Ellie on Fox News Network!

I came home from Fort Polk, LA to a message from The Morning Show with Mike and Juliet. They had a family they wanted to help recession proof their life. I packed my bags and left the next day for New York. My hotel was in Times Square, so I shielded my eyes from looking at the N-ked Cowboy (and instead saw the N-ked Cowdog) and made my way to the Stage Deli for some pickles and cheesecake.

Here's a link to the show we did with the Payne family. They were fantastic and when they showed up, the father did not have a job after much searching, they had their five beautiful kids in tow and their house was in foreclosure. Here's a link to their story.

http://www.mandjshow.com/videos/part-2-recession-proofing-your-life-with-mj/

And it's cool to report that this story has a happy progress report after only one week! Here's the note I got from Jefri and Tymika:

This is Jefri Payne from Indianapolis, IN. My wife (Tymika) and I were on the Morning Show with Mike and Juliet with you last Monday. I am writing to thank you for all the wisdom, advice, and most of all the encouragement you shared to help us improve our lives financially. Things have started to improve for us. I started a new job Wednesday as a substitute teacher in the local school district. I have signed on with Career Builder to improve my marketability. Tymika is clipping coupons like a madwoman. We took our children to Wal-mart with the gift card and treated them to some new clothes, shoes, and groceries. We have spoken to a certified mortgage loan officer about our mortgage situation. After reviewing our paperwork, she discovered that we have been overcharged. To top things off, the realator who got us in this house was put in jail for mortgage fraud. When everything is said and done, we will be paying 50% less per month and possibly credited all that we have paid thus far. I am looking forward to things turning around completely. --- Thank you, Jefri and Tymika Payne!



So take courage, Mr. & Mrs. America! Your "low point" may simply be your "turning point" toward a road to recovery!

Ellie Kay
America's Family Financial Expert (R)
http://www.elliekay.com/

Wall Street Meets Main Street

The only thing worse than being associated with Wall street these days is being a Wall-Street-type going back to your college reunion. I've been remiss in posting the last couple of weeks because I've had back-to-back-to-back trips. The first leg was for my husband, Bob's, Air Force Acadmey reunion.

We saw generals, astronauts, corporate CEOs, airline pilots (lots of those) and even an occassional wayward fighter pilot or two. Bob clearly had the most enviable job--as a test pilot for the Sabreliner and F-4 fighter jet.

At this reunion, the week the Dow fell south of the equator, the least enviable job was that of a financial investor. Most of these Wall Street guys had a good attitude, but Bob and I spent a painful 20 minutes with one Financial Management guy who spent 1/2 the time talking about how rich he was (yeah, I believe THAT) and the other 1/2 about how smart he was to own the company. Bob tried to interject, "Well, Ellie works in the financial area as well--she's an author, speaker and media personality." He took one very condescending look at me, tightened his lips, raised his eyebrows and looked as if the idea of listening to me talk about my work would be as pleasant as the thought of having to stand in for the "Naked Cowboy" in the middle of Times Square. I spared him. Instead I said, "Bob, he probably needs to go and catch up with other class mates, if he wants to know more about me, he can go to my website."

The vast majority of Wall Street is so disconnected with Main Street. Their main interest is "my accumulated wealth, my ambition, and oh, yeah, ME." But then came the second leg of my back-to-back-to-back trips--Fort Polk, Louisiana or Main Street America. At this post, 85% of the soldiers are deployed NOW. They brought me out to speak at a spouse's conference that the leadership put together to help these (primarily) women deal with: 1) their finances and 2) the life and death aspect of their role as military wives. Just before I came to town,we got word that the post lost a soldier. So when I spoke, behind me on the platform, the stage was set up for a memorial service for the staff seargant who was killed in Iraq and left a wife and three kids. The memorial was to be held in the same building where we had our event. My message was practical and purposeful and one that gave hope in the midst of their real world life.


The next day I spoke again to another group on post. One of the women came up to me and said she had talked to her soldier the night before from Iraq. He said, "let me live vicariously through you, what did you do today?" She told him about the spouse's conference and some of the funny stories. He laughed. She also told him about other aspects of the presentation and said, "She made me laugh. She made me cry. She made me proud to be an Army wife."

