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

According toMarriage.com, money is the second leading cause of divorce, after infidelity, and while money problems may not be the primary reason that couples split up, its often the last straw. Well, thats the conventional wisdom, but today well look at adifferentkind of wisdom to keep your marriage strong and healthy wisdom straight from the Bible. Our host Rob West talks with money, andmarriage, expert Howard Dayton for that.

In marriage, arguments over money usuallyarentarguments over money.

Ephesians 5:25:Husbands, love your wives, as Christ loved the church, and gave himself up for her.

If youre having problems in your marriage, look to Gods Word for the answer, because its always in there.

In todays show we also answer your questions:

I am about to retire. Should I take money out of my 401K and roll it into an IRA to keep it safer?

How do you calculate the required minimum distribution on a 401k?

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 atMoneyWise Mediafor 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.

Almost every state requires you to have auto insurance with a minimum amount of coverage in case you have an accident. What the laws don’t dictate is how much you have to pay for it. Car insurance premiums vary widely depending on a host of factors. But one thing most of them have in commonthey’re going up. Our host Rob West has a checklist of things you can do to keep your auto insurance premiums in check.

Though most states requireminimum coverage, that doesn’t mean it’s right for you. You really need adequate coverage to protect your assets in case you’re sued as a result of an accident.

Shop around. When your policy is set to expire, don’t just renew it automatically, review your policy and note the coverage. Next, start making phone calls to other insurers to see if they can beat the cost of those premiums. A few phone calls could save you hundreds of dollars a year! If you don’t think you’re up to the task, find an independent insurance broker to help you.

In most states you can lower premiums by raising your credit score.

Buying a late model used car can lower your premium costs by almost 20% compared to buying new. That’s just because repairing new cars is more expensive than repairing used ones.

Drop comprehensive and collision coverage on older vehicles. Cars always depreciate in value, and at a certain point your insurer will just total the vehicle if you have an accident. At that point, your payout probably won’t cover repair costs, so you won’t get your money’s worth from those higher premiums.

Take advantage of any discounts offered by your insurer. Most have a long list of them.

Drive safely! Obey the speed limit. Many insurers have discounts for going three years without a speeding ticket.

Pay-per-mile insurancemost of the big insurers now offer this. This tracks your mileage with a small plug-in device or a smartphone app. You pay a base rate plus a certain number of cents per mile, usually around a nickel.

On today’s program we also answer your questions:

I have some excess savings and want to manage it correctly. How should I invest it?

My husband and I are in our early 70s. We have whole life insurance. What options do we have?

Is it possible to get money back from life insurance?

A few years ago I co-signed for a loan to help my son through collage. How can I get my name off of it?

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 atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking 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

Almost every state requires you to have auto insurance with a minimum amount of coverage in case you have an accident. What the laws dont dictate is how much you have to pay for it. Car insurance premiums vary widely depending on a host of factors. But one thing most of them have in commontheyre going up. Our host Rob West has a checklist of things you can do to keep your auto insurance premiums in check.

Though most states requireminimum coverage, that doesnt mean its right for you. You really need adequate coverage to protect your assets in case youre sued as a result of an accident.

Shop around. When your policy is set to expire, dont just renew it automatically, review your policy and note the coverage. Next, start making phone calls to other insurers to see if they can beat the cost of those premiums. A few phone calls could save you hundreds of dollars a year! If you dont think youre up to the task, find an independent insurance broker to help you.

In most states you can lower premiums by raising your credit score.

Buying a late model used car can lower your premium costs by almost 20% compared to buying new. Thats just because repairing new cars is more expensive than repairing used ones.

Drop comprehensive and collision coverage on older vehicles. Cars always depreciate in value, and at a certain point your insurer will just total the vehicle if you have an accident. At that point, your payout probably wont cover repair costs, so you wont get your moneys worth from those higher premiums.

Take advantage of any discounts offered by your insurer. Most have a long list of them.

