Once upon a time there was a rebellious drummer who insisted on breaking all the rules. As you might expect, things didn’t turn out well for him, there were serious re-percussions.

Okay, pun intended, but usually there are consequences when you break the rules, especially those involving money. Today, Kingdom Advisors President Rob West has a list of financial guidelines you should stay within, then it’s your calls at 800-525-7000.

Live on less than you earn. If you don’t there’s no way to save and you’ll almost always run up debt.

Buy term life insurance to protect your loved ones should something happen to you. Avoid mixing insurance with investments, as you do with whole life policies. Take the difference between term and whole life premiums and invest it separately.

Make it a point, at least once a year, to request rate reductions if you’re carrying debt. You can sometimes have your credit card interest rate lowered by making a simple phone call.

Ignoreinvesting experts on TV, especially if they sing the praises of an individual stock. But at the same time keep most of your investments in stocks until you’re within 10 years of retirement.But not individual stocks instead, invest in mutual or index funds that cover the market as a whole. Assessing the profitability of single companies is too complicated for the average investor.

Buy cars for the right reason, reliability and fuel efficiency, not to show off to the neighbors.

Don’t touch your retirement savings. Throughout your working years, there will be countless times when it seems like a good idea to tap into your 401k or IRA. It almost never is. Instead, work as hard as you can to build an emergency fund of 3 to 6 months living expenses.

he more you can avoid advertising the less likely you’ll be to make impulse purchases. Most of it is designed to make you buy things you don’t need with money you don’t have.

Look for hobbies that have little or no ongoing costs. An example might be teaching yourself how to play a musical instrument or taking a class on building a website or cooking.

Don’t gamble. That means not playing the lottery. You have better odds of being hit by lightning twice than having your picture taken with that big check.

Here are some questions we answered from our callers on today’s program:

I have a credit card that has 85K debt. I have 4K in savings and I am unemployed. Should I take money from my savings and try to start paying off the debt?

What is the real advantage of a savings account specifically for college?

Is there any way to hold property in a 401K status?I have a 20-year mortgage that I pay biweekly. They told me I might save a year if I continue doing this. What is the best way to pay it off quickly?

Ask your questions at (800) 525-7000 or email them [email protected]. Visit our website atmoneywise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources.

Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

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

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

Once upon a time there was a rebellious drummer who insisted on breaking all the rules. As you might expect, things didnt turn out well for him, there were serious re-percussions.

Okay, pun intended, but usually there are consequences when you break the rules, especially those involving money. Today, Kingdom Advisors President Rob West has a list of financial guidelines you should stay within, then its your calls at 800-525-7000.

Live on less than you earn. If you dont theres no way to save and youll almost always run up debt.

Buy term life insurance to protect your loved ones should something happen to you. Avoid mixing insurance with investments, as you do with whole life policies. Take the difference between term and whole life premiums and invest it separately.

Make it a point, at least once a year, to request rate reductions if youre carrying debt. You can sometimes have your credit card interest rate lowered by making a simple phone call.

Ignoreinvesting experts on TV, especially if they sing the praises of an individual stock. But at the same time keep most of your investments in stocks until youre within 10 years of retirement.But not individual stocks instead, invest in mutual or index funds that cover the market as a whole. Assessing the profitability of single companies is too complicated for the average investor.

Buy cars for the right reason, reliability and fuel efficiency, not to show off to the neighbors.

Dont touch your retirement savings. Throughout your working years, there will be countless times when it seems like a good idea to tap into your 401k or IRA. It almost never is. Instead, work as hard as you can to build an emergency fund of 3 to 6 months living expenses.

he more you can avoid advertising the less likely youll be to make impulse purchases. Most of it is designed to make you buy things you dont need with money you dont have.

Look for hobbies that have little or no ongoing costs. An example might be teaching yourself how to play a musical instrument or taking a class on building a website or cooking.

