Brad Chaffee | Enemy of Debt: Where Behavior Meets Reality

My ImpulseSave Experience: Is Saving Money Fun?

Written by Brad Chaffee on March 24, 2012 · 4 Comments

Hello everyone! I hope you’re having a great weekend so far! A few weeks ago I did an ImpulseSave Invite Giveaway! At the time, I wasn’t quite fully setup and connected to my Perkstreet checking account so unfortunately I couldn’t share a more personal review of the site and the wonderful savings tool that it is. On March 11th, I was finally able to take full advantage of the site. Since then I’ve jumped in head first and I must say — I LOVE IT!!!! I don’t think saving money has ever been this much fun! My wife and I [...] Read more »

Debt Free News #22 – Bobbie Bushman

Written by Brad Chaffee on March 19, 2012 · 2 Comments

Happy Monday everyone! Today I thought I would share another Debt Free Story with you. It’s been a while and this series has become very popular so I hope you enjoy this one. This Debt Free News edition is actually one of my favorites. Not because previous debt free stories are any less exciting but because it so closely resembles my story. When we were plagued with debt we both worked our tails off and in the very beginning of our marriage we spent more time with our co-workers than we did with each other. We passed each other at [...] Read more »

Increase Your Personal Savings and Live the Life You Want

Written by Brad Chaffee on March 5, 2012 · 5 Comments

Do you have trouble saving money? Take one look at the savings rate in America and you’ll realize you’re not alone. It goes up and down but before the gloomy recession savings rates were as low as -2%. You read that right. Americans had a negative savings rate! It’s gone up a little bit since then but there is still much room for improvement. Clearly Americans have trouble saving money but imagine if there was something that encouraged you to pay yourself first each and every month. Instead of running out of money at the end of the month to [...] Read more »

Valentine’s Day on a Budget

Written by Brad Chaffee on February 13, 2012 · 4 Comments

Valentine’s Day… (sigh) In modern times we celebrate this day by showing our love for one another. The original meaning of Valentine’s Day, however, was to honor Saint Valentine but the connection between that and what Valentine’s Day has become is a complete mystery. The connection is only found in folklore and legends but nothing concrete. Deemed by many as a “Hallmark Holiday”, Valentine’s Day has exploded into a mass marketing campaign that has been accepted by society as the romantic holiday of love. This acceptance has people buying jewelry, expensive chocolate, plush teddy bears with hearts that sing songs, [...] Read more »

Your Credit Score — It’s Not a Measure of Financial Responsibilty

Written by Brad Chaffee on February 7, 2012 · 32 Comments

If I received a quarter for every time someone told me I “needed” a credit score I would be super rich right now. There are many myths surrounding the credit score and believe it or not, it’s the financial world itself that continues to spread these myths. Ask any educated finance graduate if you need a credit score and you’ll most likely hear a “default” answer of ABSOLUTELY. Ask them why you need a score and not only are you likely to get an evil eye roll, the next words out of their mouth will probably be…ARE YOU KIDDING ME? [...] Read more »

Pay Off Debt Faster by Using the Right Financial Tools

Written by Brad Chaffee on January 31, 2012 · 13 Comments

How many of you have a plan you consistently follow each month to pay off debt? Based on my own experience (before my wife and I got our financial heads together), I’d guess that many of you do not. I know the drill. You pay off a little debt here and a little debt there but it’s random and not based on any kind of written (or visual) plan. You make some progress and take a few steps forward but then suddenly find yourself taking a few more steps back. Some of you may even be paying just the minimum [...] Read more »

Kids and Money – Credit Cards for 2 Year Olds?

Written by Brad Chaffee on January 16, 2012 · 21 Comments

Do you want your 2 year old “learning” to swipe a credit card? This Christmas Noah (our 2 year old) was given a Shop and Learn Cash Register. At first I was excited. The nerd in me eagerly opened it up and secretly drooled over the idea that Noah was going to start learning about money. It had buttons, sounds, lights, a working coin drawer, a scanner and groceries to ring up. Perfect fun right? Then I noticed it also came with a credit card. I’d rather it not have a card at all — debit or credit — but [...] Read more »

American Consumers Dive 5.6 Billion Dollars Deeper in Credit Card Debt in One Month

Written by Brad Chaffee on January 12, 2012 · 7 Comments

While some of us were saying No to Restaurants in November it seems others were saying YES to binge shopping sprees financed by credit card debt. In an article sent to me by my friends over at Impulse Save, consumers racked up 5.6 billion dollars in credit card debt in November alone. Judging by the shape of the economy (specifically unemployment) one would expect these numbers to be down so this is an astonishing statistic. The Time Moneyland article also shared Federal Reserve data that shows consumer borrowing skyrocketed by 20.4 billion and is the highest month-over-month increase in the [...] Read more »