Comments on: The American Dream Is Only As Good As Your Plan To Achieve It http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/ Motivational Money Management Wed, 08 Feb 2012 23:11:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: New To Enemy Of Debt? | Enemy of Debt: Where Behavior Meets Reality http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/#comment-10144 New To Enemy Of Debt? | Enemy of Debt: Where Behavior Meets Reality Sun, 27 Feb 2011 22:24:43 +0000 http://www.enemyofdebt.com/?p=352#comment-10144 [...] Housing - Buying Vs. Renting What Should You Do ~ The American Dream Is As Only Good As Your Plan TO Achieve It [...] [...] Housing – Buying Vs. Renting What Should You Do ~ The American Dream Is As Only Good As Your Plan TO Achieve It [...]

]]> By: Book Review & Giveaway: The New Rules for Mortgages | Enemy of Debt: Where Behavior Meets Reality http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/#comment-10055 Book Review & Giveaway: The New Rules for Mortgages | Enemy of Debt: Where Behavior Meets Reality Sat, 26 Feb 2011 22:06:59 +0000 http://www.enemyofdebt.com/?p=352#comment-10055 [...] a mortgage, I want to help you get the best mortgage you can. Owning a home is often considered the American Dream, but you should know what you are getting yourself [...] [...] a mortgage, I want to help you get the best mortgage you can. Owning a home is often considered the American Dream, but you should know what you are getting yourself [...]

]]> By: Should You Grow Your Nest Egg Or Pay Off Your Mortgage? | Enemy of Debt: Where Behavior Meets Reality http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/#comment-6400 Should You Grow Your Nest Egg Or Pay Off Your Mortgage? | Enemy of Debt: Where Behavior Meets Reality Tue, 04 May 2010 18:55:01 +0000 http://www.enemyofdebt.com/?p=352#comment-6400 [...] people will try to argue that paying off your mortgage is stupid because you lose your “tax benefit“. This makes absolutely no sense to me since what you are doing is giving the bank more money [...] [...] people will try to argue that paying off your mortgage is stupid because you lose your “tax benefit“. This makes absolutely no sense to me since what you are doing is giving the bank more money [...]

]]> By: My Beef With Rich Dad Poor Dad Author Robert Kiyosaki! | Enemy of Debt: Where Behavior Meets Reality http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/#comment-6056 My Beef With Rich Dad Poor Dad Author Robert Kiyosaki! | Enemy of Debt: Where Behavior Meets Reality Wed, 21 Apr 2010 21:39:03 +0000 http://www.enemyofdebt.com/?p=352#comment-6056 [...] good debt bad debt philosophy is not as harmful if you are using that advice to buy a home. Although, I adamantly encourage the 100% down plan, if you are using it to buy the home you want [...] [...] good debt bad debt philosophy is not as harmful if you are using that advice to buy a home. Although, I adamantly encourage the 100% down plan, if you are using it to buy the home you want [...]

]]> By: The Time Is Near – Wish Me Luck! http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/#comment-5777 The Time Is Near – Wish Me Luck! Tue, 13 Apr 2010 10:07:05 +0000 http://www.enemyofdebt.com/?p=352#comment-5777 [...] this Friday, for one whole hour, to a group of ladies about budgeting, saving, student loans, and buying a home.  I was asked to speak about those topics for people who are just starting out, and I said yes, [...] [...] this Friday, for one whole hour, to a group of ladies about budgeting, saving, student loans, and buying a home.  I was asked to speak about those topics for people who are just starting out, and I said yes, [...]

]]> By: Meet Brad Chaffee from Enemy of Debt | Out of Debt Again http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/#comment-4704 Meet Brad Chaffee from Enemy of Debt | Out of Debt Again Sat, 20 Feb 2010 15:02:59 +0000 http://www.enemyofdebt.com/?p=352#comment-4704 [...] that question is a bit tricky for me. I prefer to own a home, but only when mortgage debt is not involved. We currently have a house, but are trying to sell it [...] [...] that question is a bit tricky for me. I prefer to own a home, but only when mortgage debt is not involved. We currently have a house, but are trying to sell it [...]

]]> By: Friday Financial Foul Ups: There’s Nothing Interesting About Interest-Only Loans | My Next Buck http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/#comment-2879 Friday Financial Foul Ups: There’s Nothing Interesting About Interest-Only Loans | My Next Buck Fri, 20 Nov 2009 10:52:34 +0000 http://www.enemyofdebt.com/?p=352#comment-2879 [...] probably be looking for a great deal on a foreclosure.I hope this keeps anyone reading it from EVER buying a home using a sub-prime loan to do so. It might feel like a good idea at first but buyers remorse sets in [...] [...] probably be looking for a great deal on a foreclosure.I hope this keeps anyone reading it from EVER buying a home using a sub-prime loan to do so. It might feel like a good idea at first but buyers remorse sets in [...]

