8 Ways to Celebrate Savings

Ellie Kay, "America's Family Financial Expert" ®, offers some easy, practical money savers in this Financial UPGRADE to help us become better stewards of our financial resources. With financial wisdom, we can share with people in need and support the Kingdom in tangible ways.

"Saving money can be a lot easier than you think," Ellie says, "if you know when and where to use the right websites and apps."

I (Dawn) have appreciated Ellie's budgeting and saving tips in the past, and this post has a few ideas I hadn't thought of before!

Ellie continues . . .

I just returned from Barksdale AFB, where we had the latest Heroes at Home Financial Education event. I absolutely love traveling around the country giving these events to our Heroes and Heroes at Home! 

There are several apps we always love to recommend (RetailMeNot, TravelZoo, etc.) because they are so easy to use and save money. But one of the things I love is that we are always learning more and more websites and apps through these military families we encounter.

According to James 1:5, if we lack wisdom, we can ask of God who will give it to us.  

So let’s CELEBRATE the savings with a few of our favorite ideas, that can help you become wise in the use of your money.

1. Organize your Inbox: Sign up for emails from your favorite stores and brands because they frequently send out sales, deals, and coupons to get you back into the store! But if you don’t want to get 20-30 emails in your inbox every morning, sign up for Unroll.Me. You are able to unsubscribe from lists through this email that you no longer wish to see.

2. Budgeting: Mint is a great site and app for budgeting that I recommend quite frequently. You are also able to pay your bills and see your credit score. Also check out GoodBudget (formerly EEBA) if you are an envelope system family, and for sharing budgets with members of the same household.

3. Gas: Waze is my favorite GPS app out there. It calculates the best route using both major highways and side streets. But one of my favorite features in this app is that it tells you the gas prices for all gas stations in your area. It will also calculate how far off your route each gas station will be. TripTik (by AAA) calculates mileage based on most economic route.  GasBuddy is another great tool for calculating a trip cost, gas price charts, and more.

4. Coupons: RetailMeNot is my recommended coupon app for retail stores. But also check out Coupon Sherpa for in store coupons to make sure you are always getting the best deal. If you are a fan of paper coupons, use SnipSnap to take pictures of the coupon and use your phone when it comes time to redeem.

5. Entertainment Tickets: Goldstar is a great site for finding half-priced tickets for shows and concerts in cities around the world. For Veterans and families, take advantage of Veterans Tickets Foundation, which is a great organization that provides free tickets to family members of troops Killed In Action (K.I.A.), our Military and Veterans to sporting events, concerts, performing arts and family activities.

6. Parking: Never overpay for parking in any city when you use BestParking. You are able to search city and airport parking to find and compare the best rates. This is a great tool for both planning trips, and getting a good price on the go.

7. Airfare: Looking for that special price for that trip coming up? Keep an eye out for the best time to fly at the best price with Hopper or BookingBuddy.com.

8. Other Apps – Travelzoo.com

What are some of your favorite ways to be a better steward of God’s resources? Let me know so I can keep spreading the word!

Ellie Kay is a regular expert on national television with ABC NEWS NOW’s Money Matters and Good Moneyshows. Ellie is also a national radio commentator, a frequent media guest on Fox News, and CNBC, a popular international speaker, and the best-selling author of fourteen books including her  newest release, The Little Book of Big Savings (Waterbrook, 2009).

Graphic adapted, Image courtesy of Feelart at FreeDigitalPhotos.net.

Get Back on Track after Holiday Spending

In this special, much-needed Financial UPGRADE, Ellie Kay—"America’s Family Financial Expert" ®—will help us become better stewards of our resources, helping us get back on track in the New Year.

"The worst decision you can make in regards to your finances," Ellie says, "is to have no plan for financial recovery."

Financial stewardship and use of resources is taught throughout the Bible, encouraging wisdom (Proverbs 21:20), proportionate, unselfish, cheerful giving (Deuteronomy 16:17; Luke 6:38; 2 Corinthians 9:7) and right priorities—putting God and His work first (Malachi 3:10).

Whether we've been careful in our spending or we've "blown it" financially over the holidays, I (Dawn) think Ellie has some wise principles to help us move forward into greater financial freedom.

She continues . . .

Sometimes, a decision that starts as a New Year’s Resolution can end in a dream come true when you let those resolutions become a new way of life.

Our family did this to get out of debt and pay cash for our cars. We wanted to be better stewards of the resources that God gave us and we decided to give our finances an upgrade by doing things wisely.

Here are some common resolutions that can get you back on track in the New Year, even as they did for our own family.

