A Financial Education Event
     

Before You Say “I Do” – Premarital Financial Counseling

“Bye, bye!”  I smiled and waved from the front porch, Bob by my side, “Nice to meet you!”

Speaking like a ventriloquist, I continued to wave at my son and his girlfriend,

“I give It less than one week” I told my husband, “two weeks tops.”

Bob smiled, giving his very poor ventriloquist rendition, “I don’t know, she was, ah, very conversational.”

“Yeah,” we turned to walk back in, “and her favorite topic was herself!”

We had just entertained one of our sons and a girl he brought home to meet us. In our family, we are predisposed to like the significant others that our children bring home because our kids have very good judgement. Contrary to popular belief, we aren’t sitting on “no” when it comes to these friendships that could blossom into something more.

One week later, we got a call from our son letting us know that he and the girl were not going to work out.

“Yeah,” our son reported, “I realized that the only thing we had in common was that we both thought she was pretty.”

The Kay whammy had struck again.

“What is the Kay whammy?” you ask.  It’s pretty simple, when our kids bring a special person home to meet our family, they either stay together for life and get married. Or, they break up within two weeks.

We are an intense family and we tend to drive away the faint of heart. But we are also a loving, loud and loquacious family and that attracts the brave hearts.

When it comes to a spouse, our kids look for certain qualities and when they get serious, we ask for a credit report.

I’m kidding.

Not really.

Knowing your future mate’s money habits is a significant part of deciding if they are a “forever” friend or not. Since “money matters” is cited as the #1 reason for divorce in America, it’s important to be on the same page regarding this topic. So far, all of our kids have opted for premarital counseling before the big day and this counseling should include the topic of money management. Find a local Accredited Financial Counselor ® an AFC ®, who is trained to handle all these topics and more. For more information about the accrediting source for this accreditation, listen to an upcoming episode on The Money Millhouse podcast interview we had with Rebecca Wiggins, the CEO of AFCPE.

Then add this counseling to your calendar as an important “to do” before you say “I do.”

Here’s a quick list of the financial topics that should be covered before you say I do.

8 Topics to Cover in Financial Premarital Counseling

Your Family of Origin’s Attitudes Toward Money

How did your parents manage money? What did they teach you about money? Chances are good you may manage your finances the way that your family did and this may be different from your significant other’s point of view. Did your parents save, believe in tithing, pay cash for everything or did they live paycheck to paycheck? Hashing out the differences, finding the similarities and developing a new plan for you and your spouse will be topics you cover under this heading.

Your Spend Plan

Do you currently have a budget? Go over both of your current budgets. If you don’t have one, then that is also a discussion point. Decide on what a new budget will look like for you as a couple when you are married. There’s a great app I use called Mint that can be accessed and updated by both parties at any time. This is especially good for military families who are apart but want to keep track of mutual spending.

 Holidays, Birthdays and Vacations

How do you spend money on vacations and holidays? Some families spend so much on Christmas, that it takes until the following May to pay off that debt. Others never take a family vacation. Our family had a low-key Christmas where each child got three modest gifts so the emphasis could stay on the Christ child. Then we went all out on their birthdays where the child was so celebrated that it became a highlight of the year for them. All these different approaches will impact your budget and your relationship.

 Born Spender or Saver?

What is your money personality? You could take the Money Harmony Quiz to see whether you are a born hoarder, spender, money monk, avoider or amasser.  Bob was a born spender, I was a born saver and we made it work nonetheless. But it took a lot of discussion and an action plan to learn to live in harmony with an opposite type of money personality.

 One Checkbook or Two?

Are you each going to keep your own checking account or are you going to combine them? Who will pay for which bill? What about savings accounts and credit cards? Will those be combined or remain separate? Now is a good time to download my free Sixty Minute Money Workout to help you learn how to discuss this topic and others within a time frame that minimizes conflict and maximizes the work you are doing in this area.

 Your Credit History or Debt

You and your significant other need to bring your credit reports to a premarital financial counseling session. Depending on what is there, it may be a wee bit uncomfortable. I married into 40K of consumer debt I didn’t know about and it had a huge impact on our lives together. Your mate may not count student loan debt as debt and you may find out there is an 80K loan that will impact your marriage. You can get a copy of your credit report, once a year, for free at Annual Credit Report and get one for each of the three reporting bureaus at this site. You can also get a copy of your credit score (different from a report) at Credit.com where they will also tell you ways to improve your score. Be prepared to enter your social security number to get this information. Talk about these debts and discuss a repayment plan.

Long Term Financial Priorities

My adult daughter says that life is about investing in experiences, not things. Her priority is travel over a newer car or designer clothes. Her husband’s priorities are slightly different because he’s a born saver. They learned how to discuss these diverse perspectives by doing a Sixty Minute Money Workout so they can get on the same page.  Your mate may want to buy a house as soon as possible and would forgo vacations to make that happen. You may not care that much about home ownership but really want to go home for the holidays. It’s important to discuss topics like housing, retirement, vacation and other long term goals before you get married. I like to say that you can have it all, but not at the same time. Bob and I chose to put our kids in private schools rather than drive new cars. Today, our kids are done with school and we drive the newer cars. We just have to choose the timing on our purchases.

 

Who Does the Math?

Someone is going to need to balance the checkbook, pay the bills and set up the budget. Yes, you should set up your spend plan together, you can even pay the bills together, but that’s usually the exception rather than the norm. One of you may be predisposed to balancing the books better than the other. One of you may actually enjoy paying the bills. In our family, I’m the financial expert and my husband flies jets, so you would think I balance the checkbook. But I also know that my husband needs to be aware of the bottom line because he’s the born spender, so he keeps the books and I review the statements. There needs to be a check and balance. One person should not have absolute control over the couple’s money. Sometimes, he who controls the money controls the house. So it’s important that both partners have access so that there’s no abuse of power.

Which of these topics have you already discussed with your significant other? Which topics still need to be explored? Set a day, time and topic to talk about money with your mate and don’t forget to get the free Sixty Minute Money Workout download.

