Not only is it worth it, but when used correctly with 0% interest balance transfers, it's probably the most effective LOC.

@@Jesus-kt5dc agreed!

Well said, that is exactly why I put this together. There are so many beneficial methods to reduce and eliminate debt, but it's never a one shoe fits all. Hopefully videos like this will help educate and explain so people can make the best decisions for themselves and their situation. Thanks for watching!

Yes , correct ! You got it. Thanks for watching and i hope it was helpful. Knowledge is power.

Well said when you stated "using my income to pay my credit cards doesn't automatically turn the minimum payment into free or extra money." .... I think you said it better than I did ;-)

The method is only to save in interest

Exactly. I had a conversation with a friend who has seen me struggle with understanding and using more than on credit card (only opened more because it was suggested to help my utilization) and had to explain things sadly after I made mistakes that cost me credit and some of my score. Came out of hospital to find I'd racked up a bunch of debt as a result of a bad reaction to medicine and having black outs and poor impulse control. I'd started with great credit from years of medical debt.

To answer your first question: In the example I was critiquing you are correct, if the CC payment is not in their expense calculation and they have negative cash flow (meaning not enough money to cover there expenses) and they have no money to pay the CC bill. Not a good idea to miss a CC payment. Regarding your second question about negative cash flow (fancy way of saying "cannot pay the bills") there are only 3 options (1) decrease monthly expenses on items that you can such as entertainment or eating out in order to pay the remaining bills, or (2) get a monthly stream of income (like a second job, or depending on the credit card debt amount sell some stuff such as clothes or electronics to generate the money needed) to cover the expenses, or (3) borrow money to cover the expenses but that typically comes with costs (such as interest) and you are not solving the problem but adding to your debt. I guess technically a fourth option would be bankruptcy but let's just pretend that's not an option.

@@HackYourCreditCards Thank you you for the details in your reply! Very helpful!!! Thanks for all you are posting! I’m understanding the idea of leveraging and velocity banking!

​@@SassycatsoaperyEven though I read a comment that your money doesn't increase, it kind of does by grasping that money into a line, isn't removed from your economy, it's still in your control. A lot of people see money into a line as an expense (this is key). Which is what scares them to put income into a line. As for your question about how manage credit cards, it's called bill matching. Remember, money into a line isn't gone (this is key) (your question about CC). This allows you to use one dollar two times. If you have a credit card with 200 minimum payment and light bill for 200. You have to come up with 400 dollars, right? Wrong, you have to come up with 200. The other 200 become cash flow. So 200 dollars go into the credit card, then pay the 200 light bill. This bill matching satisfied both, credit card and expense. The other 200 is now left over if you originally had 400. So that's how you use one dollar twice. No need to get a second job. So if someone has multiple CC they can bill match the multiple credit cards. This method helps a lot of people go from negative cash flow to positive cash flow. Hope this helps, have a great day.

​@@SassycatsoaperyOne more thing before people start asking about interest. Does interest go up on the bill matching cards? Yes. Unless the cards are close to max it's nothing to worry about. Why? That's because you're lowering your primary card by a lot. Perfect example is Molly from AskMeHowIBudget she was stuck in the hamster wheel of payments and interest. She then created the bill matching system. She then was able to pay down her primary card with a 8,300 balance to 500 dollars. In 10 weeks. Not months, not years, but weeks. Have a great day.