Guest Post | Enemy of Debt: Where Behavior Meets Reality

Credit Card Emergency Funds – An Alarming Trend in Society

Written by guest on January 20, 2012 · 19 Comments

The following is a guest post by Jacob from My Personal Finance Journey, a personal finance blog offering actionable personal finance advice with the goal of achieving long-term success. In particular, Jacob focuses on long term investing and asset allocation strategy analysis, deciding how to prioritize new funds as they come in to various spending requirement areas, and how to develop a lifestyle of frugality. Several months ago through the magic of LinkedIn, Brad and I were able to find out that we actually lived in the same city in Virginia. This was quite an awesome find, being as that the personal [...] Read more »

Tags: credit cards, emergency fund, emergency spending, financial trends, personal finance, society

5 Steps to Recover from Christmas Debt

Written by guest on January 14, 2012 · 3 Comments

Guest post by The Happy Rock. The Happy Rock writes about personal finance at TheHappyRock.com and dug himself out of over $70,000 a few years back. The Happy Rock also created a debt snowball calculator to aid people in getting out of debt faster. As the hustle and joy of the holidays are fading and the realities of a New Year are setting in, leftover holiday debt can ruin the excitement of the New Year. If you find yourself stuck in this situation, here are five tips that will help you dig out and loosen debt’s shackles. Come to Terms [...] Read more »

Tags: Christmas Debt, Debt Elimination, financial plan, new year, recovery

Why Resolutions are Great for Your Well-Being and Your Wallet

Written by guest on January 11, 2012 · Leave a Comment

The New Year is officially here, and with its arrival, thousands of people have started trying to create a better life for themselves through the use of resolutions. While we often focus on the most popular resolutions or the right plan for sticking to them, we often neglect to think about how much money our resolutions could save us. Aside from health and mental well-being, resolutions are also beneficial because they are usually great ways for us to increase our monthly savings, and some are even great for our long term savings plans. So before you reach for that cigarette [...] Read more »

Tags: extra money, health, New Years Resolutions, Wealth, well-being

How to Set New Year’s Resolutions and Keep Them Too!

Written by guest on January 6, 2012 · 4 Comments

This is a guest post courtesy of my friends over at Ready For Zero. Nearly half of all Americans set new goals for themselves at the beginning of every single year, yet only about 15% actually follow through and accomplish them. Those numbers aren’t exactly encouraging when trying to figure out the challenges you’d like to tackle in 2012. The odds may be stacked against you, but what the statistics don’t show is that this year, you won’t just be setting any old goals. By following the tips that I’ve outlined in this article, you’ll be setting the types of [...] Read more »

Preparing for the Ultimate Cost of Raising Children: The College Years

Written by guest on November 3, 2011 · 2 Comments

If you have teenagers, you likely have been spending money on them for years. Clothes, food, toys, doctor’s appointments, camp sessions – it goes without saying that the costs add up pretty quickly. But the biggest expense of raising your children may be yet to come. While there is a wide range of costs depending on the specific college – from a local community college all the way up to a 4-year private university – it can generally be said that second education is extremely expensive these days. And while parents take a variety of approaches to their children’s college [...] Read more »

Tags: College, education, plan for college, raising children, save for college, The College Years

Financial Planning for Retirement – Be Conservative, Responsible, Realistic, and be Successful

Written by Clair Schwan on June 1, 2011 · 6 Comments

Not long ago I had the good fortune to gain insight with respect to one family’s financial planning that was centered around retirement. This had been a young couple with children, with both the husband and wife having lived through the Great Depression and bleak economic times surrounding World War II. Talk about a life lesson in stretching a dollar! What struck me as unusual was the constant focus, from the very beginning, on retirement and taking care of their children. It was unusual in a very good way. This couple knew that the future was coming. They knew that [...] Read more »

Tags: Debt Elimination, financial characteristics, financial planning, finanical principles, Personal Responsibility, Retirement

Christmas is Coming, Will You Be Ready?

