Podcasts about moneywise media

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Colossians 2:8 warns,See to it that no one takes you captive by philosophy and empty deceit, according to human tradition, according to the elemental spirits of the world, and not according to Christ. Our view of the world shapes our lives, especially how we manage money. We talk about that today with Paul David Tripp. Money problems aren't actually money problems, they'reheartproblems. Money can define how you think about who you really are. Where does your use of money expose your need for a heart change? Beware of taking your money life into your own hands. And how has your money life been shaped by the blessing of knowing that you're one of God's saints? If the rules of a budget could solve your money problems then Jesus would never have had to come. His cross teaches us that something is broken, that understanding must come before solving any money problems. Remember: it's all aboutHisglory, not yours. Don't let money become an idolthis distorts that way we live. We are to live for God's kingdom. The purpose of your money is so that you can be part of God's grand generosity agenda. Giving to others is more important than providing for our own needs. Generosity is actually the good life. Keeping it all and spending it all on ourselves is not the thriving life,givingis. On today's program we also answer a couple of your questions: I'm retiring soon and have $26,000 in a credit union. But I'm thinking there has to be a better place to earn more money. Are online banks better? What is titlelockinsurance? Is this similar to title insurance? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 This year, Americans will spend nearly $6,000 on average for healthcare. Wouldn't it be great if there was a way to share that burden and lower the cost? There is, by joining a medical cost sharing plan with Lauren Gajdek of Christian Healthcare Ministries. Lauren is the Vice President of Communications and Media at Christian Healthcare Ministries, an organization that gives believers an alternative way to meet their health care costs. Whywould someone want to consider CHM? Stability, integrity, and longevity. The company has existed for 40 years. It's here during challenging times to share the cost of healthcare. However, it's also here in community and prayer. There's some biblical significance to the number forty. The span of forty years is mentioned many times in Scripture and generally indicates a period of testing. Christian Healthcare Ministries is grateful to the members who make this all possible. Not only for faithfully sharing one another's medical bills, but also praying for one another, and grateful for those who share how awesome this model is with their friends. Glory goes to them for bearing one another's burdens through some of life's hardest times. The website for Christian Healthcare Ministries isCHMinistries.org On today's program we also answer a XXX of your questions: I'm 44 years old. What's the best way to save money so that my wife and I can retire when we're 65? I know there's only so much money you can put into Roth IRAs, annually. I've always taken out disability insurance and loans and credit cards.However, now that I am disabled, I'm finding that they're not willing to go ahead and honor these claims. What do you think? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email themQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 It's a phone call no one wants to get, a debt collector bugging you about a bill you may not even remember.Hi, I'm Rob West. You may legitimately owe the debt, but maybe not. So, it's important to know your rights. We'll talk about your options and how to deal with debt collectors first today then we'll take your calls at 800-525-7000. In most cases the debts that debt collectors are trying to collect are legitimately owed and they're withintheir right to collect them. And as Christians, we never want to be the guy who dodges his debts. Proverbs 3:27 says,"Do not withhold good from those who deserve it, when it is in your power to act. We should do everything in our power to pay our debts, and not run from our creditors, buttoward them. Don't be afraid to work with them. In many cases, you can work out a payment arrangement with your initial creditor. Many debt collectors are honest folks playing by the rules and just trying to make a living. But you know what they say, it just takes one bad apple to give the barrel a bad reputation. If you are contacted by a debt collector, first, make sure you're the right person and that you actually owe the debt. If you get a call in error, be polite. Calmly explain that you aren't the person they're looking for and you don't owe the debt. But,do not give them any personal financial information like your Social Security number. You can then tell them not to contact you again and that if they do you'll report them. Debt collectors can't call you at all hours of the day or night. They're restricted to the hours of 8 am to 9 pm unless you give thempermission to contact you outside those times. You have the right to tell the collector verbally that you're not allowed to take their calls at work and they should immediately stop trying to contact you there. If they continue to call you at your place of work, again, you can report them. Debt collectors aren't allowed to lie, mislead, or use deception to collect a debt from you. Debt collector can't give false information about you to anyone, including a credit reporting company. And finally, they can't use a fake company name to collect a debt. Romans 13:7 is a good reminder about meeting our obligations.Pay to all what is owed to them: taxes to whom taxes are owed, revenue to whom revenue is owed, respect to whom respect is owed, honor to whom honor is owed. For help paying down your debt contact our friends atChristianCreditCounselors.org. On today's program we also answer a few of your calls: We paid off our home and have been contribution to our IRAs. Our advisor told us to invest in long term care. What is your opinion on this? What are the main reasons why your credit score will drop? I am retired, 71 and am about to pay off my mortgage. I receive social security and have little in savings. What is the best way to handle the money that I do have? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Do you play the lottery? Visit casinos? Probably not if you've read Proverbs 13:11,Wealth gained hastily will dwindle, but whoever gathers little by little will increase it. Even if you've never bought a scratch-off ticket, did you know that you could still be gambling with the resources God has given you? Avoid taking unnecessary risks with your finances. The first way to take that dangerous risk is not being prepared for unexpected emergencies. Also, have a spending plan. This will guide you to live on less than you earn so you can build up an emergency fund. Lack of life insurance, lack of health insurance, lack of disability insurance (if the breadwinner is prevented from working), and lack of long term care insuranceyou don't want to head into your golden years without it. Forewarned is forearmed. Proverbs 24 teaches, By wisdom a house is built, and by understanding it is established; by knowledge the rooms are filled with all precious and pleasant riches. On today's program we also answer a few of your calls: I have the opportunity to either remain in my current working field that pays good benefits or move into another job without benefits that pays $25,000 more. What do you recommend? Should we take out a HELOC loan to pay off our current mortgage loan? We have about 21 years left to pay on that. What do you think about taking on a mortgage against a home that is debt free and invest that money (that our financial person would, in turn, pay that mortgage monthly)? This would apparently make us more money, depending upon what the interest rate is. Is this a great way to invest? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 In Genesis 41 we read,"The seven years of famine began to come, as Joseph had said. There was famine in all lands, but in all the land of Egypt there was bread."So, Joseph planned ahead for difficult times. Figuratively speakingretirement could seem like famine if you're not prepared. We'll talk about how you can avoid that first today then it's on to your calls at 800-525-7000. 1 in 5 Americans has no retirement savings and 1 in 3 has less than 5-thousand dollars. For those who do, a slight financial hiccup and they stop saving. Investing for retirement takes discipline, patience and time for compound earnings to grow. Saving up a nest egg isn't complicated. Just live on less than you make, invest the rest for a very long time, and 30 or 40 years later, you're there. Can you jumpstart retirement savings? Yes, you can - here's a list of things to help you maximize the time left. Save automatically.Have the contribution to your retirement plan taken out of your check before you ever see it. Keep saving or Pay Yourself First. You learn to view your savings as just another monthly bill, but with the same importance as your mortgage or car payment. You make that payment to yourself no matter what. You need this to prevent tampering with your automatic savings. Stop giving Uncle Sam an interest free loan every year. The average tax refund this year is almost 3-thousand dollars.That money should have gone into your retirement account, not the U.S. Treasury. Make a commitment to put at least half of any raise or other new money you receive into your retirement account. Use the snowball method to pay off your debt. Start paying extra on your smallest debt to get rid of it first. Then take that freed up money and put it on the next highest debt. Then you'll have even more money to put on the next highest, and so on. Work overtime or take on a second job, do it. That actually hastwo advantages. It gives you extra cash for retirement, and it gives you less time to spend money at the mall. On today's program we also answer a few of your calls: I am a freshman in high school and have $100 to invest. Where should I start? One of my friends is trying to do a loan re-modification. He has a past bankruptcy, but his credit score is good. Do you think this is still affecting him? My husband passed 10 years ago. I have IRA beneficiary accounts. I am very cautious. I have about 35K in a mutual fund and am looking to get a new car. Should I take money out of my IRA or just get an auto loan? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 1 John 5:19 reads,We know that we are from God, and the whole world lies in the power of the evil one. It's a scary thought, especially if you have children, as the world tries to lead them astray, often with money. Art Rainer joins us today to talk about 7 money lies teenagers are believing these days and to arm you with the truth. Art Rainer is a financial author and teacher, and vice president of The College at Southeastern in Wake Forest, North Carolina. Then it's your calls at 800-525-7000. Teenagers are being bombarded with lies about money. The world is consistently pouring into them its money principles, and they are accepted without very little questioning. Little do they know that what's shaping their money mind is often toxic. Money Lie #1 is that the Bible doesn't really speak to money.Money can't be compartmentalized. How you think about and manage money will affect most areas of your life. Money Lie #2 is that money will make you happy.When you see images and videos of people that appear to have a lot of money, they always seem happy. Because of this, you can start to believe that more money leads to greater happiness. Money Lie #3 is that what the media portrays as wealth isreal monetary wealth. Money lie #4 told to teenagers is that their money decisions don't really matter right now. But, the decisions you make and the habits you make now can have a significant impact on your financial future. Money Lie #5 is that everything will eventually work itself out. Many teenagers think that their financial life will magically take care of itself. Poor spending habits and debt will catch up with you. A lack of savings will catch up with you. Talk to adults, they will tell you. Youwill be responsible for the result of your money decisions. Money Lie #6 told to teenagers is that they don't need to know much about money. Money Lie, #7 is the little bit of money I can give will not make a difference. Money lies are everywhere. Don't fall for them. They can lead you down a path of spiritual and financial ruin. Learn about and follow God's design for money. Seek his truth about money and you will find that for which you are truly looking. On today's program we also answer a listener question: I inherited about 300K. I put most of it in a mutual fund but have about 100K left. What should I do with this money? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Losing your car keys is frustrating, but losing an insurance policy or an inheritance can be financially devastating. We all lose stuff, and most of the time it's things like a wallet, eyeglasses or the TV remote. But would you believe that each year, assets totaling millions of dollars go missing? Life insurance policies: they're lost more often than you think. Survivors may not be aware that a policy exists. Paperwork can be lost. If you don't have an efficient filing system, insurance papers can easily be accidentally thrown out. There are other sources of unclaimed funds: pension plans, 401(k)s, bank accounts, IRS refunds, and savings bonds. There might be uncashed checks, CDs, trust funds, utility deposits, stocks and bonds, wages and even the contents of safe deposit boxes. Get help with the NAIC'sLife Insurance Policy Locator Service. Find out more about the service in thispress release. Getcontact informationfor state insurance commissioners. MissingMoney.com, sponsored by the National Association of Unclaimed Property Administrators, helps you search for unclaimed money in your name. If your state doesn't participate inMissingMoney.com, visitUnclaimed.org. Find unclaimed money from the federal government and other sourceshere. On today's program we also answer a few of your questions: Eighteen years ago, my mom put money into annuities and said that she now wants to give it my brother and me. She wants us to use it now and to take care of it. But we don't know what to do! I'd heard that Social Security is running out! Is that true and if so, what should I do? I have about $10,000 in savings and in investments. Also, I have good credit. Would it be wise to start looking at buying a house over the next year or do you think I should just keep saving and try to have more of a down payment? Regarding my budget, how do you know when a vehicle's maintenance is nickel and diming you to death? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Philippians 4:6 is an open invitation to talk to God. It reads,Do not be anxious about anything, but in everything by prayer and supplication with thanksgiving let your requests be made known to God. Of course, there are conditions. We must pray as the Bible teaches, especially about money. God isn't an ATM machine. I John 5:14 says,This is the confidence we have in approaching God: that if we ask anythingaccording to his will, he hears us. First, you can ask God for anything. Second, he will hear your prayer if it's according to His will. God promises to meet your needs, not necessarily your wants and desires. If you feel that a prayer has gone unanswered, you could be mistaking a need for a want. 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. 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. 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. 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. Present yourself and your need with humility to your church leaders. God hasn't 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 we also answer a few of your questions: I'll be 63 soon and am thinking about retiring. However, if I start taking Social Security now I know it'd be the bare minimum. So should I retire sooner and get a part-time job to supplement my income or do something else? There's a required minimum distribution to take out of a retirement accumulation account I have. I understand that I can take out the whole amount and give it to charity. Am I required to give to only one charity or can it be several? I'm remember in scripture how the widow who gave only two mites gave more than the rest who gave out of their abundance. Is my giving supposed to hurt? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 In Luke 21, Jesus says, Truly, I tell you, this poor widow has put in more than all of them. For they all contributed out of their abundance, but she out of her poverty put in all she had to live on. The story of the widow's mite is a greater reminder of how God views Giving. But how should we view it? Howard Dayton is here today to help us with that. Then it's on to your calls and questions at 800-525-7000. Howard Dayton is the founder of Compass Finances God's Way, and author of several books on God's financial principles. Howard tells about a part of his testimony where he dove into what God's word says about generosity and how it affected his giving. God evaluates our actions on the basis of our attitudes. John 3:16 reveals his attitude toward giving: For God so loved the world, that he gave his only begotten Son. Note the sequence. Because God loved, he gave. Because God is love, he is also a giver. He set the example of generosity motivated by love. An attitude of love in giving is crucial: 1 Corinthians 13:3 says, If I give all my possessions to feed the poorbut do not have love, it profits me nothing. Scripture shows us in several places that to God, attitude counts a lot more than amount.In Matthew 23, Jesus rebuked the Pharisees for tithing legalistically. He says, Woe to you, you have neglected the more important matters of the lawjustice, mercy and faithfulness. Numbers 18:24: The tithe of the sons of Israel they offer as an offering to the Lord. If giving is merely to a church, a ministry, or a needy person, it is only charity; giving to the Lord is always an act of worship, expressing love and gratitude to our Creator, Savior, and faithful Provider. In addition to giving with love, we are to give cheerfully. 2 Corinthians 9:7 teaches, Each one must do just as he has purposed in his heart, not grudgingly or under compulsion, for God loves a cheerful giver. The key to cheerful giving is to yield ourselves to Christ, and ask him to direct how much he wants us to give. That places us in a position to experience the advantages of giving with the proper attitude. There are three key areas and the first is an increase in intimacy. Above all else, giving directs our heart to Christ. The second benefit is an increase in character.The third benefit to giving God's way is an increase in heaven itself. Howard Dayton's been our guest today. You can find out more about Howard and His ministry at Compass1.org. On today's program we also answer your calls: I have a small 401K account. It lost about 3K since last year. What can I do with this? I am in the process of building my credit. I had some people tell me to increase my credit limit, but I don't use enough of the credit limit I have, then I was told I use too much. What should I do? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Financial author Doug Kass once said,When everyone thinks central bankers, money managers, politicians or any other group are the smartest guys in the room, you're in a bubble. That's an interesting quote coming from a hedge fund manager. Are stocks overvalued? Maybe, maybe not. We'll talk about that with investing expert Mark Biller and how you should plan either way. Mark's the executive editor of Sound Mind Investing where they've been teaching investors how to weather market ups and downs for decades. By traditional measures that interpret stock prices through the lens of corporate earning, stocks are clearly expensive. However, we're in the middle of a prolonged monetary policy experiment that started way back in 2009 after that financial crisis which has never stopped. There's the normal risk of being invested and seeing asset prices fall. But there's also the new risk that currency debasement keeps pushing up asset prices. The policies driving these outcomes have terrible implications for those who don't own assets. The number one way to fight panic is by preparing in advance. Second, a written investing plan can be a lifesaver in times of market panic. Staying calm is so much easier if you can read your own clear-headed thinking about what you're going to do in the exact scenario you're currently in. Third, make sure your portfolio is suited to both your age and your tolerance for investing risk. Finally, pray. Remembering what God said about His care and concern for us can help us remain calm and confident, regardless of the immediate circumstances. Isaiah 26:3 says of God, You will keep in perfect peace all who trust in you, all whose thoughts are fixed on you! Read the article we discussed today, How to Panic-Proof Your Investing, atSoundMindInvesting.com. On today's program we also answer a couple of your questions: I'd gotten a mortgage through the FHA, I've refinanced once, but wasn't sure if it was a good idea to refinance again. Regardless, how do I get rid of my PMI? I've purchased houses and land. Now I'm selling. How do I figure out capital gains? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Isaiah 42:13 reads, I, the Lord your God, hold your right hand it is I who say to you, Fear not, I am the one who helps you. Good to know especially for managing money. When we pray and act in God's will, He'll give us our heart's desire. So, let me ask is your heart up to a financial challenge? We'll talk about that first today then it's on to your calls at 800-525-7000. Download the free MoneyWise app to set up a spending plan. Then start saving. Set a preliminary goal of 15-hundred dollars. When you reach that mark, keep going. This savings account becomes fully funded when you have at least 3 months living expenses in it. If you need help, contact one of our volunteer coaches at MoneyWise.org. They can help you learn to live on less than you make which is a critical step for achieving financial security. It is important to challenge yourself in your finances. One place to start is a complete moratorium on shopping. Decide on a period of time, and commit to not spend a dime on anything but the absolute essentials. You'll gain insight on your spending habits and probably realize you're spending too much on things you don't really need. Another challenge is to sell some things. Sell items that are no longer needed or wanted that are clogging up your closets and basement. The next financial challenge also gets rid of stuff, but specificallyclothing. You probably have more than you need and some of it you never wear anymore. Set a goal to unload 25-percent of your clothing. To sell clothes online, check outPoshmarkthredUPandebay. Another challenge is to try to make at least one extra mortgage payment each year. If you do that with a 30-year, $200,000 mortgage at 3% you'll save more than $13,000 in interest and shorten your payments by three and a half years. If you haven't made a commitment to be a regular percentage giver to your church now's the time to take that step. Malachi 3:10 reads, Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this, says the Lord Almighty, and see if I will not throw open the floodgates of heaven and pour out so much blessing that there will not be room enough to store it. Start investing for retirement if you haven't already.Start putting as much as you can into a qualified retirement account like a 401k or an IRA. The sooner you start the more time you give those assets to making compounding gains. On today's program we also answer your calls: My husband is interested in refinancing our home by paying off our vehicles. We owe about 148K in mortgage and adding on an additional 70K. What are your thoughts? I am 89 years old and have had to take an IRA withdrawal every year for the past 15 years. I heard about giving to a charitable organization from my IRA. They took out taxes on this and the church got shorted. What should I do? My wife and I were about to pay off our mortgage, but my mother in law unexpectedly passed and left us part of her home. Should I pay off my home or buy out the other part of my mother in law's home? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 It's difficult to say what the most regrettable financial decision might be. Buying a timeshare comes to mind but high on the list is co-signing a loan for someone else. Getting stuck paying off a loan is bad enough, but worse, it's often for a close relative or friend. We'll talk about that today with some options for folks whohavecosigned. The best advice about cosigning is to never do it. One of Ben Franklin's famous quotes is, An ounce of prevention is worth a pound of cure. He wasn't referring to cosigning at the time, but the general principle applies. The Bible also is specific about cosigning and for good reason. Christians are often confused about it. Proverbs 11:15 says not to pledge surety for another. That's another way of saying don't co-sign a loan for another who doesn't qualify on his or her own. Also, Proverbs 17:18 says, One who lacks sense gives a pledge and puts up security in the presence of his neighbor. Proverbs also says in 22:26-27, 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? The danger of cosigning is the same today as it was 2,500 years ago. One study showed that only 4 out of 10 people who co-sign end up paying off the loan. Nearly a third suffer damage to their credit. Try refinancing. Your legal responsibility to repay the loan goes away if the other person refinances without you. 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 getting stuck with the whole loan. Try doing a credit makeover on the primary signer. Help that person understand the importance of improving their own credit score, paying their bills on time and paying off old debts. On today's program we also answer a few of your questions: My mother has an annuity. She has an amount of money that she'd like to do something with. I have 6 siblings that this will be split among whenshepasses. She can leave it with the company it's currently with at a 1% rate or she can take a lump sum and pay taxes on just the gains. We were advised to speak with a financial planner because there are other, better options. What is your take on tax liens? My college-age daughter wants to start long-term investing and is wanting to get the best interest, long term. She'd like to open an IRA. But what's the best option for her age? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Isaiah 55 proclaims,My thoughts are not your thoughts, neither are your ways my ways, declares the Lord. With our finite minds, we can never fully understand God's. But can we gain some understanding of His view of things like investing? We'll talk about that with Jason Myhre, today. Jason Myhre is with Eventide, an underwriter of this program. He's a founding member of Eventide and spends a great deal of time encouraging folks like us to be a part of God's plan with our investments. How can we see investing as a part of God's plan? Our task as believers is to see all of life through God's eyes, including investing. Unless we see the whole world the way God sees the world, every decision we make will be flawed. The book of Genesis provides us with a vision for business and investing today. In Genesis 2:15, God gives humanity the gift of work. God's plan from the very beginning was for humanity to participate in his work of creation. All our labors are meant to add up to this: to develop and cherish God's good creation in ways that meet human needs and bring glory and honor to him. Both business and investing are meant by God to provide for the needs of the world and to bring glory and honor to him. Humanity, through business, is meant to image God's attribute of provision for the world by creating the goods and services that the world needs to flourish. That's its true calling. Profit is necessary, but secondary. Humanity through investing is meant to resource business with the capital it needs to accomplish the work of provision for the world. Investing's financial returns are good, but again they are secondary. However, sin means that not every investing decision can be made. There are, sadly, many investing decisions where we should say no. The fall means that humanity can now use our God-given creativity in business to create things that harm our neighbor and bring dishonor to God. Great care must be taken with each investing decision. We need always to be asking, is this investing decision going to enhance the beauty and provision of the garden God made or is this investing decision going to diminish it? The value of faith-based investing is that it offers us a way to intentionally invest in companies whose products and practices are enlarging the beauty and provision of God's good creation. On today's program we also answer your questions: I want a new car with upgraded features. My car dealership is encouraging me to roll the remaining balance of my current vehiclealmost paid forinto a new, current-model one. What are your thoughts on doing this? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Do you have piles of paper on your desk at home? Never sure which receipts, statements and documents to save and which to shred? You're not alone. Even the best household money managers struggle with paper clutter. But if you're ready to dig your way out and slay those piles of paper, we'll share a simple way to do it. Romans 13:7 says, Pay to all what is owed to them: taxes to whom taxes are owed, revenue to whom revenue is owed. It's pretty hard to do that if you don't have some kind of record keeping system in place and you're not sure what papers you need to keep and for how long. You can toss at least half of everything that ends up in your mailbox! However, you should never just toss unwanted mail directly into your recycling bin or trash can. It could contain unwanted credit offers that identity thieves could use to open accounts in your name. Get a shredder.You want one that makes cross-cuts. In one pass, it will cut paper into strips and then cross-chop those strips into tiny pieces. You can even take it a step further and get a micro-cut shredder. It does the same thing, but the cross-cuts are really, really small. Set up a 3-drawer system. This is based on how long you need to hang onto things. Anything that doesn't go in one of the three drawers goes straight into the shredder. In your first drawer go documents you need to keep permanently, things like your birth certificate, passport, car titles, property deeds, marriage certificates and your Social Security card. In drawer #2 go giving unto Caesar things. Keep anything you need to fill out your 1040 including supporting forms like W2s and 1099sdefinitely anything where the IRS was also mailed a copy. In the last drawer goes all the material you need to keep for just one yearthings like utility bills, bank statements, pay stubs, and bills. After that you can feed them into your shredder. On today's program we also answer some of your calls: Should we pay off our mortgage with our income or put the extra cash into retirement? As a giver to ministries, I've not been itemizing things on my tax returns. Is there any advantage for me to go with the required minimum distribution procedure? What steps do I need to take to get my bank to transfer my regular IRA into a Roth? And is that a good idea? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Proverbs 10 makes clear the wisdom of saving money A slack hand causes poverty, but the hand of the diligent makes rich. He who gathers in summer is a prudent son.Saving in general is certainly prudent, but today we want to talk about a special category of saving that you may want to consider. It could give you an extra measure of peace as you face life's financial challenges. Then it's your calls at 800-525-7000. How do you define an emergency for your emergency fund? A real emergency will fall into one of three areas, housing, food and transportation. It must be absolutely necessary, urgent and truly unexpected. Everything else should be part of your regular budget. Living expenses if you lose your job or have a severe pay cut, unplanned medical expenses, and unexpected home repairs. Most home repairs are predictable. They're not really unexpected, and for these, you may want to consider setting up a separate category for home repairs, separate from your emergency fund. Most people understand that a home generally appreciates in value, especially these days. But consumer expert Clark Howard points out that in many cases, it's the land a house is built on that actually appreciates. You can't really separate a house from the land it sits on, but you might find that the structure itself depreciates as it becomes run down and in need of repairs. That means your house needs constant, expected maintenance to uphold it's part of total home value. That's a strong argument for keeping your home repair fund separate from your true emergency fund. How much should we keep in my home repair category? A good starting point might be one month's mortgage payment, possibly going up to two months. That would take most of the sting out of completely predictable home repairs and the money will be there in your separate home repair fund. On today's program we also answer you're a few of your calls: Is it wise to get a loan against my car to pay off bills? What is your opinion on reverse mortgage for a single retired woman? I have a mutual fund in my IRA. I would like to sell it and get into some Christian backed mutual funds. Advice? I just sold a business and now have 100K to invest. Where should I begin? We have paid on our home for 12 years and would like to refinance to lower our interest rate. We are only looking to stay a couple more years. What should we do? I sold a property and have about 100K. I also have 100K in student loans. Should I wipe out my loans or invest the 100K into real estate? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 2 Corinthians 9:6 reads,The one who sows sparingly will also reap sparingly, and the one who sows generously will also reap generously.For over a century, Americans who itemize their taxes have been able to deduct their charitable giving. But a new study has revealed a problem with one form of that giving. Should you shy away from setting up a donor-advised fund and not take advantage of the tax benefits they offer? Not at all. If you itemize deductions on your federal income tax form, a donor-advised fund is still one of the best ways you can maximize your giving to your church or other ministries. The best way to do that is by setting one up with the National Christian Foundation or NCF. Their version is called a Giving Fund. NCF takes great pains to quickly get money to ministries. It's one of the largest US charities and the largest Christian grant-maker in the world. Over 30,000 families have used their Giving Funds to send more than $13 billion to 63,000 ministries, churches, and other charities. Unlike other entities that manage donor-advised funds, NCF's mission is to mobilize resources. They don't try to accumulate assets under management, but rather to inspire givers to direct their NCF giving funds to charities and causes that need it most. NCF is an industry leader in the amount of funds granted each year which means more money is available for immediate impact. Get more information atNCFGiving.com. Acts 20:35 sums up the work at NCF:In all things I have shown you that by working hard in this way we must help the weak and remember the words of the Lord Jesus, how he himself said, It is more blessed to give than to receive.' On today's program we also answer your questions: My husband and I have lost faith in our financial advisor. What advice do you have about switching advisorsmoving our portfolio from one advisor to the next? What should we take to the advisor? What do you think about timing the market? What are the top 3 companies you'd recommend to get a good credit card in terms of no annual fee, good interest rate, and getting money back? Is there any reason we shouldn't enter into a non-QM mortgage? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Economist Thomas Sowell said this about inflation, It is a way to take people's wealth from them without having to openly raise taxes. Inflation is the most universal tax of all.As inflation creeps up, people are understandably concerned about how it will affect their budgets and investments. We'll talk about that first today with our own economist, Jerry Bowyer. Then it's on to your calls and questions at 800-525-7000. Jerry Bowyer is the financial editor at Townhall.com, a frequent guest on the Fox Business Channel, and author ofThe Maker Versus the Takers: What Jesus Really Said About Social Justice and Economics. We recently received an email from listener Kurt in Colorado. Kurt was asking to have adiscussion about how the Federal Reserve "prints money" that it pours into the economy and whether this leads to inflation. He also wanted to know if there are good investments that protect against inflation Jerry Bowyer tackles the first part of the question by talking about The Bureau of Engraving and Printing and how they actually print money. He also describes the Fed's policy of expanding the money supply since the onset of the pandemic. Jerry also answers the question about when the Fed increases the supply of money does that automatically cause inflation, more dollars chasing goods, so prices rise? Our listener, Kurt, also had a question regarding the trillion dollar spending bills that Congress has been passing since the pandemic, greatly increasing the national debt. Jerry speaks about how significant this deficit spending is in a historical sense? Economist Jerry Bowyer's been our guest today. You can read his insightful articles at TownHall.com. On today's program we also answer your calls: My husband and I started a remodel on our home and then I ended up having some medical problems, so we had to wait on our remodel. We are now back to remodeling. We have been told to get a construction loan or a HELOC. What is your advice? I am 80K in credit card debt. I would like to change my ways. Where should I start? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Folks are always asking us, How much will I need to retire? And of course, the answer is, It depends. It depends on your needs, lifestyle and one more important factor. That other important piece of the retirement puzzle is, How much are you willing and able to cut from your budget? We'll talk about that first today then we'll take your calls and questions on any financial topic at 800-525-7000. Experts will tell you that you'll need at least 70% of your working income when you retire. Your transportation, clothing and dining out expenses will drop considerably when you're no longer working. Studies show the average retirement budget is only about 60% of working income. So, if you're working and making $50,000 a year you'll need 70% or $35,000 in retirement. But if you're on track to generate only 60% of your working budget from Social Security and income generated by your investments you'll be $5000 a year, short of your estimated living expenses. This all means that you'll have to work longer to generate more savings unless you're able to cut your retirement expenses enough to close that gap or at least make it smaller. One major way to do that is to downsize in your home. Downsizing should leave you with cash left over that you can convert into an income stream. The next biggest way to cut your retirement budget is with transportation. If neither your or your spouse is working, do you really need two vehicles? Another thing to consider is insurance,specifically, disability and life insurance. You may not need the same policies that you have been carrying. Also, look at interest on a credit card balance or other consumer debt. It's never good, but it is a lot worse when you're retired and trying to adjust to a smaller income. Finally, carefully go through your monthly bills to see what else you can cut. One thing you may have plenty of in retirement is time, so consider giving more of it to your church or favorite ministry. Christians shouldn't retire from something, but to something. Here are a few of questions we answered from our callers on today's program: ●My wife and I bought a new vehicle a couple years ago. We financed 12K on it. I was under the assumptions that we could pay off the vehicle early and not pay the interest, but apparently, I was wrong. Can you explain this? ●I am 43 years old and am trying to think of the best ways to invest. Advice? ●My kids are encouraging us to invest in the stock market. Can you offer some wisdom on this subject? ●My husband just retired from the air force. We are trying to make sure that we have a good looking portfolio for retirement. Can you advise us on this? Ask your questions at (800) 525-7000 or email them toQuestions@MoneyWise.org. Remember, you can call or email us 24/7.Visit us online at MoneyWise.org where you can listen to past programs, connect with a MoneyWise Coach, and download free resources like the MoneyWise app. Like and Follow us on Facebook at MoneyWise Media to join the latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 The web portal Excite once turned down an offer to buy Google for a million dollars. Today, Google is worth $420 billion. When it comes to financial mistakes, that was a biggie. We all make the occasional misstep with our money. Maybe not on such an epic scale, but they can be painful nonetheless. Today we'll give you atop 10 of personal finance mistakes to avoid. Borrowing from your 401(k). It's tempting because it's your money. However, often this is just to fix an earlier mistake, like going into debt. It's a bad idea because you'll likely reduce or suspend new contributions during the period you're repaying the loan. Claiming Social Security early. If you take benefits at 62 instead of waiting until your full retirement age of 66 or 67, you'll permanently reduce your benefit by as much as 32%. Paying the minimum on credit cards. If you have a $5,000balance on a card with a fixed rate of 12.5% making only the minimum payments, it'll take 10 years and $1,700 in interest to eliminate that debt. Putting off saving for retirement. You need time to take full advantage of the power of compounding earnings. If you start in your 20s saving 10 to 15%, you'll be well prepared for when you stop working. Bankrolling your kids. You may want to give your children the best college education or wedding, but not at the expense of your own retirement savings. Not getting professional, financial advice. Many people could have used the services of a trusted advisor when the pandemic hit and stocks plummeted. Folks panicked and sold stocks low. Cosigning a loan. The Bible explicitly tells us never to do it. Proverbs 17:18 warns, One who lacks sense gives a pledge and puts up security in the presence of his neighbor.And neighbor includes friends, family, or anyone else. By some estimates, 40% of cosigners get stuck paying off the loan. Quitting school. Though some people make a lot of money without college, some college grads barely make enough to pay their student loans. But that's not the norm. In general, the more schooling you have, the more money you make. Buying a timeshare. In the vast majority of cases, people really regret this one. Falling for a scam. Con artists can play on your fear or greed to bilk you out of thousands of dollars. TheFTCsays Americans are scammed out of nearly a billion dollars a year. On today's program we also answer a XXX of your questions: I'm approaching retirement age. Is it best to keep up with our Roth IRA that we have now, continue putting money into it, but just disregard the simple IRA and just let it sit there? Or, should we continue to put money into the simple IRA as well as into the Roth? What's your opinion on doing a reverse mortgage, using it to purchase additional property? I need to temporarily rent an apartment in another state where my daughter is having her first baby. However, instead of an apartment, what are your thoughts about doing an Airbnb or even a vacation rental? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 If you're tired of worrying about money and living paycheck-to-paycheck, you can decide now to put God's financial principles into practice. You can change your life! They say that insanity is doing the same thing over and over and expecting different results. Nowhere is that more true than with money. The first step in making financial changes is admitting you have a problem and identifying what you're doing wrong. Isaiah 43 tells us, Remember not the former things, nor consider the things of old. I am doing a new thingI will make a way in the wilderness and rivers in the desert. How do you begin to bring about a positive change?ispel the notion that God's Word doesn't contain everything you need to transform the way you handle money. Hebrews 4:12 reads For the word of God is living and active, sharper than any two-edged sword, piercing to the division of soul and of spirit, of joints and of marrow, and discerning the thoughts and intentions of the heart. In Psalm 24:1 we find,The earth is the Lord's, and all it contains, the world, and those who live in it.When you fully embrace that principle, everything else can fall into place. God will not abandon you to fend for yourself. He is always with you and He's promised to provide. Luke 12:24 reads, Consider the ravens: they neither sow nor reap. They have neither storehouse nor barn, yet God feeds them. Of how much more value are you than the birds? Once you realize that God will provide, Scripture will be your guide for changing the way you think and act concerning money. Ask God for strength, discipline and desire to carry this out. Maybe that's setting aside a few dollars out of your paycheck or paying more than the minimum on your credit card. Or maybe it's putting a little more in the collection plate. Pick one and stick with it. If you're not living on a budget, you need to develop a spending plan now. Luke 14:28 teaches, For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it? On today's program we also answer your calls: I've got lots of debt! I've heard about the snowball method of getting debt free. What more can you tell me about this? In light of where the Dow is, is now a poor time to get my money out of CDs and put it into the stock mutual funds or should I wait until the stock market drops to do this? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 In Luke 16:11, Jesus says, If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches?Faith-based investing continues to grow rapidly as Christians acquire new tools to put their money where their values are in ways that glorify God. We'll talk about that first today with Robert Netzly of Inspire Investing.Robert's the CEO of Inspire Investing, an underwriter of Money Wise.Then it's on to your calls at 800-525-7000. We receive calls all the time from folk who want to align their investing with biblical values, they're just not sure how to do it. They may not be familiar with the screening tools you've had in place for a time Robert explains about Inspire Insight He then highlights the new screening data and categories available to biblically responsible investors through the screening tool inspireinsight.com. Robert then explains what trends he is seeing in the faith based investing space. Which issues are on the rise? Which issues are in decline? And the number of first-time violators. Screening tools allow you to weed out companies that aren't honoring God with their policies or products, but there's another, Christians can take which is corporate engagement.Robert gives his definition of corporate engagement. Inspire Investing is announcing their 2021 Faith-based ESG Investor Campaign where they will focus their efforts on companies that came out in public support of the Equality Act over the past year. They will focus on educating the companies about the Equality Act's disastrous implications for religious people, including their own religious employees, and also women and girls sports with erosion of Title IX. Working to have companies sign a statement to endorse amending or replacing the Equality Act to protect religious freedom They are planning to publicize that list of companies on a specially designed website and publication in major newspapers to raise awareness You can sign up for a free account atinspireinsight.com and you will be notified with updates and given opportunities to lend their voice to our shareholder engagement efforts On today's program we also answer a couple listener questions: I have credit card debt and a couple loans that I would like to pay off. Does it make sense to get a credit card and pay off everything together? I want to try to start investing. Where should I start? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 What's worse than paying fees that cost you a dollar here or two dollars there or more? It's constantly shelling out that money and getting nothing for it. It takes discipline and vigilance to spot and eliminate fees for things you no longer need or perhaps never did. Tracking your spending in your bank and credit accounts is the best way to spot useless fees. If you don't keep up with it, you're probably wasting more money than you realize. Many useless fees are quite obvious, however, starting with credit card interest, which now averages around 16%. Some store credit cards may go as high as 30%! Another useless fee is the one you pay at out-of-network ATMs. The average is now nearly $5. That's a lot to pay for a little convenience. Next, you should never pay for a credit report. You're entitled to a free report every year from each of the three credit bureaus, Experian, TransUnion and Equifax. You can get them atAnnualCreditReport.com. Late payment fees. These not only cost you extra money now, but also can damage your credit for years and result in higher interest rates. Checking account fees. Look for a bank that offers free checking with no minimum balancethey're out there. Many credit unions have that option, as well. Overdraft fees will cost you a bundle, too. You can probably opt out of them with your bank. You may also be able to eliminate many shipping fees. If you order from Amazon, you can save money with their Prime option. Convenience fees are also something you can eliminate with a little planning. These are when you buy something and the clerk tells you there's a minimum charge to use a credit card or debit card. Just say no. Unused subscriptions are another money waster. These aren't for magazines that you don't read but for streaming services or other things that you signed up for online. Check out getting anAmazon Prime membershipto eliminate shipping costs. Also look forcoupons and promo codesfor free shipping.To transfer money without a fee, seeVenmo,Cash AppandGoogle Pay. On today's program we also answer a few of your questions: Is giving to a friend in need the same as tithing to the church? What do you think about putting some of my checking account moneyI have about $20,000into a high-yield savings account? How will taking on 2 or 3 credit cards (but not using them) affect my credit score? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 You may have seen estimates for skyhigh health care costs during retirement that most workers could never hope to amass. But are the numbers really true? One of those forecasts says a 65-year old couple will have to spend as much as $400,000 during retirement. But some surprising new information from a top brokerage on that topic today. Then it's on to your calls at 800-525-7000. Brokerages like T. Rowe Price often go with very high numbers when estimating retirement healthcare costs. Their aim is to have people invest as much as possible during their working years to then pay for healthcare later in retirement. Not necessarily a bad approach, but fear shouldn't be the driver behind the advice. Refreshingly, T. Rowe Price shared an article, backed with facts, stating the catastrophic estimates are NOT accurate for the majority of retirees. Heathcare spending is the top concern for retirees but it's important to look to sound advice not fear of the unknown. The article shares three steps to simplify the planning exercise. oFirst: Don't view healthcare as a large one-time expenselook out 20-30 years. oSecond:separate premiums and out-of-pocket expenses. Premiums for Medicare and prescription drug coverage will make up about 75% of health care costs for most retirees, no matter which Medicare coverage they choose. oSince these fixed month-to-month expenses comprise the bulk of annual health care expenses most of that spending is predictable and you can simply make it a category in your monthly retirement budget oThird take those huge estimates for retirement health care costs with a big grain of salt. They're usually based on a single type of coverage that requires the most out-of-pocket spending. You will likely choose a better plan. T. Rowe Price estimates that half of retirees with traditional Medicare (Parts A and B), a prescription drug plan (Part D), and a supplemental plan will spend less than $1,200 a year on out-of-pocket expenses. Here are the steps you should take to makehealth care cost planning easier: oCompare premiums and out-of-pocket costs for the various Medicare coverage options. Include prescription drug coverage and choose one that fits your needs. o Calculate your premiums based on that plan and make a category for them in your monthly budget. o And finally, keep enough in your savings account to meet annual out-of-pocket expenses. Do that by reviewing those costs in prior years. Read the T. Rowe Price article,How to Break Down Health Care Costs in Retirement. On today's program we also answer a few listener questions: I have three pieces of property to sell. Should I sell them all separately? What are some principles to guide spending with a credit card? Is you are going to pay down your mortgage, do you first need to decide how long you are going to be in the house? I have 20K in a credit union savings account. I contribute 3% to my 401K at work. I have $500/mo to save. What should I do with this money? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Is the home sale frenzy over? The latest figures show a steep decline just when sales are usually strong. And what does that mean for the mortgage process? We'll get all the latest on those burning questions! We're joined by mortgage expert Dale Vermillion, author ofNavigating the Mortgage Maze: The Simple Truth about Financing Your Home. Have home sales peaked? No, property values to continue to go up, thought they have stabilized a little bit. What about sales of existing homes? They continue to be strong. These sales have risen about 1.4% and the inventory has gone up a bit. The value of homes has increased by 23.4% year over year! How do I determine a fair market value in a market like this? It's nearly impossible in some of the hot markets, unfortunately. Try to watch what the market does. But pray and seek the Lord on this. Don't get emotionally caught up in the excitement of the moment! Make sure that you're prepared before you ever go into a purchase transaction. What about renting? Look at what the markets trends are in your area. Regarding selling, have I missed any opportunities at this point? Yes, but that was early on. However, it's still a great market for sellers. On today's program we also answer some of your questions: I have an IRA sitting not accruing any interest. What other places can I put this into that would yield back money? I have some property. If I sell now I'd make three times the money! Should I keep this or sell it? What other things might I wisely use this property for? We don't need the Social Security coming to us now. We're in our 60s and my husband wants to continue to work. Should he wait until later? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Look up the wordmargin in a thesaurus and you'll see synonyms like surplus, extra, and latitude, for example. But when it comes to your finances, that all means one thing: having more money than month. To get that margin, you need more income than outgo. Margin (and not just for money) can apply to time and energy as well. How much do we have left over after all of our obligations are met? You have your job, family commitments, chores around the house, and obligations to your church. You must also prepare for unexpected or irregular expenses like broken plumbing or car repairs. All of these involve time, money, and effort on your part. Do you have time and energy left over to recharge your batteries and to spend time with God? That's another form of margin we all need. Margin means having extra for the rainy days like family emergencies, medical expenses above your deductible, or helping a visiting missionary or college student if God speaks to your heart. The key to acquiring margin is living on a budget (a spending plan) to help you decide in advance where your money will go. This isn't the same as balancing your checkbookthat's just seeing where your money went, not deciding in advance where it should go. When you finally get financial margin, you may find that you also have more physical and emotional margin. You'll sleep better, feel more relaxed, and are better able to use your spiritual gifts to serve God and help others. On today's program we also answer your calls: I heard that if somebody is divorced but remarried for over 20 years you're eligible for your ex-spouse's social security. But I'm 4 years older than my ex-husband and I'm nearing retirement age. So, do I wait untilmyretirement age that I'm eligible to take half of their social security or is it their retirement age? I'm going to receive some inheritance. I have a mortgage that's about $100,000 at 2.5%. My broker wants me to take the money and invest it. However, I'm skeptical. What might you recommend? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Proverbs 22:6 reads,Train a child in the way he should go, and when he is old he will not turn from it.But what exactly should that training entail? What are the most valuable things to teach children? Sharing the Gospel is obviously priceless, but teaching them to manage money God's way is perhaps the next most valuable gift you can give them. Maybe no one taught you the wise use of money when you were young and now you're struggling. The idea of teaching biblical finance to your kids seems daunting. It's never too late to learn how God wants you to manage the resources He's entrusted to you. The first thing you need to grasp is that He owns everything. We're just stewards. Second, you don't have to worry about money because God has promised to provide for your needs. And if you need help setting up a budget, download the new MoneyWise app. It's free and uses the tried and true envelope system, so it's easy to set up. The first thing you want to teach your children is a simple budgeting process: one-third for saving, one-third for giving, and one-third for spending. Guide them, but let them make their own decisions. As for saving, that can be for a larger goal like a video game or clothing. Someday, maybe it can be for a car or even college. If you want to give them an allowance, that's okay, but attach some regular chores to it like making their bed or helping with the dishes. You can also set up a job list for the kids with dollar amounts specified for certain tasks. This is above and beyond allowance. Never reward whining or begging. If your child desperately wants something, set up a plan to earn and save for it. Philippians 4:19 says, And my God will supply every need of yours according to his riches in glory in Christ Jesus. God is our provider and He will provide for our needs. He doesn't promise to give us everything we want. Finally, a verse to encourage generosity. Hebrews 13:16 teaches, Do not neglect to do good and to share what you have, for such sacrifices are pleasing to God. Giving breaks the power of money over usanother critical lesson for your children. On today's program we also answer a few of your questions: We've been paying so much over the years on our children's education that we have no money left over to tithe! I know that's backwards, but what advice would you give? I've been working full-time since I was 16. Employers may want to do an early buy-out for me. If they do, I may take it. Is there an advantage or disadvantage assuming I could roll my 401(k) into my wife's plan (with Edward Jones) What do you think? What advice can you give on long-term care insurance? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Honor the Lord with your wealth and with the first fruits of all your produce; then your barns will be filled with plenty, and your vats will be bursting with wine.That verse in Proverbs 3 is just one of more than 2300 in the Bible relating to money and possessions. God obviously takes this subject quite seriously and we should, as well. I'll talk about that first today with financial teacher and author Ron Blue. Then it's your calls at 800-525-7000. God's Word is never wrong. It's the source of all good financial wisdom. Here are two examples we use often: Proverbs 21:20, Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it. That's telling us to live on less than we earn to save a fundamental principle of investing. Ecclesiastes 11:2, Give a portion to seven, or even to eight, for you know not what disaster may happen on earth. Another fundamental investing principle diversification. These principles originated in God's Word. God's Word offersprinciples for wise living rather than a prescription. I've seen all of God's financial principles proven over 50 years of advising people on managing money. Faith should be the primary motivator but too often Christians tend to manage their finances out of fear rather than faith.Every decision, including financial decisions, are ultimately faith decisions. Scripture gives us the opportunity to seek wisdom rather than just knowledge. Debt always mortgages the future. It's never praised in Scripture and should be taken only when the potential return exceeds cost. In John 16:33, Jesus says,You will have suffering in this world. That includes financial suffering. You've got to save a cushion, an emergency fund, to meet unexpected expenses. On today's program we also answer a few of your questions: We live in the home that we purchased in 2020. Should we sell because of the current market? I want to move to be near my daughter. I won't get enough out of my home to purchase a home near her. Should I rent? I rolled over money to an IRA. I am over 60 and don't want anything aggressive. Is a mutual fund the best way to go for me? My husband and I inherited some land from his father. The land is pretty much worthless. We have been paying the tax bills on it, but we kind of want to get rid of it. What can we do? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 It's difficult to say what the most regrettable financial decision might be. Buying a timeshare comes to mind but high on the list is co-signing a loan for someone else. Getting stuck paying off a loan is bad enough, but worse, it's often for a close relative or friend. We'll talk about that today with some options for folks whohavecosigned. The best advice about cosigning is to never do it. One of Ben Franklin's famous quotes is, An ounce of prevention is worth a pound of cure. He wasn't referring to cosigning at the time, but the general principle applies. The Bible also is specific about cosigning and for good reason. Christians are often confused about it. Proverbs 11:15 says not to pledge surety for another. That's another way of saying don't co-sign a loan for another who doesn't qualify on his or her own. Also, Proverbs 17:18 says, One who lacks sense gives a pledge and puts up security in the presence of his neighbor. Proverbs also says in 22:26-27, 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? The danger of cosigning is the same today as it was 2,500 years ago. One study showed that only 4 out of 10 people who co-sign end up paying off the loan. Nearly a third suffer damage to their credit. Try refinancing. Your legal responsibility to repay the loan goes away if the other person refinances without you. 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 getting stuck with the whole loan. Try doing a credit makeover on the primary signer. Help that person understand the importance of improving their own credit score, paying their bills on time and paying off old debts. On today's program we also answer a few of your questions: My mother has an annuity. She has an amount of money that she'd like to do something with. I have 6 siblings that this will be split among whenshepasses. She can leave it with the company it's currently with at a 1% rate or she can take a lump sum and pay taxes on just the gains. We were advised to speak with a financial planner because there are other, better options. What is your take on tax liens? My college-age daughter wants to start long-term investing and is wanting to get the best interest, long term. She'd like to open an IRA. But what's the best option for her age? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 1 John 5:19 reads,We know that we are from God, and the whole world lies in the power of the evil one. It's a scary thought, especially if you have children, as the world tries to lead them astray, often with money. Art Rainer joins us today to talk about 7 money lies teenagers are believing these days and to arm you with the truth. Art Rainer is a financial author and teacher, and vice president of The College at Southeastern in Wake Forest, North Carolina. Then it's your calls at 800-525-7000. Teenagers are being bombarded with lies about money. The world is consistently pouring into them its money principles, and they are accepted without very little questioning. Little do they know that what's shaping their money mind is often toxic. Money Lie #1 is that the Bible doesn't really speak to money.Money can't be compartmentalized. How you think about and manage money will affect most areas of your life. Money Lie #2 is that money will make you happy.When you see images and videos of people that appear to have a lot of money, they always seem happy. Because of this, you can start to believe that more money leads to greater happiness. Money Lie #3 is that what the media portrays as wealth isreal monetary wealth. Money lie #4 told to teenagers is that their money decisions don't really matter right now. But, the decisions you make and the habits you make now can have a significant impact on your financial future. Money Lie #5 is that everything will eventually work itself out. Many teenagers think that their financial life will magically take care of itself. Poor spending habits and debt will catch up with you. A lack of savings will catch up with you. Talk to adults, they will tell you. Youwill be responsible for the result of your money decisions. Money Lie #6 told to teenagers is that they don't need to know much about money. Money Lie, #7 is the little bit of money I can give will not make a difference. Money lies are everywhere. Don't fall for them. They can lead you down a path of spiritual and financial ruin. Learn about and follow God's design for money. Seek his truth about money and you will find that for which you are truly looking. On today's program we also answer a listener question: I inherited about 300K. I put most of it in a mutual fund but have about 100K left. What should I do with this money? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Developing a budget isn't difficult if you know how much money you have to spend. But what if your income keeps changing? Then what do you do? Companies are using more contract workers these days and that often means irregular hours and pay. Budgeting on a variable income isn't hard if you know a few tricks. Spending less than you earn is the key to every financial success. It's nearly impossible to stay out of debt and save without a spending plan. Proverbs 27:23 reads,Know well the condition of your flocks, and give attention to your herds. Begin by tracking your expenses for 30 days. Capture every expense no matter how small. Think about the non-recurring expenses. Next, add these in with a monthly amount needed to have what's necessary when that expense rolls around. Then, take that 30 days of actual spending plus the non-recurring expenses and build a budget by category. The MoneyWise app will make quick work of that for you. Bring your budget in line with your income and making sure that your spending reflects your goals and priorities. You'll also have to decide who manages the budget going forward. Sometimes the more detailed and organized person to do this is the wife, sometimes it's the husband. Here's what you do about variableincome. Determine your average monthly income for the last six months. Ask, Can I reasonably expect to earn the same amount in the nextsix months? The goal is to arrive at a budget that can be covered by the average or slightly below average amount you expect to earn each month. On today's program we also answer some of your questions: My wife got a life insurance policy after her dad passed. She's been told she has to get a tax ID number before they can release the money to her. Is that accurate? Also, will any potentially unpaid medical bills come of that life insurance money? Is there such a thing as a self-managed account? If so, do you have names of companies that may have something like that? I want to select the investments myself. Do I have to do Medicare? Can I put it off or do I have to file something to let them know? Are there any new options now with Social Security? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 When is free money not so free? Maybe when it's part of expedited child tax credit payments from the IRS. It's all part of the American Rescue Plan passed by Congress earlier this year. Millions of American families have received these expedited payments in July and August. However, some may have to pay the piper for them next year at tax time. While the legislation is no doubt helping cash-strapped Americans still suffering from COVID shutdowns, there's a provision that could be a problem for many families when they have to file their 2021 returns. As part of the law, the Child Tax Credit for 2021 was increased to get more help to more families. Who's eligible for these tax credits? Married couples earning up to $150,000 a year can qualify for the full $300 monthly credit per child while single parents filing as head of household are eligible if they make up to $112,500 a year. Unfortunately, many families are likely to think that these monthly checks are like the previous stimulus payments. They're not.These payments will besubtractedfrom the amount eligible families would normally receive when they file their 2021 returns. So in a sense, it's like they're taking out a loan from themselves that will have to be repaid at tax time. Worse, the IRS says that depending on income it may demand reimbursement if a family receives overpayments for the child tax credit. Though it is a bit of a mess, you do have a couple of options. Even though you've probably received payments in July and August, you can still stop the remaining payments that you'd have to refund the government next spring. The other option is to just continue receiving the payments but don't spendthem. Instead, put the money in an online savings account where you can earn a little bit of interest. Proverbs 10:4 and 5 tells us, A slack hand causes poverty, but the hand of the diligent makes rich. He who gathers in summer is a prudent son. On today's program we also answer a couple of your questions: What do you think about consolidation loans to help pay off credit cards? My banker says that I should invest some of my money, maybe about $100,000, in mutual funds. What do you think? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 A word to the wise from Proverbs 15:22,Without counsel plans fail, but with many advisers they succeed. On today's MoneyWise,we're seeking wise counsel for couples. And we've got more frequently asked questions for Howard Dayton, author ofMoney and Marriage God's Way. If I have credit card debt that my husband doesn't know about but am reluctant to tell him because I'm afraid he'll never trust me again, what should I do? First, pray that the Lord would prepare him to receive this news well. Second, develop a plan to pay off the debt. Third, meet with him and tell him of your desire to be completely honest. My wife wants her elderly parents to come live with us, but I think they should go to an assisted-living facility. How can we resolve this issue? Pray together daily, asking the Lord to show you both what He wants to do. If you are reluctant to have them in your home because you can't afford to renovate it or care for them, seek other solutions. My husband and I both have been divorced and in previous marriages there was constant fighting about money. What can we do to avoid this in our marriage? Discuss the issue of frequent arguments and focus on encouraging each other and creating a culture of celebration in your marriage. My husband wants to buy a new car every three years even though we have to use lots of debt to do it. How can I show him in black-and-white that we should be buying used cars for cash? Go online tobankrate.com/calculatorsand find the one that computes the compounding growth of savings. Review it with your husband so he can catch the vision of the financial impact of regular savings. My wife is a compulsive spender. She wastes money on clothes and on her gambling addiction. What should I do? Love her, encourage her to seek professional help with this gambling problem, and take control of the family finances for her protection and the family's. On today's program we also answer a couple of your questions: My wife and I are in a ton of debt. How do I get started to best eradicate this? I'm looking to retire in the next 3 years. My employer has a cash balance retirement which means I can take the annuity or they'd just pay me out instead of that annuity. Does it make sense to pay off my home using the pay out? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Thanks to identity theft everybody knows that acompromisedpassword can cost you money, but now it turns out that alostpassword can also be financially devastating. It's a cautionary tale for most of us, but one of epic proportions for some cryptocurrency investors. We'll give you the details first today then it's on to your calls on any financial topic at 800-525-7000. For most of us losing a password is a temporary inconvenience. We simply click the Forgot Password link to have reset instructions sent to our recovery email address. But that's not how it works if you lose the password to your Bitcoin account. The world's biggest and best known cryptocurrency has no recovery process. If you lose your Bitcoin key you lose access to your account. It's estimated that 20-percent of all bitcoins in existence today are trapped inside accounts with lost or forgotten passwords. That's around $140 billion worth of assets that the owners can't touch. As more and more financial transactions are done online the number of passwords we have to keep track of these days continues to grow. It's the rare individual who doesn't lose track of a password occasionally. In fact, a recent survey revealed that25 percent of usforgetapasswordat least once a day. Using a weak password will put your privacy and finances at risk. Password managers are special apps that create random passwords for each of your accounts. This is especially valuable if you're in the habit of using one password on several accounts. Check out these password managers: LastPass, Dashlane, LogMeOnce, Bitwarden, 1Password, Keeper and Roboform. On today's program we also answer some of your questions: I am new to investing and recently opened a faith-based Roth through a credit union. I noticed some companies on the faith-based investing that I do not want to support. What do I do about this? My mother passed last year. Are any of her debts able to be forgiven? What is the best thing to do with my tax return? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 They say that honesty is the best policy. But for the Christian, it's really theonlypolicy. And the Bible doesn't make it a suggestion or guideline. God's WordcommandsHis people to be honest. And there are times when we're tempted to be dishonest, to fudge the truth in our favor. We can do that with our money. Although the Bible is filled with directions for living the Christian life, not all of them made it into the Ten Commandments. Honesty is is fundamentally important to God. He is completely and utterly holy and cannot abide sin of any kind, including dishonesty. God is truth. The world is watching to see which side we're on. We are image bearers of Godso we must always be scrupulously honest. When it comes to finances, how can you steal without first being dishonest? How can you be dishonest with money and not be stealing from someone? 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 here. He's teaching that how we manage it is a measure of our character. One blessing we receive by handling money honestly is that we reduce our stress level. Even if it costs us money, we have peace of mind in knowing that you're pleasing Godthe One who gives us everything. On today's program we also answer a some of your questions: My wife and I have a sum of money that we wish to give to our grandchildren. What can you tell me about the IRS calendar year gift tax? I'm refinancing my house. However, I hear that it adds on to the over all mortgage. What more can you tell me? Is this worth it or not? If I don't have any investmentsyou're starting freshwhere do you invest and how much? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 We used to call an exclusive dating relationship going steady. That's not an option these days when designating one's relationship status. Still, it's helpful in another way. Going steady is still a good way to describe another serious and sustained commitment: making regular investments. I'll talk about that first today with investing expert Mark Biller. Mark Biller is the executive editor at Sound Mind Investing. Then it's on to your calls at 800-525-7000. The going steady approach refers to automating your investing by having a predetermined amount of money regularly transferred from your bank account to an investment account. Dollar-cost-averaging works with you contributing the same amount each paycheck to your retirement account. When the market's up, you buy fewer shares and when it's down, you buy more shares. And it always pays off in the long run. In the article from Sound Mind Investing, there are six advantages of automating your investing described. The first is self-discipline. The next advantage is that automated investing eliminates the need to ask the question, Is this a good time to buy stocks? That question is a huge barrier to making new investments. The next advantage of dollar-cost averaging. You get more for your money and it pays off in the long run. The next advantage is efficiency. If you're using mutual funds, it allows you to purchase fractional fund shares. Peace of mind is another advantage. Making small monthly investments is way easier emotionally than putting a lot of money at risk all at once. The last advantage is the ease of getting started. At most brokerage firms and fund companies, you can open an investment account with a relatively small amount or even no upfront money at all. The easiest way to set up a plan is if your employer has a retirement plan, like a 401k or 403b for you to participate through. You might also get some matching contributions if you go this route, so it's worth checking there first. If your employer doesn't offer you an automated plan, the next best choice for most people is to set up an IRA with a broker or mutual fund company. You can read more about this in their monthly newsletter at SoundMindInvesting.org. The article is titled Going Steady: The Advantages of a Systematic Investment Plan. On today's program we also answer a couple of your questions: We are involved in a bankruptcy and I was approached about refinancing. Is this something smart to consider? I have a vacant property and someone has just asked to buy it. My husband is concerned about the tax penalty. Can you help us on this? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Often a bad habit doesn't seem to start that way. Maybe it's just something fun that you do with others and only on weekends. But before long you're doing it everyday and hiding it. You've developed a credit card habit. Falling into the grip of plastic can definitely feel like an addiction, but like with any bad habit there's a way to wean yourself off of it. We'll talk about that first today then it's on to your calls at 800-525-7000. The Bible doesn't call debt a sin, but neither does it encourage it. Some debt is acceptable if it promises a return that's greater than the cost. That might be for education buying a home or starting a business. Credit card debt is not acceptable because there is no return. It's used to fund a lifestyle that you can't afford and the interest payments are a huge net loss to your finances. Plus, it limits how much God can use you for Kingdom work. We mainly talk about two things here on the program, God and money, specifically, managing money to glorify God. You can't do that if you're up to your neck in credit card debt. If you're caught in a repeating cycle of using credit cards and you're falling behind each month as your balance and interest payments grow I want to tell you that you're not alone. 1 Corinthians 10:13 tells us, No temptation has overtaken you that is not common to man. 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 first thing you need to do is pray. Ask God to send His Spirit to strengthen you and lead you. Pray for wisdom and encouragement as you commit to managing your finances according to biblical principles. Ask and you will receive. Next, take a simple, practical step you can take to start weaning yourself off of credit cards. A group of researchers asked participants to follow something called the $20 rule. They agreed not to use a credit card to purchase anything that cost less than $20. If that resulted in them spending less money they could apply the savings to their credit card balance. The study went on for six months and those who followed the rule produced some interesting results. By using cash for all purchases under $20 those folks on average reduced their credit card balance by just over $100. Our friends at Christian Credit Counselors can get you on a debt management program that lowers your interest rates and helps you pay off your debt up to 80% faster. The folks there take a biblical approach to paying off debt. Find out more at ChristianCreditCounselors.org. Here are a couple of questions we answered from our callers on today's program: Do you recommend a revocable or irrevocable trust? I have seven credit cards with a zero balance. What is the best way to get rid of them? We have a couple pieces of property that we divided. We would like to sell a couple of them. We thought we could use the profits to help supplement retirement and do some work on our home. How do we calculate capital gains? We own two properties. We are soon to pay off one of them and will pay off the next one next year. How do we insulate our credit score to avoid a dip? Ask your questions at (800) 525-7000 or email them toQuestions@MoneyWise.org. Remember, you can call or email us 24/7.Visit us online at MoneyWise.org where you can listen to past programs, connect with a MoneyWise Coach, and download free resources like the MoneyWise app. Like and Follow us on Facebook at MoneyWise Media to join the latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 God's Word frequently encourages us to be generous. Luke 6:38 is a good example. It reads,Give, and it will be given to you.For with the measure you use it will be measured back to you.As we're encouraged to give, we should also encourage the ministries receiving our gifts. It's a partnership. Connie Hougland of the National Christian Foundation tells us how to do that today. Connie Hougland is Vice President of Ministry Services for the National Christian Foundation and has been with NCF for 20 years, sitting in a unique position between givers and the ministries or charities that receive those gifts. Encouraging ministries lets them know that you not only care about what they do but about the leaders themselves. As we invest our money in God's work, givers need to remember that with charities there are also administrative costs and overhead to pay. Have a giving strategy, not just a money-making one.National Christian Foundation helps people to develop this so that they can be wise stewards of all they have. How does the NCF giving fund work? It's similar to a charitable bank account. You put resources in (cash or non-cash), you receive your tax deduction, and then you use those funds to meet your charitable objectives. Learn more about National Christian Foundation atncfgiving.com. See these helpful NCF articles:Five ways to help your favorite charity be more resilient,5 gifts (that aren't money) to help a charity thrive, andWhat makes a faithful steward. On today's program we also take your calls: Melanie calls in to celebrate with Rob that as of yesterday she's paid off her mortgage. Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 The Parable of the Persistent Widow is a lesson about the power of prayer. But does it also teach us how to deal with unrighteous judges in our lives? How often are you frustrated in your attempts to get satisfaction from some big corporation? Maybe you're overcharged on your cell phone bill or a product turns out to be shoddy. We'll apply a Bible lesson to the problem today. Jesus said, In a certain city there was a judge who neither feared God nor respected man.And there was a widow who kept coming to him saying, Give me justice against my adversary.'For a while he refused, but afterward he said to himself, Though I neither fear God nor respect man, yet because this widow keeps bothering me, I will give her justice, so that she will not beat me down by her continual coming. When you email someone directly at the top, you'll discover that some companies have something called an executive escalations department. Think of it as an executive customer service department staffed by people called executive response specialists. Their job is toprovide speedy resolution to customer complaints that have somehow escalatedto the level of the top brass in the company. Find a working email for someone at the top of the company. See these websites for help finding an email address:CEO Email Addresses,ElliottAdvocacyandGetHuman.com. If that doesn't work, try to getanyone'semail address at the company. It has to be a personal address. Finally, it's always better to use email rather than the phone because it leaves a paper trail. On today's program we also answer some of your questions: How do I figure capital gains when selling a house? Tell me more about spousal benefit related to Social Securityreceiving benefits from the other's Social Security when one passes. I want to put together a will for my three boys. What do you recommend? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Folks are always asking us, How much will I need to retire? And of course, the answer is, It depends. It depends on your needs, lifestyle and one more important factor. That other important piece of the retirement puzzle is, How much are you willing and able to cut from your budget? We'll talk about that first today then we'll take your calls and questions on any financial topic at 800-525-7000. Experts will tell you that you'll need at least 70% of your working income when you retire. Your transportation, clothing and dining out expenses will drop considerably when you're no longer working. Studies show the average retirement budget is only about 60% of working income. So, if you're working and making $50,000 a year you'll need 70% or $35,000 in retirement. But if you're on track to generate only 60% of your working budget from Social Security and income generated by your investments you'll be $5000 a year, short of your estimated living expenses. This all means that you'll have to work longer to generate more savings unless you're able to cut your retirement expenses enough to close that gap or at least make it smaller. One major way to do that is to downsize in your home. Downsizing should leave you with cash left over that you can convert into an income stream. The next biggest way to cut your retirement budget is with transportation. If neither your or your spouse is working, do you really need two vehicles? Another thing to consider is insurance,specifically, disability and life insurance. You may not need the same policies that you have been carrying. Also, look at interest on a credit card balance or other consumer debt. It's never good, but it is a lot worse when you're retired and trying to adjust to a smaller income. Finally, carefully go through your monthly bills to see what else you can cut. One thing you may have plenty of in retirement is time, so consider giving more of it to your church or favorite ministry. Christians shouldn't retire from something, but to something. Here are a few of questions we answered from our callers on today's program: ●My wife and I bought a new vehicle a couple years ago. We financed 12K on it. I was under the assumptions that we could pay off the vehicle early and not pay the interest, but apparently, I was wrong. Can you explain this? ●I am 43 years old and am trying to think of the best ways to invest. Advice? ●My kids are encouraging us to invest in the stock market. Can you offer some wisdom on this subject? ●My husband just retired from the air force. We are trying to make sure that we have a good looking portfolio for retirement. Can you advise us on this? Ask your questions at (800) 525-7000 or email them toQuestions@MoneyWise.org. Remember, you can call or email us 24/7.Visit us online at MoneyWise.org where you can listen to past programs, connect with a MoneyWise Coach, and download free resources like the MoneyWise app. Like and Follow us on Facebook at MoneyWise Media to join the latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Do you worry about money? Not just once in a while, but consistently? Always fretting about whether you'll have enough for tomorrow? Is it robbing your sleep and hurting your relationships? It doesn't have to be that way. You can take tangible steps to overcome your money worries and gain much needed peace of mind. If you're a money worrier you're not alone. Surveys show that moneyis one of the top causes of stress in America and one made worse by COVID shutdowns. This worry comes fromnot managing money wisely. One kind of worry is a rational concern.It's understandable to be concerned about not having enough to pay your bills. The other kind of worry is irrational. That is, even though you're taking all the right steps to stay on a budget and to keep your spending under control, you still worry. Jesus tells us in Matthew 6 not to worry about these things and that God will provide for our needs: Therefore do not be anxious, saying, What shall we eat?' or What shall we drink?' or What shall we wear?' For your heavenly Father knows that you need them all. If you have irrational fears about money, it could be that your focus is on wants instead of on needsonyourselfand not Christ. Understand that money is controlling you. You are the one giving it the power to do that. The quickest way to break that power is by giving. This takes the emphasis off of yourself and puts it on others in need. Jesus also says in Matthew 6, Seek first his kingdom and his righteousness, and all these things will be given to you as well. On today's program we also answer a few of your questions: I have a lien on my property and I'm trying to refinance but they're saying they can't do the lien. What do I do? I'm currently on Social Security. I'm in my 70s. I've heard it said that in 2035 the trust fund would be completed for Social Security. So does this mean that I won't receive any more money from this? I'm in my 30s and I don't want to wait forever to pursue my career goal of being a songwriter. I've been successful so far. Should I take some retirement money to further this goal as I work my regular, daily job? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 1 Peter 5:7 reads, Cast all your anxiety on him because he cares for you. God's Word is filled with verses to bring comfort in uncertain times. He always does His part, but we have to, as well.That's especially true in times of economic uncertainty. We can't stand idly by when there are things we should do to prepare. Financial teacher and author Ron Blue is here to talk about that today. Our guest Ron Blue is co-founder of Kingdom Advisors and he's often called the father of Christian financial planning. Then it's on to your calls at 800-525-7000. Ron Blue is heavily involved in training financial professionals to become Certified Kingdom Advisors. He has developed a series of video talks called Transferable Concepts that are very beneficial. Ron explains that transferable concepts are something that people can get their hands around, but it's something that they can grapple with and it will drive their behavior as they grapple with it. Today, Rob and Ron discuss the transferable concept involving economic uncertainty. He explains that throughout his life he has always seens some kind of economic uncertaininty caused by all different kinds of events. He teaches us that It's that economic uncertainty is certain and to not be surprised by it. He then reviews some key principles of spending, saving and giving that will drive our positive behavior during economic uncertainty Do not over spend during economic uncertainty. Proverbs 22:7 warns us, The rich rules over the poor and the borrower is slave to the lender. Also, we must be good savers during these times.Proverbs 6 tells us, Go to the ant consider its ways and be wise! It stores its provisions in summer and gathers its food at harvest. Also, giving breaks the power of money over us, so don't forget to give generously during these times. Jesus says inActs 20:35, It is more blessed to give than to receive. Giving to others gives you a sense of peace and contentment. Here are a few of questions we answered from our callers on today's program: ●I purchased a home 3 years ago and I just transferred mortgage companies. I was contacted by them to refinance. How do you know when it is the right time to do that? ●I got a call from my financial advisor advising me to start and IRA. Is this a good idea? I am 59.5. ●My sister was in an accident and her car was totaled. My sister is retired and got about 6K for the totaled car. She is now leaning towards leasing a new car. Is this wise for her? ●We were approved for two different options for a mortgage involving points. Can you explain this to me and help me make the right decision? Ask your questions at (800) 525-7000 or email them toQuestions@MoneyWise.org. Remember, you can call or email us 24/7.Visit us online at MoneyWise.org where you can listen to past programs, connect with a MoneyWise Coach, and download free resources like the MoneyWise app. Like and Follow us on Facebook at MoneyWise Media to join the latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Is the home sale frenzy over? The latest figures show a steep decline just when sales are usually strong. And what does that mean for the mortgage process? We'll get all the latest on those burning questions! We're joined by mortgage expert Dale Vermillion, author ofNavigating the Mortgage Maze: The Simple Truth about Financing Your Home. Have home sales peaked? No, property values to continue to go up, thought they have stabilized a little bit. What about sales of existing homes? They continue to be strong. These sales have risen about 1.4% and the inventory has gone up a bit. The value of homes has increased by 23.4% year over year! How do I determine a fair market value in a market like this? It's nearly impossible in some of the hot markets, unfortunately. Try to watch what the market does. But pray and seek the Lord on this. Don't get emotionally caught up in the excitement of the moment! Make sure that you're prepared before you ever go into a purchase transaction. What about renting? Look at what the markets trends are in your area. Regarding selling, have I missed any opportunities at this point? Yes, but that was early on. However, it's still a great market for sellers. On today's program we also answer some of your questions: I have an IRA sitting not accruing any interest. What other places can I put this into that would yield back money? I have some property. If I sell now I'd make three times the money! Should I keep this or sell it? What other things might I wisely use this property for? We don't need the Social Security coming to us now. We're in our 60s and my husband wants to continue to work. Should he wait until later? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Whether you call it a side gig, hustle, or business, a surprising number of Americans have found ways to bring in extra cash while a lot more are thinking about it. It's a trend that was well underway before the COVID shutdowns and the pandemic seems to have only increased our desire to make money on the side. 1 in 3 have already started some type of side venture and another 25% plan to start one in the near future. Rules and attitudes toward side jobs vary from company to company. Refer to your employee handbook to find out what is and isn't allowed. Talk is cheap. So it's not enough to just tell your employer that you're keeping your jobandyour side business separate. Demonstrate commitment to them by continuing to perform well for your employer. Your full time job is still paying the bills and is funding your startup side gig. Don't do anything to jeopardize your primary income stream! Set some boundariesbetween your job and your side business, but also between work and your family or home life. You can't work all the time and you should carve out time for your loved ones and for relaxation. On today's program we also answer a couple of your questions: How can I learn about the companiesbehindthe financial advisors? How do advisors' fees and philosophies relate since they take a percentage of finances that they're going to be taking care of? My daughter just recently graduated from high school. What advice can you give to put her on the right track to invest at such a young age? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Isaiah 2:11 reads, The haughty looks of man shall be brought low, and the lofty pride of men shall be humbled, and the Lord alone will be exalted in that day. Pride first made its appearance in the Garden of Eden and it has harmed our fellowship with God ever since. But what does thinking too highly of yourself have to do with money? There's an important distinction to note between sin and pride and we have to look inwardly to discern. It's ok to take satisfaction in one's family, work, accomplishments, etc. as long as we always remember to give God the glory. The key distinction and danger of pride comes when it leads to exalting oneself over God. How can we discern and guard ourselves against pride? Look for the signs. Are we being critical to others? In our financial lives are we putting ourselves first and not managing our money in a Godly way? Have we lost sight of the fact that God owns everything and we're simply stewards or managers? The bible warns repeatedly that pride comes before destruction. This manifests itself financially when we fall to the temptation of living outside of our means. We buy a house or car we can't afford or run up credit card debt. We often lie to ourselves about the reason but often below the surface we believe we deserve more than what God has provided. God resists the proud and gives grace to the humble. We're reminded in James 4:10, Humble yourselves before the Lord, and he will exalt you. The bottom line is we're called to humble ourselves, think more highly of others and as a result extend grace to them as grace has been extended to us. Here are a few of questions we answered from our callers on today's program: ●What does payable upon death mean? ●My wife and I had a will done by an attorney and need to update it. What are your thoughts on the online will options? ●Is it okay to have only one savings account? ●I am 65 years old and have a small pension. I could have taken it last year, but I chose not to. When should I take it? Ask your questions at (800) 525-7000 or email them toQuestions@MoneyWise.org. Remember, you can call or email us 24/7.Visit us online at MoneyWise.org where you can listen to past programs, connect with a MoneyWise Coach, and download free resources like the MoneyWise app. Like and Follow us on Facebook at MoneyWise Media to join the latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Developing a budget isn't difficult if you know how much money you have to spend. But what if your income keeps changing? Then what do you do? Companies are using more contract workers these days and that often means irregular hours and pay. Budgeting on a variable income isn't hard if you know a few tricks. Spending less than you earn is the key to every financial success. It's nearly impossible to stay out of debt and save without a spending plan. Proverbs 27:23 reads,Know well the condition of your flocks, and give attention to your herds. Begin by tracking your expenses for 30 days. Capture every expense no matter how small. Think about the non-recurring expenses. Next, add these in with a monthly amount needed to have what's necessary when that expense rolls around. Then, take that 30 days of actual spending plus the non-recurring expenses and build a budget by category. The MoneyWise app will make quick work of that for you. Bring your budget in line with your income and making sure that your spending reflects your goals and priorities. You'll also have to decide who manages the budget going forward. Sometimes the more detailed and organized person to do this is the wife, sometimes it's the husband. Here's what you do about variableincome. Determine your average monthly income for the last six months. Ask, Can I reasonably expect to earn the same amount in the nextsix months? The goal is to arrive at a budget that can be covered by the average or slightly below average amount you expect to earn each month. On today's program we also answer some of your questions: My wife got a life insurance policy after her dad passed. She's been told she has to get a tax ID number before they can release the money to her. Is that accurate? Also, will any potentially unpaid medical bills come of that life insurance money? Is there such a thing as a self-managed account? If so, do you have names of companies that may have something like that? I want to select the investments myself. Do I have to do Medicare? Can I put it off or do I have to file something to let them know? Are there any new options now with Social Security? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 For many Americans the pandemic is starting to fade away like a bad dream but for others the economic impact is an ongoing nightmare. Millions of jobs were lost in the U.S. due to COVID and not all have returned not by a long shot. That's pushed many folks deeper in debt. John Jodka with Christian Credit Counselors tells us the best way to manage that debt today.Then it's on to your calls at 800-525-7000. Millions of Americans lost their jobs during the Covid pandemic and household debt increased to over $14.6 trillion. As restrictions lift, millions of Americans find themselves returning to work, but unable to effectively deal with the debt they incurred just to make ends meet over the last 18 months. John offers some helpful strategies to deal with the debt. The first strategy that many people use is dealing with their creditors directly This tends to be very straight forward and generally keeps the accounts open and in good standing, but solutions are usually short term and they may not be the most favorable terms a creditor could offer. ●The other strategy to consider is debt management. This is the best strategy by far. The benefits of this strategy are that the debt management agency works in partnership with creditors to reduce monthly payments and APRs and accounts remain in good standing and balances are paid in full. Accounts are paid off more quickly than other methods and one-on-one counseling helps realize long-term solutions. ●A couple negatives of this strategy include accounts being closed by the creditors once the plan is approved and consistent monthly payments are required in order to maintain benefits. Here are a coupleof questions we answered from our callers on today's program: ●My credit score has gone down and I'm trying to build it up again. How can I get my credit rating back up? ●What would you say to someone working for a non-Christian employer in a sales role tied to a worldly product/service? Ask your questions at (800) 525-7000 or email them toQuestions@MoneyWise.org. Remember, you can call or email us 24/7.Visit us online at MoneyWise.org where you can listen to past programs, connect with a MoneyWise Coach, and download free resources like the MoneyWise app. Like and Follow us on Facebook at MoneyWise Media to join the latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 The lowly I bond may be the Cinderella of fixed income securities. It's almost always left out when folks diversify their portfolios. But these days, the I bond could become thebelle of the ball! I bonds have a feature lacking in many other fixed income securities: built-in inflation protection, something that's becoming increasingly important. An I Bond, or Inflation Bond, is an interest-bearing U.S. government savings security. They have a 20-year initial maturity, plus a 10-year extended period for a total of 30 years. They're used as a hedge against inflation. There are drawbacks to the I bond, especially if you were looking to rebalance a significant portion of your portfolio with them. You can only buy up to $10,000 worth of I bonds, per person, each year. You can't redeem an I bond until a full year after purchase and there's an early withdrawal penalty. Also, you can't put them in a 401(k) or a traditional or Roth IRA. Youcanpurchase another $5,000 worth each year with your tax refund. To purchase these, go toTreasuryDirect.govand look for the link for How To Buy Series I. The reason you probably haven't considered I bonds in the past is because of their terrible track record over the last 20 years or so. However, they're now considered quite the hot commodity in investing circles. Buying I bonds for your portfolio is not investing. These bonds basically have zero risk, so the return is appropriately low. Compare buying these to buying gold, which some people also do to fight inflation. The difference is that with gold you have absolutely no guarantee that your holdings will keep pace with inflation. In fact, you can lose money with gold. There's no chance of that with an I bond. On today's program we also answer several of your call-in questions: You've said that your mortgage payment should never be more than 25% of your take-home pay. Should this principle apply to both spouses or to just one? We'rebothworking. What's wrong with buying a lottery ticket here and there? We have a 4% interest rate on our mortgage and we owe $110,000. The home's value is around $230,000. We pay an extra $400 per month on the principle. We're considering refinancing. Should we just pay the house off? We're not sure what we should do. I have an old HSA from a previous employer. However, I'm about to have elective surgery and I'm wondering if it's better to go ahead and use that account right away or just to pay for the surgery out of pocket and then take the distribution at a later date to let the money grow in that account. Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 These days, people focus on two things when buying goods and services: how fast can I get it and how much does it cost? What folks don't often consider is that the first one has a big impact on the second and that's how much they'll have to pay for convenience because it certainly isn't free. We want to be good stewards of the resources God entrusts to us. But if you have the money in your budget for a convenience purchase, is it wrong to buy it? Not necessarily. We have to budget our time as well as our money. Don't ignore the fact that convenience costs money. Maybe you don't have time to cook at home so you opt for pizza delivery, something not in the budget. Or instead of waiting for an item to go on sale at a local store you go online to buy it. Now you're paying for shipping, too. There are other ways we might sacrifice stewardship for convenience. Payday loans, for example. These have extremely high interest rates. Another example is an unlimited data plan on your cell phone. Do you really need it? We should always be thinking, What else could God's money be used for? Even if you have the money to pay for a convenience, it doesn't mean you always should, especially if it results in your saving or giving less. Here's the bottom line. The less discretionary money you have, the fewer conveniences you can afford. God wants us to enjoy his abundance, and there's nothing wrong with that, within reason. On today's program we also answer a few of your questions: What advice do you have regarding charitable giving in a period of our lives where we'll have less income? My husband and I are looking at purchasing a new vehicle. What's your opinion on buying new versus used? We're aware how expensive used cars are right now and that there are incentives out there to buy new. I'm planning to retire at 62. But doing the math, I don't think it's such a bad idea instead of waiting until full retirement age. What are your thoughts? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Proverbs 13:22 tells us we should leave something to our heirs. It says,A good man leaves an inheritance to his children's children. But it doesn't say how to do it. Often, when parents make out a will, they simply divide their assets equally among their children and that includes property. But some experts will tell you that's asking for trouble. A common entry you'll find in any will is My estate will be divided equally among my children. But this immediately forces your heirs to make a difficult decision. Do they continue to hold the property in joint ownership? Or do they sell it and divide the proceeds? However, a third option exists: are one or more heirs willing to buy out the others? Emotionally, inheriting real estate may cause heirs to make unwise decisions based upon feelings, rather than facts. In many cases, the ancestral family home becomes a money pit that breeds contention. Many experts suggest that you handle this like any other asset in your will. Stipulate that upon your death that all property be sold and that the proceeds be divided equally among your heirs. Discuss your wishes with your family so that no one is surprised after die. Everyone needs to understand not only your decisions but why you made them. By having serious discussions about your estate ahead of time you can eliminate the potential for infighting and resentment later. If you need help drawing up a will or changing one, it's important to work with an estate attorney who shares your Christian worldview. You can do that by finding a Certified Kingdom Advisor. Go to MoneyWise.org and clicking on Find a CKA. On today's program we also answer a couple of yourquestions: My wife and I are trying to decide if it's a better time to go ahead and take some money and buy property three years ahead of actually moving onto it. But because of the worries of the possibility of investing and getting taxed heavily on it if we were to put into into some kind of investment account, we're also worried about the current, political outlook. How should we proceed, you think? Is it true that you can put other things into a Roth IRA other than just stock market purchases? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 If you had to pick a single Bible verse to explain the financial condition of many American households today it might be Proverbs 20:21: Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it. But these days we'd define precious treasure and oil as money or wealth. Is something keeping you from storing it up? Today on MoneyWise we'll look at some of the biggest reasons this might happen. Credit card debt. We're always hearing about low interest rates these days, but that certainly doesn't apply to credit cards. The average balance for folks carrying one is roughly $6,800 with an average interest rate of 16%. If you're carrying a credit card balance, it's imperative that you get on a budget and make a plan to pay that debt off quickly. Student loan debt. Worse than just racking up a lot of college debt is doing that, but then not earning the degree. It's arguable that borrowing for education is an investment that, in most cases, will pay for itself with a higher future salary. But not if you don't stick with it -- if you drop out of school without the diploma, you're still stuck with the debt but likely in a lower paying job. If you're considering college, make a commitment to graduate before borrowing a penny. Otherwise, it's money down the drain. Buying a home or car that's more than you can afford. It's estimated that a vehicle depreciates up to 20% just by driving it off the dealer lot. If you're buying a house or car, don't let your pride and ego enter into the decision-making process. Make sure the payments fit comfortably in your budget. Next on the list of big wealth killers is no doubt the most controversial, divorce. There's no question that God hates divorce. In Matthew 19:6, Jesus says spouses that are no longer two but one flesh. What therefore God has joined together, let not man separate. And while it's spiritually devastating, we also can't ignore the financial destruction caused by divorce. It splits assets, increases expenses, and reduces net income. The National Retirement Risk Index shows that most people would need a 30% increase in income to maintain the same lifestyle after divorce. And of course, one of the biggest reasons often cited for divorce is couples arguing about money. It's important that you and your spouse share the same financial goals. That makes saving and spending decisions much easier. To determine those goals, it's helpful to seek outside assistance from an advisor who shares your Christian values. You can do that by finding a Certified Kingdom Advisor near you. Go to MoneyWise.org and click Find a CKA. Last of the list is personal lifestyle creep -- spending more than you can afford given your other goals and priorities. If your income increases, so does your spending and you never get ahead. In his book Master Your Money, Ron Blue sums it up like this, If you spend more than you make, you'll go into debt and rob yourself of the ability to save for emergencies and to invest for the future. This is just simple, inescapable math. Yet so many people do it. On today's program we also answer the following listener questions: We want to be able to set up our 4 children financially for the future. What would you recommend? Would you recommend for us to keep the money that we currently have in savings and move it into something else like CDs or mutual funds? I just retired and want to make a purchase. Would it be better to make the purchase and pay it off with their store credit card (deferred payments) or would it be better to just pay it off with money that I now have in savings? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 You picked out the make and model. You've been saving your money, waiting to buy a new car. You may have even found the car you want. Now the question is what to do with the old one! If your current vehicle still has value, you can trade it in if you're buying from a dealer or sell it yourself. If that thought fills you with fear and loathing, here's how to do it. And remember that in most cases, you'll end up with more money by selling it it yourself. Dealerships have overhead and they have to clean and prep the vehicle, then price it to make a profit. But that's money you could make by selling it yourself. First, gather your papers, starting with the vehicle's title. You won't have one if there's a lien on the car and you still owe money. In that case, it's best to wait until you have it paid off before selling the vehicle. Go online to your Department of Motor Vehicles to see what forms are needed to transfer ownership like a downloadable bill of sale. Also, check to see if the license plates stay with the car after it's sold. Then order a vehicle history report from Carfax or AutoCheck. Buyers will want to check it. Set your asking price. Go online to Edmunds or Kelley Blue Book. Plug in your make, model, mileage, features, and condition to get an estimated value. Set your price a bit higher to give room to negotiate. Give your car a thorough cleaning. Outside, you want curb appeal, so wash and wax. Inside, remove all the stuff that's accumulated in the glove box, under the seats and in the trunk. Pull out the floor mats and scrub them clean and vacuum the carpet. If the car starts to look too good to sell, you know you've done a good job. Advertise. Take lots of photos inside and out and choose the best half dozen or so. Include the best features like low tread-wear on the tires. Now you're ready to start posting ads. You can do that at Craigslist, Auto Trader or Ebay Motors. Craigslist is free. Autotrader ad rates start at $25 but it's worth it because the site is used by serious buyers. At Ebay Motors, you can either auction the car or buy an ad. In any case, enter basic information about the car: make, model, mileage, price, and so on. Also write a short description where you can list special features like bluetooth or reverse cam. Screen perspective buyers. If you give a phone number, let it go to voicemail so you can choose who to call back. And watch out for buyers who lowball you or negotiate before seeing the vehicle. They could be flippers who buy low and then put the vehicle back on the market at a higher price. Be ready to discuss the car's features. When you have a good prospect, set up a test drive. Don't do it from your home. Choose a safe, public location like a big box store parking lot. Take a friend with you if you can. And let the buyer drive the carbut go along for the ride. Resist negotiating at that point. Instead, just answer any questions the buyer may have. If they want to have a mechanic inspect the car, agree, but insist they pay for it. If the inspection reveals items that need immediate attention, you may have to lower your price to compensate. However, don't address every item on a long list of potential problems. It is, after all, a used car. Close the deal. Don't make the first offer. If you're asked for your best price, say your asking price is fair, but you'll consider an offer. If you agree to a price, tell the buyer you'll accept only cash or a cashier's check. Then, with the money in hand, sign and date the title and give the buyer a completed bill of sale. That's it! One more option: You can donate the vehicle. First, check with your local church to see if there's interest in taking the donation. The church could use it to bring people to services or give it to a member in need. You can also donate your car to the Salvation Army or another Christian charity. Order a vehicle history report from Carfax.com or Autocheck.com. Check your car's value at Edmunds.com or Kelley Blue Book (kbb.com). Donate your vehicle to the Salvation Army by visiting SalvationUSA.CarEasy.org/faq. On today's program we also answer your questions: Is my ex-spouse eligible to collect Social Security on me? Does that affect my own benefits? Should I give more, save more, or do both? How do I decide where and when to do that? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 Looking for ways to squeeze just a few more dollars out of your budget? Sometimes, just a single tip can save you a tidy little sum each month. But bundle a few of them together and now you're really saving money! The Bible teaches us to be wise stewards of God's resources and that starts with living on a budget. Today we have some great tips to help you stretch your budget. Take advantage of your grocery store's option to order online. When you order online you always know exactly what you're spending. If you go over budget, you can easily remove something from your digital cart. Some folks have reported saving over a hundred dollars a month that way. Plus, this saves a lot of time. If you need to pick up a grocery item or two later in the week, don't get a cart or basket. That way, when you have to carry the items to check out you won't be able to impulse shop. Keep your checking and savings accounts in different banks. If you don't "see" your savings account you're less likely to tap into it. This is another reason to have your savings account in a higher interest online bank. You can connect it with your checking account to transfer money. But otherwise, your savings are out of sight. Pay off debt first! Don't wait to see how much you have left over at the end of the month. Budget an amount for debt repayment and transfer that money when it comes in. That way you know it's done. Have a weekly budget meeting or "Money Date" with your spouse. Sit down and discuss how well you did last week staying on budget and how you're doing at meeting your goals. Get an accountability partner, probably your spouse, for large purchases. Agree to consult the other person before spending, say, more than $50. By talking about it, you may discover that the item isn't necessary. Often, just the thought of having to clear it with someone makes the desire to spend go away. If an unexpected expense crops up and you don't yet have an emergency fund and it blows your budget for the month, don't give up! Instead, write up a temporary budget to get you through the rest of the month or until your next paycheck. Cut out all unnecessary spending and try to stay as close to budget as possible while living on as little as you can. Don't let it become an excuse to overspend just because you hit a bump in the road. Make it more difficult to buy stuff online. Delete your credit or debit card information from online stores. If you have to get up and hunt for your wallet, you're more likely to think twice about making a purchase. If you spend cash rather than using plastic, you're already spending less just from the psychological factor of having to use real dollars. But there's another way cash-spenders can save. Let's say you have to make a major purchase and you've saved up cash for it. Ask for a discount because you're paying with cash. The store is automatically saving 2 or 3% by not having to pay a vendor fee and they might pass some of that savings on to you. Hey, every little bit helps and it doesn't cost anything to ask. You can often negotiate your medical bills, too. In many cases, a doctor, hospital or clinic will give you a break, especially if you're paying with cash. That way, they don't have to go through an insurance company to get paid. On today's program we also answer the following listener questions: I keep hearing about Roth IRAs. I don't have one. Am I too old and will it benefit me much? I'm 57 years old. Just how much money do you need for retirement anyway? What is a SEP IRA and how can it benefit me as someone who's self-employed? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 The longer you do something the more it becomes a habit. And that's not necessarily a bad thing. Establishing good habits early in life will be a blessing for years to come. It's never too early to establish wise habits for managing money, especially if you're a teenager. Today, we'll give you five of them, and these are great habits to start anytime in life. 1. Stay on top of spending. It's always important to know where your money is going; but you can't do that unless you track it. The MoneyWise app helps you by establishing a budget based on the envelope system. You can monitor all of your transactions and catch bad habits before they get out of hand. While you're at it, consider getting a cash back debit card that will earn money back on your purchases. Just make sure they're budgeted. 2. Get a budget buddy. Two heads are better than one and you can challenge each other to stay on budget and look for ways to save money. 3. Always Be Saving (ABS). Another way to say it is pay yourself first. When you deposit money into your checking account, transfer a portion of it to savings. Do this before you spend even a penny and do it consistently, even if it's only a few dollars a week. The important thing is to establish the habit of saving. And while you're establishing the saving habit, you can do the same for giving. 4. Build a good credit rating. Parents can set up a secured credit card for you that lets you deposit a certain amount into an account that the bank holds as collateral for the card. You can then make small, budgeted purchases up to your limit, which is the amount on deposit. Then you pay the card off in full each month. As you do that, you'll start to establish a good credit history and score. But remember that having credit is a double-edge sword. It can be a real convenience or it can lead you into debt if you're not careful. To avoid that, refer back to habit number 1 to stay on top of your spending and stay on budget. 5. Learn how to manage money wisely. There's no better way to do that than by studying God's Word. The Bible has more than 2,300 verses related to the wise use of money and possessions. As you study Scripture, be on the lookout for them and consider how they apply to your life. Proverbs and Jesus' parables are particularly rich in God's financial principles. Also, educate yourself about credit scores, avoiding debt, and the best ways to save for college and yes, even retirement. Those things might seem far off right now, but they'll become very important before you know it. And remember, the MoneyWise app has hundreds of great articles about managing money from a godly perspective. Get in the habit of reading one a day and sharing what you've learned with friends. The knowledge you gain will carry you well as you prepare to venture out into life on your own. On today's program we also answer the following listener questions: What do you think about downsizing your home and paying cash for a new, smaller house? I have some money with Vanguard in a 401(k). However, I want to do more Christian-friendly, ethical investing. What thoughts do you have on this? We bought a piece of land some time ago for $26,000. It's now worth about $80,000. Do we have to pay capital gains tax on this? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 We all have our favorite things in life, things that bring us joy, meaning and fulfillment. Sometimes it's nice to make a list of our favorites. This helps us recognize and appreciate them even more. Rob West recently made a list of his favorite financial things and shares it with us today. 1. Where to keep your emergency fund. Higher yield savings rates are found in online banks, not the brick and mortar types, and within that category he has three favorites: Ally, Marcus and Capital One 360 and of course, all of these are FDIC insured and right now offer around .5% on savings. Of those, Marcus tops the list because of no fees or minimum deposits, linking to other banks for same day transfers, a US based contact center to your answer questions, and a great app. 2. Teen checking accounts. It's great to use them as a tool to teach your kids to manage their money wisely. Proverbs 22:6 says, Train up a child in the way he should go; even when he is old he will not depart from it. Rob recommends a Capital One teen checking account. It has no fees or minimum balance, it offers a debit card for teens with parental locking and unlocking, and a mobile app that allows you to easily transfer birthday and allowance money into the account. 3. Rob's favorite credit card is the Fidelity Rewards Visa Signature Card. (Warning: Rob always says to pay off the balance in full every month. Otherwise, the interest you pay will easily wipe out any rewards you receive.) The Fidelity Rewards Visa Signature Card has no annual fee and it gives you 2% on every purchase. One catch -- you have to sign up to automatically deposit your cash back into one or more Fidelity accounts (such as a Fidelity 529 plan to save for college) a Roth or traditional IRA or an HSA. So you don't get to spend the 2% cash you get back; it has to go into savings and that's a pretty smart idea. 3. Digital Envelope Budgeting Systems. Rob's favorite, of course, is the MoneyWise app. It's based on the old school, tried-and-true, paper envelope system (only it's digital). Your envelope balances carry over month to month and you can only use the money in your accounts to fund those envelopes so that you stay on budget! The MoneyWise app easily keeps your transactions organized. You can split transactions between envelopes and can record memos to help you remember what you purchased. You can even run custom reports to see where you're spending the most money. Also, you can manage all of your accounts in one place and connect to over 11,000 institutions. That way, you can easily see all your accounts and have balances and transactions automatically imported. Plus, you get great financial content from a biblical perspective from contributors such as Randy Alcorn, Shaunti Feldhahn, and many more. Best of all, the MoneyWise app is free! You can download it wherever you get your apps. On today's program we also answer the following listener questions: I'm newly married and want to start our financial future well. How much should we save after bills and everything else? We're considering doing an addition to our paid-for home and are waiting six months to a year to see if construction costs will go down. What should we do? I'm trying to figure out my finances after being married for 27 years. I'm soon to be divorced. Just trying to stay in my home. What advice can you give? Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can hear past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for thelatest discussion! And remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 What's the most published and most read book in history containing more than 2300 references to money and is worth more than its weight in gold? I think you already know the answer. Of course, we're talking about the Bible. Every speck of wisdom in this world is found within its pages and we'll dive into that including a few verses sometimes overlooked from a financial perspective. John chapter 14, verse 27, Jesus says, Peace I leave with you; my peace I give to you. Not as the world gives do I give to you. Let not your hearts be troubled, neither let them be afraid.Peace to you was a common salutation among Jews in the first century A.D., and it's repeated often throughout the New Testament. Jesus means that true peace comes from knowing that we're reconciled with God through faith in Him. But what does it have to do with money?Jesus tells us that by focusing on God everything we need in this world will be added to us. But when we rely on our own power to provide, we have to be reminded constantly that God owns everything that He is our Provider not just of wealth, but even our skills and abilities to acquire it.Proverbs 12:11 tells us, Whoever works his land will have plenty of bread, but he who follows worthless pursuits lacks sense.Proverbs 14:23: In all toil there is profit, but mere talk tends only to poverty.Proverbs 12:24, The hand of the diligent will rule, while the slothful will be put to forced labor.So, we must work heartily wherever we feel God calling us and He will provide the rest. Believing that leads to contentment. Of course, we're to use our brains as well as our hands when we work. We should plan carefully in all that we set out to do whether that's earning, saving, or giving.And of course we must be totally honest in all that we do. Psalm 37 tells us, Better is the little that the righteous has than the abundance of many wicked.In Matthew 25, He talks about separating the sheep and goats on Judgment Day. Jesus says, Truly I tell you, whatever you did for one of the least of these brothers and sisters of mine, you did for me.When we care for the poor we're caring for Jesus Himself who has the power to welcome us into eternal dwellings. That's truly a wise use of worldly wealth. Here are a few questions we answered from our callers on this program: I am going to be 85 years old. I live with my daughter and son in law. I was left with a considerable amount of money in the bank. I have trusts for my children. Is it feasible to invest some of this?I am looking at buying a property. Since all house prices are up, should I wait for the housing bubble to pop?What are your thoughts on an index universal life program?My husband and I cashed out our 401K and bought property and started a business. We are reducing debt and don't keep a credit card balance. Should we put money back into a 401K or somewhere else? Ask your questions at (800) 525-7000 or email them to Questions@MoneyWise.org. Visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources like the MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion! Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 If you haven’t checked the estimated value of your home on Zillow recently, you might be pleasantly surprised by what you see. Lately, home sales have been going through the roof! A year ago, home sales fell sharply due to the Covid pandemic. Now it seems that buyers are saying, What pandemic? Mortgage expert Dale Vermillion joins us today to talk about it. Dale Vermillion is author ofNavigating the Mortgage Maze: The Simple Truth about Financing Your Homeand he’ll be discussing mortgages home sales. What’s causing this strong, upward pressure in home sales and prices? Dale said he believes it’s a combination; the pandemic, for one. People feel pent up and buying habits change. But it really comes down to just supply and demand. Inventory is short. Why is there such a low inventory of houses on the market now (which causes house prices to be higher)? People are holding onto their homes, longer. Also, new-home construction has been down. It’s been hard finding affordable land, in a lot of cases. Also, lumber costs are high right now and labor is difficult to find. Is this really a good time tosella house given the obstacles you’ll face in buying another one? Well, this depends upon the market you’re moving into. You’ve got to be very careful not to get caught in this frenzy that happening right now. So, if you’re in a house that’s too small right now, determine the necessary cost to add on to your existing home and build it the way you really want. Sometimes that’s the better option in this kind of a marketplace. You then build the equity. The current market is the same as last year regarding the rules for wisely obtaining a mortgage20% down, payments of 25% or less of your income, having a good FICO score. If you’re committed to buying a house this year, be prepared, and have all your documentation ready. What about refinancing? Is that still in play? We’re in a hot market and there are 11.1 million people who can refinance today. On today’s program we also answer your questions: I’ve reached retirement age. I have the option, through my employer, to have my retirement money as a pension payout every month. The downside is that there’s no transfer to a beneficiary after I die. The other option is to have it rolled over as a lump sum. Which is better for a lifetime income stream? Remember, you can call in to ask your questions most days at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.