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“And I will give you shepherds after my own heart, who will feed you with knowledge and understanding.”  Jeremiah 3:15Brian Kluth is a best-selling author of several books on generosity. He was a pastor himself for 10 years and is now the national spokesman for the annual Bless Your Pastor initiative, which is organized by the National Association of Evangelicals. Tell us about the three-step program for blessing pastors and church staff.The three steps are:1. Download free materials for your church and share them with church leaders, including a flier titled "50 Ways to Bless Your Pastor and Church Staff.2. Take up an appreciation offering.      3. Publicly honor the pastor and staff.Completing these steps allows pastors to receive a marriage retreat scholarship to a Weekend to Remember and access other free and discounted retreat and vacation opportunities. Over 3,000 churches have already participated in this program. What are some examples from the "50 Ways to Bless Your Pastor" resource?The resource provides ideas on how to pray for your pastor, affirm your pastor, encourage them, and offer practical assistance.       Examples include offering dental care, car repairs, lawn care, and other practical acts of service.The goal is to show deep appreciation for those who minister in the church, as encouraged by 1 Thessalonians 5:12. How does collecting an appreciation offering work (Step 2)?Leaders inform the congregation that they will collect an appreciation offering for the pastor and church staff.   This offering is a gift to help pastors and staff, many of whom may have limited financial resources.       It can make a significant difference in their lives, especially during times like Christmas. Give an example of what celebrating (Step 3) looks like.Celebrating can involve various forms of recognition or appreciation, such as public prayers, appreciation meals, or handwritten notes.The key is to honor pastors and church staff publicly to show appreciation for their service. All materials and information can be found at blessyourpastor.org, available in both English and Spanish. On today's program, Rob also answers listener questions: Should you convert some traditional retirement accounts to a Roth IRA based on my financial situation?What's the best way to start a Roth IRA with a monthly contribution of $400-$500?Should I take a lump sum or an annuity from my pension as I approach retirement?I have $30,000 in a checking account, and I'm looking for ways to make it earn more interest without taking risks. What should I do with it? RESOURCES MENTIONED:Bankrate.com Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

Mark Biller is executive editor at Sound Mind Investing.Mark recently published an article in the latest SMI newsletter titled “Measuring the Market's Valuation."Market valuation" refers to the process of assessing the worth or value of the overall stock market or individual stocks within it. It involves determining whether the current prices of stocks accurately reflect their underlying fundamentals, such as earnings, assets, and growth potential. Market valuation is essential because it helps investors make informed decisions about buying or selling stocks. Here's why market valuation is important:Price Assessment: It helps investors assess whether the prices of stocks are reasonable, overpriced, or underpriced based on their intrinsic value. This information guides investment decisions.Risk Management: Understanding market valuation can assist in managing investment risk. If stocks are overvalued, it may indicate a higher risk of a market correction or crash.Asset Allocation: Market valuation influences asset allocation decisions. In an overvalued market, investors may choose to allocate more funds to safer assets like bonds or cash.Long-Term Returns: It can impact long-term investment returns. Buying stocks when they are undervalued can lead to better long-term gains.Behavioral Factors: Market valuation can provide insights into investor sentiment and behavior. During periods of overvaluation, investors may be overly optimistic, while undervaluation may lead to pessimism.Overall, market valuation helps investors make informed and rational decisions in the stock market, balancing potential returns with risk. It's a crucial tool for both individual and institutional investors in managing their portfolios. It's important to recognize that the price investors are willing to pay for company earnings changes over time, right?Investor attitudes and the price investors are willing to pay for company earnings change significantly over time.These changes are driven by emotional swings, with investors being optimistic at times and pessimistic at others.These shifts in investor sentiment contribute to extended bull markets and occasional stock market bubbles, as well as bear markets when investors become pessimistic. The key to measuring how expensive a given company, or the stock market as a whole, is to know how much it is earning - is that right?Yes, measuring a company's or market's valuation often involves comparing its price to its earnings.     One common measure is the "P/E ratio" (price to earnings ratio), which compares the stock price to earnings per share.Similar measures can be applied to the entire market to assess its overall valuation. Mark offers some important warnings about market valuation in his article. Market valuation is not a useful short-term timing tool.      It can indicate when the market is overvalued or undervalued, but it doesn't predict when corrections will occur.      Market valuation is primarily helpful for long-term projections and can inform financial planning.High valuations may suggest below-average returns in the coming decade, while low valuations may suggest above-average returns. So we shouldn't necessarily run out and make a bunch of trades based on this information. How can we use it to help us make decisions?Market valuation can help in long-term financial planning.  If the market is highly valued, conservative return estimates can be used in retirement planning.   Adjusting expectations based on market valuation can guide decisions about savings rates and retirement age. What do the various measures say about the market's valuation today?Most measures suggest that the market is currently expensive.A decade of economic growth and massive stimulus have contributed to high valuations, although they have moderated slightly from late 2021. Are there other factors that can affect market valuations, and how do these types of situations typically resolve?Other factors can impact valuations, and over the decades, the trend has been toward higher valuations.Market valuations often correct through bear markets, which can cut market values significantly.These corrections set the stage for future bull markets as valuations become more favorable.The discussion provides insights into market valuation, its limitations, and its relevance in long-term financial planning. On today's program, Rob also answers listener questions: Are Certified Kingdom Advisors professionals with extra training or volunteers who have undergone additional training?Is there a formula to determine whether to repair a car when the repair cost exceeds the car's current market value?Is it a good idea to keep a 17-year term life insurance policy for mortgage protection, or would it be better to use the money for emergency funds and investments? RESOURCES MENTIONED:Find a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

First, a hat tip to our friends at The Gospel Coalition for a great article on this topic.By 2030, Baby Boomers are expected to pass nearly $68 trillion in assets to their children, primarily millennials.Millennials are projected to hold five times as much wealth by 2030 compared to today.Concerns arise regarding the impact of declining church giving as Boomers pass away.Smaller and larger churches alike are experiencing a downturn in giving, with even larger evangelical churches seeing a drop during the COVID-19 pandemic.Younger generations prioritize charitable giving, potentially offsetting the decline.Christian Boomers can influence their adult children's generosity by modeling it and engaging in discussions about wealth transfer.Three ways Christian Boomers can leave a legacy of generosity are engaging with their family, planning their estates to include charitable giving, and educating and encouraging their heirs.Estate planning can include strategies for supporting churches, ministries, or missionaries.       Ethical wills can capture life stories, religious values, ethics, and beliefs to pass on to future generations.Financial literacy should also be a focus to ensure heirs are prepared to handle the wealth they receive, promoting stewardship and generosity. On today's program, Rob also answers listener questions: Should you use 401k funds to pay off a mortgage? Should a person in their mid-30s with no dependents get life insurance? Does it make sense to move savings into a high-yield savings account? Is it true that banks will ask people to convert their cash to digital currency soon? RESOURCES MENTIONED:Bankrate.comApp.faithfi.com Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

Start with the differences between how men and women tend to think or approach life.Broad generalities about men and women in relationships don't apply to every couple.Contrasts between men and women: builders vs. beautifiers, risk takers vs. nest builders, task-focused vs. relationship-focused, big picture vs. detail-oriented, factual vs. intuitive, compartmentalized vs. centralizing.Men tend to be the head of the home, and women tend to be the heart of the home.Opposites often attract in couples, with one being more of a thinker and the other more of a feeler, both holding equal importance. When it comes to these differences, how have you seen it show up?Common patterns in differences between spouses: husband focusing on big-picture decisions and retirement planning, while the wife handles day-to-day expenses.Husband taking the lead on significant purchases like homes or cars, while the wife accumulates expenses over time through household shopping.Highlighting the variance in risk tolerance between men and women, emphasizing the value of compromise for the family's benefit.Men tend to have a higher risk tolerance than women do. And yet, if they will come together and meet in the middle, they often find that the compromise is really the best fit for the family. What are some of the reasons that you've found that couples operate this way where only one of them is overseeing the investments?The big one is busyness and the need for task specialization in marriage.But there's also a really positive reason that sometimes this occurs, and that is that there's something in the heart of a man I think, in particular, that wants to provide for his family, and feels blessed when his wife trusts Him with the investment decisions and feel confident that he's able to do that. You talked to us about how men being the head of the home and the woman being the heart of the home, we might think of that as thinker and feeler. So how does that apply specifically to investing? Thinking spouse focuses on technical, factual aspects like return, risk, lock-up period, and fees.Feeling spouse emphasizes safety, availability for family needs, and alignment with family values, including social responsibility.Both men and women can value socially responsible investing, but research highlights its importance to women. Let's talk about some of the potential dangers of having just one spouse make the investment and long-term planning decisions. Longevity: Women tend to live longer than men, so if one spouse handles everything and passes away, the surviving spouse may struggle with complex financial matters during a time of grief.Responsibility imbalance: If the feeling spouse becomes too passive in financial matters, it can place a heavy burden on the thinking spouse, potentially leading to dissatisfaction with the outcomes and marital friction.Ignoring spouse's intuition: The thinking spouse, while being financially savvy, may overlook their partner's concerns or intuitions, which can lead to poor decisions. Listening to each other's input is essential. What is the potential benefit of making both investment and major financial decisions together?God created men and women with different and complementary attributes, representing different facets of God's image.Reflects the biblical principle that two are better than one.Supports and strengthens the marriage, particularly in significant investment decisions.Encourages prayerful decision-making and unity in financial matters. For that spouse that's hearing this today and says, Yes, that's what I desire. But her spouse, let's say, has been managing everything. And she wants to be a part of it. How would you encourage her to approach that conversation?Encourage the spouse to approach the conversation delicately.Suggest a gentle approach that acknowledges the partner's service.Express the desire to learn and become involved in financial matters.Seek the partner's guidance in getting educated and engaged with investment. If you're a woman in the Denver or Colorado Springs area, and you'd like to meet Rachel and hear more on this topic, The National Christian Foundation will be hosting two women's events October 4, 5. Rachel will be speadking she'll be diving deeper on the topic of men, women and investing for impact. You can request information at Rocky Mountains at NCFgiving.com or via email at rockymountains@ncfgiving.com.You can find out more about Rachel at www.wealthsq.com. On today's program, Rob also answers listener questions: Should I withdraw my money from my fixed annuity and invest it in something else with potentially higher interest rates despite facing surrender charges? RESOURCES MENTIONED:Find a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

Some statistics claim that 54 percent of American employees are happy with their jobs. Then again, apparently, 83 percent of us are suffering from work-related stress.  So, what does all this mean for you?  If work-related pressure is getting you down, what do you do? Quit? Re-train and change jobs? Grit your teeth and keep going?We suggest you step back and ask a different question: As a believer in Christ, why are you working in the first place?The desire to do productive, meaningful work is in our D-N-A.  In fact, when God created Adam and Eve, He immediately set them to work naming the animals and tending their beautiful garden.  Unfortunately, along with everything else, work was twisted by sin after the Fall.  Now, instead of always being productive and satisfying the way God intended, work can literally make us sick.In Colossians 3: 23 and 24, we see the key to rediscovering meaningful work: “Whatever you do, work at it with all your heart, as working for the Lord, not for men, since you know that you will receive an inheritance from the Lord as a reward.  It is the Lord Christ you are serving.”Serving God in your work, whether your job is secular or not, is the key to contentment on the job.  The verse says “whatever you do”, so it's not the work itself that matters, it's the boss.  And if you're a Christian, your boss is Jesus - not you, and not even your employer.Here's an example of someone who did her job as unto the Lord.We don't know her name, but her virtues are outlined in Chapter 31 of Proverbs. She's referred to as “A wife of noble character”, but her actions and attitudes are worth studying and imitating, no matter who you are.One characteristic of this Bible hero that stands out to me is what we might call her work ethic. Here are some of the phrases that describe this woman of “noble character”.  You can ask yourself: Does this describe me, too?“She works with eager hands…” A person of noble character has a positive attitude towards work, knowing that diligence can produce many benefits.“She gets up while it is still dark, she provides food for her family…” The Bible makes it clear that providing for your family is a primary responsibility. She takes it very seriously.“She considers a field and buys it…out of her earnings she plants a vineyard.” Part of the biblical work ethic involves expertise – gaining useful skills and using them for the benefit of your family and community.“She sets about her work vigorously; her arms are strong for her tasks” This hero is aware that living well requires strength and determination.  You don't get there sitting on the couch watching YouTube.“She opens her arms to the poor” This woman of character is so successful in her work…that she is able to be generous with her surplus.  Are you working just for yourself, or so you can help others also?She speaks with wisdom…”  A person of noble character develops enough experience to teach others.  Her work ethic is the water that raises all boats, because everyone benefits from her industry.“She does not eat the bread of idleness”.  It's pretty clear that a biblical work ethic means NOT being lazy.The most important quality of the woman of noble character is that she follows and honors the Lord: “A woman who fears the Lord is to be praised”.  Everything she does comes from a desire to serve God, and all of her success springs from this priority.We can learn a lot from the Proverbs 31 woman about working as unto the Lord. We encourage you to read through Proverbs 31 and make it a point to follow her example!Finally, as you consider your own job stresses, remember Proverbs 3: 5-6. Trust in the Lord with all your heart and lean not on your own understanding.  In all your ways acknowledge him, and he will make your paths straight. On today's program, Rob also answers listener questions: What recourse do you have if you buy a used vehicle and it turns out to be a lemon? How do you go about redeeming bonds of a deceased parent? Does it make sense to take money out of investments to pay off a vehicle? Can you provide suggestions for rebuilding my savings, considering my retirement situation and the funds I've used for home repairs, taxes, and my current financial status? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

Jerry Bowyer is our resident economist and author of The Maker versus the Takers: What Jesus Really Said About Social Justice and EconomicsToday, we're continuing our series on just what a Christian economic worldview should look like and how we can return to God's plan for a healthy economy.Last time, Jerry told us that we have to see and think clearly and understand that an economic system fits together coherently with cause and effect. We need to see that the God who made man and the God who made the earth is one God with one mind and we are compatible with one another.  As we start out today, sum up where we've been.The series begins by examining how things were supposed to be, often referring back to the original creational intent and biblical principles.It is emphasized that the economy of Genesis 1 and 2 represents the ideal state of affairs as designed by God.However, humanity abandoned this ideal, leading to the economy of Genesis 3 and 4, marked by curses, worsening conditions, and the replacement of God with idols.The way out involves returning to biblical principles and organizing nations according to God's original intentions.The current state is described as the church era, with nations varying in their adherence to biblical principles and Providence shaping events since the fall of the Tower of Babel.The dispersion of nations allows people to vote with their feet and capital, and adherence to God's principles tends to enrich while violation leads to degradation.This natural order serves as a protective limit on the evil in the world, even though the original Edenic intention cannot be fully restored. So how would you then describe where we find ourselves today?The present era is characterized as the "church era" where God's influence operates through the church in various nations.Different nations exhibit varying degrees of adherence to biblical principles, with some following, some abandoning, and others moving toward them.Since the fall of the Tower of Babel, Providence has shaped the world to limit the power of the powerful and protect the vulnerable.God's statement about "nothing these people can't do" implies the potential for harm to - one another in a world.The dispersion of nations enables people to vote with their feet and capital, influencing the dynamics of global economics.Capital movement, exemplified by money flowing in or out of nations like the United States and Europe, demonstrates how adherence or violation of God's principles can impact economies.Following God's principles tends to enrich, while violating them tends to degrade and impoverish, serving as a protective limit on the extent of evil in the world. We can see on full display the evidence of that when we just look at the U.S. taking off like a rocket ship because of our adherence to those principles, right? The evidence of adherence to biblical principles is seen in the rapid growth of the US, surpassing much older nations.The US outpaced older nations, including old Europe, despite potential flaws in Christian economics in the latter.However, there's a recognition that the US is slowing down due to violations of these principles.The world operates in a way where there are inherent consequences for both violating and following these principles, creating a system of punishment and reward. Where do we go from here as the body of Christ and the church? The church is where the desired transformation should take place, following Adam's failure and Israel's shortcomings.The dispersion of nations at the Tower of Babel limited the power of individual states to act as gods.The ultimate solution is seen in Jesus, the new Adam, who succeeded in the garden where Adam failed, and in Pentecost, where language barriers were overcome.The church is described as a nation, a holy nation, and a priestly nation, and it has the capacity to do the right thing independently of the nations.There is a contrast between Babel, which moved east and caused language confusion, and Pentecost, where nations moved west and understood each other's languages.The church embodies God's ideal economy by prioritizing God, productivity, and generosity, avoiding extremes like the health and wealth gospel.The church's productivity is crucial because, without it, there is nothing to share, aligning with God's original intent for His people. We can often be frustrated because we know we have limited impact on the national economy. And yet what we have direct control over is our own personal economy, right?Frustration often arises from the limited impact on the national economy, while individuals have direct control over their personal economies.Having agency in one's household and local church can counteract frustration, as it allows for meaningful actions on a small scale.The choice is between fretting about national issues with limited impact or acting in the right way on a small scale, creating a model for potential imitation by nations.The focus should be on doing what is right, regardless of the scale, as God is responsible for the rise and fall of nations.God's command is for the church to be the kind of nation it's meant to be, embodying a holy and priestly identity. What is it going to take for us to get back in line with God's design? To get back in line with God's design, there are a couple of key factors.First, the church should serve as a model for handling money better than the world does.Secondly, the church should adopt a prophetic role, not only doing the right thing but also speaking truth to the nation.Inflation, for example, should be seen as more than just an economic or math problem but as an abomination, echoing God's perspective on unjust weights and measures.While voting is part of the process, the real power lies in setting a positive example, preaching the truth, and relying on God's intervention.The hope is for America to be restored, not just to its former glory but to a higher moral standard.Historical examples, such as Sodom and Gomorrah, show that a nation can be salvageable if there is a prophetic voice, even if it's as small as a group of ten speaking the truth.Concern arises when there's no prophetic voice, as that could lead to the nation's downfall, but there is still hope if the church raises its voice more clearly.You can read Jerry Bowyer's insightful columns for World News Group at WNG.org. On today's program, Rob also answers listener questions: How do you determine whether to keep funds in an IRA or move those funds elsewhere?What should you consider in deciding whether to take money out of an IRA to build a house?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

Brad Guffey is Chief Medical Director at Family Legacy Missions International where he specializes in treating infectious diseases. Family Legacy is the ministry changing the lives of around 13,000 orphans in Zambia.They do that through a 4-part program: helping children grow academically, physically, emotionally, and spiritually.  The physical and healthcare services that Family Legacy provides to Zambian children have grown tremendously in the last 10 years. Emphasis on pragmatism and efficiency in their approach.Belief in being faithful in small tasks.Acknowledgment of God's significant impact on their work and the lives of many children.Transformation from starting in a tent in a shipping container 10 years ago to a high-quality healthcare facility.Active service to several thousand families at any given time. What does medical care look like in Zambia?Zambia presents unique challenges with a population of 20 million, two-thirds of whom are under 25 years old.The challenges of healthcare in Zambia include efforts to prevent children from being left uncared for.Differences in healthcare include fewer prior authorizations but still dealing with paperwork.Seasonal rainy flooding affects access to homes, necessitating home visits.Various medical issues are highlighted, including opportunistic infections, cancers from advanced HIV/AIDS, tuberculosis, rheumatic fever, heart valve disease, liver cancer due to environmental toxins, and uncommon conditions like lymphatic worms and blood flukes.Routine medical problems are also common, often complicated by resource limitations, with severe malnutrition being a frequent issue, often stemming from poverty. Healthcare is absolutely essential before these amazing children can take on any other challenges.Emphasis on the essential role of healthcare for the 13,000 children in their program.A comprehensive approach to helping and caring for vulnerable and orphaned children in Zambia is highlighted.The mission is to glorify God by empowering these children to realize their God-given potential.Acknowledgment of the importance of good health for the children to thrive.Positive outcomes are observed, with children accessing modern medicine and receiving care from a dedicated team.Despite improvements and modernization, there are still cases where children arrive at the clinic in dire conditions.Brad shares an example about a child named Lydia, who overcame severe malnutrition, tuberculosis, seizures, and HIV, now living a healthier and happier life. To learn more and find out how you can help, visit HopeForZambia.com/faithfi. On today's program, Rob also answers listener questions: Does taking a loan from an insurance policy affect your credit? Should you put the name of an adult child on a property deed for estate planning purposes to help it pass more easily to them upon the death of the parent? Upon the death of a parent, does it make sense to sell the parent's home and split the proceeds with a sibling? What is the best way to start saving money for grandkids? Is a home equity line of credit a good way to pay for home improvements?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.