Resolution #1: Pay off Consumer Debt

An excessive amount of consumer debt usually means a lower credit score (FICO), which means higher annual percentage rates (APRs) on existing credit cards. By improving your FICO, you can lower the APRs, thus paying off that debt in a fraction of the time.

It’s not hard to improve your FICO by following three easy steps:

Step 1 - Pay on Time 

Not only does a late payment mean high late fees, but part of your score is determined by payment history. Set up automatic payments online with each card to make sure you’re never late again.

Step 2 - Pay in Proportionally 

Utilization, which is the ratio of debt to available credit is important. For example, if your card has a limit of $5,000 and you have $2,500 charged, your ratio is 50%.  Adjust the balances on your cards to make sure each has no more than a 50% ratio.

Step 3 - Pay it Down!

Pay as little as $5 to $10 more than your minimum credit card payment.  It shows up on paper as the consumer trying to “pay down” the debt. 

You can also get out of holiday debt sooner if you reduce spending and repurpose those funds.

As soon as you save in one area, immediately channel the money you saved toward your debt load. If you don’t take that saved money and put it toward a credit card or other debt, then it will just get reabsorbed into your spending.

Resolution #2: Pay Cash for Your Cars

The least expensive car you can own is the paid-for car that you currently drive.

By going to my tool section at EllieKay.com and clicking onto the “Automobile Affordibility Calculator” you can see how much to save each month in order to afford to pay cash for a newer car. It is a lot easier than you think.

Once you’ve paid off your current car, don’t trade it in, but keep making payments to yourself in the amount of the former loan. So let’s say you put $350 per month into a car fund and invest it in a fund that makes 5% annually. You would have around $4400 at the end of the year, plus the value of your existing car (let’s estimate $5,000) to put almost $10,000 down on a newer car than you now own.

If you keep saving and keep trading up, then you’ll be able to pay cash for your cars for the rest of your life!

In the first fifteen years of our marriage, on one (military man’s) income, we bought 11 cars this way, paying cash and even donated some of those used cars to charity! When you do things God’s way, He often provides ways for you to be a blessing to others.

What will you do to get on track after Holiday spending?

Ellie Kay is a regular expert on national television with ABC NEWS NOW’s Money Matters and Good Money shows. Ellie is also a national radio commentator, a frequent media guest on Fox News, and CNBC, a popular international speaker, and the best-selling author of fourteen books including her  newest release, The Little Book of Big Savings (Waterbrook, 2009).

Graphic adapted, Image courtesy of Stuart Miles at FreeDigitalPhotos.net.

Keeping to the 'B-word'

In this Financial UPGRADE, Ellie Kay, known as “America’s Family Financial Expert,”® gives us some timely information on how to be better stewards of our resources through budgeting.

"The only real failure in budgeting is to do nothing at all," Ellie says.

Budget! I (Dawn) used to hate that word. I saw it as restrictive ... no fun! But the Lord showed me the value of budgeting, and how it could free me up to do the things I really longed to do.

Ellie continues ...

Families usually have favorite restaurants, movies, and even special songs that reflect the character and tastes of the family. Your budget will be just as unique as your family. It will be based on variable factors, such as your family’s size, geographical location, debt load, and income.

One of the reasons Bob and I first set up a budget, is because we wanted to be better stewards of our finances. We remembered Luke 14:28, a passage that talked about the fact that a wise man counts the cost before he builds a tower. We wanted to build a Biblical financial legacy for our kids and realized that both of us wanted to have healthy finances.

We also realized that we didn’t need to go overboard by pinching our pennies so tightly that it strained our relationship and took all the enjoyment out of life. So we allowed for an occasional indulgence, implemented budget-cutting techniques slowly, and modified our plan as needed.

There are a few problems that can throw your budget off in a matter of seconds, sending it toward disaster. But the only real failure in budgeting is to do nothing at all.

Here are a few tips to avoid these common pitfalls, and a few reminders to keep trekking at this budget thing:

Debt or Credit

Proverbs 22:7 says, “The rich rule over the poor, and the borrower is servant to the lender.” We knew we wanted to get out of debt and we chose to adopt a cash-only policy when it came to our budget, setting up an envelope system where we placed the budgeted amount of cash in envelopes marked “food,” “entertainment,” “gas,” and so on.

When the money runs out, you stop spending until the end of the allotted period (generally one to
two weeks, depending upon how you are paid). A regular peek at the amount of cash left in each envelope is a vivid reminder of your budget commitment. If credit has become a habit, then you might even do something drastic, like cut up your credit cards. Mint.com also has a great, free app to help you track your budget.

