A Financial Education Event
     

How to Nail the 400K Interview

Do you enjoy working with tomorrow’s leaders? I sure do!

One of my many volunteer efforts is working with students who have a desire to go to a Department of Defense United States Service Academy such as Navy, West Point, the Merchant Marine Academy and the Air Force Academy (Coast Guard is not a DOD Academy and doesn’t require a Congressional Nomination.) An education that has a value of over 400K and is paid back in 5+ years of military service.

A key part of this process is the Admissions Liaison Officer (ALO) interview AND the Congressional interview. I’ve sat in on over 300+ of these interviews and I’ve thought “with some tips and coaching, these students could have done much better in this interview.” We recently participated in a zoom panel with several of these students and their parents.

Besides being an ALO and Congressional Panelist, I’ve also mentored the three Kay sons who graduated from Navy, Air Force and West Point. Here are some ideas that can help you (or your favorite student) go from good to great in high level, pressure interviews. These ideas are based on work I’ve done professional in Toastmasters, in 2800+ media interviews and in being the interviewer on Congressional panels that interview as many as 50+ students in ONE DAY.

Please feel free to share this blog with the student or person you know has a high level interview coming up. It’s written directly to them!

Best Practices, Tips and Tricks

Keep in mind, this is the most important interview of your life thus far. It’s worth approximately 400K+ (the value of a Service Academy education). This is a high-level interview and these tips are not official USAFA policy, nor have they been endorsed by USAFA. These come from 25 years as a professional speaker & corporate media trainer.

They are also based on my experience as an ALO (USAFA Admissions Liaison Officer) and Congressional Panelist, having interviewed/assessed 300 student candidates.  Besides our kids who graduated from USNA, USAFA and USMA, our other civilian children who graduated from Stanford, Columbia, UTA, &  Moody Bible Institute. All of our kids had interviews involved in their education and all got substantial scholarships to graduate debt free from college.

  • Affirmation – Before the interview, practice some positive affirmations such as “I can do this” and “I’ve prepared for this” and “I’ve worked hard, this is going to be a great interview.” It doesn’t matter if you feel that way or not, just say it either out loud or in your mind. If you have a negative thought leading up to the interview,such as “I’m really nervous” or “I’m not looking forward to this interview” or even “I wish this were over.” Then stop. Reset your mindset and say the positive affirmations I mentioned at the beginning of this point. You could even create your own “Top Ten Affirmations” that you and your parents come up with to counter what I call “stinkin’ thinkin’” Your first three are already listed above.Henry Ford said: “Whether you think you can or you think you can’t—you’re right.”
  • Story Telling and Transparency – As you think through the answers to these questions, incorporate some of your own story that sets you apart. Are you first generation American—there’s a story there. Were you raised by a single parent? Did you have younger siblings to take care of? Did you help care for a family member who was ill or had special needs? Did you have a relative whose example inspired you to military service? Do you have a passion that motivates you such as going on mission trips, helping the homeless, fighting illiteracy or social injustice? Have your parents or mentor help you think through your story and learn to tell it in a way that will have an impact on the listeners.
  • Keep your answers to the ABC Model:

Accurate – Don’t tell anyone else’s story but your own, it will ring of insincerity. If you use numbers, make sure they are up to date. Don’t overstate your scenario. If you quote someone, then give attribution to that quote or story, you don’t want to pretend it’s your own.

Brief – You shouldn’t have an answer that lasts more than one minute. Otherwise, it

sounds like a monologue. But don’t give a “yes” or “no” answer either.  That’s too brief! A 30-45 second answer is ideal.

Clear – Even if you are using fewer words, you still want to be clear so that the panel understands what you are trying to communicate. Ask your parents if you really answered the question and ask them what they heard your answer to be. If they are hearing something different than what you are saying, then you need to rework the answer until you are clear.

  • Practice answering the questions and have your parents listen for the following:

Superfluous Words – parents count how many times they say filler words such as uh, um, ah or like. Work to eliminate these from your vocabulary with more practice. (Using filler words sends a subliminal message of a lack of confidence in what you are saying. )

The Robot – Don’t practice so much that you sound like a robot or like you are giving canned answers. This comes across awkward and/or disingenuous. You want to retain the element of spontaneity even if you have worked on some answers ahead of time.

The Timing – See above under the ABCs of answers (Brief). Parents can time your answers as you aim for a 30-45 second answer. This is just a suggestion and not a hardline rule. The best interviewees keep their answers long enough to answer the question but not so long that they sound like a run-on sentence.

