Brett Williams yes get a consistent cashflow going fill out a form get plugged into this community and I will be honored to serve you very soon. Let’s pay 💰 off all that debt fast

Heck, learn how to do it, make it successful and TEACH other's how to do it. That's what accountants should do.

Have you followed through with any debt payoff method over the last 4 years?

What if you're cash flow is super low?

@@InfiniteVelocityUSA Yes, I paid off two 5- year vehicle loans in less than 1.5 years using velocity banking and haven't had a car payment for the past few years.

Don't blame your parents most average people don't know this info and they probably didn't know either. We should just be sure to teach what we learn.

Go find your parents and slap the sh*t out of them.

34 right here man, same!!

Barbara Jordan Your right. Parents are not @ fault. Wealth is Taught!

Don't stop unless you over the 30 percent mark doing your statement date...

Pedro Santos I’m glad you get it now we have to make up for lost time so fill that form out and let’s get started with your personal finances

Another awesome video!! Thanks Denzel!

i'm really interested in getting a line of credit or heloc? my total monthly bills are 5714 my total income is 5940 monthly i have good credit . out of the monthly bills there's 3 credit cards that i'm paying 500 on one and 100 on another and 100 on another plus i have a mortgage total of 2325 . please help what do i do to help my situation ?

Gonna be on spotlight fill out my form that’s the first thing Second recommendation I have is to start with the credit cards those are debt weapons already then get the LOC or apply see what you get approved for and move forward. Before you apply watch my video on how to get a personal line of credit if you haven’t watched it already

Ive watched a lot of videos and your channel by far is the most informative, You've won me over as a subscriber. keep doing a great Job and you will surely be on the rise!

So what are the next steps. A month or so ago I filled out some info online and never heard back from you

BTW I think your channel will pull more revenues if you position yourself using the "financial" category rather than "education".

That would be great but that wasn't an option in the categories they have available

Thinking the same

Of weeks. Just owe 7k on credit card. Be done by October. Thanks Denzel

Sam Well that is awesome tell your friend I said thank you 🙏 when people see this concept for the first time they get blown away by how awesome it they go to tell everyone and they mama and they forget how crazy this strategy is and that it is too good to be true from first glance so I get why you felt that way. But here I am telling you just watch my videos and let it sink in

you divide the total amount of money going in the credit card each and every month

@@DenzelNapoleonRodriguez not sure I understand the explanation for this comment. Really want to though

So it worked for you Kim? I'm wanting to start this soon

Yes that’s correct I’ve done some videos on that.

Sam Sciascia ahaaaaaaa I like your thoughts you should watch some of my insurance videos. That is what I lead people too when paying off debt at a rapid rate

Those insurance investments are worthless.

Lola Cole yeah agreed if your investing in life insurance it’s worthless you will not get the returns you would with real estate investing or another source. Now if you use life insurance properly like a LOC then it’s a different conversation. The use of a thing changes everything

your right to many high-income scenarios so it's obvious that velocity banking would work but what about 90% of everyone else you know. Yes videos coming every day

Dama Foster awesome lets connect again I’ve been busy applying the things I learned from the conference. Do you have my info?

In 5-9 months interest costs goes to zero once debt hits zero costs from there you are just servicing the remaining balance this gives you permission to move on to the next debt if you have the right debt tool. This is a very old video of mine and my attempt to teach the strategy. The numbers were conservative numbers the client was actually cashflowing more so some details were left out. In some other comments I mention some of the mistakes that were made.

+Wes That’s awesome I didn’t know about that strategy but it sounds like velocity banking to me. I’m not gonna lie that would be tough to explain to everyone since velocity banking is already tough to explain lol.

What's the app called?

good job I like the progress your making

Thanks man I just started the channel but My latest videos has better audio. If you watch my older videos you'll learn about my mission and who I am targeting. I'm also presenting to middle school students which is why I talk slow.

His speech is perfect, better to understand than a fast talker.

Slower speech allows for easier video editing.

