Best Way To Pay Off Credit Card Debt

Best way to pay off credit card debt? I have all the answers and it's not at all what you think. I mean at all. Lifestyle cycle self-sabotage. That's what I call it. I made up those words because all you do is spin around every seven years and you either go bankrupt, foreclose, reorganize your credit cards. You couldn't be doing it any worse. All you're doing is a life of sabotage. So you ready to fix it? Then get ready to listen. So three things I'm going to talk about. Number one, the importance of making more money versus worrying about your debt. There's a whole pattern to that. Number two, how do you actually use credit cards right? Like to your benefit. I call them actually done right. I call them investment cards because there is such a way to make points and rewards and pay for other things in your life. It's fascinating when you really understand that algorithm. And number three, the damage of paying off multiple cards within the same 30-day period. So a lot of you have so many behavioral problems. It's fascinating to me that you choose to continue to suffer in pain when I have all the solutions. And by the way, if you have any questions, go to asklaurel.com and ask a question, make a request. And I'm going to give you a gift right now. I'm going to give you an ebook copy of my millionaire maker, because right now I want to talk about some of the pages and chapters that you're going to be reading inside of them. Now, the first part that I want to talk about is making more money. What a novel concept. It's fascinating when people say, well, I can't afford your tuition. I can't afford it. Just in life, you walk into a store like, no, you can afford anything you want. You just have to learn to make the money to have it. See, a lot of you are used to fixed income jobs where you're just used to your paycheck. The only reason you have credit card debt, listen to this. The only reason you have credit card debt is because you outlive your ability to make money. It is not because you're a bad spender or you're over spender. Now, some of you that's true, but if you live on a fixed income and it's not enough, is really your answer to keep living on credit cards or is it to make more money? It's make more money. It's always the answer to debt. So we're going to teach you how to make money. I'm going to give you two tickets to my millionaire intensive. See, in my world, you have no excuse, no excuse to not make money or learn because every three weeks I do a marketplace. So when you grab the two tickets, go ahead and take that upgrade for $47. You're going to want the VIP. It's the replay and a whole bunch of other amazing education that people pay thousands and thousands of dollars for. So you're going to want it all. So as you make more money, make that your newest priority. In fact, when you entered this video, there was a visual on the screen, right? That on the thumbnail of the screen that showed lifestyle cycle and wealth cycle. And I want you to think about a wealth cycle and it's in my millionaire maker book. It's in the early chapters. So it's a word I made up, but most of you are caught in the lifestyle cycle. You make spend, make spend, make spend. And you wonder why you're in debt. And again, you don't make enough money. So you're always in credit card debt and you don't pay them off every 30 days because you don't make enough money. Is the answer debt? Is the answer you? No, it's make more money. So you need marketing. You need sales. You need a reason to make money. You're all brilliant. There's something you could do to create more cash. And it doesn't have to be big, some amazing business. It can be a simple business. Do some house cleaning, do some tutoring, do some videography, rake yards. But when Christmas comes, it's like hang up Christmas lights. There's so many things you can do to make extra money if you get off the couch and do it. But while you're on the couch, why don't you binge watch here for 25 hours? And what I want you to do about that 25 hours, this is very specific binging. I want you to go and search for every topic that where I talk about credit cards, credit card debt, how to do it. I've already broke this down many, many, many, many, many times. And still a lot of you do it wrong. And as you make money, our goals to get you to use credit cards exclusively for all your payments, get this, all your payments, pay them off every month. So you keep 0%. The number one benefit that no one talks enough about when you use credit cards properly, a lot of them, like you're running a lot of money. So an average good utilization is about five to seven credit cards. So when you have five to seven, you're constantly using them, constant paying off. What is the financial services world look like? How do they look at you? They look at you like, oh my gosh, they make a lot of money. They can spend this much money on all these credit cards at every month. They pay them off to zero. You're not paying any interest on the money for 30 days. You use banks or other people's money, which is fabulous strategy because it's not your cash on a debit card coming out of your bank account. And so what do you get for that high utilization? An amazing credit score. What does that get you? When you go to the bank and you want a new real estate loan, car loan, if you need student loans for your kids, which by the way, you shouldn't use student