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

Proverbs 22:6 reads,Train a child in the way he should go, and when he is old he will not turn from it.But what exactly should that training entail? What are the most valuable things to teach children? Sharing the Gospel is obviously priceless, but teaching them to manage money God’s way is perhaps the next most valuable gift you can give them.

Maybe no one taught you the wise use of money when you were young and now you’re struggling. The idea of teaching biblical finance to your kids seems daunting.

It’s never too late to learn how God wants you to manage the resources He’s entrusted to you. The first thing you need to grasp is that He owns everything. We’re just stewards.

Second, you don’t have to worry about money because God has promised to provide for your needs. And if you need help setting up a budget, download the new MoneyWise app. It’s free and uses the tried and true envelope system, so it’s easy to set up.

The first thing you want to teach your children is a simple budgeting process: one-third for saving, one-third for giving, and one-third for spending. Guide them, but let them make their own decisions.

As for saving, that can be for a larger goal like a video game or clothing. Someday, maybe it can be for a car or even college.

If you want to give them an allowance, that’s okay, but attach some regular chores to it like making their bed or helping with the dishes. You can also set up a job list for the kids with dollar amounts specified for certain tasks. This is above and beyond allowance.

Never reward whining or begging. If your child desperately wants something, set up a plan to earn and save for it.

Philippians 4:19 says, And my God will supply every need of yours according to his riches in glory in Christ Jesus. God is our provider and He will provide for our needs. He doesn’t promise to give us everything we want.

Finally, a verse to encourage generosity. Hebrews 13:16 teaches, Do not neglect to do good and to share what you have, for such sacrifices are pleasing to God. Giving breaks the power of money over usanother critical lesson for your children.

On today’s program we also answer a few of your questions:

We’ve been paying so much over the years on our children’s education that we have no money left over to tithe! I know that’s backwards, but what advice would you give?

I’ve been working full-time since I was 16. Employers may want to do an early buy-out for me. If they do, I may take it. Is there an advantage or disadvantage assuming I could roll my 401(k) into my wife’s plan (with Edward Jones) What do you think?

What advice can you give on long-term care insurance?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

Honor the Lord with your wealth and with the first fruits of all your produce; then your barns will be filled with plenty, and your vats will be bursting with wine.That verse in Proverbs 3 is just one of more than 2300 in the Bible relating to money and possessions. God obviously takes this subject quite seriously and we should, as well. I’ll talk about that first today with financial teacher and author Ron Blue. Then it’s your calls at 800-525-7000.

God's Word is never wrong. It’s the source of all good financial wisdom. Here are two examples we use often:

Proverbs 21:20, Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it. That’s telling us to live on less than we earn to save a fundamental principle of investing.

Ecclesiastes 11:2, Give a portion to seven, or even to eight, for you know not what disaster may happen on earth. Another fundamental investing principle diversification. These principles originated in God’s Word.

God's Word offersprinciples for wise living rather than a prescription. I’ve seen all of God's financial principles proven over 50 years of advising people on managing money.

Faith should be the primary motivator but too often Christians tend to manage their finances out of fear rather than faith.Every decision, including financial decisions, are ultimately faith decisions. Scripture gives us the opportunity to seek wisdom rather than just knowledge.

Debt always mortgages the future. It’s never praised in Scripture and should be taken only when the potential return exceeds cost.

In John 16:33, Jesus says,You will have suffering in this world. That includes financial suffering. You’ve got to save a cushion, an emergency fund, to meet unexpected expenses.

On today’s program we also answer a few of your questions:

We live in the home that we purchased in 2020. Should we sell because of the current market?

I want to move to be near my daughter. I won’t get enough out of my home to purchase a home near her. Should I rent?

I rolled over money to an IRA. I am over 60 and don’t want anything aggressive. Is a mutual fund the best way to go for me?

My husband and I inherited some land from his father. The land is pretty much worthless. We have been paying the tax bills on it, but we kind of want to get rid of it. What can we do?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

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

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

Honor the Lord with your wealth and with the first fruits of all your produce; then your barns will be filled with plenty, and your vats will be bursting with wine.That verse in Proverbs 3 is just one of more than 2300 in the Bible relating to money and possessions. God obviously takes this subject quite seriously and we should, as well. I’ll talk about that first today with financial teacher and author Ron Blue. Then it’s your calls at 800-525-7000.

God's Word is never wrong. It’s the source of all good financial wisdom. Here are two examples we use often:

Proverbs 21:20, Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it. That’s telling us to live on less than we earn to save a fundamental principle of investing.

Ecclesiastes 11:2, Give a portion to seven, or even to eight, for you know not what disaster may happen on earth. Another fundamental investing principle diversification. These principles originated in God’s Word.