 

Give the Gift of Investing

During the holidays, it’s a time of giving—and sometimes sorting. For example, this past week, I sorted my closet and gave away 10 bags of clothing, purses, belts, scarves and shoes. I did a quick reckoning and calculated that the original value of those items was a cool $1000. Many of those giveaways were once gifts from friends and family. I couldn’t help but think, “What if I was gifted with money in a savings account or an investment fund instead?” The answer is: “You’d be a lot better off and your investment would have earned money instead of ending up in a giveaway bin.”

This year, why not take $500 and open an investment account for someone you love? Give the gift of investing by getting a loved one a start in this key area of financial responsibility. Recently on The Money Millhouse, we hosted Brenna Casserly. Brenna Casserly is CEO and Co-Founder of Emperor Investments, a Toronto-based robo-advisor.

She helped us understand a lot about Emperor and how they work as well as other investment terms such as an ETF. Brenna said, “Think of an ETF like a black box. When you open the box you notice that it is filled with some really great companies and others not so good. When you buy an ETF, you buy the entire black box and unfortunately cannot just pick out the companies you wish to own.”

One of the reasons we like Emperor Investments is that Emperor was founded on the notion that investing is highly personal. Over the course of the last decade, Brenna and co-founder, Francis Tapon, have developed proprietary technology that builds personalized portfolios. This means you don’t have to know everything there is to know about investing, you’ll have a partner at Emperor who will help you decide which fund is best for your investment style and your financial needs.

For a limited time, you can open an account at Emperor and our non-profit, Heroes at Home, will benefit from your new account if you use this link to Emperor Investments for the Money Millhouse. We believe in this kind of investing so much that we gifted an account to others who need help in just getting started.

So instead of giving your friend or family member gifts that will end up in the giveaway bin in just a few years, give them an investment account that will be worth more than your original investment in a few years. The gift that will keep on giving.

Don’t forget to use our Money Millhouse link in order to benefit Heroes at Home, so that we can continue to provide free financial education to our military members around the world.

 

 

Honor and Celebrate our Veterans With #HonorThroughAction

In an effort to serve those that serve us, Heroes at Home and The Money Millhouse work to provide free financial education to our service members and their families. In the past, USAA has partnered with us and they continue to celebrate Veterans Day as a very specific occasion during which we can honor and celebrate those who’ve served and continue to serve our country.  Both of our organizations believe that celebrating our veterans encourages them to tell their stories about how and why they served in the effort to educate our public about our military community. Veterans Day stands as a reminder to celebrate the 20 million veterans (6 percent of our population) who have and continue to defend our country each and every day. We hope you will join us by taking a moment to honor veterans through a very simple action, share this with your followers, and invite them to participate as well. See the photo and this video to see who we are honoring from our families and why.

 

#HonorThroughAction

Celebrate veterans by following these quick and easy steps:

  • Draw a V on your hand, and the initials of a veteran you personally would like to honor
  • Snap a selfie – or have someone take the picture – showing your hand with the V
  • Share the photo on your social channels tagging and mentioning #HonorThroughAction, along with a message of appreciation for our veterans
  • Invite others to do the same as we head into Veterans Day… even tag and call out 2-3 you feel should act on this
  • For more background on this campaign to honor those who have served, go to www.usaa.com/VeteransDay

 Here’s a hint (from Ellie) about the veterans I’m honoring: I married one and gave birth to three!

Here are some more quick facts about Veteran’s Day:

  • Many Americans confuse Veterans Day with Memorial Day; Veterans Day is meant to give thanks to our living veterans while Memorial Day is a day to remember those who gave their life while serving our country.
  • One hundred years ago, peace came to the battlefields of Europe with the signing of the armistice between the Allies and Germany on the eleventh hour of the eleventh day of the eleventh month in 1918. This officially ended World War I – the war to end all wars.
  • In commemoration of the war’s end, Armistice Day was first observed on Nov. 11, 1919.
  • U.S. Congress passed a resolution in 1926 for an annual observance and Nov. 11 became a national holiday in 1938.
  • In  954, President Dwight D. Eisenhower issued a proclamation that changed the name to Veterans Day to honor everyone who took the oath in service to America and served honorably during war or peacetime.
  • “On that day, let us solemnly remember the sacrifices of all those who fought so valiantly, on the seas, in the air and on foreign shores, to preserve our heritage of freedom, and let us re-consecrate ourselves to the task of promoting an enduring peace so that their efforts shall not have been in vain.” – President Dwight D. Eisenhower
  • All around the world, countries commemorate Armistice Day which is also called Remembrance Day.
  • Traditionally, two minutes of silence are held at 11 a.m. on Nov. 11 in reverent remembrance of those who gave their lives for their country.
  • The Royal British Legion sells poppies from October through Nov. 11 as a symbol to help honor and remember those who’ve fallen in service.

Why Do We Love The Plutus Awards?

This week’s blog highlights the upcoming, prestigious, Plutus Awards for which our podcast, The Money

Millhouse, is a finalist in the category, Best New Personal Finance Podcast.

We also love the fact that the Plutus Foundation recently gave Heroes at Home a grant for our free financial education among service members.

Last year’s Plutus Awards emcee, Bethany Bayless, who is also the co-host of The Money Millhouse wrote the following blog that explains the background on the podcast and the grant.

 

 

 

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“Financial readiness is equal to military readiness.”

That statement is what compels the Heroes at Home team to continue their mission to combat financial illiteracy on military bases. It is also what persuaded Ellie Kay to found Heroes at Home, a non-profit organization that holds free Financial Education Events on military bases around the world.

To tell the story of Heroes at Home, one must always start with Ellie Kay, the founder and CEO of Heroes at Home, 501c3.

When Ellie married her husband 30 years ago, she got what she calls “a 3-for-1 deal.” She married the worlds greatest fighter pilot, and gained two step-daughters. Her husband, Bob, said, “Let’s join the active duty Air Force and we can see the world.” 

Ellie left her job as a broker and signed up for this life of adventure. What Bob showed her was 5 more babies in the first seven years of marriage and 11 more moves in 13 years.