Impulse Buying

Nothing busts a budget like impulse buying. If this is an area where you struggle, it’s important to be proactive and address the issue before you take action.

If you don’t drive to the mall and go to your favorite department store, you won’t be as likely to spend unbudgeted money. So determine to practice the habits you’ve been learning every day so you will have to internal motivation needed the next time you are tempted.

Comfort Spending

Many couples indulge in comfort spending on clothes, sports equipment, expensive restaurants, and excessive entertainment, to name a few. This unhealthy habit of throwing caution to the wind just to live in the “now” is a budget buster that will keep you living in debt. However, most of us do not reform our unhealthy habits overnight.

At the very least, begin to modify and become more intentional about these comfort indulgences. Even cutting back on some of this kind of spending can add up positively.

What is one thing you can do this week to stay on budget?

Ellie Kay is a regular expert on national television with ABC NEWS NOW’s Money Matters and Good
Money shows. She is also a national radio commentator, a frequent media guest on Fox News, and CNBC, a popular international speaker, and the best-selling author of fourteen books including her newest release, The Little Book of Big Savings (Waterbrook, 2009). For money savings links, or to view Ellie’s blog, go to www.elliekay.com.

Graphic in Text, adapted, Image courtesy of Stuart Miles at FreeDigitalPhotos.net.

The Health and Wealth Connection

Ellie Kay’s new book, co-authored with Danna Demetre, offers wisdom principles from the Author of Life. In Lean Body, Fat Wallet, they help us upgrade two key areas of life: health and finances.

“It is as important to be fiscally fit as it is to be physically fit—but spiritual health trumps all else,” Ellie said.

Ah … I’m glad Ellie added that last phrase. When we are spiritually in tune with God, He gives us wisdom for every area of life.

Ellie continues …

One of the best ways to get our health and wealth in order is structure our lives according to Biblical principles. For example, Romans 13:8 says, “Let no debt remain outstanding, except the continuing debt to love one another.”

We are encouraged to love each other and to have no financial debt other to care for each other with a God-sized love. Furthermore, we can do a better job of caring for others if we are physically healthy enough to do the work and financially healthy enough to support the work.

The beginning of a Lean Body and Fat Wallet lies in getting rid of consumer debt.

Getting out of debt is like going on a diet—it may sound simple, but it sure isn’t easy.

The only thing that really works is to:  spend less and save more.

Proverbs 22:7 says, “The rich rule over the poor, and the borrower is servant to the lender.” Debt doesn't benefit a marriage, a family or your future. Just as being overweight leads to health and emotional concerns, so debt has its consequences as well.

On the other hand, those who have a low debt load experience many benefits.

• There are fewer arguments over money their households.
• You can answer your phone and not worry about having to screen calls from creditors.
• You also have the freedom to financially bless others in need.

Stepping on the Scales: How to Know If You’re Financially Overweight

Maybe you’ve thought, “Hey, I’ve put a few dollars here and there.” There’s no more effective way to see if you have a problem, than as stepping on the scale.

You need to go on a debt diet if you:

1. Use credit card cash advances to pay for living expenses.
2. Use and depend on overtime to meet monthly expenses.
3. Use credit to buy things that you used to pay for in cash (i.e. groceries, gasoline, clothing).
4. Use the overdraft protection plan on your checking account to pay monthly bills.
5. Use savings to pay bills.
6. Use one credit card to pay another.
7. "Float" the bills: you delay paying one bill in order to pay an overdue bill.
8. Pay only the minimum amount due on charge accounts.

Consider making an appointment with the counselors at NFCC.org (National Foundation for Credit Counseling). You can also get out of debt sooner by reducing spending and repurposing those funds. As soon as you save in one area, immediately channel the money saved toward your debt load. If you don’t take that saved money and put it toward a credit card or other debt, then it will just get reabsorbed into your spending.

By following these biblical principles of good stewardship, you will find yourself with a Leaner Body and Fatter Wallet as well as the freedom that comes from living a healthy and wealthy life.

Do you need to go on a debt diet? Which of Ellie’s points do you think would help you the most?

Ellie Kay is a regular expert on national television with ABC NEWS NOW’s Money Matters and Good Money shows. She is also a national radio commentator, a frequent media guest on Fox News, and CNBC, a popular international speaker, and the best-selling author of fourteen books including her newest release, Lean Body, Fat Wallet (Thomas Nelson, 2013). For money savings links, or to view Ellie’s blog, go to www.elliekay.com.

Four Habits to Transform Your Body and Bank Account

Transform your body and bank account? How are they related?

