Living Rich for Less by Ellie Kay is the blog tour book review for this week. While I’ve never heard of this author before, she must be a well known personality since the book says she has been on talk shows, morning news shows, and other such places. If you have read very many budgeting, frugal living, or other such books, most of her information will not be new to you. We have lived on a budget for nearly 20 years now and have been debt free most of that time. Even so, I found a few pieces of new information in this book and have been reminded of a few things that I’ve forgotten about over the years for which I have made a note to inquire about in the new year. The slogan on the front of this book is “Create the lifestyle you want by giving, saving, and spending smart. I took time to mark a few quotes as I was reading the book so that I could share them with you:*For every family that becomes financially solid, we build a firmer economic foundation for our country. (my note – I couldn’t agree more and I’d say our country is in desparate need of some firm foundations given the current economic situation.)*Living rich, for the author, meant finding the supernatural balance between needs and wants and between contentment and desire. *10/10/80 rule:
With the first 10% of your income, practice The Rule of Giving 10 Percent. Her philosophy being that the sweetest dollar you ever make is the one you give away.

With the next 10% of your income, practice the Rule of Saving 10 Percent. Her philosophy being that the safest dollar you ever make is the one you put away.

With the other 80% of your income, practice the Rule of Spending Smart. Her philosophy being that the smartest dollar you ever make is the one you spend well.

*There is an interesting chart in the book regarding proportions showing what the average family would need to give to equal proportionally what a very wealthy person gives. I was surprised at the numbers.

*Momnesia – I was THRILLED to find out there is actually a term for the conditions for which I suffer – calling the kids by the wrong name, putting my house phone in my purse when heading to town instead of my CELL phone (LOL), forgetting to put the car in gear and wondering why the car isn’t moving, etc… ok.. that’s probably MORE info than I should probably admit here on the blog… but there you have it. I have Momnesia and a bad case of it at that! I hadn’t expected to find anything in regard to my memory issues in a book about finances (LOL).

*For those hoping to get out of debt, Ellie’s R.I.C.H. Principes are fully explained:
R – Redemption: Claim financial redemption, and admit you have a problem.
I – Instruction: Submit yourself to wise instruction.
C – Commitment: Absolutely commit to put any unexpected income toward debt repayment.
H – Hope: Befriend a companion named Hope. For each of these categories she offers LOTS of information with chapters on developing a workable plan, funding a dream, saving for the future, slashing insurance, how to save money on groceries and clothing, eating out affordably, travel and entertainment deals (many of which we’ve already used to go on any of the numerous vacations we’ve gone on the last few years), attaing and maintain the house of your dreams, and leaving a legacy.

* There is an ART to shopping and you can become a great artist! FINALLY a book that confirms what I have thought for YEARS! Many of the things suggested were not new to me. For example, NEVER settle for full price at the stores. Just this Christmas season I have saved LOTS of $$ by simply asking for a lower price. At a local sporting goods store, we found a purse that Emily wanted (she already knows about it so it’s ok to post it here even though Christmas hasn’t come yet). So, I asked the department manager if she could come down to $xyz and she said yes. Later that day on the same shopping excursion, I inquired about lower prices on several items at Kohl’s which they lowered, and at other department stores. I was only turned down a couple of times and then I simply thank them and usually decide to shop elsewhere. The girls always laugh because I rarely ever pay full price for anything. They say they’re too embarassed to ask for a lower price. Not me. Tim has worked too hard for the $$ we have and I consider it my job to get as much out of that $$ as possible! In the book, Ellie talks about how her family went from being quite aways in debt to being totally debt free when she made it her job to save $$.

Overall, I did enjoy this book. However, I found the tone to be rather condescending. I can’t quite put my finger on why. I suppose it’s just all the references to Ellie being “America’s Family Financial Expert” and other similar things that seem to indicate she’s the only providing this type of information and that it’s new information. Obviously, she’s not the only one with this type of message. As I said in the beginning of this review, for those who have been on a budget or have been reading any financial health books, most of this information is NOT new info. That being said, I absolutely agree with the principles in her book and would highly recommend it to anyone wanting to get out of debt or find more money to save and apply toward living well now if they are already out of debt.

I have 5 of these books to give away. If you would like to be in the drawing for one of them, please leave a comment. I will do a random drawing on Monday, Dec 29th.