Ellie also married into $40k of consumer debt. When they joined the active duty, Bob had to take a $30k a-year-pay cut, and Ellie had to quit her job as a broker. With child support and paying down debt taking up two-thirds of their single income, they were making the equivalent of an Airman First Class’s salary as a Captain in the Air Force. While being pregnant and constantly moving, Ellie made it her mission to save money by cutting coupons and keeping her family on a strict budget.

Through her diligence and perseverance, she was able to take her family to financial freedom and a debt-free life in 2.5 years. They have remained debt free ever since.

Using the concepts she learned through this journey to financial freedom, she started teaching others to do the same. Years later, she is now the best-selling author of 15 books, her work has reached one million people and as a popular international speaker, and she has delivered messages to 2000+ audiences as large as 10,000 people. As a media veteran, she’s given 2000+ media interviews including CNBC, CNN and Fox News, and her Heroes at Home program has reached thousands in the hopes to bring hope, help, and humor to military members and their families stationed around the world.

It was out of this that the Heroes at Home non-profit was born. While Ellie and her team was giving a Marine Corps spouse oriented presentation, a member of the A1 Air Force Leadership sent a representative to see the event in Quantico. They loved the message so much, they said that if Ellie was able to make a financially-centric event, they could roll it out to the Air Force.

What they came up with was a 2-hour presentation that was different than typical financial briefings. The program has 4 high-quality speakers that kept the material concise to fit in their 20-minute segments, while remaining entertaining and accurate. They cover a range of topics including general budgeting, credit reports and scoring, and saving for retirement. Though this program is geared mainly towards young Airmen, even senior ranking service members are able to learn new money-saving techniques.

In between each presentation, high-energy-millennial Emcee, Bethany Bayless, gets up and shares her favorite tips and tricks to save money via-apps and popular websites through a very unique presentation style. She also conducts a live Twitter party for each event, where audience members are able to tweet their favorite moments of the show. This allows them to stay engaged as the presentation goes progresses. At the end of the event, sponsors provide free gifts and door prizes, including books, gift cards, and in some cases, an iPad mini, are given away.

Partnering with USAA to start their events, the Heroes at Home team conducted their first Air Force tour to six northern-tier bases in 2015—often holding 2 separate events in one day. Thanks to corporate and private donations and grants from organizations such as The Plutus Awards, Experian, USAA and Credit.com, the team is able to provide this event completely free to all its attendees.

In preparation for each event, Ellie and her team fly out two days ahead of time. The day before the presentation, the team meets with Command Leadership to discuss base-specific issues to better understand the financial challenges as well as the mission of the installation. Through these meetings, they are able to tailor make each presentation to fit the needs of the men and women who serve on that base.

After the Command Meeting, the team embarks on a tour of each base. On these tours, the team is able to get hands on experience and meet Airmen face to face as they are on the job. It is through these tours that the team connects directly with the service members of the base. They have toured nuclear missile silos, visited flight lines, met working guard dogs, flown various flight simulators, and much, much more.

The most significant thing that makes Heroes at Home unique and different than any other financial presentation is the final segment of the show given by Ellie. She draws on her experience as a 30-year spouse of an Air Force fighter pilot and the mom to three active duty military sons, including a Marine Infantry Officer, an Air Force fighter pilot and a Mechanized Infantry Army officer. Ellie shares the 5 characteristics of a Hero and their Heroes at Home: a sense of humor, patriotism, courage, faith, and a legacy.

In this powerful part of the presentation, Ellie’s unique, powerful speaking style literally brings both laughter and tears to her audience. This final segment of the show has nothing to do with financial education, but everything to do with encouraging the military members and their families. The main message: We love you. We are proud of you. And Together, we are going to be okay.

Since their pilot tour in 2015, the Heroes at Home Financial Event has been conducted 51 shows on 33 bases in four countries with sponsorships from The Plutus Foundation, USAA, Experian, and other philanthropic sponsors. The Heroes at Home tour recently concluded their final event of the season at Pensacola Naval Air Station, speaking to an Air Force detachment stationed on a Naval Base. The room was filled with 300 uniformed military members listening to the presentation in the midst of the pending tropical storm Gordon.

After working in the space for several years, the Heroes at Home team also developed a fun, upbeat, podcast, The Money Millhouse, which is a high-energy show geared around money conversations. To find out more or to donate to Heroes at Home, please visit heroesathome.org. To find out more about the podcast, visit themoneymillhouse.com.

Receive Extra $$ Rewards & Grants as a Hero When You Buy, Sell, or Refinance

This week, to kick off our new podcast season on The Money Millhouse, we have a special interview with Joseph Kelly from Heroes Come First that share how heroes of all kinds can enjoy rewards and grants from a program that benefits Heroes at Home.

Enjoy this great information and be sure to share the following blog from our guest writer, Joseph Kelly, with a hero that you know.

Ellie Kay, Founder and CEO

 

You may or may not feel like it, but as a military veteran, active duty or reserve you are designated an American Hero, and that means you qualify for significant rewards you probably are not aware of when you take out a mortgage or buy or sell a house.

Most are aware that they have VA Benefits that include mortgage benefits.  And that program has some wonderful advantages.  But few are aware that there are additional benefits available that can give you an extra $2,000 to the $7,000 or more without any cost or added paperwork!

A national program called Heroes Come First defines heroes as people who serve their community. This includes active duty military personnel, veterans as well as  all current and former medical professionals (nurses, doctors, dentists, EMS, etc.), police officers, firefighters, first responders, teachers, and clergy.

Before I tell you how this reward program works please allow me to offer two key pieces of advice if you are considering buying a home in the next year that will save you from added stress and confusion.

1st Key– BEFORE you find of call a realtor and start looking at homes GET PRE-APPROVED from a trusted, reputable, recommended lender. (if you desire we offer this in all 50 states). Get your questions answered on your qualifications, credit, savings, options, etc. BEFORE starting to look at properties.  This will allow you to make adjustments if needed and be prepared to speak to real estate professionals who will have confidence in working with you.

