22 Replies to “Velocity Banking Vs Debt Snowball”

  1. Hi Denzel, I'm in the process of applying for a personal line of credit, and I asked the bank all the questions that you mentioned in your video. They said yes to all the questions and the IR is 13.9. Can you tell me if the daily calculation is the same as simple interest calculation, and is checking line of credit the same as a personal line of credit?

  2. You are going about this all wrong, it's not vb vs debt snowballing. In actuality vb is a form of debt snowballing. You are adding new debt but transferring it to a different vehicle to snowball it down. Because what do you do with the cash flow when a debt is paid off? You snowball it on the next debt. God job and May God bless you.

  3. Love the idea but how do you make a payment on your mortgage with a credit card I also learned you cannot make a car payment using a credit card!
    Please explain if I'm understanding correct

  4. Was going to do this for my student loans but they don’t accept payments from credit cards anymore. I assume I’ll have to do a cash advance from the LOC instead.

  5. I did it Dave's way took forever and had no money to enjoy life you live to work and than everything goes to pay bill take forever plus this is a small debt lets take a bigger debt and see what work better and faster  plus help your credit doing velocity banking  Dave's  way just way to much work and very hard to do over a long period  of time

  6. I think i finally get it lol.. i have 10k in savings for emergency,,, what i love is i dont have to use any of it and i use the banks money to pay my bills. i sent you a form … I am kinda confused on how to contact you. looking forward for some help! Thank you

  7. Denzel, I really don’t know if it is accurate to say you don’t lose your cash flow. Yes you have a line of credit that you can access, but in order to use that cash you have to go back into debt? Isn’t that correct, or is there something I am missing? Obviously you lose the cash in the debt snowball method. I just think you lose it either way. I don’t think that having the ability to get into debt again is the same as still having your cash. I do love your videos, but I just have to put my two cents in. 😁. I hope I don’t appear to be being nitpicky. I am not looking for flaws or anything. I just think that other people might be wondering the same thing and really do think that it is not really factual.

  8. Love it as always! Learning so much from you. I also notice you are changing up a lot in your dressing. Please don’t go Wall Street slick on us too much. My college kids relate to you and is working the method and my 10 year old watches and keep me alerted so that is your audience also and I’m so happy you are relatable to so many demographic. Change up sometimes because growth is good but keep the Denzel essence and keep talking to these kids because where I can’t you have. Super Fans. Keep up the awesome work and I will be supporting the channel with one of your packages because you are necessary. Thanks

  9. Denzel, I have 2 CC’s. First one is almost a zero balance w available funds of $4500 and cash back rewards. The other CC has balance of $17K, w available funds of $9000 and reward points. Do I chunk from the zero balance card or the other?

  10. Hey Denzel. Just fyi. You take the 712.00 Plus the car note payment so on a 15k let's say that's 250. So total payment will be 912.00. So 16 months. Still faster via velocity but just make sure your adding the snowball correctly.

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