Drive safely! Obey the speed limit. Many insurers have discounts for going three years without a speeding ticket.

Pay-per-mile insurancemost of the big insurers now offer this. This tracks your mileage with a small plug-in device or a smartphone app. You pay a base rate plus a certain number of cents per mile, usually around a nickel.

On todays program we also answer your questions:

I have some excess savings and want to manage it correctly. How should I invest it?

My husband and I are in our early 70s. We have whole life insurance. What options do we have?

Is it possible to get money back from life insurance?

A few years ago I co-signed for a loan to help my son through collage. How can I get my name off of it?

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 atMoneyWise Mediafor 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.

Then he took his staff in his hand chose five smooth stones from the stream and with his sling in his hand, approached the Philistine. That’s1 Samuel 17:40 where David went out to do the impossibleslay Goliath. Do you ever feel like you’re facing overwhelming odds when trying to get out of debt? Kingdom Advisors President Rob West has some easy ways to improve those odds.

Pay a little more of your mortgage or car loan each month. Paying just$50 extra on a 30-year, $200,000 mortgage at 3.5% interest will cut your mortgage balance by over $12,000 and reduce the payoff time by 2-1/2 years! Just make sure the extra payment is applied to the principal each month. You can do the same with a car loan.

Organize your financial documents. One reason you may not feel you have control of your finances is because you’re afraid to see the big picture. By pushing through that fear to force yourself to get all of your credit card statements and other bills organized is a huge first step in getting your debt paid off.

Monitor your progress. It’s encouraging to see the headway you’re making paying down debt and watching your savings grow. There are plenty of free, online calculators you can use for debt reduction and retirement investing, too. And celebrate when you achieve a small goal (within your budget, of course)!

Thinkused.It’s easy to head out to the big box stores and buy furniture, appliances and clothing. But you can almost always find used things. It takes more time and effort, but the Internet has made it much easier to find quality used items. If you sharpen those skills and get in the habit of doing it, the savings are substantial.

Cancel something. Many unused subscriptions are digital. You may have signed up for an app during a free trial period and now you’re being charged every month. Go over your statements, hunt down unused subscriptions and cancel them.

VisitMoneySavingMom.com. Our friend, Crystal Paine, has made a career out of saving money and has loads of useful tips!

On today’s program we also answer your questions:

My wife and I are in our mid-20s and we have $50,000 in student debt but we both gross about $100,000 a year. Should I buy a house or rent it?

I’m paying an extra $1,000 a month to more quickly pay off my mortgage. Now I’m thinking that I should be investing that amount each month instead! What would you do?

Under what situation is it better to rent rather than to purchase a house?

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 atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking 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

Then he took his staff in his hand chose five smooth stones from the stream and with his sling in his hand, approached the Philistine. Thats1 Samuel 17:40 where David went out to do the impossibleslay Goliath. Do you ever feel like youre facing overwhelming odds when trying to get out of debt? Kingdom Advisors President Rob West has some easy ways to improve those odds.

Pay a little more of your mortgage or car loan each month. Paying just$50 extra on a 30-year, $200,000 mortgage at 3.5% interest will cut your mortgage balance by over $12,000 and reduce the payoff time by 2-1/2 years! Just make sure the extra payment is applied to the principal each month. You can do the same with a car loan.

Organize your financial documents. One reason you may not feel you have control of your finances is because youre afraid to see the big picture. By pushing through that fear to force yourself to get all of your credit card statements and other bills organized is a huge first step in getting your debt paid off.

Monitor your progress. Its encouraging to see the headway youre making paying down debt and watching your savings grow. There are plenty of free, online calculators you can use for debt reduction and retirement investing, too. And celebrate when you achieve a small goal (within your budget, of course)!

Thinkused.Its easy to head out to the big box stores and buy furniture, appliances and clothing. But you can almost always find used things. It takes more time and effort, but the Internet has made it much easier to find quality used items. If you sharpen those skills and get in the habit of doing it, the savings are substantial.

