Lauren Gajdek

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

IN-NETWORK? We’ll start with “in-network” versus “out-of-network” medical costs, which is something consumers really need to be aware of. Healthcare Plans generally cover out-of-network emergency room care as if it were in-network, but not visits to out-of-network doctors and other treatment.That could cost you 4 or 5 times more than in-network care. NO NETWORKWhile Christian Healthcare Ministries helps its members cover their healthcare costs, it is not an insurance company. Members are not bound to a particular network of providers. As long as their treatment is eligible for sharing under the terms of the membership, CHM will “share” the cost. That means, if you’re a member, you can go to whatever doctor or hospital you choose and keep your preferred doctor. It provides a lot more options than a traditional healthcare plan.  VERY DIFFERENTCHM is also very different in that it is a Christian ministry, which helps to provide support that is not only financial but also emotional and spiritual. They care about their members and pray for them. And members lift one another up in prayer.  OVERVIEWHere’s how it works. If you are a CHM member and share your medical bills, you will send your bills to Christian Healthcare Ministries. CHM will then work with your healthcare providers to see if they can get discounts on those bills, and then they will “share” those bills in accordance with the membership terms and send a check to you, the patient, to cover those bills. Over more than 40 years, CHM has shared nearly $10 billion dollars in medical costs.Learn more about Christian Healthcare Ministries at <a href="https://www.chministries.org/" rel="nofollow" target="_blank">CHMinistries.org</a>. On today’s program, Rob also answers listener questions: <ul><li>What happens if a spouse passes away without a will? </li><li>If you put money into a trust, is there a way to get it back out if a financial need arises? </li><li>If you have the option of a traditional 401k or a Roth 401k, which one should you choose? </li><li>What is the best kind of educational account to open on behalf of grandchildren? </li><li>What’s the best way to close a credit account you’re not using? </li></ul> Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a>where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">and give </a> as we expand our outreach.

Healthcare Freedom of Choice With Lauren Gajdek

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

MONEY ISN’T THE PROBLEMAsk any couple what causes the most stress in their marriage, and they’ll probably say “money”.  However, the problem isn’t usually money itself – or even lack of money.  No, financial tension in a marriage more often springs from bad attitudes, unrealistic expectations, and wrong assumptions about how to handle money.Part of the problem is that everything has a money angle. Most of our plans, desires, hopes, and dreams involve some kind of financial activity.  That means you’re constantly facing emotional questions about how to spend, save, borrow, earn and give your money. And chances are, you and your spouse don’t always agree about those things.On top of that, you have personality differences.  Maybe he’s a saver, she’s a spender, or she loves yard sales, he prefers buying new, or he wants to borrow to buy a car now, while she wants to wait to pay cash.  All this disagreement can stem from childhood experiences, long-standing expectations, or even misunderstandings about how finances really work. Put it all together, and it's a recipe for conflict.If you’re married, you surely know what we’re talking about!There’s another factor at work here, in the matter of money and marriage. As we’ve said so often, our attitudes and actions relating to money are an indication of what’s in our hearts.  Sinful attitudes like greed, selfishness, anger, and resentment can affect how you feel about money, and how you relate to your spouse about the family finances.Let us offer four recommendations that we hope will change the way you relate to your spouse about money.First, remember why God brought you together.  Christian marriage is a testimony to the world of the love of Christ for his church.  It’s meant to be a picture of peace and godly unity. Christian marriage is also an opportunity for spiritual growth. Proverbs 27:17 puts it this way: As iron sharpens iron, so one person sharpens another.Being sharpened by your spouse in the area of finances can be uncomfortable, but it’s worth the effort to work things out.  That brings up our second recommendation. Communicate. If you’re out of sync about money matters in your household, it’s time for a heart-to-heart talk about money.In Ephesians 4:2-3, Paul writes, “Be completely humble and gentle; be patient, bearing with one another in love. Make every effort to keep the unity of the Spirit through the bond of peace.” HOW TO COME TOGETHER ON MONEYHere’s how you do that: Set aside some uninterrupted time together. Confess your fear, selfishness, and resentment about money to the Lord and to each other. Ask Jesus to be Lord of your financial life. Ask him to help you work towards unity in the area of money management. Commit to love each other in this area, the way you promised to do on your wedding day.Above all, be patient with each other.  These are very personal issues, but your relationship is more important. Make it a point to look for compromises and middle ground.  If you’re a spender and your spouse would rather save every penny, create a plan that allows for a bit of both.That brings us to our third recommendation for financial peace in marriage. Make a budget together.  Your spending plan can allow each personality a little leeway – and a plan made now will take the pressure off both of you later when you’re making financial decisions.If you’ve been keeping your finances separate, now is the time to bring them together. Separate finances are a dangerous step towards dis-unity in your marriage.Many couples think separate finances will help them avoid fighting about their differences. But the fact is, this isn’t “his money” and “her money”.  It’s not even your money together.  It’s God’s money.We’ll close today with a passage on love that’s so familiar, from 1 Corinthians.  It’s the ultimate answer to financial conflict in marriage.“Love is patient, love is kind. It does not envy, it does not boast, it is not proud. It does not dishonor others, it is not self-seeking, it is not easily angered, it keeps no record of wrongs.” On today’s program, Rob also answers listener questions: <ul><li>Is whole life insurance a wise investment for a couple around 30 years of age? </li><li>If you have a small business, should you be tithing on your business revenue or just your personal income? </li><li>What is the best approach for someone nearing retirement age without having enough in savings and investment accounts to fund retirement? </li><li>How do you choose the right 401k option for your needs?</li><li>What is the likelihood of a recession this year? </li></ul> RESOURCES MENTIONED:<ul><li><a href="https://www.policygenius.com/" rel="nofollow" target="_blank">Policy Genius</a> </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a>where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">and give </a> as we expand our outreach.

Managing Money Tensions in Marriage

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

What’s Your Relationship Status With God?Most people would say their most important relationship is with their spouse, or children, or perhaps a friend. And they’d be wrong. Those relationships are important— we need them— but they don’t carry eternal significance like your relationship with God. Today we’ll give you some practical ways to strengthen that relationship. This is a program about money, and you may be wondering what money has to do with our relationship with God. That’s a fair question and the answer is … a lot!And the Bible gives us three dots to make that connection.FIRST: God created everything and therefore He owns everything. Colossians 1:16 says, “For by him all things were created, in heaven and on earth, visible and invisible, whether thrones or dominions or rulers or authorities—all things were created through him and for him.”SECOND: God gave us everything we possess. Deuteronomy 10:14 reads, “Behold, to the Lord your God belong heaven and the heaven of heavens, the earth with all that is in it.” So God owns everything, but He’s given us resources to use temporarily as his stewards.THIRD: God is not distant and detached. He wants a close relationship with you. James 4:8 tells us, “Draw near to God, and he will draw near to you.”We draw near to God by being obedient and following His law. With over 2,300 verses in Scripture about money and possessions, God has made his desire quite clear. He wants us to manage money according to His principles.Our friend Howard Dayton points out that wisely managing money and the other resources God blesses us with deepens our fellowship with Christ. Having a close relationship with Jesus is another way to describe what the Bible calls “true riches.”In Luke 16:11, Jesus indicates that God uses money as a test. He says, “If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches?”Jesus is saying that how you handle money affects your spiritual life. If you manage it well according to biblical principles, you’ll naturally grow closer to Him. If not, your fellowship with Him suffers.So biblical money management is a very practical way to improve your spiritual life, but sometimes things get in the way of that. There are two kinds of disobedience that keep us from handling money God’s way and growing closer to Him.The first is passive. It’s just laziness. Some people don’t want to take the time to organize their finances, make a budget, and track their spending. Doing those things might only take a few hours a month. Still, it’s just too much to bother with. As a result, intimacy with God suffers.If you don’t have a spending plan, we urge you to download the <a href="https://www.faithfi.com/manage" rel="nofollow" target="_blank">FaithFi app</a>. It provides three options for setting up a budget quickly and easily and then tracking your spending. So that’s the first form of disobedience: passive. Another person has a different obstacle to growing closer to God. It’s an active or willful disobedience. For that person, money and possessions compete with Christ.Jesus tells us in no uncertain terms how that will turn out. In Matthew 6:24 He says,  “No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.”Often that person thinks he can surrender every part of his life to Christ except money. He might be good at making money, paying bills on time, saving and investing, but he refuses to give Christ lordship over his finances.Maybe he stumbles over tithing or other giving to God’s Kingdom. He has the resources, but just doesn’t want to give. Again, his intimacy with Christ suffers.Finally, there’s another person who’s not following biblical financial principles but thinks her relationship with the Lord is just fine. To her we might say, “What you don’t know will hurt you.  What are you missing out on? You might think finances aren’t interfering with your relationship with God, but how would you know?If any of these people sound like you, commit your finances to the Lord in earnest prayer and then follow through managing your money and possessions His way!On today’s program, Rob also answers listener questions:<ul><li>What is the wisest way for a business owner to use recently received Employee Retention Credit funds?</li><li>If you’re married but the home mortgage is only in one spouse’s name, is it a good idea to add the other spouse to the note?</li><li>How do you determine whether it’s best to hire someone to help you manage your retirement funds? </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="faithfi.com" rel="nofollow" target="_blank">FaithFi.com</a> where you can join the FaithFi Community, and <a href="https://faithfi.netviewshop.com/jul23web" rel="nofollow" target="_blank">give</a>  as we expand our outreach.

What’s Your Relationship Status With God?

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

How Big Are Your Barns?In Luke chapter 12, Jesus shared the Parable of the Rich Fool. Jesus' message in that parable is every bit as important for us today as the day it was first told. We’ll talk about it today on Faith and Finance. Let’s start with the first part of the parable, Luke 12:16-19. That’s where Jesus says, “The land of a rich man produced plentifully, and he thought to himself, ‘What shall I do, for I have nowhere to store my crops?’And he said, ‘I will do this: I will tear down my barns and build larger ones, and there I will store all my grain and my goods. And I will say to my soul, “Soul, you have ample goods laid up for many years; relax, eat, drink, be merry.”Now, a lot of people might read that and think, “Hey, that sounds like a solid, practical solution. You’ve got too much stuff coming in. If your barns aren’t big enough, you need bigger barns! What’s wrong with that?”Well, the rich man finds out what’s wrong in the next two verses. They read, “But God said to him, ‘Fool! This night your soul is required of you, and the things you have prepared, whose will they be?’ So is the one who lays up treasure for himself and is not rich toward God.”If that theme sounds familiar to you, there’s a good reason. Charles Dickens no doubt borrowed it when he wrote A Christmas Carol. Of course there, Ebeneezer Scrooge takes on the role of the rich fool, obsessed with money and possessions. But unlike the Rich Fool, Ol’ Ebeneezer gets a second chance. And so do we.Our second chance starts with understanding what “rich toward God” means. It’s an unusual phrase and God’s Word doesn’t elaborate on it, but we can get an idea of its meaning by contrast. It’s the opposite of building bigger barns or laying up earthly treasure for yourself.Being rich toward God is acknowledging that we’re made for Him, not for our own pleasure or possessions. Our abundance is in Him, not our bank accounts.“Rich toward God” means counting Him as greater riches than anything on the earth.And it means using earthly riches to show how much we value God. How do we do that? By giving generously to His Kingdom. Had the Rich Fool done that, he might have heard these words from Matthew 25:“Come, you who are blessed by my Father, inherit the kingdom prepared for you from the foundation of the world. For I was hungry and you gave me food, I was thirsty and you gave me drink, I was a stranger and you welcomed me … I was naked and you clothed me, I was sick and you visited me, I was in prison and you came to me … as you did it to one of the least of these my brothers … you did it to me.”But the Rich Fool did none of that. He thought only of himself and when he died, he left his earthly treasure behind.Now, Jesus is not saying that our works save us, but He is saying that not doing the good works we were designed for will hurt our relationship with God. Jesus is teaching that money and possessions are dangerous because they can lure us out of love for God and keep us from treasuring Him.Because of that, some might think that money is bad, but it’s not. It’s really a powerful tool that can be used for good or bad. While the proper use of money can store up treasure in heaven for you, the improper use of money can be hazardous to your spiritual health as it was in the case of the Rich Fool.The problem wasn’t that he became rich, the rich are no less godly than the poor. The problem was that the Rich Fool ceased to view God as his supreme treasure. If God had been his treasure, he might have said:“God, this is all yours. You have made my fields prosper. Show me how to express with my riches that You are my treasure and that riches are not. I already have enough. I don’t need more luxury and leisure.Had he said that, the Rich Man wouldn’t have been a fool at all. He would have been a very wise man who was rich toward God. He would have discovered that— as Jesus is quoted in Acts 20:35— “It is more blessed to give than to receive.”The Rich Fool learned that the hard way, but we don’t have to. We can learn from his mistake and strive to be rich toward God.On today’s program, Rob also answers listener questions: <ul><li>If someone else is paying a home mortgage, but the house is in your name, what’s the best way to remove yourself from the equation and put the home in their name?</li><li>When is it appropriate to move away from conservative investments like bonds and invest a little more aggressively? </li><li>Is it wise to open several new accounts in the name of a trust? </li><li>What financing options should you consider when buying a business franchise? </li><li>How do you determine what to do with a 401k established with a company you no longer work for?</li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="faithfi.com" rel="nofollow" target="_blank">FaithFi.com</a> where you can join the FaithFi Community, and <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">give </a> as we expand our outreach.

