I had negative cash flow, you saved me $750 per month! No need for another part time job. Thank you so much ❤
@sheilara0622
9 ай бұрын
@@jdrankwalter get another job, sell my house, use my available credit.
@SensSword
8 ай бұрын
That's the scary part. This plan works great assuming your income is 100% guaranteed or similar.
@CarrieFinley-g1m
10 күн бұрын
That’s awesome!! Congratulations!!!
@holberthomestead
9 ай бұрын
Im glad your videos came up in my feed. We don't have the credit to get a PLOC but we have the ability to use our CC's. Our income is weekly so we start our velocity journey this week! So excited for "DEBT NO MORE 2024" 🙌
@JonathanTorresjt
9 ай бұрын
Same here! i'm glad these videos pop up on my feeds. I'm going to be working on setting this up for myself, hope you do well!
@YouAREyoubeYou
5 ай бұрын
Any update?
@Moving2Win
20 күн бұрын
@@YouAREyoubeYouI agree, we need an update
@lifeordeathllc3022
9 ай бұрын
Now that she has given you the key to freedom, live within your means from this point forward.
@jessicasquire
9 ай бұрын
It all depends on the knowledge and strategies employed, but I've seen people make seven-figure profits in declining markets just as easily as they do in rising ones. There is no denying that some people have benefited significantly from the recession and crisis.
@Lemariecooper
9 ай бұрын
Because of this, I make an effort to consult a financial coach before making any investing decisions. Since the pandemic started, I've been trading with one since their entire business model revolves around trading long and short at the same time, implementing profit-driven strategies and lowering risk as a hedge against inescapable downtrends. Additionally, because they have access to insider information and analysis, it is practically impossible for them to do poorly. I earned more than $1.5 million after nearly three years of training with a coach..
@Erikkurilla01
9 ай бұрын
Although I won't claim to have gained or lost a fortune, I have genuinely been involved in all of these for a good while. Would you kindly recommend a professional with a range of investing possibilities? I eagerly anticipate your response as it is highly uncommon..
@Lemariecooper
9 ай бұрын
It's amusing that you brought that up since I completely understand. Look into *Jenny Pamogas Canaya,* she received a lot of coverage in 2020. I'm not sure if I can say this. My portfolio is also managed by her._
@Erikkurilla01
9 ай бұрын
I discovered Jenny’s website after conducting a search online. She has perfect credentials and exudes the aura of being a very smart woman.-
@carollhouston2380
9 ай бұрын
I don’t know how I found your channel, yet, I thank God I did. I’ve been consuming your videos day and all night to understand Vbanking. I will be working all the tools in my tool box to get out of debt. Thank you!
@monicahelton8926
7 ай бұрын
Same!! I have watch at least 15 videos in the last 2 days!! Amazing!
@astikennel
9 ай бұрын
I've never seen anyone so thrilled for others, you truly are Blessed and show it through providing relief to others by teaching an easier method!
@Diane-q2p
7 ай бұрын
Amen!!
@earthenergyhex
9 ай бұрын
For me, the biggest issue is having patience. I want it done now!!! haha
@kzulia13
9 ай бұрын
Same!!!!!!!!!!!!!
@genevafurtick145
9 ай бұрын
Mine too 😂
@YouAREyoubeYou
5 ай бұрын
Well I think that mentality is the very reason we have the debt in the first place. The universe is trying to teach us. I’m sure if you are like me you are saying to yourself (and possibly others) that you need more money-more freedom. All the while you haven’t been disciplined enough to create that environment or you possibly didn’t know how to. Well this may be the miracle we’ve all been asking for.❤
@compraconleslie
8 ай бұрын
I just discovered this channel two days ago and I’m ready to organize my finances in 2024! 🎉
@LumenSeeker
9 ай бұрын
You are an absolute saint for sharing this information!! Thank you so much for your help and hard work put the time into making these videos!