Dont gamble. That means not playing the lottery. You have better odds of being hit by lightning twice than having your picture taken with that big check.

Here are some questions we answered from our callers on todays program:

I have a credit card that has 85K debt. I have 4K in savings and I am unemployed. Should I take money from my savings and try to start paying off the debt?

What is the real advantage of a savings account specifically for college?

Is there any way to hold property in a 401K status?I have a 20-year mortgage that I pay biweekly. They told me I might save a year if I continue doing this. What is the best way to pay it off quickly?

Ask your questions at (800) 525-7000 or email them [email protected]. Visit our website atmoneywise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources.

Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion!Remember that its your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

They say every dark cloud has a silver lining, and the coronavirus pandemic has been a very dark cloud! But experts see at least one upside: the way people are handling their money. Yessiree, the COVID crisis and resulting economic turmoil are changing the way many people manage their finances for the better. Will it last? Today on MoneyWise, Kingdom Advisors President Rob West explains these changes.

Three areas of our financial life have been deeply affected by the ongoing economic turmoil. The first is the inescapable need for money in the bank to cover financial setbacksyour emergency fund. Financial advisors often have a hard time convincing clients who haven’t experienced a real financial emergency that they need to keep cash readily available. But now, as they see family, friends, and neighbors losing jobs or having their hours cut, it’s easier to make the case.

Just as we learned that it’s wise to put money into savings, it’s also a good idea to put something into your pantry. The pandemic has caused major disruptions in the supply chain of basic commodities. The images of empty store shelves are still fresh in our minds and they caused a lot of people to panic. I think we can expect many of us to start keeping a reserve of storable items on hand.

Financial advisors are reporting a renewed interest in budgeting, seeing people taking a much closer look at spending than they did before the pandemic hit. We all know it’s difficult to change spending habits, but the coronavirus caused major lifestyle changes. Stuck at home for months, millions of Americans have had to curtail or eliminate vacations, eating out, and all sorts of entertainment activities.

Here are some questions we answered from our callers on today’s program:

I recently sold some shared property.How do I offset the capital gains tax for the upcoming year?

I’m 62 and want to retire soon. How wise is it to start collecting social security now? Should I instead wait until I’m 67?

I’ve been collecting regular unemployment as well as the added $600 unemployment per week from the government due to COVID. How to I figure the taxes on all this?

Ask your questions at (800) 525-7000 or email them [email protected]. Visit our website atmoneywise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources.

Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

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

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

They say every dark cloud has a silver lining, and the coronavirus pandemic has been a very dark cloud! But experts see at least one upside: the way people are handling their money. Yessiree, the COVID crisis and resulting economic turmoil are changing the way many people manage their finances for the better. Will it last? Today on MoneyWise, Kingdom Advisors President Rob West explains these changes.

Three areas of our financial life have been deeply affected by the ongoing economic turmoil. The first is the inescapable need for money in the bank to cover financial setbacksyour emergency fund. Financial advisors often have a hard time convincing clients who havent experienced a real financial emergency that they need to keep cash readily available. But now, as they see family, friends, and neighbors losing jobs or having their hours cut, its easier to make the case.

Just as we learned that its wise to put money into savings, its also a good idea to put something into your pantry. The pandemic has caused major disruptions in the supply chain of basic commodities. The images of empty store shelves are still fresh in our minds and they caused a lot of people to panic. I think we can expect many of us to start keeping a reserve of storable items on hand.

Financial advisors are reporting a renewed interest in budgeting, seeing people taking a much closer look at spending than they did before the pandemic hit. We all know its difficult to change spending habits, but the coronavirus caused major lifestyle changes. Stuck at home for months, millions of Americans have had to curtail or eliminate vacations, eating out, and all sorts of entertainment activities.

Here are some questions we answered from our callers on todays program:

I recently sold some shared property.How do I offset the capital gains tax for the upcoming year?

Im 62 and want to retire soon. How wise is it to start collecting social security now? Should I instead wait until Im 67?