How Big Are Your Barns?

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

What You’ll Need To RetireFolks always ask us, “How much will I need to retire?” And the answer is, “It depends.”  One important piece of the retirement puzzle is, “How much are you willing and able to cut from your budget?” We’ll talk about that today on Faith and Finance. Many of the expenses associated with work go away when you retire. Because of this, many experts say you’ll generally only need 75-80% of your working income when you retire.The problem is, many studies show the average retirement budget is only about 60% of working income. So if you’re working and making, let’s say $75,000 a year, you’ll need at least 75% of that, or a little over $56,000, in retirement.But if you’re on track to generate only 60% of your working budget from Social Security benefits and income from your investments, you’ll be short $11,250 a year — or about $940 a month.That means you’ll have to work longer to build more savings that generate more retirement income, or continue to work part-time to make up that $940 monthly shortfall. That is unless you’re able to cut your retirement expenses enough to close that $940 gap or at least make it smaller. Now, how do you do that?Let’s start with the one that’s probably the most obvious. It’s the big house you raised your family in, but which is now largely empty. Do you really need all that room? Now might be a great time to downsize into something smaller. Besides lowering your maintenance costs, utility bills, and taxes, downsizing should leave you with cash left over that you can convert into an income stream, getting you closer to your retirement needs.As long as you’ve lived in the home for two out of the last five years, you can exempt the first $250,000 in capital gains on the sale of your home — or $500,000 for married couples.Now, the next biggest way to cut your retirement budget is with transportation. If neither you or your spouse is working, do you really need two vehicles? Could you sell one of those cards and pocket more cash? You would also save on vehicle-related costs. Now, let’s look at insurance next, and specifically, disability and life. First off, disability insurance is designed to replace lost income when you’re recovering from an injury and illness and not able to work.Obviously, if you’re retired and not working, you have no working income to replace and therefore you have no need for disability insurance. Yet some people still carry it. Drop it the day you retire.Now, what about life insurance in retirement? If your children are now grown up and out of the house, they’re no longer dependent on your income. So you can cut back on life insurance.Also, look at interest on a credit card balance or other consumer debt. It’s never good, but it’s downright terrible when you’re retired and trying to adjust to a smaller income. Take some of the cash you’ve freed up with the previous suggestions and pay off your credit cards as quickly as you can.On today’s program, Rob also answers listener questions:<ul><li>How do you determine if you should continue making payments on your vehicle or try to somehow get out from under the loan? </li><li>Is title lock insurance a wise purchase? </li><li>How do you figure out the right time to retire in light of your household expenses? </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="faithfi.com" rel="nofollow" target="_blank">FaithFi.com</a> where you can join the FaithFi Community, and <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">give</a>  as we expand our outreach.

What You’ll Need To Retire

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

“Bible Verses” that Aren’t Actually in the BibleWhen you want pithy quotes, check out social media.  When you want words of truth, look to the Bible. But be careful not to get those two mixed up. Some familiar sayings may sound like Bible verses, but they’re really not. Today, we’ll discuss a few fake Bible verses you’ve probably heard many times over. Of all the supposed Bible verses that aren’t actually in the Bible, here’s the most familiar one: “God won’t give you more than you can handle.”  Now, this sounds great, especially if you’re struggling with financial hardship.  Unfortunately, it’s not true.  The fact is, life is always more than we can handle without God. After all, we need His help just to take our next breath!  NO MORE THAN YOU CAN HANDLE? The idea that “God won’t give you more than you can handle” is a misreading of 1 Corinthians 10:13, which actually says, “God is faithful, and he will not let you be tempted beyond your ability, but with the temptation, he will also provide the way of escape, that you may be able to endure it.” The good news is God’s faithfulness, providing a way so we can endure temptation. That doesn’t necessarily mean we get to avoid it altogether. GOD HELPS THOSE …Here’s another popular quote.  Maybe you heard your grandma say this when you refused to do your chores, "God helps those who help themselves.” Again, it might seem like something from the Bible, but it’s not. In fact, it’s the opposite of what God’s word says, which is that our help comes from one place. Psalm 121:2 tells us, "My help comes from the LORD, the Maker of heaven and earth.” It’s not “God plus me getting the job done.”God’s help is never contingent on what you or I do.  In fact, there’s nothing we can do even to earn God’s help. But, again, the good news from the Bible is that “…God shows his love for us in that while we were still sinners, Christ died for us.” God’s help is always available, not because we do our chores, but because He loves us in spite of our brokenness.OPEN A WINDOWHave you ever had a disappointment, and someone told you, “If God closes a door, He’ll open a window”? Besides letting the bugs in, one way or another, what is that really saying? That God always resolves your problems immediately? In fact, that’s not always the case, is it? Sometimes, God closes a door and we have to wait, with the doors and the windows firmly shut. The Bible does promise that God will keep us headed in the right direction when we’re following him with all our hearts.  Psalm 32:8 says: “I will instruct you and teach you in the way you should go; I will counsel you and watch over you.” But the “way you should go” doesn’t necessarily mean God will make an escape hatch when you don’t seem to be making progress. You’ll find that God often does some of His best work as you wait, teaching you to trust Him even more. Psalm 37:7 says, “Be still before the LORD and wait patiently for him; do not fret when men succeed in their ways when they carry out their wicked schemes.”TO THINE OWN SELF …Our next quote is, “To thine own self be true.” That might sound like scripture, but it’s really from Shakespeare’s play, Hamlet, and as a piece of advice, it’s completely unbiblical.  “To thine own self be true,” suggests that all you need for success is to follow your own instincts and desires.  Unfortunately, it’s our own instincts and desires that cause us to sin.  Self-reliance is no substitute for reliance on Jesus.  He is the source of truth and the only one we can really rely on.FOLLOW YOUR HEART? That brings us to the next common saying: “Follow your heart”. First of all, here’s what Jeremiah 17:9 has to say about our hearts: “The heart is deceitful above all things, and desperately sick; who can understand it?” In light of that truth, following your heart seems like a really bad idea.<a href="https://www.biblestudytools.com/" rel="nofollow" target="_blank">Biblestudytools.com</a> puts it this way: ‘God gives us passions and desires and uses our lives to prepare us for His purposes—just as He prepared David during his time as a shepherd, soldier, and court musician. But that only works if we completely surrender our lives to His leading.IF GOD BRINGS YOU TO IT …The next “not-in-the-Bible” quote is, “If God brings you to it, he’ll lead you through it.” What’s true about this is that God never abandons us. Jesus said: “And surely I am with you always, to the very end of the age.” That’s Matthew 28:20. But does that mean God will always pull us out of difficult situations?  Not necessarily. He certainly can rescue us from pain, but sometimes he doesn’t.  Sometimes he uses trouble to help us rely on him more and ourselves less. bottom line: You can always trust his provision and rest in his peace, even in the middle of hard circumstances.On today’s program, Rob also answers listener questions:<ul><li>How do you determine the wisest way to use a cash gift?</li><li>How do you find out what your money in investment accounts is being spent on? </li><li>What can you do when a medical bill is billed incorrectly? </li><li>What’s the best way to open an investment account without going online? </li></ul>RESOURCES MENTIONED:<ul><li><a href="https://www.capitalone.com/bank/checking-accounts/online-checking-account/?06277_SE002233_Brand_360_Checking=&amp;gclid=Cj0KCQjw2eilBhCCARIsAG0Pf8uvH5CPHx-xsF9p8xjK15ADBYAOI1mC9wRLIu0AK3N5YEUz_6-zuIgaAuPvEALw_wcB&amp;gclsrc=aw.ds" rel="nofollow" target="_blank">Capital One 360 Checking</a></li><li><a href="https://www.marcus.com/us/en" rel="nofollow" target="_blank">Marcus</a></li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="faithfi.com" rel="nofollow" target="_blank">FaithFi.com</a> where you can join the FaithFi Community, and <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">give</a>  as we expand our outreach.

“Bible Verses” that Aren’t Actually in the Bible

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

Whole Life StewardshipGenesis 1:28 says, “And God said to them, ‘Be fruitful and multiply and fill the earth and subdue it, and have dominion over the fish of the sea and over the birds of the heavens and over every living thing that moves on the earth.’” That verse presents what’s often called the creation or cultural mandate … which, in turn, is the foundation of “whole life stewardship.” We’ll talk about those ideas today on Faith and Finance.THE CULTURAL MANDATESo what exactly is the cultural mandate?  It’s the very first set of orders given to man in the Garden of Eden, before the Fall. “Be fruitful, multiply, fill the earth and subdue it.”Ironically, the “cultural mandate” found in the Bible is about 180 degrees opposite of what the culture of the world is teaching and preaching today. Some view man as a blight upon the world. They would like man’s presence reduced, population limited, and the “carbon footprint” shrunk. To some, this presents a conundrum. What are we to believe? God’s Word? Or “experts” who’ve been warning us about imminent starvation for over 200 years now? Englishman Thomas Malthus first predicted it in 1798.GOD’S OWNERSHIPI think we should consult the Owner on this— and it’s not us. The Bible makes clear that as the Creator, God owns everything.1 Corinthians 10:26 teaches, “For the earth is the Lord’s, and all it contains.” Hagai 2:8— “‘The silver is Mine and the gold is Mine,’ declares the Lord of hosts.”Psalm 50:10 says, “For every beast of the forest is Mine, The cattle on a thousand hills.”And yes, God even owns us. 1 Corinthians 6:19 reads, “Or do you not know that your body is a temple of the Holy Spirit within you, whom you have from God? You are not your own.”Now, even though God owns the world and everything in it, He has given it all to man to act as His stewards, to “fill the earth and subdue it.” We also find in Psalm 115:16, “The heavens are the heavens of the Lord, But the earth He has given to the sons of men.”And in a somewhat narrower context we have Joshua 1:30, “Every place on which the sole of your foot treads, I have given it to you, just as I spoke to Moses.” There God was giving all of Canaan to the Israelites.So, God created everything, including us. He owns everything, including us, and He’s told us to subdue and have dominion over the earth, to be His stewards. Now, what exactly does that mean?WHAT IS STEWARDSHIP?This is where the concept of “whole life stewardship” comes in. God didn’t tell us to be stewards on weekends only. Our stewardship “hours of operation” are not listed in the cultural mandate. We’re to be stewards 24/7.We are to use ALL of the resources He entrusts to us wisely and in a way that glorifies God. As Larry Burkett liked to say, “Every spending decision is a spiritual decision.Finally, God did not tell us to be stewards only with our time and money, but also with our skills, talents, and interests.God created us in His image and he wired each of us in a unique way.Whatever your skills or talents, pray about ways you can begin using those more fully for Kingdom work.God has been incredibly generous with us, and He wants us to share in the joy that comes with being generous. He wants us to be “whole life stewards.” On today’s program, Rob also answers listener questions: <ul><li>What are gift annuities and when do they make sense?</li><li>Are there credit card accounts that accrue rewards that go to charities?</li><li>Is it wise to use money from your 401K to pay off your mortgage?</li><li>What is a qualified charitable distribution and how can you make use of it?</li><li>What is the wisest way to use or invest proceeds from the sale of a home?</li></ul>RESOURCES MENTIONED:<ul><li><a href="https://www.mycccu.com/faithfi/" rel="nofollow" target="_blank">Christian community credit union</a></li><li><a href="https://www.christiancreditcounselors.org/" rel="nofollow" target="_blank">Christian credit counselors</a></li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a> where you can join the FaithFi Community, and <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">give</a> as we expand our outreach.