“Put on the whole armor of God, that you may be able to stand against the schemes of the devil.”  Ephesians 6:11Chris Meyer is Manager of Stewardship Investing Advocacy and Research at Praxis Mutual Funds,  an underwriter of this program.  What exactly is shareholder advocacy and how does Praxis do it?Many people begin by screening or avoiding certain industries or companies based on their values.Screening is a valid approach but has limited power to create real change.Praxis uses seven different impact strategies for investments.Shareholder advocacy is one of these strategies, leveraging ownership rights to drive change.Shareholder advocacy includes activities like writing letters, filing proposals, and engaging in dialogues with company management.The goal of shareholder advocacy is not to chastise or embarrass companies but to encourage profitability while also promoting positive impact.Praxis collaborates with other investors, primarily from the faith community, in their advocacy efforts. How does Praxis work with many other investors, especially the faith community, to advocate for Christian values? Collaboration with others significantly enhances the impact of their work.Coalition efforts with various faith-based institutional investors broaden and deepen their reach.Companies are more receptive when approached collectively by a coalition.Collaborations focus on common interests and shared capacities.Example: Praxis collaborates on human rights and child labor issues, while others may focus on pharmaceutical companies and medication affordability.Praxis takes leadership roles in some engagements and partners actively in others.Prioritization of issues and companies is essential due to limited resources. What kind of preparation goes into this type of engagement? Engagement preparation involves issue prioritization and collaboration with investor partners.Teams are formed, leadership structures are established, and goals are set.Education and strategy sessions, both in-person and virtual, are organized to become well-informed about relevant topics.External expertise is often brought in to enhance understanding.Example: Engagement with Target and Walmart on human rights and child labor issues.Focus is on encouraging robust human rights policies and supply chain enforcement.Pre-engagement research includes reviewing company publications, reports, and industry news.Input from human rights experts and NGOs is sought to understand global supply chain issues.Thorough preparation is crucial for gaining understanding and credibility in engagement with companies. If company dialogues are central to real change, what do these engagements look like, and what makes an effective conversation or dialogue with a company?Meaningful dialogue with company management is the pinnacle of shareholder advocacy for impactful change.Engagement usually starts with an investor letter outlining concerns and requesting dialogue.Initial communication may be with investor relations and corporate counsel.The goal is to engage with decision-makers overseeing the relevant issue, often vice presidents.Dialogues are typically in-person or via video conference, lasting one to two hours or longer.Building strong, trusting relationships is crucial.Success comes when companies see a vested interest in their future success and the relevance of the concerns raised. So what is the end game? How do you know you've been successful in making meaningful change in supportive kingdom values in these engagements?Setting clear goals and ways to measure success is crucial in advocacy.Having a vision of the desired outcome of the dialogue is important.Long-lasting engagements can lose meaning without a clear endpoint.Avoid being seen as a nuisance by the company or becoming their free consultants.Common scenarios for ending dialogues include a company refusing to engage or dismissing concerns.In the best case, all goals are met or exceeded, and the engagement transitions to a monitoring phase to ensure commitment follow-through.Learn more about Praxis at PraxisMutualFunds.com. On today's program, Rob also answers listener questions: Is there a more affordable way to handle the Medicaid paperwork and power of attorney, given limited financial resources?What's the best way to invest for a child's future? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

The past few years haven't been easy for small businesses in the U.S. The pandemic threw the supply chain, the workforce, and the economy into chaos, forcing many small companies to close their doors, and sending workers home by the millions.But small business owners are nothing if not resourceful, and many of you have pivoted into the new realities with determination and creativity. Of course, as Christians in business, we are called to a higher standard.  Colossians 3:23 – 24 says, “Whatever you do, work heartily, as for the Lord and not for men, knowing that from the Lord you will receive the inheritance as your reward. You are serving the Lord Christ.”The benefit of tying your business standards to eternal values is that those values don't change with the whims of culture or economic trends. The end result for Christian employers is a faithful witness to everyone. As Jesus told his disciples in John 15:8, “By this my Father is glorified, that you bear much fruit and so prove to be my disciples.”Here are a few basic biblical principles that should guide your professional actions and attitudes. GUIDING BIBLICAL PRINCIPLESThis first principle is fundamental, and once you truly get it, the rest makes much more sense. We're talking about stewardship. In a nutshell, stewardship is what happens when you understand that “The earth is the Lord's and everything in it,” as it says in Psalm 24.So, as business owners and managers, we submit our work, our resources, and our profits to the Lord, because He is really the boss. We can have a kingdom perspective on everything, from hiring, to inventory, to profits and losses.As managers, we turn to Christ, seeking first his kingdom and his righteousness, trusting that he will provide what we need to take care of all the business details. That includes taking care of our families.Ultimately, success or failure in the business becomes God's problem, while we do our best, letting him take care of the rest.In the post-pandemic business environment, workplace norms have really shifted.  Many workers who left the office to work at home have stayed there. Lots of small businesses are dealing with hybrid workforces that have different sets of expectations.This is where eternal biblical principles can keep you moving in the right direction. Because, once you have God's authority over your business figured out, you can focus on the horizontal relationships — how you interact with your employees, customers, suppliers, contractors, and competitors.Most importantly, treat everyone with integrity. Deuteronomy 16:19 says, “You shall not distort justice, you shall not be partial, and you shall not take a bribe.” What does that look like in a business context?  Well, pay fair wages, show concern for your employees' well-being, and treat your customers, contractors, and even your competitors, fairly.According to smallbiztrends.com, workplace expectations have changed in recent years, especially along generational lines. In general, Millennials want a positive workplace culture and flexible schedules, and Gen Z workers value fun even more than money! Maintaining biblical values in your company can help meet the felt needs of every employee.One way to maintain a healthy company culture is to set an example. As a business owner who belongs to Christ, you have an opportunity to demonstrate godly character to those around you. You can do that by pursuing righteous business practices. Here's how:Be honest. Communicate clearly. Keep your promises, and pursue excellence. As Larry Burkett once said, “There's nothing more honoring to God than quality service or a quality product from a professing Christian.” Proverbs 22:29 confirms this: “Do you see a man skilled in his work?  He will stand before kings.”As a business owner or manager, you're in a unique position to have an impact on your community through your generosity and compassion. We pray that you will use your professional resources and influence to further Christ's kingdom right where you live. On today's program, Rob also answers listener questions: Should you add your children as authorized users on our credit card to help them build their credit? Is it a good idea to give your kids a debit card tied to their first bank account? If one spouse enters a debt management program, does that affect the credit score of the other spouse? Does care maintenance insurance make sense? What can you do if you're trying to get a mortgage but your debt-to-income ratio is too high due solely to student loans?  RESOURCES MENTIONED:Capital One teen checkingChristian Credit Counselors Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

Family financial expert Crystal Paine is the creator of the amazing website MoneySavingMom.com. SAVING MONEY WHEN PLANNING A WEDDINGThe biggest thing is you need a budget. How much money can you realistically devote to paying for this wedding? Really think about your priorities when it comes to that budget.  CREATE A BUDGETCreate a budget by category and then decide what categories you want to prioritize and put a little bit more money in. And in which areas could you live with spending a little less? For example, perhaps you decide that spending a lot of money on professional photography isn't all that important to you, but you would really like to have nice flowers. Decide ahead of time how to prioritize your resources. And we highly recommend that you do not go into debt!  It's not worth it. You can simplify your wedding and still have a great marriage. We promise! WHEN TO WED?According to knot.com, about 43% of weddings now take place between September and November. So how does that affect the cost of a wedding?Just remember the laws of supply and demand. If you're holding your wedding at a really popular time of the year, your costs may increase. Venues, photographers, cake decorators, etc. … all may charge more because demand is higher at that time of year. So if possible, consider holding your wedding outside of those peak months. Perhaps you could consider a December through February wedding date. If you go in the offseason, it's also going to be easier to find service providers as they're less likely to be booked up. OTHER MONEY-SAVING TIPSCrystal shares that she wore her mom's wedding gown during her wedding. But there are a lot of places online that offer great deals. For instance, David's Bridal offers sales a few times a year with significant discounts. Crystal says she's seen wedding dresses for as little as $99. So planning ahead can really save you a lot of money there. Also, ask around to see if there's anyone you know who can actually decorate cakes. There may be someone in your circle of friends, or a friend of a friend, who could help you save a lot of money on your cake. And if you're willing to hold your wedding at your church, rather than an expensive outside venue, you may be able to save a bundle there as well. Unless you're planning a super simple wedding, one investment that may be well worth your while is a wedding planner. Crystal shares that hiring a planner was the best investment she made for her wedding. A good planner can take a ton of stress off your plate. But they can also negotiate prices, help you stay within your budget, and may even save you money in the end. On today's program, Rob also answers listener questions: What are the tax implications of giving an adult child a large cash gift? Does it make sense to enter into a rent-to-own agreement for a home if your credit isn't great?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

Ron Blue is co-founder of Kingdom Advisors and the author of several books on personal finances from a biblical perspective, including Never Enough?: 3 Keys to Financial Contentment. Ron published a video series a while back for Kingdom Advisors that revealed 3 questions everyone needs to answer. 3 KEY QUESTIONS: 1. WHO OWNS IT?  This question is so foundational because until you answer that question, you don't know the difference between the steward and the owner. And when I say I own it, then I can do whatever I want with money. But if I say God owns it, now my actions change because I know that I'm managing someone else's resources. Answering that question will not only change your behavior; it will change your life. 2. HOW MUCH IS ENOUGH?  Those of us in the United States live in the wealthiest nation in the history of the world. Even those of us who don't consider ourselves “wealthy” by American standards enjoy a higher standard of living than most everyone else in the world. A recent golf tournament awarded the winner $3.6 million dollars. There's nothing inherently wrong with the winner receiving that money. But the question is: How much is enough? Is there an amount that when you reach it, you're done? Or do you keep pushing for more because there's always someone ahead of you? In other words, unless you have a finish line, you'll never truly have contentment. 3. IS THE NEXT STEWARD CHOSEN AND PREPARED?  Again, we live in a wealthy culture. Let's just take the average person, if you will, who owns a home. If they died of old age, then they've had a retirement plan, perhaps, and they own a home and they're debt free. Then somebody's going to need to manage the money and assets left behind after your death. It's a really good idea to know who that is, and make sure that they're prepared. And the reason that's so important is because you're really transferring God's possessions and God's money. So you want to make sure you're transferring it to someone who considers themselves to be a steward and accepts that responsibility.  On today's program, Rob also answers listener questions: Is there a legitimate way to have student debt forgiven or lower the interest rates on your student loans? If you receive a notice that your home's escrow account is insufficient, should you pay a lump sum or just accept a larger mortgage payment? Does investing in an annuity ever make sense? Can you switch a whole life insurance policy to term life at age 74? Is it a good time to buy bonds?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

Well, first of all, we can all agree that God's Word has power. Isaiah 55:11 tells us, “So shall my word be that goes out from my mouth; it shall not return to me empty, but it shall accomplish that which I purpose, and shall succeed in the thing for which I sent it.”The Holy Spirit is the author of God's Word and He gives it the power to accomplish “any and all things that God shall purpose.”So, that brings us back to Matthew 6:21, “Where your treasure is, there your heart will be also.”  WHERE YOUR TREASURE IS …This verse reveals a truth that has both a positive and negative connotation. The negative connotation is that if you spend the resources God gives you on ungodly things, your heart will follow after those things. In the positive sense, though, the verse tells us that if we use God's resources in righteous and godly ways, our hearts will naturally follow after those things.You can also look at the verse in two other ways. Is Jesus saying that the emotion comes before the act, or after? Does the heart follow the treasure, or does the treasure follow the heart? And why is that important?It's important because all of this is leading up to something we talk about a lot here on the program, the power of money. Money has power, and that's what Jesus is really saying, and probably why there are over 2300 verses in the Bible dealing with money and possessions.You may not want to put your treasure (and it's not really yours, by the way) on godly things, such as giving to your church. Maybe that's very difficult for you to do. If so, Matthew 6:21 should give you hope and encouragement. It says you can change your attitude by changing your actions. THE POWER OF GIVINGNow, how exactly does that work, especially if money has so much power over our lives? Money has power, but so does God's Word, and so does giving.  In fact, giving has a very specific power— it has the power to break money's control over us.That seems counterintuitive, but it's true. The late pastor Charles Stanley liked to say that we need to hold money with an open hand because if we close our fist around it, it takes control of our thinking and behavior.Financial teacher and author Ron Blue says, “It's not that my heart is where I put my treasure. It's where I put my treasure … there is where my heart will go. The heart follows treasure, not the other way around. Jesus wants me to treasure Him and a relationship with Him and I can't if money or mammon is my god.”Jesus says a lot about money in the Gospels, most of it warning us about its power. A little further in Matthew 6, in verse 24, He says we must make a choice: “No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.”Note that Jesus doesn't say that it's difficult to serve God and money. He says it's impossible to serve God and money. He's saying you have to make a choice— God or money.In 1 Timothy 6:10, Paul tells us what happens when we make the wrong choice. He writes, “For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.”If you doubt that's the case, consider that loving money more than God is really idolatry. It's no different than the Israelites worshiping a golden calf.Now, to be clear, there's nothing wrong with acquiring wealth, and acquiring more than you need. If the Lord didn't allow that, we wouldn't have anything to give. Money is not the root of evil. The LOVE OF MONEY is.  That's what Jesus is saying in Matthew 19:23 & 24, “Truly I tell you, it is hard for someone who is rich to enter the kingdom of heaven. Again I tell you, it is easier for a camel to go through the eye of a needle than for someone who is rich to enter the kingdom of God.”A bit of hyperbole there, perhaps, to make a point. If you love riches, it will be difficult to enter heaven because you're choosing money over God. The only way to break the power that money has over you is to give generously to God's Kingdom.We hope this encourages you to be a generous giver, starting with your local church and then expanding to other ministries as you're able. On today's program, Rob also answers listener questions: What is an escrow account and how does it work? How do you determine when to move assets into lower-risk investments? Would it be wise to take money out of savings and purchase Treasury bills?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

The first thing we have to do is put to rest the misconception that work is punishment for the Fall. The very first verse of the Bible— Genesis 1:1, reads, “In the beginning God created the heavens and the earth.”So we see that God was at work even before man existed. And of course, He labored six days to create the heavens and earth, everything within them. Finally, He created Man in His own image and commanded him to rule over every living thing on earth.Later, we see in Genesis 2:15 that God gave Adam specific instructions about his labor in the Garden. It says, “Then the Lord God took the man and put him into the garden of Eden to cultivate it and keep it.”And just a few verses later, God creates Eve from Adam's rib, so that she could be his helper and labor with him in the Garden. All of this was before the Fall, so it's correct to say that work itself is not a punishment, and we can assume that working in the Garden was quite pleasant.Of course, that was not to last. Adam and Eve disobeyed God and ate the forbidden fruit from the Tree of Life and were cast out of the Garden. That's where some might get the idea that work became punishment.But we still would not describe work performed after the Fall as punishment. It's important to note that many translations of the Bible distinguish between “work” and “toil.” In Genesis 3:17, God tells Adam, “Cursed is the ground because of you; through painful toil you will eat food from it all the days of your life.” So after the Fall, work becomes less pleasant.But that doesn't mean that work itself is cursed. It may not always be pleasant, but God continues to bless those who work diligently and honor Him. An example of this is in Ruth 2:19. It reads, “And her mother-in-law said to her, ‘Where did you glean today? And where have you worked? Blessed be the man who took notice of you.' So she told her mother-in-law with whom she had worked and said, ‘The man's name with whom I worked today is Boaz.'” Of course, Ruth would marry Boaz, and bear him a son named Obed, who would become the grandfather of David. We believe we can safely say God blessed her work.And later in Proverbs 22:29, God again says diligence in performing our work well will be rewarded. It says, “Do you see a man skilled in his work? He will stand before kings; He will not stand before obscure men.”And in Ecclesiastes 2:24 we find, “There is nothing better for a person than that he should eat and drink and find enjoyment in his toil. This also, I saw, is from the hand of God.”Work is also mentioned frequently in the New Testament. The Apostle Paul often incorporates work into the proper behavior of believers. An important theme in his teachings about work is that God is our true Master and that we should work diligently with a positive attitude because doing that will point others to Christ.Colossians 3:23-24 reads, “Whatever you do, work heartily, as for the Lord and not for men, knowing that from the Lord you will receive the inheritance as your reward. You are serving the Lord Christ.”This doesn't mean you can't look for another job if you feel God leading you somewhere else. It just means that wherever you work, you should exemplify Christ, whom you represent. In Ephesians 6:7 Paul says, “With good will render service, as to the Lord, and not to men.”And Paul expands on this in 1 Thessalonians 4:11-12, “…make it your ambition to lead a quiet life and attend to your own business and work with your hands… so that you will behave properly toward outsiders and not be in any need.”But it seems not everyone in the Thessalonian church was following Paul's direction. Some believers apparently didn't want to work. He admonishes them in 2 Thessalonians 3:10-12, writing, “ If anyone is not willing to work, let him not eat. Now such persons we command and encourage in the Lord Jesus Christ to do their work quietly and to earn their own living.”Okay, one final thought. It's also important to be grateful that you can work to earn a living, because that, too, is a gift from God. Deuteronomy 8:18 reads, “ You shall remember the Lord your God, for it is he who gives you power to get wealth.”Everything we have is a gift from God— and that includes work.On today's program, Rob also answers listener questions: What's the best way to get started investing using tools like 401ks or IRAs?What are the tax implications of selling a house? How do you determine the best way to use a lump sum of money? What are the rules surrounding claiming medical expenses on your taxes? RESOURCES MENTIONED:Master Your Money by Ron Blue Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

As you know, we're big fans of planning. That's because having a plan is the best way to meet your financial goals — or any goals for that matter.  The question is how to make sure your plans line up with God's will for your life. That's important because if you're a Christian, and Jesus is your Lord, you know his plans are the best.In fact, it says in Proverbs 19:21 that “Many are the plans in the mind of a man, but it is the purpose of the Lord that will succeed.”The purpose of the Lord will succeed, so it's worth finding out what He wants.  How do you do that?  Well, his Word tells us. Micah 6:8 says, “And what does the Lord require of you? To act justly and to love mercy and to walk humbly with your God.”Proverbs 3:5-7 is another passage that gives us a clue about God's will for his people: “Trust in the Lord with all your heart and lean not on your own understanding; in all your ways submit to him, and he will make your paths straight. Do not be wise in your own eyes; fear the Lord and shun evil.”So, can submitting your ways to God help you plan for retirement, or save up for a car, or plan a vacation? Well, you might not receive a note from the Almighty telling you which car to buy, but if you're committed to living by biblical standards, you will certainly experience greater peace and confidence about your choices.Here's the bottom line: We focus on whatever has eternal value. In other words, “Seek first the Kingdom of God.”  When you're “trusting in the Lord with all your heart,” as you pray, read his Word, and submit your financial plans to him, God will direct you into His will. That doesn't mean things will always be easy, but they will be godly.Sometimes, when you're praying for God's will to be done, and trusting the Lord for guidance, you might still need a bit of practical advice from someone you trust.  After all, seeking wise counsel is a biblical idea. Proverbs 15:22 says, “Without counsel plans fail, but with many advisers they succeed.”  That said, we have some biblical counsel for your plans in the areas of saving, debt, and employment. BIBLICAL TIPS RELATED TO SAVING, DEBT, AND EMPLOYMENTFirst, saving. Paying for college, retirement, or a home purchase can mean many years of diligent saving. This takes patience and commitment.  Our advice is to set a target amount and figure out how much you'll need to put away each month. Put that money where it will earn the most interest, and ask God to give you the discipline to stay on track.For retirement, be sure to max out any savings options offered by your employer. Or get going on your own with a traditional or Roth I-R-A. For college saving, we like 529 plans. What if you're getting a late start with your saving?  You might be afraid you won't meet your goals because your timeline is shorter. Our first suggestion is:  Don't worry. The Bible assures us that we do not need to worry about having our needs met.  Our God is “Jehovah Jireh”, our provider, who cares for the sparrows of the field, and even more for you and me. Besides saving, another big goal you might have is Eliminating Debt. This is another area where you need a plan. Figure out exactly what you owe, and make a plan to pay it off. Pay off one debt at a time, then apply the payment amount to the next debt. If you need more help, we recommend you visit ChristianCreditCounselors.org.  We do not recommend debt consolidation or debt settlement.Share your goals with trusted friends or family, so they can encourage you, and celebrate your successes along the way!Remember the Bible says, “The borrower is servant to the lender”, and keep your debt-free goal in sight. Above all, don't be discouraged. Ask the Lord to help you break any bad habits, and get the advice and support you need.The third area where you might need financial advice is Employment. Are you unemployed or under-employed? To improve your earning power, you'll need a new job, or possibly a promotion in your current job. One way to reach these goals is to get training and improve your skills.Be sure to network – and talk to your job contacts often.  Your persistence and enthusiasm will earn you employment brownie points! You'll also need to update your resume, of course, and practice your interview skills.  Ultimately, as we said at the start, when you focus first on the things that have eternal value, the purpose of the Lord will prevail in your financial life. On today's program, Rob also answers listener questions: When is an umbrella insurance policy a wise purchase? If you receive an email about debt relief for having worked during the pandemic, is that legitimate or a scam? What type of life insurance is best for a single man with no dependents?  RESOURCES MENTIONED:Christian Credit Counselors Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