@rcoll60743
9 ай бұрын
I can't stress this enough, this concept is life changing! You can take control of your finances and get out of debt at the same time. Thank you Christy and God Bless you!
@VanntasticFinances
9 ай бұрын
@rcoll60743 Thank you so much!
@_thepromisesofYourFather
9 ай бұрын
You are amazingggggg! Thank you for sharing ❤ ..I am taking heed!! - Nena from MS.
@VashtiPerry
9 ай бұрын
I want to thank for these video so much.
@mr.mr.laidback9913
9 ай бұрын
I understand, n I don't understand
@johannaspeer1714
6 ай бұрын
I love what you are teaching about velocity banking and Heloc. How I can start doing this? I bank with a credit union. Are all HELOC work the same?
@davecregar1439
9 ай бұрын
I want to thank you for sharing. I have sent this onto my children as well. Excited about the draw period in a line of credit and hoping that it will help to create better financial habits when it comes to debt and credit. Again, thank you for sharing now everyone knows how they can do it too.
@ruthsnively7248
23 күн бұрын
Praise the Lord!!!!!!!! Thank you.
@lorimoore8642
9 ай бұрын
Watching from Jamestown, Ohio!!
@ydoIneedahandleutubey
9 ай бұрын
You changed my life! You are an angel to us all. Thank you for sharing this wisdom and magic - forever grateful ❤ Canada
@TinyVio-Lynn
9 ай бұрын
How do you pay a credit card with another credit card? How do you pay your mortgage with a credit card?
@patwilliams2563
7 ай бұрын
I GOT IT!!!!! It took a minute but I FINALLY got it!!! Thank you!!!
@Kathy-y7e
8 ай бұрын
So ... I recently started watching you and just moved $ from MM account to pay off last credit card debt of $3400. I'm debt free, have $10k in credit line, retirement account is gone, and looking at SS for monthly income approximately $1600/mo A few years ago I bought a home for $125k on a lake with fishing pier. My mortgage, taxes, insurance=$900/mo Can I do that again, having lost my home in Hurricane Harvey and filed for bankruptcy?
@vanessahill8263
9 ай бұрын
Thank you for your videos. I’ve been trying to find a bank that do PLOC but can’t find one, please advise me where I can go to get one.
@Jabezgirl57
9 ай бұрын
Credit Union
@CoachChimp
9 ай бұрын
I don’t think you use a PLOC-VB to Payoff a car loan that is financed at 2.9% with 23 months left. Ploc rate is 15%. You can’t win, even with $885 in CF. Please show me how VB solves the issue….my spreadsheet shows $175 in extra interest
@debnestman25
9 ай бұрын
❤I love your strategies. I m working on a spreadsheet. 🎉
@jibrilbuilder2668
9 ай бұрын
Thank you
@mrbentv1762
9 ай бұрын
thankyou for sharing
@ElaineSmyth-xi6mv
9 ай бұрын
I am Canadian and have been watching your videos. Do you think I can apply velocity banking in the same manner with a PLOC in Canada?
@peggyyu9752
5 ай бұрын
You are the best !! It is the mindset change and use the right tools. It is much more doable than those tools given by those so call gurus 😅
@RandomViewer362
9 ай бұрын
So today you double-counted the $267 shortfall by deducting it from the reduced payment and then applying that amount to the expenses. Month 1 expenses should be $5,957 because payments went down by the full amount of the reduced payments ($7,517-$1,560). I'll stick with your numbers for the rest of this though. Why didn't you include CC5 in the initial LOC paydown? The funding is available and that $29 monthly payment isn't paying down the full interest (you said 28%/yr.) each month resulting in your dreaded compound interest. Sticking to your example, the last payment you make on the CCs is in month 4, then you turn around seemingly forget about the remaining $36k on the 4 cards left and say she'll have it fully paid off in 4 months. That makes no sense, why stop paying off the cards, why just pay down the LOC? Even if you decided to just paydown the LOC at that point, the math you glossed over doesn't add up because you added the income for month 7 but not the interest and expenses, divided by the cashflow (net $1,200 paydown) and got about 4 months. The balance at the end of Month 7 should have been $10,985.90, or 9 more months at the net paydown of $1,200 each month. It'll take more than 16 months total to pay off the LOC completely and the person is still $36k in debt.