My friends Danna Demetre and Ellie Kay explain in their book, Lean Body, Fat Wallet, how to transform (UPGRADE!) these two key areas of life.

Danna shares in this Upgrade post: “Losing weight and keeping it off. Getting fit and staying that way. Paying off consumer debt and remaining debt free. Isn’t that what we really desire – permanent, positive change?”

Although there is only one direct scripture reference in the text, the authors' biblical worldview about these practical matters is clear and helpful. I took an advance copy of Lean Body, Fat Wallet on a cruise in October, and followed their advice. To my delight, it helped me make better choices at all the cruise buffets and souvenir stores!

Danna continues …

Spending more than we have creates debt (and stress), and eating more calories than we burn results in lots of new fat storage. Yet this knowledge is rarely enough to motivate most people to change. Simple “self-discipline” is not so simple. Experts say that it we have limits on our capacity to exert self-control too long or too often. That’s the bad news.

My co-author, Ellie Kay—America’s Family Financial Expert—and I discovered that the same things that drive us to eat too much or fall into a sedentary lifestyle also propel us to spend too much and save too little; and the practices that help us get and stay healthy are similar to those which help us manage our money more responsibly.

In Lean Body, Fat Wallet, we share four habits that can transform your body and your bank account. They are:

• The You Are What You Think Habit
• The 3D Habit
• The In and Out Habit
• The Sustainable Lifestyle Habit

Habits silently influence our emotions and behaviors as if we are running on automatic pilot. The first and most important habit of all is the “You are What You Think” habit. It is foundational to the other three—my focus for this article.

You can begin to change your bad habits by changing how you think. When the new healthy habits of the mind are coupled with effective daily practices, amazing results can be experienced.

With the advances in brain science, we now understand that in about 21 days, the neuron pathways within the brain begin to physiologically change. If an old dominant message is ignored, the neuron pathway associated with that thought begins to atrophy. If a new message is repeated day after day, it will stimulate that neuron pathway to enlarge. Amazing.

For unhealthy thoughts to lose their power, you must squelch those thoughts and replace them with new healthier ones day after day for an extended period of time.

Over twenty years ago, I became fascinated with a story I read about Shad Helmstetter, Ph.D. In his personal research about high performance athletes, he discovered some Eastern European Olympians had full-time self-talk trainers that helped them develop new messages to drive them toward optimal levels of performance.

Helmstetter decided to try this method out on his battle of the bulge. He wrote detailed scripts related to healthy eating and living and had them professionally recorded in a studio. He began listening to them every morning while he shaved. Over a 10-week period, he lost 38 pounds—and never gained them back. More amazingly, his wife who was putting her makeup on at the same bathroom counter lost 25 pounds, eavesdropping on his self-talk messages!

When I heard this story, some of the dramatic changes I’d realized in my own life—both my ability to overcome panic attacks as well as the lasting victory I’d won over emotional eating and bulimia—started to make sense. I had been practicing healthy self-talk for many years without even knowing what to label it. In my case, I replaced old destructive messages such as, “I can’t stop eating. I’m losing my mind. I’ll never lose weight,” to more constructive ones such as, “I am in control of my food choices. I can eat small amounts and be very satisfied. My mind is strong and I am not afraid.”

After one year, the panic attacks were gone. Over the next few years, I gained total victory over not only bulimic behavior, but emotional eating altogether.

You’ve probably heard and even used the cliché, “Practice makes perfect.” A more accurate observation is:  Practice makes permanent. Whatever we practice continually will become ingrained in our neuron pathways.

Many people don’t know how to implement healthy thinking in a practical, time-efficient way. The four simple steps below are a great place to start to build a new, strong and positive habit.

1. Identify the lies you believe. (Follow the trail of persistent negative emotions.)

2. Take your negative thoughts captive. (Stop dwelling on them.)

3. Construct new healthy self-talk to counteract the lies. (It is well worth the effort.)

4. Repeat your healthy self-talk until new, dominant thoughts form—day after day after day.

What new habit do YOU want to build today?

Note: Have you considered what habit change would most transform your body or bank account? Leave a comment here, or on the Upgrade Facebook page to be entered into a DRAWING for Danna and Ellie’s new book, Lean Body, Fat Wallet (an advance reader’s copy). Drawing on November 18.

Danna Demetre is a former registered nurse and fitness professional with over thirty years experience coaching others toward healthier lifestyles. She’s a popular conference speaker, former health radio host and the author of several books to include Scale Down. You can learn more about her latest book, Lean Body, Fat Wallet at: www.leanbody-fatwallet.net