Pacing – Are you talking too fast? This can come across as being nervous if you are a fast talker. The idea is to tell yourself to “slow down” as you are talking and then talk slower still. It “feels” strange to a fast talker, but it comes across as just the right pace. Unless you are from Texas (as I am), then you probably already talk slow enough.  

  • Take Your Time – If you don’t know the answer to a question asked, it’s ok to take a few seconds and compile your thoughts. Look to the side or look down briefly. I call this the “Ryan Seacrest Effect” where that emcee will put his fingers together, briefly look down, then look back up again. By breaking eye contact with the audience, his brain goes to a place where he remembers what he wants to say. It can also eliminate the “deer in the headlights” effect.
  • Complete Sentence – Take a breath, wait a few seconds, then start answering in a complete sentence. As you begin this way, an answer will likely come to you and you buy time in trying to come up with your answer. For example,  Question: What are your two greatest strengths? Answer: I would say that my greatest strength is…
  • Technical Issues – If this is a virtual call (zoom, skype, FaceTime) make sure you have good lighting (light should be BEHIND your computer/device shining on your face.) Check your sound, too. You may want to wear a headset or earbuds to cut down on feedback during the call. You can test these at www.zoom.us/test
  • Posture – Whether virtual or in person, you can improve your posture by sitting on the front half of your chair. Never sit fully back in the chair or you are more likely to slump. Sit up straight with shoulders back, but be comfortable as well. Too straight makes you stiff, too comfortable comes across as careless.
  • Appearance – You can wear a JROTC or CAP uniform (no Scouting Uniforms). It comes across as professional & shows what you look like in uniform.
  • Service Academy Interviews – Young men get a fresh (shorter) haircut, wear a dark suit, even if it is a virtual interview. White shirt, conservative tie. If it’s a new suit, make sure the thread stay holders are off the pleats in the back of the jacket. Just look at the pleats and if there are long threads there, holding the jacket in place, cut those out. Young ladies can wear a modest suit or dress (not a super short skirt). Neat hair (not trendy or brightly colored). Modest makeup (if you use it). Mid height heels (no higher than 3”). Nails should be plain or freshly painted (no peeling polish.) This is a professional look worthy of such a high-level interview.
  • Eye Contact – If in person, make eye contact with the interviewer that is consistent (but not so intense that it comes across as creepy.) If virtual, look for the camera and try to look into the camera.
  • More Information – For further research, I’ve created a three-part blog on how we helped the Kay brothers get into their respective service academies.

https://elliekay.com/wpress/2018/06/12/its-academy-time-usafa-usna-usma-part-1/

https://elliekay.com/wpress/2018/06/19/its-academy-time-usafa-usna-usma-part-2/

https://elliekay.com/wpress/2018/06/26/its-academy-time-usafa-usna-usma-part-3 /

Mock Interview Panel – Zoom/Skype/GoogleHangouts

WHY:  This is an opportunity to compile a group of people to interview the student. It simulates the pressure the student will feel at the Congressional Panel. If they can experience it once before it actually happens, it will give them greater confidence.

WHO:  Your parents, educators or JROTC Leaders can help get a group together. If you’re in Scouting, they could help put together a panel for you. About 3 to 5 people who join all at one time (probably virtually) to interview you. It will last about 20-30 minutes, depending on how verbose the interviewee and the panelists are during the interview and the feedback section.

WHEN:  Sometime before the ALO and Congressional Panel interviews. You can send out a doodle (organizer) to the panelists to get a date that works for everyone. www.doodle.com

HOW:  Let someone serve as the organizer (maybe a parent) who will send out copies of the questions provided in this document. The questions are numbered.  (Or even send this entire file so they know what to look for in the interview.)