Ive been collecting regular unemployment as well as the added $600 unemployment per week from the government due to COVID. How to I figure the taxes on all this?

Ask your questions at (800) 525-7000 or email them [email protected]. Visit our website atmoneywise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources.

Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion!Remember that its your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

The cable channels are full of shows claiming that home renovations will get you a better price when you sell. The truth is that not every project pays off. (So much for reality TV!) If you’ve ever done it, you know that remodeling your house is an expensive proposition. Today on MoneyWise, Kingdom Advisors President Rob West reveals some projects where caution is advised.

According to a survey by the National Association of Realtors, nearly $400 billion a year is spent on home renovations. Home Advisor says that on the low end, the average remodeling project runs from $15,000 to $45,000. On the high end it could run all the way up to $200,000!

What doesn’t pay off is an in-ground swimming pool. It’s a great way to beat the summer heat, but consider the cost before you get your feet wet. Installing a pool could cost you around $50,000! So you really have to enjoy taking that dip. Add to that the extra cost of maintenance and insurance. And for all of that, the survey showed you’ll get back just 43% of what you spent.

Installing new carpeting throughout the house. You’d think that would be a plus, but it could actually lower your home’s value! Buyers don’t like carpet; maybe because it tends to gather dirt and germs? But if they do like carpet, what are the odds they’ll like the color you chose? A much better alternative is the more expensive wood flooring. But the survey showed that it’ll net you about a 7% return on your investment.

Master bedroom. Some folks like to expand this room by moving a wall and decreasing space in another room or they’ll put in fancy stuff like french doors and a gas fireplace. But the survey shows that the more you spend, the less you’ll get in return at the closing table, with the average return of just about 50% of what you spent on that master bedroom. Instead, consider a fresh coat of paint and maybe upgrading a few fixtures to snazz up this room.

You often hear that the kitchen sells the house. And while you don’t want to have run down appliances and beat up cabinets, a major kitchen renovation could run well over $100,000. The survey showed that a major kitchen renovation returns just over 50% of its cost. To some extent, the less you spend on a kitchen renovation, the greater your return. A minor overhaul would cost just over $20,000, with a return of over 80%. So even then, you don’t get all of your money back.

Our fifth and final home renovation project that won’t pay off is a sunroom. It can be a great place to hang out in nice weatherletting sunlight in and keeping the bugs out. But with an average installation cost of $30,000, it’s a losing proposition as far as return on investment, which is often less than 50%.

Here are some questions we answered from our callers on today’s program:

I have $200,000 in savings. What’s the best way to invest this so I can supplement some lost income?

We just received $55,000 in inheritance. What’s the best thing to do with this?

I want to pay off all of my high debt bills. Is there a good technique to do this?

Ask your questions at (800) 525-7000 or email them [email protected]. Visit our website atmoneywise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources.

Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

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

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

The cable channels are full of shows claiming that home renovations will get you a better price when you sell. The truth is that not every project pays off. (So much for reality TV!) If youve ever done it, you know that remodeling your house is an expensive proposition. Today on MoneyWise, Kingdom Advisors President Rob West reveals some projects where caution is advised.

According to a survey by the National Association of Realtors, nearly $400 billion a year is spent on home renovations. Home Advisor says that on the low end, the average remodeling project runs from $15,000 to $45,000. On the high end it could run all the way up to $200,000!

What doesnt pay off is an in-ground swimming pool. Its a great way to beat the summer heat, but consider the cost before you get your feet wet. Installing a pool could cost you around $50,000! So you really have to enjoy taking that dip. Add to that the extra cost of maintenance and insurance. And for all of that, the survey showed youll get back just 43% of what you spent.

Installing new carpeting throughout the house. Youd think that would be a plus, but it could actually lower your homes value! Buyers dont like carpet; maybe because it tends to gather dirt and germs? But if they do like carpet, what are the odds theyll like the color you chose? A much better alternative is the more expensive wood flooring. But the survey showed that itll net you about a 7% return on your investment.