2nd Key– Using sites like Zillow, Realtor.com, etc. are great tools to see what properties are out there however I encourage you to be VERY CAREFUL before entering your contact information on these sites.  Read the “fine print” at the bottom of the website.  These companies will sell your information to multiple lenders and realtors who then will call you and email you for months!  While some of these companies be ones you wish to consider it can be overwhelming and confusing as lenders buy your information as a “lead.” (FYI the program we are about to discuss does NOT sell or provide any information to other companies)

How the rewards work …

Buying a Home

There are several ways that the Heroes Come First program saves you time and money when you purchase a primary or second home or an investment property and get a mortgage to finance the purchase.

If you, or another hero you know, is thinking of buying in the next 12 months the most important first step is speaking to a pro-hero lender and getting “pre-approved” for your financing. The Heroes Come First team can introduce you to a participating lender who focus on heroes with both financial and added service rewards to get you on the right track for your purchase.

Benefits include:

  • You get a Lender Hero Reward of a minimum of $500 – $1000 toward closing costs.
  • Work with a pro-hero realtorand receive a portion of the realtor’s commission. For example receive $700 for every $100,000 in the sales price, which is a rebate of a quarter of the realtor’s commission. So if you were to buy a home worth $300,000, you would get a check for $2,100; if the home you buy costs $600,000, you receive $4,200.
  • You can earn a discount over usual title fees, averaging about $350, from the title companies that participate in the program.
  • You may qualify for a Purchase Grantof up to $10,000, to be used toward the down payment on a home or closing costs. This grant does not have to be repaid. 

Selling Your Home

When you sell your home, you get a break on all of the real estate fees that are usually part of the closing. The average reduction is $2,000, but it could be more for a high-priced home. The participating realtor that handles your listing rebates one quarter of their commission to you at the closing, which could amount to several thousand dollars more, depending on the price of the home.

Refinancing Your Mortgage

When you refinance your existing mortgage to get a lower rate and payment, you qualify for a Lender Hero Reward between $500 and $1,000, which is applied toward your closing costs. The lenders who participate in this program offer competitive interest rates in all 50 states, so you don’t have to compromise on settling for a higher mortgage rate to get these discounts. The participating title companies also offer discounts of up to $350 for title searches that are needed when you refinance your mortgage.

Example of Heroes Come First Savings

Real Estate Transactions:

  • Sell your home for $300,000
  • Purchase a new home for $450,000
  • Take out a $360,000 mortgage on the new home

Costs and Discounts:

Realtor’s rebate of selling commission:                                         $2,250

(25% of standard 3% commission)
Pro-Hero Realtor reward on purchase of new home:                  $3,150

(up to$700 per $100,000)

Lender discount on $360,000 mortgage:                                      $1.000

Title company discount for title settlement costs:                           $350

Total Savings: $6,750

  

Find out more

It really is simple to get started with the Heroes Come First program when you are in the market to buy or sell your home or refinance your mortgage. There are no restrictions, paperwork, fees, or fine print to read in order to qualify. Start the process by registering at www.HeroesComeFirst.com or call them at 800.272.5626 and they will refer you to a participating lender, title insurance companies, and realtors who serve where you live.

Know other heroes? Help them too!

The Heroes Come First program can help not only you but also other heroes you know. And if you tell other heroes in your life—like your children’s teachers, your local firefighters and police officers, or any veterans or active duty military you can be a hero to them by saving them a significant amount of money on their home transactions.

Since 1989 Joseph Kelly has brought a unique blend of technical, marketing, sales and leadership experience to the mortgage industry. As a graduate of the University of Virginia with a degree in Aerospace Engineering (yes….a rocket scientist), he realized that the mortgage industry was lacking a critical component – consumer education and programs to help increase savings and reduce debt through mortgage management.

Joseph Kelly is very proud of having three sons who are veterans.  Two Army and one Navy.  Their service inspired the development of a national financial program to help all military (active, reserve and veterans) receive mortgage financing advice focused on their long term benefit, not a one time “sale” for a mortgage company.

Heroes Come First was launched to include all of our nations heroes; Military (active, reserve and veterans), current & former Firefighters, Law Enforcement, Medical & Educational professionals and is dedicated to saying “Thank You”  in a practical & financial way when they Buy, Sell or Refinance a Home. 

It’s Academy Time! (#USAFA, #USNA, #USMA) – Part 3

The Resume and Essay

In the first two parts of this blog series, we talked about the steps you need to take to help your student maximize their opportunity to get into a service academy. In the third and final part of this blog series, as promised, we are sharing some additional examples of a resume and an essay that helped to successfully secure multiple nominations to multiple academies.

 

The Resume:

Once in high school, the resume fodder begins. Keep in mind that these schools are looking for the “whole person” approach and the resume will need to show accomplishments in academics, athletics, community involvement and leadership. Here is a sample of one of our son’s winning resume that garnered one million dollars in college scholarships from USNA ($425,000), USAFA ($425,000) and UCLA ROTC ($180,000).

Experience:

Lancaster City Youth Commission Chairman (this is legitimate, sworn-in commissioners for Lancaster City. It was after and application process, an interview, and a popular vote to get to chairman out of at least 50 top youth in the region)

Assistant Manager and tutor for Math Magicians in Quartz Hill  (July 2010-present)

Blockbuster Video (August 2009- August 2010)

Intern at the Honorable Buck McKeon’s office in Palmdale, (Summer of 2009)

Captain for DCHS Varsity Volleyball team for 2 years

Captain for DCHS Varsity Mathletes

Current Class Rank: 2 of 107

Cumulative, Unweighted GPA: 3.97, Weighted: 4.2

Over 1250 hours of volunteering since 9th grade

Summer of 2010

–  Attended the United States Air Force Academy Summer Seminar

–  Attended the United States Naval Academy Summer Seminar

2009-2010: Junior, Desert Christian High School

–  ASB, Activities Representative (Coordinator)

–  Vice President of CSF (California Scholarship Federation)(VP of 80+ members)(Is a position for a 12th grader, achieved in 11th grade)

–  Member of NHS (National Honor Society)

–  Varsity Cross Country (Runner, and Manager)

–  Varsity Soccer

–  Varsity Volleyball (Team Captain as Junior)