]]> By: Brad Chaffee http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/#comment-1397 Brad Chaffee Thu, 07 May 2009 03:27:52 +0000 http://www.enemyofdebt.com/?p=352#comment-1397 Sorry for the assumption, it just seemed as though you were attacking smart people for making poor decisions. Everyone makes mistakes. I bet you have made some mistakes in other areas of your life, but I wouldn't talk down to you because of it. Maybe you are smarter than some with credit cards, but where's your humility? I am glad you have not had to go through what some people have financially, but when it is all said and done you are human just like the rest of us. I guess from someone that has the experience and wisdom that you claim to have, I expected a more uplifting message. Sorry if I seemed a bit irritated in my response. I do thank you for coming back to say something nice. Sorry for the assumption, it just seemed as though you were attacking smart people for making poor decisions. Everyone makes mistakes. I bet you have made some mistakes in other areas of your life, but I wouldn’t talk down to you because of it. Maybe you are smarter than some with credit cards, but where’s your humility? I am glad you have not had to go through what some people have financially, but when it is all said and done you are human just like the rest of us. I guess from someone that has the experience and wisdom that you claim to have, I expected a more uplifting message. Sorry if I seemed a bit irritated in my response.

I do thank you for coming back to say something nice.

]]> By: Karl Rudolph http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/#comment-1396 Karl Rudolph Thu, 07 May 2009 03:17:14 +0000 http://www.enemyofdebt.com/?p=352#comment-1396 @Brad Chaffee, I should really respond concerning the assumption you made about me, but I won't except to agree with you that you are right I am a lot smarter than most, and about a nest egg, I had one before you were born. Seriously, I think you are doing a good thing, trying to educate people about financial matters. As far as I can tell this task is urgently needed. Good luck with your website. @Brad Chaffee, I should really respond concerning the assumption you made about me, but I won’t except to agree with you that you are right I am a lot smarter than most, and about a nest egg, I had one before you were born.

Seriously, I think you are doing a good thing, trying to educate people about financial matters. As far as I can tell this task is urgently needed. Good luck with your website.

]]> By: Brad Chaffee http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/#comment-1394 Brad Chaffee Thu, 07 May 2009 00:13:08 +0000 http://www.enemyofdebt.com/?p=352#comment-1394 @Tod- Thanks for the kind words and congratulations for being able to do what so many have said can't be done without using credit cards. Thanks for sharing that with everyone! As far as your mortgage company not allowing you to make payments every two weeks. I have heard of companies having something put in the contract that does not allow you to do that, but I think it is unfortunate. Again thanks for stopping by! What mortgage company are you dealing with so I can be sure to spread the word? @Neil- So glad you stopped in to say a few words. Just wanted to clear something up for you. Unless I am mistaken, your debit card does offer the same protection if it is used as credit purchase and not a debit purchase. That is another myth that has been spread like a wildfire. This is from usa.visa.com "With a debit card, also known as a check card, you can shop at many merchant locations without having to carry cash or remember your checkbook and enjoy all the protections of using Visa, like our zero liability policy* against fraud. Just present your debit card anywhere you see the card's logo, and have the purchase amount deducted directly from your checking or savings account." About your mortgage company telling you you can't pay extra. What company are you using, and do you know if there is anything stated in your contract that backs up this supposed policy? If you can't find it I would have them send you a copy of the agreement that specifically states that you can not pay extra. I am certainly no mortgage expert but this seems a little fishy to me. I would love to hear an update from you! @Tod- Thanks for the kind words and congratulations for being able to do what so many have said can’t be done without using credit cards. Thanks for sharing that with everyone!

As far as your mortgage company not allowing you to make payments every two weeks. I have heard of companies having something put in the contract that does not allow you to do that, but I think it is unfortunate. Again thanks for stopping by! What mortgage company are you dealing with so I can be sure to spread the word?

@Neil- So glad you stopped in to say a few words. Just wanted to clear something up for you. Unless I am mistaken, your debit card does offer the same protection if it is used as credit purchase and not a debit purchase. That is another myth that has been spread like a wildfire.

This is from usa.visa.com “With a debit card, also known as a check card, you can shop at many merchant locations without having to carry cash or remember your checkbook and enjoy all the protections of using Visa, like our zero liability policy* against fraud. Just present your debit card anywhere you see the card’s logo, and have the purchase amount deducted directly from your checking or savings account.”

About your mortgage company telling you you can’t pay extra. What company are you using, and do you know if there is anything stated in your contract that backs up this supposed policy? If you can’t find it I would have them send you a copy of the agreement that specifically states that you can not pay extra. I am certainly no mortgage expert but this seems a little fishy to me. I would love to hear an update from you!

