me even to analyze . I will need your help right after I refinance my third investment property with a bank, so I get rid of slavery of my private lender .

[contextualprecision]

It took me forever to realize my credit union officers a PLOC in the form of a loan, with a product called "Loanliner." If you apply for this "loan, " and are approved, they place the full balance into your checking or savings account as cash. If you "pay" the "loan, " the principle paid becomes a fund you can transfer back into your account as cash. So, instead of paying the $5, 000 loan in full, I pay it up to $0.01. The due date is almost two years from now, so it doesn't demand a mandatory monthly payment the way credit cards do. Had I known this, I'd have used those funds as a PLOC instead of a loan. Sometimes you have to see how the accounts function, because the bank will not always tell you how it works.

[ourspacesinc]

All this makes perfect sense! Why am I 35 years old and never heard of this method of taking care of personal finances? SMH

[dmorris]

Can we do a throw back and find out the numbers for these folks today to see what the strategy has done for them.

[Steven-rnbu]

Great job Denzel you are really helping a lot of folks with your message. Congrats on going from 200 - 5.7K subs in 7 months... talk about velocity!

[djaywise]

When the time comes, how does one determine how much $ to request on the LOC? I’ve seen about 10k in quite a few examples. Is there a reason for that?

[Who_God]

Denzel bro I love you for this bro I just had a son I’m trying to become financially responsible this is a blessing but what banks have the best line of credits