“Without counsel plans fail, but with many advisers, they succeed.”Proverbs 15:22 Well, as you know, we always recommend you look for a financial advisor with the Certified Kingdom Advisor Designation, and you can do that by going to FaithFi.com and clicking on Find a CKA. When you do, you'll also find a long list of questions you can ask potential advisors. We're going to give you some of them today, though, because “folks have been asking.”The first thing you should understand is that the type of advisor you're interviewing will determine what you ask. And that only makes sense, because you'll need different information from a financial planner than from an investment professional or a tax attorney. So let's go over some of these questions by category:First, a Christian financial planner. They equip people to use God-given resources to accomplish God-given goals. The Christian financial planner can: (1) Help clients identify their God-given goals and quantify how much is necessary to accomplish them. Some of the questions you'll want to ask include: QUESTIONS FOR A CHRISTIAN FINANCIAL PLANNERHow do you integrate Christian values into your advice?How long have you been a financial planner, and what licenses do you hold?And, describe the financial planning process. Next we have investment professionals, and this could be a fee-only investment advisor or investment consultant. This person provides professional expertise to managing investment assets held in retirement accounts, trusts, individual, and joint accounts. A fee-only investment advisor is compensated by fees directly from the client. An investment consultant is compensated from commissions derived from the purchase or sale of a stock or mutual fund.  QUESTIONS FOR AN INVESTMENT CONSULTANTHow do you integrate Christian values into your advice?How do you determine whether or not a client should be investing?What is your investing experience and philosophy?How do you select the most appropriate investment options?Where are your clients' investments held? A brokerage firm? A mutual fund? Which one?If a brokerage firm or mutual fund holds your clients' investments, does the brokerage firm or fund charge separate fees for this?What type of investments do you use? Load or no-load mutual funds? Stocks? Bonds? Annuities?How do you monitor and how often do you report investment performance to your clients?How do you consider the impact of income taxes on investment choices?What other financial services beyond investments do you offer? That's a lot of questions for an investing professional, but asking them should give you the information you need to make a wise decision.Now what if you need a tax or estate planning attorney? What should you ask those candidates?  TAX OR ESTATE PLANNING ATTORNEY QUESTIONSCan you tell me about your practice and ways you integrate a biblical worldview into your advice?What are your areas of specialty?Can you share examples of complex cases you have handled?Have you handled many cases in my area of need (whether that's estate planning, business succession, tax planning, or something else?)Okay, maybe you need someone to help you with tax preparation. That would usually be a certified public accountant. QUESTIONS FOR A CPACan you tell me about your practice and ways you integrate a biblical worldview into your advice?How long have you been a CPA? What other licenses do you hold?Have you helped clients in a similar situation?What is your approach or perspective in interpreting tax laws and regulations and accounting and auditing standards?How about an insurance professional?  QUESTIONS FOR AN INSURANCE PROFESSIONALWhat's your biblical worldview regarding insurance needs?Are you required to recommend specific insurance products?How many companies do you represent? What's the rating of those companies? (Rating agencies include AM Best, Standard & Poors, and Weiss.)Do you receive higher compensation for recommending proprietary products?What percentage of your business comes from insurance commissions? And finally, a few additional questions you should ask all CKA professionals you interview:How long have you been in practice? (experience)How long will it take for you to do my work? (services)Do you have clients with situations similar to mine who might be willing to speak with me about your services? (referrals)Have you ever had any complaints filed against you with any organizations that regulate you? (reputation) Well, there's a partial list of questions to ask prospective financial advisors. We'll put a link to the whole list in today's show notes. On today's program, Rob also answers listener questions: Is now a good time to refinance your mortgage? What should you do if you have a house on the market that isn't selling? Would it make sense to convert a large amount of cash savings to a foreign currency? What should you do if your spouse is refusing to be transparent about their finances prior to the marriage?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

Mark Biller is executive editor at Sound Mind Investing, an underwriter of this program. The latest issue of Sound Mind Investing's newsletter featured a deep dive on gold, an article titled, “Checking Up On Gold.” A lot of gold watchers expected gold prices to be halfway to the moon by now, but that hasn't happened. THE RECENT PERFORMANCE OF GOLDWell, when investors think about gold and what drives its price, there are a handful of things that stand out: inflation, government spending, wars, and other “fear events,” and so on.When you think back over the last three years, what have we had, we had a global pandemic and all the fear that went along with that. Then we had massive monetary and fiscal stimulus, which led to the most significant inflation spike in 40 years. Then we had a major war break out in Europe! Since then we've had continued huge government deficit spending and tons of market uncertainty.Add it all up, and it would seem like this would have been the perfect storm to drive gold's price massively higher. But that really hasn't happened. Gold peaked in August of 2020 at around two-thousand-seventy dollars per ounce, then fell over 20% to nearly sixteen-hundred by last November. We've seen a nice bounce back toward the two-thousand level since then, but the point is gold is actually cheaper today than it was in the summer of 2020, despite all that has happened since then. WHY HASN'T GOLD PERFORMED BETTER IN RECENT YEARS?Mark Biller notes that gold isn't just one thing. Gold IS an inflation hedge, but it's not just an inflation hedge. It IS a hedge against war and other “fearful periods,” but it isn't just that either. Gold responds to a lot of different factors, so expecting it to trade perfectly relative to any one single factor often leads to confusion and disappointment.Ironically, the one factor that probably correlates the best to gold's performance is one most people don't think about at all, and that's interest rates. When you think about that, the past couple of years make more sense. In the summer of 2020, interest rates were at rock bottom levels and have climbed significantly since then. The Fed Funds rate, for example, was less than one-quarter of one percent then, and today is nearly five-and-a-half percent. That big move higher in interest rates has played a significant role in keeping the price of gold from soaring like many people expected.In fact, there's a strong case to be made that based on what interest rates have done lately, we would normally expect gold to be significantly lower than it is today. Rather than be disappointed that it isn't higher, Biller says he's impressed it's held up as well as it has. THE IMPACT OF INTEREST RATES ON GOLDThe simplest way to think about that is to recognize that gold doesn't pay any type of yield, whereas most other “safety assets” do. Any type of savings account, bond, or traditionally safe place to park money has been offering higher and higher yields as interest rates have risen over the past two years. That makes those assets more attractive relative to gold, which doesn't pay a yield. So we typically see gold rise in price as interest rates fall, and vice versa when rates rise. WHAT'S THE RIGHT APPROACH TO INVESTING IN GOLDThere's a difference between physical gold and “trading” gold in ETFs, and both have pros and cons. Owning physical metal obviously has a lot of advantages — you have it right there in your hands if things ever get really bad, there's no “counterparty” risk where you're relying on a bank or company to make good on the gold you own through a fund or ETF. So there's a lot to like about owning physical gold directly.However, owning physical metals also has downsides. Buying and selling is typically quite expensive, so most people can't reasonably dollar-cost-average or make frequent purchases of physical gold. And beyond a pretty minimal dollar amount of physical gold, people need to start thinking carefully about the safety of storing it at home, and if not at home, then you're looking at storage costs and the downsides of not having it physically present where you can get to it easily.So SMI typically breaks it down this way. They think having a small allocation of physical gold is a great idea. But they encourage people to think of that as a “forever allocation” — ideally you'll never need to sell this, you'll likely leave it to family members or heirs. Of course, you could sell it in a pinch, but the point is to put this mostly off limits in a person's mind, so the high transaction costs aren't an issue. For most people, thinking about it this way probably means their allocation to physical gold is going to be 5% or less of their total portfolio allocation.Then, on top of that physical “forever” gold allocation, they use the gold ETFs to supplement that allocation as conditions warrant. These ETFs trade just like any other stock or mutual fund, which makes them very easy to buy and sell, unlike physical gold. They have a particular SMI strategy that provides signals as to when it's a particularly good time or bad time to have a higher allocation to gold.Putting those two ideas together, most SMI members have a small constant allocation to physical gold, and then they also have a variable allocation to gold ETFs that goes up and down as gold moves in and out of favor. OTHER WAYS TO INVEST IN PRECIOUS METALSFor most people, SMI suggests they think about precious metals as two groups: actual gold in one group, and everything else in the other group.So what's in the other group? For starters, there are other metals, like silver and platinum. These can be great at certain times in the economic cycle, but they lack the foundational “gold is money” stability. So they're generally a lot more volatile and speculative than gold.Another more speculative play on gold is buying gold mining stocks, either directly or through mining stock ETFs. Similar cautions apply there — when markets get wild, these are ultimately stocks, not gold. So sometimes you'll see the gold price stay flat or even rise while the mining stocks are getting beat up. But of course, the reason people buy them is when you get the timing right, they can offer considerable leverage to the gold price, meaning a 10% increase in the price of gold might cause gold stocks to go up 50%. That sounds great, but owning precious metals stocks is about as wild a ride as there is in markets, so tread carefully! WHAT'S THE FUTURE OUTLOOK FOR GOLD PRICES?SMI believes the long-term outlook for gold is strong. That's largely based, unfortunately, on the observation that government spending has really taken off since the COVID crisis and there is no indication of that changing, regardless of who is in power. On top of that, SMI still believes a recession is likely sometime within the next year, and government spending always soars during recessions. So all that government spending probably means we'll be fighting inflation off and on for a number of years.That's a good long-term backdrop for a higher gold price. As more people realize this government spending wasn't just a one-time COVID thing and the government is going to keep debasing their purchasing power, the interest in gold and precious metals is likely to climb.But while the long-term outlook is pretty bright for gold, SMI offers one significant warning, which is simply that if we do slip into a recession, history indicates there's a decent chance there will be some sort of market panic associated with that. And normally when investors panic, liquid investments — like gold — get sold off along with everything else. If you look back at 2008 and 2020, the gold price fell hard as those panics unfolded. Gold went on to rally significantly from there in both cases, but the initial move was down. So for those thinking about loading up on gold now, it might not be a terrible idea to keep some powder dry with the intention to buy into a panic selloff if we get one, rather than loading the boat today.Get more sound investing advice online at SoundMindInvesting.org. On today's program, Rob also answers listener questions: How soon would it be advisable to cash out of I-bonds? How can a single working mom begin to get ahead financially? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

In Matthew Chapter 7, Jesus tells the parable of two builders – a foolish one, and a wise one.  The wise builder builds his house on a rock, and the storm can't destroy it, but the foolish builder builds his house on the sand, and when a storm comes, it all gets blown away.  Jesus tells his disciples that “everyone who hears these words of mine and puts them into practice” is like the wise builder.As with all of Jesus's parables, there's an underlying message for us here about God's kingdom and how we should live. This parable about the wise and foolish builders can also apply to our financial choices. 3 THINGS WE CAN LEARN1. It's better to be wise than foolish. Depending on God is the wise thing to do. If we follow God's principles in our finances, listening to the words of our Savior and doing what he says, we will be like that wise builder, and our efforts will have eternal value.The foolish man who ignores and disobeys God's word … will end up with nothing to show for all his hard work.2. A firm foundation can protect you from the storms of life. The key is to choose a firm foundation instead of a weak one. Worldly promises and desires are made from human weakness and have no power to protect or save us. Jesus, the son of God himself, is a solid rock. Place your trust and obedience in him, and the storms of life won't destroy you.3. Storms happen, to everyone. Both the wise and the foolish builder had to live through the bad weather. But in the end, the wise man was the only one left standing.So, let's inspect your financial foundation for a moment.  Are you really depending on God for everything?It's tempting to think you can go it alone financially, but the “Do-it-Yourself” philosophy of life is a blueprint for financial — and spiritual — disaster. Only the Lord is strong enough to provide, protect, and rescue you. In Christ, he provides salvation and the forgiveness of our sins. We desperately need Jesus, “for all have sinned and fallen short of the glory of God.” (Romans 3:23)Ephesians 5:15 admonishes us, as believers, to “Be very careful, then, how you live—not as unwise but as wise, making the most of every opportunity, because the days are evil.”  Wisdom like this isn't something we can muster by ourselves, because it comes from God.  No matter how smart, or successful, or hardworking you are, you still need God.Depending on God for everything takes practice.  It's also a matter of daily discipline.  HOW TO STAND FIRM IN CHRIST IN YOUR FINANCES 1. Study God's word, and follow biblical principles. God cares about the details of your life, because he loves you.  That's why there's so much in the Bible about how to be wise with money and possessions.2. Stick to your faith when temptation and opposition come.  And they will come. Satan does not want you to depend on God. That's why Paul warns his readers in 1 Corinthians 16:13 to “Be on your guard; stand firm in the faith; be courageous; be strong. Do everything in love.”3. Practice discernment. We love the truth in Romans 12:2. “Do not conform to the pattern of this world, but be transformed by the renewing of your mind. Then you will be able to test and approve what God's will is—his good, pleasing and perfect will.” The wise person chooses a foundation of truth instead of the shifting sands of worldliness.4. Keep praying. Test every financial opportunity with prayer, seek godly advice, and ask the Lord for the wisdom you need. If we can help you address some of your financial concerns, visit us at faithfi.com and click on the Community tab.  You're not alone, and we have many wise financial contributors available to answer your questions. On today's program, Rob also answers listener questions: Is there an app that can help you with budgeting, tracking money, etc? How do you dig out of credit card debt on a fixed income? How do you determine the best way to invest a monthly surplus?  RESOURCES MENTIONED:FaithFi AppChristian Credit Counselors Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

THE TROUBLING NUMBERSFor the first time, credit card debt has surpassed $1 trillion, and is now at 1.03 trillion. In the second quarter alone, it shot up $45 billion or 4.6%. Now compare these numbers to the overall household debt which spiked by $2.9 trillion since the end of 2019 before the pandemic. “Household debt” includes credit card debt, mortgages, student loans, and car notes. And credit card debt is now almost 1/3 of the average household debt. That is very concerning when you think about how expensive a car or a home is. People are really drowning in debt because of these higher interest rates and increased cost of living. In a recent study, 35% of Americans said they were carrying their highest level of debt ever, or coming close to it. Lending Tree statistics revealed that in the second quarter of 2023, the average APR on new credit card offers was about 24.24%. The average for all current credit card accounts is 20.68%. And the average for all accounts that accrue interest is 22.16%. IMPACT OF FED RATE HIKESIn the last year, interest rates have gone up 4.5 - 5.25 percentage points and continue to grow. The average credit card interest rates are now over 20%. So to put that in perspective, if you're making just minimum payments on an account that has a $6,000 balance, it would take you 17 years to pay off that debt. Credit card companies are actually now required to state on the first page of their monthly statements a minimum payment warning that shows you how long it will take to pay off your debt with no new charges and only making minimum payments. WHAT CAN YOU DO ABOUT IT?If you're only making minimum payments, what can you do to start digging out of debt? Stop using credit cards. Get on a budget.Live on less than you earn to have a margin.Use the “snowball” method to pay off credit cards, paying off debts in order of balance owed (smallest to largest) and applying the newly freed-up monthly cash to pay down the next-biggest debt.  STILL NEED HELP?If it seems like taking those steps would be difficult or impossible for you right now, Christian Credit Counselors can help. CCC offers a free consultation that consists of a comparison estimate wherein they outline all the benefits & fees of the program. There is no commitment. Their goal is to educate people about how they can help … and provide information so you can make an informed decision. They can also help you set up or adjust a budget.Christian Credit Counselors offers debt management services that help clients get out of debt 80% faster, doing it the right way. They have pre-negotiated interest rates, terms, and conditions with the credit card companies. They can help lower your monthly payments to a manageable amount, with new interest rates ranging from 1-12% APR, depending on the creditor. This program is different from debt settlement or a consolidation loan. The goal is to pay off your debt in full in adherence to Proverbs 3:27: “Do not withhold good from those to whom it is due, when it is in your power to do it.”Learn more at ChristianCreditCounselors.org On today's program, Rob also answers listener questions: Should you contribute to a 401k through an employer if the employer doesn't match any of your contributions? Does receiving a large inheritance make you more likely to be audited by the IRS?How can you determine what taxes will be due on the sale of a property that belonged to a now-deceased parent? Should you always try to get out of debt as quickly as possible, or does it sometimes make sense to simply continue making monthly payments and use the money you would have used to pay off the debt in other ways?Do you have to pay taxes on inherited money?   RESOURCES MENTIONED:Find a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

INTEREST RATESMortgage interest rates are still elevated, around 7%. But Dale says what's unusual here is that typically when inflation drops, rates drop along with it because the bond market, which drives interest rates on mortgages, generally responds favorably. That has not been the case for the last couple of months. And that's due to some other factors. For one, the Fitch downgrade of the U.S. government's credit rating was a big deal that really held back rates. But Dale adds that a number of signs point to 2024 being a much better year in terms of interest rates.Doug Duncan, the chief economist for Fannie Mae and Freddie Mac, really believes — and so to the other experts — that we're going to be in the mid-fives to probably low sixes and 2024 in terms of interest rate percentages. It could even hit the low fives.  HOME VALUESDale notes that in the first half of this year, we actually saw a 10% increase from January through the end of May. But listing prices are starting to drop on properties, and that is always the leading indicator for values. In June, we saw the lowest increase in 11 years, it was only 1.6% annualized. So we're probably going to be looking at a 6% total appreciation by the end of this year. Some markets may even see decreases in property value, but we very likely won't see significant declines anywhere.  IS NOW THE TIME TO BUY? Believe it or not, this may be a great time to buy.Dale explains that most people think there's no way this is a good time to buy, but that has helped to lessen the buyer competition in the housing market. If you wait until rates go down, what's going to happen is that many buyers will come back into the market, and it's going to be hard to find a house amid another round of bidding wars. And that has helped to moderate home values somewhat, which puts buyers in a stronger bargaining position. One of the things that we've seen this year is over 40% of sales have included seller concessions. So you can get that now, which certainly wasn't the case not all that long ago. And there are huge tax advantages right now because of the rates, which actually offset some of your payments. When you look at the tax benefits on the backside, add all of those things up, and you might be better off buying now and perhaps refinancing when rates drop.Learn more about Dale Vermillion at DaleVermillion.com.  On today's program, Rob also answers listener questions: Are you required at a certain point to transfer a CD into another IRA CD? Are there good, safe alternatives to banks for where to keep your money? How do you begin to secure your financial future after a divorce? Do you need a living trust in order to avoid probate? How should you think and pray through the process of deciding how to divide your inheritance in your will?  RESOURCES MENTIONED:Splitting Heirs Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 