  • The organizer will assign different questions (by number) to the different panelists ahead of time (dividing it up equally).
  • Everyone will join the call and the organizer will welcome everyone, then provide an order of who asks questions first, second, etc. Then the panelists take turns asking their questions and taking notes.
  • I suggest the organizer give a copy of all the questions to each of the panelists ahead of time so they can take appropriate notes.
  • Parents will count uhs, ums and filler words.
  • Each panelist can also add ONE question not on the file so that the student gets to answer extemporaneously (something they didn’t prepare ahead of time.)
  • NO feedback comments from panelists (other than questions) will be made DURING the interview. This is simulating a real interview.
  • At the end of all of the questions, the organizer will say “Thank you for coming today.” That marks the “end” of the formal interview. Next–the feedback session.
  • Then the panelists will take 2-3 minutes each to give feedback verbally. I suggest a “feedback sandwich.”  Say something encouraging first, then the “meat” of what needs to be improved, then something encouraging again. Please do not select panelists who are overly critical—this will not improve the student’s confidence. We are looking for constructive feedback, NOT constructive criticism and there is a difference. It’s the mindset of helping versus a mindset of being critical.
  • The panelists can scan and return their written feedback after the mock panel.

For the actual questions, you can email us at assistant@elliekay.com and ask for Mock Interview Questions.

What Does Freedom Mean to You?

The Kay family loves the 4th of July.  That includes 12 of us who appreciate Independence Day and what this holiday represents. However, there are a couple of the Kay family members who loathe the holiday.  I know I shouldn’t single them out, but I’m tired of the way that they take the freedom they enjoy for granted. These Kay family members have never thanked our
Marine, Airman or Soldier for their service, they don’t send care packages when our sons deploy into harm’s way overseas.

I’ve decided I’m going to call them out. After all, who are they to dampen the enthusiasm of millions of revelers on such an important day in our nation’s history? So here it goes:

Belle and Anna—you are ruining the holidays for all of us.

Yes, our two mini schnauzers and granddog would rather bark, whine or run and hide under a bed when they hear fireworks in our neighborhood than appreciate the holiday in all its noisy glory. It’s gotten so bad, that we must get sedatives to get them through the 4th of July each year (to clarify, the sedatives are for them and not us—although I’m tempted.) Poor, unpatriotic puppies are terrified by the Black Cats, M80s and Lady fingers that the neighbor kids fire off every y

Today, I like to thank those who serve as well as those who have served in the past and those who love them. It’s because of these heroes we can enjoy these freedoms. As I reflect on the freedom of speech, the press and religion, I’m grateful to live in the land of the free because of the brave.

I’m also grateful for the opportunity we have through the non-profit Heroes at Home to educate our Airmen, Soldiers, Marines and Sailors in Financial Literacy. Our Money Millhouse podcast and our free show provides our

audiences with four, top-level speakers, a live twitter party and over 100+ door prizes to include free financial books and gift cards. This is all made possible by generous donations from USAA, Experian and other companies as well as individuals like you, who believe in helping our military members stay financially healthy so that they can keep their security clearances and do their important life-and-death work. All our speakers are volunteers and Heroes at Home doesn’t pay honorariums—these educators believe in our military members and their families

 

. Currently, less than 1% of our donations go toward fundraising and over 90% goes directly to the support of educational programs for our troops.

What do I believe freedom means today?

I believe it means a free America.

I believe we can enjoy our freedom because of those who serve and those who love them.

I believe our Creator has freely given us gifts, talents and resources to make the lives of others better.

I believe in those who fight for our freedom both at home and abroad.
I believe in the land of the free because of the brave.

And I believe it’s time to go give those pesky puppies their sedatives before the fireworks begin.

What does freedom mean to YOU today?

 

 

 

 

Memorial Day and #HonorThroughAction

Gold Star Family

Being part of a gold star family is like being part of an honored and exclusive club—but one that no one wants to join. The gold star indicates that a member of that family died while serving their country. We are a three-star blue star family, which means that we currently have three family members serving with sons in the Marines, Air Force and Army. We’ve weathered deployments to Afghanistan and Iraq—praying our way through each day they were there. We never want to add another gold star to our family.

Yes, our family is a gold star family because of my Grandfather, SSGT Walter Rawleigh, a bombardier on a B-24. He was on his 47thmission in Madang, Papua New Guinea. Fully gassed and loaded with bombs, the “Cisco Kid II” had an engine malfunction on take-off and crashed into an encampment of Seabees having breakfast. Ten members of the crew and 165 Seabees suddenly died that day. Obviously, I never knew my grandfather and my dad was a young child when his father perished. I know that my father, Chief Master Sgt Rodger Rawleigh, USAF (Ret) was inspired to serve because of the fact his dad never came back from war.