He asked her to give me a message, knowing she would see me at the event that day. "My husband wanted me to tell you" she smiled shyly, "Thank you for making my spouse laugh. Thank you for making her cry. Thank you for making her proud to be my wife."

When it comes down to working on Wall Street or working with those on Main Street. I think you know where I choose to live. Later this week, I'll talk about the final leg of my back-to-back-to-back trips (hint, it involved Times Square and the good news was Bob's broker classmate wasn't there!)

Ellie Kay

America's Family Financial Expert (R)

http://www.elliekay.com/

Don't Mess With Mom

I'm no political expert, I'm a financial chick. But I have to say that the news of Sarah Palin tends to bring out the power of mom--no matter what your political leanings. Strong women are rising to the top of their fields and mom power is also on the upswing. Essentially, we are seeing in the media what strong women have known all along--you don't mess with mom.

In fact, this may very well be the year of the power mom.

I was interviewed on a professional and personal level for a story at CreditCards.com entitled "Pregnancy or Paying Down Debt: How to Fit A Baby Into Your Financial Future." http://www.creditcards.com/credit-card-news/pay-off-debt-before-baby-dilemma-1267.php The gist of the story is whether you should get your finances in tip top shape before you make the decision to have a baby.

I didn't really have the luxury of that decision initially, because I married a good guy and instantly got two bonus babies, who were six and eight. While they were not with us full time, we were still privileged to be financially responsible for their well being. Then I had five surprise, surprise pregancies in seven years for a total of seven children. I left my job as a broker and became broke because I also inherited $40K in debt. But being broke wasn't my destiny. I knew it was just for a season.

We paid down debt on one income and never regretted having a single one of those children. (Although there were days when I would have traded ALL of them for a good night's sleep). In fact, I discovered a hidden purpose in the midst of motherhood--the power of mom. Strong women can take the organizational and sanity skills necessary to cope with kids, debt and other problems and use those skills in other areas. In my case, I was able to create a thriving business by leveraging a professional and educational background with the practical and personal aspect of what it means to use creativity, business acuity and common sense to pay down debt and build wealth. In essence, the power of mom.

So whether you're a mother of one, four, or more--don't be shy about pursuing your passion. Live each season to the fullest--whether you're at home or at work. Don't apologize for your choices and let the world know that you don't mess with mom!

Ellie Kay
America's Family Financial Expert (R)
http://www.elliekay.com/

The Bunny Has Hopped Away

OK, this post is going to be very different--and very personal. If you've been reading my blog, you know me to be a "Texas Woman" meaning that (to quote the movie The Rookie) "I don't need no man around to keep things running." I'm pretty methodical, talking about finances and giving practical advice.

With the exception of a few chick flicks and the time I broke my foot on a toy vacuum cleaner, the kids have rarely seen me break down and cry. I don't know if it's all these years as a fighter pilot's wife, where I had to remain calm when a jet went down in the squadron (he just had a fire light go off in the cockpit last week.) Or it could be the fact I was raised with the responsibility of an adult. But I'm just not usually a typical girlie girl--at least when it comes to tears. All of that changed this past week.

After I followed all my own advice and got our daughter ready for college (scholarships, books at http://www.campusbooks.com/, dorm room gear at the site to store of http://www.walmart.com/) it was actually time for her to leave home. She's the first girl I've launched.

I've been crying a bit since Bethany (aka Bunny) left on her college road trip on Weds morning. As I think about her, I realize that she has only been a joy and delight. Yes, we argued about grades, picking up her room and the occasional 'tude when her evil twin, Stephanie, showed up. But unlike the arguments I've had with some of the guys throughout my life, Bethany was never mean. She was never cruel. She was always a delight.

She's where she belongs, at Moody in Spokane and then she'll go to MBI in downtown Chicago--all tuition paid. Bob and I worked ourselves out of a job--preparing her to launch out on her own and follow her unique path in life. She is surrounded by a great group of young women who are very sweet, seem to be thoughtful and others-centric. As a farewell gift, Bunny gave me a beautifully framed photo of her and I at her "farewell" dinner where Bob and I took her to a fave restaurant. It was a really good pic, we are both smiling and happy. She also gave me a tear-wrenching note, thanking me for what I've done for her. It is very special.