Your first step before making any financial decisions should always be prayer! You should invite God to be a part of all your financial affairs and decisions, especially now as you begin the process of settling your loved one's estate.It is enough simply to pray for wisdom in this challenging time. James 1:5 teaches, “If any of you lacks wisdom, let him ask God, who gives generously to all without reproach, and it will be given him.”Romans 8:28 reveals just how much the Lord wants to guide and strengthen you. It reads, “The Spirit helps us in our weakness. For we do not know what to pray for as we ought, but the Spirit himself intercedes for us with groanings too deep for words.”After a time of prayer, you'll feel more confident and ready to take on the challenge of settling your loved one's estate.  HERE ARE THE 6 STEPS YOU NEED TO TAKE:1. Get a copy of the death certificate. This is the legal record of your loved one's death. It's usually prepared by a medical examiner and provided to you by the funeral home you're using for the burial. You may also obtain a copy at your county vital records office.It may take a few weeks to obtain the death certificate. If you haven't received one in that time, contact the funeral home or records office to check on it. You really need a copy of the death certificate to begin the other steps in this process, and it's especially important if you're the executor of the estate because most of the actions you'll take require a copy of the death certificate.2. Start the probate process. Take the death certificate and a copy of the will down to your county probate office and file a petition to begin the probate process. If you're the executor, you can then begin carrying out the deceased's last wishes as specified in the will.Ah, but what if there is no will? Well, then things get a bit more complicated. You'll still take the death certificate to probate court and petition the court to begin the probate process. You can also request to be named administrator of the estate, but there's no guarantee the court will honor that request.The probate court will then decide, according to state law, how the deceased estate will be divided up among the heirs. Things may get complicated at that point, and you may want to have an estate attorney help you through the process of distributing the assets. We recommend getting someone with the CKA designation. Just go to FaithFi.com and click Find a CKA..3. Notifications. Next, you begin notifying the deceased's financial institutions and advisors, if any. If your loved one had a financial advisor, that person can be a huge help in determining what assets are involved. You can also check the current balances when you notify financial institutions of your loved one's death.Here's where you may discover that some assets can pass directly to beneficiaries without going through probate. Check with administrators of retirement and standard brokerage accounts for transfer on death or TOD instructions. For banks, check for payable on death or POD instructions. You'll probably have to provide a copy of the death certificate to get the funds released.At this point, you should also notify the three credit reporting agencies, Equifax, Transunion, and Experian of your loved one's passing. Again, you'll need the death certificate. They will close those accounts. Get copies of the reports and check to make sure everything is in order and that there are no fraudulent accounts or transactions.4. Contact life insurance.  Step four is to contact the deceased's life insurance company or companies. You'll need the death certificate here, too. Also, cancel other types of insurance, such as auto or disability that are no longer needed.5. Notify government agencies.  Step five is to notify any affected government agencies. Interestingly, the funeral director often notifies Social Security of a decedent's death. Check to confirm that and also notify Medicare and the VA if necessary.6. Prepare final taxes.  Finally, step six is getting started on the deceased final taxes. Here is where you really should bring in a professional, such as a CPA to help you with this. This process is likely to be far more complicated than your regular, annual tax filings. Again, we recommend getting someone with the CKA designation.Remember to pray for guidance and know that you are never alone. Romans 13:5 assures you, “Never will I leave you; never will I forsake you.” On today's program, Rob also answers listener questions: When does it make sense to switch financial advisors? Are proceeds from an inheritance taxable?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

As we often say, there are only four things you can do with money: Live, Give, Owe, Grow. Dessert lovers can picture this as a pie. Do you remember when you were a kid and your sibling took a bigger piece of a pie? The same thing happens with money. When one area of money allocation takes a bigger slice, another area must shrink. Now, most often the world makes money decisions or “cuts up their pie” in this order: Live, owe, grow, give. God's order is different. Have you noticed that His ways tend to be the opposite of the world's ways in every area of our lives? His Word even tells us this. Isaiah 55:8 reads, “For my thoughts are not your thoughts, neither are your ways my ways, declares the Lord.”God's order for money decisions is: give, grow, owe, live. HOW IS GIVING DIFFERENT FROM THE OTHER THREE MONEY DECISIONS?Even though when we talk about finances, giving is expressed as an amount, giving is actually an indicator of the heart.  Giving breaks the power of money in our lives. But it can become legalistic if the focus is on the amount and not on the attitude.So let's talk about the heart.The purpose of wealth is giving. 2 Corinthians 9:8 tells us that God is able to bless you abundantly SO THAT you can be generous and share with others. The whole purpose of our wealth is to be generous and share. Next, we need to understand the purpose of the tithe. There are four things that the tithe does. Deuteronomy 14:23 tells us, Eat the tithe of your grain, new wine and olive oil, and the firstborn of your herds and flocks in the presence of the LORD your God at the place he will choose as a dwelling for his Name, so that you may learn to revere the LORD your God always.Tithing also helps us to discipline ourselves to put God first and give Him our best. Thirdly, tithing can be a meaningful guideline to help us as we make decisions on our giving. And then finally, tithing gives a roadmap or a pathway on how to give so that you may learn to revere the LORD your God always. HOW DOES GIVING RELATE TO OTHER USES OF MONEY? Let's talk about those four things you can do with money. We'll start with “Live.”LIVE: First of all, lifestyle decisions can actually hinder your giving when you have a lack of margin, time, and money. Those are your two greatest barriers to giving.And here's a practical tip: Take the big three assessment at FaithFi.com/live to determine whether your living expenses might be limiting your giving opportunities.OWE: We know that the Bible tells us the borrower is slave to the lender. Proverbs 22:7 tells us that when you're over-committed to debt, your hands are tied in giving decisions. So your money has to go to the lender instead of the option of giving to others.GROW: You might wonder how your saving can hinder your giving. Well, first of all, saving is important. It's Biblical, but … are you relying on your savings more than God?  Are there times when He might call you to actually give from your savings? So the bottom line is, the order matters. Give first, whatever is left until the last is going to receive the leftovers. And if you leave giving to last, it gets leftovers and we certainly don't want to do that. On today's program, Rob also answers listener questions: How should you balance investing with paying down your mortgage? What is the best way to save and invest for a child's future? When does it make sense to take a pension in a lump sum? How can you choose the right financial advisor for you? When does it make sense to cash out a life insurance policy to cover expenses?  RESOURCES MENTIONED:Sound Mind Investing Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

“Give justice to the weak and the fatherless; maintain the right of the afflicted and the destitute. Rescue the weak and the needy; deliver them from the hand of the wicked.”Chikondi Phiri is Country Director of Family Legacy Missions Zambia, empowered by Family Legacy Missions International, a ministry that is literally changing the lives of thousands of kids in Zambia today. Most Americans don't understand how desperate many of Zambia's children are for basic things like food, shelter, and education. In a country with about six and a half million children, more than a million are orphaned due to AIDS and other factors.Family Legacy implements a unique blend of holistic care. They equip children with literacy and numeracy skills necessary for life. They also help students come to know Jesus Christ and live out the Gospel through a well-structured curriculum, discipleship, and Bible studies. Students also have the opportunity to eat one hot and nutritious meal every day at school. And for some students, this is the only meaningful meal they have in a day. They also provide medical care and have a highly effective emotional care program underpinned by a biblical ethos.For most children in Zambia, graduating from high school is a far-fetched dream, but through Family Legacy's sponsorship program, more than 500 students graduated last year. They are working to help ensure that every child who goes through their program is guided and empowered to live out their God-given potential, whatever that is. Learn more about their ministry at HopeForZambia.com/Faith. On today's program, Rob also answers listener questions: What are the TSP rules surrounding withdrawals at age 55 or later? Is it wise to invest a large sum of money in cryptocurrency? What financial tips should you give to a young couple preparing for marriage? If you have whole life insurance policies, would it be better to chase those in to pay for a home renovation rather than borrowing for the costs?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

When you think about it, the amount of interest you pay over the life of a 30-year mortgage should be plenty of incentive to pay off the loan as fast as possible.Let's say you take out a $250,000 30-year mortgage at 7%. At the end of that term, you'll have paid almost $350,000 in interest alone, making the true cost of the home closer to $600,000.But let's say with 25 years to go, you decide to put an extra $250 a month against the principal. That will actually shave off six years and 10 months' worth of payments and save you just over $83,000 in interest.So, the potential payoff for getting rid of your mortgage early is huge, and it really needs to be a priority in your financial decision-making. There are four steps to getting there.First, you need a spending plan. That's not just because it's a good idea and everyone should have one, which is true. You need a budget because you can't start the process of accelerating your mortgage payments without one.And setting up your spending plan is now easier than ever with the FaithFi app. It uses a digital envelope system to make budgeting easy. It will also track your spending and reveal things you can cut out to free up more cash.Here are a few budget-cutting ideas:Dump your cable or satellite service and go with a streaming package. You can probably save $50 or $100 a month just doing that.Take a break from eating out. Try to go a month making all your meals at home. You'll probably save a few hundred dollars.Finally, see how long you can go without buying new clothes. That would probably save you many hundreds of dollars, as well.You can probably come up with some great ideas yourself to save money that you can then apply to your mortgage.Once you know how much extra cash you have to put on your mortgage, you can make it a budget category all by itself. Remember— even $100 a month extra applied to the principal on your mortgage will shave off a few years of payments. So you'll want to put as much as possible into that mortgage payoff category.You may start to feel deprived because you've cut out a lot of your “fun” spending. It helps to celebrate milestones along the way. A special dinner out, maybe, whenever you've paid off another $1,000 in mortgage principal. Just keep celebrating within the budget.Now, the next step is something anyone can do, even if you've been thinking up to this point that you have no surplus cash to put on the mortgage. It's using money that comes your way outside of your normal paycheck. Some call it “found” money or “mad” money. Make a commitment to put that unexpected cash on your mortgage principal, as well as the surplus money from your budget.Where does this extra money come from? It could be just about anywhere: overtime pay or a work bonus, money from work you do on the side, a tax refund, gift money, or cash you get from selling stuff.The trick is to apply that money to your mortgage principal as soon as you get it. Don't think of it as mad money that you can spend any way you like. Don't let it sit around tempting you. Most lender websites now make it easy to apply extra payments to the principal.And while you're logged in, you'll be able to see the running balance of your principal. Keep track of it. Watch it go down faster as you make extra payments. That'll help you stay motivated.This isn't something you want to delay. The sooner you start, the more money you'll save, and that's money you can put to better uses. Be patient— you're in this for the long run. Proverbs 21:5 says, “Slow and steady plodding brings prosperity … “Okay, we hope that helps you get started today on your early mortgage payoff plan. Let us know how it's going. We'd love to hear from you. On today's program, Rob also answers listener questions: What is the best retirement investing approach for a couple in their 30s? If you have a small business, are you required to pay taxes quarterly? When parting ways with an employer, should you roll the funds out of your current 401k? What's the wisest investment approach for a 29-year-old?  RESOURCES MENTIONED:madeitknown.comSchwab Intelligent Portfolios Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  

Okay, it's time for some true confessions about your giving. Has your electronic donation at church every Sunday become a bit automatic? Or, perhaps you're struggling financially right now, so you've reduced your giving and you're feeling a bit guilty.  Then again, perhaps decisions about how much and where to give are causing tension in your marriage, so you end up dreading those conversations.There are so many ways our generosity can become stale and un-joyful.  If that's the case for you, it's time for a renewed perspective, and we're going to help you with that. BIBLICAL GENEROSITYLet's begin by remembering that Christian generosity is different from the world's idea of generosity.  Giving that honors God is not about showing off, or improving our self-esteem, or even getting buildings named after us.  Ultimately, Christian generosity is different because we serve a different master. As it says in Ephesians 5:1, “…be imitators of God, as beloved children. And walk in love, as Christ loved us and gave himself up for us, a fragrant offering and sacrifice to God.” Because of love, Jesus gave his life on the cross for us, and we imitate him when we are radically, sacrificially, and joyfully generous.Another thing to remember about giving is that sometimes the action needs to precede the feeling.  In other words, even if you don't feel joyful about giving sometimes, keep doing it anyway because generosity pleases the Lord. Ask Jesus to guide you as you give in faith, and the joy will come.Here's another way to renew your perspective on generosity: Cultivate a biblical attitude about your giving. God's word says our giving should be secret, open-handed, cheerful, loving, and sacrificial. Let's look at those attitudes more closely.First, giving should be secret, not showy. That way, the glory goes to the Lord, not to the giver.  Jesus admonishes his followers in Matthew 6 to “Be careful not to do your ‘acts of righteousness' before men, to be seen by them. But when you give to the needy, do not let your right hand know what your left is doing, so that your giving may be done in secret.”Second, giving should be open-handed, not stingy. 2 Corinthians 9:6-7 says, “Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously.”  Remember, what we have is not our own. It all belongs to God, whether it's time, talent, or treasure. So, we can always afford to be generous, because God is our provider.Third, giving should be cheerful, not reluctant. The passage in Second Corinthians goes on to say “Each man should give what he has decided in his heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.”  Having a cheerful attitude about giving might be a challenge.  You may have to ask God to change your heart in this area. Believe me, he will do that, because a cheerful attitude towards giving is his desire for you.Fourth, giving should come from love, not obligation. Giving that glorifies God springs from love for God and our neighbor. That love isn't something you can produce…it's a work of the Holy Spirit in you.Finally, giving should be sacrificial, not necessarily convenient.  Sacrificial giving makes us more like Christ. Second Corinthians chapter 8 verse 9 says, “For you know the grace of our Lord Jesus Christ, that though he was rich, yet for your sakes he became poor so that you through his poverty might become rich.” Sacrificial giving is a testimony that we trust God to meet our needs while we meet the needs of others.To recap here, giving that honors God and fills us with joy from the Holy Spirit will be secret, open-handed, cheerful, loving, and sacrificial.  And believe me, there are spiritual benefits to cultivating these attitudes and actions.  Most importantly, God gets the glory. John 3:21 says, “Whoever lives by the truth comes into the light, so that it may be seen plainly that what he has done has been done through God.As Christ-followers, we long to be more and more like our Lord Jesus as we walk with him each day.  But sometimes you may still find yourself giving with a reluctant spirit, or because you feel guilty, or out of a desire to earn the admiration of others.  If that's the case for you today, ask Jesus to change your heart.  Pray for the Holy Spirit to guide you as you practice Christian generosity, knowing that God will provide for your needs and the needs of others through you. On today's program, Rob also answers listener questions: Will canceling credit cards adversely affect your credit?How should you go about combining IRAs?How do you best manage what happens with your finances upon your death?What is the best way to buy gold as an investment?What's the best life insurance policy for a 72-year-old married person? RESOURCES MENTIONED:Sound Mind InvestingNational Christian FoundationFind a Certified Kingdom AdvisorRemember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.  

Aaron Caid is our go-to guy for what's happening in the banking industry. He's the Chief Marketing Officer at Christian Community Credit Union, an underwriter of this program.Aaron says we are starting to see what could be the next big exodus for Christians in the marketplace today, and that is Christians choosing to bank with their values.CCCU has been hearing from new members who have joined the credit union after becoming fed up with their secular bank. So they decided to go out and find out if this feedback was more than just anecdotal.  They surveyed over 1300 professed Christians across the country. Here's what they found: Over 30% had considered switching their bank in the last 12 months. And Christian values were one of the top three reasons why they wanted to do that. Over 60% cared deeply about managing their finances biblically, they want to honor God with their finances, not just the rest of their life. And over 50% said, it's now more important than ever, that their bank reflects and supports their Christian values.  Many CCCU members saw the politically motivated decisions that their former banks were making that were at odds with their Christian beliefs. CCCU also learned that many people switched from their banks over dissatisfaction with rates, fees, and poor customer service. But these were a statistical tie with the conflict with their personal beliefs. That means that alignment with Christian faith and values carries the same weight among Christians as bread and butter rates and fees. Christian Community Credit Union offers customers a way to address both of those concerns. They are unapologetically Christian and have been following Christ followers for more than 65 years. We are unapologetically Christian. Learn more at JoinChristianCommunity.com. On today's program, Rob also answers listener questions: Is there a good way to get rid of a timeshare? What is the best way to go about giving? Does a whole life insurance policy make sense as a way to ensure a death benefit if you have a child with special needs? What is the best way to go about meeting the financial needs associated with caring for a foster child?  RESOURCES MENTIONED:TUG2.comChristian Credit Counselors Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.  

James 4:13 and 14: “Come now, you who say, ‘We will go into such and such a town and trade and make a profit'— yet you do not know what tomorrow will bring.”A lot of folks are feeling uneasy about the future. How many more interest rate hikes can the economy take before sliding into recession? And what about the rollercoaster stock market?  Well, if you don't know what the future holds, it just means you should prepare and set certain priorities for managing your money. We'll share some of them now. Not all will apply to you, but there's probably something here for everyone. MONEY MANAGEMENT PRIORITIES1. Tackle that debt.  First, if you've been procrastinating about getting out of debt, now's the time to buckle down and do something about it. Interest rates on credit cards and variable rate loans like HELOCS have risen dramatically, so make paying down consumer debt an absolute priority.You can avoid the sting of rising credit card interest by contacting Christian Credit Counselors. They have pre-negotiated agreements in place with credit card issuers to lower your interest rates, and you can take advantage of them when you sign up for a debt management plan. They'll help you get rid of credit card debt 80% faster than trying to do it by yourself. You can get more information at ChristianCreditCounselors.org. 2. Re-adjust your budget.  We say “re-adjust” because you've probably already tweaked your spending plan to allow for last year's breathtaking inflation. But even though we're told inflation has fallen to below 4%, food prices have increased close to 7% over last year. So check to see where you're overspending and make adjustments.By the way, if you haven't downloaded the FaithFi app yet, this is a great time to do it. It offers three different ways to budget your money and provides the best biblically-based financial content on the web. So download it today.You might also have to add money to your housing category. Lenders are raising monthly mortgage payments to accommodate higher property taxes. Those tax hikes are the downside of rising property values, which are only on paper. Property tax increases are quite real, however, so you have to account for them.Now, you'll probably need to make up for these higher costs, and you can do that by shopping more carefully. Take advantage of weekly sales and coupons at the grocery store. For online purchases, use an app like Honey or Capital One Shopping to find the best deals and coupon codes.Now, if you've done all that and find you now have a few extra dollars, don't throw a party. Use the extra cash to … 3. Beef up your emergency fund.  If you don't have an emergency fund, that's your number one priority now. You've got to start putting money away for unplanned expenses, or you'll always be forced to borrow and go into debt when they occur.Open a savings account at an online bank to get the best interest rate, and start tucking away something from every paycheck. Set a goal of $1500. Then one month's living expenses. Eventually, you want to have 3 to 6 months' worth of living expenses. That way you'll be able to ride out a job loss or medical condition that prevents you from working for a time. 4. Don't let interest rates keep you from buying a home - IF - you're ready.  If you're a prospective homebuyer, especially if you're looking to purchase your first home, don't let current interest rates scare you away. But again, that's IF — and ONLY if — you're in a good financial position to buy a home. What does that mean? You should have 20% saved for a downpayment to avoid private mortgage insurance. You also need to work up a budget that reflects your total housing costs, including your mortgage. It should not exceed 25% of your take-home pay.That will show you how much house you can afford within that budget. Stick to that number. Many lenders will be willing to loan you more than that number, but don't get carried away. Keep your payments within your budget, not the bank's. 5. If you're considering switching jobs, NOW may be the time to do it.  Employment remains relatively strong, but monthly job creation numbers are starting to come in below expectations. That tells us two things: First, if you've been planning to look for a new job, do it now while the economy is still creating jobs. And second, if you plan on staying where you are, do what you can to increase your skill set to make yourself more productive and valuable to your company.It's always a good time to do that — but now especially. Ask the boss for an opportunity to do more and be willing to take on new assignments.So those are your priorities for the uncertain times we live in. We hope you'll find them useful. On today's program, Rob also answers listener questions: When does it make sense to take money out of savings to pay down your mortgage? How do you determine the best way to position assets as you prepare for retirement? When is it a good idea to convert a garage into an efficiency apartment?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.  

