Velocity Banking with a credit card? I use my high interest, high minimum payment, high balance credit cards as my Velocity Banking debt pay off tools and it works. FAST!

Get the worksheets I use in my videos and download Case Studies with all the client notes. This link will take you there... https://payhip.com/AskMeHowIBudget

I don't qualify for a home equity line of credit or a personal line of credit at the moment so I had to modify the Velocity Banking strategy I learned online to best suit my needs.

My Money Tracker videos show how I use one of 7 credit cards to pay down debt quickly. My primary velocity banking credit card (selected because it had the highest minimum payment due) now acts as my primary checking account. Everything I spend each week is budgeted and accounted for through this one card. All income (that isn't going directly to a bill this week) goes on this credit card INSTEAD of sitting in my bank account doing nothing. By putting my income on this credit card, I bring down the balance, thus rapidly decreasing the interest I'm being charged.

If velocity is the measurement of how quickly water flows through a pipe, 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 (on my high balance credit cards, paying down that 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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