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

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

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.

A word to the wise from Proverbs 15:22,Without counsel plans fail, but with many advisers they succeed. On today’s MoneyWise,we’re seeking wise counsel for couples. And we’ve got more frequently asked questions for Howard Dayton, author ofMoney and Marriage God’s Way.

If I have credit card debt that my husband doesn't know about but am reluctant to tell him because I'm afraid he'll never trust me again, what should I do?

First, pray that the Lord would prepare him to receive this news well. Second, develop a plan to pay off the debt. Third, meet with him and tell him of your desire to be completely honest.

My wife wants her elderly parents to come live with us, but I think they should go to an assisted-living facility. How can we resolve this issue?

Pray together daily, asking the Lord to show you both what He wants to do. If you are reluctant to have them in your home because you can’t afford to renovate it or care for them, seek other solutions.

My husband and I both have been divorced and in previous marriages there was constant fighting about money. What can we do to avoid this in our marriage?

Discuss the issue of frequent arguments and focus on encouraging each other and creating a culture of celebration in your marriage.

My husband wants to buy a new car every three years even though we have to use lots of debt to do it. How can I show him in black-and-white that we should be buying used cars for cash?

Go online tobankrate.com/calculatorsand find the one that computes the compounding growth of savings. Review it with your husband so he can catch the vision of the financial impact of regular savings.

My wife is a compulsive spender. She wastes money on clothes and on her gambling addiction. What should I do?

Love her, encourage her to seek professional help with this gambling problem, and take control of the family finances for her protection and the family’s.

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

My wife and I are in a ton of debt. How do I get started to best eradicate this?

I’m looking to retire in the next 3 years. My employer has a cash balance retirement which means I can take the annuity or they’d just pay me out instead of that annuity. Does it make sense to pay off my home using the pay out?

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