The National Association of Realtors reports that in the first quarter of 2023, home prices actually rose in 7 out of 10 metro markets around the country. That happened even as the Federal Reserve continued to raise interest rates, pushing the average mortgage rate to nearly 7%.This isn't how things typically work. When mortgage rates increase, prospective buyers typically bow out, resulting in fewer sales, which then causes prices to fall. That's Economics 101. When demand falls, so do prices. But that's not happening, partly because demand is not falling.Prospective home buyers have apparently gotten used to the higher rates and are staying in the hunt. Meanwhile, prospective sellers are shying away from listing their properties because they don't want to pay those higher rates when financing their next home. The net result is that inventory or supply remains low, and with demand steady, prices will stay up. SO WHAT CAN YOU DO ABOUT IT?How do you buy a home in this market without breaking your budget?Start by not “going it alone.” Interview at least three real estate agents and pick the sharpest one. You want someone with a track record of helping folks buy homes in the neighborhood of your choice and who'll stay on top of new listings.You or your agent may want to make a list of the other real estate agencies in your area and make frequent calls to them, checking to see if they're working on potential houses that haven't been entered into the Multiple Listing Service yet. You might be able to make an offer before a house hits the market. But be ready to make a quick decision.You also want to get pre-approved for a mortgage before you set foot in the first house on your list. That'll give you a leg up over the competition that hasn't bothered to look into financing.But understand that the lender will likely approve you for a bigger mortgage than you'll be comfortable with. Work up an estimated budget that allows 25% or less of your take-home pay for housing expenses.Also, you have to realize that in this market, buyers can't be choosers. The goal is to find an affordable home that meets your needs, not your dream house. Be flexible with your “must haves” and be willing to make changes. Location is probably the most important thing to hold out for. Other things, like a finished basement, you can do later.Here's one that should go without saying: Don't bother trying to lowball a seller. With most homes selling near the asking price these days, making an offer well below that won't get you anywhere.To be competitive, you'll have to come in very close to the asking price,  if not a little above. Here again, your agent can help you come up with a realistic opening offer.It's happening less and less these days, but you could find yourself in a bidding war where emotions can run high. You'll need to keep your wits about you or you'll find yourself with a fat mortgage payment and eating a lot of Spam. Know the absolute upper limit of what you can spend and have the discipline to stop there.And don't try to put a lot of conditions on your offer. Sellers aren't in the mood to throw in a major appliance or give you a new roof allowance if you feel the house might need one. You have to keep the seller's interests in mind. For example, agree to a closing date of the seller's choice, not yours.And one final thought: You might consider doing nothing. That means waiting until the market moderates even further. Don't expect home prices to fall significantly in the future, but eventually, inventory should catch up with demand and you'll have less competition.You definitely should wait if you haven't saved up 20% for a downpayment yet. There's no sense in adding the cost of private mortgage insurance to your mortgage payment, which is likely to be high to begin with.PMI is required if you can't put 20% down, and it could run as high as $70 a month for every $100,000 you borrow. It only protects the lender in case you default. It has no value for you at all.So those are some tips for surviving a seller's market. We hope you find them useful. On today's program, Rob also answers listener questions: Is a balance transfer to a credit card offering 0% interest for a period of time a good way to pay off debt? When do you have to start taking a minimum required distribution and what's the best way to go about that? Are annuities a wise investment? What is the best way to tap into home equity?  RESOURCES MENTIONED:ChristianCreditCounselors.orgSchwab Intelligent PortfoliosFidelityCapital One 360 CheckingMarcus Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.  

The financial group Thrivent actually does an annual Boomerang Kids Survey. The latest one, just conducted in May, found that 41% of parents have an adult child currently living with them. The three most common reasons given for this were:Increasing rent and home prices, 35%Needing additional financial support after completing high school or college, 20%And job loss, 13%.  No doubt the disruptions caused by COVID have also contributed to the boomerang kid boom, even though employers were desperate for workers in the later stages of the pandemic and employment remains relatively strong. Now, an adult child living at home in and of itself may not be a big drag on parents' finances, if you're only providing what's called “three hots and a cot.” It's when you start picking up the tab for their smartphone, student loans, and car payments that things can get out of hand in a hurry. Many parents are willing to help their kids even to the point of their own detriment, even when it jeopardizes their retirement. In a brand new Bankrate survey, around half of parents said they've sacrificed emergency savings and debt payoff efforts to help their adult children. And 43% said they'd tapped into retirement savings to help their kids.This inability to cut the financial umbilical cord can have a detrimental impact on both parents and children. The kids may begin to expect regular financial handouts and become dependent on them.So, what to do about it? Well, first is realizing that you should do something about it. You don't want to have an adult child living at home unless there are mitigating circumstances, such as caring for you if you're disabled.Proverbs 10:4 reads, “A slack hand causes poverty, but the hand of the diligent makes rich.” As parents, we always want to help our children. But at the same time, we don't want to encourage our children to have “a slack hand.”Finding the dividing line between helping and hurting can be difficult, and that often leads to tension when spouses disagree on where one ends and the other begins. But it doesn't have to be a question of throwing your kid out on the street or breaking your budget. You can take on this challenge gradually.First of all, you need to set a non-negotiable requirement. Your boomerang child must have a job and be earning income. The type of job isn't important. Set a deadline. For example, “Moving out day is 2 months from now if you're not working yet.” There are plenty of jobs available, so this shouldn't be a problem.Once your boomerang kid is earning money, you can sit down with him or her and set up a budget and a financial plan. First and foremost in that plan will be saving to get their own place.You need to impress upon the child the need to live below one's means so that you can save. It's the key to all future financial success. You can offer to match your child's savings— temporarily— to accelerate the process.You want your child to save for an apartment, but also to save for emergencies. Their budget must allow for that once they're on their own. Otherwise, something will come up like a job loss or major car repair, and they'll be borrowing from you or moving back in.Of course, all of this is much easier if you are a financial role model. There's no better way to teach your children about wise money management than by showing them how you do it.Proverbs 22:6 tells us, “Train up a child in the way he should go; even when he is old he will not depart from it.”It's never too late to start teaching your children financial responsibility.And when you do, your boomerang child can once again leave your hand, this time, successfully. On today's program, Rob also answers listener questions: What do you do after you can no longer claim a minor as a dependent on your taxes? What is the best way to borrow to take care of repairs on your home? Would it be wise to move that money out of a TSP into something else?What can you do to get your credit score into ‘excellent' range? How do you determine which debt to pay off first?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.  

Some folks question whether it's okay to ask God for financial help. So first off, let's dispel the notion that God doesn't care about your money or that it's wrong to pray about your finances. Nothing in the Bible says that.If it's important to you, it's important to God. He wants to be a part of your life — your whole life. I John 5:14 says, “This is the confidence we have in approaching God: that if we ask anything according to his will, he hears us.”Now, there are two key points in that verse. First, you can ask God for anything. Second, He will hear your prayer … if it's according to His will. That's where things get a bit trickier. How do we know what God's will is for us, so that we can ask for things within it?It's critical to understand that throughout the Bible, God promises to meet your needs, not necessarily your wants and desires. If you feel a prayer has gone unanswered, you might be mistaking a need for a want.So let's make sure we understand the difference. A home and roof over your head is a need.  A want could be a four-bedroom house with 3 ½ baths, a downstairs rec room, a three-car garage, and a jacuzzi.  Now, there's nothing intrinsically wrong with any of those things if it's God's plan for you and your family.  Every circumstance is different and God's plan for every family is different. The key is to find His will for your life and to learn to be content with what He provides, even when you see others in the neighborhood with more.  1 Timothy 6 tells us, “Now there is great gain in godliness with contentment, for we brought nothing into the world, and we cannot take anything out of the world. But if we have food and clothing, with these we will be content.”Notice the Apostle Paul isn't even asking for a house, just food and clothing so he can continue to bring the Gospel to the Gentiles. We're not saying you should take a vow of poverty and head into the mission fields, we're just trying to give you perspective.Contentment and gratitude are important because God owns everything and He is our ultimate provider. John 3:27 says, “A person cannot receive even one thing unless it is given him from heaven.”We are simply His stewards, and as such, we're expected to manage His resources according to His principles. If you're not doing that, it's a good place to start improving your financial picture. Otherwise, how can you expect God to provide more? 1 Corinthians 4:2 reads, “Moreover, it is required of stewards that they be found trustworthy.”Something else to keep in mind, God's plan for you may only be for a season. He may someday give you a big raise or make you the head of the company you work for or send you to the mission field. You must practice patience and wait on the Lord.God is always faithful to meet our needs. He doesn't delight in your struggles. Paul says in Romans 8:32, He who did not spare his own son, but delivered him up for us all, how will he not also with Him freely give us all things?Okay, now you know the importance of praying within God's will, is there anything else to consider? Yes, there is.If you're really struggling to keep a roof over your head and food on the table, it could be that God plans to meet your needs through the abundance of a fellow Christian. He gives abundance to some, so they can share with people in need, and by doing that, His love and glory are demonstrated to an unbelieving world.Paul writes about this in 2 Corinthians 8:14: “... At the present time your plenty will supply what they need, so that in turn their plenty will supply what you need.”That means that if you struggle with an unmet need, let your church family know about it. You'll have to set aside your pride, but God will be glorified as your needs are met through the church family.Present yourself and your needs with humility to your church leaders and be grateful for whatever course they decide.God has not abandoned you or overlooked your needs. His plan is to provide for you in a way that meets your needs — all according to His will. On today's program, Rob also answers listener questions: Are we moving toward a completely digital currency? When does it make sense to take money from savings to pay off a mortgage early? How can you determine roughly what you might owe in capital gains on a rental property? After receiving a piece of property that was in a trust, do you sell that as a beneficiary or as an owner?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.

Okay, it's time for some true confessions about your giving. Has your electronic donation at church every Sunday become a bit automatic? Or, perhaps you're struggling financially right now, so you've reduced your giving and you're feeling a bit guilty.  Then again, perhaps decisions about how much and where to give are causing tension in your marriage, so you end up dreading those conversations.There are so many ways our generosity can become stale and un-joyful.  If that's the case for you, it's time for a renewed perspective, and we're going to help you with that. BIBLICAL GENEROSITYLet's begin by remembering that Christian generosity is different from the world's idea of generosity.  Giving that honors God is not about showing off, or improving our self-esteem, or even getting buildings named after us.  Ultimately, Christian generosity is different because we serve a different master. As it says in Ephesians 5:1, “…be imitators of God, as beloved children. And walk in love, as Christ loved us and gave himself up for us, a fragrant offering and sacrifice to God.” Because of love, Jesus gave his life on the cross for us, and we imitate him when we are radically, sacrificially, and joyfully generous.Another thing to remember about giving is that sometimes the action needs to precede the feeling.  In other words, even if you don't feel joyful about giving sometimes, keep doing it anyway because generosity pleases the Lord. Ask Jesus to guide you as you give in faith, and the joy will come.Here's another way to renew your perspective on generosity: Cultivate a biblical attitude about your giving. God's word says our giving should be secret, open-handed, cheerful, loving, and sacrificial. Let's look at those attitudes more closely.First, giving should be secret, not showy. That way, the glory goes to the Lord, not to the giver.  Jesus admonishes his followers in Matthew 6 to “Be careful not to do your ‘acts of righteousness' before men, to be seen by them. But when you give to the needy, do not let your right hand know what your left is doing, so that your giving may be done in secret.”Second, giving should be open-handed, not stingy. 2 Corinthians 9:6-7 says, “Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously.”  Remember, what we have is not our own. It all belongs to God, whether it's time, talent, or treasure. So, we can always afford to be generous, because God is our provider.Third, giving should be cheerful, not reluctant. The passage in Second Corinthians goes on to say “Each man should give what he has decided in his heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.”  Having a cheerful attitude about giving might be a challenge.  You may have to ask God to change your heart in this area. Believe me, he will do that, because a cheerful attitude towards giving is his desire for you.Fourth, giving should come from love, not obligation. Giving that glorifies God springs from love for God and our neighbor. That love isn't something you can produce…it's a work of the Holy Spirit in you.Finally, giving should be sacrificial, not necessarily convenient.  Sacrificial giving makes us more like Christ. Second Corinthians chapter 8 verse 9 says, “For you know the grace of our Lord Jesus Christ, that though he was rich, yet for your sakes he became poor so that you through his poverty might become rich.” Sacrificial giving is a testimony that we trust God to meet our needs while we meet the needs of others.To recap here, giving that honors God and fills us with joy from the Holy Spirit will be secret, open-handed, cheerful, loving, and sacrificial.  And believe me, there are spiritual benefits to cultivating these attitudes and actions.  Most importantly, God gets the glory. John 3:21 says, “Whoever lives by the truth comes into the light, so that it may be seen plainly that what he has done has been done through God.As Christ-followers, we long to be more and more like our Lord Jesus as we walk with him each day.  But sometimes you may still find yourself giving with a reluctant spirit, or because you feel guilty, or out of a desire to earn the admiration of others.  If that's the case for you today, ask Jesus to change your heart.  Pray for the Holy Spirit to guide you as you practice Christian generosity, knowing that God will provide for your needs and the needs of others through you. On today's program, Rob also answers listener questions: Will canceling credit cards adversely affect your credit? How should you go about combining IRAs?How do you best manage what happens with your finances upon your death? What is the best way to buy gold as an investment? What's the best life insurance policy for a 72-year-old married person?  RESOURCES MENTIONED:Sound Mind InvestingNational Christian FoundationFind a Certified Kingdom AdvisorRemember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.   

Going to college is a huge financial decision. A verse to keep in mind is Proverbs 22:7, which tells us, "The rich rule over the poor, and the borrower is the slave of the lender.” That should guide your decision process because it's so easy to borrow and run up tens of thousands of dollars in debt that will take you decades to pay back.In his book, Art Rainer lists four ways to minimize debt. 4 WAYS TO MINIMIZE DEBTStart saving nowTake college level of AP courses nowExplore scholarships and grantsBe willing to work while in schoolWe're not saying those things will be easy, only that they're easier than paying back $30k or $40k  in student loan debt. But Art has another list that can make this whole process a lot easier. MISCONCEPTIONS THAT COULD COST YOU A FORTUNEKnowing and avoiding these misconceptions could SAVE you a fortune. MISCONCEPTION 1:  Attending a costly school will get you a better job. Higher tuition does not always equate to higher salaries. Employers don't look at the amount you paid to get a college degree. They just look at your degree. MISCONCEPTION 2:  You need the whole “college experience.” They're choosing to work to help offset tuition costs so they won't still be paying on student loans 10 years after graduation. MISCONCEPTION 3:  It's ok to stretch out college. Certainly, there is some leniency here, but be very careful when choosing to stretch your degree program. You may end up paying more, and you run a greater risk of not completing your degree. And don't take throwaway classes. Make your investment worth it. MISCONCEPTION 4: You don't need to know what you're signing. Educate yourself on student loans. Before you sign any papers, understand the commitment involved, what it'll take to pay off the loan, and what alternatives are available. MISCONCEPTION 5: Everything will take care of itself. Student loans are stubborn things. They even survive bankruptcy. We're less concerned with the student who feels burdened by their loans than the one who feels no burden from their debt. Unless you manage to get through the obstacle course of a debt forgiveness program, which is not easy, your loans will have to be repaid … no matter what.  MISCONCEPTION 6: There's no other option. Without question, the cost of higher education is a formidable challenge for many current and future college students. But this doesn't mean there aren't other options. Diligently pursue scholarships and grants. We like to say it's better to put in the hard work now, saving, applying for scholarships, and working while you're in school than to have to pay back student debt later at interest. On today's program, Rob also answers listener questions: When might an index fund be a wise investment? How do you determine the right diversification for your portfolio? Why might progress in paying down the principle on a mortgage seem to move so slowly? What's the best way to set up college funds for grandchildren?  RESOURCES MENTIONED:Find a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.   

Today, we're picking up where we left off in our last conversation with Jerry in our series on a Christian Economic Worldview. And this time we're talking about what  he calls “Principled Reasoning.” But we might add the subtitle, “A Way Out of this Mess.” We'll start with a few key questions: First, is there a way out of the confusion and the futility of boom and bust cycles?And is there a way out of the confusion of a fragmented worldview that leaves out cause and effect and leaves us unable to understand the relationship between different parts of the economic process, wealth creation, and of course the investment decisions that we have to make?Is there a way to properly value stocks and bonds and other investments relative to risk in a world where confusion reigns? The answer is yes, there is a way out. We call that way out principle-centered reasoning. PRINCIPLE-CENTERED REASONINGWhere does this principle-centered reasoning come from?It doesn't come from the smartest person in the room because the smartest person in the room is who got us here. And the idea Is not to surrender to the idea that It's a random universe, fragmented and confused, in which there's no coherence or systematic understanding, but to acknowledge that there are certain foundational principles that have caused the United States and much of the Western world to perform well economically and given rise to some of the great economic and political minds of the modern world. And that if we go back to those foundational principles we can again make sense of the world. And that starts with the idea that God is in the center of reality. As the creator of reality, he's created a rational universe because he's a rational God, our minds being made in his image are able to see clearly as well. Not perfectly clear.We see through a glass darkly, Paul says. But just because you see through a glass darkly doesn't mean that you can't see at all. And so we bring man back together with God. We bring God back to his position, not relegated to some irrelevant otherworldly status, but engaged in his world. HOW DO WE BRING MAN BACK TOGETHER WITH GOD, ECONOMICALLY SPEAKING?We look at the demographics of man and woman and generations and we see that another principle is that people are economically productive by nature because they're created to be. They are creative like God, which means a new person who comes into the world, yes, that new boy or that new girl is a mouth, but they're also a mind and two hands. And when they're allowed to be free and be like their Heavenly Father and productive, they lead to economic growth, they lead to prosperity and they lead to abundance. So you pull man back into the picture in man's relationship with the earth and we see that we're actually designed to work on the earth.We see that the God who made man and the God who made the earth is one God with one mind and we are compatible with one another. We run on the same software. That software is the divine mind. We are made in God's image and are able to think about the world in terms that make sense because the God who made our minds is also the God who made the world. And so abundance is possible and productivity gets placed back in the position of its centrality in the economic process that more people yielding more people yielding more productivity can cause the entire economic pie to grow. HOW DOES THAT HAPPEN? WHAT MAKES THE ECONOMY GROW? To bring economic growth back in, we bring investments back in, we bring consumption back into the picture and we get back to that trade-off where greater investment means greater economic growth and our production possibilities frontier begins to expand again.And we see the relationship between those things and we see that that is the basis that this economic growth leading to greater investment is the basis of our capital markets. That we have to save in order to invest and that we have to invest in order to grow. And so the capital markets move back into a position of coherence with the rest of the system. We're no longer left completely unable to measure the amount of risk. We're not left completely unable to say what is the proper level of risk.We are taken out of a world of confusion. We're human, double-minded in nature, and therefore unstable and given to excessive optimism, excessively low-risk evaluation and then given to excessive pessimism, excessively high-risk evaluation. When we set things right, however, we're not trapped in that because we can see what the valuations should be. Given economic conditions and given the actions of the state, we put the state back into the system and see the relationship between policy, tax policy, spending policy, borrowing policy, and monetary policy and see how that affects the economy. See how that affects productivity, the economy, the availability of capital, and the proper valuation of assets.So the first thing we have to do to get out of this mess is to see and think clearly— see the system as a system that fits together coherently with cause and effect. WHAT COMES NEXT? Let's zoom in and take a closer look at the investment markets. Now that we've used principle-centered reasoning to understand that a high-risk environment is an environment in which the principles are not being honored. Let's take a look at how different Investments perform in these different environments.Remember, this is very important. The riskier the environment, the more yield you want to compensate you for that risk. So what are the various risk factors? There's one risk factor that we're likely all aware of. Which has to do with economic growth. Now, this is going to be a little bit more finance, maybe than you're used to, but if you follow along carefully, we think you'll understand this. Bonds pay a yield. It's a percentage of what you invest in the company or in the government. Say a hundred thousand dollars spent on a bond and they give you five thousand dollars a year. That's a five percent yield. Most people are not used to thinking of stocks that way, because usually stocks are either described in terms of their price or in terms of a PE ratio, which is the price of the stock compared to the earnings. In other words, the number of years you have to wait in order to get your money back. But if we just switch that around and make it earning/price, then stocks can be evaluated the same way as bonds.Stocks in that way, like bonds, are promises to be paid something in the future and that's why stock yields tend to be higher than bond yields.That seems easy enough to understand, so …  WHY ARE THINGS MORE COMPLICATED IN REAL LIFE? Because other risk factors enter the picture, and an extremely important one is inflation. Because every kind of paper that you can invest in involves a future cash flow expectation. You expect to get your money paid back to you plus a certain amount. They're all an IOU of some form or another. So, what's the risk? The risk is when you get the money back, it's not worth anything or it's worth a lot less than it is. Now that's inflation. Academic theories of portfolio management almost always leave that risk out, but that risk is pervasive in environments where the principles are not being honored.Now, why doesn't that happen right away? It doesn't happen right away because there are a number of people who don't understand the principle. So they don't see the connection between these things. It doesn't happen right away because monetary policy tends to create confusion. Human nature tends to go from excessive optimism to despair and pessimism. A double-minded man is unstable in all his ways and without principles.You and I and everybody else tend to misjudge the amount of risk because here we think we can do no wrong. I'm a day trader and it will always go up. And here we say, I'm never going to invest again; this market is so terrible. So using principle-centered reasoning, you identify the proper amount of growth risk and you identify the proper amount of inflation risk. HOW DO WE DEFINE INFLATION RISK? It's whether the entire set of financial investments is not properly compensating you, for the level of inflation, and to the degree that the crowd of people driven by emotion and confusing government policies are pushing these yields higher or lower than the proper valuation.To that degree, that creates opportunities to buy and sell. And of course, there's also investing off this curve entirely, which is the commodities market, which tends to do very well in times of inflation because you can print dollars, you can print Yen, you can print Euros. You can print any of the currencies that are out there in the world, but you can't print copper and you can't print oil and you can't print gold. So in environments like this, where risk yields, inflation risk yields are driving the entire stock market into risk territory, one of the ways to deal with that is commodity investing.Jerry Bowyer is our resident economist here at Faith and Finance. He's also the author of The Maker versus the Takers: What Jesus Really Said About Social Justice and Economics. On today's program, Rob also answers listener questions: Is it wise to take money out of an IRA to pay off a vacation home mortgage? Should you pay tithes on money received from an insurance claim?What are the rules surrounding the funding of a Roth IRA?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.   