Whole Life Stewardship

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

PRINCIPLES OF STEWARDSHIPOWNERSHIP: The first principle we must understand about stewardship is ownership. God owns everything.And Scripture is very clear about this. Psalm 24:1 and 2 reads, “The earth is the Lord's and the fullness thereof, the world and those who dwell therein, for he has founded it upon the seas and established it upon the rivers.”And in Deuteronomy 10:14, “Behold, to the Lord your God belong heaven and the heaven of heavens, the earth with all that is in it.”And finally, Psalm 50:10, “For every beast of the forest is mine, the cattle on a thousand hills.”Now that we’ve established God’s ownership, let’s look at this from another angle. If God owns everything, that means we own nothing. That’s a difficult concept to grasp because we possess a lot of stuff: a house, a car, a bank account, etc.We hold those things, but we don’t own them. God owns it all. And we are to use those resources wisely in obedience to the Lord.If we become arrogant about who’s done what, it’s good to remember that even the skills and abilities we have to acquire wealth belong to God. They’re only “on loan,” if you will, and we’re to use them to glorify Him, first and foremost, not to enrich ourselves.Deuteronomy 8:17-18 makes this clear. It reads, “Beware lest you say in your heart, ‘My power and the might of my hand have gotten me this wealth.’“You shall remember the Lord your God, for it is he who gives you power to get wealth, that he may confirm His covenant that he swore to your fathers, as it is this day.”So God owns everything. That’s the first principle of stewardship.RESPONSIBILITY: The second principle is responsibility. As stewards, we have no rights over what we temporarily possess by the Lord’s provision. But we do have a responsibility to use those resources wisely for His purposes.There’s nothing wrong with enjoying God’s provision, but we must seek the balance between that and using His resources for His purposes.This is defined in 1 Timothy 6:17, which says, “As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy. They are to do good, to be rich in good works, to be generous and ready to share.”One day,  each of us will stand before the Lord to give an account of how we used His resources, just like the servants in the Parable of the Talents.The difference is, we’ll be accountable for everything, not just money, but our time and abilities, too. Those are all resources God has given us, so we must use them wisely.How do we know where to draw the line? How to enjoy God’s provision without clinging to it and claiming it for our own? That’s something each of us must determine in quiet prayer with the Holy Spirit.Romans 8:26 reads, “Likewise the Spirit helps us in our weakness. For we do not know what to pray for as we ought, but the Spirit himself intercedes for us with groanings too deep for words.” Trust Him to tell you if you’re enjoying … or squandering … what the Lord has given you.REWARD: The third principle of stewardship is reward. We have reason enough to be good stewards because of what God’s already given us, the priceless gift of His Son for our salvation, but He promises even more blessings when we’re faithful stewards.Colossians 3 reads, “Whatever you do, work at it with all your heart, as working for the Lord, not for men, since you know that you will receive an inheritance from the Lord as a reward. It is the Lord Christ you are serving.”And of course, Jesus Himself tells us in Matthew 25, the Parable of the Talents, “Well done, good and faithful servant. You have been faithful over a little; I will set you over much. Enter into the joy of your master.”How we manage God’s provision will determine whether we hear those words someday. We all want to be declared, “good and faithful stewards.” On today’s program, Rob also answers listener questions: <ul><li>What can a young couple do to turn around their finances and credit after making poor borrowing decisions? </li><li>Would it be wise to shift money from a savings account into a CD?</li><li>How do you balance paying off your mortgage with investing for retirement? </li></ul> RESOURCES MENTIONED:<ul><li><a href="https://www.christiancreditcounselors.org/" rel="nofollow" target="_blank">Christian Credit Counselors</a></li><li><a href="https://www.bankrate.com/" rel="nofollow" target="_blank">Bankrate.com</a> </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a>where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">and give </a> as we expand our outreach.

3 Principles of Stewardship

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

Year after year, the annual survey taken for the T-I-A-A Institute Personal Finance Index shows low financial literacy for the 18-to-25 age group. A majority of these young adults consistently fail to demonstrate a working knowledge of financial concepts like budgeting, saving, insurance, and investing.Think about what this means.  Tens of thousands of young adults are going off to college or joining the workforce today without knowing how to manage their money, how to avoid overspending, or even how to build a solid financial future for themselves.These days, we have online banking and instant digital transactions.  It’s so easy to use credit and transfer money that many young people just live day to day without a plan … until they need a bailout from Mom or Dad!The fact that young adults rarely handle cash also means they no longer have a physical connection to their money.  When you don’t actually see and feel your money coming and going, you might not realize when it’s gone. This disconnect can lead to unintentional overspending and a lifetime of debt, not to mention a lack of motivation to save for the future.So, if you’re a parent of teenagers or a “Gen Z” just starting out, here are a few must-have financial skills and how to get them: MUST-HAVE FINANCIAL SKILLSThe first “skill” is actually an attitude. The Bible says God is the owner of everything, as in Psalm 24:1, “The earth is the Lord’s, and everything in it, the world, and all who live in it”. Understand that nothing really belongs to you, even you. You are a manager of God’s resources, which should change your perspective on money and material things.The number two financial skill you’ll need is planning.  “A dream without a plan is just a wish,” as they say.  And wishes won’t buy you a house. The fundamental planning tool we recommend is a budget, otherwise known as a “spending plan”.  A budget keeps track of your income, giving, and spending, and gives you a picture of your progress towards meeting your financial goals.  Download the free <a href="http://app.faithfi.com/" rel="nofollow" target="_blank">FaithFi app</a> to get one started.The next fundamental financial skill everyone needs is: work!  Maybe your dad always told you that “Money Doesn’t Grow on trees!” Annoying as that was, it’s the truth. So, start at the bottom if you have to, work hard, and develop your resume!In Colossians 3: 23 and 24, we see the key to successful work: “Whatever you do, work at it with all your heart, as working for the Lord, not for men, since you know that you will receive an inheritance from the Lord as a reward.  It is the Lord Christ you are serving.”The next skill is to open and manage a bank account. Then, make sure you develop habits of giving and saving from every paycheck. Watching your balance increase will encourage you to stick to your plan. Keeping track of your bank balance will also help you understand your limits.  You can’t spend what isn’t there.The next skill will also help you understand your limits. Learn about credit.  Don’t fall into the trap of believing that a credit card equals permission to spend all you want. Instead, keep track of your balances, pay your balances in full every month, and watch your credit score.Another basic financial skill you’ll need is to understand investing, including types of investments, risk, and return. Check out the great information at <a href="https://soundmindinvesting.org/" rel="nofollow" target="_blank">SoundMindinvesting.org</a>.Finally, admit you don’t know it all and learn where to go for solid financial advice. As it says in Proverbs 15:22: Without counsel plans fail, but with many advisers, they succeed. Visit <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">faithfi.com</a> and click on the “<a href="https://www.faithfi.com/community" rel="nofollow" target="_blank">Community</a>” tab to chat online about your money questions.  Or, ask someone you trust, who knows about finances, to help you.Now more than ever, young adults need financial skills to succeed in the “real world”.  Our challenge to our bright and hopeful “Gen Z” generation is to pursue a firm faith and financial literacy.   On today’s program, Rob also answers listener questions: <ul><li>Is an annuity a good option for retirement saving</li><li>How should someone determine whether to sell the family home after a divorce?</li><li>How does one go about buying a parent’s home that is currently in an irrevocable trust? </li><li>Is it wise to borrow against your existing home to purchase a vacation home? </li><li>Is there a way to seek loan forgiveness for a “Parent Plus” loan? </li></ul> RESOURCES MENTIONED:<ul><li><a href="https://www.zillow.com/" rel="nofollow" target="_blank">Zillow.com</a> </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a>where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">and give </a> as we expand our outreach.

Must-Have Financial Skills for Young Adults

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

We often receive questions like this one: “I’ve cosigned on a car loan for my nephew and he’s not making the payments. What can I do?”It’s sad because the only reason someone would cosign a loan is to help someone else.  And far too often, it doesn’t end well. At least one survey shows that if you cosign, you have a 40% chance of having to pay the loan yourself because the primary signer either can’t or won’t make the payments.And if that’s not bad enough, it’s usually a family member or friend who’ll leave you holding the bag, damaging your relationship as well your finances.Now, the best way to keep that from happening is to simply not do it. Remember the Ben Franklin quote, “An ounce of prevention is worth a pound of cure?”  He was actually talking about fire safety at the time, but the concept certainly applies to co-signing today, which could “burn down” your finances. The best way to get out of it is to never get into it.By the way, it seems Mr. Franklin actually borrowed that “ounce of prevention” idea from Proverbs 22:30 which reads, “The prudent see danger and take refuge, but the simple keep going and pay the penalty.”The Bible actually has a lot to say specifically about cosigning — and for good reason. Christians are often confused about cosigning. The Bible tells us to care for our family and neighbors and to help those who can’t help themselves. Wouldn’t that include helping someone get a loan?The Bible says no,  and it leaves no room for misinterpretation. It warns us over and over not to do it.Proverbs 11:15 says not to pledge “surety” for another, meaning don’t co-sign a loan for another who doesn’t qualify on his own.And Proverbs 17:18 reads, “One who lacks sense gives a pledge and puts up security in the presence of his neighbor.”Then in Proverbs 22:26-27 we find, “Be not one of those who give pledges, who puts up security for debts. If you have nothing with which to pay, why should your bed be taken from under you?”We mentioned that four in 10 people who cosign get stuck paying off the loan. But studies also show that nearly a third suffer damage to their credit, and a quarter say the experience damaged their relationship with the primary signer. Proverbs isn’t one of the “Wisdom Books” for nothing.Okay, by now you’re convinced never to cosign. But what if you’ve already done it? What can you do about it?The thing you have to remember is that as a co-signer, you’re just as responsible for the loan as the primary signer. If that person can’t or won’t make the payments, there’s no way you can walk away from it without severely damaging your credit. The loan must be satisfied.First, try refinancing. Your legal responsibility to repay the loan goes away if the other person refinances without you. If you or the other person has been making payments for some time, the outstanding balance should now be lower than the original amount. That could allow the primary signer to qualify without you.Next, you can try speeding up the loan payments by offering an incentive to the primary signer. Offer to match any payments he or she makes. You might still end up paying half the loan, but that’s better than the whole thing and it will keep the account in good standing.Now, if the loan was for an automobile, you can ask the primary signer to sign the title over to you and you take possession. Then you’ll at least have use of the vehicle while you’re paying it off. You can also then sell it at some point and recoup part of your loss.Finally, you can try doing a credit “makeover” on the primary signer. Help them get on a budget, teach them the importance of paying bills on time, saving, and being responsible. Eventually, they’ll be able to refinance to get you out of the loan. It’s an approach that will have long-lasting, beneficial results.Okay, those are some things you can do if you’ve cosigned a loan and you’re stuck making payments. We hope you find them useful. On today’s program, Rob also answers listener questions: <ul><li>How long should you wait between opening credit card accounts if you’re opening multiple accounts? </li><li>If you take a loan from your 401k but change your mind, can you return the money without penalty? </li><li>How do you determine when to begin drawing Social Security benefits? </li><li>How can someone go about determining the value of collected coins and then reselling those coins? </li><li>What are the tax implications of the sale of real estate that belonged to a now-deceased parent? </li><li>Is it unwise to use a credit card under any circumstances whatsoever? </li></ul> RESOURCES MENTIONED:<ul><li><a href="https://www.ngccoin.com/" rel="nofollow" target="_blank">NGCcoin.com</a></li><li><a href="https://www.pcgs.com/" rel="nofollow" target="_blank">PCGS.com</a></li></ul> Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a>where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">and give </a> as we expand our outreach.

