GCHVB
GCH Velocity Banking strategy leverages Lines of credit through the use of Debt Weapons as the primary account, enabling lump sum payments to pay off high interest loans and debts quickly.
The account holder deposits their income into a checking account which is then transferred to the debt weapon, expenses are paid from the debt weapon, and any remaining funds are used to maintain a low interest rate and make lump sum payments to pay off debts more efficiently, ultimately leading to increased credit score, improved credit offerings and our favorite, Increased "Cash Flow".
Traditional banking provides financial services like accepting deposits, issuing loans and various other products and services to individuals, businesses, and organizations. With traditional banking, an account holder deposits their monthly income into a checking account, pays expenses from the same account, and if any money remains, it stays available for them. This is referred to as "Cash Flow." The issue with this method is that the spent money becomes "Dead Money" and cannot be reused or recovered, leading to a stagnant cash flow and making it harder to pay off debts, which is where GCH Velocity Banking comes in with more effective solutions.
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Budget to Debt Relief to Financial Freedom - GCH Velocity Banking has a solution for you. Our comprehensive self-paced PDF course, do-it-yourself online access, and professional consultation options offer the support you need to take control of your finances and work towards a debt-free future. Let us help you transform your budget into a powerful tool for debt relief and financial success.
Velocity Banking with Credit Cards - is a financial strategy that involves leveraging the revolving capability of credit cards to help payoff high-interest debt. The process involves:
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Dumping monthly income into checking account.
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Using that income to fully pay off credit card balance.
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Creating a chart of all expenses, which we plan to pay using credit cards, including mortgage, car monthly payment, credit cards, and living expenses.
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Paying all expenses with our debt weapon credit card, effectively using the revolving credit to pay down the total amount due.
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Allowing all expenses to clear and using the remaining funds in our checking account to pay off the new credit card balance due.
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Noticing that by paying off the credit card in full, we avoid the monthly payment and generate additional cash flow, receiving point rewards and quickly increasing our credit score.
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Debt weapons can help increase cash flow in a few different ways:
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By focusing on paying off high-interest debts first, you can free up more cash flow each month by paying less in interest. This means more money available to you for other expenses or to use to pay off other debts.
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By using a debt weapon like a credit card or a personal line of credit, you can take advantage of the revolving capabilities of credit. This means that after you pay off your credit card balance, for example, you can use the card again to make purchases, effectively "revolving" the credit. By using the credit and paying it off in full each month, you can avoid paying interest and help to increase your cash flow.
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If you take advantage of credit card rewards or loyalty points, you can also increase cash flow through cashback or statement credit.
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Lastly, by leveraging your assets like 401k or Pension accounts you are actually paying yourself back, you are decreasing the amount of money going to institutions, in turn increasing your cash flow.
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