Increase Your Cash Flow $2500 a Month! How Did We Do It?
Vložit
- čas přidán 25. 08. 2024
- Interested in learning more? Did you know we give away one free coaching session? Sign up for yours now at www.FreeCoachin...
Join us in a new series, How Did We Do It, as Matthew Pillmore, President of VIP Financial Education, walks you through the Cash Flow Cruncher Spreadsheet. Just as he projected to help J & M increase their cash flow $2500 a month and get rid of all their debt, he can do this with you! Make sure you sign up for a free coaching session to talk with one of our financial experts today!
Want more actionable financial tips and tricks like this one? Check out our CZcams channel here / @vipfinancialed
Make sure to follow us on our social channels for more insight and industry news!
Facebook - / vipfinancialeducation
Twitter - / vipfinancialed
LinkedIn - / vipfinancialed
Instagram - / vipfinancialeducation
VIP Financial Education provides resources for educational purposes only. Our education is not a substitute for Legal, Tax, or Financial advice and results vary. VIP Financial Education encourages viewers to do their homework before taking any financial action. VIP Enterprises, LLC may from time to time earn commissions by recommending various products, services, and programs. Practice our education or don't at your own risk.
#IncreaseYourCashFlow #DebtWeapons #VIPFinancialEd
This was probably the most DETAILED video I have EVER seen you do... You dropped ALOT of golden nuggets.. Im soo rooting for them along the way watching the balances drop off.. lol
Lol I love it! Stay tuned for more videos like this!
Matt you are a Genius at work. A few years ago I turned a 30 year mortgage into a 7 year payoff, saved thousands of $$ without changing monthly outflow or in at all. but you really have taken this up another level. i am very interested in this. Thank you!
Roger Schanz, thanks for the compliment and for your viewership. Great job on the mortgage payoff.
I'm excited to get started, because we now have literally zero non-mortgage debt, and just 2 houses to pay off, one of these is an investment. The more I analyze these videos, the more i see eliminating all my mortgage debts in months instead of years! Then the real fun begins with acquiring real estate assets, and having my cash flow grow even more. I love it!
Sounds great, Jules. We are happy to help you fast track!
Matt is the man! I'm a paying member with only a couple of coaching sessions under my belt. I haven't had this much peace of mind about my financial future in my entire adult life.
Bradford Herrell, we're going to crush it together.
Awesome video! I like the idea of creating a target rate, to help determine the "most expensive" debt. Also the approach of freeing up cashflow is far more motivating than paying off debt. Increasing cashflow is a great metric once debt is paid off will inspire the right kind of investing!
Exactly! Thanks for watching!
I think I just had an epiphany. I dont have nearly the assets these people have but I can use this same technique to quickly pay off the 2 little credit cards I have. Mind blow
lol, great to hear Nico!
Be sure to keep us posted when it happens, we want to hear about the successes!
Great information for us financially challenged old folks!
You should SELL a book which is a PUZZLE book to OPTIMIZE your cash flow just like this. I.E., have a notepad of highest $$$ via balance / percentage. This is both productive for consumers AND you can sell the template online.
Great suggestion! We did create the 'Debt Killers' board game, however it's not currently on the market.
Would love to see more of these!
You got it!
This makes me excited to do math. I hated math. I love it now
We are so pleased we could play a role in your growth. Stay tuned, Devon!
I love your videos and have been accumulating my own D.W"s since first watching! My only thing is that I can't understand or have seen in your video is you do not calculate the fairly high interest on a personal line of credit each month (minimum payment)= interest on the money you parking in. So that interest = a deduction in (cash flow).
Amazing! Thanks for sharing!
Of course! Thanks for watching!
Are debts *really* paid off if you're just using a "debt weapon" to eliminate it? You still have to pay back the debt weapon. Or is the point mainly to free up cash flow to use for other things that would generate additional revenue? Spending money to make money?
Matt Hutchinson, we're using debt weapons to expedite the repayment of the overall debts. The point is to free up cash flow and reduce interest expenses so you can repay debts as quickly as possible.
@@VIPFinancialEd Thank you. I have been enjoying watching your videos and trying to soak up the information you are offering. If you are not used to this concept, like me, it does help to re-watch some of your material 👍.
If you apply an entire months paycheck against a debt weapon, how are to paying your normal, reoccurring bills? I don’t see this being addressed in this example???
@@ChipBailey You pay your bills using the same debt weapon. Eg weapon is a line of $20,000. Income is $5,000 a month. Expenses $2,000 a month. Take out $15,000 to pay a debt. Add in $5,000 of income (now, $10,000 balance). Borrow $3000 for expenses. (Now $13,000 balance). Add $5,000 income. (Now $,8,000 balance. Borrow $3000. (Now $11,000). Add $5,000. (Now $6,000). Etc...
This is good stuff man. It's organized with using time and money doing the math pays dividends!