@jermagnum1553
9 ай бұрын
Great work again, have you had any examples of a PLOC and a HELOC maxed out? That would be a good one to see. Thank you
@DtlaDaisy
9 ай бұрын
I loooooovve a whiteboard moment.
@tysonb3568
5 ай бұрын
My only question is how do you pay rent off of a line of credit?
@brandnew2327
9 ай бұрын
This is AMAZING! I want to see my numbers on that bored. I have a maxed out 10k card but I want to use that to do this. I can't get a ploc just yet.
@nmsauditor1a950
9 ай бұрын
Good news! You don't need the PLOC to get started today. First, keep out the cash you need for things you can't pay with credit, rent, house, car note and other CC's. Every other dime of your pay goes immediately to pay on that card. Use the card throughout the month for all other expenses. At the end of the month, your cash flow that remains on the card has paid the balance down. Do this every month until the card is paid to zero. Start on the next card if you have one and pay it off. We started this way in 2017 and paid off a couple of cards. Our credit score shot up, and we eventually got a small LOC to pay down any remaining debt. Hope this helps!
@EarlPeters-v8u
9 ай бұрын
Velocity banking failed me! Hurt me more than ever!
@williammelgar7553
19 күн бұрын
Sign me up! Now who's going to give me that line of credit? Any takers?
@yrenecedeno2177
9 ай бұрын
I would like to get your help to fix my finance, teacher here, old lady traying to stay positive
@sonyabrown3739
7 ай бұрын
GM how are you I'm wondering how could you help me I'm drowning in debt and I don't trust anyone to help me I can't breathe could you please help me
@aprilm4423
8 ай бұрын
Hey, Christy, what's your other strategy that this can be combined with? I've been sorta binge watching for a while. I guess I missed it...? Help. Explain? Thanks! Love the way you think!!💞❤️
@marilynciccone
9 ай бұрын
This is amazing! Thank you Christy!! We've paid off so much debt within the last month using your method whereas before we were spinning our wheels just making payments. So silly. Thank you! Here's a question for you though, if you had 2 credit cards that were 12k and 2k which would you put your cheque into first? The larger one to bring down the balance faster, or the smaller one to get it off your plate first?
@gina77duc44
9 ай бұрын
It depends which one has higher interest rate. Payoff higher interest rate one first
@ministerfelichafisher2
9 ай бұрын
I would definitely say to pay off the $2K first because you will be able to remove the Monthly Payment from your Expenses-granting you more Cash Flow where you can increase your Monthly Payment on the $12k Card. With the extra funds going towards the $12k Card, you will pay off that card in no time. Keep up the good work!🙏🏽😇
@VanntasticFinances
9 ай бұрын
@marilynciccone Bless you! I would start with the highest monthly payment to gain that cash flow.
@rdc3643
4 ай бұрын
Could you clarify how money money goes in and out of the line of credit? I understand using the line of credit to pay off the loans, but I don't understand your cash flow going in, and coming out to pay bills and have money to spend
@jamesr824
9 ай бұрын
With that dept to income ratio, getting a PLOC will be very difficult.
@gina77duc44
9 ай бұрын
If you don’t qualify for a ploc, apply for a heloc
@gina77duc44
9 ай бұрын
Some banks do not check expenses, only credit score and paystubs
@jamesr824
9 ай бұрын
@@gina77duc44do you have a bank that you can recommend?