The Bible is filled with directions for living the Christian life, but not all of them made it into the Ten Commandments. Exodus 20:16 reads, “You shall not give false testimony against your neighbor.”That's a very broad commandment. It doesn't apply only to legal proceedings or even finances, for that matter. It means we are never to be dishonest anywhere at any time. Now, I know what you're thinking. “What about Exodus 1, where the Israelite midwives deceive Pharaoh to protect infants … and Joshua 2, where Rahab lies to save the Israelite spies? Why are those cases seemingly acceptable to God?Well, those were times when two conflicting moral imperatives collided head-on, telling the truth and saving lives. Because we are made in the image of God, saving human life obviously wins out and that's what the midwives and Rahab did.But it's very unlikely any of us will ever be in a similar situation, so let's get back to why honesty is so important for the rest of us. GOD IS TRUTHAnd that's simply because it's so fundamentally important to God. He's completely and utterly holy and cannot abide sin of any kind, including dishonesty. God is truth.Jesus says in John 14:6, “I am the way, and the truth, and the life. No one comes to the Father except through me.” Compare that to Satan— whom Jesus describes in John 8:44 as, “a liar and the father of lies.”The world is watching to see which side we're on. We're image bearers of God— so we must always be scrupulously honest.Now, as we turn to financial honesty specifically, you might wonder why we're not focusing on another commandment, “Thou shalt not steal,” which comes right before “thou shalt not lie.”We don't think that's a coincidence. Those two commandments are linked and expand on each other. It's difficult to do one without doing the other. When it comes to finances, they're two sides of the same coin. How can you steal without first being dishonest? How can you be dishonest with money and not be stealing from someone?Now, one of the things we say a lot on this program is that money in itself isn't important to God. It's only a tool. If that's true, you may wonder why not stealing was important enough to make it into the 10 commandments.Well, God already owns everything, so no, money isn't important to him, but honesty is because God is truth. In Luke 16, the Parable of the Dishonest Manager, Jesus says, “One who is faithful in a very little is also faithful in much, and one who is dishonest in a very little is also dishonest in much."Jesus is talking about money there, and more specifically, He's teaching that how we manage it is a measure of our character.We've talked a lot about honesty, but what about dishonesty and the consequences of it? Obviously knowing that we'll have to stand before the Judgment Seat someday to answer for every lie we tell should be a strong disincentive.But there could be other, more immediate consequences. We take a risk when we're dishonest with money. We could lose God's blessing in our affairs and that doesn't have to involve money.Consider Romans 12:2— Most of us are familiar with the first part of that verse, “Do not be conformed to this world, but be transformed by the renewal of your mind …”But we often miss the second part, “ … that by testing you may discern what is the will of God, what is good and acceptable and perfect.”The whole verse implies that there's a blessing in doing God's will, a key part of which is to be honest in all of our dealings, financial and otherwise. That's not necessarily a financial blessing. Often, it's something even better.For example, one blessing you receive by handling money honestly is that you reduce your stress level. Even if it costs you money, you have peace of mind in knowing that you're pleasing God, the One who gives you everything.So there you have it, the case for biblical honesty at all times, in all places, including your finances. On today's program, Rob also answers listener questions: How do you determine the best thing to do with a lump sum of cash? What's the difference between a ‘transfer upon death' of a home vs just leaving it to a person in a will? Is now a good time to invest in a rental property? Do you have to pay taxes on an inherited home?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.   

Years ago when online banks were first appearing, we got a lot of calls from folks wondering if they were safe. Now it seems we're getting that call volume again with folks wondering if putting their money in an online bank is a prudent thing to do, possibly as a result of a few bank failures this past spring.Banking is perhaps the most heavily regulated industry in the U.S., but it isn't foolproof. Managers are human and humans make mistakes. There will always be bank failures, but the system we have in place makes bank closures rare and isolated.Now, if you're concerned about putting your money in a bank that has no branches— no actual buildings that you can physically walk into— you should know that there's actually very little difference between a so-called brick and mortar bank, with branches, and an online bank that exists only in cyberspace.In fact, to most customers of brick-and-mortar banks, there's no difference at all, because they never go into a bank branch these days. That was a trend already well underway when COVID hit, forcing many banks to close branches to walk in traffic. Since you can deposit a check with a smartphone now, many people have little need to actually go to a bank.Banks, of course, have noticed this, and they've been closing branches right and left over the past few years. In 2020, there were around 90,000 brick-and-mortar bank branches in the U.S. By 2022, that number had fallen to just over 70,000. Banks need fewer branches these days because they're now offering all or most of their services online, as well.Now, there's no doubt that some people want in-person banking and the ability to sit down with a loan officer face-to-face. But it seems a lot more people are content to do their banking completely online, often with just a smartphone.But if folks can have that same “cyber” experience with a brick-and-mortar bank, why are so many people flocking to online banks and leaving brick-and-mortar behind? It's simply a matter of interest. Online banks have significantly higher yielding rates and lower fees than traditional banks. That's because they don't have the overhead costs of maintaining dozens or hundreds of brick-and-mortar branches.Still, to some people, the idea of not being able to physically go to a bank branch and take out their money is worrisome. Just how safe are online banks?The answer is: They're every bit as safe as brick-and-mortar banks and credit unions, as long as they're federally insured. That means they're backed by the full faith and credit of the U.S. government in the unlikely event that it fails. The Federal Deposit Insurance Corporation (FDIC) insures deposits at federally insured banks. The National Credit Union Administration insures deposits at federally insured credit unions. In both cases, that coverage is a maximum of $250,000 per person, per institution.So, an online bank has the same insurance coverage as a brick-and-mortar bank, as long as it's FDIC insured. And you can check on that. Go to FDIC.gov and use their “BankFind” feature or visit NCUA.gov and use their “Research a Credit Union” tool to verify if an institution is federally insured. But you'll probably have a difficult time finding one that isn't.Now, what about cyber-security, you ask? If everything is done online, doesn't that make your account more vulnerable to hackers and thieves? Well, all banks, as well as online vendors, have a vested interest in preventing that.They use data-encryption technologies such as two-factor or biometric authentication, electronic signature verification, and continuous account monitoring.But customers have to do their part to maintain cyber security, too, and that's whether they use an online or brick-and-mortar bank. That starts with having a secure internet connection and a strong password.Never use public wifi to access any of your accounts, either financing or shopping. You should also sign up for banking alerts for suspicious transactions and two-step identification. It's also a good idea to use a password manager that enables you to use random, complicated passwords and to change them easily. Also, never repeat a password for different accounts.So, to recap, the question was, “Are online banks safe?” And the answer is, “As long as they're federally insured, they're every bit as safe as brick and mortar banks.” We hope that eases your concerns, so you can take advantage of the higher interest at many online banks. On today's program, Rob also answers listener questions: Is it wise to invest in a livestock contract? How should you structure your will regarding a house when you want to leave an inheritance to multiple people? What are the rules surrounding the purchase of I-bonds?When is it wise to buy a home as opposed to renting?  RESOURCES MENTIONED:Find a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach. 

RENT OR BUY? It used to be almost universally true that, at least in the short term, it was cheaper to rent a home than to buy one. But that's not necessarily the case today. Aimee says some markets are seeing a staggering increase in rent. Limited supply is one of the factors that has driven up both rental and purchase prices in recent years. She says, “Part of it is the fact that there's a continually rising number of what they call new home creations, which are new people needing to buy homes. And the pace of building is not keeping up with that.” Also, after COVID, many people learned that they could work remotely from home, so during and after the pandemic, we saw a surge in people buying second homes. Those are two of the factors that have impacted the inventory shortage. RECOMMENDED STEPSSo what steps should you take if you're considering buying a home? First of all, check into first-time homebuyer programs, and downpayment assistance programs to see if you qualify. Also, talk to a loan officer who can run your credit, talk about your credit profile, and discuss your long-term goals and strategies. They can provide you with next steps on what you need to do to position yourself to be able to buy a home.While rates are higher now than they were not long ago, historically speaking, they're still relatively low. So there is an opportunity to get in now if you're financially prepared to buy. And there probably isn't a point in waiting around for home prices to fall, because experts largely seem to consider that to be unlikely to happen anytime soon, given that demand continues to outstrip supply in the housing market.  WHY ARE THEY DIFFERENT? One thing that sets Movement Mortgage apart from other lenders is its Christian mission-driven outlook. Movement Mortgage gives away nearly 50% of its profits to worthy causes. Since 2012, Movement has given more than $300 million to the Movement Foundation to uplift people and communities across the globe.You can visit Movement.com/faith to find a loan officer in your local area.  On today's program, Rob also answers listener questions: Is it okay to give your tithe directly to a pastor? What is an appropriate fee for a financial adviser to charge? Does it ever make sense to use prepaid credit cards versus traditional credit card accounts? When is it appropriate to give the last four digits of your social security when transacting business? How does it affect you if you allow someone to become an authorized user on your credit card?  RESOURCES MENTIONED:Experian Boost Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.

BACK-TO-SCHOOL TAX HOLIDAYSNow, obviously, you want to make the most of your back-to-school money, and that starts with knowing everything you can about sales tax holidays in your state. Deadlines really matter, and it seems like every state has set up different tax holiday periods.In many cases, these are set up as weekend events, but not always. Some may start on Friday and end on Saturday, so you've got to know exactly when your tax holiday starts and stops. In states with a sales tax, this could mean saving anywhere from 2-7% right off the bat.Okay, so now you know when to shop, but it's also important to understand just what will be tax-free in your state. Nerdwallet has a handy guide for dates and tax-free items by state. Some states allow cities and other taxing districts to opt out of these tax-free holidays, so you have to check to make sure stores in your city or town are actually participating. If they're not, you can always drive down the road to shop somewhere else.But do you need to do any driving at all? You may be able to do all of your shopping online. Most states with sales tax holidays allow for tax-free online purchases, as long as the items are ordered and paid for during the holiday, even if they're delivered later. So if you don't feel like fighting your way through thousands of other shoppers, check your local stores' websites for tax-free items.Of course, major online retailers like Amazon and Walmart also participate in state tax holidays, and they'll automatically deduct sales taxes on eligible purchases, so you may want to check them out, too.And if you haven't bought a membership in one of those big warehouse stores yet, now might be the time to do it. A membership might pay for itself in the savings you can get with back-to-school sales, and of course, they're all participating in sales tax holidays. OTHER SAVINGSOkay, now for some tips that apply even if you're not shopping during a tax holiday. First, you've got to determine how much you have to spend. That means, how much do you have to spend without using a credit card?Then make a list of everything you have to buy, and your kids' schools have probably given you lists of everything they'll need for the entire year. If you can't make all of those purchases with cash, divide the quantities in half or quarters and purchase only what you can afford now.But what about the tax holiday, you say?  “I'll have to pay sales tax on the other items I buy later.” Well, that's true, but does it make sense to save maybe 5% in sales tax now and then pay 20% or more in credit card interest on those items later? Of course not. So purchase only what you can with cash during the holiday period and then start saving so you can make the rest of your school purchases with cash in the months ahead.Okay, so you know how much you have to spend, and you've pared down your list of what you need to purchase. Now you just have to stick to that list. That won't always be easy, but stay with the plan and don't be an impulse shopper!  On today's program, Rob also answers listener questions: How should you reallocate investment assets as you near retirement? Can paying off credit cards actually hurt your credit score?How do you determine the right time to draw Social Security benefits? Would it make sense to sell your home now to cover certain expenses and buy once again when interest rates drop?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.  

THE PARADOX OF PROSPERITYThis is one concept in a video series he released a few years back on what he calls Transferable Concepts, things that he can share in a 30, 45, or 60-minute speech. And he shares these things over and over and over again because they're transferable and they're concepts that can change the way people view stewardship or money and money management.And one of the most compelling illustrations he shares is his own personal story. Ron says, “When Judy and I got married, we lived in a trailer on campus at Indiana University. It was 225 sq ft. It was 8ft wide, 6ft tall and 28 ft long. You could cook dinner and do the ironing without moving. When Judy did the ironing, I had to get out of the trailer or move to the back bedroom because there wasn't room for me and the ironing board in the front room. Well, as life went on, we had five children, 13 grandchildren, and began to manage college education, cars, all kinds of complexity retirement.”As the years went by and his wealth grew, he found that “more” equals more choices, which equals more confusion. When he lived in the trailer, he didn't have to make a lot of decisions.The point, he says, is not that everyone should live in a trailer. The point is: Don't fall into the trap that more will provide peace of heart and mind, because more provides more choices, which equals more confusion. And you'll never ever have peace of heart and mind just by having more. That's a spiritual perspective, it's not a financial perspective. HOW DO CHRISTIANS FIND CONTENTMENT? Contentment, above any other trait, should really be the hallmark of a mature believer's financial life.Hebrews 13:5 says, "Make sure that your character is free from the love of money, being content with what you have; for He Himself has said, 'I will never desert you, nor will I ever forsake you.'"The starting point for "enough" is defined in this verse—it's what I already have. For years I taught and wrote about the importance of the "How much is enough?" question. One day I realized that God had quantified "enough" in this verse.Enough is what I have. I can be content where I am, with what I have, because contentment is a choice— a decision. Contentment can be learned by becoming more rooted in the reality of God's nearness and provision and by living in the spiritual reality of His promise that "I will never desert you, nor will I ever forsake you."Even the apostle Paul learned contentment along the way, and he shares his insight in Philippians 4: “I have learned to be content in whatever circumstances I am. I know both how to have a little, and I know how to have a lot … I have learned the secret of being content whether well fed or hungry … I am able to do all things through Him who strengthens me.” WHERE TO DRAW THE LINE? There's nothing whatsoever wrong with financial prosperity. But it can become a problem if we're not careful. So where should you draw the line and ensure you're keeping your money in check and that it's not interfering with your relationship with God? Ron Blue says money, “becomes a problem when you pursue prosperity for its own sake, in the mistaken belief that more is always better; that more will make you happier; that more will solve all of your problems. It becomes a problem when we look to our bank accounts and not God as our Provider.”In reality, the more you have, the more choices you have to make, and the less real freedom you have. At some point, all of those choices and options become a burden. You may find yourself working more than when you had fewer choices just to maintain what you've acquired.If you're able to find contentment with what you already have, you're far less likely to be taken in by the Paradox of Prosperity. On today's program, Rob also answers listener questions: Can kids working on a farm for their parents open a 401k account? How do you balance retirement investing and paying down your mortgage sooner? Is paying down debt using a whole life policy a good approach? What are some good options for opening a Roth IRA?  RESOURCES MENTIONED:Sound Mind InvestingFidelity Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.  

IN-NETWORK? We'll start with “in-network” versus “out-of-network” medical costs, which is something consumers really need to be aware of. Healthcare Plans generally cover out-of-network emergency room care as if it were in-network, but not visits to out-of-network doctors and other treatment.That could cost you 4 or 5 times more than in-network care. NO NETWORKWhile Christian Healthcare Ministries helps its members cover their healthcare costs, it is not an insurance company. Members are not bound to a particular network of providers. As long as their treatment is eligible for sharing under the terms of the membership, CHM will “share” the cost. That means, if you're a member, you can go to whatever doctor or hospital you choose and keep your preferred doctor. It provides a lot more options than a traditional healthcare plan.  VERY DIFFERENTCHM is also very different in that it is a Christian ministry, which helps to provide support that is not only financial but also emotional and spiritual. They care about their members and pray for them. And members lift one another up in prayer.  OVERVIEWHere's how it works. If you are a CHM member and share your medical bills, you will send your bills to Christian Healthcare Ministries. CHM will then work with your healthcare providers to see if they can get discounts on those bills, and then they will “share” those bills in accordance with the membership terms and send a check to you, the patient, to cover those bills. Over more than 40 years, CHM has shared nearly $10 billion dollars in medical costs.Learn more about Christian Healthcare Ministries at CHMinistries.org. On today's program, Rob also answers listener questions: What happens if a spouse passes away without a will? If you put money into a trust, is there a way to get it back out if a financial need arises? If you have the option of a traditional 401k or a Roth 401k, which one should you choose? What is the best kind of educational account to open on behalf of grandchildren? What's the best way to close a credit account you're not using?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.  

MONEY ISN'T THE PROBLEMAsk any couple what causes the most stress in their marriage, and they'll probably say “money”.  However, the problem isn't usually money itself – or even lack of money.  No, financial tension in a marriage more often springs from bad attitudes, unrealistic expectations, and wrong assumptions about how to handle money.Part of the problem is that everything has a money angle. Most of our plans, desires, hopes, and dreams involve some kind of financial activity.  That means you're constantly facing emotional questions about how to spend, save, borrow, earn and give your money. And chances are, you and your spouse don't always agree about those things.On top of that, you have personality differences.  Maybe he's a saver, she's a spender, or she loves yard sales, he prefers buying new, or he wants to borrow to buy a car now, while she wants to wait to pay cash.  All this disagreement can stem from childhood experiences, long-standing expectations, or even misunderstandings about how finances really work. Put it all together, and it's a recipe for conflict.If you're married, you surely know what we're talking about!There's another factor at work here, in the matter of money and marriage. As we've said so often, our attitudes and actions relating to money are an indication of what's in our hearts.  Sinful attitudes like greed, selfishness, anger, and resentment can affect how you feel about money, and how you relate to your spouse about the family finances.Let us offer four recommendations that we hope will change the way you relate to your spouse about money.First, remember why God brought you together.  Christian marriage is a testimony to the world of the love of Christ for his church.  It's meant to be a picture of peace and godly unity. Christian marriage is also an opportunity for spiritual growth. Proverbs 27:17 puts it this way: As iron sharpens iron, so one person sharpens another.Being sharpened by your spouse in the area of finances can be uncomfortable, but it's worth the effort to work things out.  That brings up our second recommendation. Communicate. If you're out of sync about money matters in your household, it's time for a heart-to-heart talk about money.In Ephesians 4:2-3, Paul writes, “Be completely humble and gentle; be patient, bearing with one another in love. Make every effort to keep the unity of the Spirit through the bond of peace.” HOW TO COME TOGETHER ON MONEYHere's how you do that: Set aside some uninterrupted time together. Confess your fear, selfishness, and resentment about money to the Lord and to each other. Ask Jesus to be Lord of your financial life. Ask him to help you work towards unity in the area of money management. Commit to love each other in this area, the way you promised to do on your wedding day.Above all, be patient with each other.  These are very personal issues, but your relationship is more important. Make it a point to look for compromises and middle ground.  If you're a spender and your spouse would rather save every penny, create a plan that allows for a bit of both.That brings us to our third recommendation for financial peace in marriage. Make a budget together.  Your spending plan can allow each personality a little leeway – and a plan made now will take the pressure off both of you later when you're making financial decisions.If you've been keeping your finances separate, now is the time to bring them together. Separate finances are a dangerous step towards dis-unity in your marriage.Many couples think separate finances will help them avoid fighting about their differences. But the fact is, this isn't “his money” and “her money”.  It's not even your money together.  It's God's money.We'll close today with a passage on love that's so familiar, from 1 Corinthians.  It's the ultimate answer to financial conflict in marriage.“Love is patient, love is kind. It does not envy, it does not boast, it is not proud. It does not dishonor others, it is not self-seeking, it is not easily angered, it keeps no record of wrongs.” On today's program, Rob also answers listener questions: Is whole life insurance a wise investment for a couple around 30 years of age? If you have a small business, should you be tithing on your business revenue or just your personal income? What is the best approach for someone nearing retirement age without having enough in savings and investment accounts to fund retirement? How do you choose the right 401k option for your needs?What is the likelihood of a recession this year?  RESOURCES MENTIONED:Policy Genius Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach. 

