TLDR By implementing the velocity banking strategy, you can pay off your mortgage in a shorter amount of time and save a significant amount of money in interest, ultimately increasing your cash flow.
Key insights
💰The key to velocity banking is to put your debt and cash flow in the right places to maximize your financial strategy.
💳There are multiple ways to pay off a mortgage, and the standard way taught by banks may not always be the most efficient.
💸Making extra principal payments on your mortgage can save you money in interest, but it may not be easily accessible if you need it for unexpected expenses.
💰By changing the way you handle your cash flow, you can pay off your mortgage in a shorter time and save a significant amount in interest.
💰Learning basic velocity banking can result in a return on investment of 7600, which is higher than any other investment.
💸Increasing your income by just finding one person a month can have a significant impact on your financial situation.
💰Paying off the mortgage in 7 years could save you $290,000 and increase your cash flow, instead of giving it to the banks.
Timestamped summary
💰00:00 Input your debt and cash flow into the green boxes to calculate your velocity banking strategy.
💰01:04 Your net income is the money left over after expenses, and there are four ways to pay off your mortgage, including the standard 30-year plan.
💸01:43 Paying extra principal on your mortgage can save you money in interest, but it can also limit your cash flow and create financial problems if you need the extra money back.
💰02:34 Change the way you handle your cash flow to pay off your mortgage in 13.25 years and save $155,000 in interest, or take an advanced class to pay it off in 11.75 years and save $190,000 in interest.
💰03:08 By learning velocity banking, your cash flow can dramatically increase, with a potential return on investment of $7600 by saving on interest.
💰03:54 Lower expenses by $300/month and increase income by $1000/month to save $169,000 instead of $155,000.
💰05:02 Pay off your mortgage in 7 years and save $290,000 with advanced banking velocity, increasing your cash flow.
📊05:54 Interest rate doesn’t matter much, cash flow does; results vary but gives a good idea of potential.
FAQs (Frequently Asked Questions)
What is a Velocity Banking Calculator and how can it help with loan payments?
A Velocity Banking Calculator helps individuals determine how much faster they can pay off their loans by using a strategy known as Velocity Banking.
By inputting details like the initial amount and years, users can see the impact of accelerated payments on their loan payoff timeline.
These calculators are useful tools to visualize the benefits of Velocity Banking in paying off debts efficiently.
To explore this further, you can check out various online resources like Greater Foundations [1], Truth Concepts [4], and ExcelGuider [5].
What is the purpose of the Velocity Banking Calculator Demo?
The purpose of the Velocity Banking Calculator Demo is to show the power of accelerated payments and how they can help you pay off your loan faster.
What is a Velocity Banking Calculator in Excel?
A Velocity Banking Calculator in Excel is a tool that helps individuals determine the impact of accelerated payments on their loans, such as mortgages or credit cards.
It allows users to input their loan details, interest rates, and extra payments to see how much faster they can pay off their debt.
Excel templates like this can assist in organizing data efficiently and analyzing different scenarios to optimize debt repayment [2].
Where can one find an Excel spreadsheet for Velocity Banking calculations?
You can find an Excel spreadsheet for Velocity Banking calculations on websites like Etsy and Reddit.