When our oldest son left for college there was grief at the bittersweet changing of seasons. When our next son left, he was in such a state of readiness to launch out on his own that the greater grief would have been for him to stay. I thot it would be "hardest" to send the first to college and I knew it would be somewhat hard to send off my daughter, but I was surprised by grief. I seem to cry constantly.

I go to the grocery store and start to get Gala apples because they are Bethany's favorite. Then I realize she's not home. I start to take out the trash and look around the floor for one of many of Bethany's pairs of shoes to throw on while I walk outside (she's notorious about leaving them lying around). But they are all gone. I'm doing stuff at home and realize I need to go check the mail out at the post office and don't have time, so I think I'll just ask Bethany to stop and do it while she's out. But she's not just out running errands--she's not here.

She's only, always been a delight and joy.

Ellie Kay
"America's Family Financial Expert" (R)
http://www.elliekay.com/

Break a Leg! -- Or Not!

A year ago today, I fell off a three foot platform while speaking to a packed audience. Yep. There was an optical illusion on the stairs and afterwards, the usual speaker for that facility said, "Wow, I've been worried about doing that myself for years, it's so hard to see those stairs!" Well, ya think ya coulda' warned ME about it? I didn't break any bones, but the trauma triggered a "frozen shoulder" and all kinds of nonsense MRIs, x-rays, surgeon consults, etc. It's taken a year to recover. PLUUZE...no "how couldyou fall for that?" jokes, OK? I'm just glad I had insurance!

According to the Healthcare Cost and Utilization Project, if you or your child broke a leg, you would incur costs in excess of $15,000. It’s no wonder that in my experience with mainstream American families, I’ve found that the greatest financial concern they have is how find affordable health insurance.

Be Healthy
The best protection against rising medical costs is still prevention. First Place (http://www.firstplace.org/) http://www.weightwatchers.com/ are fabulous health programs for men and women of all ages. Using a support system that incorporates balanced eating and exercise plans, these groups provide the accountability and opportunity to change your life. A healthy lifestyle can also have other advantages. Many health insurance companies offer a refund on an annual premium if the insured can prove that they have attended a health and fitness center three times a week, or by being a member of Weight Watchers.

Be Wealthy
There’s no need to pay more than necessary for health insurance. Compare plans and prices by going to a non-intrusive site such as http://www.progressive.com/ , http://www.netquest.com/ or http://www.ehealthinsurance.com/ . It’s possible to get a relatively anonymous quote instantly without the intrusion of a salesperson calling your home or office. It’s also a good place to compare plans by remembering that you shouldn’t buy what you don’t need. For example, if you do not need maternity benefits, eliminate them from the plan you choose.
If you can consider a higher deductible, then the money saved on premiums could go into a Health Savings Account (HSA), which is basically a health insurance policy you can bank on. When an HSA-eligible policy is purchased in conjunction with an HSA account, then the Health Savings Account is funded with pre-tax dollars, and taxable income is reduced at the same time. The money in this account is used, tax-free, to fund healthcare related costs including prescriptions, insurance deductibles and over the counter medications. The money that is not used in this account is rolled over from year to year and can serve as a retirement plan.
You do not have to insure all family members on the same policy. If there’s an employee benefit in a group plan, it doesn’t mean all family members have to be covered on the same plan. An average family can save as much as $2500 a year by pulling family members out of pricey group plans and purchasing individual health insurance. The exception to this would be if the family member has a pre-existing condition (such as asthma, a heart condition, high cholesterol, etc) that might be temporarily or permanently excluded in an individual plan. In that case, it would be better to pay the higher premium in order to keep the comprehensive coverage consistent.

Be Wise
Know the difference between health insurance and discount health or medical “cards.” According to the Coalition Against Insurance Fraud, many companies are selling so-called discount health cards to consumers seeking affordable healthcare. Usually for a monthly fee, the cards claim to save subscribers money by offering discounts on physician visits, hospital stays, prescription drugs, dental work, eye care and other treatment. The CAIF says that, “Discount health cards are spreading rapidly. Many may offer valuable, money-saving benefits for people without health insurance. But these cards can also be confusing, because they are not insurance. You still must pay the medical bills yourself. These cards simply offer lower prices on services that accept these discounts.” If you have a question about a policy or a card before you buy, go to www.insurancefraud.org to make sure you’re being wise in your choices.
Finally, for the 45.8 million uninsured Americans, who may feel they cannot afford health insurance, go to the non-profit arm of a previous site found at http://www.ehealthinsurance.org/ to see what services and benefits are available for your particular situation and in your state and community.