Much appreciated! More case studies to come soon so stay tuned!
I need to be dept free love tour content and how you explain stuff!!
Thanks again. We're glad you found this and look forward to chatting during your free coaching session.
Thanks for sharing, very informative
Thanks for tuning in Dinahmite!
Are you doing cash advances from credit cards. I know mortgages can't be paid with credit cards directly.
Think he’s using a HELOC in this example. But you can also use personal lines of credit, business lines of credit, secured lines of credit (eg against your stocks), full cash life insurance policies, as well as credit cards.
I've always wondered how much time between acquiring debt weapon should you apply for a new one?
I do “application sprees” every 6 months (twice a year). In each spree, I apply for roughly 6-12 new accounts within a 10 day period.
Fantastic! and you haven't even tweeked their monthly budget expenses to potentially add more savings ('cash flow').
That's correct, Clara Bartha. We call that, plugging the leaks. Thanks for watching and commenting.
Can anyone reccomend a video where specific debt weapons are mentioned?
B, I've listed some specific debt weapons videos below for your viewing pleasure. Hope this helps and thanks for watching!
czcams.com/video/moB9DBwLDFE/video.html
czcams.com/video/ANHhH0ECUZI/video.html
czcams.com/video/Jar6nTv9OQo/video.html
Debra Mclane
All great videos. Can't wait to get more ways to get my finances in order. Will be talking to you in Oct.
Looking forward to talking with you then!!
I can definitely get free of debt with this method.
Zonia Castillo, that's great to hear. Keep us posted and good luck.
What banks allow pay check parking?
Aguevo Pelon, all of them as it's more a function of how to properly manage your money that helps you more than it helps the banks. Thanks for watching!
Amazing!
I would like to know how did y'all generate debt weapons? Is the credit score crucial to applying for big loans and use that as a debt weapon?
Credit score does play a big role in accessing and utilizing debt weapons. The only way we can help you with accessing and utilizing debt weapons is by forming a coaching relationship with you and digging deep into your entire financial picture. This is critical when utilizing debt weapons because like an actual weapon, they can be damaging if used incorrectly. I'd love to chat with you about your financial situation and determine if our coaching would be a good fit for you. If you would like to look into that, we offer a free coaching session so you can see the value for yourself prior to making any commitments. To schedule a free session, please visit www.FreeCoachingCalendar.com
I hope to talk with you soon!
Now it all makes sense! Thanks for using a real world example. Unfortunately, all I have is a mortgage so I'll have to find family or friends that will let me dig into their finances so I can practice these steps..
Wonderful, Ryan. Thanks for checking out the channel!
You can create your own debt! Borrow $2000, buy some stock, pay it off. Now you have an appreciating asset making money while you practice.
Please tell what is this calculator spreadsheet you are using. Thanks
Farida Sultana, this is our cash flow cruncher where you can download for free at our website: www.vipfinancialeducation.com. Thanks for watching!
I'm very interested
Hi Tim, you can sign up for a free coaching session at www.freecoachingcalendar.com
Keep this up
This is awesome😎
Thanks CallMeMrsSmith 007! Love the screen-name btw!
VIPFinancialEd lol, thanks👌
Awesome!
You look nice in this one
Thanks, Jennifer Oviawe.
Is there a way we can get access to this spreadsheet?
The spreadsheet is available for free at www.CashFlowCruncher.com
Thanks for watching the video!
I want to be debt free!
You can! Just sign up for a free coaching session at www.freecoachingcalendar.com
Hi I’m blind can you help me? 2 yrs ago I filed chapter 7
I see your comment from a year ago. Are you implementing any of these strategies and having any success? I also want to be debt free.
Marry rich!
How I become an affiliate?
Hello Paul T, due to overwhelming traffic to our education and coaching, we are only allowing active/previous coaching members to become paid affiliates.
I get "paycheck" parking ...but what is "rent check" . Is that rental income?
Justin Heitter, yes. It's the same thing as paycheck parking, but you'll use the rent to park against the LOC.
Copy that sir I'm diving deep into your content. (I have another account on my laptop I post from -your move bro. Which is my (failing) t shirt business.- it might be able to get a business loan through that?)I've filled out my cash flow cruncher and am about to buy my first duplex. Credit 630 and climbing.
So, you are Your Move Bro? Congrats on the duplex. Are you going to live in one side and rent the other? Keep working on that credit score, it definitely helps keep those interest expenses down so you can climb out of debt quickly.
Yes . Not only am I living in one side and renting out the other. But I'm getting roommates on my side as well. Get that cash flow son!
Justin Heitter, that's awesome. You'll be out of debt quickly if you're disciplined with your additional cash flow. Great job.
Your website is not working. I am unable to make an appointment.
What happened when you tried? Please email ContactUs@VIPFinanicialEducation.com with your contact information and we will reach out to assist. Thanks Chuck!
