To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Isaiah 32:18 reads, My people will abide in a peaceful habitation, in secure dwellings, and in quiet resting places.That verse describes what we’re all looking for when buying a home. Lately, rising home values have made that difficult. Will that continue in 2022? Today, mortgage expert Dale Vermillion joins Rob West to help answer that question.

Dale Vermillion is the author ofNavigating the Mortgage Maze: The Simple Truth about Financing Your Home.

Home values have already climbed 22% since the onset of the COVID pandemic.

FORECASTS PREDICT CONTINUED RISE IN HOME PRICES

Multiple recentforecastspredict that the sharp upward trend in home values will continue in 2022. Zillow projected home values will rise 13.6% over the next 12 months. Meanwhile, Goldman Sachs said U.S. home prices will climb16%by the end of 2022.

However, another forecast from CoreLogic, a company that crunches property data, says that home prices will only rise 2.2% over the next year.

Why such a big difference in those forecasts?

Like other economic models, these forecasts depend on what data you put into them. Mortgage rates are tied to home values, and of course, inflation affects interest rates.

With inflation on the rise, the Federal Reserve is more likely to raise interest rates, which would drive up the average 30-year fixed mortgage rate. That would put negative pressure on the housing market. It’s likely that the lower CoreLogic projection for home values took more inflation data into consideration.

WHAT DOES ALL OF THIS MEAN FOR HOMEBUYERS?

Even if the CoreLogic forecast proves accurate, rising mortgage rates could ensure that buying a home is likely to be more, not less, expensive in 2022.

But that doesn’t mean everyone should rush out and buy a home before prices rise further. Make sure the timing is right for YOU based on your financial situation. Don’t be afraid to rent until you are in a solid position to buy a house.

Learn more about Dale Vermillion atDaleVermillion.com

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

●Would it be best to use the proceeds from a property sale to invest in a new rental property or pay off a mortgage?

RESOURCES MENTIONED DURING THIS PROGRAM

●Navigating the Mortgage Maze: The Simple Truth About Financing Your Home

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

Proverbs 16 tells us, All the ways of a man are pure in his own eyes, but the Lord weighs the spirit. Commit your work to the Lord, and your plans will be established.

That passage describes God’s view of success, and it’s quite different from the world’s view. We’ll talk about the biblical definition of success today on MoneyWise.

The world’s view of success is having enough money, achieving career success and attaining status. But if this is what success really looks like, then why are so many successful people so miserable?

WEALTH AND ACHIEVEMENT CAN’T FILL THE VOID

It’s often said we have a God-shaped hole in our souls. People can spend a lifetime chasing fulfillment, but will never attain it until the day they realize that nothing on earth fits into that God-shaped hole.

It’s easy for fall for the world’s definition of success. Advertising seeks to sell us on this definition every day.

In Matthew 6, Jesus warns us, Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven

GOD DOESN’T CALL EVERYONE TO A VOW OF POVERTY

Now, that doesn’t mean that Christians should stay poor and lowly to be successful in God’s eyes. Here, attitude counts far more than action. 1 Cor. 13 says, And if I give all my possessions to feed the poor, and if I deliver my body to be burned, but do not have love, it profits me nothing.

God often provides an extra measure of resources beyond our needs, in the form of money or other assets, so that we can be generous toward His Kingdom. But He wants us to do that with the right attitude, out of love for Him, and others less fortunate.

In Matthew 25, Jesus says that what you do for the least of these, you do for me. He goes on to say, 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

MANY BLESSINGS ARE NOT MATERIAL

It’s important to understand that God often blesses us in ways that have nothing to do with material things. Loving relationships with family and friends, a strong, nurturing church, and most of all, a deeper relationship with Him. That’s the true blessing and true success..

So how do we obtain the good things God promises? In Matthew 6, Jesus says, But seek first the kingdom of God and his righteousness, and all these things will be added to you.

GETTING THE HEART RIGHT

It’s also important to note that we can never do these things perfectly. Attitude is more important than results. God simply wants us to diligently seek Him and his righteousness.

