Debt can be a little bit like your weight. If you don’t monitor it, it can sneak up on you. Today, Rob West and Steve Moore talk about some warning signs not to ignore when it comes to debt. For example, when you’re reluctant to find out just much debt you really have, you probably have a bigger debt problem than you want to admit. If you find that these warning signs apply to you, be willing to acknowledge it. If there’s some shame involved, be truthful and be willing to be accountable. Next, Rob and Steve answer your questions at (800) 525-7000 and [email protected] about the following:

I’m 64, and we no longer have a retirement fund. I’m planning on working until I’m 70. How can I plan for my retirement?

I have two thirteen-year-old grandchildren, and I would like to begin putting some money away to help them with their college expenses. What is the best plan for savings like this?

I’m single with no dependents. There’s no one who would need my assets when I pass. How should I determine who should be the beneficiary of my will?

Be sure to click the link above to check out our website (MoneyWise.org) to connect with a Compass Coach or access our books, videos, or any of our free helpful resources. You can also find us on Facebook and get notifications about our weekly Facebook Live events. Thanks for your prayerful and financial support that helps keep MoneyWise on the air. And if you'd like to help, just go to the website and click the Donate tab at the top of the page.

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

Debt can be a little bit like your weight. If you dont monitor it, it can sneak up on you. Today, Rob West and Steve Moore talk about some warning signs not to ignore when it comes to debt. For example, when youre reluctant to find out just much debt you really have, you probably have a bigger debt problem than you want to admit. If you find that these warning signs apply to you, be willing to acknowledge it. If theres some shame involved, be truthful and be willing to be accountable. Next, Rob and Steve answer your questions at (800) 525-7000 and [email protected] about the following:

Im 64, and we no longer have a retirement fund. Im planning on working until Im 70. How can I plan for my retirement?

I have two thirteen-year-old grandchildren, and I would like to begin putting some money away to help them with their college expenses. What is the best plan for savings like this?

Im single with no dependents. Theres no one who would need my assets when I pass. How should I determine who should be the beneficiary of my will?

Be sure to click the link above to check out our website (MoneyWise.org) to connect with a Compass Coach or access our books, videos, or any of our free helpful resources. You can also find us on Facebook and get notifications about our weekly Facebook Live events. Thanks for your prayerful and financial support that helps keep MoneyWise on the air. And if you'd like to help, just go to the website and click the Donate tab at the top of the page.

1 Timothy 6:17-19

Don’t be a rich snob.Don’t be arrogant because you have cash in the bank.

Don’t put your hope in money or wealth which is uncertain.

Put your trust in God.You cannot serve two masters.

Enjoy your money.He is the source of our wealth.

Next, Rob and Steve answer questions at (800) 525-7000 [email protected] following:

From Desoto, Missouri., Wesley calls to ask if he tithe ten percent on a Workman’s Compensation settlement.

Lee from Lancaster, Pennsylvania wonders about using a 401(k) loan to pay for a home renovation versus using a home equity loan.

Catherine from Aberdeen, MD calls to find out if she should tithe on Designated Gifts she’s given to fulfill her mission work.

Do you have enough house?Do you have enough money?Do you know how much is enough?Master Your Money by Ron Blue will help you save, invest, give wisely, learn how to create a long term financial plan and much more.Find this and other resources when you click the Store button athttps://moneywise.org.

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

1 Timothy 6:17-19

Dont be a rich snob.Dont be arrogant because you have cash in the bank.

Dont put your hope in money or wealth which is uncertain.

Put your trust in God.You cannot serve two masters.

Enjoy your money.He is the source of our wealth.

Next, Rob and Steve answer questions at (800) 525-7000 [email protected] following:

From Desoto, Missouri., Wesley calls to ask if he tithe ten percent on a Workmans Compensation settlement.

Lee from Lancaster, Pennsylvania wonders about using a 401(k) loan to pay for a home renovation versus using a home equity loan.

Catherine from Aberdeen, MD calls to find out if she should tithe on Designated Gifts shes given to fulfill her mission work.