 

Memorial Day

Memorial Day is about gold star families and should not be confused with Veteran’s Day. The latter is a day which honors all who have served in the United States military. A memorial is a remembrance of those who paid the ultimate sacrifice. It’s not a day to say, “Happy Memorial Day,” even though many Americans have a day off. Many will use that time to picnic and enjoy their families and friends. In fact, the original tradition of this day was to eat a picnic while sitting on the grounds of a cemetery.

This national holiday was first recognized by Congress in 1971 and before that time it was known as Decoration Day, which originated shortly after the Civil war. Besides my Grandfather’s tragic accident, 645,000 Americans have given their lives in defense of our freedoms. What can we do to appropriately honor those who died? I’m glad you asked.

 

The Poppy

 Honoring our fallen with a poppy is a tradition that was inspired by the poem crafted in 1915
entitled, “In Flanders Fields.” It was written by Lt. Col John McCrae after he lost a friend during WWI.  McCrae’s poem inspired Moina Michael, an American professor and volunteer for the American YWCA, to write a response poem, “We Shall Keep the Faith,” vowing to wear a red poppy as a symbol of remembrance.

Michaels campaigned to have the red poppy adopted as a national symbol of remembrance and, with help from Anna Guerin and the 1920 National American Legion Conference, the poppy became the official symbol of remembrance.

But it’s not limited to our country, the poppy is used as a symbol of remembrance all over the world. Along with the American Legion, we encourage people to wear or display a poppy on this weekend to remember those who lost their lives in battle.

 

Virtual Poppy Field

I invite everyone to join the conversation online using #honorthroughaction and share your story. What does Memorial Day mean to you? Who are you honoring? You can visit www.poppyinmemory.com to dedicate a digital poppy to a fallen hero or as a gesture of appreciation for those who have sacrificed all. It only takes minutes to participate and I want to thank USAAwho are sponsoring this initiative and for all their help in Heroes at Home.

Honor the fallen today.

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.

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. 

Are You Teachable?

When I was a young mom, we had five babies in seven years and moved 11 times in 13 years. While on that journey and at my husband’s urging, I decided to go back to school and finish my Bachelor’s degree. Yes, I went back into the classroom between babies #3 and #4 to reach that personal goal. Colorado Christian University had a program designed for adults who worked full time and taking care of all those kids was a full-time job! In my class were other adults including Madeline, a 70-year-old great-grandma who wanted to finish her Bachelor’s degree. When the professor asked each of us our motivation for enrolling in this difficult, accelerated program, Madeline sweetly replied,

“I always want to keep learning and remain teachable.”

She became my hero that day.

Madeline finished the program and walked the stage with the rest of us, then she went on to publish three books—always remaining teachable.

As a veteran speaker of 2000+ paid gigs, an author of 15 published books, a spokesperson for 100+ brands, and a media veteran of 2800 interviews, I’m often asked to mentor neophytes on how to succeed in these areas. It seems that everyone (and their mama) wants to write a book, become a brand ambassador or launch a professional speaker career. That’s cool, it’s great to have dreams. Many have read that they should “go to someone who is successfully doing what you want to do.”  Consequently, some will come to me. That’s not a bad thing, that’s what I did when I started out. I’ve received hundreds of requests for this kind of coaching and the requests infer a pro bono offering. This can be overwhelming.

How do you decide who to mentor when you have a limited amount of time?

My answer:  they must be teachable.

I have a business and non-profit to run, a podcast to push out, a husband to flirt with, and several grandbabies to visit. Time is limited and I can’t take every meeting that I’m asked to take. How do I decide who gets a meeting and who will get the closed door answer: “I’m honored you would ask, but I regret to say that I cannot accept.”

I’m not alone, you’re probably juggling work and home, trying to find that work/ life balance that is ever illusive. You need to know what meetings to take and which ones deserve a pass. Or, you may be the person asking for the meeting—why should the experienced veteran in your field, take a meeting with you?

They need to be teachable.

Just like Madeline, are you willing to humble yourself, do the work you’re asked to do and realize that you have something to learn?

I’ve found that the least teachable people are those who feel they have nothing to learn. Some of the worst speakers I’ve ever heard are Generals, CEOs, actors, teachers, and preachers—those who speak in front of groups often. They feel that because they are already doing it, they don’t need to improve. The English teacher who is not a publishable author feels she knows her grammar, but that doesn’t mean she can write a book. The professional speaker, who can’t make the leap to media interviews because he doesn’t know how to deliver a sound bite. You get the idea.