loans that should be deducted through your company's whole nother strategy I teach. So on page 194 of my millionaire maker book, I want you to consume my pay down schedule of how do you pay down debt? So when you pay down, it's a power down strategy and you don't pay multiple cards. So let's go to number two. So utilizing the cards. And when I say pay a lot of bills, I'm talking about using your company to get credit cards. So I use at least four to six cards, sometimes seven depends on the month and we pay them off all every month. So I have an enormously high credit score. My kids have the same behavior. They have high credit score. My 23 year old son's got an amazing credit score and he has huge access to cash because the financial services world look at you and say, Oh look, there's two or three companies and they're making money, spending money, making money, spending money responsibly. You know, there's a saying that used to say way back in the day, if you can't be responsible for the little amount of money you're making, why would you get any more? Like it's that you talk about the law of attraction, that's manifesting. You can't be responsible for a little. Why would you just spiritually or any energetic way get delivered more? You're not doing enough to contribute to the planet and you're being irresponsible with what you've been given. And if you're living as a sole proprietor, none of this works. You've got to be incorporated to play this strategy. So it's fascinating how many of you want to stay cheap and sole proprietors or do it your way. Fascinating. It's not working and it's probably a horrible way for you to continue, not only your tax strategy, but any sort of a financial strategy. So when you use points, I mean, American Express Platinum has amazing points. A lot of you like the cash back, which is one strategy. But what if you accumulate points? And for those of you who travel or you want to go on some big trips, you'd be shocked how many plane rides, how many hotels, how many other things that you can buy and completely pay for by accumulating proper points on proper cards using actual bank cards. Meaning let's just say you bank at just a typical bank, Wells Fargo, B of A, right? Those kind. If you have a debit card and a credit card on that bank account, it's not enough. You need to go to the American Expresses, the Chase, the Citibanks, right? Although they have banks attached, they're known more as a credit card than a bank. Like banks came separate. If that not, not first for those strategies. So get, get those cards. And again, I got to explain in a deeper, like a lot of you don't realize, I want to explain the depth of the 30 day use of money. So if I'm at the first of the month and not have to pay that bill for 30 days, I'm using somebody else's money. I can accumulate, accumulate, accumulate, pay it all off. And if you pay it off on day 28, day 29, day 30, on a variation, it works well. Now, before I go to the last strategy, which is really, really some detailed stuff that some of you are going to be shocked because these are right. And what you've been doing doesn't work. I want you to subscribe to the channel, click the notification button. I want your five days a week. It's asking for somewhere between eight to 12 minutes a day. We're coming out with a beautiful learning journal. So you're going to talk about what did you learn? What are you going to do and actually start getting a plan. So when you actually become a client of ours, we actually can start looking at that. Say, so where were your gaps? Where are your problems? Cause you all have gaps in your financial plan. Some of you would say you don't even have a financial plan. If you have any comments, put it in the comment section below and let's go to the third and final, which you're going to be shocked about. Should you pay off multiple cards? And when do you pay them off? So most of you, you might pay bills once or twice a month. I would encourage you to start paying weekly bills. And let's just say you have four cards. You're going to pay off one card week one, and then start using it again for that in a 30 day cycle. You're going to pay off second card week two. You're going to pay off the third card week three, fourth card week four. So you always have money in the system. Those of you who maybe pay it off once a month, all at the same time, all four cards, you actually have a gap before you start utilization again. So there's a whole utilization formula. There's a debt to income formula that the financial institutes look at. So when many of you come and say, well, I need capital to start my company. Well, I'm going to ask you, how have you been using credit and credit cards and using and activating your debt? And if you did that wrong, you're not going to be as attractive. You're not going to make as much money and you're not going to be, have access to a lot of money. I have clients that have gone into a traditional bank and got seven, $8 million in a commercial real estate loan for six, 7%. And you say, well, that's high, not in this environment. I mean, most commercial loans are eight, nine, and it's because they use their debt properly. They use their credit card properly and they were in the system properly. And they've been a client for a long time. So let's get your system, right? Let's get you in a wealth cycle, get out of a lifestyle cycle. And we're going to talk to you tomorrow.