Velocity Banking FREES your CASH FLOW

Ask Me How I Budget
How do you take the cash flow from one credit card and apply it to another credit card if you can’t pay a credit card with a credit card? A. Velocity Banking! Velocity Banking frees your cash flow!

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If velocity is the measurement of how quickly water flows, then #Velocity Banking is the measurement of how quickly my money flows through my bank and out to areas where it can do the most good (like my high balance, high interest, high minimum due credit cards, paying down #debt fast).

NOTE: I am not a financial advisor and I do not provide professional financial advice; the information presented on this channel is presented for information and edutainment purposes only. Following any words, actions, or advice in this video or on this channel as professional financial advice is not intended and is the responsibility of the viewer, not the video creator. This is my personal journey for getting out of credit card debt.

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  1. Get the worksheets I use in my videos for FREE. Download a Case Study with all the client notes for only $7.99. This link will take you there…

    Want to show appreciation for the free worksheets? Visit my tip jar…

  2. This just changed the playing field. I absolutely love this was instead. I have two credit cards that I can do this on right now because they do not have interest right now. I can put those bills on those two cards and satisfy the monthly payment and have an additional $250 as cash flow….wow I just love your strategy

  3. That ladies and gentlemen is how you use 1 dollar twice. Congrats on breaking it down so clearly to people. Have a great day. 👍

  4. I always try to pay the amount on the credit card right after statement comes out instead of how you mentioned pay the amount on the 20th. If the money is sitting in bank account waiting on due dates, then it is losing the 25% interest apy that would have saved by paying on the card asap. My pay schedule is every 2 weeks and I make all payments scheduled ahead for those 2 weeks right after check clears the bank. Been doing the velocity banking way before came popular concept on youtube with basically cash back rewards maximizing. Another trick to buy time if lower income or higher exoenses for that month on bills can not pay with credit cards is that can do cash advance from credit cards and pay a 3-5% fee to actually have cash for emergency cash needed. People act scared of cash advances from credit cards but will go take a predatory loan to get by and paying back outrageous apr. Many interest rates have risen on credit cards so that the cash advance is the same as purchases now if look at the ststement. Paying the fee is not idea but if saves having to pay higher amount from a late fee on another bill, then as an emergency cash flow resolution it can help balance out.

  5. Molly, you explained this perfectly. I watch a few other VB channels, but THIS VIDEO explains it step by step concisely, so ppl can follow right along. I feel like a lot of channels say in one sentence what you just explained in this step by step video, and there are too many "gaps" or jumps that these other channels make that ppl will follow this line of thinking if they have never done this/thought of this. Heidi in Vancouver.

  6. How does this work if you have no cc debt. I have 1 student loan and i do have cc's but there all at a zero balance. Im still trying to wrap my head around this concept.

  7. Awesome demonstration! I think the key word here is prepay. I've just recently started figuring this out too. Thanks so much!

  8. This really is just debt consolidation. You still owe the money. Your “cash flow” only increases if you make more income or have less expenses. If you use the claimed increase in “cash flow” from this scenario for anything other than than paying down your debt, your not gaining anything. In fact you would be worse off. So you’re not really “freeing up” cash flow. You’re just decreasing the number of people you have to pay back.

  9. This is my first video of yours so I am not familiar with youe whole situation but I think you can go faster. First I hope you can get a PLoC as soon as possible because I is a great consolidation tool. Secondly the way I think about things I sounds like you should be looking to continue to consolidate debt not keep just it where it's at. Pay only minimum payments on the lower rate cards but put all of your spending there while focusing cashflow onto the highest rate. Overtime your debt will move to the lower rate so you can go faster. A PLoC and CC in the grace period pay off debt very fast.

  10. So you’re paying 24.74% on ALL of the balance above $198. EXTREMELY STUPID!!!! PLUS you have NO grace period on EVERY OTHER purchase!!!

  11. Please correct me if I'm wrong, but I don't think this makes sense. If you put the money for the bills onto the credit card, and then charge those bills, sure, you get the illusion of cash flow RIGHT NOW, but if you do this for a few months, your credit card bill is just going to increase because you're not addressing the interest…am I right?

  12. What if your available credit limit is too low to use to pay any of those bills that could be paid with a credit card?

  13. Thank you Molly. Another great video to explain this.

  14. I am a bit confused and would love to get out of debt can u help me with understanding how i can do mine plz how do i contact you if i can i mean so i tell you my situation ❤ love ur videos

  15. Please tell me if you got my email I sent you.

  16. I don’t have any monthly expenses/bills just stuck with cc debt trying to figure out how to use this method. Because I can’t use a cc to pay for another minimum payment on a credit card. Please explain if I can somehow work around this.

  17. I just found your channel. I have cc#1 with balance of $2680.00, pmt is $29.00, cc#$365.00 pmt $25, cc# $596 pmt $25. How can apply this stategy?

  18. I watch all your videos. I love your presentations. How do you make them? Do you use software to create your videos?

  19. Question ?? If you dont pay the interest for the month on that card the 114 , wont that pull it over limit once you pull all the money out of it for bills? I am trying to apply this method to my own bills , and havent gotten a good grip on the process yet … slowly getting there . Love your channel and the way you present the method !!!! keep up the great work

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