No don't talk faster

@@DenzelNapoleonRodriguez Please don't talk faster!!! All of the other presenters of this topic speak to fast, miss important steps, and it's more difficult trying to find where they're making errors. Thank you for this!!!!

I believe your correct this video is years old one of my first and I think I made an error on the numbers when explaining it. In real life for the client they ended up cash flowing more than what I illustrates so they got the results I mentioned. Now with regards to the cc payment and expenses what happens when I dump a majority of my income into the card I am canceling the interest in advance which makes more of payment principle instead of interest.

In this case the credit card #2 was at zero percent the first wasn’t

@@DenzelNapoleonRodriguez Thanks for the response. Yes, you do save on interest, agreed. However the concept of expenses and the concept of CC monthly payment are different concepts. As an example I could pay $1000 this month towards my CC but this would say nothing about expenses.. They could be zero, they could be $1000 or they could be all the way up to the CC limit (say $10 000)... If my monthly expenses were $10 000, negating the CC debt and payment would not reduce those expenses (except for the interest which at 24% on $10 000 would be $200 per month) Which is why it is important to look at actual expenses when doing a budget. Cancelling or negating a CC payment does NOT necessarily decrease expenses, it is a common mistake

@@thomasxxxxxx2345 where do you see my leaving out the credit card payment I shower $110 for one and $80 for the other payment. Each month that payment stays the same. The expense number that I’m using to apply the card is the separate. Are you saying that is incorrect

@@DenzelNapoleonRodriguez If I understood correctly you increase the monthly cash flow by 190$ (110 + 80) once you satisfy the CC monthly payment by putting the income on the CCs. This is not correct however because those we do not know what is behind this $190... if it were used to pay for something (e.g phone bill) then you cannot save it because the underlying expense is still there (how do you pay the phone bill?). In most cases, people use their credit cards to pay for recurring expenses and these do not go away. On the other hand IF the person no longer pays with their CC then this $190 (minus interest) would have been going towards reducing the CC debt already. Again, the CC payment should not be bundled with the cash flow as it is not an expense per se. The actual expense is whatever goods/Services the person purchased + interest incurred on their balance

It’s tough for me because I keep everyone anonymous. I have some updates for some I’ll work on doing more.

@@DenzelNapoleonRodriguez oh no you are doing enough and your work is wonderful. I was just curious. You know how they do that type of thing on TV specials. Thank you for your service

@@dmorris5458 yes love the before and after I’m going to work on it because it’s a really good idea 👍

Hello I appreciate your comment this is a very old video. I have improved much since then. I didn’t explain as good as I can now. This was a case study done 3 years ago and the numbers were a range if you look at the other number next to it 3,400 that is how there cashflow was over 300. Based on there track record that 2,750 was the absolute lowest they could make but it never happened when I worked with them.

Henry Gandy keep going I’m glad your getting it

I appreciate your opinion and this was a real life case study the client is doing great now. :) sometimes velocity banking doesn’t make sense and that’s ok I teach them Dave Ramsey 7 baby steps and debt snowball strategy to get out of debt.

Subscribe to my channel I have a whole archive of examples for you to see and learn from where I use credit cards often I will attach some videos below for you to see.watch this kzfaq.info/get/bejne/adtoad1zrqmopZ8.html kzfaq.info/get/bejne/e5ZkYKll1tC-gYE.html kzfaq.info/get/bejne/e82UYKaYuNXNqac.html

watch this kzfaq.info/get/bejne/n8yKZr1ex7qYl6M.html

That is awesome and a good plan look forward to working with you. If you have any questions regarding my service feel free to ask.

Your cash flow pays down the debt. In this scenario, every time this person gets paid, they dump their entire income into the credit card debt and then uses the card to pay his bills throughout the month. The cash flow stays in the card, thus paying it down every month until its paid off.

mick1135 you go off money going in not cashflow or else you can go back to debt snowball method

Sorry Denzel. Afraid I'm not clear on your response. Using the question above you would think you are paying down the chunk by the cashflow amount to et the chunk to zero before can repeat. You still have the monthly expense to take out of what you put in. Can you clarify how the balance of $7,440 is paid off?