That means we fully trust in God and we’re willing to make things right when we fail. We’re quick to humble ourselves continually before the throne of God. Psalm 84 also says, Blessed is the man who trusts in You.

God has special plans for each of us that we can’t fulfill without fully trusting in Him. He promises not to withhold any good thing from us when we trust Him fully and seek His will for our lives. And we must always acknowledge that any success we achieve comes from God.

To help us be a success in God’s eyes we must remember three key words surrender, obedience and persistence.

Surrendermeans accepting that God owns it all.We’re only temporary managers or stewards of what he gives us.

Obediencemeans being willing to use God’s resources as He directs.

persistencemeans sticking with the first two items no matter what worldly stresses or pressure we encounter. Nehemiah 6 asks, Should someone in my position run from danger?

Finally, in Acts 21, we see Paul responding to disciples who wanted him to stay away from Jerusalem for his safety. He says, Why all this weeping? I am ready to be jailed but even to die for the sake of the Lord Jesus. Now, that’s surrender, obedience and persistence put into action.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

●Is there a way to protect your assets so that long-term care costs don’t consume all of your retirement funds?

●Is it wise to take money from savings to pay off your mortgage early?

●How can you make use of a qualified charitable distribution?

●How should you allocate property and assets between your children in your will?

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Proverbs 16 tells us, All the ways of a man are pure in his own eyes, but the Lord weighs the spirit. Commit your work to the Lord, and your plans will be established.

That passage describes God’s view of success, and it’s quite different from the world’s view. We’ll talk about the biblical definition of success today on MoneyWise.

The world’s view of success is having enough money, achieving career success and attaining status. But if this is what success really looks like, then why are so many successful people so miserable?

WEALTH AND ACHIEVEMENT CAN’T FILL THE VOID

It’s often said we have a God-shaped hole in our souls. People can spend a lifetime chasing fulfillment, but will never attain it until the day they realize that nothing on earth fits into that God-shaped hole.

It’s easy for fall for the world’s definition of success. Advertising seeks to sell us on this definition every day.

In Matthew 6, Jesus warns us, Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven

GOD DOESN’T CALL EVERYONE TO A VOW OF POVERTY

Now, that doesn’t mean that Christians should stay poor and lowly to be successful in God’s eyes. Here, attitude counts far more than action. 1 Cor. 13 says, And if I give all my possessions to feed the poor, and if I deliver my body to be burned, but do not have love, it profits me nothing.

God often provides an extra measure of resources beyond our needs, in the form of money or other assets, so that we can be generous toward His Kingdom. But He wants us to do that with the right attitude, out of love for Him, and others less fortunate.

In Matthew 25, Jesus says that what you do for the least of these, you do for me. He goes on to say, 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

MANY BLESSINGS ARE NOT MATERIAL

It’s important to understand that God often blesses us in ways that have nothing to do with material things. Loving relationships with family and friends, a strong, nurturing church, and most of all, a deeper relationship with Him. That’s the true blessing and true success..

So how do we obtain the good things God promises? In Matthew 6, Jesus says, But seek first the kingdom of God and his righteousness, and all these things will be added to you.

GETTING THE HEART RIGHT

It’s also important to note that we can never do these things perfectly. Attitude is more important than results. God simply wants us to diligently seek Him and his righteousness.

That means we fully trust in God and we’re willing to make things right when we fail. We’re quick to humble ourselves continually before the throne of God. Psalm 84 also says, Blessed is the man who trusts in You.

God has special plans for each of us that we can’t fulfill without fully trusting in Him. He promises not to withhold any good thing from us when we trust Him fully and seek His will for our lives. And we must always acknowledge that any success we achieve comes from God.

To help us be a success in God’s eyes we must remember three key words surrender, obedience and persistence.

Surrendermeans accepting that God owns it all.We’re only temporary managers or stewards of what he gives us.

Obediencemeans being willing to use God’s resources as He directs.

persistencemeans sticking with the first two items no matter what worldly stresses or pressure we encounter. Nehemiah 6 asks, Should someone in my position run from danger?