Do you have enough house?Do you have enough money?Do you know how much is enough?Master Your Money by Ron Blue will help you save, invest, give wisely, learn how to create a long term financial plan and much more.Find this and other resources when you click the Store button athttps://moneywise.org.

What do you do when you suddenly have extra cash on hand? Today on MoneyWise, Steve Moore and Rob West talk about what to do with a windfall. Rob says before you even get some "surprise money," you should make a plan for what you would do if you do get some extra cash. There are several types of financial plans, but the one to start with is the Spending Plan so you know ahead of time where all of your money will go each month.Next you need a broader plan for keeping your money in balance. We believe in living debt-free so, if you are in debt, you need a plan to pay off that debt in a reasonable amount of time. Ideally, that would include a plan to have paid off your house by the time you retire. Saving for the future is also a Biblical principle so this should also be in the plan.Steve reminds us that while all of these goals are important, it takes awhile to reach them. Rob agrees, but says that by putting the plans in place, we then have a framework from which we can determine where to put that extra cash if and when it appears.Next Steve and Rob talk to callers at 800-525+7000:Jeff from Kansas City, MO, called on behalf of his daughter who is looking to rent a place to live. She has found places through property management companies. Jeff found a few for her being rented by individuals. She wants to build credit and thought the property management option might be better for that. Rob doesn't think it will make much difference because FICO (the company that provides most credit scores) says that fewer than 1% of credit files even contain rental entries. He suggests not letting the credit score issue affect the decision but, instead, find the rental that best fits her needs and her budget. Then, to help build credit, get a secured credit card that is secured by money being held on deposit. Use it each month, but only for things already in your budget, and pay it off in full each month.Jackie from West Chicago, IL, just got laid off. She has a new job and is wondering if she should take the money out of the 401k at her old job or leave it where it is. She is not participating in the 401k at her new job. She did mention having some things she needs money for. Rob explains the options available to her including starting an IRA and rolling the 401k money over to that. He suggestsnotusing 401k money for home repairs or other expenses because of the taxes and penalties she would have to pay and the loss of return on her investments.Warren from Zephyr Hills, FL, is married with two kids. They don't make a lot of money and find that with both of them working, they're spending a bit more on eating out and gas, plus the stress level is higher. Would it be worth considering having her not work outside the home and, instead, have her stay home with the children. Rob suggest they put together a reasonable budget based just on the husband's income, and that they also track some of the extra expenses that come from both of them working, then commit this to prayer and see what God reveals to them. (A free MoneyWise Coach can help with this process, too. You can connect with a coach at MoneyWise.org.)Linda from Chicago, IL, is married to a man with a terminal illness. She needs to get familiar with the family's finances. Her husband has a SERP (Supplimental Executive Retirement Plan). He also has a 401k. Rob says she needs to learn about the various parameters in the SERP so that she will know how and when money can be distributed. Regarding the 401k, as long as the beneficiary designations are handled properly, the distribution is pretty straight forward. Rob suggests that it would be worth it to contact a financial professional to review all of this now while changes can still be made. (If you would like to find a financial professional with the Certified Kingdom Advisor designation, you can find one through our website, MoneyWise.org, or at KingdomAdvisors.org.)At the end of today's program, Steve mentioned Howard Dayton's book, "Money and Marriage God's Way," a great resource for getting on the same financial page with your spouse so the two can become one in an area that is so often divisive. You can find "Money and Marriage God's Way" on our website, MoneyWise.org. While there, please consider becoming one of our ministry partners by making a tax-deductible donation of any size to help underwrite the cost of producing this program and providing resources like the MoneyWise Coaches. Just click the Donate button at the top of the page, and thanks for listening to MoneyWise!