I have several ways of vetting someone before I take a meeting. For example, I’ll send them a file on the topic they want to discuss with me, “call me after you’ve read the file and we’ll set up a time to answer your questions.” Roughly 9.5 out of 10 never read the file—BAM! I don’t take that meeting.

Or for those who want to be speakers, I’ll say, “attend a Toastmasters meeting and then we can talk.” But they don’t do the bare minimum—attend one, little meeting! In both vetting cases, the proposed mentee feels they are advanced well beyond the need to read a file or attend a meeting.

The same thing happens at conferences, when attendees have a chance to speak with the faculty to talk about their work. Occasionally, a faculty member or speaker will request more material from an attendee.  According to my literary agent, Steve Laube (super agent extraordinaire) 9 out of 10 attendees never send him their info on the rare occasion he requests it. It’s a huge open door that they won’t walk through due to fear, laziness or procrastination.

After I spoke at FinCon one year on the topic of monetizing brand ambassadorships, an attendee followed up with me as I requested. She did her research, followed my advice and today, she’s a very successful brand ambassador. You can read about “The Budgetnista” and see the work she’s doing in the space—a truly teachable lady who found success.

Madeline, from my CCU class all those years ago, remains a hero of mine and I want to grow up to be like her. Towards that end, even after 25 years as a professional speaker, I remain teachable in my primary areas. I attend Shop Talk Toastmasters, and practice new material, receiving feedback from those Toastmasters. After every speech that my speaking team does with the Heroes at Home Financial Event, I get feedback on the presentation from my team. This way, I continue to learn and grow.

Are you teachable?

Are you willing to do the work?

Do you have a way to vet your time to determine what meetings you’ll take?

Have you ever been asked for a response from someone in your field of interest and what did you do?

For more information on how to structure your work/life balance, listen to our interview on the Money Millhouse with an exceptional life coach, Ann Vanino.

Where ever you go and whatever you do, remaining teachable is the best way to grow and continue to find success along the journey.

Financial Education Month – How to Resolve a Credit Dispute


In our Heroes at Home Financial Event tour, we work with military members to make sure their credit history keeps them flying high! Even pilots can get grounded if they can’t hold a Top Secret security clearance and they can’t hold a clearance if their credit is awry. There are some pilots with one million dollars in training assets invested in them. It would be terrible for them to have to fly their last sortie because of this important issue. But security clearances are something that every military member has to protect. That could be an expensive mistake. Thankfully, some of these issues are able to be resolved with the help of Airman and Family Readiness, but it still had an impact on military readiness.

You may not have a million dollars in national security assets invested in you, but you’re still a valuable person to your family, friends and community. Whether you are a military aviator or a mom who works from home–it’s important to regularly check your credit report from all three providers (Experian, TransUnion and Equifax). You can get a free copy at Annual Credit Report where federal law allows you to get a free copy of your credit report from each of these reporting bureau once every twelve months. The law also allows you to ensure that all the information on your credit reports are accurate and up to date.

One of our financial education speakers is the ever knowledgeable presenter, Rod Griffin, from Experian. We recently discovered something new going on

at Experian regarding  enhancements to its dispute center that make it easier and faster to file a dispute.  Many people do not understand how to correct mistakes on their credit reports – so financial literacy month is a good time to help educate them on the process and take away the fear that it’s a daunting or complicated task.

Here are some of the highlights of the dispute center where consumers can:

  • Use their smart devices as it’s mobile-optimized
  • Upload photos of supporting materials directly from their smartphone
  • Get a free Experian credit report
  • Follow contextual links designed to help them better understand and access various sections of their report
  • Receive timely alerts updating them on the current status of their active disputes
  • Sort and view the accounts listed on their credit report by alphabetical order, date opened or status, and filter by categories such as collections or installment loans.

Be sure you share this with anyone you know who may have a credit report dispute and be sure that you check the credit reports on everyone in your family. Hopefully, you won’t find a credit history on your four year old daughter or 1 year old son, but identity theft is knows no age!

Knowing your options will help you with your credit report spring cleaning–especially if you find anything out of place! Once your work is done, sit back, make yourself a cup of coffee and don’t forget to join me and my co-host, Bethany Bayless in The Money Millhouse podcast for our interview with Rod Griffin, Gerri Detweiller and other credit financial experts.

 

Smart Money Habits for Millennials (and Their Mamas)

The Kay Family had five babies in seven years. That roughly adds up to 3 kids in diapers at once, 10 years of not sleeping through the night, 4 teenage drivers at the same time, 3 kids in college at once and today, we have 5 millennials in their 20’s simultaneously.

