Ellie’s
Kay book, Living Rich for Less,
was written in 2008 but I recently came across the audiobook at my local
library. I have a long commute to and
from work so audiobooks help me to pass the time when I am stuck in traffic. I am offering a review because I gained a lot
of insight and information from her book.
As a working mother, I am
constantly focusing on ways to stretch my dollar while saving and offering to charity. I strongly believe that giving leads to good
karma and life experiences and time has shown that to be true for me at least. In particular, Ellie’s 10/10/80 idea stands
out for me. In a nutshell, give 10%,
save 10%, and live comfortably on 80%.
Obviously, there is more to this than a simple concept so Ellie goes on
to share ways to reduce and eliminate debt with this formula and how to stretch
your dollar further.
Ellie starts off by telling us to
get our priorities right. She strongly
encourages the 10/10/80 plan and reminds that giving comes first, no matter what. Even a family in a low income situation can
give and Ellie lays out how. She dives
into the important idea of saving and determining where money goes and how to
make money work for us.
I enjoyed reading about Ellie’s
formula about giving, saving and spending smart and I took many ideas with me
about the 10/10/80 plan. I wish that she
would have focused a little more on saving and also talking about how the 10/10/80
plan works families who are just getting by especially single parents. While
her book is a great resource, I struggled to find a plan that works for
me. I think that Ellie’s formula needs
to offer a concise plan that can help people to find a budget that works for
their individual situation.
You also check Ellie’s website
for a financial resource
center with information including financial calculators, budgeting
information and charts, and information about investing. You can also find more information about Living Rich for Less
at Elliekay.com.