–  Varsity Mathletes (Starter)(year round)

–  Worship Team, Leader (In charge of 13 musicians), at Desert Christian High School, at The Highlands Christian Fellowship, and at Central Christian Church (playing Guitar, and Bass Guitar)

– Approved Tutor: Chemistry, Biology, Algebra I, Algebra II, Geometry, Physical Science, Math A, English 9, English 10, English 11, Spanish I, Spanish II, Spanish III

– Attended RYLA (Rotary Youth Leadership Awards)(Recommendation from School Administration, then accepted through application process)

Awards for Junior Year:

–  United States Achievement Academy: National History and Government Award in AP United States History

–  United States Achievement Academy: National Leadership Merit Award in Leadership

–  United States Achievement Academy: National Leadership and Service Award for being an All American Scholar

– ACSI Distinguished High School Student for outstanding Achievement in both Academics and for Leadership

(Note: All of these awards are based of raw data [grades, service hours, activities, demonstrated leadership] as well as multiple teacher recommendations. During this awards night, I was one of 3 people, of 400, to receive the last two awards)

2008-2009:, Sophomore, Desert Christian High School

– Varsity Volleyball

– Junior Varsity Mathletes, (Team Captain)

– Worship Team

– Honors English 10, Algebra II, Chemistry (All advanced courses, the only ones offered)

– World History, Spanish II

– California Scholarship Federation, Cabinet, Sophomore Class Representative (3.5 GPA and above)

– National Honor Society (3.2 GPA and above)

– National Honor Roll Award

– Chemistry, Biology, Algebra I, Algebra II, Geometry, Physical Science, Math A, English 9, English 10, English 11, Spanish I, Spanish II

2007-2008:, Freshman, Desert Christian High School

– JV Volleyball

– JV Mathletes

– National Honor Roll Award: Academics, Honor Roll

– Honors English 9, Geometry, Biology, Advanced String Ensemble-Cello (All advanced courses, the only ones offered)

– Spanish I, Freshman Studies (Speech and Health)

– California Scholarship Federation

– Worship Team Member

Education:

– Graduate, Desert Christian Middle School, 4.0 GPA (All A’s, no weighted classes offered)

-Student, Desert Christian High School. Expected graduation: June 2011

Special Awards/Recognition:

– National Honor Roll Award: Academics, Honor Roll

– International Foreign Language Award: Spanish

– Presidential Award for Academic Excellence

– Mathletes, Team Captain, 2007-2008, 2008-2009

– Student of the Month: Leadership (Freshman and Sophomore Year)

– Student of the Month: Genuineness (Junior Year)

– Desert Christian High School Letters:

-Varsity Cross Country, Soccer, Volleyball (2 years)

-Fine Arts (Advanced Strings Ensemble)

-Academics (3.5 or higher) (6 of 6 possible Semesters)

-CSF

-NHS

-Clubs

-Principle’s List: Freshman, Sophomore, and Junior years

The Essay:

It’s never too early to begin to think about what you would like to write in your admissions application essay. These are very important and should be well thought out before submitting. Be sure to have you liaison officer review it before you submit it or ask an academy graduate to help. It also wouldn’t hurt to have a faculty member from your school review it as well. More eyes on the project can mean a broader perspective, but it still needs to be your own voice, so you will have the final word on the essay.

The following is an essay that garnered another one of our son’s appointments to both USNA ($425,000) and USMA ($425,000) .

The Essay – Following in a Father’s Footsteps

In the military lifestyle, heroes beget heroes. There are so many families that have a history of military service, and oftentimes, military “brats” will grow into adults who have the desire to serve, as well. Here’s is Philip’s essay:

Growing up in a military home, I saw very little of my father at times. As an officer, he was often gone taking care of his troops, performing his duties, and faithfully serving his country. I never truly understood why he did what he did until his dream became mine. When I walked on the campus of the Naval Academy this past summer during the Summer Leadership Seminar, I saw greatness. I saw an institution that taught men and women to be leaders, thinkers, and people of character. But most important, I saw my cadet commanders as men of high leadership with a servant’s heart. They put our comfort ahead of their own, as my father did with his men.

All my life I have dreamed of one day leading hundreds or possibly thousands of men and women. I have sacrificed much in the process of becoming a competitive candidate for the academy. It was not Summer Leadership School that made me want to be in the military, it was my father’s integrity and service. However, it was the midshipmen that I met that made me determined to attend Annapolis. It was my goal to become an officer; now it is my goal to become a warrior and a gentleman, in the finest sense of the word. To learn “Integrity first, service before self, and excellence in all we do.” I desire to carry on the legacy of the service academies and to achieve a sense of accomplishment that no other college or career can offer.

Many nights I would stay up late, wondering if my father would come home or be deployed. I wondered if he was okay, or if it was his life that had been taken in one of the plane accidents that occurred in his various Air Force squadrons. However, these experiences did not make me turn against the military—it was quite the opposite. I began to see my father as someone very different from my friends’ fathers. I saw him as a warrior and a true hero. So many times I read about or see the actions of evil men. These are men who would not hesitate to strike down those whom I have come to love and cherish. I knew there was only one thing standing between me and those men—it was my dad. It was men like my father and those with whom he served that rose to stand up to people who seek to destroy everything we hold dear. I knew that I was called to be one of those men who took a stand, and I know it is the service academies that will teach me to stand, and to stand strong and proud.

“The ultimate measure of a man is not where he stands in moments of comfort, but where he stands at times of challenge and controversy.”—Martin Luther King Jr.

It’s Academy Time! (#USAFA, #USNA, #USMA) – Part 2

In part one of this series, we looked at the process and requirements to get into a service academy. This is the second part of a three part series on how students can get into service academies shared from the perspective of a mom of three Academy appointees (#USNA-2011; #USAFA 2015, #USMA 2017) and also a woman who happens to be an Admissions Liaison Officer for the United States Air Force Academy. 