@tangysteinacher4568
9 ай бұрын
I’ve been watching your videos for awhile now. I do have a question, and it might have been already answered in a video that I haven’t seen. When you would have all your, what I call, the ‘monthly forever’payments,like your utilities, cable, subscription, etc., that kind of stuff, isn’t that stuff that normally doesn’t have interest to be paid on? So what my confusion is, is that you say to transfer all of your living expenses over either in a credit card, and have it paid through there, which might have an interest rate on it if it’s not a 0% interest for a balance transfer. I’m just trying to understand why a person would do that? Why you would take something that has no interest on it and lump it all into something that there is interest in along with other stuff that actually does have an interest rate in the monthly payment. TIA.😊
@TritonFrontier17
9 ай бұрын
Say this person does get a LOC of 15K magically and they buckle up and follow the plan and pay off there debt. In 6 months they will be right back at it overspending again and piling up debt. We need to stop spending what we dont have. Get on a budget. Cut up all your credit cards. Reduce all your expenses. Sell the BMW drive a an old used Ford. Pay off your debt. Start that emergancey fund. Build wealth.
@nmsauditor1a950
9 ай бұрын
Hey Dave Ramsey! You are the last person I expected to see in the comments of her videos 😂
@frogpedals
8 ай бұрын
I heard you can get a first position LOC on a house, is that a good idea?
@Florida2Philippines
9 ай бұрын
I don't see how someone with a negative cash flow qualified for a line a credit....??
@philipwells720
9 ай бұрын
Can you recommend banks that have PLOCs available in high limits and low rates? I can only find ones that have 1 or the other.
@carollhouston2380
9 ай бұрын
The card that will give cash rewards
@thechiefcornerstone9774
9 ай бұрын
Honest question: Since a simple interest loan is better than a amortized loan, how come there's little to no difference in a simple interest calculator and a mortgage calculator showing the chart for 30 years and paying the same interest?
@nmsauditor1a950
9 ай бұрын
Time! Run a $100k loan at 3% for 30 years and run a $100k loan at 25% for one year. Let me know which one of those you pay more interest on.This strategy accelerates the time in which you pay off the debt.. That shortened time factor is what really makes the difference in rates not really matter.
@jenu6508
9 ай бұрын
Do you have ideas for paying down credit cards with no line of credit?
@nmsauditor1a950
9 ай бұрын
Make a realistic budget and figure out your cash flow. Divide the balance on one of your cards by your cash flow, that will tell you about how many months it should take to pay it off. Keep out the cash you need for things you can't pay with credit, house note, car note, rent or other CC's. Every dime you make beyond what you had to keep out is paid to the credit card. Use that card throughout the month for all other expenses. What will remain on the card at the end of the month is your cash flow, which will pay down the balance from the previous month. Repeat every month until the card is paid off. Rinse and repeat with other cards if you have any. We started this way in 2017 and paid off several cards. Our credit scores shot up and we eventually got a small LOC to tackle the rest of our debt. Best of luck.
@thenappyewe
9 ай бұрын
Hi Vann. I’m a bit skeptical, but I’m willing to try it. I have about $12,000 in CC debit, but I have some wiggle room. But, I can only put a few big bills (water, heat, electric, phone, groceries) on the CC, but I’ll do it to see if this works. I will put the income I usually use for those bills into my CC, WITH my monthly minimum. I’ll only use it for bills and purchases I have made before from our checking account. Let’s see what happens. Am I doing this right? Let me know and blessings to you.
@VanntasticFinances
9 ай бұрын
@thenappyewe Sounds like you’ve got it! To avoid possible limit cuts you may want to make smaller payments throughout each week. Thanks for watching!
@eliskamiller7085
9 ай бұрын
Limit cuts ? Can you explain a little more
@RandomViewer362
9 ай бұрын
The part you are missing is that she puts all income not needed for bills on the credit account, that's the real benefit here. If you only put what you spend on the CC plus the minimum payment you won't get the added benefit of those additional payments towards the balance. The way you described will only get a few pennies each day between when you add money and when you make the payment.