What's Your Relationship Status With God?Most people would say their most important relationship is with their spouse, or children, or perhaps a friend. And they'd be wrong. Those relationships are important— we need them— but they don't carry eternal significance like your relationship with God. Today we'll give you some practical ways to strengthen that relationship. This is a program about money, and you may be wondering what money has to do with our relationship with God. That's a fair question and the answer is … a lot!And the Bible gives us three dots to make that connection.FIRST: God created everything and therefore He owns everything. Colossians 1:16 says, “For by him all things were created, in heaven and on earth, visible and invisible, whether thrones or dominions or rulers or authorities—all things were created through him and for him.”SECOND: God gave us everything we possess. Deuteronomy 10:14 reads, “Behold, to the Lord your God belong heaven and the heaven of heavens, the earth with all that is in it.” So God owns everything, but He's given us resources to use temporarily as his stewards.THIRD: God is not distant and detached. He wants a close relationship with you. James 4:8 tells us, “Draw near to God, and he will draw near to you.”We draw near to God by being obedient and following His law. With over 2,300 verses in Scripture about money and possessions, God has made his desire quite clear. He wants us to manage money according to His principles.Our friend Howard Dayton points out that wisely managing money and the other resources God blesses us with deepens our fellowship with Christ. Having a close relationship with Jesus is another way to describe what the Bible calls “true riches.”In Luke 16:11, Jesus indicates that God uses money as a test. He says, “If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches?”Jesus is saying that how you handle money affects your spiritual life. If you manage it well according to biblical principles, you'll naturally grow closer to Him. If not, your fellowship with Him suffers.So biblical money management is a very practical way to improve your spiritual life, but sometimes things get in the way of that. There are two kinds of disobedience that keep us from handling money God's way and growing closer to Him.The first is passive. It's just laziness. Some people don't want to take the time to organize their finances, make a budget, and track their spending. Doing those things might only take a few hours a month. Still, it's just too much to bother with. As a result, intimacy with God suffers.If you don't have a spending plan, we urge you to download the FaithFi app. It provides three options for setting up a budget quickly and easily and then tracking your spending. So that's the first form of disobedience: passive. Another person has a different obstacle to growing closer to God. It's an active or willful disobedience. For that person, money and possessions compete with Christ.Jesus tells us in no uncertain terms how that will turn out. In Matthew 6:24 He says,  “No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.”Often that person thinks he can surrender every part of his life to Christ except money. He might be good at making money, paying bills on time, saving and investing, but he refuses to give Christ lordship over his finances.Maybe he stumbles over tithing or other giving to God's Kingdom. He has the resources, but just doesn't want to give. Again, his intimacy with Christ suffers.Finally, there's another person who's not following biblical financial principles but thinks her relationship with the Lord is just fine. To her we might say, “What you don't know will hurt you.  What are you missing out on? You might think finances aren't interfering with your relationship with God, but how would you know?If any of these people sound like you, commit your finances to the Lord in earnest prayer and then follow through managing your money and possessions His way!On today's program, Rob also answers listener questions:What is the wisest way for a business owner to use recently received Employee Retention Credit funds?If you're married but the home mortgage is only in one spouse's name, is it a good idea to add the other spouse to the note?How do you determine whether it's best to hire someone to help you manage your retirement funds? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give  as we expand our outreach.

How Big Are Your Barns?In Luke chapter 12, Jesus shared the Parable of the Rich Fool. Jesus' message in that parable is every bit as important for us today as the day it was first told. We'll talk about it today on Faith and Finance. Let's start with the first part of the parable, Luke 12:16-19. That's where Jesus says, “The land of a rich man produced plentifully, and he thought to himself, ‘What shall I do, for I have nowhere to store my crops?'And he said, ‘I will do this: I will tear down my barns and build larger ones, and there I will store all my grain and my goods. And I will say to my soul, “Soul, you have ample goods laid up for many years; relax, eat, drink, be merry.”Now, a lot of people might read that and think, “Hey, that sounds like a solid, practical solution. You've got too much stuff coming in. If your barns aren't big enough, you need bigger barns! What's wrong with that?”Well, the rich man finds out what's wrong in the next two verses. They read, “But God said to him, ‘Fool! This night your soul is required of you, and the things you have prepared, whose will they be?' So is the one who lays up treasure for himself and is not rich toward God.”If that theme sounds familiar to you, there's a good reason. Charles Dickens no doubt borrowed it when he wrote A Christmas Carol. Of course there, Ebeneezer Scrooge takes on the role of the rich fool, obsessed with money and possessions. But unlike the Rich Fool, Ol' Ebeneezer gets a second chance. And so do we.Our second chance starts with understanding what “rich toward God” means. It's an unusual phrase and God's Word doesn't elaborate on it, but we can get an idea of its meaning by contrast. It's the opposite of building bigger barns or laying up earthly treasure for yourself.Being rich toward God is acknowledging that we're made for Him, not for our own pleasure or possessions. Our abundance is in Him, not our bank accounts.“Rich toward God” means counting Him as greater riches than anything on the earth.And it means using earthly riches to show how much we value God. How do we do that? By giving generously to His Kingdom. Had the Rich Fool done that, he might have heard these words from Matthew 25:“Come, you who are blessed by my Father, inherit the kingdom prepared for you from the foundation of the world. For I was hungry and you gave me food, I was thirsty and you gave me drink, I was a stranger and you welcomed me … I was naked and you clothed me, I was sick and you visited me, I was in prison and you came to me … as you did it to one of the least of these my brothers … you did it to me.”But the Rich Fool did none of that. He thought only of himself and when he died, he left his earthly treasure behind.Now, Jesus is not saying that our works save us, but He is saying that not doing the good works we were designed for will hurt our relationship with God. Jesus is teaching that money and possessions are dangerous because they can lure us out of love for God and keep us from treasuring Him.Because of that, some might think that money is bad, but it's not. It's really a powerful tool that can be used for good or bad. While the proper use of money can store up treasure in heaven for you, the improper use of money can be hazardous to your spiritual health as it was in the case of the Rich Fool.The problem wasn't that he became rich, the rich are no less godly than the poor. The problem was that the Rich Fool ceased to view God as his supreme treasure. If God had been his treasure, he might have said:“God, this is all yours. You have made my fields prosper. Show me how to express with my riches that You are my treasure and that riches are not. I already have enough. I don't need more luxury and leisure.Had he said that, the Rich Man wouldn't have been a fool at all. He would have been a very wise man who was rich toward God. He would have discovered that— as Jesus is quoted in Acts 20:35— “It is more blessed to give than to receive.”The Rich Fool learned that the hard way, but we don't have to. We can learn from his mistake and strive to be rich toward God.On today's program, Rob also answers listener questions: If someone else is paying a home mortgage, but the house is in your name, what's the best way to remove yourself from the equation and put the home in their name?When is it appropriate to move away from conservative investments like bonds and invest a little more aggressively? Is it wise to open several new accounts in the name of a trust? What financing options should you consider when buying a business franchise? How do you determine what to do with a 401k established with a company you no longer work for?Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give  as we expand our outreach.

What You'll Need To RetireFolks always ask us, “How much will I need to retire?” And the answer is, “It depends.”  One important piece of the retirement puzzle is, “How much are you willing and able to cut from your budget?” We'll talk about that today on Faith and Finance. Many of the expenses associated with work go away when you retire. Because of this, many experts say you'll generally only need 75-80% of your working income when you retire.The problem is, many studies show the average retirement budget is only about 60% of working income. So if you're working and making, let's say $75,000 a year, you'll need at least 75% of that, or a little over $56,000, in retirement.But if you're on track to generate only 60% of your working budget from Social Security benefits and income from your investments, you'll be short $11,250 a year — or about $940 a month.That means you'll have to work longer to build more savings that generate more retirement income, or continue to work part-time to make up that $940 monthly shortfall. That is unless you're able to cut your retirement expenses enough to close that $940 gap or at least make it smaller. Now, how do you do that?Let's start with the one that's probably the most obvious. It's the big house you raised your family in, but which is now largely empty. Do you really need all that room? Now might be a great time to downsize into something smaller. Besides lowering your maintenance costs, utility bills, and taxes, downsizing should leave you with cash left over that you can convert into an income stream, getting you closer to your retirement needs.As long as you've lived in the home for two out of the last five years, you can exempt the first $250,000 in capital gains on the sale of your home — or $500,000 for married couples.Now, the next biggest way to cut your retirement budget is with transportation. If neither you or your spouse is working, do you really need two vehicles? Could you sell one of those cards and pocket more cash? You would also save on vehicle-related costs. Now, let's look at insurance next, and specifically, disability and life. First off, disability insurance is designed to replace lost income when you're recovering from an injury and illness and not able to work.Obviously, if you're retired and not working, you have no working income to replace and therefore you have no need for disability insurance. Yet some people still carry it. Drop it the day you retire.Now, what about life insurance in retirement? If your children are now grown up and out of the house, they're no longer dependent on your income. So you can cut back on life insurance.Also, look at interest on a credit card balance or other consumer debt. It's never good, but it's downright terrible when you're retired and trying to adjust to a smaller income. Take some of the cash you've freed up with the previous suggestions and pay off your credit cards as quickly as you can.On today's program, Rob also answers listener questions:How do you determine if you should continue making payments on your vehicle or try to somehow get out from under the loan? Is title lock insurance a wise purchase? How do you figure out the right time to retire in light of your household expenses? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give  as we expand our outreach.

“Bible Verses” that Aren't Actually in the BibleWhen you want pithy quotes, check out social media.  When you want words of truth, look to the Bible. But be careful not to get those two mixed up. Some familiar sayings may sound like Bible verses, but they're really not. Today, we'll discuss a few fake Bible verses you've probably heard many times over. Of all the supposed Bible verses that aren't actually in the Bible, here's the most familiar one: “God won't give you more than you can handle.”  Now, this sounds great, especially if you're struggling with financial hardship.  Unfortunately, it's not true.  The fact is, life is always more than we can handle without God. After all, we need His help just to take our next breath!  NO MORE THAN YOU CAN HANDLE? The idea that “God won't give you more than you can handle” is a misreading of 1 Corinthians 10:13, which actually says, “God is faithful, and he will not let you be tempted beyond your ability, but with the temptation, he will also provide the way of escape, that you may be able to endure it.” The good news is God's faithfulness, providing a way so we can endure temptation. That doesn't necessarily mean we get to avoid it altogether. GOD HELPS THOSE …Here's another popular quote.  Maybe you heard your grandma say this when you refused to do your chores, "God helps those who help themselves.” Again, it might seem like something from the Bible, but it's not. In fact, it's the opposite of what God's word says, which is that our help comes from one place. Psalm 121:2 tells us, "My help comes from the LORD, the Maker of heaven and earth.” It's not “God plus me getting the job done.”God's help is never contingent on what you or I do.  In fact, there's nothing we can do even to earn God's help. But, again, the good news from the Bible is that “…God shows his love for us in that while we were still sinners, Christ died for us.” God's help is always available, not because we do our chores, but because He loves us in spite of our brokenness.OPEN A WINDOWHave you ever had a disappointment, and someone told you, “If God closes a door, He'll open a window”? Besides letting the bugs in, one way or another, what is that really saying? That God always resolves your problems immediately? In fact, that's not always the case, is it? Sometimes, God closes a door and we have to wait, with the doors and the windows firmly shut. The Bible does promise that God will keep us headed in the right direction when we're following him with all our hearts.  Psalm 32:8 says: “I will instruct you and teach you in the way you should go; I will counsel you and watch over you.” But the “way you should go” doesn't necessarily mean God will make an escape hatch when you don't seem to be making progress. You'll find that God often does some of His best work as you wait, teaching you to trust Him even more. Psalm 37:7 says, “Be still before the LORD and wait patiently for him; do not fret when men succeed in their ways when they carry out their wicked schemes.”TO THINE OWN SELF …Our next quote is, “To thine own self be true.” That might sound like scripture, but it's really from Shakespeare's play, Hamlet, and as a piece of advice, it's completely unbiblical.  “To thine own self be true,” suggests that all you need for success is to follow your own instincts and desires.  Unfortunately, it's our own instincts and desires that cause us to sin.  Self-reliance is no substitute for reliance on Jesus.  He is the source of truth and the only one we can really rely on.FOLLOW YOUR HEART? That brings us to the next common saying: “Follow your heart”. First of all, here's what Jeremiah 17:9 has to say about our hearts: “The heart is deceitful above all things, and desperately sick; who can understand it?” In light of that truth, following your heart seems like a really bad idea.Biblestudytools.com puts it this way: ‘God gives us passions and desires and uses our lives to prepare us for His purposes—just as He prepared David during his time as a shepherd, soldier, and court musician. But that only works if we completely surrender our lives to His leading.IF GOD BRINGS YOU TO IT …The next “not-in-the-Bible” quote is, “If God brings you to it, he'll lead you through it.” What's true about this is that God never abandons us. Jesus said: “And surely I am with you always, to the very end of the age.” That's Matthew 28:20. But does that mean God will always pull us out of difficult situations?  Not necessarily. He certainly can rescue us from pain, but sometimes he doesn't.  Sometimes he uses trouble to help us rely on him more and ourselves less. bottom line: You can always trust his provision and rest in his peace, even in the middle of hard circumstances.On today's program, Rob also answers listener questions:How do you determine the wisest way to use a cash gift?How do you find out what your money in investment accounts is being spent on? What can you do when a medical bill is billed incorrectly? What's the best way to open an investment account without going online? RESOURCES MENTIONED:Capital One 360 CheckingMarcusRemember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give  as we expand our outreach.

Whole Life StewardshipGenesis 1:28 says, “And God said to them, ‘Be fruitful and multiply and fill the earth and subdue it, and have dominion over the fish of the sea and over the birds of the heavens and over every living thing that moves on the earth.'” That verse presents what's often called the creation or cultural mandate … which, in turn, is the foundation of “whole life stewardship.” We'll talk about those ideas today on Faith and Finance.THE CULTURAL MANDATESo what exactly is the cultural mandate?  It's the very first set of orders given to man in the Garden of Eden, before the Fall. “Be fruitful, multiply, fill the earth and subdue it.”Ironically, the “cultural mandate” found in the Bible is about 180 degrees opposite of what the culture of the world is teaching and preaching today. Some view man as a blight upon the world. They would like man's presence reduced, population limited, and the “carbon footprint” shrunk. To some, this presents a conundrum. What are we to believe? God's Word? Or “experts” who've been warning us about imminent starvation for over 200 years now? Englishman Thomas Malthus first predicted it in 1798.GOD'S OWNERSHIPI think we should consult the Owner on this— and it's not us. The Bible makes clear that as the Creator, God owns everything.1 Corinthians 10:26 teaches, “For the earth is the Lord's, and all it contains.” Hagai 2:8— “‘The silver is Mine and the gold is Mine,' declares the Lord of hosts.”Psalm 50:10 says, “For every beast of the forest is Mine, The cattle on a thousand hills.”And yes, God even owns us. 1 Corinthians 6:19 reads, “Or do you not know that your body is a temple of the Holy Spirit within you, whom you have from God? You are not your own.”Now, even though God owns the world and everything in it, He has given it all to man to act as His stewards, to “fill the earth and subdue it.” We also find in Psalm 115:16, “The heavens are the heavens of the Lord, But the earth He has given to the sons of men.”And in a somewhat narrower context we have Joshua 1:30, “Every place on which the sole of your foot treads, I have given it to you, just as I spoke to Moses.” There God was giving all of Canaan to the Israelites.So, God created everything, including us. He owns everything, including us, and He's told us to subdue and have dominion over the earth, to be His stewards. Now, what exactly does that mean?WHAT IS STEWARDSHIP?This is where the concept of “whole life stewardship” comes in. God didn't tell us to be stewards on weekends only. Our stewardship “hours of operation” are not listed in the cultural mandate. We're to be stewards 24/7.We are to use ALL of the resources He entrusts to us wisely and in a way that glorifies God. As Larry Burkett liked to say, “Every spending decision is a spiritual decision.Finally, God did not tell us to be stewards only with our time and money, but also with our skills, talents, and interests.God created us in His image and he wired each of us in a unique way.Whatever your skills or talents, pray about ways you can begin using those more fully for Kingdom work.God has been incredibly generous with us, and He wants us to share in the joy that comes with being generous. He wants us to be “whole life stewards.” On today's program, Rob also answers listener questions: What are gift annuities and when do they make sense?Are there credit card accounts that accrue rewards that go to charities?Is it wise to use money from your 401K to pay off your mortgage?What is a qualified charitable distribution and how can you make use of it?What is the wisest way to use or invest proceeds from the sale of a home?RESOURCES MENTIONED:Christian community credit unionChristian credit counselorsRemember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give as we expand our outreach. 

PRINCIPLES OF STEWARDSHIPOWNERSHIP: The first principle we must understand about stewardship is ownership. God owns everything.And Scripture is very clear about this. Psalm 24:1 and 2 reads, “The earth is the Lord's and the fullness thereof, the world and those who dwell therein, for he has founded it upon the seas and established it upon the rivers.”And in Deuteronomy 10:14, “Behold, to the Lord your God belong heaven and the heaven of heavens, the earth with all that is in it.”And finally, Psalm 50:10, “For every beast of the forest is mine, the cattle on a thousand hills.”Now that we've established God's ownership, let's look at this from another angle. If God owns everything, that means we own nothing. That's a difficult concept to grasp because we possess a lot of stuff: a house, a car, a bank account, etc.We hold those things, but we don't own them. God owns it all. And we are to use those resources wisely in obedience to the Lord.If we become arrogant about who's done what, it's good to remember that even the skills and abilities we have to acquire wealth belong to God. They're only “on loan,” if you will, and we're to use them to glorify Him, first and foremost, not to enrich ourselves.Deuteronomy 8:17-18 makes this clear. It reads, “Beware lest you say in your heart, ‘My power and the might of my hand have gotten me this wealth.'“You shall remember the Lord your God, for it is he who gives you power to get wealth, that he may confirm His covenant that he swore to your fathers, as it is this day.”So God owns everything. That's the first principle of stewardship.RESPONSIBILITY: The second principle is responsibility. As stewards, we have no rights over what we temporarily possess by the Lord's provision. But we do have a responsibility to use those resources wisely for His purposes.There's nothing wrong with enjoying God's provision, but we must seek the balance between that and using His resources for His purposes.This is defined in 1 Timothy 6:17, which says, “As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy. They are to do good, to be rich in good works, to be generous and ready to share.”One day,  each of us will stand before the Lord to give an account of how we used His resources, just like the servants in the Parable of the Talents.The difference is, we'll be accountable for everything, not just money, but our time and abilities, too. Those are all resources God has given us, so we must use them wisely.How do we know where to draw the line? How to enjoy God's provision without clinging to it and claiming it for our own? That's something each of us must determine in quiet prayer with the Holy Spirit.Romans 8:26 reads, “Likewise the Spirit helps us in our weakness. For we do not know what to pray for as we ought, but the Spirit himself intercedes for us with groanings too deep for words.” Trust Him to tell you if you're enjoying … or squandering … what the Lord has given you.REWARD: The third principle of stewardship is reward. We have reason enough to be good stewards because of what God's already given us, the priceless gift of His Son for our salvation, but He promises even more blessings when we're faithful stewards.Colossians 3 reads, “Whatever you do, work at it with all your heart, as working for the Lord, not for men, since you know that you will receive an inheritance from the Lord as a reward. It is the Lord Christ you are serving.”And of course, Jesus Himself tells us in Matthew 25, the Parable of the Talents, “Well done, good and faithful servant. You have been faithful over a little; I will set you over much. Enter into the joy of your master.”How we manage God's provision will determine whether we hear those words someday. We all want to be declared, “good and faithful stewards.” On today's program, Rob also answers listener questions: What can a young couple do to turn around their finances and credit after making poor borrowing decisions? Would it be wise to shift money from a savings account into a CD?How do you balance paying off your mortgage with investing for retirement?  RESOURCES MENTIONED:Christian Credit CounselorsBankrate.com Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach. 