Here's to a Healthy Fall!

Ellie Kay

America's Family Financial Expert (R)

http://www.elliekay.com/

Bargaining 101

If you save money by paying less on consumer items, you could “earn” anywhere from $100 to $10,000 a year. It’s just a matter of learning how to negotiate on everything from shoes to salaries. The key to asking is to learn how to bargain without embarrassing yourself, your friends or your family. Here are a few successful strategies to try:

· Compare –Furniture, phone plans, electronics, jewelry and appliances are all highly negotiable. Find your desired item on a search robot such as Froogle.com, MySimon.com, NexTag.com and eBay.com or in sale circulars from the Sunday paper. Then print out the price, take it into your store and ask them to match it. Some stores, such as Wal-mart, will match competitor’s ads (even on food items).

· Compensate – If the salesman cannot match the price, then ask for other freebies such as complimentary delivery, free accessories, or an extended warranty.

· Continue – If the salesman grants extra perks, don’t stop there. After you’ve secured these, ask for the manager and ask her to match the competitor’s price.

· Counter – It never hurts to counter a price, if you ask for 20% off and they offer 10%, then counter with 15%. When it comes to salary negotiations, you shouldn’t accept the first offer. Most salaried professionals ask for 10% to 12% more than what they're offered, and often settle for 7% to 8% more. If you did this with your first salary, it could add up to $500,000 by the time you are 60 years old!

· Consideration – Don’t limit the odds of success by asking for too much. The store has to make a profit. Small appliances are usually marked up 30%, while larger ones such as washing machines are marginalized by only 15%. However, most large furniture items and jewelry are increased by a whopping 100%!

· Communication – Learn to say: “Is this your best price?” “Was this recently on sale and can I have the sale price?” “Do you think you could ask your manager, I’ll be happy to wait,” “Hmmm, this item is a little damaged (makeup on the collar, an already opened box, a ding or scratch) could it be marked down?” and last but not least, “Thank you, I’ll be back!”

Ellie Kay

America's Family Financial Expert (R)

http://www.elliekay.com/

Baby Wipes - Tell Your Friends!

Babies! I LOVE babies!

When I married my husband, Bob, I got a "three for one" deal that included a great guy--and two babies.Step-daughters, that is...add five more babies in seven years and you get a total of seven! Now, thanks to that original "three for one" deal, I'm a grandma (should I say step-grandma? I'm not old enough to be a grandma!). We have an adventurous grandson and a beautiful baby girl (who has Bob's eyes). One of the tips that helped Bob and I so much when we had all those babies (and three in diapers at once) was my homemade baby wipes recipe. I get more requests for the following recipe than I do for practically any other resource.

I know that it can save the average family about $300 a year and you know that the ingredients are safe. Plus, it's eco-friendly as well because you don't have to keep discarding baby wipe packaging! So share this with your friends, family and everyone who loves babies!

Ellie Kay's Baby Wipe Recipe (C) 2008

1 Round plastic container with lid (about 6 inches tall and wide enough to accommodate 1/2 roll of paper towels)
1 Roll of heavy-duty paper towels (no cheap store brands)
4 Tablespoons baby oil
4 Tablespoons baby shampoo
4 Tablespoons baby bath
1 to 2 cups of water (depending on the absorbency of the towel)

Cut a small X (about an inch long) in the plastic lid of the container. Cut the paper towels in half to make two short rolls of towels. Use one and save one. Put the first three ingredients in the bottom of the container and add one cup of water. Stir well. Place the paper towel, cut side up, in the water for a few minutes. Then turn it over, cut side down, to let the other side absorb the liquid. Let sit for five minutes. If the roll of paper towel still has dry portions on it, then keeping adding water, ½ cup at a time, at five minute intervals, until towels are completely damp (not dripping, just damp). After the center of the paper towel tube is wet, gently pull it out of the center of the towels. Pull the towels from the center, and thread through the X in the lid of the plastic container. Seal. Will keep fresh for up to one month.

Ellie Kay

America's Family Financial Expert (R)

www.elliekay.com