God's Word offersprinciples for wise living rather than a prescription. I’ve seen all of God's financial principles proven over 50 years of advising people on managing money.

Faith should be the primary motivator but too often Christians tend to manage their finances out of fear rather than faith.Every decision, including financial decisions, are ultimately faith decisions. Scripture gives us the opportunity to seek wisdom rather than just knowledge.

Debt always mortgages the future. It’s never praised in Scripture and should be taken only when the potential return exceeds cost.

In John 16:33, Jesus says,You will have suffering in this world. That includes financial suffering. You’ve got to save a cushion, an emergency fund, to meet unexpected expenses.

On today’s program we also answer a few of your questions:

We live in the home that we purchased in 2020. Should we sell because of the current market?

I want to move to be near my daughter. I won’t get enough out of my home to purchase a home near her. Should I rent?

I rolled over money to an IRA. I am over 60 and don’t want anything aggressive. Is a mutual fund the best way to go for me?

My husband and I inherited some land from his father. The land is pretty much worthless. We have been paying the tax bills on it, but we kind of want to get rid of it. What can we do?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

It’s difficult to say what the most regrettable financial decision might be. Buying a timeshare comes to mind but high on the list is co-signing a loan for someone else. Getting stuck paying off a loan is bad enough, but worse, it’s often for a close relative or friend. We’ll talk about that today with some options for folks whohavecosigned.

The best advice about cosigning is to never do it. One of Ben Franklin’s famous quotes is, An ounce of prevention is worth a pound of cure. He wasn’t referring to cosigning at the time, but the general principle applies.

The Bible also is specific about cosigning and for good reason. Christians are often confused about it.

Proverbs 11:15 says not to pledge surety for another. That’s another way of saying don’t co-sign a loan for another who doesn’t qualify on his or her own. Also, Proverbs 17:18 says, One who lacks sense gives a pledge and puts up security in the presence of his neighbor.

Proverbs also says in 22:26-27, Be not one of those who give pledges, who puts up security for debts. If you have nothing with which to pay, why should your bed be taken from under you?

The danger of cosigning is the same today as it was 2,500 years ago. One study showed that only 4 out of 10 people who co-sign end up paying off the loan. Nearly a third suffer damage to their credit.

Try refinancing. Your legal responsibility to repay the loan goes away if the other person refinances without you.

Try speeding up the loan payments by offering an incentive to the primary signer. Offer to match any payments he or she makes. You might still end up paying half the loan, but that’s better than getting stuck with the whole loan.

Try doing a credit makeover on the primary signer. Help that person understand the importance of improving their own credit score, paying their bills on time and paying off old debts.

On today’s program we also answer a few of your questions:

My mother has an annuity. She has an amount of money that she’d like to do something with. I have 6 siblings that this will be split among whenshepasses. She can leave it with the company it’s currently with at a 1% rate or she can take a lump sum and pay taxes on just the gains. We were advised to speak with a financial planner because there are other, better options.

What is your take on tax liens?

My college-age daughter wants to start long-term investing and is wanting to get the best interest, long term. She’d like to open an IRA. But what’s the best option for her age?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

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

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

It’s difficult to say what the most regrettable financial decision might be. Buying a timeshare comes to mind but high on the list is co-signing a loan for someone else. Getting stuck paying off a loan is bad enough, but worse, it’s often for a close relative or friend. We’ll talk about that today with some options for folks whohavecosigned.

The best advice about cosigning is to never do it. One of Ben Franklin’s famous quotes is, An ounce of prevention is worth a pound of cure. He wasn’t referring to cosigning at the time, but the general principle applies.

The Bible also is specific about cosigning and for good reason. Christians are often confused about it.

Proverbs 11:15 says not to pledge surety for another. That’s another way of saying don’t co-sign a loan for another who doesn’t qualify on his or her own. Also, Proverbs 17:18 says, One who lacks sense gives a pledge and puts up security in the presence of his neighbor.

Proverbs also says in 22:26-27, Be not one of those who give pledges, who puts up security for debts. If you have nothing with which to pay, why should your bed be taken from under you?

The danger of cosigning is the same today as it was 2,500 years ago. One study showed that only 4 out of 10 people who co-sign end up paying off the loan. Nearly a third suffer damage to their credit.

Try refinancing. Your legal responsibility to repay the loan goes away if the other person refinances without you.

Try speeding up the loan payments by offering an incentive to the primary signer. Offer to match any payments he or she makes. You might still end up paying half the loan, but that’s better than getting stuck with the whole loan.

Try doing a credit makeover on the primary signer. Help that person understand the importance of improving their own credit score, paying their bills on time and paying off old debts.