Finally, in Acts 21, we see Paul responding to disciples who wanted him to stay away from Jerusalem for his safety. He says, Why all this weeping? I am ready to be jailed but even to die for the sake of the Lord Jesus. Now, that’s surrender, obedience and persistence put into action.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

●Is there a way to protect your assets so that long-term care costs don’t consume all of your retirement funds?

●Is it wise to take money from savings to pay off your mortgage early?

●How can you make use of a qualified charitable distribution?

●How should you allocate property and assets between your children in your will?

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

Ephesians 2:10 reads, For we are His workmanship, created in Christ Jesus for good works, which God prepared beforehand that we should walk in them. That makes choosing the right career field especially important. If you’re deciding on a career path or looking to make a change, we have a list of strong career options for 2022 today on MoneyWise.

STRONG CAREER OPTIONS IN 2022

1. MEDICAL:So first on our list (these aren’t in any particular order) is healthcare. The COVID pandemic hit this field hard and healthcare providers are in huge demand.

Estimates show that between 200,000 and 500,000 new registered nurses will be needed in the next five years. You’ll need a bachelor’s degree and a license, but the median annual income for registered nurses is $75,000.

If you’re thinking about going a step further, medical doctors will be in high demand in the next decade with nearly 20,000 new physician positions opening up.

That’s a lot of education and on-the-job training, but if you make it through and become board certified, the annual median salary for a medical doctor is well over $200,000.

Here’s another one that’s been hugely affected by COVID:

2. SUPPLY CHAIN MANAGEMENT:These jobs include purchasing, logistics and distribution. If you’re good at math and like tinkering with systems to make them run efficiently, this field is for you. You’ll need at least a bachelor’s degree and the median annual salary is $85,000.

3. INFORMATION TECHNOLOGY:It shouldn’t come as a surprise that IT makes the list. The information technology field is constantly expanding. Many of these jobs are now offered with the ability to work remotely, so if you’d rather spend your time with code than with people, IT is something to consider.

The Bureau of Labor Statistics predicts that 300,000 new IT positions will open up before 2030. The median salary is around $100,000 a year. You don’t necessarily need a degree for IT work, but it will certainly provide more opportunities than not having one.

4. HUMAN RESOURCES:If you do like working with people, human resources is expected to be another field enjoying significant growth in the years ahead with nearly 50,000 new jobs by 2029.

You’ll also need a bachelor’ degree to advance in human resources, but expect an annual median salary around $65,000.

5. FINANCIAL MANAGEMENT:Financial management is another biggie. Job growth there is expected to increase by 15-percent over the next 10 years. You’ll need a bachelor’s degree, but many companies prefer candidates with an MBA. It’s definitely worth it, though, as the median annual salary is around $120,000.

6. CONSTRUCTION MANAGEMENT:If you like building things, or better yet, watching and supervising other people building things, construction management could be for you. You’ll usually need a bachelor’s degree to become a construction manager, but the annual media salary is around $100,000.

7. LAW ENFORCEMENT:To become a police officer, you’ll need a high school diploma and will need to complete cadet and on-the-job training. You can expect more than 40,000 new police officer positions opening up in the next decade with a median salary of $65,000 (but keep in mind that this is not the typically starting salary).

8. INDUSTRIAL MECHANIC:If you like tinkering with nuts and bolts, consider a career as an industrial machinery mechanic. Employers are likely to offer on-the-job training for these positions, and you can expect more than 60,000 industrial mechanic positions to open up by the end of the decade. All you need is a high school diploma or equivalent, and the median annual salary is over $55,000.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

●Should you lend money to a family member if you have concerns about how they handle their money?

●With Social Security on a path to insolvency, how will that affect your financial future?

●How should you balance paying down your mortgage with investing for the future?

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Ephesians 2:10 reads, For we are His workmanship, created in Christ Jesus for good works, which God prepared beforehand that we should walk in them. That makes choosing the right career field especially important. If you’re deciding on a career path or looking to make a change, we have a list of strong career options for 2022 today on MoneyWise.

STRONG CAREER OPTIONS IN 2022

1. MEDICAL:So first on our list (these aren’t in any particular order) is healthcare. The COVID pandemic hit this field hard and healthcare providers are in huge demand.