@nmsauditor1a950
9 ай бұрын
I know everyone is different, but I can pay everything online with a credit card that is not credit itself. Realistically, the only two things I can't pay with a CC are my house note and my expense CC. You must have or create positive cash flow for thia strategy to work. Make a realistic budget and figure out your cash flow. Divide the balance on one of your cards by your cash flow, that will tell you about how many months it should take to pay it off. Keep out the cash you need for things you can't pay with credit, house note, car note, rent or other CC's. Every dime you make beyond what you had to keep out is paid to the credit card. Use that card throughout the month for all other expenses. What will remain on the card at the end of the month is your cash flow, which will pay down the balance from the previous month. Repeat every month until the card is paid off. Rinse and repeat with other cards if you have any. We started this way in 2017 and paid off several cards. Our credit scores shot up and we eventually got a small LOC to tackle the rest of our debt. Best of luck.
@syncere2u
9 ай бұрын
What's the best type of PLOC to get? Some have both a draw period and a repayment period (which may all come do in full at the end of that repayment period). Also, do you run the scenario on paper before applying for the PLOC? Last question, when applying for PLOC do you advise clients to get the maximum amount the bank or credit union will allow or do we "choose" our own PLOC amount to gain access too? Thanks.
@Breesan
9 ай бұрын
Would love to know as well!
@monyacormier3757
9 ай бұрын
Hi I have used Best egg for PLOC
@DarknessFalls29
9 ай бұрын
Whatever is best for you. Some banks and credit unions give you 2+ years for draw and longer for repayment. It just varies. I ran the scenario several times on paper and knew exactly what my DTI and absolute lowest score and which credit bureau they were going to use. I requested a modest amount, but they countered with a couple hundred less, which was nothing. Interest kinda high but way less than the variable rates on my credit cards.
@nmsauditor1a950
9 ай бұрын
@@DarknessFalls29high interest, low interest. While perhaps the rate does matter some in this strategy, it's not as much of a factor as one might think. The strategy is really about drastically accelerating debt payoff. You can pay a much higher rate for a much shorter time period and still come out ahead. This is the question I often ask people when discussing this strategy. Would you rather have a $100k loan at 3% for 30 years or a $100k loan at 25% for one year? You pay way less interest at the 25% rate than the 3% rate. Rate and time both must be taken into consideration.
@nmsauditor1a950
9 ай бұрын
Perhaps you know this already but many HELOC's have a 10 year draw with a 20 year payoff. I don't plan on getting to the payoff period. I will pay it to zero and ditch this HElOC before it ever gets that far. It is of no use to me as a loan. I will get another LOC after this one. After 6 years of using one, I will never be without. Matter of fact, I have a HELOC and BLOC now.
@perrissmith8809
9 ай бұрын
QUESTION: 1) do you have any videos on how this strategy works if there’s are expenses that do not allow cc for payment, such as rent? 2) I have had one credit card so far take my available credit down to what I owed, making it look like my cc was maxed out, therefore hitting my fico score significantly. Do you have any strategies on this occurrence ? If the line of credit just goes down out of nowhere like this, the cc wouldn’t have much use, right? My balance on that card was about 5000 and my limit was somewhere around 10,000. I just watched all my aprs go from 14-29.99% variable, not because I have ever been delinquent. I want out! Thank you so much for your time!
@nmsauditor1a950
9 ай бұрын
Easy, just hold out the dollars you need for the items you can't pay with a credit card. Put the rest against the balance of the card and use it for all expenses throughout the month. What is left against your previous months credit card balance is your monthly cash flow. Repeat the same process each and every month until your cash flow has paid the CC balance to zero. Now start on your next card and repeat. Hope that helps!
@perrissmith8809
9 ай бұрын
@@nmsauditor1a950 thank you!
@nmsauditor1a950
9 ай бұрын
You are welcome. I have been using this strategy since 2017. We started with a maxed out card and went from there. Credit scores shot up after paying off some credit cards. We then got a small HELOC $10k and tackled the remainder of our debt. We went from living pay check to paycheck to being able to buy some rental homes. Today we have a $65k HELOC, a $40k BLOC and around $150k worth of available credit card credit. I hardly use the credit cards. Feel free to ask any questions. I love to see people implement the strategy and get out of debt.
