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Debt Snowball vs. Velocity Banking: Which Strategy Is Right for You?

Debt Snowball vs. velocity banking: in the quest for financial freedom and debt repayment, individuals often find themselves at a crossroads, deliberating between various strategies to tackle their outstanding balances. Two popular methods that frequently emerge in these discussions are the Debt Snowball and velocity banking. While both approaches aim… Read More »Debt Snowball vs. Velocity Banking: Which Strategy Is Right for You?

5 Common Mistakes to Avoid When Implementing Velocity Banking

Implementing velocity banking, a strategy gaining popularity in personal finance circles, offers a promising path to debt freedom and financial independence. However, like any financial technique, its success hinges on proper execution. Unfortunately, many individuals stumble due to common pitfalls that could have been easily avoided. In this article, we’ll… Read More »5 Common Mistakes to Avoid When Implementing Velocity Banking

Velocity Banking without a HELOC

Velocity banking without a HELOC is a useful concept. The “velocity debt reduction method,” is a financial strategy that aims to expedite debt payoff and achieve financial freedom without necessarily relying on a home equity line of credit (HELOC). While HELOCs are commonly associated with velocity banking, some individuals seek… Read More »Velocity Banking without a HELOC

What is velocity banking?

Velocity banking is a financial strategy aimed at accelerating the repayment of debt and building wealth through the strategic use of credit accounts, primarily a home equity line of credit (HELOC). The goal of velocity banking is to pay off debts more quickly and reduce interest costs, ultimately achieving financial… Read More »What is velocity banking?