On today’s program we also answer a few of your questions:

My mother has an annuity. She has an amount of money that she’d like to do something with. I have 6 siblings that this will be split among whenshepasses. She can leave it with the company it’s currently with at a 1% rate or she can take a lump sum and pay taxes on just the gains. We were advised to speak with a financial planner because there are other, better options.

What is your take on tax liens?

My college-age daughter wants to start long-term investing and is wanting to get the best interest, long term. She’d like to open an IRA. But what’s the best option for her age?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

1 John 5:19 reads,We know that we are from God, and the whole world lies in the power of the evil one. It’s a scary thought, especially if you have children, as the world tries to lead them astray, often with money. Art Rainer joins us today to talk about 7 money lies teenagers are believing these days and to arm you with the truth. Art Rainer is a financial author and teacher, and vice president of The College at Southeastern in Wake Forest, North Carolina. Then it’s your calls at 800-525-7000.

Teenagers are being bombarded with lies about money. The world is consistently pouring into them its money principles, and they are accepted without very little questioning. Little do they know that what’s shaping their money mind is often toxic.

Money Lie #1 is that the Bible doesn’t really speak to money.Money can’t be compartmentalized. How you think about and manage money will affect most areas of your life.

Money Lie #2 is that money will make you happy.When you see images and videos of people that appear to have a lot of money, they always seem happy. Because of this, you can start to believe that more money leads to greater happiness.

Money Lie #3 is that what the media portrays as wealth isreal monetary wealth.

Money lie #4 told to teenagers is that their money decisions don’t really matter right now. But, the decisions you make and the habits you make now can have a significant impact on your financial future.

Money Lie #5 is that everything will eventually work itself out.

Many teenagers think that their financial life will magically take care of itself. Poor spending habits and debt will catch up with you. A lack of savings will catch up with you. Talk to adults, they will tell you. Youwill be responsible for the result of your money decisions.

Money Lie #6 told to teenagers is that they don’t need to know much about money.

Money Lie, #7 is the little bit of money I can give will not make a difference.

Money lies are everywhere. Don’t fall for them. They can lead you down a path of spiritual and financial ruin. Learn about and follow God’s design for money. Seek his truth about money and you will find that for which you are truly looking.

On today’s program we also answer a listener question:

I inherited about 300K. I put most of it in a mutual fund but have about 100K left. What should I do with this money?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

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

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

1 John 5:19 reads,We know that we are from God, and the whole world lies in the power of the evil one. It’s a scary thought, especially if you have children, as the world tries to lead them astray, often with money. Art Rainer joins us today to talk about 7 money lies teenagers are believing these days and to arm you with the truth. Art Rainer is a financial author and teacher, and vice president of The College at Southeastern in Wake Forest, North Carolina. Then it’s your calls at 800-525-7000.

Teenagers are being bombarded with lies about money. The world is consistently pouring into them its money principles, and they are accepted without very little questioning. Little do they know that what’s shaping their money mind is often toxic.

Money Lie #1 is that the Bible doesn’t really speak to money.Money can’t be compartmentalized. How you think about and manage money will affect most areas of your life.

Money Lie #2 is that money will make you happy.When you see images and videos of people that appear to have a lot of money, they always seem happy. Because of this, you can start to believe that more money leads to greater happiness.

Money Lie #3 is that what the media portrays as wealth isreal monetary wealth.

Money lie #4 told to teenagers is that their money decisions don’t really matter right now. But, the decisions you make and the habits you make now can have a significant impact on your financial future.

Money Lie #5 is that everything will eventually work itself out.

Many teenagers think that their financial life will magically take care of itself. Poor spending habits and debt will catch up with you. A lack of savings will catch up with you. Talk to adults, they will tell you. Youwill be responsible for the result of your money decisions.

Money Lie #6 told to teenagers is that they don’t need to know much about money.

Money Lie, #7 is the little bit of money I can give will not make a difference.

Money lies are everywhere. Don’t fall for them. They can lead you down a path of spiritual and financial ruin. Learn about and follow God’s design for money. Seek his truth about money and you will find that for which you are truly looking.

On today’s program we also answer a listener question:

I inherited about 300K. I put most of it in a mutual fund but have about 100K left. What should I do with this money?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

Developing a budget isn’t difficult if you know how much money you have to spend. But what if your income keeps changing? Then what do you do? Companies are using more contract workers these days and that often means irregular hours and pay. Budgeting on a variable income isn’t hard if you know a few tricks.

Spending less than you earn is the key to every financial success. It’s nearly impossible to stay out of debt and save without a spending plan. Proverbs 27:23 reads,Know well the condition of your flocks, and give attention to your herds.