Nominations and Appointments 

Admission to one of the service academies requires both a nomination from one your nominating authorities and an appointment from the academy the child wishes to attend. I would strongly suggest that the child also contacts your Congressman and Senators to request a nomination and contact the academies to express their interest. There are also Vice-Presidential and Presidential nominations available. If the student is the child of a retired military member or an active duty member currently serving with at least 8 years of service, then they should also contact the academy directly to apply for a Presidential nomination. Furthermore, a child would also qualify for the Presidential process if their parent is currently in the reserves serving as a member of a reserve component and credited with at least eight full years of service (a minimum of 2880 points).  Both of our sons competed to receive these nominations. They are limited in number and highly competitive, but well worth the effort.

To apply for a nomination through a congressional office, you will be required to completely fill out an application packet (see your representative’s website). To be eligible for appointment, you must be an American citizen, at least 17 years old and not yet 23 years old on July 1 of the year you enter an academy. Also, you must have no legal obligation to support children or other dependents.

All applications are usually due in October. Then the offices will conduct interviews during the months of November and December. The nominations will be announced in January.

The Interviews

If you are a prospective candidate for any of the military academies, you can anticipate two of the most important interviews you will ever have in your life: the Congressional or Senatorial Interview and the Liaison Officer interview.

Come to these interviews in a suit with short hair if you are a male and a conservative hairstyle if you are a female. Sometimes the interview can make or break a candidate’s chances of garnering an appointment if all other aspects of the competitive field are equal. A good interview can make you stand out or fall out—it all depends upon the amount of work you put into it.

As an ALO, I advise my candidates to write out answers to the following questions and practice them by themselves in clear, direct, brief answers. The next step is to go over the Q&A with a parent and solicit their inputs on how to improve the interview skills. Ask the parent to count the number of “uhs” and “ums” and “likes” to remove these from your vocabulary.

Next, ask your school counselor or Scout Master to set up a mock interview with teachers and administrators (or JROTC commanders) to go over these questions. Then, you’ll be prepared to knock it out of the park in your real Congressional or Senatorial and Liaison Officer Interviews.

Interview Practice Questions

These are not necessarily the interview questions you will receive in your evaluation interviews. But if you know the answers to these (especially those highlighted), then you’ll be well prepared for a panel of interviewers as well as a one on one with your Liaison Officer.

Why do you want to go to the Air Force academy?

Why do you want to serve in the military?

What are your greatest strengths?

What are your greatest weaknesses?

What accomplishment are you the most proud of?

What do you want to do in the Air Force and what is your backup plan if you cannot fly?

Who is your favorite leader?

Define integrity.

Define leadership.

Rank the service academies. Why do you rank them this way?
If not an Academy, how about ROTC? Why or why not?
When and how did you first get interested?
Describe your typical daily schedule.
How does your family feel about this?
Which parent or other adult has the most influence on you?
Have any relatives or friends of the family attended one of the academies? Who do you know in the military? What have you learned from them?

What will be your career? Why?
How long do you think you’ll remain in the military?
What’s the importance of integrity in the service? Examples?
Favorite subjects in school?
Describe your extracurricular activities.
What do you read for enjoyment? Why?
What community service do you do? Why?
How would your best friend describe you?
Who motivates you the most?
Describe your leadership style.
Are you a good follower?

What is your best leadership example?

Your worst? Your hardest leadership experience?

Explain the Academy’s Honor Code.*

*Look this up online to know the Honor Code.
Describe your sports participation.

What are your major life goals?
What have you done to research more about the Academy? The Service?
What is the best thing you have to offer to the Academy?
Describe a time you tried to lead but failed. What did you learn?
Describe your worst stress situation.
Give examples of how you’re a self-starter.
To whom do you look for good advice?
How do you manage and organize your time?
What’s the purpose of the US military?
What changes has the US military been through recently?
What changes will the US military soon have to adjust to?
What would your harshest critic tell us about your potential at an Academy?

If you could do one thing over in your life, what would that be? Why?

The Liaison Officer

Each military academy will assign an officer to assist you in the process of applying.  The McCormick brothers featured in the picture were two of my candidates as an ALO. Each Academy has a different title for their respective liaisons:

USNA: Blue and Gold Officer

USAFA: Admissions Liaison Officer (ALO)

USMA: Military Academy Liaison Officers (MALO)

Merchant Marine Academy: Admissions Field Representatives

Coast Guard Academy:  Military Fairs Liaison Officer – (Please note this academy does not require a congressional nomination.)

In addition to having to meet certain physical requirements, you will also have to be interviewed by this intermediary. I would encourage you to attend service academy nights that are hosted in your community and where you can speak with these officers. Our son’s “Blue and Gold” representative, LTC Jerry Geil, USMC (Ret), was an outstanding inspiration as he interviewed Philip for his candidate requirement. Make good use of your liaison. One will be assigned to you and should contact you once you have applied as an applicant.

Summer Leadership Seminar – For High School Juniors

In the summer between a student’s junior and senior year, each institution hosts an excellent program that provides an “up close and personal” view of the academy. These seminars are where your hero at home can compete to attend that will give them an idea of what life is like at that institution and it will also look great on a resume.  These applications are usually available in January at the academy’s website and should be turned in as early as possible. The applications are so involved that some have said they are an excellent precursor to the final academy application. Also, you will be in the system and a lot of this information will transfer over into that directory. Two of our sons attended two different academy summer seminars and it actually changed the mind of one of our son’s as to where he would attend. So feel free to look at more than one option. You will have to pay transportation to/from the academy as well as a camp fee ($300 to $400).

Join us next time for part three of this series, which will feature samples of the essay and the resume.

Please feel free to share this with a bright young person who might want to attend a service academy and please don’t forget to share your insights of what worked for you or your student when they got into a service academy!

It’s Academy Time! (#USAFA, #USNA, #USMA) – Part 1

This is the Academy time of the year—no I don’t mean the heat of summer, although this time of year is lovely in Southern California. But I mean it’s the time of the year when students begin to fill out applications to compete to get a little piece of paper in the mail worth more than $425,000. This would be an appointment to the Air Force Academy in Colorado Springs, the Naval Academy in Annapolis, West Point in New York or the Merchant Marine Academy and the Coast Guard Academy.