What To Expect If You Cosign

Faith  &amp; Finance is a daily radio ministry of FaithFi, hosted by Rob West. The program offers a practical, biblical and good-natured approach to managing your time, talents, and resources.

Mark Biller

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

Mark Biller is executive editor at <a href="https://soundmindinvesting.com/" rel="nofollow" target="_blank">Sound Mind Investing</a>, where he and his team take complicated investing concepts and simplify TWO EASY QUESTIONS: Those two easy key questions are: “How often should I invest?,” and “How much should I invest?” A simple way to make those decisions is to use a “formula” approach that eliminates inconsistency and guesswork.The best-known formula for answering the how much and how often questions is called “dollar-cost averaging” — or “DCA” for short. The key to dollar cost averaging is simply (1) invest the same amount of money (2) at regular time intervals.That simple framework is easy to follow and it’s essentially what millions of people do every month via their 401k or other workplace retirement plans. For example, you might choose to invest “$800 a month” or “$400 per pay period.” The important thing is to pick an amount you can stick with faithfully.And sticking with it faithfully means you have to do this for a long period of time— five years at the very least— so you have time to ride out an extended bear market. The beauty of DCA is that it frees you from worrying about whether you’re buying stocks at the “wrong” time. Because your dollar amount remains constant, you’ll get more shares for your money when stock prices fall and fewer shares when prices rise. In effect, you’ll buy more shares at “bargain prices” and fewer at what might be considered high prices. Of course, you won’t know that at the time. It’s only obvious when stocks are “on sale” or overpriced when you look back in hindsight. TIME TO GET OUT? With uncertainty surrounding the markets these days, folks often ask us if now is a good time to get out of the market and go to cash or precious metals instead of market-based investing. Sound Mind Investing is one of the increasingly rare firms that still takes defensive measures and shifts money to cash when they think the risk of a particularly severe bear market is high enough. They did that early in 2022 and it helped them last year, although now they’ve been lagging in 2023 as the market has bounced back. Obviously, they wouldn’t do that if they didn’t think it was worthwhile over the long term.BUT … if you’re trying to do this on your own, you absolutely shouldn’t be moving in and out of the market! And that’s doubly true if you’re doing this on your own and have a long time horizon of 10 years or more. It’s just way too hard to get those signals correct.Experts at SMI have studied this for years and watched it like a hawk all day, every day, and even they don’t always get it right. There’s a reason there are millions of retirees and near-retirees with large 401k balances, despite not knowing much of anything about investing. It’s because they invested regularly, every pay period, and let those 401k balances compound year after year, through good markets and bad. EMOTIONAL INVESTMENT DECISIONS ARE DANGEROUSWithout a mechanical system like this, most investors only work up the courage to invest after stock prices have risen sharply. Then, when prices plunge, they become fearful and sell after they’re already down. In other words, investor emotions cause them to “buy high and sell low,” which is the exact opposite of what you want to do.Dollar-cost averaging steers you around those pitfalls, as long as you stick with it and keep following the discipline regardless of what the market is doing at the time. IS THERE A DOWNSIDE TO DOLLAR-COST-AVERAGING?DCA is not without its imperfections, and the biggest one is that it doesn’t protect you against losses. You will still suffer temporary setbacks from a bear market. And that’s largely why this is a LONG-TERM investment strategy. Again, you want a minimum of a 5-year investing time horizon, but preferably, a decade or longer. When you’re investing for the long-term, this kind of “set it and forget it” system to accumulate a nest egg is pretty hard to beat. But that calculus changes a bit as a person gets older and has more to lose. And that’s why SMI does some other things in terms of bear market protection. INVESTING A LUMP SUMA second criticism of DCA relates specifically to a person who has a lump sum of money to invest. In that case, the math usually shows that investing it all at once is the best approach, rather than dollar cost averaging it into the market over time.But there are two things to understand about that situation:First, most people don’t have a lump sum, they’re investing bit by bit. So this criticism doesn’t even apply to the typical 401k investor.Second, even though the math says put all of the money in the market right away, emotionally, it’s way easier for people to divide up a lump sum and invest it in pieces over time. If it comes down to dividing a lump sum into pieces and investing one-sixth of that each month over six months vs. being paralyzed by fear and not investing any of it for six months, the dollar cost averaging approach is the hands-down winner!In the real world, investing smaller amounts over time makes it easier for investors to overcome their fears and continue to put their money at risk even at times of market weakness. That said, it’s good to know that the research shows it’s better to get the money invested sooner, so you can work toward doing it as quickly as possible. IN SUMMARYDCA is simply systematically investing a fixed amount of money regularly, and because of that, it has these benefits:It eliminates the “Is this a good time to buy?” question. If you’re dollar-cost averaging, every month is a good time to invest!It imposes a discipline — a “forced saving” structure that you can think of as making “installment payments” on your future financial security.Dollar-cost-averaging helps you to buy more fund shares when prices are low and fewer when prices are high, so your average price over time is likely to be lower than other methods of buying.Finally, it “automates” your investing, which helps eliminate the chance that you’ll forget to invest, or worse, be scared out of investing by current events and news.DCA is tailor-made for 401ks, 403bs or IRAs. In all three cases, you can automate your contributions and really should do that to make this work most effectively.Bottom line, it’s a great illustration of Proverbs 21:5, “Steady plodding brings prosperity”.If you’d like to read more on this topic, read the article, “<a href="https://soundmindinvesting.com/articles/taking-the-guesswork-out-of-when-and-how-much-to-invest" rel="nofollow" target="_blank">Taking the Guesswork Out of When and How Much to Invest</a>” at <a href="http://SoundMindInvesting.org" rel="nofollow" target="_blank">SoundMindInvesting.org</a>.  On today’s program, Rob also answers listener questions: <ul><li>Is it wise to take advantage of “bonus” rewards offered by credit cards for spending more within a certain period of time? </li><li>How do you choose the best bank with which to open a savings account? </li><li>Does it make sense to pay a medical bill off now in cash to take advantage of a discount, even if that puts a strain on your finances overall in the short term? </li></ul> RESOURCES MENTIONED:<ul><li><a href="https://www.bankrate.com/" rel="nofollow" target="_blank">BankRate.com</a> </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a>where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">and give </a> as we expand our outreach.

When and How Much to Invest With Mark Biller

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

Before we get into the specific money wasters, there’s a general principle you should be aware of: If you’re buying things that provide only a temporary sense of satisfaction, you’re probably wasting money. If it’s not a necessity and you grow bored with it, it was a waste of money. Check your closets for examples.Now, we’re not saying you should take a “vow of poverty.” The Lord wants us to enjoy the resources He’s given us. But that must be tempered by the principle that we’re merely stewards and we need to use His resources wisely.But, of course, we live in a culture that promotes spending. It’s a big problem. One survey showed that the average adult spends around $1,500 a month on non-essentials. No wonder so many Americans are living paycheck to paycheck. Imagine what that kind of money would do if it were put into savings or invested for retirement. 6 MONEY WASTERS1. Not preparing your own meals. The first money waster is one of the biggest, but it’s also one of the easiest to fix.. It’s okay to eat out occasionally, but too often it’s just for convenience. By some estimates, a restaurant-prepared meal will cost you three times what you would pay for the same meal cooked at home.2. Upgrading your smartphone as soon as a new one comes out. For example, the iPhone 14 could cost you as much as $1,600 or lock you into a long contract if your carrier provides it.Eventually, a smartphone will have to be replaced, but the longer you delay the upgrade, the more money you keep in your pocket. This year’s red hot phone is next year’s discount model.3. Overspending on clothing. Wearing the latest fashion is expensive. By some estimates, the average American spends nearly $2,000 a year on clothing. Clothes do wear out and need to be replaced, so you must include that in your budget, but those spending decisions should be practical.4. Buying lottery tickets. The ads say “You can’t win if you don’t play,” but that’s nonsense. You definitely will win if you don’t play. You’ll get to keep your money. You have better odds of being hit by lightning twice than winning the lottery.Plus, you don’t want to participate in something that disproportionately hurts the poor. A Bankrate report found that low-income households spend as much as 13% of their income on lottery tickets.  That’s far more than higher-income earners.5. Extended warranties. Extended warranties are now a $40 billion-a-year industry, and it’s really just an expensive form of insurance that you probably won’t need.Instead of buying an extended warranty, do your homework to make sure you’re buying a quality item to begin with. Most will have an adequate manufacturer’s warranty anyway. And then make sure you have enough money in your emergency fund to cover any repairs you might need to make.6. Cable and streaming packages. If you’re still paying for cable, it could be as much as $200 a month for Internet and TV. Do you really need 568 channels?More and more folks are dropping cable and satellite TV and using only streaming apps, but even there, you can waste a lot of money.A new survey by FinanceBuzz showed that a quarter of households have at least 3 more streaming apps than they had a year ago, and 1 in 10 reported they have no idea how much they’re spending on streaming.So keep track of what you’re watching and if you’re not getting your money’s worth from an app, drop it. That’s one great thing about streaming apps — no service contract. You can drop it any time you like.Those are your 6 big-time money wasters. We hope you find this helpful. On today’s program, Rob also answers listener questions: <ul><li>Are capital gains taxed differently from regular income? </li><li>Is title theft insurance a wise thing to buy? </li><li>Should you ask a wise parent for financial advice or turn to a completely impartial source? </li><li>If family members stay in the home of a parent with dementia, could that have ramifications for Medicare? </li></ul> Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a>where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">and give </a> as we expand our outreach.