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

What do you do when you suddenly have extra cash on hand? Today on MoneyWise, Steve Moore and Rob West talk about what to do with a windfall. Rob says before you even get some "surprise money," you should make a plan for what you would do if you do get some extra cash. There are several types of financial plans, but the one to start with is the Spending Plan so you know ahead of time where all of your money will go each month.Next you need a broader plan for keeping your money in balance. We believe in living debt-free so, if you are in debt, you need a plan to pay off that debt in a reasonable amount of time. Ideally, that would include a plan to have paid off your house by the time you retire. Saving for the future is also a Biblical principle so this should also be in the plan.Steve reminds us that while all of these goals are important, it takes awhile to reach them. Rob agrees, but says that by putting the plans in place, we then have a framework from which we can determine where to put that extra cash if and when it appears.Next Steve and Rob talk to callers at 800-525+7000:Jeff from Kansas City, MO, called on behalf of his daughter who is looking to rent a place to live. She has found places through property management companies. Jeff found a few for her being rented by individuals. She wants to build credit and thought the property management option might be better for that. Rob doesn't think it will make much difference because FICO (the company that provides most credit scores) says that fewer than 1% of credit files even contain rental entries. He suggests not letting the credit score issue affect the decision but, instead, find the rental that best fits her needs and her budget. Then, to help build credit, get a secured credit card that is secured by money being held on deposit. Use it each month, but only for things already in your budget, and pay it off in full each month.Jackie from West Chicago, IL, just got laid off. She has a new job and is wondering if she should take the money out of the 401k at her old job or leave it where it is. She is not participating in the 401k at her new job. She did mention having some things she needs money for. Rob explains the options available to her including starting an IRA and rolling the 401k money over to that. He suggestsnotusing 401k money for home repairs or other expenses because of the taxes and penalties she would have to pay and the loss of return on her investments.Warren from Zephyr Hills, FL, is married with two kids. They don't make a lot of money and find that with both of them working, they're spending a bit more on eating out and gas, plus the stress level is higher. Would it be worth considering having her not work outside the home and, instead, have her stay home with the children. Rob suggest they put together a reasonable budget based just on the husband's income, and that they also track some of the extra expenses that come from both of them working, then commit this to prayer and see what God reveals to them. (A free MoneyWise Coach can help with this process, too. You can connect with a coach at MoneyWise.org.)Linda from Chicago, IL, is married to a man with a terminal illness. She needs to get familiar with the family's finances. Her husband has a SERP (Supplimental Executive Retirement Plan). He also has a 401k. Rob says she needs to learn about the various parameters in the SERP so that she will know how and when money can be distributed. Regarding the 401k, as long as the beneficiary designations are handled properly, the distribution is pretty straight forward. Rob suggests that it would be worth it to contact a financial professional to review all of this now while changes can still be made. (If you would like to find a financial professional with the Certified Kingdom Advisor designation, you can find one through our website, MoneyWise.org, or at KingdomAdvisors.org.)At the end of today's program, Steve mentioned Howard Dayton's book, "Money and Marriage God's Way," a great resource for getting on the same financial page with your spouse so the two can become one in an area that is so often divisive. You can find "Money and Marriage God's Way" on our website, MoneyWise.org. While there, please consider becoming one of our ministry partners by making a tax-deductible donation of any size to help underwrite the cost of producing this program and providing resources like the MoneyWise Coaches. Just click the Donate button at the top of the page, and thanks for listening to MoneyWise!

Today on Money Wise, Steve Moore and Rob West review some frivolous lawsuits in our country that have happened in the past couple years. Next, they take a look at what the Bible has to say about lawsuits and suing another Christian. Next, they answer your questions at (800) 525-7000 and [email protected] about the following:

-My husband and I were in ministry for a while and weren’t able to save a lot during that time. What is the best way for us to pay off the remainder of our mortgage? We have about 1K extra each month.

-I am in my 70s. I recently took out a whole life insurance policy to pay for funeral expenses. Was this a wise idea?

-My husband and I have been married 10 years. I have never known his income, but he has known mine. How can I break through this barrier so we can come up with a logical budget?

-What is the best way to start a budget and start saving for my family?

Be sure to check out our new website at moneywise.org to connect with a Compass Coach or access our books, videos, or any of our free helpful resources. You can also find us on Facebook and get notifications about our weekly Facebook Live events. Thanks for your prayerful and financial support that helps keep MoneyWise on the air. And if you'd like to help, just go to the website and click the Donate tab at the top of the page.