Fun .

But the good news is that they eventually slept, pottied, drove, graduated and even mastered money habits in the journey. Here are the habits we helped teach our millennials to make sure they didn’t have to move home, they could remain financially independent, have a great start for their families, and still buy their mama nice birthday gifts.

Habit #1 – Create and Live By a Spending Plan

Many millennials have heard of the value of creating a budget and even have apps that help. But it’s of little use if they don’t know how to stick to it. Here are my favorite apps to help:

  • Mint Budgeting App – I met the founder of Mint, Aaron Patzer, in a green room, years ago, when we were both going to be on ABC News in NYC. At the time, he was building his success with Mint. I just remember him being (as he says in the video) “full of myself.” Ha! But his budgeting app is probably the best out there because it makes it easy to create a budget. You connect the Mint app to your bank and the app uses your details to help create a personalized budget.
  • PocketGuard Budget App – This app also connects to your bank accounts and shows you what you currently have in your pocket. It tracks your money to show what you are spending and automates where you’re going off budget and where you need to cut back.
  • You Need a Budget – This app’s claim to fame is that it creates a budget you can stick to based on the info provided in your bank accounts and spending habits. It even teaches you what to do if you overspend and how to live on last month’s income. This is the only app that cost money in my list and it’s $50 for the year, but there are hoards of devotees that say this app helped them to finally live on a budget.
  • GoodBudget – Back when dinosaurs roamed the financial space, there was an “envelope system” where you put the money you needed in each envelope labeled with expenses such as gas, food and entertainment. It helped Bob and I get out of 40K in consumer debt in only 2.5 years when we were first married. This app is the digital version of that system, making sure that everyone knows how much is left in the “envelope.”

You might need a money buddy to stay on track, too. Tiffany Aliche, The Budgetnista, talks about her journey on our fun podcast The Money Millhouse and how she went from broke to anything-but-broke through techniques that kept her on track.

Habit #2 – Cook Creatively and Consistently

Money evaporates when you order out for lunch or dinner more than one or two meals a week. Bob took leftover dinners (the

re’s a microwave and fridge at work) for our entire marriage and we calculate that he’s saved $20,000 by doing this! Make Pintrist your pal or watch The Food Network to learn easy ways to create nutritious and tasty meals. Ask for an Instant Pot for your next birthday and make more than you need for dinner so you’ll have leftovers for either lunch or dinner later in the week. Or freeze the leftovers. My daughter lived with roommates for a few years and they would assign different nights for each of them to cook to simplify the work. Cook more and your wallet and your waistline will thank you.

Habit #3 – Care About Your Retirement

When we take our Heroes At Home Financial Event on the road, we teach young service members the miracle of compounding interest with the mantra: start early, start small and stay committed. Be sure to start with funding a Roth IRA and take advantage of your company’s matching portion of your 401(k). Lacey Langford, an Accredited Financial Counselor gave some great tips on a segment called “I Aint Afraid of No Money.”  She discussed retirement planning from her experience in working with the military (but many tips apply to civilians as well.) If you’re military, be sure to go into your Family Readiness Center to discuss the Blended Retirement System and what your options are for your situation. It’s free and a benefit you can use early and often.

Habit #4 – Count the Cost of Debt

The average millennial college grad owes 37K in student loan debt and the average household owes $8500 in credit card debt. Work on minimizing the debt you accrue and pay off the debt you have so that you’ll have the flexibility to move or wait on the right job. One of my sons worked for JC Penney, and they eliminated his entire department. Most employees were freaking out because they had student loan debt, consumer debt and car debt—but not our son. He made a practice of living on less so he wouldn’t accrue debt and he was able to have less worry in the process of finding a new job.

Be sure you also pay attention to your credit score. Rod Griffin, from Experian, came over for a discussion on coffee and credit. He works with us on our tours and he teaches that if you have bad credit, you’ll pay an average of 360K more (over your lifetime) for the use of basic credit, than the person who has a good score. Improve your score by paying on time, paying more than the minimum balance due and make sure you never use more than 30% of your available credit.