VIPFinancialEd Something went wrong please try again error regardless of option chosen to get an appt
Thank you, we will look into it. In the meantime, send us an email and we'll reach out to help get you scheduled, friend.
I struggle to understand why you would utilize a "debt weapon" to pay down your mortgage - especially in today's low interest environment. You're using a higher interest rate vehicle to pay off a lower interest mortgage. It would make more sense to simply apply the free cash flow directly to the mortgage principal maximizing the desired effect of reducing interest paid to the mortgage lender. The method you suggest is adding additional interest paid to the grantor of your so called "debt weapon".
Ricardo del Cid, your question is valid...and directly addressed in many of our video trainings.
There are MANY ways to pay down debts more quickly than the on time every month approach most borrowers follow.
On one hand the numbers are different, but not by much.
When you calculate the difference, to the penny, it's hundreds to thousands different.
However, ask 1000 people if they are aware of how to apply extra money each month to a mortgage and pay it off early to save interest. 1000 people will say yes.
Yet, of the thousands of people we have met with over the years, how many were already? So because we as humans are the variable in an otherwise mathematically perfect system, there are both psychological AND financial benefits behind the more strategic liquidity of Debt Weapons. Psychologically this specific approach is easy to stay consistent with. More structured, organized, and precise. Try it and see!
Financially, the vehicles we call Debt Weapons have a great deal of potential. Literally both sides of the balance sheet can be simultaneously optimized...all the while increasing safety. Growing your assets by leveraging other people's money strategically following the "Rich Dad" concept of income producing asset acquisition, then consciously paying down the leverage exponentially faster is simply logical. But surprisingly not common and for many quite difficult. All we do is demonstrate new strategies to bank far more aggressively without losing liquidity to invest and grow multiple income streams. Without a 'dog in the race' we aren't in favor of one approach vs. another. Debating over one eating plan being healthier over or another healthier plan isn't the point. We are fighting against the critical mass that do NOTHING.
I saw an educator once demonstrate a time management example where he had 3 clear vases. 1 had fist sized stones. The other had beach sand. He poured the sand into the vase then attempted to insert the rocks. They wouldn't fit as the sand consumed too much space. He alternated and poured the sand in after the big rocks and everything fit plus room. Point I learned and valued was focus on the big rocks. I suppose this is where the work smart not hard concept is born.
Step one...take action. Step two, polish and refine the action for optimal results.
Thanks again for the question!!
I suppose that's assuming though that firstly, one is using a higher interest source of debt to pay the low interest mortgage which I believe here it is not the case, and secondly, the faster the principle is paid IS essentially the debt weapon due to the inherent longer TERM of the mortgage, making it inefficient to await the expiration of the long term. Anyways, that's how I understood it Ricardo
Good question but I believe the answer is that the debt weapons are not directly linked to the mortgage in case something crazy happened with the client and they went bankrupt or lost a job and that could be written off unlike the home. The other reason I believe is the that debt weapons are 100% accessible at anytime so again if the client had to change gears quickly on this strategy they could access the money they paid down. Also most mortgages only allow you to pay down a certain amount with a big penalty that that has to be addressed as well. This is only in regards to the the mortgage part being paid down as that is the lower rate than the debt weapons he is talking about. The question I don't see answered in here is how much interest you spend paying on the debt weapons at the same time.
Do I need to be in your program in order to get access to the CASH FLOW CRUNCHER?
Meneeda, you don't need to be in the program. You can access the cash flow cruncher by registering at www.cashflowcruncher.com or by signing up for your free coaching session in the link below the video. Thank you for your viewership and we'd love to have you in our program.
So paying off most of your debts increases your net cash flow. Shocking. But how did they increase their cash flow from 500 to 4000?
Did you watch the whole video?
For real. Think the point of the video is to highlight the speed at which these debts get paid off using this method (as well as the savings). Which part was confusing?
Holy fuck! You’ve got my sub. Value 💣 s for days I mean years. Thank you!
Thanks, John Anderson. Happy to have your on board.
@@VIPFinancialEd Thank you sir! Been combing through your videos and love it all.
Had a quick question for you:
Do you have to get Business type of Debt Weapons or are their personal ones as well - Besides HELOC?
I ask because I've noticed a lot in the deep dives you mention BLOC, BCC etc, what if I don't have a house or a business would I be able to obtain or qualify for any other types of debt weapons?
Again love the content, keep crushing it!
Thanks,
John
I really love dave ramsey teaching but this option ouch...mind boggling
Dave Ramsey is sooooooooooo slow! And painful. Since you’re always directing all of your income into paying off debt, you’re always broke. And have to live broke. So beans & rice for years. With velocity banking, you’re directing all your income back into revolving lines of credit, which means you always have access to your money. And don’t have to give up 10 years of enjoying your life so you can “enjoy it later”. With this method, you can enjoy it now AND later.