Estimates show that between 200,000 and 500,000 new registered nurses will be needed in the next five years. You’ll need a bachelor’s degree and a license, but the median annual income for registered nurses is $75,000.

If you’re thinking about going a step further, medical doctors will be in high demand in the next decade with nearly 20,000 new physician positions opening up.

That’s a lot of education and on-the-job training, but if you make it through and become board certified, the annual median salary for a medical doctor is well over $200,000.

Here’s another one that’s been hugely affected by COVID:

2. SUPPLY CHAIN MANAGEMENT:These jobs include purchasing, logistics and distribution. If you’re good at math and like tinkering with systems to make them run efficiently, this field is for you. You’ll need at least a bachelor’s degree and the median annual salary is $85,000.

3. INFORMATION TECHNOLOGY:It shouldn’t come as a surprise that IT makes the list. The information technology field is constantly expanding. Many of these jobs are now offered with the ability to work remotely, so if you’d rather spend your time with code than with people, IT is something to consider.

The Bureau of Labor Statistics predicts that 300,000 new IT positions will open up before 2030. The median salary is around $100,000 a year. You don’t necessarily need a degree for IT work, but it will certainly provide more opportunities than not having one.

4. HUMAN RESOURCES:If you do like working with people, human resources is expected to be another field enjoying significant growth in the years ahead with nearly 50,000 new jobs by 2029.

You’ll also need a bachelor’ degree to advance in human resources, but expect an annual median salary around $65,000.

5. FINANCIAL MANAGEMENT:Financial management is another biggie. Job growth there is expected to increase by 15-percent over the next 10 years. You’ll need a bachelor’s degree, but many companies prefer candidates with an MBA. It’s definitely worth it, though, as the median annual salary is around $120,000.

6. CONSTRUCTION MANAGEMENT:If you like building things, or better yet, watching and supervising other people building things, construction management could be for you. You’ll usually need a bachelor’s degree to become a construction manager, but the annual media salary is around $100,000.

7. LAW ENFORCEMENT:To become a police officer, you’ll need a high school diploma and will need to complete cadet and on-the-job training. You can expect more than 40,000 new police officer positions opening up in the next decade with a median salary of $65,000 (but keep in mind that this is not the typically starting salary).

8. INDUSTRIAL MECHANIC:If you like tinkering with nuts and bolts, consider a career as an industrial machinery mechanic. Employers are likely to offer on-the-job training for these positions, and you can expect more than 60,000 industrial mechanic positions to open up by the end of the decade. All you need is a high school diploma or equivalent, and the median annual salary is over $55,000.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

●Should you lend money to a family member if you have concerns about how they handle their money?

●With Social Security on a path to insolvency, how will that affect your financial future?

●How should you balance paying down your mortgage with investing for the future?

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

Nineteenth century author Ambrose Bierce once said, Death is not the end. There remains the litigation over the estate. Humor aside, dying without a will is a sure way to leave your loved ones a legal mess in the probate court and family feuding over who gets what. But you can spare them that difficulty. We’ll explain today on MoneyWise.

So let’s get into the reasons why you need to draw up a written will if you haven’t already, and along the way we can dispel some of the misconceptions about wills.

Without a will, it will be up to probate courts to determine how your estate will be handled upon death. State law will determine who gets what, and that may be contrary to your wishes.

PREPARING A WILL IS AN ACT OF LOVE TOWARD YOUR LOVED ONES

Maybe the biggest reason that you need a will is that it will reduce the likelihood of family disputes after you’re gone. In a will, you can leave specific instructions as to who gets what, potentially eliminating all the squabbling.

It’s true that your heirs could still have hard feelings even if inheritances are clearly spelled out, but a will isn’t just a set of instructions. It’s a document that can express not just your intentions, but your reasons behind them.

Our friend Ron Blue spells this out clearly in his book,Splitting Heirs. Simply dividing up your assets equally might be fair, but it isn’t necessarily biblical. Ron says, Wisdom can create wealth, but wealth almost never creates wisdom.

