Mar 04 2011

Ellie Kay answers your money questions

Ellie Kay is America's Family Financial Expert and she is here to answer your questions about money. Today, she discussed penny stocks, the wise use of a large chunk of cash and dealing with high gas prices. Got a question for Ellie Kay? Feel free to share it here or email us at scottandkelli@klove.com.

Learn more about Ellie Kay here: http://elliekay.com/

If you missed Ellie's helpful tips, we've posted our interview below:

Part 1 - What are Penny Stocks?

Part 2 - What do I do with a large sum of cash? and how can I budget for higher gas prices?

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Comments (5) -

3/4/2011 4:50:05 PM
Joshua Jones United States
Joshua Jones
How do you develope a budget?
3/4/2011 4:55:53 PM
Dave United States
Dave
Hi Ellie,

Are you only taking questions from females?
If not:

I worked for a major semiconductor company & I was relocated to Colorado in 2000, I borrowed a $10,000 loan from my 401K to have a house built.

A year later 911 happens and I lost my job of 20 years.  I thought since I was debt free I would just increase my contributions when I found another job.

The IRS beat me to the punch in 2002 I was taxed and penalized to the tune of $30,000 I got this down to $6,000 but with penalties and interest I'm up to $20,000.

I'm 54 y/o as a truck Driver I'm not making what I was I was finally encourage by "financial experts" to file for bankruptcy on this.

My expenses are now minimal; I make about $50,000 a year I don't want to ever be in financial bondage again, where do I start to invest?  Do I need to go and get a financial degree?

I have my emergency savings how much liquid funds do I need before I begin to invest the maximum?

Dave
3/6/2011 12:52:27 PM
Ellie Kay United States
Ellie Kay
Hey Joshua Jones, if you email my office at assistant@elliekay.com I'll send you a budgeting file. Plus there are free budget tools at my website at my tool center: www.elliekay.com/financial-resource-center.php

Hi Dave, No, we don't just take ?? from females, in fact, we'll look to answer yours next Thursday on KLOVE, so tune it. Anyone whose question I answer on the air gets a FREE copy of my book, "The 60 Minute Money Workout." So thanks for asking!
3/11/2011 10:10:12 AM
Ellie Kay United States
Ellie Kay
Hey Dave! I hope you get this note because I answered your question on KLOVE yesterday! So you win a free copy of my latest book, The 60 Minute Money Workout! Please email my office at assistant@elliekay.com so we can get your info so my office can mail it to you. Congrats again!  And Joshua Jones, we'll try to get to yours next week!
3/17/2011 5:37:35 PM
Erika United States
Erika
If our Christian friends are thinking about bankruptcy, what should they be wary of for their future?  Should we counsel them against this based on a Biblical principle?  We love them and would hate for them to have long term consequences they weren't prepared for.  They are currently in a short sale on their house.  They own both cars. They have about 50,000 in credit card debt.    They haven't done anything crazy.  Just lost a job and adopted 2 kids in the same year!  And two years later they are still going under.  It has been painful to watch their fear and agony. Thank you!
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