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

Today on Money Wise, Steve Moore and Rob West review some frivolous lawsuits in our country that have happened in the past couple years. Next, they take a look at what the Bible has to say about lawsuits and suing another Christian. Next, they answer your questions at (800) 525-7000 and [email protected] about the following:

-My husband and I were in ministry for a while and werent able to save a lot during that time. What is the best way for us to pay off the remainder of our mortgage? We have about 1K extra each month.

-I am in my 70s. I recently took out a whole life insurance policy to pay for funeral expenses. Was this a wise idea?

-My husband and I have been married 10 years. I have never known his income, but he has known mine. How can I break through this barrier so we can come up with a logical budget?

-What is the best way to start a budget and start saving for my family?

Be sure to check out our new website at moneywise.org to connect with a Compass Coach or access our books, videos, or any of our free helpful resources. You can also find us on Facebook and get notifications about our weekly Facebook Live events. Thanks for your prayerful and financial support that helps keep MoneyWise on the air. And if you'd like to help, just go to the website and click the Donate tab at the top of the page.

We believe God's wants all of us to be financially free: free from debt, free from financial worry, and free to honor God with our money when He directs us. Today on MoneyWise, Rob West and Steve Moore discuss True Financial Freedom - what it is, and how to get there. Rob lays out steps you can take to1. Settle the Ownership Decision. God owns everything. We just manage it. Rob mentions the Compass small group study, Navigating Your Finances God's Way, in which you actually sign a quick claim deed for everything you have transferring the ownership back to God. Then make sure you live like you believe it. Just saying God owns it all isn't the same thing as living like He owns it all. Seek God's wisdom and direction in every financial decision you make.2. Make a financial plan. This includes writing out your long term goals and creating a budget -- a monthly spending plan -- so you control where your money goes rather than just seeing where it went.3. Eliminate debt and then avoid debt in the future.4. Manage how you use your time. Stewardship isn't just about money.5. Make the sacrifices that enable you to work toward the goals you laid out in #2.6. Establish and maintain the proper priorities. We want to surrender all to the Lord, but we need to make sure our priorities are aligned with our values and with a Biblical worldview.Proverbs 21:5 says, "The plans of the diligent lead to profit as surely as haste leads to poverty."Next, Steve and Rob take listener calls:Laura from LaGrange, GA asks about annuities: Her aunt passed away and left her an annuity. Her aunt's financial planner sells annuities and that's where he has most of her money invested. Should she leave it, or pull it out and invest elsewhere? Rob explains what an annuity is (an investment wrapper that can include a variety of investments), and tells her about the costs of pulling the money out, and the options she would have if she does pull it out. He says she does need a second opinion from an independent financial advisor. (You can find one in your area through MoneyWise.org or KingdomAdvisors.org.)Wendy from Oshkosh, WI, is about five years from retirement. All of her money ($1.5 million) is invested in her 401k. She is wondering if more diversification would be wise. Rob explains that she doesn't have the option of moving money from the 401k without significant expense as long as she is employed at this company. However, she should consider how her money is invested within the 401k. He suggested a target portfolio within the plan that would keep her investments properly balanced based on her age and the time until she retires.Sherry from Bolingbrook, IL, is a widow on disability. She inherited her husband's 401K and understands she can pull money from it (approx $140k) without penalty. She's wondering if it would be okay to pull money from the 401k and move it to another investment she has that's getting a better return. Rob reviews some of the rules about inherited IRAs and reminds Sherry that when she takes money out, she would be subject to taxes that might be owed on that money but, more than likely, would not have to pay any penalties. However, he cautions her to have a spending plan in place so that any withdrawals are done according to a plan and not just when needs arise. He suggests looking a couple of years out first, and then also plan for anticipated future needs beyond that.Lastly, Steve and Rob tackle an email question from a listener who wants to tithe, but her husband does not. Rob says that the Lord knows the listener's heart to give, but likely cares more about her marriage than her giving at this point. He suggests committing it to prayer and asking the husband to join her for a couple of months in getting to know God's way of handling money. (Riob recommended the "Navigating Your Finances God's Way" small group study from Compass1.org.) The goal is not to convince him to see it her way, but to understand God's heart for their finances. Perhaps in the process, her husband's heart with change in the area of giving.At the end of today's program, Steve recommended Howard Dayton's book, "Your Money Counts" which can be found on our website, MoneyWise.org. While there, please consider becoming one of our ministry partners by making a tax-deductible donation of any size to help underwrite the cost of producing this program. Thanks for listening to MoneyWise!