Master bedroom. Some folks like to expand this room by moving a wall and decreasing space in another room or theyll put in fancy stuff like french doors and a gas fireplace. But the survey shows that the more you spend, the less youll get in return at the closing table, with the average return of just about 50% of what you spent on that master bedroom. Instead, consider a fresh coat of paint and maybe upgrading a few fixtures to snazz up this room.

You often hear that the kitchen sells the house. And while you dont want to have run down appliances and beat up cabinets, a major kitchen renovation could run well over $100,000. The survey showed that a major kitchen renovation returns just over 50% of its cost. To some extent, the less you spend on a kitchen renovation, the greater your return. A minor overhaul would cost just over $20,000, with a return of over 80%. So even then, you dont get all of your money back.

Our fifth and final home renovation project that wont pay off is a sunroom. It can be a great place to hang out in nice weatherletting sunlight in and keeping the bugs out. But with an average installation cost of $30,000, its a losing proposition as far as return on investment, which is often less than 50%.

Here are some questions we answered from our callers on todays program:

I have $200,000 in savings. Whats the best way to invest this so I can supplement some lost income?

We just received $55,000 in inheritance. Whats the best thing to do with this?

I want to pay off all of my high debt bills. Is there a good technique to do this?

Ask your questions at (800) 525-7000 or email them [email protected]. Visit our website atmoneywise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources.

Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion!Remember that its your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

Humorist Will Rogers often wrote about wasting money. He once said, Too many people spend money to buy things they don’t want to impress people they don’t like. And of course, that one-liner would be even funnier if it weren’t so true. Today, financial planner and teacher Rob West talks about that and other ways we spend money foolishly.

The Wall Street Journal recently polled a group of personal finance experts, authors, and even a Nobel Prize winning economist about the things people waste money on in their view.

One of the biggest money wasters is something they call compensatory purchases. That’s a fancy name for keeping up with the Joneses. And it’s anything you spend money on to make other people think you’re successful.

Compensatory purchases would include luxury goods and high end clothing with visible logos to indicate you have money and status.

Next, is buying too much house. One of the experts explained that peoples’ thinking hasn’t caught up with technology that enables us to live comfortably with less space.

Another big money waster is buying a new car and especially if you’re just trying to impress someone. You’ll have to work 2 to 3 months just to make the payments and insurance. A better option for many people is a dependable late-model vehicle with low mileage.

The next money waster is a touchy one for many parents. It’s spending money on adult children for things they should be paying for like keeping them on your car insurance and cell phone plan.

Also mentioned was over-scheduling younger children with too many expensive activities. Better to have the kids focus on one or maybe two things they really enjoy because the cost of extracurricular activities continues to rise.

Here are some questions we answered from our callers on today’s program:

Once you retire, should you roll your 401K into an IRA?

I am 59 years old. My husband passed. He had insurance and I think I could join that health insurance group. What are my options?

I used to listen to Larry Burkett. I remember him telling listeners not to buy brand new cars unless they could get an employee discount. My husband used to work for a car dealership. What is your opinion on this?

I have 3 credit cards. Should I cancel them all at once, or individually?

My son has a double scholarship. One is paying for school and the other is going into his bank account. What should we do with this money?

Ask your questions at (800) 525-7000 or email them [email protected]. Visit our website atmoneywise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources.

Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

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

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

Humorist Will Rogers often wrote about wasting money. He once said, Too many people spend money to buy things they dont want to impress people they dont like. And of course, that one-liner would be even funnier if it werent so true. Today, financial planner and teacher Rob West talks about that and other ways we spend money foolishly.

The Wall Street Journal recently polled a group of personal finance experts, authors, and even a Nobel Prize winning economist about the things people waste money on in their view.

One of the biggest money wasters is something they call compensatory purchases. Thats a fancy name for keeping up with the Joneses. And its anything you spend money on to make other people think youre successful.