As both an ALO (Admission Liaison Officer for the Air Force Academy) and a mom of three sons who went to academies, I’m here to say that this is a VERY exciting time for applicants to work toward their appointment! I remember when my sons received theirs, we ate on “Happy Plates” (a Kay family tradition when we celebrate a family member achievement). If someone in your world is interested in pursuing this kind of a dream, then share the following insiders tips with them to maximize their opportunities to succeed.

 

Service Academies and Military Funded Education

A couple of our sons garnered one million dollars in scholarship offers, and in both cases two of those offers were from federal service academies.  These are highly competitive and look at the whole person. So it’s not enough to be a brainiac, they are also looking for students who are exceptional in the area of athletics, community involvement and leadership.  In return for this amazing education valued at $425,000, your student will be required to serve in the military for their “commitment” period. The commitment is a minimum of 5 years of service and can be longer, depending on a number of factors in regards to additional training after graduation. For example, our Air Force Academy grad owes 10 years of service because he went to pilot training to fly the F15E Strike Eagle.  If you have a “hero at home” who wants to go to a service academy, there are several things to keep in mind.

One of the first places to visit is your service academy’s admissions site:

USAFA – The United States Air Force Academy

USNA – The United States Naval Academy

USMA — The United States Military Academy

USMMA (Merchant Marine)

Coast Guard Academy (does not require a congressional nomination)

From Prospect to Appointee:  

  • Prospect:  A student who has filled out the initial response form showing interest. This means they are essentially on an admissions mailing list. You can fill this out as early as middle school by going to the academy’s website.
  • Applicant: The individual has filled out a pre-candidate questionnaire and provided initial info on PSAT/SAT/ACT scores, grades and extra-curricular activities. This is usually done NO LATER than the spring of their junior year. This is also the time to contact your congressman and senator in regards to a nomination. In addition, if the student’s parent is qualified for a Presidential nomination, (see nominations and appointments below) then the student can contact the academy directly to pursue this nomination as well.
  • Candidate: To move from applicant to candidate indicates that you have cleared your first competitive hurdle. This step is decided by the Academies admissions staff in the early summer of a student’s Senior year. Not all students will get to this point, but this is when they will be interviewed by the Academy Liaison Officer (or the equivalent). It is from this list that appointments will be offered as early as the fall. For example, one of our sons was offered an USNA appointment by October.
  • Appointee – This means that the candidate has been offered an appointment into the Academy. They can choose to accept it or turn it down, but it means they have not only received an official nomination, but they have also been approved by the Academy’s admissions board and offered an actual appointment.

Basic Requirements

It’s important to check the specific military academy website for updated information on your desired academy, but in general, here are the basics that you will need before you even consider applying:

  • A United States citizen
  • Unmarried with no dependants
  • Of good moral character
  • At least 17, but not past your 23rd birthday by July 1 of the year entering.

Recommendations

Because it is so incredibly competitive to gain entry into a service academy, the following high school courses will help make the applicant more competitive:

  • Four years of English
  • Four year of college-prep math
  • Four years of lab science
  • Three years of social studies
  • Two years of a foreign language
  • One year of computer study

Character

One of the academies defines character as “One’s moral compass, the sum of those qualities of moral excellence which compel a person to do the right thing despite pressure or temptations to the contrary.” (USAFA) They also define leadership as “The process of influencing people and being responsible for the care of followers while accomplishing a common mission.”  These academies are looking for future leaders with the highest moral character possible.

Diversity

Academies are looking for people from a wide variety of life experiences and the word “diversity” at these institutions no longer applies exclusively to race or cultural background. USAFA defines diversity as: “a composite of individual characteristics that includes personal life experiences (including having overcome adversity by personal efforts), geographic background (e.g., region, rural, suburban, urban), socioeconomic background, cultural knowledge, educational background (including academic excellence, and whether an individual would be a first generation college student), work background (including prior enlisted service), language abilities (with particular emphasis on languages of strategic importance to the Air Force), physical abilities (including athletic prowess), philosophical/spiritual perspectives, age, race, ethnicity and gender.

Join us again for part two of this blog series when we will cover nominations and appointments, The Liaison Officer, and Summer Leadership Programs. Please share this blog with someone you know would love to attend a service academy and who has the potential to be among the best and brightest in our nation who will be offered appointments.

Mother’s Day and Working Mom’s – What Is Your Time Worth?

When I married my husband we had five babies in seven years and moved eleven times in thirteen years. I also had two stepdaughters for a total of 7 children to support. I left a nice job as a broker to have a more rewarding career as a SAHM (stay at home mom). One of the questions that I frequently heard was: “Do you work?”

“What do you mean do I work?” I would think even though I politely answered, “Yes, I work very hard as a stay at home mom.” Sometimes, an unsuspecting troglodyte would go on to say something totally thoughtless such as “Well, I meant do you really work. Do you have a job?”

I would bite my tongue until it bled….

What I wanted to say was, “What do you mean do I really work? I work a heck of a lot harder that you do, mister! I’m an accountant, a contract administrator, a chauffeur, a teacher, a nurse, a soccer mom, a stylist, a wife, and a chef! Plus ten other job specialties! I do all these things as a mom—I’M A CEO MOM, MISTER!”

They usually didn’t ask the same question twice.

These days, as a financial writer & speaker, the Founder of Heroes at Home, podcast co-host at The Money Millhouse, a Admissions Liaison Officer, —and a mom, I’ve talked with scores of spouses who work outside the home because of the status of our economy and by necessity–not choice.

Each year, Salary.com issues a report on what a mom’s time is really worth. According to this site, “Based on a survey of more than 40,000 mothers, Salary.com determined that the time mothers spend performing 10 typical job functions would equate to an annual salary of $112,962 for a stay-at-home mom.  That’s a lot of worth associated with this great job of motherhood!

What is your time worth? You can log into a calculator that tells you what you would be paid on the economy for all the work you do as a SAHM or as a mom who also works outside the home and inside the home!

How effective is the mom’s work outside the home? Does it pay to work in today’s economy with rising prices and a modest hourly wage? Many spouses who move frequently do not often have the luxury of annual pay raises at the same company. For example, let’s look at Jennifer.

