hi I’m Christy van with fantastic Finances and I’m sitting here actually working on what my next CashNews.co is going to talk about so as I’m
researching what our Finance teachers teaching today I am absolutely angry and upset at what I read the gurus of today are teaching people when it comes to their href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance
under control so I have to read this because I’m laughing out loud uh in an angry way because I have been in a situation of paycheck to paycheck okay and so when I see okay what does a professional tell me to do what does the financial expert of 2024 tell me to do to help me with my paycheck
to paycheck status that I’m currently living in and I am going to read you what they are saying because it’s angering they’re not giving Solutions they’re telling us the same thing that we’ve been hearing since the 1960s on how do we get out of Debt
well okay so here we go I’m not going to say any names you can figure it out for yourself because I’m not trying to bash anyone this is about what are you really going to do to get the financial help that you need so here’s the answers so for one Guru we’re talking about a
set of 10 Money Rules that’s going to help you keep your Finances on track number one have a oneyear emergency fund a oneyear emergency fund are you kidding me are you
kidding me I can’t get to the next paycheck and your number one rule is have a one-year emergency fund that is laughable I mean where are we going to get the money to have the oneyear emergency fund but let’s just move on number two save 10% invest 20% again I’m not able to get to
the next paycheck how am I going to be saving 10% plus putting 20% into an investment let’s move on what’s number three have the cash for large expenses well my money problems are cured since I have read those three things I now know what I need to do to get my href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance
paycheck because she doesn’t have a paycheck so I just asked her I’m like okay so um if I told you the way for you to get your Finances in order is to number one
have a oneyear emergency fund set up ready to go do you know what her answer was well I hope I don’t have any emergencies right exactly straight from the mouth of a child that’s exactly what I would think if I were still paycheck to paycheck and somebody told me the answer to my money
problems is to have a one-year emergency fund that is ludicrous it’s angering because there’s no answers in these three suggestions and the thing being these are top gurus in the United States of America saying this stuff let’s move to another Guru okay number number one live
below your means well duh we’re already living below our means because we’re paycheck to paycheck I know that I should not be spending money on extra things because guess what I’m broke I’m broke after paying my Necessities I have to pay for my place to live I have to either
have my mortgage payment every month or my rent I have to pay the utility so I can have water and lights and I may have a car payment because I have to have a car to get to and from work I don’t call that living above your means if those three things alone forget the food and the gas for the
car are taking all of my money to where I’m paycheck to paycheck so stop telling me to live below my means I was already there I was sometimes in the negative because I had the car payments right as you may be it angers me to see these gurus telling us what not to do that we already know that
we’re not to do number two stop spending on the unnecessary things hello we already know this we know that we need to cut back on our spending when we’re not making enough money to pay our bills we know this right and maybe we don’t want to eat beans and rice maybe maybe we
don’t want to pick up a second job unless it’s absolutely necessary if you don’t have a job that meets your basic needs then maybe you need to pick up another job but if you have a good job and you have Debts show me a way to get my Debt payments
eliminated that is going to help me stop living paycheck to paycheck most of the time but stop stop telling me to save money because I don’t have money to save I don’t have money to save I don’t have money to have a onee emergency fund come on let’s deal with the American
people that are struggling because of these highin Loans that we have how about we deal with that how about we stop telling people to stop spending and start saving and give them Solutions how about we give them solutions to get rid of the Debt payments every month
how about we give them solutions to eliminate Debt get it out of our Lives then oh we’re going to have money to put in a Savings account and get that one-year fund set up right now people are struggling to eat and we’re telling them to save a one-year
emergency fund we’re telling them to save 10% and invest 20% somebody needs to come down to earth and live where the poor people are living we are poor because we are paying interest on all of these Loans we are poor because we don’t understand the difference between
the tools at the bank and the ones that we’re using maybe just maybe stealing our money but wait what if I showed you a solution what if you had an affirm Loan that had 28 months left at $125 per month and a car Loan that has 36 months left at $42 per month
your Credit cards we have three here and they each have payments with a total of $770 per month the balance of all of these Debts are 13,840 this is just a small example of what can happen even on a $3,800 a month Income right so if you have total
expenses of$ 2500 that include your rent and your living expenses and you have Debt payments at $770 a month remember this total right here what if we moved all of that into a line of Credit what happens when you pay off all of these Debts and
you’re knocking out every one of these monthly payments and all of these 20 8 months 36 months all of these Credit cards are paid off into a line of Credit at 12% what happens well you’ve eliminated your monthly payment so that 770 is gone now
you’re just paying your living expenses that you have to pay anyway which is your rent your food your gas car Insurance stuff like that it’s in the line of Credit now your Income is going into the line which is satisfying any payment
