How The Velocity Banking Method Helped This Couple Pay Off Debt

The His and Her Money Show

Talaat and Tai McNeely

Business, Investing

4.9 • 1.2K Ratings

🗓️ 23 January 2020

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The debt-free story of James and Cathy isn't your typical "we saved money and hustled to get out of debt " story.

It's a bit more complicated than that.

It's also a debt-busting strategy that isn't for the weak.

After paying off close to $60,000 in loans, credit cards, and student loans, they switched to a high-paying strategy known as the Velocity Banking to pay off their house early.

Tune in if you are looking for a non-traditional way to pay off debt along with the practical steps you need to make sure you stay on the "paid" side of credit.

Cathy St. Louis is a Mom and blogger who works from home and blogs about simplicity and a debt-free lifestyle. You can follow her and James' journey on their website and Instagram.

WHAT YOU WILL LEARN

What caused James and Cathy to make the shift to debt crushers
Why Catchy and James decided to trade in a car to save on expenses and continue their debt journey
How to manage debt when one partner is a big spender
Why ego is a big part of the issue with overspender
Getting a good deal on your car trade-in
Building a sales cushion while paying off debt
Using bigger sums of money (like a bonus or tax refund) to pay off debt
Cathy and James' unique strategy of using the HELOC to pay off a debt off fast
Why James and Cathy chose to use the Velocity Banking method in the first place
How they invested in Velocity Banking without getting

RESOURCES MENTIONED

THANKS FOR LISTENING!

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Transcript

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0:00.0	This is the His and Her Money Show, where we show you how to have better money, be a better couple, and live a better life.
0:11.0	Now, here are your hosts, Tallit and Ty McNeely.
0:15.0	Welcome back to another fantastic edition of the His and Her Money show.
0:19.0	I'm Taly. And I'm Ty and we're from His and Her Money.com where we're teaching you how to have better money.
0:24.2	Become a better couple.
0:25.2	And live a better life.
0:26.4	Hey guys, we are so glad to have you here with us today.
0:30.7	Hey, do us a favor.
0:32.2	If you love us and you love the work that we do could you leave us a
0:36.7	review no matter what platform you're currently listening to this episode on if you
0:41.2	leave us an honest review it will help us to become more visible
0:44.7	to more people and at the end of the day we just want to help as many people as possible and
0:49.2	you can help us help them by leaving us a review and don't forget to hit that subscribe button
0:55.2	because we're gonna keep bringing you the heat week after week. We don't want you to
0:59.5	miss not one episode so hit that subscribe button so that every time we drop a new
1:04.4	episode you will be notified. Speaking of new episodes you are going to love
1:10.2	today's episode we have a fantastic debt free story lined up for you. We're going to be
1:18.2	talking with a young couple by the name of James and Kathy about their journey to debt freedom.
1:23.4	Yeah, you all, this is a good one.
1:26.0	They're going to be teaching you guys how they paid off their mortgage in 28 months,
1:31.0	but they did it a little bit differently
1:33.1	than you guys have probably heard about.
	...

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