@perrissmith8809
9 ай бұрын
@@nmsauditor1a950 love it! I wish I could put that 4,300 of rent onto the card! Seems like it would happen faster with this large expense, I guess it still would, just takes longer I appreciate you, thanks again
@nmsauditor1a950
9 ай бұрын
Not really if you think about it. Your cash flow right now is the same whether you pay that ridiculous amount of rent with the card or cash. It is really just the cash flow that remains on the card at the end of the monthly cycle that does the trick. My wife hates that we charge our renters $1600/month for a 1250 sq. ft 3 bed 2 bath house. But, I am sure not lowering it!
@churchhymnsandpsalms
9 ай бұрын
Man, i love your channel. I still don’t quite understand it. We only have our mortgage as debt, but we don’t have monthly extra money in our budget…so I’m not sure if this would work for us…
@RANCHIN21
9 ай бұрын
It can, actually. If you can get a PLOC or HELOC, you can take large chunks out of your mortgage principle and reduce the amount of interest and overall payments throughout the life of the mortgage. She has a video in her playlist using the mortgage payoff in her example
@PaintworksProtectiveCoatings
9 ай бұрын
So what card do you recommend to use for paying debt and bills?
@churchhymnsandpsalms
9 ай бұрын
I tried to contact you, but there’s no way to write anything on your contact form. Is it worth it to do a 45 minute consult with you? The only debt we have is mortgage, but we’re using the last of our savings as monthly cashflow right now. We won’t be at positive monthly cashflow for 2 years. We owe $400 per month right now that we’re taking out of savings monthly. We just moved states and took a new job and it put us in a bad situation because of housing costs and interest rates. Thanks.
@georgiecalhoun498
9 ай бұрын
What if you are over limit on credit cards and you can not quilfy for PLOC?
@TritonFrontier17
9 ай бұрын
What Bank is giving this person a LOC of 15K with 30k+ in credit card debt?
@northeasternguy1010
9 ай бұрын
I cant get a ploc
@armandocabrera5174
7 ай бұрын
Why did you choose c1 over c2 and c4? No bashing just trying to figure out why I’d go with those. Maybe I missed something.
@Moving2Win
20 күн бұрын
She always goes after the credit card with the highest minimum payment, to gain the most cash flow.
@armandocabrera5174
19 күн бұрын
C2/C4 combined has nearly the same debt as C1 and frees up $643, $147 more than C1. You can even do C2/C3/ C5 and free up $644.
@Moving2Win
19 күн бұрын
@@armandocabrera5174 I understand and you're not wrong. Again, it's just the way Christy does things.
@maureenj8702
9 ай бұрын
I don't have PLOC, how do I go about paying the CC with velocity banking
@nmsauditor1a950
9 ай бұрын
Make a realistic budget and figure out your cash flow. Divide the balance on one of your cards by your cash flow, that will tell you about how many months it should take to pay it off. Keep out the cash you need for things you can't pay with credit, house note, car note, rent, or other CCs. Every dime you make beyond what you had to keep out is paid to the credit card. Use that card throughout the month for all other expenses. What will remain on the card at the end of the month is your cash flow, which will pay down the balance from the previous month. Repeat every month until the card is paid off. Rinse and repeat with other cards if you have any. We started this way in 2017 and paid off several cards. Our credit scores shot up, and we eventually got a small LOC to tackle the rest of our debt. Best of luck.
@eliskamiller7085
9 ай бұрын
How do I go about getting PLOC? I have looked on my banks website and do not find anything about PLOC .
@Peaceonearthrn
9 ай бұрын
Question. Is she making the other monthly payments on the other credit cards through the total expenses being deducted from the PLOC? Is she transferring those smaller payments back to the remaining credit cards from the PLOC? Thank you .