Habit #5 – Choose Contentment

This is a tricky habit because it’s a mindset that you choose. There will always be something to spend money on to make you go off budget or get into financial trouble. There’s the new phone, tablet, car, vacay, boyfriend/girlfriend, baby, or a plethora of other reasons to want to spend more and have more. This is where your friends, family and even faith come into play. Coveting what others have or do is a lesson in futility and discontentment. Your friends either contribute to this mindset or they keep you focused on what matters most. If keeping up with their lifestyle is an important platform in your friendship, then you may want to find new friends. Remember that this financial journey is a marathon not a sprint. I’ve always said, “you can have it all—just not at the same time.”

What is one habit you are good at? What is one habit you want to improve upon? Share it with us, a friend or even a money buddy, so that you can be fiscally healthy in 2018 and for a lifetime.

 

Coffee Is On Us at The Coolest New Financial Podcast on the Planet!

Live, from Ellie’s kitchen table… it’s The Money Millhouse!

WELCOME TO THE FINANCIAL SHOW ANYONE CAN LISTEN TO!

The conversation gets lively and somewhat ridiculous when Ellie and Bethany share a cup of coffee (or four) over Ellie’s kitchen table. They not only have fun at The Money Millhouse, their conversations about saving money, couples communication, spend plans, super heroes and more make you feel like you are drinking coffee right along with them. Coffee, friends, money, sometimes random singing… what could be better?

Each week on this little-over-20-minute podcast, a special guest joins Ellie and Bethany at the table to discuss relevant money-related issues. From saving for retirement and credit chats, to home-based business tips and maybe a thing or two about what Star Wars has to do with coffee, there is always something to talk about.

The Money Millhouse will teach you while entertaining you with offbeat humor, geek-speak and money tips you never knew existed. If you can put up with Ellie’s annoying dogs announcing the next guest to come to Ellie’s door for a cup of Joe and a light hearted but important conversation, then you’ll get the maximum return on your time investment.

Come on in to The Money Millhouse, where we brew up money saving tips and tricks for anyone’s lifestyle. You might even learn a few secrets in the Millhouse closet.

This week, the show kicks off with a bang when Bethany

and Ellie talk about saving money when it comes to eating healthy including menu planning and tips at the grocery store. Start your menu planning by looking into your pantry and avoid wastage. Danna Demetre joins the conversation talking about the fact that the same principles to save money are the same when it comes to your health as well. Learn about which poisons (that go into your body) to cut out, which sweetener is the best for your body and why disease can be expensive. Also learn why having Mental Health Days (can you say a Disney day?) are important and natural days to de-stress.

The Money Millhouse is a production of Heroes at Home, a non-profit organization that gives financial education to military families around the world. To find out more about Heroes at Home, or to make an end of the year donation, visit heroesathome.org

Avoiding Last Minute Christmas Panic!

 

So….here’s  some of this year’s Kay Christmas photos, that were a part of our annual photo greeting card. This was mailed the day after Thanksgiving. On Black Friday and Cyber Monday of every year, I get all my shopping done so that we can have a simple holiday–no last minute panic, no stress–just a simple life. But a few Christmases ago, I got talked into having “some work” done in our kitchen that was “a three day job.” I remember stressing to my husband that, with all the college kids coming home for the holidays, I didn’t want my house in a mess. But in accordance with Murphy’s law, most of my kids came home to 6 inches of snow on the ground that completely shut down our desert California town. Plus, I had A MESS OF KITCHEN! Workers couldn’t drive in t
he snow.  With no kitchen, there was no holiday baking, no traditional truffles, nothing but a sense of panic that there was too much to do and not enough time.

Whether you’re still shopping for last minute gifts, prepping your cards, cooking for the big meal or cleaning the house, you can avoid the associated expense and stress that comes with last minute panic by becoming proactive and purposeful in the midst of your panic. Here are some tips to attack the anxiety before it attacks you.

 