Written by Brad Chaffee on May 25, 2011 · 8 Comments

Here on Enemy of Debt, I have made it a point to get people to think ahead, especially when it comes to Christmas. In 2009, I challenged all of you to have a Debt free Christmas by preparing for it early instead of last minute. Today's post comes from Tyson Morgan and promotes the same idea of being prepared for something that happens every single year. Nope, Christmas is not an "emergency", although far too often, people are putting Christmas on plastic because they failed to properly plan for what's become a MONSTER CONSUMER HOLIDAY. I love sharing different perspectives from different writers, so I hope you enjoy today's post. Will you have a Debt free Christmas in 2011? Read more »

Tags: budget, Christmas, Debt Elimination, debt free christmas, holiday shopping, planning, saving money

Mortgage Free – Why This is Essential for Traditional Retirement

Written by Clair Schwan on May 20, 2011 · 5 Comments

Who in their right mind would argue that being mortgage free is the only way to be if you expect to retire in some traditional way, with a house of your own? That would be me. As they say, "opinions vary" and "results vary." But, if you pay off the mortgage before you retire, that eliminates a large financial obligation essential for living - someplace to live. That's one of the big reasons it makes sense to me. From my vantage point, as an early self-retired individual, I see being 100% debt free as an essential part of having peace of mind when you retire, and I'm up on my soapbox to explain why. Gather 'round my financially fit friends and lend me your ears. Read more »

Tags: become debt free, Debt Elimination, debt free retirement, home ownership, Mortgage, mortgage free, pay off the mortgage, Retirement, retirement expenses

Dealing with Debt Collection Agencies

Written by Brad Chaffee on May 6, 2011 · 1 Comment

This is a guest post. Photo by quaziefoto Dealing with Debt Collection Agencies When your debt has been turned over to a debt collection agency, it is important to gather information first. Before you agree to pay the debt, find out what the debt is for, where it originated, and the original amount. If it is a fraudulent debt, you will need to go through the process of finding out whether you are liable for it, and take appropriate steps to work with law enforcement and the credit bureaus, as well as the lender and the debt collection agency to [...] Read more »

Tags: collections, debt collection, Debt Elimination, Tips

Frugality Tips – Practice Makes Perfect

Written by Brad Chaffee on May 5, 2011 · 9 Comments

This is a guest post written by Ross of GoBeRich.com. Photo credit: Cliff1066 So I took a little trip to the mall the other day with my girlfriend and one of her friends. This was my first mistake. My second mistake was thinking I would tag along with them while they shopped for clothes and shoes and that it wouldn’t drive me insane. Needless to say, it did drive me insane, so eventually I set off on my own in search of something to occupy myself with. I first headed to Game Stop, as I have to admit, I’m a [...] Read more »

Tags: Debt Elimination, Frugality, shopping, Tips

Marriage and Money – Valentine’s Day Edition

Written by Brad Chaffee on February 14, 2011 · 5 Comments

A recent survey done by the University of Virginia called The Marriage Project found that 29 percent of couples reported that the economic downturn had put financial stress on their marriages. Read more »

Tags: communication, finance, financial bliss, love, Marriage, personal finance, Valentine's Day

Home Ownership – Should You Buy or Should You Rent?

Written by Brad Chaffee on February 10, 2011 · 4 Comments

Ahh, the controversial subject of buying versus renting. Many of you know where I stand on this topic, but I wanted to share this article with you submitted by a guest contributor that offers a basic, common sense approach. I think the housing crisis has changed a lot of minds about what it means to own a home, but the important thing is that you make the right decision for you and your family. On one hand, right now is a great time to buy a home, but on the other, it might make more sense to rent until your [...] Read more »

Tags: American Dream, buying a home, home ownership, Renting

Homemade Wedding Tips and Benefits for 2011

Written by Brad Chaffee on December 28, 2010 · 8 Comments

Are you planning a wedding in 2011? The first biggest test of a successful marriage is planning the wedding. Why? Because the costs involved from hall to caterer to flowers can sometimes be ridiculous and spark unnecessary drama between the parties. Furthermore, new couples don’t want to start off their lives together in debt, especially when the average wedding price tag is anywhere from $26,000 and up. That said, hopefully the lucky couple has enough time to do advanced research and find the most affordable answers to all their needs. Read more »

Tags: budgeting for a wedding, getting married, homemade wedding tips, Marriage, personal finance, planning a wedding, wedding tips

Saving Money on Renter’s Insurance

Written by Brad Chaffee on December 22, 2010 · 2 Comments

Photo Credit: kowaleski This is a guest post by Jeff Orloff. Cutting insurance altogether is never a good idea, even when you are trying to save money. Unfortunately, one of the biggest myths when it comes to insurance is that renters insurance isn’t necessary so many people take a pass in order to budget that money for something else even if it means leaving the possessions you have accumulated over your lifetime unprotected from theft or disaster. When it comes to renter’s insurance, there are many ways you can cut costs so that your possessions are protected while staying within [...] Read more »

Tags: Guest Post, Insurance, insurance myths, renter's insurance