]]> By: Karl Rudolph http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/#comment-1392 Karl Rudolph Wed, 06 May 2009 23:23:45 +0000 http://www.enemyofdebt.com/?p=352#comment-1392 I think credit cards are the greatest thing there is for smart, disciplined people because I receive anywhere from 1 to 5 % cashback each time I use the card. And if I wait until I have accumulated $200 in cashback, Chase will send me a check for $250. This way I average more than $600/year on cashback, that's $50/month. I guess for you undisciplined citizen out there in US fairyland, there is only one problem to fully benefit, pay off your darn bill every month. I think credit cards are the greatest thing there is for smart, disciplined people because I receive anywhere from 1 to 5 % cashback each time I use the card. And if I wait until I have accumulated $200 in cashback, Chase will send me a check for $250. This way I average more than $600/year on cashback, that’s $50/month. I guess for you undisciplined citizen out there in US fairyland, there is only one problem to fully benefit, pay off your darn bill every month.

]]> By: Budgets are Sexy http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/#comment-1389 Budgets are Sexy Wed, 06 May 2009 19:27:47 +0000 http://www.enemyofdebt.com/?p=352#comment-1389 "Patience and proper planning are wise" - You got that straight brother! There's no shame in renting at all, we all have different dreams and paths ahead of us, what works for me won't work for you and others, but it's good to understand that... Appreciate the shout out! -J “Patience and proper planning are wise” – You got that straight brother! There’s no shame in renting at all, we all have different dreams and paths ahead of us, what works for me won’t work for you and others, but it’s good to understand that…

Appreciate the shout out!
-J

]]> By: Neil Davis http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/#comment-1387 Neil Davis Wed, 06 May 2009 16:18:15 +0000 http://www.enemyofdebt.com/?p=352#comment-1387 I'm with Tod, though I carry a small CC balance. I use it for trips so I don't need to carry my check card (which has 0 fraud protection). I save my money for my trip, use the CC then pay it all off when I get back. Mortgage companies really make it a PITA to make extra payments. Mine tells me I can't do it without a $300 fee. Pardon my French but what the hell? Isn't it illegal for them to do this? I specifically asked "Ok, is there any way to pay extra money on my mortgage without incurring a fee?" and the answer was no. What do I say to the person on the phone when they try to feed me this bologna? -Neil I’m with Tod, though I carry a small CC balance. I use it for trips so I don’t need to carry my check card (which has 0 fraud protection). I save my money for my trip, use the CC then pay it all off when I get back.

Mortgage companies really make it a PITA to make extra payments. Mine tells me I can’t do it without a $300 fee. Pardon my French but what the hell? Isn’t it illegal for them to do this? I specifically asked “Ok, is there any way to pay extra money on my mortgage without incurring a fee?” and the answer was no.

What do I say to the person on the phone when they try to feed me this bologna?

-Neil

]]> By: Tod http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/#comment-1385 Tod Wed, 06 May 2009 14:16:15 +0000 http://www.enemyofdebt.com/?p=352#comment-1385 Brad, Excellent web site!!! I hope your CNN article yields lots of hits. I have personally been credit-card-free for 10 years after discovering a mystery $2000 balance on a card I had paid off (courtesy of my wife). Don't need 'em, don't use 'em. I converted to Check Cards (looks and acts like a credit card for convenience, but money comes directly from my checking account) and operate on a 100% cash basis with the exception of my mortgage -- no car loans, no credit cards. Anyways, I did try bi-weekly payments with my mortgage company, but they didn't apply the early payments until the entire mortgage payment amount was received claiming that they didn't know what to do with the money. They wanted me to call them every time I sent an early check to tell them how to apply the balance. I'm still looking for another solution... thnx Brad,

Excellent web site!!! I hope your CNN article yields lots of hits.

I have personally been credit-card-free for 10 years after discovering a mystery $2000 balance on a card I had paid off (courtesy of my wife). Don’t need ‘em, don’t use ‘em. I converted to Check Cards (looks and acts like a credit card for convenience, but money comes directly from my checking account) and operate on a 100% cash basis with the exception of my mortgage — no car loans, no credit cards.

Anyways, I did try bi-weekly payments with my mortgage company, but they didn’t apply the early payments until the entire mortgage payment amount was received claiming that they didn’t know what to do with the money. They wanted me to call them every time I sent an early check to tell them how to apply the balance. I’m still looking for another solution…

thnx

]]> By: The American Dream Is Only As Good As Your Plan To Achieve It | cheaper car insurance http://www.enemyofdebt.com/2009/04/the-american-dream-is-only-as-good-as-your-plan-to-achieve-it/#comment-1384 The American Dream Is Only As Good As Your Plan To Achieve It | cheaper car insurance Thu, 30 Apr 2009 02:33:51 +0000 http://www.enemyofdebt.com/?p=352#comment-1384 [...] See the original post here: The American Dream Is Only As Good As Your Plan To Achieve It [...] [...] See the original post here: The American Dream Is Only As Good As Your Plan To Achieve It [...]

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