One child may not be capable of handling money, or another might have much greater needs than your other heirs. So explaining why you’re dividing things a certain way can also help eliminate family fighting. Ron also says that if you love your children equally, you’ll treat them uniquely.

There are other reasons to draw up a will. It’s a great way to itemize your assets. Without a specific list of your holdings and possessions, the probate court could take months or years sifting through your financial records.

Another good reason to draw up a will is that it can help you provide for heirs with special needs. If one of your heirs is too young or immature to manage money, you can place restrictions on the inheritance with a will. You can also do that with a living or revocable trust.

A WILL ALLOWS YOU TO DECIDE WHO WILL CARE FOR YOUR CHILDREN

There’s one more really important reason for having a will, and this one’s often a real sticking point for couples with children. A will enables you to name a guardian for your children. This is one of the reasons that some parents procrastinate in making out a will, because it forces them to decide who will care for the kids should something happen to them. That’s not a pleasant thought and quite often, it’s a tough decision to make.

MISCONCEPTIONS ABOUT WILLS

Turning now to some of the misconceptions about wills, the one you hear most often is, I don’t need one. But we just talked about how a will allows you to name who’ll care for your children if something happens to you. Without a will, the state decides who raises your kids as well as who gets all of your assets.

Another misconception is that your spouse automatically gets everything you have, so you don’t really need a will. That’s the case most of the time, but different states have different rules.

For example, your state may require that your assets be divided equally among your spouse, children or grandchildren, whether you wanted that or not. So you can’t assume your spouse will inherit everything. You can avoid all that by having a will in place.

Okay, our last myth is, drawing up a will is too expensive. The truth is, writing a will is one of the least costly things that attorneys do. Many of them charge a flat fee to write a will or other basic estate planning documents. The average cost for drawing up a will is around $500.

Of course, you can do it even cheaper by filling in the blanks at one of those online legal form sites. That may work just fine, but an attorney can help you address issues that may not come up with the do it yourself approach.

And of course, you can find an attorney or estate planner who shares your values when youlook for a Certified Kingdom Advisor at MoneyWise.org.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

●What is the purpose of work (working for a living)?

●What is an ideal amount to have saved in a 401k at age 48?

●How can you move money from a 401k into a Roth IRA, and would that make sense?

●How do you determine what to do with your money after becoming debt free?

●What is the best way to learn the basics of budgeting and managing money?

RESOURCES MENTIONED DURING THIS PROGRAM

●Find a Certified Kingdom Advisor

●Your Money Counts by Howard Dayton (book)

●MoneyWise App

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Nineteenth century author Ambrose Bierce once said, Death is not the end. There remains the litigation over the estate. Humor aside, dying without a will is a sure way to leave your loved ones a legal mess in the probate court and family feuding over who gets what. But you can spare them that difficulty. We’ll explain today on MoneyWise.

So let’s get into the reasons why you need to draw up a written will if you haven’t already, and along the way we can dispel some of the misconceptions about wills.

Without a will, it will be up to probate courts to determine how your estate will be handled upon death. State law will determine who gets what, and that may be contrary to your wishes.

PREPARING A WILL IS AN ACT OF LOVE TOWARD YOUR LOVED ONES

Maybe the biggest reason that you need a will is that it will reduce the likelihood of family disputes after you’re gone. In a will, you can leave specific instructions as to who gets what, potentially eliminating all the squabbling.

It’s true that your heirs could still have hard feelings even if inheritances are clearly spelled out, but a will isn’t just a set of instructions. It’s a document that can express not just your intentions, but your reasons behind them.

Our friend Ron Blue spells this out clearly in his book,Splitting Heirs. Simply dividing up your assets equally might be fair, but it isn’t necessarily biblical. Ron says, Wisdom can create wealth, but wealth almost never creates wisdom.

One child may not be capable of handling money, or another might have much greater needs than your other heirs. So explaining why you’re dividing things a certain way can also help eliminate family fighting. Ron also says that if you love your children equally, you’ll treat them uniquely.

There are other reasons to draw up a will. It’s a great way to itemize your assets. Without a specific list of your holdings and possessions, the probate court could take months or years sifting through your financial records.

