Living Rich for Less: Create the Lifestyle You Want by Giving, Saving, and Spending Smart

by Ellie Kay

You really can be rich in every way, every day.

So you want to own the home you love, make memories on wonderful vacations with family or friends, finance college educations, and help others too?

You can–starting here and now.

With lively humor, proven know-how, and practical principles for financial health, Living Rich for Less helps you stretch your dollars to realize the lifestyle of your dreams. Ellie Kay’s entertaining and enlightening examples show you simple steps to save, spend, and give smart, and her three main principles are undergirded by dozens of effective rules and hundreds of Cha-Ching Factor™ tips that keep or put money in your pocket.

Ellie knows what it’s like to be financially-strapped or struggling, wanting to be the Joneses but feeling as poor in spirit as in pocketbook. She went, within two and a half years, from being a new wife and mom with $40,000 in consumer debt and seven children (and college educations) to support, to being completely debt-free and within fifteen years able to pay cash for eleven different cars, give away three of those cars, buy two five-bedroom houses (moving from one to the other) and nicely furnish each, take wonderful vacations, dress her family in fine fashion; and support more than thirty non-profit organizations in more than a dozen different countries, giving away more than $100,000.

Isn’t that the kind of transformation to a rich life that you want?

Living Rich for Less helps anyone get there in our taxed-out, maxed-out times. Because financial security doesn’t mean just genuine prosperity, but being able to live luxuriously, give generously, and care for yourself as well as the others around you.

Why keep up with the Joneses when you can be them?

Genres: Nonfiction, Finance, Self Help, Personal Finance, Frugal, Audiobook, Economics

240 pages, Hardcover

First published January 1, 2008

Reviews

[Melanie · Rating 1 out of 5]

I got this one at a used book fair, and after reading it, I let my daughter tear it to shreds rather than risk someone else reading it. There are some age-old tips and advice (donate 10%, save 10%, and live on 80%) but most of it is full of "yay us" anecdotes. Yay we gave an old car to an NGO. Yay we gave our dusty old furniture to people. The author's husband is retired from the Air Force, so they're going to receive pension income for the rest of their lives, so it's ok for them to only save 10%. For most people it will take a lot more.

She also stated that her children went to college for free or nearly for free, but never expounded on that (whether it was GI Bill, ROTC, ethnic scholarships, merit scholarships, athletic scholarships, tuition remission, etc) in the book.

[John · Rating 4 out of 5]

Lil moneybags made saving money a profession. Give away the fist 10%, save the next 10%, and live wisely and well on the final 80%. Materialism comes with easy credit. Content makes poor men rich and discontent makes rich men poor. - Benjamin Franklin

[Tina · Rating 3 out of 5]

If you're already educated about finances, you probably won't take much away from this book. A lot of the information is basic (e.g., avoiding consumer debt, having an emergency savings account, investing in a 401k or IRA, etc), but there's enough decent tips that each person could probably take at least one new thing away. For me, it was the message of giving. Ellie challenges readers to give 10% of their income to charitable organizations. Of all of the financial books I've read, this is the first that quantifies what generous giving looks like. I'm not sure if it's good or bad advice, but I do agree that helping charitable causes (whether through monetary donations, gifts, or time) is noble and is something we can all benefit from.

[Hope · Rating 3 out of 5]

I didn't learn good spending habits till I married my frugal husband and now I enjoy the benefits of penny-pinching. The biggest plus is one of Ellie Kay's three points in this book. When you spend and save carefully, you have money to give to others, which makes you feel rich.

She gives a lot of tips for cutting financial corners and in the last section, writes extensively about mortgages. Since I've never owned a home, most of that was gobbledygook to me. Except for this last bit, the book was very simple and "user-friendly" with personal anecdotes and do-able ideas for saving money.

[Eboney · Rating 2 out of 5]

Perhaps it was because I was listening to the audio book but I couldn’t stand the little side stories. This book seemed very heavy on stories and light on actual useful advice. The first two chapters being devoted to donations/tithing just felt oppressive. It seemed to me that she just kept on harping on giving that felt like redundant page filler.

[Jessica · Rating 3 out of 5]

This would be a good book for someone just starting out or someone who struggles with money. The stories were a little silly, and I skipped a lot of the lists, but it was a good reminder to appreciate what we have and use our money wisely.

[Anthony · Rating 3 out of 5]

The more I read these money/financial books I'm seeing how they all say about the same things. This one did put a bit more emphasis on the giving/donating money piece no matter how much you make. The more you give away the more it will come back to you, which I have come to realize is true. Another good financial book easy read its just a matter of applying the principles and waiting the time it sometimes takes to get out of your situation. You can't rush it. (unless you win the lottery and then chances are you'll just blow it and be in the same situation later if you don't take the time to follow some financial plan)

[K. Burton · Rating 2 out of 5]

I like Ellie, but I couldn't finish this. I found the writing a bit juvenile and the practical tips too far and few between antidotes. If this is one of your first books on trying to live a more frugal lifestyle, it may be a winner, but for me, I turned it back into the library well ahead of my due date.

[Leah · Rating 2 out of 5]

I found this book a little too simple. Being a Dave Ramsey follower, I knew many/most of the items before she reviewed them. Ellie is a good writer, but I would call this "Financial Light" for those who are maybe just started to get their financial house in order. I did, however, take away some websites that she offered for coupon codes and savings.

[Valerie · Rating 1 out of 5]

I read about halfway through. All this advice is literally for people that never learned basic money saving skills. Or for people that buy everything on credit. The only advice I never thought about before was "the dollar given away if better than anyone kept" or something like that. This author sounds too cocky as well.

[Karen · Rating 3 out of 5]

This book shows how to make your current income work to its fullest for now and the future. I gave it 5 stars. I obviously like it and highly recommend it.

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After a reread, it gets three stars.

[Jillian · Rating 5 out of 5]

This book said a lot of things I already knew (maybe that's why I liked it, an affirmation?), but I especially learned from and enjoyed the chapter on giving, on how tithing isn't just a religious concept, but a sound financial concept.

[Lynn · Rating 3 out of 5]

I picked this up for something different to read. You never know if you can pick up something you
didn't know. So, time is not lost if you learn something new. So, I can say I learned at least one
thing new, and reinforced some things I already knew.

[Kristen · Rating 4 out of 5]

Great book for someone new to budgeting and saving - a lot of simple and great tips. But if this is something you've been interested in or working on for awhile, most everything you would read you most likely already know!

[Michele Oster · Rating 1 out of 5]

I listened to it. Don't. The writing is already condescending but her tone and accent make it so much worse. It's super simplistic, not one new thing. If you've read RDPD or Ramsey, skip this one and if you haven't, read them instead.

[Rose]

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[Valerie Gay · Rating 5 out of 5]

I read this book in 2 days. It is an easy read and full of great resources that offer awesome discounts and coupons!

[Rebecca · Rating 2 out of 5]

This book said a lot of things I already knew.

[E. Scott Harvey · Rating 4 out of 5]

Very good book. Kay takes the mystery out of money talk - she speaks my language, and is so practical.

[Jo13 · Rating 4 out of 5]

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[Tony Bradshaw · Rating 2 out of 5]

Basically give 10% away, save 10% and become rich on the remaining 80% by cutting costs.

[Major Doug · Rating 2 out of 5]

Listened to this book: some good ideas; however, 'Wife of test pilot' doesn't sound like too much of a financial hardship.

[Sue · Rating 3 out of 5]

I'm listening to the audio version. The author has a great website for analyzing your budget.

[Jessica · Rating 3 out of 5]

Good info. Worth reading. Just not great.