@tamiehuynh9620
8 ай бұрын
I don't see monthly payment for 15k heloc..little confuse
@Indigodreamsss
9 ай бұрын
Could she also be adding in more income (due to additional cash flow) to bring the LOC balance down and pay more towards the cards?
@jodihooyman5716
9 ай бұрын
Q: Can we use a 1000 cc to do this? We have 4200 income and negative cash flow.
@Jesus-kt5dc
9 ай бұрын
Unfortunately no, your LOC (your CC) 1K credit limit is too low. You might probably want to start paying credit expenses through your credit card. That way they will raise your limit. The only exception would be if you can't handle a CC, but since you're on here then you should be able to manage it. Have a great day.
@gina77duc44
9 ай бұрын
If you have that credit card for a while (more than 6 months) request an increase in the credit line. You can do it online. If they ask what is that for is because you want to make a big purchase. Never say is to pay debt. It doesn’t look good. Then you can try that strategy. God bless you
@jodihooyman5716
9 ай бұрын
@gina77duc44 unfortunately we have only had it for a month.
@sarahhutchins5436
9 ай бұрын
How do you get a line of credit?
@harm76
9 ай бұрын
Hi Ms Christy, Thank for the information, question tho. I've been using my CC with NFCU and putting all expenses there. I just got a HELOC, do I swap everything from CC line to the HELOC? rates are CC 12.9 and HELOC 9.8? Thank you Tony
@zacklarson4208
9 ай бұрын
If I have 2 credit cards with balances, should I focus on the one with the largest interest rate until it's paid off before working on the card with the lower interest rate? Or, should I split my income between both of them to work on paying them both off concurrently? Thanks!
@DonLee_II
9 ай бұрын
I am with the NC SECU and I don't believe they do lines of credit or does every bank do them and they just not telling me? also how high does your credit score have to be to have a line of credit?
@mariaisabelescamilla2313
9 ай бұрын
she mentions a 680 should be sufficient for a PLOC
@tomperrone7551
9 ай бұрын
Can i do this on our business loan. We owe $45,000.
@hectordolo
9 ай бұрын
I have searched online for PLOC lenders not many come up, some require having an account already with the lender? any suggestions to work with?
@phylliskhare
9 ай бұрын
I'm so ready to do this. I guess I just need to get organized and figure out how much for the heloc?
@michellekharris
9 ай бұрын
Aloha. I’m wondering if I need to get LOC to do this? I have a CC with $10K limit and another with same limit but $6K on it with 0% interest?? Please 🙏🏼 Help
@nmsauditor1a950
9 ай бұрын
Make a realistic budget and figure out your cash flow. Divide the balance on one of your cards by your cash flow, that will tell you about how many months it should take to pay it off. Keep out the cash you need for things you can't pay with credit, house note, car note, rent or other CC's. Every dime you make beyond what you had to keep out is paid to the credit card. Use that card throughout the month for all other expenses. What will remain on the card at the end of the month is your cash flow, which will pay down the balance from the previous month. Repeat every month until the card is paid off. Rinse and repeat with other cards if you have any. We started this way in 2017 and paid off several cards. Our credit scores shot up and we eventually got a small LOC to tackle the rest of our debt. Best of luck.
@loriowens5623
9 ай бұрын
I appreciate ur videos but I do not qualify for a heloc. I'm working on concentrating on one CC to pay off but it is very slow. Hopefully I can find how to work this quicker
@nmsauditor1a950
9 ай бұрын
Make a realistic budget and figure out your cash flow. Divide the balance on one of your cards by your cash flow, that will tell you about how many months it should take to pay it off. Keep out the cash you need for things you can't pay with credit, house note, car note, rent or other CC's. Every dime you make beyond what you had to keep out is paid to the credit card. Use that card throughout the month for all other expenses. What will remain on the card at the end of the month is your cash flow, which will pay down the balance from the previous month. Repeat every month until the card is paid off. Rinse and repeat with other cards if you have any. We started this way in 2017 and paid off several cards. Our credit scores shot up and we eventually got a small LOC to tackle the rest of our debt. Best of luck!!