Rick Stuart yeah I did not clarify this in the video that well. The amount of money going into the credit card is what matters most I’m going to have available space in the credit card or cards for this case. Since this is a real scenario there cashflow will not be consistent with my example because they will have more cashflow which will give them the ability to put more money in. I was doing my best to lowball the scenario to show how effective this strategy can be. It’s hard to explain in writing but if you keep watching more videos I hope it’ll click. Just remember it’s not just the cashflow that is eliminating the debt it’s the whole entire chunk as well in this case the 1,875

mick1135 the main objective is to avoid that interest from accruing after it expires on the big credit card

mick1135 please watch at 13minutes

Bobby Chapman no I mean what I say because in the first month that initial debt is paid off with my first chunk now the debt is revolving I’m not paying interest on. I’ll still use the card for another month or 2 but the debt is paid

Bobby Chapman also keep in mind the numbers I’m running are conservative he’s cashflow is more then 380

depends on how reliable that system is

this is true but once we start applying velocity banking your credit score means nothing now its a matter of how you use the credit. If I have a CC limit of 4k and i spend 2k a month and pay it back each and every month on it for 12 months technically I used 24k on the CC I can easily get an increase or apply for a LOC and my chances of getting approved are much higher

That is because the content is a scam

@@mrlackofsleep2009 No it's not.I just paid off $5,000 in 2 months.I like to listen to a lot of teacher's.That was the reason for my comment.I'm about to pay off my last Credit card in also 2 months.It's not a scam.Go back to sleep.

Lela Quiroz yes

Lela Quiroz this wouldn’t work for you first you have to learn to manage money properly first spend less than what you make have positive cashflow leftover then you can graduate into the higher level strategies of creative finance

typically after one year it doesn't hurt to request a credit line increase. Once you have a debt tool say a PLOC you can find out what the max credit limit is from that specific bank. Let's say it's 50k and you start off with 15k. After one year I would apply for an increase some banks will allow you to put the request amount in yourself others will just approve based on what they determine. I personally like to do healthy increases say 5k-10k with the PLOC's or based on your relationship with the bank you can ask further questions on how much to apply for. Doesn't hurt either way to make it a habit of regular yearly increases on the line of credit till you reach the limit.

Me either. I guess we keep watching videos till it clicks

The original debt is being paid off by the chunk which cuts off interest. You are correct I'm doing debt snowball on steroids and I do not lose my cashflow in the process do you see that. I do not have to wait once a month to make an extra payment my chunk or chunks did that for me.

@@DenzelNapoleonRodriguez Aww, so the lump sum is cutting the interest and you aren't losing your cash flow as it's still available to use from the weapon. ? 11:40. I'll have to watch your channel some more as I'm a new sub to your family and this is all new. I like your teaching approach and your pace of speech. A TBI in the Marine Corps has made me a little slow at times but I laugh it off. I'm poised very well to get a rental home in the future for some positive cash flow. I'm aiming for a $50k HELOC when my credit gets a little better. My home is paid off ($230k value) and I have zero debt with a $5500 "CC weapon". Because my debt is zero, my credit is rather low. Besides that, I'll try to figure out how a chunk payment (let it be from a CC or HELOC) paid from that weapon to the home or car is diminished by merely using my paycheck to pay my weapon. What isn't clicking is how that principle is paid down when I keep using the same weapon which maintains the balance month after month for expenses. I see how it cuts off interest, but how is the principal paid down from the original chunk payment and the only thing I can think of is the cash flow that would then be lost in a sense.

It took me 2 years to fully get it. It takes time nobody is taught this growing up and it’s a foreign concept. Give it time and keep learning the light bulb 💡 will eventually hit and then you’ll be happy

I recommend going to the playlist and you can watch the case studies in order from oldest to newest

@@DenzelNapoleonRodriguez I appreciate it. I’ll definitely keep doing my due diligence. I’m going to watch more videos to see if it click.