that would be du do on this line so if you take 12% times 13,840 you’re going to get about $139 in interest but just in your first month when your Income goes in it satisfies any amount due on this line of Credit now you’re going to pay your expenses
back out your rent has to be paid back out you have to buy food you have to go get gas so all of these expenses slowly come back out of this line of Credit and in your next month statement you’re going to see some interest applied there but let’s go ahead and add all of
that back in you’ll be at $ 12,679 after your first month and guess what this account pays off in 11 and a half months Max 11 and 1 12 months compared to a 36 Monon car Loan that you had here compared to a 28 month of firm Loan that you had here it’s a
no-brainer it’s a no-brainer we just aren’t taught to use these tools correctly that the bank offers if we can give people Solutions maybe they can stop living paycheck to paycheck this is angering to me is that when I can show somebody that may be paying out as much as3 $4,000 a month
in Debt payments show them how we can turn that around give them the $3 to $4,000 a month in Debt payment payments back in Cash Flow and then watch their Debts come down then give them a a boost in their Credit
scores so that they can move into better tools at the bank and be able to actually own their home instead of making 30 years of mortgage payments I want to give the American people a solution I am sick and tired of hearing save when you are broke when you have children to feed when you have to Pro
provide housing and then you’re telling people oh save your money and that’s going to take away all of your financial mess that is bull that is angering that is not useful at all to probably 80 to 90% of the American public and people around the world we need to give them Solutions we
need to show them how to use the tools at the bank then they can save then they can live in peace financially guys it’s not that hard the tools at the bank are all different you have to learn which tool is going to serve you and which is stealing your wealth once you get educated on how to
use the bank everything else is easy peasy is that a phrase I’m saying we just have not been taught how to use the bank so that it serves you instead of stealing money right out of your pocket that you need for other things thank you for joining me today I am so privileged to be able to talk
to you about what you’re doing wrong in your Finances and how you may be in so much better shape than you ever dreamed you were it’s just because you’re
using the wrong tools at the bank please keep watching CashNews.cos you’re going to see that your solution may be right in front of your face you just weren’t aware keep educating yourself it may be much easier than you ever thought possible to get out of Debt within
months instead of years I look forward to seeing you in the next CashNews.co
CashNews, your go-to portal for financial news and insights.
What if you don't have a line of credit or cannot obtain one?
I’m so sorry, I never say anything, however I have to this time. Mrs. Vann I had to stop listening to someone’s podcast because it wasn’t helping or making any sense. I remember him saying those three things on his show. I still wonder why it’s “supposed” to be the #1…thank you, you’ve help SO much, stay blessed.
Oh c'mon Christy you know the answer, "Sell the car and don't step into a restaurant unless you work there" 🤣🤣
What if we don't have a line of credit?
Trump just capped the interest tate to 10% when he enters office
I agree with you
Please help me, I am everywhere and scared😢
Unfortunately, we didn’t qualify for a 1st Lien HELOC in TEXAS for our new purchase so we had to get a mortgage 😢. Apparently, no debt & great credit alone doesn’t matter. Both our credit scores were in the mid to high 700’s, excellent payment history, zero late payments, excellent credit usage, available credit is over $125,000 each, oldest account is over 25 years old, but that still wasn’t enough to get into a 1st Lien HELOC. The property even had plenty of equity. It’s worth between $220,000 & $281,000 asking $180,000. We were told it’s because we didn’t have the money in our accounts for the required 20% down payment, closing costs and at least 6 months of mortgage payments in reserves for the new purchase & for our rental property. Our current home was just recently paid off so that didn’t count.
Christy, how do your clients get these 1st Lien HELOC’s when they’re coming to you because they’re so in debt, I assume no money in reserves & no cashflow??? This isn’t mentioned in your videos or at least I haven’t seen one.
Kristi you are right on target. Only the people with money can push that narrative. They are out of touch with the real world.
I owe $87,000 on a mortgage.
How much should my Line of Credit be?
So you start out with a rant about financial gurus telling pay check to pay check people how to make the most of money they dont have. Then you use an example of someone making 1300 dollars more than their monthly expenses to prove your method is better. Well, having 1300 bucks after regular expenses and 530 left after other payments is not pay check to paycheck. And all of your advice depends on having a credit line. Most of the time via an LOC on a mortgage as if everyone in dire straits financially has a home or can get a personal loc. Your advice to pay check to pay check folks without an LOC is functionally as worthless as the guru's you railed against.
What if the majority of your expenses cannot be paid with a LOC? I don't have enough left to even put on.the card to pay it down..
How do I reach you personally to get help? I am 63 yrs old and would like to stop the madness.
I still don’t understand how we’re supposed to get a line of credit… One time I asked my bank if I could do a loan so I could do debt consolidation and they told me the only thing they could offer me is something with 20% interest so then I said OK well that sounds ridiculous because even my credit cards don’t even have that high of an interest… And then I never did it and now it’s years later and I’ve still been paying insane amounts of interest. And I’m still in $30,000 of debt plus a $23,000 car loan.