Another good reason to draw up a will is that it can help you provide for heirs with special needs. If one of your heirs is too young or immature to manage money, you can place restrictions on the inheritance with a will. You can also do that with a living or revocable trust.

A WILL ALLOWS YOU TO DECIDE WHO WILL CARE FOR YOUR CHILDREN

There’s one more really important reason for having a will, and this one’s often a real sticking point for couples with children. A will enables you to name a guardian for your children. This is one of the reasons that some parents procrastinate in making out a will, because it forces them to decide who will care for the kids should something happen to them. That’s not a pleasant thought and quite often, it’s a tough decision to make.

MISCONCEPTIONS ABOUT WILLS

Turning now to some of the misconceptions about wills, the one you hear most often is, I don’t need one. But we just talked about how a will allows you to name who’ll care for your children if something happens to you. Without a will, the state decides who raises your kids as well as who gets all of your assets.

Another misconception is that your spouse automatically gets everything you have, so you don’t really need a will. That’s the case most of the time, but different states have different rules.

For example, your state may require that your assets be divided equally among your spouse, children or grandchildren, whether you wanted that or not. So you can’t assume your spouse will inherit everything. You can avoid all that by having a will in place.

Okay, our last myth is, drawing up a will is too expensive. The truth is, writing a will is one of the least costly things that attorneys do. Many of them charge a flat fee to write a will or other basic estate planning documents. The average cost for drawing up a will is around $500.

Of course, you can do it even cheaper by filling in the blanks at one of those online legal form sites. That may work just fine, but an attorney can help you address issues that may not come up with the do it yourself approach.

And of course, you can find an attorney or estate planner who shares your values when youlook for a Certified Kingdom Advisor at MoneyWise.org.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

●What is the purpose of work (working for a living)?

●What is an ideal amount to have saved in a 401k at age 48?

●How can you move money from a 401k into a Roth IRA, and would that make sense?

●How do you determine what to do with your money after becoming debt free?

●What is the best way to learn the basics of budgeting and managing money?

RESOURCES MENTIONED DURING THIS PROGRAM

●Find a Certified Kingdom Advisor

●Your Money Counts by Howard Dayton (book)

●MoneyWise App

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

Having a good credit score can be important to your financial health. It keeps money in your pocket by getting lower interest rates among other benefits. Today on MoneyWise, we’ll give you tips to boost your credit score.

Now I should say right at the start that some of these aren’t recommended but I’ll mention them because it’ll help you understand how your credit score is determined.

The first way to boost your score is to have a strategy for paying off your balances.

KEEP BALANCES BELOW 30%

Ideally, you pay them off in full every month. But if you can’t do that, make sure you never use more than 30-percent of your available credit on any revolving account, such as a credit card. Once you go over 30-percent, your score begins to fall.

You want to make your payment before the issuer reports to the credit bureaus each month. You can google to find out when that is.

For example, Discover reports to all three credit bureaus, Experian, Transunion and equifax, three days after your closing statement for the month. An easy way to make sure your payment is recorded is to make two or more payments throughout the month.

Keeping your balance below 30-percent is the second most important factor in determining your credit score. But the single most important fact is to

ALWAYS PAY ON TIME!

Nothing impacts your credit score as greatly as paying on time.

If you’re ever more than 30 days late, call the creditor immediately and explain your situation. Ask if they’ll delay reporting the late payment. They might, but there’s no guarantee. Then make the payment as soon as possible.

DISPUTE ERRORS

Check your credit reports regularly. Get all three reports for free atAnnualCreditReport.com. If you see an error, you can dispute it at the appropriate credit bureau.

DEALING WITH COLLECTION AGENCIES

If you have an account that’s gone to collections, your score has probably suffered significantly, and it will continue to be affected for seven years. But dealing with collectors properly can have a big impact on your score.

Call the collection agency and give them a plan for paying it in full or making regular, and faithful monthly payments.

When you’ve paid off the account, ask the collection agency if they’ll stop reporting it to the credit bureaus. If they agree to and that’s a big if it will greatly improve your score.

