Velocity Banking vs Extra Payment (Key Differences): Velocity banking and making extra payments are two financial strategies used to accelerate debt repayment and potentially save on interest. With Velocity banking, individuals utilize a line of credit to expedite payments. With extra payments, individuals use additional income they have. Commonly, after learning about Velocity banking, many ponder "Why don’t I just make an extra payment?" Well, in today's video, we are going to look at examples of both strategies and go over some of the key variables that can drastically impact whether one strategy will be more advantageous than the other. Please note that this video is for educational and entertainment purposes only and should not be considered financial advice. Every individual has their own unique financial situation, and just because one strategy works for someone does not mean it will work for others.