Exactly and then they’ll ask for money to pay for something. Meanwhile, inflation is going up and cost of living.
This is so relatable !!!! Exactly !!!!
😂 I know who those are
Wonderful! So true and so overdue. ❤
God brought you into my life and I am thankful to Him and you! The freedom has been a huge blessing!
Preach it girl! With ten mouths to feed in our family I have been thinking this for years!!!!! Thank you for speaking TRUTH!!
Hi Christi. Is Chris Naugle still a great person to talk to about moving a 401k over into something else?
I enjoy her videos as I can use this information to help others.
I've owned homes and never had a mortgage as I'm a ferocious saver. As a 70 year old real estate was far cheaper than today AND interest rates stayed higher for longer making it possible to save and pay cash. Simply put I don't borrow money. That's the position IMO is where you need to be successful at the money game.
The only time I bought a brand new car – I paid cash – was for 2010 Honda Civic I paid 14k! I still have it to this day and it runs great!
You go girl!!
Hello Cristy, your advice has helped me Tremendously. My Significant other and I call you about a year ago and I have been Thriving Financially sinsce. I live on Social Security and have been able to use a Credit Card to pay all my bills minus rent. I now have more Cash Flow than any of if my friends and family who all have jobs. People are afraid…I have been trying to get some onboard but all are reluctant yet they have been with me on my journey and witnessed the changes. I can hear in your voice your aggravation because of the naysayers…please keep up the good work and do not get discouraged! Personally My credit score has gone up from 640 to 760 in the past year and now i qualify for a Heloc im just not sure if its the correct move yet. Im in need a a vehicle and was going to use the Heloc for all my bills and the Car. The numbers work. Anyway keep preaching, The negative will always be negative do not waste your time and energy trying to defend yourself as these trolls hide behind thier keyboard
Banks are probably mad at you for revealing this stuff. But it’s about time to stop being used as dollar signs! You are making the change for the better of the people! Lead us to financial freedom Vann!🎉🎉🎉
Ive never been more broke. Lost my job in February. Got a sub job in March just before summer vacation. Once unemployment was gone Ive had to use credit cards to get by. I am trying to find a second job. Groceries are insane. I need to know how to do this. What are my options?
💜✨
The reason they don’t give you solutions, the population would no longer be strapped and submissive. If we all woke up, is their worst nightmare. As long as we are stress, broke and powerless, the drama continues.
Hello Christy! Thanks so much. I started VB this month and have a meeting with Anna Tuesday to fine tune the program. I had a 5-figure savings this year and burned thru it to stay afloat in the economy. Burned thru my savings for emergencies too. I figured I'm wasting $1200 a month in interest payments alone! My credit score is 650 or better at all three CB, never missed a payment but this year the economy and prices caught up to me. I'm so thankful God directed me to your channel. I can't wait to meet up with Anna. I wish I had known about VB years ago. I wouldn't be in this position now. Thank you.
So, now out of debt, what is your advice to set up finances to stay out of debt and get into a good money position.
Hi, I just got a 12k ploc, I’m going to use 10k for my mortgage, how do I do that if the ploc doesn’t have any options to make payments, do I transfer the money to the checking account? Appreciate the help!
Also, a person with all those debts likely has a low score and wouldn't be able to get a $14k line of credit.
Can't play the game, if a creditor won't let u in the door.
A person has to be super disciplined to "put all their income into the line of credit" and "not charge anything else that would cause their expenses to increase".
Which, a lot of low income people Are Not Able To Do!
I love your channel. More power to you and your channel.
Thank you, rich people can be so out of touch with the poor man reality, they just don't get it, but they love ❤️ giving their advice for a price.
Love ya Christy! You're the best! Listen to this woman. 😊
Ramsay and the other lady just teach us that debt is bad. We have to learn how to use it to our advantage.
This must be why so many people decided to go homeless "the only way to live below your means"
The beginning of this video is one of your funniest and yet truest all at the same time. These so-called money gurus with the grandioso ideas on how to solve everyone's money problems. Do you know of any banks that are now issuing personal loans? Nearby banks are not giving personal loans right now.
I wish I understood what you’re explaining. I don’t understand about outing my salary back into the line of credit?
Christy I've been following you for a couple months now and have taken steps I didn't know were possible. I signed up and participated in a few workshops, one being Money Max.
In fact…Suzanne (connected to that program) and I have become "friends".
I'm currently in the process with the financial institution referral I received from a section on your website processing my first lien HELOC.
I'm so incredibly grateful for the insight you provide on your channel 🙏🏻
I could write a novel sharing my story but I'll spare all! Lol
Your knowledge has opened up ways of thinking, options and resources I never would have known.
I was asking and praying for knowledge….YOU SHOWED UP 🙏🏻
GOD IS GREAT! Thank you for doing your part 😉
I hope you hit 1 mill subs soon