BUILDING CREDIT WITH LITTLE OR NO CREDIT HISTORY

You can begin by becoming an authorized user on someone else’s credit card. For example, a parent can sign up online with the issuer to make a child an authorized user on a card. The child then gets the benefit of the parent’s longer credit history and good payment record.

But you can also get a secured credit card. You would put a deposit of, say, $500 on the card. You can then use the card up to that limit. But don’t. Instead, make one small regular purchase each month and pay off the balance in full. Your credit score will improve month by month.

You can also boost your credit score by making your rent and utility payments on time. Landlord and utilities don’t usually report to the credit bureaus, but you can subscribe with a rent reporting service to have it done.

DON’T DO THIS:

Here are a couple of strategies that we do not recommend. First, you can raise your credit score by getting an increase in your available credit from your card issuer. That would improve your score because it lowers your credit utilization, which makes up 30-percent of your score. A better wayto achieve the same thing is to simply pay down your balances.

You could also add different kinds of accounts. For example, if you don’t have a car loan, if you finance a car, your score will increase because you have a greater credit mix. Your credit mix makes up another 10-percent of your score. But it’s just not wise to take on debt to improve your score. So don’t do it.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

●How should you approach investing if your spouse is fearful of investing in the stock market?

●Would a mortgage loan modification have an impact on your credit score?

●When does it make sense to take money out of an annuity and invest it elsewhere?

●What’s the difference between the FDIC protection for bank account funds and the federal protection for credit union accounts?

●How do you unload a financed vehicle when you’re overextended financially?

RESOURCES MENTIONED DURING THIS PROGRAM

●SoundMindInvesting

●Inspire Investing

●Praxis Mutual Funds

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Having a good credit score can be important to your financial health. It keeps money in your pocket by getting lower interest rates among other benefits. Today on MoneyWise, we’ll give you tips to boost your credit score.

Now I should say right at the start that some of these aren’t recommended but I’ll mention them because it’ll help you understand how your credit score is determined.

The first way to boost your score is to have a strategy for paying off your balances.

KEEP BALANCES BELOW 30%

Ideally, you pay them off in full every month. But if you can’t do that, make sure you never use more than 30-percent of your available credit on any revolving account, such as a credit card. Once you go over 30-percent, your score begins to fall.

You want to make your payment before the issuer reports to the credit bureaus each month. You can google to find out when that is.

For example, Discover reports to all three credit bureaus, Experian, Transunion and equifax, three days after your closing statement for the month. An easy way to make sure your payment is recorded is to make two or more payments throughout the month.

Keeping your balance below 30-percent is the second most important factor in determining your credit score. But the single most important fact is to

ALWAYS PAY ON TIME!

Nothing impacts your credit score as greatly as paying on time.

If you’re ever more than 30 days late, call the creditor immediately and explain your situation. Ask if they’ll delay reporting the late payment. They might, but there’s no guarantee. Then make the payment as soon as possible.

DISPUTE ERRORS

Check your credit reports regularly. Get all three reports for free atAnnualCreditReport.com. If you see an error, you can dispute it at the appropriate credit bureau.

DEALING WITH COLLECTION AGENCIES

If you have an account that’s gone to collections, your score has probably suffered significantly, and it will continue to be affected for seven years. But dealing with collectors properly can have a big impact on your score.

Call the collection agency and give them a plan for paying it in full or making regular, and faithful monthly payments.

When you’ve paid off the account, ask the collection agency if they’ll stop reporting it to the credit bureaus. If they agree to and that’s a big if it will greatly improve your score.

BUILDING CREDIT WITH LITTLE OR NO CREDIT HISTORY

You can begin by becoming an authorized user on someone else’s credit card. For example, a parent can sign up online with the issuer to make a child an authorized user on a card. The child then gets the benefit of the parent’s longer credit history and good payment record.

But you can also get a secured credit card. You would put a deposit of, say, $500 on the card. You can then use the card up to that limit. But don’t. Instead, make one small regular purchase each month and pay off the balance in full. Your credit score will improve month by month.

You can also boost your credit score by making your rent and utility payments on time. Landlord and utilities don’t usually report to the credit bureaus, but you can subscribe with a rent reporting service to have it done.