6 Big Time Money Wasters

Shaunti Feldhahn

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

Shaunti Feldhahn is a relationship expert and the author of several very helpful books about marriage, including <a href="https://www.amazon.com/Thriving-Love-Money-Game-Changing-Relationship/dp/076423255X" rel="nofollow" target="_blank">Thriving in Love and Money</a>.There’s a saying about marriage: “When money troubles come in the door, love goes out the window.” But Shaunti has 3 steps for couples to keep that from happening.  3 STEPS TO ERASE TO AVOID FINANCIAL TENSION IN YOUR MARRIAGE1. ENSURE MARGIN: Make sure you have a cushion — some margin in your budget and finances. The Feldhahns conducted a three-year study involving a couple-thousand people. They found that no matter the income level, it wasn’t the topline income number that mattered. The key to avoiding tension was to spend less than they took in. This was true across all demographics. You’ve got to have a cushion to be able to make that car repair or whatever life throws your way. It’s great stewardship and helps keep you out of debt and bondage. But as it turns out, it’s not just protective of your finances, but of your relationship as well. 2. COMMUNICATE: You have to be able to talk to your spouse about money. It can't just be a one-person thing. It must be BOTH of you, and you have to be able to openly and honestly communicate about money. Communication really is the secret weapon. Most couples have trouble communicating about money. It’s a very common problem. But the Feldhahns found in their research that communication even trumps having a financial cushion or having the perfect budget. If you can talk about money, even if the technical stuff isn't perfect, you are far more likely to avoid tension and resentment. So start opening those lines of communication! It’s vital! 3. BUILD AWARENESS: You have to understand what's going on underneath the surface and how you and how your spouse respond to money. Shaunti explains that if there is tension around money in your marriage, it’s not really about the money. It’s about how money makes you feel, and how it makes your spouse feel. It’s about all of the insecurities and worries and beliefs about how money should work that are running under the surface. And we have two different sets of those. On today’s program, Rob also answers listener questions: <ul><li>What are a couple of good options for online banking?</li><li>How do you determine whether you should roll over an IRA?</li></ul> RESOURCES MENTIONED:<ul><li><a href="https://www.ally.com/" rel="nofollow" target="_blank">Ally Bank</a></li><li><a href="https://www.capitalone.com/bank/checking-accounts/online-checking-account/" rel="nofollow" target="_blank">Capital One 360 Checking</a></li><li><a href="https://www.marcus.com/us/en" rel="nofollow" target="_blank">Marcus</a></li></ul> Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a> where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">and give </a> as we expand our outreach.

3 Steps To Ease Marriage Tension With Shaunti Feldhahn

Brandon Sieben

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

Brandon Sieben is President and CEO of Compass—Finances God’s Way. According to the Federal Reserve Bank, over the past 20 years, debt levels for those in their 60s have risen by over 400%. And for those in their 70s, that debt grew by over 500%. It's a big problem. The top forms of debt among these age groups are credit cards, car loans, and home equity loans. WHAT’S THE CAUSE? The cause is not any single thing. Rather, it’s a combination of factors. First, many times there's a spending problem, meaning retirees are spending like they were before retirement, but now without the income to cover that spending. So they borrow the difference. Second, a lot of folks just aren't aware of the cost of debt and how the math works. For example, these days a credit card could be charging 20% interest, or a home equity loan could be as high as 10 to 12%. And people just really aren't aware of the cost there. And third, a lot of people are conditioned to think that's okay to borrow — no big deal. Many retirees would tell you they've always had a car payment. They’re just been conditioned to turn to lenders whenever there’s a want or need beyond their current capacity to pay for it. And the next thing you know, they're on the ropes. ADVICE FOR THOSE NEARING OR IN RETIREMENTRemember, God's pretty clear in His Word that we should avoid debt. You can see that in Romans 13 and Proverbs 22. Even Jesus tells us in Matthew six, we can't serve God and money and we’ve got to choose. But if you find yourself buried under a mountain of debt, the first step is to get on your knees and ask God for help. There’s no changing the past, but you can start managing money Biblically today!And when you become debt free, it glorifies God. Practically speaking, we find there's usually $500 to $700 a month that a retiree spends that can be cut pretty quickly. It’s not always easy. The cutbacks may include scaling back travel, going out to eat less or not at all, canceling some or all of the home tech like cable, or even cutting out some of those day-to-day creature comforts, like getting manicures, pedicures are the trips to Starbucks. If you’re overwhelmed and feel you need help digging out of debt, talk to our friends at <a href="http://christiancreditcounselors.org/" rel="nofollow" target="_blank">Christian Credit Counselors</a>. And then lastly, we encourage you to work to better understand money and how God would have you handle it. You’ll find all kinds of free resources at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a>. Learn more about Compass— Finances God’s Way at <a href="https://compass1.org/" rel="nofollow" target="_blank">Compass1.org</a>. On today’s program, Rob also answers listener questions: <ul><li>Are there any benefits to a reverse mortgage?</li><li>How can you make sure you’re not overpaying your taxes?</li><li>How do you determine the best way to invest or use a lump sum of cash?</li><li>What is the best way for a college student to invest for the future?</li><li>What can you do to dig out from under credit card debt when it seems like you’re just spinning your wheels trying to pay it off?</li></ul> RESOURCES MENTIONED:<ul><li><a href="https://www.schwab.com/intelligent-portfolios?gclid=Cj0KCQiA64GRBhCZARIsAHOLriJfLLh_oQ8g4d2jt_IHA10Jq9qXpmgrZs7egrKIDBp0VKUIC2_Qf80aApwKEALw_wcB&amp;src=SEM&amp;ef_id=Cj0KCQiA64GRBhCZARIsAHOLriJfLLh_oQ8g4d2jt_IHA10Jq9qXpmgrZs7egrKIDBp0VKUIC2_Qf80aApwKEALw_wcB:G:s&amp;s_kwcid=AL!5158!3!547096471357!e!!g!!schwab%20robo%20advisor!657672170!33393814556&amp;keywordid=kwd-88755627620" rel="nofollow" target="_blank">Schwab Intelligent Portfolios</a></li><li><a href="http://christiancreditcounselors.org/" rel="nofollow" target="_blank">Christian Credit Counselors</a></li></ul> Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a> where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">and give </a> as we expand our outreach.

Seniors in Debt With Brandon Sieben

Jerry Bowyer

Jerry Bowyer is a columnist for World News Group and our resident economist and “go-to guy” for all things economic.This is actually part 3 of a 6 part series on a Christian Economic Worldview. We’ve already talked about “The Ideal Economy” and “What Goes Wrong,” and today we’ll take a look at “Why It Goes Wrong.” MADE IN HIS IMAGEThis idea of God creating the world and man in his image is the basis on which to understand how the world of economics works. And therefore the alienation between God and man works its way through the entire system, leading to a shrinkage in production, a shrinkage in the amount of wealth created, a lack of investment, and valuations that express a large amount of risk in the stock and bond market. And we make it worse by turning to the state as a new God and this so clearly works itself out in history. WHY?Why don’t the people in charge of things see the problem and do something about it?The reason they don't see it is because they don't want to see it. And the reason they don't want to see it is that these factors that determine economic growth, the relationship of God to man, man to the earth, man to production, economics, finance and politics are based on the idea of being held together by God.God is the lynchpin of this system. He is the one in whom it coheres and since in virtually every elite center of economic life, financial life, political life, and academia has based its worldview on either taking God and pushing him out of the picture entirely or relegating him, at the very least to someplace far away from relevance to human affairs, to this world where He is a blind watchmaker perhaps or a grandfather who is looking from a distance, not intimately involved with the life of his creation. When the lynchpin is removed, everything falls apart and life doesn't make sense anymore. THE IMPACTThis has a profound effect on society.Man is no longer seen as being related to the earth. He is no longer seen as someone who is supposed to work the earth, he is seen as someone who harms the earth. And when mankind engages in the creation and tries to make it something more productive, that is seen as harmful, as a despoilization. As a violation of the pristine nature of the creation. And man is separated from production. We don't see human beings as a source of production. We don't see the emergence of new generations as a source of prosperity. We see high abortion rates or the lack of family creation as the source of prosperity.So we separate the human race from the production process. And we separate the production process therefore from economics. There's a severing, a disintegration of those cause-and-effect relationships. And we even sever consumption from investment. THE FOLLY OF KEYNESIAN ECONOMICSThe foundation of modern economics under John Maynard Keynes, the Cambridge apostle, the professor of university professor, who set his life to destroying this classical model, started with the rejection of God as foundational to his thinking and his circle of friends. And ended up denying all cause-and-effect relationships and all basic economic and fundamental principles. And came to believe what his elders had taught him. The superiority of thrift and investment was, to him, a bad thing. That money that's invested is loss to the economy and is bad for the economy. He contended that this creates economic stagnation and he called this the paradox of thrift.We shouldn't save, saving is bad, Keynes said. So consumption and investment are severed from one another. And we don't see the relationship therefore between investment and the economy. The yield curve, we don't see the relationship between investment and the credit markets. We don't see that the basis of the credit markets is that somebody says, I'm going to work and not eat what I grew today or not eat what I built today. I'm going to defer my gratification in the future. That's the basis of economic growth and that's the basis of capital markets.And Kane said, no, no, no, we don't need savings to do it. The government can print money. We can have a credit market with no risk and abundant capital without anybody actually saving. And so you have a severing of the relationship between investment and the evaluation of stocks and bonds. WHAT HAPPENS NEXT?Then along comes academic portfolio theory, the modern approach to portfolio management. And it says, in the beginning, at the very start of the emergence of this school of thought, which now dominates all of academia and most of the financial sector, the very beginning during the Nobel Prize acceptance speech given by the founder of this school is he says, I'm going to ignore production and I'm going to ignore consumption.And so how do you value assets? How do you value stock investments or bond investments in a situation like that? If you sever the cause-and-effect relationship, how are you able to say whether stocks are properly valued or improperly valued? And what happens is technical analysis and academic portfolio theory start to look at this market, the stock, and the bond market as being driven entirely by our emotions, by the emotions of the crowd, and by my emotions, your emotions in relation to the crowd.No objective reality, no cause and effect. And what this does is ignores not only the economic fundamentals, which should determine valuation. Growth is good for stocks and bonds. Inflation is bad for stocks and bonds because investments are promises to give you cash in the future. And if that cash isn't worth anything, then that's a risk to you.And so what we do is we sever the relationship between government action and investment. And so Wall Street tends to focus on stock and bond markets as being a world under themselves completely insulated from political actions or from economics.And that is the very basis of the academic dogma of modern portfolio theory. And so what do we have? When we remove God entirely from the picture or relegate Him, we end up with a fragmented worldview.When cause-and-effect relationships are erased from human consciousness and we're left with chaos, isolated, disintegrated chaos.Jerry Bowyer is the author of The Maker and the Takers: What Jesus Really Said About Social Justice and Economics. On today’s program, Rob also answers listener questions: When does it make sense to sell a rental property and use that cash toward paying for your primary residence? How do you determine the right kind of car to buy for needs that will hold its value reasonably well over time? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give  as we expand our outreach. 