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

We believe God's wants all of us to be financially free: free from debt, free from financial worry, and free to honor God with our money when He directs us. Today on MoneyWise, Rob West and Steve Moore discuss True Financial Freedom - what it is, and how to get there. Rob lays out steps you can take to1. Settle the Ownership Decision. God owns everything. We just manage it. Rob mentions the Compass small group study, Navigating Your Finances God's Way, in which you actually sign a quick claim deed for everything you have transferring the ownership back to God. Then make sure you live like you believe it. Just saying God owns it all isn't the same thing as living like He owns it all. Seek God's wisdom and direction in every financial decision you make.2. Make a financial plan. This includes writing out your long term goals and creating a budget -- a monthly spending plan -- so you control where your money goes rather than just seeing where it went.3. Eliminate debt and then avoid debt in the future.4. Manage how you use your time. Stewardship isn't just about money.5. Make the sacrifices that enable you to work toward the goals you laid out in #2.6. Establish and maintain the proper priorities. We want to surrender all to the Lord, but we need to make sure our priorities are aligned with our values and with a Biblical worldview.Proverbs 21:5 says, "The plans of the diligent lead to profit as surely as haste leads to poverty."Next, Steve and Rob take listener calls:Laura from LaGrange, GA asks about annuities: Her aunt passed away and left her an annuity. Her aunt's financial planner sells annuities and that's where he has most of her money invested. Should she leave it, or pull it out and invest elsewhere? Rob explains what an annuity is (an investment wrapper that can include a variety of investments), and tells her about the costs of pulling the money out, and the options she would have if she does pull it out. He says she does need a second opinion from an independent financial advisor. (You can find one in your area through MoneyWise.org or KingdomAdvisors.org.)Wendy from Oshkosh, WI, is about five years from retirement. All of her money ($1.5 million) is invested in her 401k. She is wondering if more diversification would be wise. Rob explains that she doesn't have the option of moving money from the 401k without significant expense as long as she is employed at this company. However, she should consider how her money is invested within the 401k. He suggested a target portfolio within the plan that would keep her investments properly balanced based on her age and the time until she retires.Sherry from Bolingbrook, IL, is a widow on disability. She inherited her husband's 401K and understands she can pull money from it (approx $140k) without penalty. She's wondering if it would be okay to pull money from the 401k and move it to another investment she has that's getting a better return. Rob reviews some of the rules about inherited IRAs and reminds Sherry that when she takes money out, she would be subject to taxes that might be owed on that money but, more than likely, would not have to pay any penalties. However, he cautions her to have a spending plan in place so that any withdrawals are done according to a plan and not just when needs arise. He suggests looking a couple of years out first, and then also plan for anticipated future needs beyond that.Lastly, Steve and Rob tackle an email question from a listener who wants to tithe, but her husband does not. Rob says that the Lord knows the listener's heart to give, but likely cares more about her marriage than her giving at this point. He suggests committing it to prayer and asking the husband to join her for a couple of months in getting to know God's way of handling money. (Riob recommended the "Navigating Your Finances God's Way" small group study from Compass1.org.) The goal is not to convince him to see it her way, but to understand God's heart for their finances. Perhaps in the process, her husband's heart with change in the area of giving.At the end of today's program, Steve recommended Howard Dayton's book, "Your Money Counts" which can be found on our website, MoneyWise.org. While there, please consider becoming one of our ministry partners by making a tax-deductible donation of any size to help underwrite the cost of producing this program. Thanks for listening to MoneyWise!