DON’T DO THIS:

Here are a couple of strategies that we do not recommend. First, you can raise your credit score by getting an increase in your available credit from your card issuer. That would improve your score because it lowers your credit utilization, which makes up 30-percent of your score. A better wayto achieve the same thing is to simply pay down your balances.

You could also add different kinds of accounts. For example, if you don’t have a car loan, if you finance a car, your score will increase because you have a greater credit mix. Your credit mix makes up another 10-percent of your score. But it’s just not wise to take on debt to improve your score. So don’t do it.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

●How should you approach investing if your spouse is fearful of investing in the stock market?

●Would a mortgage loan modification have an impact on your credit score?

●When does it make sense to take money out of an annuity and invest it elsewhere?

●What’s the difference between the FDIC protection for bank account funds and the federal protection for credit union accounts?

●How do you unload a financed vehicle when you’re overextended financially?

RESOURCES MENTIONED DURING THIS PROGRAM

●SoundMindInvesting

●Inspire Investing

●Praxis Mutual Funds

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

The holidays are over and it’s time to make some changes to improve your finances in the coming year. And today on MoneyWise, we have a list of tips to get you started.

MONEY TIPS FOR 2022

1. MAKE A SPENDING PLAN:First, take a good look at your budget and make any necessary changes for the coming year. You will need to account for rising inflation on everything from fuel to electronics to groceries. You may need to cut spending in other areas, like entertainment, to compensate for those cost increases.

TheMoneyWise Appis a powerful budgeting tool with three different ways to choose from for budgeting your money.

2. SET UP AN EMERGENCY FUND:Another important step to improve your finances is to finally set up your emergency fund. Your emergency fund helps you stay out of debt when you’re hit with the unexpected.Open a savings account at an online bank and have something out of every paycheck automatically transferred to it. Cut discretionary spending to give yourself margin. Set a goal to save $1500.

Your next emergency fund goal is to save one month’s living expenses. Then three months. Ideally, keep going until you have six months’ expenses saved up. You may not get there this year, but don’t worry about that. Just get started!

3. MAKE A GIVING PLAN:As you tweak your budget, one area you definitely don’t want to cut back on is giving to your local church. Make a plan for how much you intend to give this year. Remember, the tithe is just the training wheels for giving. Prayerfully consider giving more than last year.

4. MAKE A WILL:Make this the year you finally draw up a will. Save your loved ones the unnecessary trauma of having the probate court decide how your estate is settled should something happen to you. This is critical if you have young dependents because a will gives you the opportunity to name a legal guardian.

5. PREPARE FOR RISING INTEREST RATES:With inflation back, the Federal Reserve is planning to raise interest rates soon. If you’re unfortunate enough to have a variable rate mortgage, start planning for higher monthly payments. The same is true if you have a home equity line of credit.

It also means that interest rates are likely to rise on consumer debt, like credit cards. If you have credit card debt, make a plan now to pay it off as soon as possible.

6. CONSIDER INCREASING RETIREMENT CONTRIBUTIONS:Next, consider bumping up your retirement contributions if you’re not on track to reach your goals. Take advantage of any employer matching funds to your 401k. You can contribute up to $20,500 to your 401k in 2022.

If you don’t have a 401k at work, set up a Roth IRA. You can contribute up to $6,000 in 2022 or $7,000 if you're 50 or older.

7. GET READY FOR TAX SEASON:The last year saw major changes in work settings due to COVID. If you work from home, you may be eligible for more deductions. Working from home means you can deduct a portion of your home expenses if you meet the requirements.

If you’re used to doing your own taxes, with or without a computer program, particularly if you’re working as a 1099 contractor, this might be one year to take your taxes to a professional because things get a lot more complicated. You don’t want to miss any deductions.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

●What should a widow do with her spouse’s pension?

●How can you continue to save for emergencies when money is tight?

●Is there a way to unload an unwanted timeshare?

●When does it make sense to pull money out of an annuity?

RESOURCES MENTIONED DURING THIS PROGRAM

●Find a Certified Kingdom Advisor

●MoneyWise App

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29