Jerry Bowyer is a columnist for <a href="https://wng.org" rel="nofollow" target="_blank">World News Group</a> and our resident economist and “go-to guy” for all things economic.This is actually part 3 of a 6 part series on a Christian Economic Worldview. We’ve already talked about “The Ideal Economy” and “What Goes Wrong,” and today we’ll take a look at “Why It Goes Wrong.” MADE IN HIS IMAGEThis idea of God creating the world and man in his image is the basis on which to understand how the world of economics works. And therefore the alienation between God and man works its way through the entire system, leading to a shrinkage in production, a shrinkage in the amount of wealth created, a lack of investment, and valuations that express a large amount of risk in the stock and bond market. And we make it worse by turning to the state as a new God and this so clearly works itself out in history. WHY?Why don’t the people in charge of things see the problem and do something about it?The reason they don't see it is because they don't want to see it. And the reason they don't want to see it is that these factors that determine economic growth, the relationship of God to man, man to the earth, man to production, economics, finance and politics are based on the idea of being held together by God.God is the lynchpin of this system. He is the one in whom it coheres and since in virtually every elite center of economic life, financial life, political life, and academia has based its worldview on either taking God and pushing him out of the picture entirely or relegating him, at the very least to someplace far away from relevance to human affairs, to this world where He is a blind watchmaker perhaps or a grandfather who is looking from a distance, not intimately involved with the life of his creation. When the lynchpin is removed, everything falls apart and life doesn't make sense anymore. THE IMPACTThis has a profound effect on society.Man is no longer seen as being related to the earth. He is no longer seen as someone who is supposed to work the earth, he is seen as someone who harms the earth. And when mankind engages in the creation and tries to make it something more productive, that is seen as harmful, as a despoilization. As a violation of the pristine nature of the creation. And man is separated from production. We don't see human beings as a source of production. We don't see the emergence of new generations as a source of prosperity. We see high abortion rates or the lack of family creation as the source of prosperity.So we separate the human race from the production process. And we separate the production process therefore from economics. There's a severing, a disintegration of those cause-and-effect relationships. And we even sever consumption from investment. THE FOLLY OF KEYNESIAN ECONOMICSThe foundation of modern economics under John Maynard Keynes, the Cambridge apostle, the professor of university professor, who set his life to destroying this classical model, started with the rejection of God as foundational to his thinking and his circle of friends. And ended up denying all cause-and-effect relationships and all basic economic and fundamental principles. And came to believe what his elders had taught him. The superiority of thrift and investment was, to him, a bad thing. That money that's invested is loss to the economy and is bad for the economy. He contended that this creates economic stagnation and he called this the paradox of thrift.We shouldn't save, saving is bad, Keynes said. So consumption and investment are severed from one another. And we don't see the relationship therefore between investment and the economy. The yield curve, we don't see the relationship between investment and the credit markets. We don't see that the basis of the credit markets is that somebody says, I'm going to work and not eat what I grew today or not eat what I built today. I'm going to defer my gratification in the future. That's the basis of economic growth and that's the basis of capital markets.And Kane said, no, no, no, we don't need savings to do it. The government can print money. We can have a credit market with no risk and abundant capital without anybody actually saving. And so you have a severing of the relationship between investment and the evaluation of stocks and bonds. WHAT HAPPENS NEXT?Then along comes academic portfolio theory, the modern approach to portfolio management. And it says, in the beginning, at the very start of the emergence of this school of thought, which now dominates all of academia and most of the financial sector, the very beginning during the Nobel Prize acceptance speech given by the founder of this school is he says, I'm going to ignore production and I'm going to ignore consumption.And so how do you value assets? How do you value stock investments or bond investments in a situation like that? If you sever the cause-and-effect relationship, how are you able to say whether stocks are properly valued or improperly valued? And what happens is technical analysis and academic portfolio theory start to look at this market, the stock, and the bond market as being driven entirely by our emotions, by the emotions of the crowd, and by my emotions, your emotions in relation to the crowd.No objective reality, no cause and effect. And what this does is ignores not only the economic fundamentals, which should determine valuation. Growth is good for stocks and bonds. Inflation is bad for stocks and bonds because investments are promises to give you cash in the future. And if that cash isn't worth anything, then that's a risk to you.And so what we do is we sever the relationship between government action and investment. And so Wall Street tends to focus on stock and bond markets as being a world under themselves completely insulated from political actions or from economics.And that is the very basis of the academic dogma of modern portfolio theory. And so what do we have? When we remove God entirely from the picture or relegate Him, we end up with a fragmented worldview.When cause-and-effect relationships are erased from human consciousness and we're left with chaos, isolated, disintegrated chaos.Jerry Bowyer is the author of <a href="https://www.amazon.com/Maker-Versus-Takers-Justice-Economics/dp/1642933708" rel="nofollow" target="_blank">The Maker and the Takers: What Jesus Really Said About Social Justice and Economics.</a> On today’s program, Rob also answers listener questions: <ul><li>When does it make sense to sell a rental property and use that cash toward paying for your primary residence? </li><li>How do you determine the right kind of car to buy for needs that will hold its value reasonably well over time?</li></ul> Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a> where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">and give </a> as we expand our outreach.

Why It Goes Wrong With Jerry Bowyer

Someone who’s frugal saves their money, spends less than they earn, and is economical in their financial choices. Maybe that’s you. Or maybe you’re married to someone who’s a conscientious penny-pincher.Being frugal can demonstrate virtues like self-control and patience. And of course, we’ve all heard Benjamin Franklin’s quote, “A penny saved is a penny earned.” Here at Faith and Finance, we do recommend saving for the future, paying down your debts, and avoiding overspending.But there is a difference between just being frugal, and the financial stewardship we talk about on this program.MORE THAN FRUGALITYFrugality on its own is not the answer to financial peace. From a biblical perspective, we aren’t the owners of our money and possessions; God is. “For the earth is the Lord’s and everything in it”, as it says in Psalm 24. Acknowledging the Lordship of Christ over our finances puts the emphasis on the heart, not the balance sheet.Here's what Jesus said about this in Matthew 6: “Do not lay up for yourselves treasures upon earth, where moth and rust destroy, and where thieves break in and steal. But lay up for yourselves treasures in heaven…for where your treasure is, there will your heart be also.”But the eternal benefits Jesus talks about are different. They come when you surrender all your needs and desires to God, accepting your role as a steward, or caretaker of his blessings. It’s really a matter of perspective: Frugality can be a part of stewardship or, by itself, can become a source of selfishness, greed, and pride.HOW CAN YOU TELL?How can you tell if you’ve gone from solid stewardship to frugal foolishness? Here are some of the signs:Do you spend hours being frugal every week? Maybe you’re into clipping coupons, driving around to get the best gas prices, or searching the Internet for deals on necessities. In other words, has frugality become an obsession?Do you go without things you need just to save money? Maybe you’re like the person who sleeps on the floor just to avoid spending money on a bed. Another warning sign is hoarding. You buy items when the price is low, ending up with closets full of toothpaste or toilet paper. Or you refuse to throw things away, thinking you might use them later. This can be a warning sign for lack of trust in God’s provision.If you think about frugality as a competition or feel pressured to do it, you may have the wrong attitude. And if spending any money at all stresses you out, that’s an indication that you’re missing out on God’s peace.A final sign that you might be taking frugality too far, is if you resent having to give or share anything, even if it’s just a potluck supper or a church fundraiser. The fact is, God calls us to be generous. If penny-pinching kills your generosity, you’re missing out on God’s blessings. Hebrews 13:16 reminds us, “Do not neglect to do good and to share what you have, for such sacrifices are pleasing to God.”As with every kind of behavior, there’s always an underlying mindset that triggers our actions. We’ve found that, in most cases, overdoing it on frugality springs from a lack of balance. It’s okay to clip coupons, for example, just don’t spend ten hours a week doing it. Your time is valuable, too.Paying attention to the basic health and well-being of yourself and your family is more important than shaving a few dollars off the power bill or grocery costs. And, while there’s nothing inherently wrong with spending money, there are more important things in life than money. Generosity towards others, for example, can bring joy that far outweighs a few extra dollars in the bank.So, if you find that your frugality is looking more like foolishness, it’s time to restore the balance. Jesus has the answer for you. “…Seek first God’s kingdom and His righteousness; and all these things [things you really need] will be added to you.”Biblically speaking, stewardship has a larger purpose than frugality. It is to further God’s Kingdom work here on Earth until Jesus comes back. Stewardship also has a spiritual purpose in our own lives: the way we handle our material possessions is a response to what God has done for us.It’s an outward expression of our gratitude for His love and goodness and provision.Ultimately, stewardship allows us to turn around and give back to others, spreading the blessings we’ve been given, and the Good News of Jesus Christ.On today’s program, Rob also answers listener questions:What are a few good online saving account options to earn better interest rates than in most brick-and-mortar banks?How much should you invest for retirement alongside an employer’s retirement matching funds?Would taking a lump sum pension payment affect Social Security benefits?What’s the best way to liquidate gold and silver?What can you do to take care of the financial assets of a parent who is no longer capable of managing their own affairs?RESOURCES MENTIONED:Ally BankCapital One 360 CheckingMarcusFind a Certified Kingdom AdvisorRemember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give  as we expand our outreach. 

Someone who’s frugal saves their money, spends less than they earn, and is economical in their financial choices. Maybe that’s you. Or maybe you’re married to someone who’s a conscientious penny-pincher.Being frugal can demonstrate virtues like self-control and patience. And of course, we’ve all heard Benjamin Franklin’s quote, “A penny saved is a penny earned.” Here at Faith and Finance, we do recommend saving for the future, paying down your debts, and avoiding overspending.But there is a difference between just being frugal, and the financial stewardship we talk about on this program.MORE THAN FRUGALITYFrugality on its own is not the answer to financial peace. From a biblical perspective, we aren’t the owners of our money and possessions; God is. “For the earth is the Lord’s and everything in it”, as it says in Psalm 24. Acknowledging the Lordship of Christ over our finances puts the emphasis on the heart, not the balance sheet.Here's what Jesus said about this in Matthew 6: “Do not lay up for yourselves treasures upon earth, where moth and rust destroy, and where thieves break in and steal. But lay up for yourselves treasures in heaven…for where your treasure is, there will your heart be also.”But the eternal benefits Jesus talks about are different. They come when you surrender all your needs and desires to God, accepting your role as a steward, or caretaker of his blessings. It’s really a matter of perspective: Frugality can be a part of stewardship or, by itself, can become a source of selfishness, greed, and pride.HOW CAN YOU TELL?How can you tell if you’ve gone from solid stewardship to frugal foolishness? Here are some of the signs:Do you spend hours being frugal every week? Maybe you’re into clipping coupons, driving around to get the best gas prices, or searching the Internet for deals on necessities. In other words, has frugality become an obsession?Do you go without things you need just to save money? Maybe you’re like the person who sleeps on the floor just to avoid spending money on a bed. Another warning sign is hoarding. You buy items when the price is low, ending up with closets full of toothpaste or toilet paper. Or you refuse to throw things away, thinking you might use them later. This can be a warning sign for lack of trust in God’s provision.If you think about frugality as a competition or feel pressured to do it, you may have the wrong attitude. And if spending any money at all stresses you out, that’s an indication that you’re missing out on God’s peace.A final sign that you might be taking frugality too far, is if you resent having to give or share anything, even if it’s just a potluck supper or a church fundraiser. The fact is, God calls us to be generous. If penny-pinching kills your generosity, you’re missing out on God’s blessings. Hebrews 13:16 reminds us, “Do not neglect to do good and to share what you have, for such sacrifices are pleasing to God.”As with every kind of behavior, there’s always an underlying mindset that triggers our actions. We’ve found that, in most cases, overdoing it on frugality springs from a lack of balance. It’s okay to clip coupons, for example, just don’t spend ten hours a week doing it. Your time is valuable, too.Paying attention to the basic health and well-being of yourself and your family is more important than shaving a few dollars off the power bill or grocery costs. And, while there’s nothing inherently wrong with spending money, there are more important things in life than money. Generosity towards others, for example, can bring joy that far outweighs a few extra dollars in the bank.So, if you find that your frugality is looking more like foolishness, it’s time to restore the balance. Jesus has the answer for you. “…Seek first God’s kingdom and His righteousness; and all these things [things you really need] will be added to you.”Biblically speaking, stewardship has a larger purpose than frugality. It is to further God’s Kingdom work here on Earth until Jesus comes back. Stewardship also has a spiritual purpose in our own lives: the way we handle our material possessions is a response to what God has done for us.It’s an outward expression of our gratitude for His love and goodness and provision.Ultimately, stewardship allows us to turn around and give back to others, spreading the blessings we’ve been given, and the Good News of Jesus Christ.On today’s program, Rob also answers listener questions:<ul><li>What are a few good online saving account options to earn better interest rates than in most brick-and-mortar banks?</li><li>How much should you invest for retirement alongside an employer’s retirement matching funds?</li><li>Would taking a lump sum pension payment affect Social Security benefits?</li><li>What’s the best way to liquidate gold and silver?</li><li>What can you do to take care of the financial assets of a parent who is no longer capable of managing their own affairs?</li></ul>RESOURCES MENTIONED:<ul><li><a href="https://www.ally.com/" rel="nofollow" target="_blank">Ally Bank</a></li><li><a href="https://www.capitalone.com/bank/checking-accounts/online-checking-account/?06277_SE002233_Brand_360_Checking=&amp;gclid=CjwKCAjw-7OlBhB8EiwAnoOEk7cxpqPA_pN34h9v8zHeezXak0yb3FG-l_yMzeXby-5Mwlo9xfMGeBoC5gAQAvD_BwE&amp;gclsrc=aw.ds" rel="nofollow" target="_blank">Capital One 360 Checking</a></li><li><a href="https://www.marcus.com/us/en/savings/high-yield-savings?prd=os&amp;chl=ps&amp;schl=psg&amp;cid=2016190988&amp;agp=71621311815&amp;cre=481148767424&amp;kid=marcus&amp;mtype=p&amp;adpos=&amp;gad=1&amp;gclid=CjwKCAjw-7OlBhB8EiwAnoOEk1BVA0Z1C3uWEKUYRcMpMnzwJScZmmBtwJePa7UOrwYdSevZd9xAsBoCBysQAvD_BwE&amp;gclsrc=aw.ds" rel="nofollow" target="_blank">Marcus</a></li><li><a href="https://kingdomadvisors.com/find-a-cka" rel="nofollow" target="_blank">Find a Certified Kingdom Advisor</a></li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a> where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">and give </a> as we expand our outreach.