Compensatory purchases would include luxury goods and high end clothing with visible logos to indicate you have money and status.

Next, is buying too much house. One of the experts explained that peoples thinking hasnt caught up with technology that enables us to live comfortably with less space.

Another big money waster is buying a new car and especially if youre just trying to impress someone. Youll have to work 2 to 3 months just to make the payments and insurance. A better option for many people is a dependable late-model vehicle with low mileage.

The next money waster is a touchy one for many parents. Its spending money on adult children for things they should be paying for like keeping them on your car insurance and cell phone plan.

Also mentioned was over-scheduling younger children with too many expensive activities. Better to have the kids focus on one or maybe two things they really enjoy because the cost of extracurricular activities continues to rise.

Here are some questions we answered from our callers on todays program:

Once you retire, should you roll your 401K into an IRA?

I am 59 years old. My husband passed. He had insurance and I think I could join that health insurance group. What are my options?

I used to listen to Larry Burkett. I remember him telling listeners not to buy brand new cars unless they could get an employee discount. My husband used to work for a car dealership. What is your opinion on this?

I have 3 credit cards. Should I cancel them all at once, or individually?

My son has a double scholarship. One is paying for school and the other is going into his bank account. What should we do with this money?

Ask your questions at (800) 525-7000 or email them [email protected]. Visit our website atmoneywise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources.

Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion!Remember that its your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

The true purpose of every Christian is to glorify God in all we do. That poses a challenge when we invest. If only there was a way to check up on the companies we invest in, like a free screening tool. Well, fear not because such a tool exists and it allows you to peak inside the stocks that make up your portfolio. Today, host Rob West talks with financial expert Robert Netzly aboutinspireinsight.com.

Are we unwittingly allowing the Lord’s money to be invested in unbiblical places? What’s truly in our portfolios? We need to stop being oblivious to this!

Inspireinsight.comallows you to search for your financial product and to learn more about where your company, ETF, and mutual fund are invested. You get all the data, both good and bad.

We assign a proprietary score that ranks a company showing how they relate to Biblical values.

About 57% of the SP 500 has a positive impact score of companies in which the believer can safely invest.

All of our data comes from AI tech that daily scrapes the internet which filters through our database gleaning the important data and categorizing it into useful organization for you.

Here are a couple of questions we answered from our callers on today’s program:

What do you think about Kasasa checking accounts in which you have to keep a large sum of money but it gives you a high interest rate?

Should I refinance in light of the crisis that we’re in?

Ask your questions at (800) 525-7000 or email them [email protected]. Visit our website atmoneywise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources.

Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.

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

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

The true purpose of every Christian is to glorify God in all we do. That poses a challenge when we invest. If only there was a way to check up on the companies we invest in, like a free screening tool. Well, fear not because such a tool exists and it allows you to peak inside the stocks that make up your portfolio. Today, host Rob West talks with financial expert Robert Netzly aboutinspireinsight.com.

Are we unwittingly allowing the Lords money to be invested in unbiblical places? Whats truly in our portfolios? We need to stop being oblivious to this!

Inspireinsight.comallows you to search for your financial product and to learn more about where your company, ETF, and mutual fund are invested. You get all the data, both good and bad.

We assign a proprietary score that ranks a company showing how they relate to Biblical values.

About 57% of the SP 500 has a positive impact score of companies in which the believer can safely invest.

All of our data comes from AI tech that daily scrapes the internet which filters through our database gleaning the important data and categorizing it into useful organization for you.

Here are a couple of questions we answered from our callers on todays program:

What do you think about Kasasa checking accounts in which you have to keep a large sum of money but it gives you a high interest rate?

Should I refinance in light of the crisis that were in?

Ask your questions at (800) 525-7000 or email them [email protected]. Visit our website atmoneywise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources.

Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion!Remember that its your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab at the top of the page.