Year after year, the annual survey taken for the T-I-A-A Institute Personal Finance Index shows low financial literacy for the 18-to-25 age group. A majority of these young adults consistently fail to demonstrate a working knowledge of financial concepts like budgeting, saving, insurance, and investing.Think about what this means.  Tens of thousands of young adults are going off to college or joining the workforce today without knowing how to manage their money, how to avoid overspending, or even how to build a solid financial future for themselves.These days, we have online banking and instant digital transactions.  It's so easy to use credit and transfer money that many young people just live day to day without a plan … until they need a bailout from Mom or Dad!The fact that young adults rarely handle cash also means they no longer have a physical connection to their money.  When you don't actually see and feel your money coming and going, you might not realize when it's gone. This disconnect can lead to unintentional overspending and a lifetime of debt, not to mention a lack of motivation to save for the future.So, if you're a parent of teenagers or a “Gen Z” just starting out, here are a few must-have financial skills and how to get them: MUST-HAVE FINANCIAL SKILLSThe first “skill” is actually an attitude. The Bible says God is the owner of everything, as in Psalm 24:1, “The earth is the Lord's, and everything in it, the world, and all who live in it”. Understand that nothing really belongs to you, even you. You are a manager of God's resources, which should change your perspective on money and material things.The number two financial skill you'll need is planning.  “A dream without a plan is just a wish,” as they say.  And wishes won't buy you a house. The fundamental planning tool we recommend is a budget, otherwise known as a “spending plan”.  A budget keeps track of your income, giving, and spending, and gives you a picture of your progress towards meeting your financial goals.  Download the free FaithFi app to get one started.The next fundamental financial skill everyone needs is: work!  Maybe your dad always told you that “Money Doesn't Grow on trees!” Annoying as that was, it's the truth. So, start at the bottom if you have to, work hard, and develop your resume!In Colossians 3: 23 and 24, we see the key to successful work: “Whatever you do, work at it with all your heart, as working for the Lord, not for men, since you know that you will receive an inheritance from the Lord as a reward.  It is the Lord Christ you are serving.”The next skill is to open and manage a bank account. Then, make sure you develop habits of giving and saving from every paycheck. Watching your balance increase will encourage you to stick to your plan. Keeping track of your bank balance will also help you understand your limits.  You can't spend what isn't there.The next skill will also help you understand your limits. Learn about credit.  Don't fall into the trap of believing that a credit card equals permission to spend all you want. Instead, keep track of your balances, pay your balances in full every month, and watch your credit score.Another basic financial skill you'll need is to understand investing, including types of investments, risk, and return. Check out the great information at SoundMindinvesting.org.Finally, admit you don't know it all and learn where to go for solid financial advice. As it says in Proverbs 15:22: Without counsel plans fail, but with many advisers, they succeed. Visit faithfi.com and click on the “Community” tab to chat online about your money questions.  Or, ask someone you trust, who knows about finances, to help you.Now more than ever, young adults need financial skills to succeed in the “real world”.  Our challenge to our bright and hopeful “Gen Z” generation is to pursue a firm faith and financial literacy.   On today's program, Rob also answers listener questions: Is an annuity a good option for retirement savingHow should someone determine whether to sell the family home after a divorce?How does one go about buying a parent's home that is currently in an irrevocable trust? Is it wise to borrow against your existing home to purchase a vacation home? Is there a way to seek loan forgiveness for a “Parent Plus” loan?  RESOURCES MENTIONED:Zillow.com Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach. 

We often receive questions like this one: “I've cosigned on a car loan for my nephew and he's not making the payments. What can I do?”It's sad because the only reason someone would cosign a loan is to help someone else.  And far too often, it doesn't end well. At least one survey shows that if you cosign, you have a 40% chance of having to pay the loan yourself because the primary signer either can't or won't make the payments.And if that's not bad enough, it's usually a family member or friend who'll leave you holding the bag, damaging your relationship as well your finances.Now, the best way to keep that from happening is to simply not do it. Remember the Ben Franklin quote, “An ounce of prevention is worth a pound of cure?”  He was actually talking about fire safety at the time, but the concept certainly applies to co-signing today, which could “burn down” your finances. The best way to get out of it is to never get into it.By the way, it seems Mr. Franklin actually borrowed that “ounce of prevention” idea from Proverbs 22:30 which reads, “The prudent see danger and take refuge, but the simple keep going and pay the penalty.”The Bible actually has a lot to say specifically about cosigning — and for good reason. Christians are often confused about cosigning. The Bible tells us to care for our family and neighbors and to help those who can't help themselves. Wouldn't that include helping someone get a loan?The Bible says no,  and it leaves no room for misinterpretation. It warns us over and over not to do it.Proverbs 11:15 says not to pledge “surety” for another, meaning don't co-sign a loan for another who doesn't qualify on his own.And Proverbs 17:18 reads, “One who lacks sense gives a pledge and puts up security in the presence of his neighbor.”Then in Proverbs 22:26-27 we find, “Be not one of those who give pledges, who puts up security for debts. If you have nothing with which to pay, why should your bed be taken from under you?”We mentioned that four in 10 people who cosign get stuck paying off the loan. But studies also show that nearly a third suffer damage to their credit, and a quarter say the experience damaged their relationship with the primary signer. Proverbs isn't one of the “Wisdom Books” for nothing.Okay, by now you're convinced never to cosign. But what if you've already done it? What can you do about it?The thing you have to remember is that as a co-signer, you're just as responsible for the loan as the primary signer. If that person can't or won't make the payments, there's no way you can walk away from it without severely damaging your credit. The loan must be satisfied.First, try refinancing. Your legal responsibility to repay the loan goes away if the other person refinances without you. If you or the other person has been making payments for some time, the outstanding balance should now be lower than the original amount. That could allow the primary signer to qualify without you.Next, you can try speeding up the loan payments by offering an incentive to the primary signer. Offer to match any payments he or she makes. You might still end up paying half the loan, but that's better than the whole thing and it will keep the account in good standing.Now, if the loan was for an automobile, you can ask the primary signer to sign the title over to you and you take possession. Then you'll at least have use of the vehicle while you're paying it off. You can also then sell it at some point and recoup part of your loss.Finally, you can try doing a credit “makeover” on the primary signer. Help them get on a budget, teach them the importance of paying bills on time, saving, and being responsible. Eventually, they'll be able to refinance to get you out of the loan. It's an approach that will have long-lasting, beneficial results.Okay, those are some things you can do if you've cosigned a loan and you're stuck making payments. We hope you find them useful. On today's program, Rob also answers listener questions: How long should you wait between opening credit card accounts if you're opening multiple accounts? If you take a loan from your 401k but change your mind, can you return the money without penalty? How do you determine when to begin drawing Social Security benefits? How can someone go about determining the value of collected coins and then reselling those coins? What are the tax implications of the sale of real estate that belonged to a now-deceased parent? Is it unwise to use a credit card under any circumstances whatsoever?  RESOURCES MENTIONED:NGCcoin.comPCGS.com Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.

Mark Biller is executive editor at Sound Mind Investing, where he and his team take complicated investing concepts and simplify TWO EASY QUESTIONS: Those two easy key questions are: “How often should I invest?,” and “How much should I invest?” A simple way to make those decisions is to use a “formula” approach that eliminates inconsistency and guesswork.The best-known formula for answering the how much and how often questions is called “dollar-cost averaging” — or “DCA” for short. The key to dollar cost averaging is simply (1) invest the same amount of money (2) at regular time intervals.That simple framework is easy to follow and it's essentially what millions of people do every month via their 401k or other workplace retirement plans. For example, you might choose to invest “$800 a month” or “$400 per pay period.” The important thing is to pick an amount you can stick with faithfully.And sticking with it faithfully means you have to do this for a long period of time— five years at the very least— so you have time to ride out an extended bear market. The beauty of DCA is that it frees you from worrying about whether you're buying stocks at the “wrong” time. Because your dollar amount remains constant, you'll get more shares for your money when stock prices fall and fewer shares when prices rise. In effect, you'll buy more shares at “bargain prices” and fewer at what might be considered high prices. Of course, you won't know that at the time. It's only obvious when stocks are “on sale” or overpriced when you look back in hindsight. TIME TO GET OUT? With uncertainty surrounding the markets these days, folks often ask us if now is a good time to get out of the market and go to cash or precious metals instead of market-based investing. Sound Mind Investing is one of the increasingly rare firms that still takes defensive measures and shifts money to cash when they think the risk of a particularly severe bear market is high enough. They did that early in 2022 and it helped them last year, although now they've been lagging in 2023 as the market has bounced back. Obviously, they wouldn't do that if they didn't think it was worthwhile over the long term.BUT … if you're trying to do this on your own, you absolutely shouldn't be moving in and out of the market! And that's doubly true if you're doing this on your own and have a long time horizon of 10 years or more. It's just way too hard to get those signals correct.Experts at SMI have studied this for years and watched it like a hawk all day, every day, and even they don't always get it right. There's a reason there are millions of retirees and near-retirees with large 401k balances, despite not knowing much of anything about investing. It's because they invested regularly, every pay period, and let those 401k balances compound year after year, through good markets and bad. EMOTIONAL INVESTMENT DECISIONS ARE DANGEROUSWithout a mechanical system like this, most investors only work up the courage to invest after stock prices have risen sharply. Then, when prices plunge, they become fearful and sell after they're already down. In other words, investor emotions cause them to “buy high and sell low,” which is the exact opposite of what you want to do.Dollar-cost averaging steers you around those pitfalls, as long as you stick with it and keep following the discipline regardless of what the market is doing at the time. IS THERE A DOWNSIDE TO DOLLAR-COST-AVERAGING?DCA is not without its imperfections, and the biggest one is that it doesn't protect you against losses. You will still suffer temporary setbacks from a bear market. And that's largely why this is a LONG-TERM investment strategy. Again, you want a minimum of a 5-year investing time horizon, but preferably, a decade or longer. When you're investing for the long-term, this kind of “set it and forget it” system to accumulate a nest egg is pretty hard to beat. But that calculus changes a bit as a person gets older and has more to lose. And that's why SMI does some other things in terms of bear market protection. INVESTING A LUMP SUMA second criticism of DCA relates specifically to a person who has a lump sum of money to invest. In that case, the math usually shows that investing it all at once is the best approach, rather than dollar cost averaging it into the market over time.But there are two things to understand about that situation:First, most people don't have a lump sum, they're investing bit by bit. So this criticism doesn't even apply to the typical 401k investor.Second, even though the math says put all of the money in the market right away, emotionally, it's way easier for people to divide up a lump sum and invest it in pieces over time. If it comes down to dividing a lump sum into pieces and investing one-sixth of that each month over six months vs. being paralyzed by fear and not investing any of it for six months, the dollar cost averaging approach is the hands-down winner!In the real world, investing smaller amounts over time makes it easier for investors to overcome their fears and continue to put their money at risk even at times of market weakness. That said, it's good to know that the research shows it's better to get the money invested sooner, so you can work toward doing it as quickly as possible. IN SUMMARYDCA is simply systematically investing a fixed amount of money regularly, and because of that, it has these benefits:It eliminates the “Is this a good time to buy?” question. If you're dollar-cost averaging, every month is a good time to invest!It imposes a discipline — a “forced saving” structure that you can think of as making “installment payments” on your future financial security.Dollar-cost-averaging helps you to buy more fund shares when prices are low and fewer when prices are high, so your average price over time is likely to be lower than other methods of buying.Finally, it “automates” your investing, which helps eliminate the chance that you'll forget to invest, or worse, be scared out of investing by current events and news.DCA is tailor-made for 401ks, 403bs or IRAs. In all three cases, you can automate your contributions and really should do that to make this work most effectively.Bottom line, it's a great illustration of Proverbs 21:5, “Steady plodding brings prosperity”.If you'd like to read more on this topic, read the article, “Taking the Guesswork Out of When and How Much to Invest” at SoundMindInvesting.org.  On today's program, Rob also answers listener questions: Is it wise to take advantage of “bonus” rewards offered by credit cards for spending more within a certain period of time? How do you choose the best bank with which to open a savings account? Does it make sense to pay a medical bill off now in cash to take advantage of a discount, even if that puts a strain on your finances overall in the short term?  RESOURCES MENTIONED:BankRate.com Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach. 

Before we get into the specific money wasters, there's a general principle you should be aware of: If you're buying things that provide only a temporary sense of satisfaction, you're probably wasting money. If it's not a necessity and you grow bored with it, it was a waste of money. Check your closets for examples.Now, we're not saying you should take a “vow of poverty.” The Lord wants us to enjoy the resources He's given us. But that must be tempered by the principle that we're merely stewards and we need to use His resources wisely.But, of course, we live in a culture that promotes spending. It's a big problem. One survey showed that the average adult spends around $1,500 a month on non-essentials. No wonder so many Americans are living paycheck to paycheck. Imagine what that kind of money would do if it were put into savings or invested for retirement. 6 MONEY WASTERS1. Not preparing your own meals. The first money waster is one of the biggest, but it's also one of the easiest to fix.. It's okay to eat out occasionally, but too often it's just for convenience. By some estimates, a restaurant-prepared meal will cost you three times what you would pay for the same meal cooked at home.2. Upgrading your smartphone as soon as a new one comes out. For example, the iPhone 14 could cost you as much as $1,600 or lock you into a long contract if your carrier provides it.Eventually, a smartphone will have to be replaced, but the longer you delay the upgrade, the more money you keep in your pocket. This year's red hot phone is next year's discount model.3. Overspending on clothing. Wearing the latest fashion is expensive. By some estimates, the average American spends nearly $2,000 a year on clothing. Clothes do wear out and need to be replaced, so you must include that in your budget, but those spending decisions should be practical.4. Buying lottery tickets. The ads say “You can't win if you don't play,” but that's nonsense. You definitely will win if you don't play. You'll get to keep your money. You have better odds of being hit by lightning twice than winning the lottery.Plus, you don't want to participate in something that disproportionately hurts the poor. A Bankrate report found that low-income households spend as much as 13% of their income on lottery tickets.  That's far more than higher-income earners.5. Extended warranties. Extended warranties are now a $40 billion-a-year industry, and it's really just an expensive form of insurance that you probably won't need.Instead of buying an extended warranty, do your homework to make sure you're buying a quality item to begin with. Most will have an adequate manufacturer's warranty anyway. And then make sure you have enough money in your emergency fund to cover any repairs you might need to make.6. Cable and streaming packages. If you're still paying for cable, it could be as much as $200 a month for Internet and TV. Do you really need 568 channels?More and more folks are dropping cable and satellite TV and using only streaming apps, but even there, you can waste a lot of money.A new survey by FinanceBuzz showed that a quarter of households have at least 3 more streaming apps than they had a year ago, and 1 in 10 reported they have no idea how much they're spending on streaming.So keep track of what you're watching and if you're not getting your money's worth from an app, drop it. That's one great thing about streaming apps — no service contract. You can drop it any time you like.Those are your 6 big-time money wasters. We hope you find this helpful. On today's program, Rob also answers listener questions: Are capital gains taxed differently from regular income? Is title theft insurance a wise thing to buy? Should you ask a wise parent for financial advice or turn to a completely impartial source? If family members stay in the home of a parent with dementia, could that have ramifications for Medicare?  Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give  as we expand our outreach.  

Shaunti Feldhahn is a relationship expert and the author of several very helpful books about marriage, including Thriving in Love and Money.There's a saying about marriage: “When money troubles come in the door, love goes out the window.” But Shaunti has 3 steps for couples to keep that from happening.  3 STEPS TO ERASE TO AVOID FINANCIAL TENSION IN YOUR MARRIAGE1. ENSURE MARGIN: Make sure you have a cushion — some margin in your budget and finances. The Feldhahns conducted a three-year study involving a couple-thousand people. They found that no matter the income level, it wasn't the topline income number that mattered. The key to avoiding tension was to spend less than they took in. This was true across all demographics. You've got to have a cushion to be able to make that car repair or whatever life throws your way. It's great stewardship and helps keep you out of debt and bondage. But as it turns out, it's not just protective of your finances, but of your relationship as well. 2. COMMUNICATE: You have to be able to talk to your spouse about money. It can't just be a one-person thing. It must be BOTH of you, and you have to be able to openly and honestly communicate about money. Communication really is the secret weapon. Most couples have trouble communicating about money. It's a very common problem. But the Feldhahns found in their research that communication even trumps having a financial cushion or having the perfect budget. If you can talk about money, even if the technical stuff isn't perfect, you are far more likely to avoid tension and resentment. So start opening those lines of communication! It's vital! 3. BUILD AWARENESS: You have to understand what's going on underneath the surface and how you and how your spouse respond to money. Shaunti explains that if there is tension around money in your marriage, it's not really about the money. It's about how money makes you feel, and how it makes your spouse feel. It's about all of the insecurities and worries and beliefs about how money should work that are running under the surface. And we have two different sets of those. On today's program, Rob also answers listener questions: What are a couple of good options for online banking?How do you determine whether you should roll over an IRA? RESOURCES MENTIONED:Ally BankCapital One 360 CheckingMarcus Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give  as we expand our outreach. 

Brandon Sieben is President and CEO of Compass—Finances God's Way. According to the Federal Reserve Bank, over the past 20 years, debt levels for those in their 60s have risen by over 400%. And for those in their 70s, that debt grew by over 500%. It's a big problem. The top forms of debt among these age groups are credit cards, car loans, and home equity loans. WHAT'S THE CAUSE? The cause is not any single thing. Rather, it's a combination of factors. First, many times there's a spending problem, meaning retirees are spending like they were before retirement, but now without the income to cover that spending. So they borrow the difference. Second, a lot of folks just aren't aware of the cost of debt and how the math works. For example, these days a credit card could be charging 20% interest, or a home equity loan could be as high as 10 to 12%. And people just really aren't aware of the cost there. And third, a lot of people are conditioned to think that's okay to borrow — no big deal. Many retirees would tell you they've always had a car payment. They're just been conditioned to turn to lenders whenever there's a want or need beyond their current capacity to pay for it. And the next thing you know, they're on the ropes. ADVICE FOR THOSE NEARING OR IN RETIREMENTRemember, God's pretty clear in His Word that we should avoid debt. You can see that in Romans 13 and Proverbs 22. Even Jesus tells us in Matthew six, we can't serve God and money and we've got to choose. But if you find yourself buried under a mountain of debt, the first step is to get on your knees and ask God for help. There's no changing the past, but you can start managing money Biblically today!And when you become debt free, it glorifies God. Practically speaking, we find there's usually $500 to $700 a month that a retiree spends that can be cut pretty quickly. It's not always easy. The cutbacks may include scaling back travel, going out to eat less or not at all, canceling some or all of the home tech like cable, or even cutting out some of those day-to-day creature comforts, like getting manicures, pedicures are the trips to Starbucks. If you're overwhelmed and feel you need help digging out of debt, talk to our friends at Christian Credit Counselors. And then lastly, we encourage you to work to better understand money and how God would have you handle it. You'll find all kinds of free resources at FaithFi.com. Learn more about Compass— Finances God's Way at Compass1.org. On today's program, Rob also answers listener questions: Are there any benefits to a reverse mortgage?How can you make sure you're not overpaying your taxes?How do you determine the best way to invest or use a lump sum of cash?What is the best way for a college student to invest for the future?What can you do to dig out from under credit card debt when it seems like you're just spinning your wheels trying to pay it off? RESOURCES MENTIONED:Schwab Intelligent PortfoliosChristian Credit Counselors Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give  as we expand our outreach.