Does Frugality = Stewardship?

Mario Zandstra

Mario Zandstra is the ​​President and CEO of Family Legacy Missions International, which is a ministry focused entirely on helping Zambia’s orphans.Family Legacy Missions helps to feed and educate many orphans each year, but right now they have a special summer program going on.This summer, FLM will have over 2,400 children come to Camp Life on the Hilltop in Lusaka Zambia. The children come from the compounds and communities in Lusaka and their caregivers make about $1.25 per day. The children's caregivers cannot afford to send their kids to school. In Lusaka alone, there are over 125,000 children who are not in school.For every child that attends, they work to impact them physically, emotionally, intellectually, and of course, spiritually, sharing the gospel with them. FLM has 22 schools and 14,000 students throughout Lusaka, Zambia. HOW CAN LISTENERS GET INVOLVED?One of the ways listeners can make a difference is by helping kids that lost their sponsors during the COVID crisis. FLM is raising funds to keep them in school. You can help, feed, clothe, educate, and minister to these children with a monthly gift. Learn more at FamilyLegacy.com. On today’s program, Rob also answers listener questions: What are the rules surrounding qualifying for a 1031 exchange?How do you determine when it’s a good time to sell your home?Is it better to do your banking with a bank or a credit union?Is gold a stable investment in an increasingly digital economy? Is it a wise idea to put money in a 401k account when you’re retired? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give  as we expand our outreach.

Mario Zandstra is the ​​President and CEO of Family Legacy Missions International, which is a ministry focused entirely on helping Zambia’s orphans.Family Legacy Missions helps to feed and educate many orphans each year, but right now they have a special summer program going on.This summer, FLM will have over 2,400 children come to Camp Life on the Hilltop in Lusaka Zambia. The children come from the compounds and communities in Lusaka and their caregivers make about $1.25 per day. The children's caregivers cannot afford to send their kids to school. In Lusaka alone, there are over 125,000 children who are not in school.For every child that attends, they work to impact them physically, emotionally, intellectually, and of course, spiritually, sharing the gospel with them. FLM has 22 schools and 14,000 students throughout Lusaka, Zambia. HOW CAN LISTENERS GET INVOLVED?One of the ways listeners can make a difference is by helping kids that lost their sponsors during the COVID crisis. FLM is raising funds to keep them in school. You can help, feed, clothe, educate, and minister to these children with a monthly gift. Learn more at <a href="https://familylegacy.com" rel="nofollow" target="_blank">FamilyLegacy.com.</a> On today’s program, Rob also answers listener questions: <ul><li>What are the rules surrounding qualifying for a 1031 exchange?</li><li>How do you determine when it’s a good time to sell your home?</li><li>Is it better to do your banking with a bank or a credit union?</li><li>Is gold a stable investment in an increasingly digital economy?</li><li> Is it a wise idea to put money in a 401k account when you’re retired?</li></ul> Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a> where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">and give </a> as we expand our outreach.

Report From Zambia With Mario Zandstra

You’ve probably heard it said that “anything worth doing is worth doing well.” Today we’ll find out why working hard at something can pay big dividends, spiritually and financially. Former U-S Secretary of State, General Colin Powell said, “There is no secret to success. It is the result of preparation, hard work, and learning from failure.”In other words, when you want to succeed in your finances, at your job, at school, or in relationships, you can’t just sit around thinking about it.  You have to take action.  Success in any area requires discipline.THE IMPORTANCE OF DISCIPLINEAthletes know this: The more reps you do in the gym, or the more miles you put in, the better you do on competition day. It’s the same with your finances. Practice discipline with your saving, spending, and giving, and you’re more likely to reach your financial goals! Here’s what Hebrews 12:11 says about discipline:No discipline seems pleasant at the time, but painful.  Later on, however, it produces a harvest of righteousness and peace for those who have been trained by it.So, the Bible confirms that discipline is an important part of a Christian’s life. And while discipline is hard, it can also be a source of joy.Let’s look at a few examples of financial disciplines, and the benefits of staying the course. Perhaps you’re determined to save a little money from your paycheck every week. That certainly requires discipline, but the benefit of consistent saving is that you feel a lot less stressed about future financial needs.Another example of a financial discipline is giving faithfully to the Lord.  When you do, you have the satisfaction of participating in His Kingdom work, and the joy of helping others.Or how about this one: It takes discipline to pay down your debts, but the benefit is, you’re making progress towards financial freedom. Think of the joy you’ll experience when you’re finally debt-free!Finally, it takes discipline to stick to a financial plan, but when you do, you’ll reap the rewards of financial peace and confidence.Knowing where each dollar is coming from and where it’s going is a key to financial stability and success. By the way, if you’re not exercising the discipline of a spending plan, we can help with that. Download the FaithFi app, or visit us on line at faithfi.com, and we’ll show you how to start your own personalized spending plan.The verse from Hebrews that we quoted earlier tells us something we already know – discipline hurts.  But discipline can also be a source of joy. Here’s why:JOY IN DISCIPLINEFirst, the results of discipline are positive.In the realm of finances, we can rejoice when our nest egg grows, when we see progress in paying off our loans, and when we see the fruits of our planning and generosity.  These happy outcomes make the hard work of saving, paying down debt, planning, and giving worthwhile.Also, when we follow God’s blueprint for stewardship and integrity in money matters, we experience peace in our financial life.One more thought about financial discipline.As hard as we try, none of us will make the right financial choices every time.  So, whether you blew your budget or missed a loan payment, it’s not the end of the world. Acknowledge your mistakes. Get help if you need it, submit your plans to the Lord, and get back on track. God has set before you certain resources to manage. And when you exercise discipline with your money and your spiritual life, you’ll experience a harvest of righteousness and peace, which is success in anyone’s book!On today’s program, Rob also answers listener questions: Do you have to make regular transactions in an online savings account to keep it openHow long should you keep financial records before discarding them?Is a reverse mortgage a good option for an elderly adult?How do you determine the best way to use the proceeds from the sale of a home?How do you remain patient and trust God to provide for your financial needs?RESOURCES MENTIONED:Christian Credit CounselorsRemember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give  as we expand our outreach. 

You’ve probably heard it said that “anything worth doing is worth doing well.” Today we’ll find out why working hard at something can pay big dividends, spiritually and financially. Former U-S Secretary of State, General Colin Powell said, “There is no secret to success. It is the result of preparation, hard work, and learning from failure.”In other words, when you want to succeed in your finances, at your job, at school, or in relationships, you can’t just sit around thinking about it.  You have to take action.  Success in any area requires discipline.THE IMPORTANCE OF DISCIPLINEAthletes know this: The more reps you do in the gym, or the more miles you put in, the better you do on competition day. It’s the same with your finances. Practice discipline with your saving, spending, and giving, and you’re more likely to reach your financial goals! Here’s what Hebrews 12:11 says about discipline:No discipline seems pleasant at the time, but painful.  Later on, however, it produces a harvest of righteousness and peace for those who have been trained by it.So, the Bible confirms that discipline is an important part of a Christian’s life. And while discipline is hard, it can also be a source of joy.Let’s look at a few examples of financial disciplines, and the benefits of staying the course. Perhaps you’re determined to save a little money from your paycheck every week. That certainly requires discipline, but the benefit of consistent saving is that you feel a lot less stressed about future financial needs.Another example of a financial discipline is giving faithfully to the Lord.  When you do, you have the satisfaction of participating in His Kingdom work, and the joy of helping others.Or how about this one: It takes discipline to pay down your debts, but the benefit is, you’re making progress towards financial freedom. Think of the joy you’ll experience when you’re finally debt-free!Finally, it takes discipline to stick to a financial plan, but when you do, you’ll reap the rewards of financial peace and confidence.Knowing where each dollar is coming from and where it’s going is a key to financial stability and success. By the way, if you’re not exercising the discipline of a spending plan, we can help with that. Download the <a href="http://app.faithfi.com" rel="nofollow" target="_blank">FaithFi app</a>, or visit us on line at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">faithfi.com</a>, and we’ll show you how to start your own personalized spending plan.The verse from Hebrews that we quoted earlier tells us something we already know – discipline hurts.  But discipline can also be a source of joy. Here’s why:JOY IN DISCIPLINEFirst, the results of discipline are <a href="http://positive.In" rel="nofollow" target="_blank">positive.In</a> the realm of finances, we can rejoice when our nest egg grows, when we see progress in paying off our loans, and when we see the fruits of our planning and generosity.  These happy outcomes make the hard work of saving, paying down debt, planning, and giving worthwhile.Also, when we follow God’s blueprint for stewardship and integrity in money matters, we experience peace in our financial life.One more thought about financial <a href="http://discipline.As" rel="nofollow" target="_blank">discipline.As</a> hard as we try, none of us will make the right financial choices every time.  So, whether you blew your budget or missed a loan payment, it’s not the end of the world. Acknowledge your mistakes. Get help if you need it, submit your plans to the Lord, and get back on track. God has set before you certain resources to manage. And when you exercise discipline with your money and your spiritual life, you’ll experience a harvest of righteousness and peace, which is success in anyone’s book!On today’s program, Rob also answers listener questions: <ul><li>Do you have to make regular transactions in an online savings account to keep it open</li><li>How long should you keep financial records before discarding them?</li><li>Is a reverse mortgage a good option for an elderly adult?</li><li>How do you determine the best way to use the proceeds from the sale of a home?</li><li>How do you remain patient and trust God to provide for your financial needs?</li></ul>RESOURCES MENTIONED:<ul><li><a href="https://www.christiancreditcounselors.org/" rel="nofollow" target="_blank">Christian Credit Counselors</a></li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a> where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">and give </a> as we expand our outreach.

