It is extremely important that you know what your monthly budget is. Your monthly budget your income. The monthly budget calculator will help you figure out where you stand right now.

Velocity Banking

Mortgages can take a long time to pay off by making the minimum monthly payments. Velocity banking is the concept of opening a Home Equity Line of Credit (HELOC) and making it your primary checking account where you will deposit your monthly income and pay expenses, paying off your outstanding balance. Once the balance has been paid off, we can repeat the process of making the lump-sum payments until we no longer have a mortgage.

With A Credit Card

If you don’t have a home, then you can’t apply for a HELOC and have to apply for a LOC instead. However, a LOC can be difficult to obtain because of the high credit score requirement. These loans are less common than a credit card which is also considered as a revolving line of credit. The next best thing would be using a credit card.