  • Simplify – It may have been a tough year economically for your family or you may an uncertain financial future. It’s the ideal time to simplify the holidays by taking a deep breath and thinking about what you do have rather than what you don’t have. I believe that each of us has two kinds of attitudes within us: there is a minimalist as well as a materialist in each of us. It’s time to tap into the minimalist and give the materialist less power in your life. Be sure that you are talking this through with your spouse. Dr. Jennifer Degler has some great ideas to manage these conversations when we interviewed her on The Money Millhouse. The holidays are all about friends and family, they’re really not about spending yourself into oblivion or stressing the small stuff.
  • Strategize – Get the free Christmas Radio app and sit down for a strategy session. At the root of most of our last minute anxiety is a basic lack of control. In order to separate emotional panic from the plan, take charge by implementing a specific strategy for these last few days.
    1. Step One: Take ten minutes to write down what you have left to do (gifts, grocery shopping, cards, baking, cleaning, etc). You could use the Christmas List app for $2.99 or just use the notes on your tablet so that you can share this with appropriate family members that may be impacted. Maybe you don’t really have as much to do as you thought and that, in and of itself, will help eliminate stress.
    2. Step Two: Go back over your list and mark the items as optional or mandatory. Do you really have to paint the bathroom before the guests arrive—optional.  Do you really have to change the sheets in the guest room before your mother-in-law arrives—mandatory.  Do you have to bake those three step chocolate truffles or can you get them at the local bakery–optional.
    3. Step Three: Take the optional items and place them on the bottom of the list. If you get to them—fine, if you don’t fine. This takes off TONS of pressure.
  • Stash the Cash – It’s soooo hard to really stay on budget with only days before Christmas. One tried-and-true way our family has been able to stay on a last minute budget is to get the budget remainder in cash and divide it into specially marked envelopes, for example, “food” and “gifts.” When I’m in the grocery store, I take the food budget envelope and it serves as a visual reminder of what I have left. On one hand, it keeps me from splurging on some treats if I’m running out of cash but on the other hand, it can also allow me to splurge (guilt free) on certain products if I realize that I have money leftover!
  • Split the Efforts – This may come as a news flash but… you don’t have to do everything in order for it to get done right! This is not the time to be Miss Polly Perfectionist. In this step, we need to delegate responsibilities. Assign tasks to different family members and cut your work in half. In fact, you could use this time as an opportunity to teach your teens the value of a dollar. Let them go to the store for you and get the items on your list, asking them to find the best deals. If they are not certain, then they can text you the options (what teen doesn’t love to text?) You can text them back some suggestions and in the process they are learning to evaluate a good deal and a bad deal.
  • Separate – It’s highly likely that you’re going to be charging some last minute expenses on your credit cards. But don’t let those purchases hurt your FICO (Fair Isaac Credit Score) by charging more than 30% on any one card. Check your credit card limits as well as your balances online or by phone and then make certain that you charge on the card that is lowest proportionally. Even if you are able to pay off these credit card bills next month, charges of more than 50% of the available limit on any given card can hurt your FICO. So be strategic by separating those purchases and saving your credit score.
  • SAVE – It used to be that Black Friday was just a day, this year it’s an entire season. It’s truly a buyer’s market amongst retailers and there are last minute deals to be had, especially electronics and clothing. But what if you don’t have time to go and battle the crowds at the store? There’s an easier way to give last minute gifts that simplifies your time, saves you money and keeps you on budget.
    1. Gift certificates (online and physical cards) – If you want to send an online gift certificate to someone, it’s as easy as pointing and clicking. They’ll receive notification in their in-box that you’ve bought them a gift certificate and you can follow up with an e-card alerting them that the notification they will receive from the retailer is not spam. For some great options, go to restaurant.com for discounts on eating out or check out potential deals at amazon.com For a review of codes that can give you a better deal, go to RetailMeNot.
    2. Gifts of Time – Some of the most memorable gifts I’ve ever received are gifts of time. One girlfriend gifted me with a certificate good for lunch at my favorite bistro. My kids have given me handmade “coupons” that are good for doing the dishes, cleaning the living room, babysitting a younger sibling or not back talking me for a week (hey, I’m happy for a day). You could write out your own coupon and give the recipient a card that says, “This card entitles you to dinner and a movie” or “This card can be redeemed for a night out on the town while we babysit your teething twins.” This can be FUN!
  • Share – I’m all about multitasking and getting the most out of my efforts as well as my money. Now is the perfect time to give to charity in a way that also benefits you financially with your taxes. This year, given the current economy and the great material needs in communities why not consider giving the “gift” of a donation in someone’s name? Our favorite non profit organization is Heroes at Home which provides free financial education for military members. Currently, 95% of your donations go directly to programs on base.  Look over your list of people and consider making a donation in their name instead of giving them a material gift. You don’t have to tell them the amount of the gift and you can make one donation in the names of several people—thereby giving an amount that allows you stay within your budget. Furthermore, this kind of gift could be tax-deductible and help you (if you itemize) on your taxes as well. It’s a gift that keeps on giving.

Merry Christmas!
Ellie Kay
www.elliekay.com

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