@RaymondAlaba
9 ай бұрын
I have -cashflow but cannot get a Ploc. :(
@nmsauditor1a950
9 ай бұрын
If you have credit card debt, you already have a LOC...they are the same. Make a realistic budget and figure out your cash flow. Divide the balance on one of your cards by your cash flow, that will tell you about how many months it should take to pay it off. Keep out the cash you need for things you can't pay with credit, house note, car note, rent or other CC's. Every dime you make beyond what you had to keep out is paid to the credit card. Use that card throughout the month for all other expenses. What will remain on the card at the end of the month is your cash flow, which will pay down the balance from the previous month. Repeat every month until the card is paid off. Rinse and repeat with other cards if you have any. We started this way in 2017 and paid off several cards. Our credit scores shot up and we eventually got a small LOC to tackle the rest of our debt. Best of luck.
@tiffanyfisher1805
9 ай бұрын
I only work 8 months of the year (in landscaping) so when December hits, I'm basically out of a job until March/April. I learned to save all summer for winter but this stops me from making progress on my debt. Any ideas besides what I'm doing already? (I use my expenses AS my cc payments) and I use my winter months to catch up on rest and home organization that gets ignored while working full time all spring, summer and fall. 😢
@nmsauditor1a950
9 ай бұрын
I don't mean this in an ugly way but get a job in the winter. Most of us work year round and don't take the winter off to catch up from working spring, summer, and fall. Drive an Uber, work part-time serving in a restaurant... Anything really.
@dougfa3515
9 ай бұрын
I have a question... what kind of credit rating do you generally need to secure a PLOC? Is there anywhere specific it may be easier to secure one? I'm working on my credit rating but it's still not where it needs to be yet...
@mariaisabelescamilla2313
9 ай бұрын
she mentions a 680 should be sufficient. I got approved for 15k with a 720 score. Interest at 14% , California .
@jeremycopeland281
9 ай бұрын
It’s different, especially bank versus CU. It is for me anyway. Some PLOC don’t need to run them. Especially if they prequalify. If that makes sense
@dougfa3515
9 ай бұрын
@@mariaisabelescamilla2313 Cool... thanks for the response, Maria... I was curious what I should be working towards. Should be there early next year hopefully. Have a good weekend!
@dougfa3515
9 ай бұрын
@@jeremycopeland281 Yeah, that makes sense... thanks for the response, Jeremy. I need to find out if my credit union offers them. I know they offer HELOCs, but not sure about PLOC.
@thebestcompaniondogforyou3367
9 ай бұрын
Anyone who makes $7500/mo and can’t make ends meet, will ALWAYS BE POOR! The amount of $$$$ coming in is irrelevant It is the poor person mentality ghat dooms then
@Jesus-kt5dc
9 ай бұрын
I guess it depends on where you live. If you live in NYC it might be considered the salary to be able to live there.
@thebestcompaniondogforyou3367
9 ай бұрын
@@Jesus-kt5dc Touche!
@gina77duc44
9 ай бұрын
Your statement is unfair. There are many people who live in unaffordable areas. Sometimes is best to move out somewhere else where you can thrive financially
@thebestcompaniondogforyou3367
9 ай бұрын
@@gina77duc44 Everything is a choice. I am sure that someone earning $7500 isnt waiting tables. Whatever job skills they have is likely transferable to non libtard states. And you’re right I made the comment from my own perspective without considering alternate realities.
@nmsauditor1a950
9 ай бұрын
Also, there are people that change their financial mindset. They get on a budget and stick to it for years. They go from living paycheck to paycheck to being able to purchase rental properties. Ask me how I know!
@imakeitgreen3777
9 ай бұрын
Can I get a PLOC or HELOC without proving income. I was hoping to use just equity only.
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