Begin by tracking your expenses for 30 days. Capture every expense no matter how small. Think about the non-recurring expenses. Next, add these in with a monthly amount needed to have what’s necessary when that expense rolls around.

Then, take that 30 days of actual spending plus the non-recurring expenses and build a budget by category. The MoneyWise app will make quick work of that for you.

Bring your budget in line with your income and making sure that your spending reflects your goals and priorities.

You’ll also have to decide who manages the budget going forward. Sometimes the more detailed and organized person to do this is the wife, sometimes it’s the husband.

Here’s what you do about variableincome. Determine your average monthly income for the last six months. Ask, Can I reasonably expect to earn the same amount in the nextsix months? The goal is to arrive at a budget that can be covered by the average or slightly below average amount you expect to earn each month.

On today’s program we also answer some of your questions:

My wife got a life insurance policy after her dad passed. She’s been told she has to get a tax ID number before they can release the money to her. Is that accurate? Also, will any potentially unpaid medical bills come of that life insurance money?

Is there such a thing as a self-managed account? If so, do you have names of companies that may have something like that? I want to select the investments myself.

Do I have to do Medicare? Can I put it off or do I have to file something to let them know?

Are there any new options now with Social Security?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

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

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

Developing a budget isn’t difficult if you know how much money you have to spend. But what if your income keeps changing? Then what do you do? Companies are using more contract workers these days and that often means irregular hours and pay. Budgeting on a variable income isn’t hard if you know a few tricks.

Spending less than you earn is the key to every financial success. It’s nearly impossible to stay out of debt and save without a spending plan. Proverbs 27:23 reads,Know well the condition of your flocks, and give attention to your herds.

Begin by tracking your expenses for 30 days. Capture every expense no matter how small. Think about the non-recurring expenses. Next, add these in with a monthly amount needed to have what’s necessary when that expense rolls around.

Then, take that 30 days of actual spending plus the non-recurring expenses and build a budget by category. The MoneyWise app will make quick work of that for you.

Bring your budget in line with your income and making sure that your spending reflects your goals and priorities.

You’ll also have to decide who manages the budget going forward. Sometimes the more detailed and organized person to do this is the wife, sometimes it’s the husband.

Here’s what you do about variableincome. Determine your average monthly income for the last six months. Ask, Can I reasonably expect to earn the same amount in the nextsix months? The goal is to arrive at a budget that can be covered by the average or slightly below average amount you expect to earn each month.

On today’s program we also answer some of your questions:

My wife got a life insurance policy after her dad passed. She’s been told she has to get a tax ID number before they can release the money to her. Is that accurate? Also, will any potentially unpaid medical bills come of that life insurance money?

Is there such a thing as a self-managed account? If so, do you have names of companies that may have something like that? I want to select the investments myself.

Do I have to do Medicare? Can I put it off or do I have to file something to let them know?

Are there any new options now with Social Security?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

When is free money not so free? Maybe when it’s part of expedited child tax credit payments from the IRS. It’s all part of the American Rescue Plan passed by Congress earlier this year. Millions of American families have received these expedited payments in July and August. However, some may have to pay the piper for them next year at tax time.

While the legislation is no doubt helping cash-strapped Americans still suffering from COVID shutdowns, there’s a provision that could be a problem for many families when they have to file their 2021 returns.

As part of the law, the Child Tax Credit for 2021 was increased to get more help to more families.

Who’s eligible for these tax credits? Married couples earning up to $150,000 a year can qualify for the full $300 monthly credit per child while single parents filing as head of household are eligible if they make up to $112,500 a year.

Unfortunately, many families are likely to think that these monthly checks are like the previous stimulus payments. They’re not.These payments will besubtractedfrom the amount eligible families would normally receive when they file their 2021 returns. So in a sense, it’s like they’re taking out a loan from themselves that will have to be repaid at tax time.

Worse, the IRS says that depending on income it may demand reimbursement if a family receives overpayments for the child tax credit.

Though it is a bit of a mess, you do have a couple of options. Even though you’ve probably received payments in July and August, you can still stop the remaining payments that you’d have to refund the government next spring.

The other option is to just continue receiving the payments but don’t spendthem. Instead, put the money in an online savings account where you can earn a little bit of interest.

Proverbs 10:4 and 5 tells us, A slack hand causes poverty, but the hand of the diligent makes rich. He who gathers in summer is a prudent son.

On today’s program we also answer a couple of your questions:

What do you think about consolidation loans to help pay off credit cards?

My banker says that I should invest some of my money, maybe about $100,000, in mutual funds. What do you think?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

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