Financial Discipline Brings Joy

Is it more important to give consistently — or in a way that pleases God? And can you do both? We’ll have answers to those questions today on Faith and Finance. 2 Corinthians 9:7:  “Each one must give as he has decided in his heart, not reluctantly or under compulsion, for God loves a cheerful giver.”We’d like to thank our friends at Christian Stewardship Network for a terrific article on this topic titled “Giving that God Accepts.”As Christians, we should be committed to doing things the right way. But our fallen, sinful nature often leads us astray. Not in trying to be righteous, but more often in the reason why we try to act in a righteous way. If we’re doing it to prove ourselves to God, we go astray.And it’s in giving that our attempts at righteousness perhaps most often miss their mark. Giving is tangible. It provides proof, to us at least,that we’re doing the right thing. Other righteous acts, like prayer and worship, are less concrete.  WHAT SORT OF GIVING DOES GOD ACCEPT? We can look to King David for an example of a generous giver. David likely gave billions of dollars worth of treasure to build the temple in Jerusalem. But it wasn’t the size of the construction budget that pleased God. It was the way that David gave to complete the massive project.No amount of giving can sway God one way or the other. He already owns 100% of anything we give back to His kingdom. He doesn’t need the money. What do you give to Someone who has everything? To quote David in Psalm 24:1, “The earth is the Lord's and the fullness thereof, the world and those who dwell therein.”God owns everything because He created everything. But He does want to have a relationship with us. God requires us to give a portion of what He gives us back to His Kingdom because He wants us to be a part of it.God made us in His image and He desires relationships, so He made us that way too. And that’s how we need to understand giving. David understood this and we’ll see in Psalm 51 how he acts properly.Let’s set the stage. The prophet Nathan had called out David for his adultery with Bathsheba and sending her husband Uriah off to die in battle to cover his sin. That takes place in 2 Samuel 11.Now, obviously, David sinned against Bathsheba and Uriah, but he understood that his sin was ultimately against God.Now to Psalm 51 and verse 16  where David reveals something about God that should direct us in how we give. He writes, “You do not desire a sacrifice, or I would offer one. You do not want a burnt offering.”If money could buy God’s forgiveness, David probably would have given everything, but he knew God wanted nothing material from him.David goes on to write, “The sacrifice you desire is a broken spirit. You will not reject a broken and repentant heart, O God.” That’s what God desires from us, a broken, repentant heart. And that’s what David gave Him. We must let that be the basis of all we do, including giving. On today’s program, Rob also answers listener questions: When you start withdrawing money from retirement accounts, which accounts should you withdraw from first?How can you find out if a relative who passed away had a life insurance policy?How do you determine how best to help a parent with their finances?What factors should you weigh in determining the best way to leave your assets behind for your adult children? RESOURCES MENTIONED:IRS.govFind a Certified Kingdom AdvisorNational Association of Insurance CommissionersMissingMoney.com Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give  as we expand our outreach. 

Is it more important to give consistently — or in a way that pleases God? And can you do both? We’ll have answers to those questions today on Faith and Finance. 2 Corinthians 9:7:  “Each one must give as he has decided in his heart, not reluctantly or under compulsion, for God loves a cheerful giver.”We’d like to thank our friends at Christian Stewardship Network for a terrific article on this topic titled “<a href="https://www.christianstewardshipnetwork.com/blog/2021/7/7/giving-that-god-accepts" rel="nofollow" target="_blank">Giving that God Accepts</a>.”As Christians, we should be committed to doing things the right way. But our fallen, sinful nature often leads us astray. Not in trying to be righteous, but more often in the reason why we try to act in a righteous way. If we’re doing it to prove ourselves to God, we go astray.And it’s in giving that our attempts at righteousness perhaps most often miss their mark. Giving is tangible. It provides proof, to us at least,that we’re doing the right thing. Other righteous acts, like prayer and worship, are less concrete.  WHAT SORT OF GIVING DOES GOD ACCEPT? We can look to King David for an example of a generous giver. David likely gave billions of dollars worth of treasure to build the temple in Jerusalem. But it wasn’t the size of the construction budget that pleased God. It was the way that David gave to complete the massive project.No amount of giving can sway God one way or the other. He already owns 100% of anything we give back to His kingdom. He doesn’t need the money. What do you give to Someone who has everything? To quote David in Psalm 24:1, “The earth is the Lord's and the fullness thereof, the world and those who dwell therein.”God owns everything because He created everything. But He does want to have a relationship with us. God requires us to give a portion of what He gives us back to His Kingdom because He wants us to be a part of it.God made us in His image and He desires relationships, so He made us that way too. And that’s how we need to understand giving. David understood this and we’ll see in Psalm 51 how he acts properly.Let’s set the stage. The prophet Nathan had called out David for his adultery with Bathsheba and sending her husband Uriah off to die in battle to cover his sin. That takes place in 2 Samuel 11.Now, obviously, David sinned against Bathsheba and Uriah, but he understood that his sin was ultimately against God.Now to Psalm 51 and verse 16  where David reveals something about God that should direct us in how we give. He writes, “You do not desire a sacrifice, or I would offer one. You do not want a burnt offering.”If money could buy God’s forgiveness, David probably would have given everything, but he knew God wanted nothing material from him.David goes on to write, “The sacrifice you desire is a broken spirit. You will not reject a broken and repentant heart, O God.” That’s what God desires from us, a broken, repentant heart. And that’s what David gave Him. We must let that be the basis of all we do, including giving. On today’s program, Rob also answers listener questions: <ul><li>When you start withdrawing money from retirement accounts, which accounts should you withdraw from first?</li><li>How can you find out if a relative who passed away had a life insurance policy?</li><li>How do you determine how best to help a parent with their finances?</li><li>What factors should you weigh in determining the best way to leave your assets behind for your adult children?</li></ul> RESOURCES MENTIONED:<ul><li><a href="https://www.irs.gov/" rel="nofollow" target="_blank">IRS.gov</a></li><li><a href="https://www.faithfi.com/find" rel="nofollow" target="_blank">Find a Certified Kingdom Advisor</a></li><li><a href="http://naic.org" rel="nofollow" target="_blank">National Association of Insurance Commissioners</a></li><li><a href="https://www.missingmoney.com/" rel="nofollow" target="_blank">MissingMoney.com</a></li></ul> Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a> where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">and give </a> as we expand our outreach.

Acceptable Giving

Ron Blue

The Bible tells us that it’s good to leave an inheritance to our children. How we do that is still a matter of some discussion. While it’s critically important to have a will, there’s a bit more to putting your estate in order. We’ll talk about that today with financial teacher and author Ron Blue.Ron Blue is cofounder of Kingdom Advisors and the author of many books on biblical finance, including Splitting Heirs: Giving Your Money and Things to Your Children Without Ruining Their Lives. Ron compares estate planning to cooking and following a recipe. THE ESTATE PLANNING RECIPEIf you bake a pie, you don't just take all the ingredients and throw 'em into a pan and assume that the pie is gonna come out.You have to take each step in order, from preparation to adding layers, to baking, and topping. With estate planning, you also need to follow a process. And Ron has identified several steps to the estate planning recipe that need to be followed in sequence: 1. Who? The first step is to figure out who's going to get it. You have to figure out who's going to get it before you make decisions as to how much. It could be to your heirs, to charity, or anyone else, but you must decide the “who” first.2. How much? Next, you’ll decide how much to leave to each of these individuals or organizations.3. When? The third step is to figure out the timing. In other words, if you have an estate, you could choose to begin transferring some of that now and avoid the tax consequences later, as opposed to waiting until later. When do you want to transfer this estate? Do you want to do your giving now or later?4. Strings or no strings? Then the fourth step is, when you transfer your wealth to someone or something, are you transferring it with no strings attached? 5. How? (Tools and techniques)  The next step is to use what Ron Blue calls “tools and techniques” to determine the best way to transfer your wealth from a tax efficiency standpoint. 6. Talk!  The last step (and really, an ongoing step) is to communicate with family and/or other beneficiaries about the why, the who, the how much, the when, and the what.EVERYONE should go through these steps in their estate planning, regardless of how much you have to give or leave behind! On today’s program, Rob also answers listener questions: -How long should you hold onto tax documents and other records? -What happens to your insurance policy if the insurance company goes out of business? RESOURCES MENTIONED:-  IHIGA.orgRemember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give  as we expand our outreach. 

The Bible tells us that it’s good to leave an inheritance to our children. How we do that is still a matter of some discussion. While it’s critically important to have a will, there’s a bit more to putting your estate in order. We’ll talk about that today with financial teacher and author Ron Blue.Ron Blue is cofounder of Kingdom Advisors and the author of many books on biblical finance, including <a href="https://www.amazon.com/Splitting-Heirs-Children-Without-Ruining/dp/0802413765" rel="nofollow" target="_blank">Splitting Heirs</a>: Giving Your Money and Things to Your Children Without Ruining Their Lives. Ron compares estate planning to cooking and following a recipe. THE ESTATE PLANNING RECIPEIf you bake a pie, you don't just take all the ingredients and throw 'em into a pan and assume that the pie is gonna come out.You have to take each step in order, from preparation to adding layers, to baking, and topping. With estate planning, you also need to follow a process. And Ron has identified several steps to the estate planning recipe that need to be followed in sequence: 1. Who? The first step is to figure out who's going to get it. You have to figure out who's going to get it before you make decisions as to how much. It could be to your heirs, to charity, or anyone else, but you must decide the “who” first.2. How much? Next, you’ll decide how much to leave to each of these individuals or organizations.3. When? The third step is to figure out the timing. In other words, if you have an estate, you could choose to begin transferring some of that now and avoid the tax consequences later, as opposed to waiting until later. When do you want to transfer this estate? Do you want to do your giving now or later?4. Strings or no strings? Then the fourth step is, when you transfer your wealth to someone or something, are you transferring it with no strings attached? 5. How? (Tools and techniques)  The next step is to use what Ron Blue calls “tools and techniques” to determine the best way to transfer your wealth from a tax efficiency standpoint. 6. Talk!  The last step (and really, an ongoing step) is to communicate with family and/or other beneficiaries about the why, the who, the how much, the when, and the what.EVERYONE should go through these steps in their estate planning, regardless of how much you have to give or leave behind! On today’s program, Rob also answers listener questions:  -How long should you hold onto tax documents and other records? -What happens to your insurance policy if the insurance company goes out of business? RESOURCES MENTIONED: -  <a href="https://www.ilhiga.org/Contact" rel="nofollow" target="_blank">IHIGA.org</a>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith &amp; Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/" rel="nofollow" target="_blank">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/" rel="nofollow" target="_blank">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/" rel="nofollow" target="_blank">FaithFi.com</a> where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2" rel="nofollow" target="_blank">and give </a> as we expand our outreach.

6 Steps of Estate Planning With Ron Blue

I really enjoy listening to this show. The tips and advice are always sound and reliable.

Excellent!

Thank you Rob for this amazing podcast it has changed my life.

Life changing!

Faith & Finance

The best podcast episodes of anyone with an interesting story. With famous guests like Obama, LeBron James, Drake, Oprah Winfrey, Richard Branson, Michelle Obama, Serena Williams, to anyone who has a unique and interesting story to tell. Add episodes you're interested into your queue below!

Best Episodes: Personal Stories & Great Interviews

The best self improvement podcast episodes. From improving productivity, to finding purpose in your life to what constitutes freedom, this topic is on anything and everything that can help people to improve their lives. Add episodes you're interested into your queue below!