Jennifer was an administrative assistant who needed to work outside the home to make ends meet. She made an average wage of $9.50 per hour and felt she contributed greatly to the family’s finances. She only had one child in day care, traveled a short distance to work, and paid no state income taxes. Then Jennifer attended one of my Living Rich for Less seminars and was challenged with the idea of “crunching the numbers.” She completed the “Working Mom’s Compensation Chart” and was shocked.

The amazing fact Jennifer discovered was, by working full time–she was making $3 per week! She didn’t realize how those extra pizza nights (because she was too tired to cook), and the trips to the beauty salon (to maintain a professional hairstyle), and all those lunches (away from home) added up! She realized she needed to make some dramatic adjustments. She decided there was a better use of her energy and quit her job outside the home.

But Jennifer didn’t stop there. She implemented some money savings strategies found on this blog and is making ends meet at home. She has less stress in her life and the freedom to contribute to her family’s financial needs through saving money and by launching her own homebased writing business. In her case, a penny saved was more than a penny earned.

For more info on how to  plan for  a new baby,

listen to The Money Millhouse  episode with Tonya Rapley  

Once you come up with a figure, ask the big question. Is my time, energy and effort worth ______ dollars a week? It may be worth it and that’s great for you if it’s your choice.

Whether you are a SAHM or a mom who works outside the home—you’re work is priceless in terms of all you do for your family and for others. You deserve a Happy Mother’s Day! Thanks for your hard work, you’re leaving a legacy through your children that will last for decades to come.

Ellie Kay

America’s Family Financial Expert (R)

Financial First Aid Kit – Military Appreciation Month

In honor of military appreciation month, I’d like to highlight our Army son, Joshua. When he was born we started saying, “If he had been our first, he would have been our last.” That little boy had more energy and could get into more scrapes than all our other children combined. When he was eighteen months old, he stripped down to his diaper, took a plastic sword and chased his four older siblings around the house, thus earning the nickname “Conan, the baby barbarian.” By that age, he had also jumped off the top bunkbed (three stitches) and “flown” off our travel trailer (four stitches). Joshua was the reason we purchased a serious first aid kit. He’s now an Army Lt jumping out of airplanes at Fort Benning.

Just as every family needs a good first aid kit for those unexpected accidents, they also need a financial first aid kit, or practical ways to help safeguard their financial future.

  1. An Emergency Savings Account – This account is not an investment account, it doesn’t include IRAs, retirement accounts or CDs. Its purpose is not growth, but safety. These are funds that are accessed in the event of spouse unemployment, emergency home repairs, or unexpected auto repair bills. The best way to build this account is to establish a family budget. Go to your base’s Family Readiness Center to develop a budget for your current season of life. I recommend automatically transferring funds from a paycheck or checking account into a savings account every week. A good guideline is to save three months of living expenses for dual income households or six months for a single income family.
  2. Life & Health Insurance – For life insurance, you will need enough money so that your dependents could invest the money and live modestly on the proceeds. For military members, the best buy is still SGLI, or Servicemember’s Group Life Insurance. Members are automatically insured for the maximum amount of $400,000 unless an election is filed reducing the insurance by $50,000 increments or canceling it entirely.  Family Servicemembers’ Group Life Insurance (FSGLI) is a program extended to the spouses and dependent children of members insured under the SGLI program. FSGLI provides up to a maximum of $100,000 of insurance coverage for spouses, not to exceed the amount of SGLI the insured member has in force, and $10,000 for dependent children. The rates are inexpensive. If your situation requires additional life insurance or you are transitioning out of the military, look at USAA for the best rates for military members and their families. For health insurance, there’s healthcare.gov where you can find out about open enrollment season and how to get insurance plans changed or updated. Another good place to research a variety of plans is found at eHealthInsurance where you can compare plans. There’s also
  1. A Will –Here’s another easy one, that’s as easy as making an appointment with the JAG or taking advantage of mobile services that are sometimes offered at military conferences such as Yellow Ribbon. The main section of this critical document will assign a guardian for your children. In many states, the surviving spouse may only get one-third to one-half of the assets that were in your sole name. Your children get the rest and if they are minors, a court administrator could handle their money until they become adults. Make sure that the beneficiary designations on any 401(k) plans, IRAs, life insurance and bank accounts are also up to date. Another option is legal zoom, which can prepare a quick will at a low cost.
  2. A Retirement Account –A surprising number of military spouses, or reservists do not take advantage of the terrific tax-deferred accounts offered by their employer, which include 401(k) plans. The Thrift Savings Plan (TSP) is a Federal Government-sponsored retirement savings and investment plan and has great rates with low fees for administering the account It’s part of the new Blended Retirement System that is currently in place. This plan offers the similar tax benefits that many private corporations offer their employees under 401(k) plans and they are full portable upon leaving the military. Be sure your current TSP funds are not in the “G” fund for maximum benefit.
  3. A Good Credit Rating – The best way to rebuild good FICO, or credit score, is found in three steps: pay more than your minimum payment (even if it’s only $5/month more), pay a day early rather than a day late (set up automatic transfers from your checking account to your credit card company for minimum payments) and never let your available credit fall to less than 30% of the total credit available (for example, $2000 on a $6000 credit line.)  Each year, get a free copy of your credit report by going to Annual Credit Report or go into the base’s Family Support Center where they can also run a free copy of your report and check your score.
  4. A College Fund for Those Babies!–Select a college savings account that has low fees, a good selection of investments, plus a tax break. One of the many options is a Qualified State Tuition Plan, also known as 529 Plans. Be sure to research your state of record and their plans. These contributions will be tax-deferred and could even be tax-deductible from your state income tax if you are a resident of that state (check with your tax specialist). When the money is withdrawn for college, it is only taxed at the student’s income tax rate. If the child does not go to college, the money can be designated for another beneficiary or removed at a 10% penalty.

 

If you’re a family with a “Conan,” then make sure you have a First Aid Kit on hand. But don’t forget the fact that your family need a Financial First Aid kit as well.

I wanted to issue a special thank you to all our military families who serve, we appreciate you!

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