Cancel something. Many unused subscriptions are digital. You may have signed up for an app during a free trial period and now youre being charged every month. Go over your statements, hunt down unused subscriptions and cancel them.

VisitMoneySavingMom.com. Our friend, Crystal Paine, has made a career out of saving money and has loads of useful tips!

On todays program we also answer your questions:

My wife and I are in our mid-20s and we have $50,000 in student debt but we both gross about $100,000 a year. Should I buy a house or rent it?

Im paying an extra $1,000 a month to more quickly pay off my mortgage. Now Im thinking that I should be investing that amount each month instead! What would you do?

Under what situation is it better to rent rather than to purchase a house?

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 atMoneyWise Mediafor 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.

Whether you’re just learning how to handle finances or you’ve been at it for decades, you may still have a few blind spots. Rob West and Steve Moore reveal several of them because the old adage What you don’t know won’t hurt you simply isn’t true.Here’s their list:

Most of us learned something about money management good or bad from our parents. If your parents were prudent, living within their means, staying out of debt and saving for the future, the odds are good that you’ve picked up some of those practices, as well.On the other hand, if your parents haven’t managed money well, either you’re following in their footsteps or you’ve resolved never to repeat those mistakes.

A four-year college degree is no longer a guarantee of financial freedom and, without careful planning, it can actually lead to financial bondage in the form of student debt. Proverbs 22:7, ... the borrower is slave to the lender.

You can’t predict the future. That means, if you’re waiting for something to happen before you can start paying off debt, or saving, that day may never come.Proverbs 21:7, Do not boast about tomorrow, for you do not know what a day may bring forth. That means we only have power to act today, so never delay in getting your finances in order.

There’s plenty of bad thinking about money. For example, a lot of people think the Bible says thatmoneyis the root of all evil. 1 Timothy 6:10 actually says, theloveof money is the root of all evil. Money has no moral character. It can be used for good or evil.

Next, they answer questions at (800) 525-7000 and [email protected] about the following:

In filing my 2019 tax return, I reviewed my 2018 return and discovered an error.What do I do to get this corrected?And do I need to fix 2018’s return before file the return for 2019?

Couple is working to become debt-free.Husband is about to turn 59 .Given that he can withdraw money from his 401k without penalty soon, should he do that to pay off the debt?

Mom has two young kids for whom she has set up a couple of investment accounts.Now that they’re getting a little older, she wants to start teaching them about investing.How and where should she begin?

Caller’s family has been collectively helping another family member who is experiencing financial problems due to high medical expenses.As such, the caller has gotten behind in paying off her own credit card debt.How should she proceed to get that taken care of and is Christian Credit Counselors a good solution for her?(https://www.christiancreditcounselors.org)

Remember to visit our website at MoneyWise.org to hear past programs, connect with a MoneyWise Coach, learn how to become a MoneyWise Coach, or access our books and many free helpful resources.If you’re active on social media, you can find us on Facebook (MoneyWise Media) and join the conversation. 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

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

Whether youre just learning how to handle finances or youve been at it for decades, you may still have a few blind spots. Rob West and Steve Moore reveal several of them because the old adage What you dont know wont hurt you simply isnt true.Heres their list:

Most of us learned something about money management good or bad from our parents. If your parents were prudent, living within their means, staying out of debt and saving for the future, the odds are good that youve picked up some of those practices, as well.On the other hand, if your parents havent managed money well, either youre following in their footsteps or youve resolved never to repeat those mistakes.

A four-year college degree is no longer a guarantee of financial freedom and, without careful planning, it can actually lead to financial bondage in the form of student debt. Proverbs 22:7, ... the borrower is slave to the lender.

You cant predict the future. That means, if youre waiting for something to happen before you can start paying off debt, or saving, that day may never come.Proverbs 21:7, Do not boast about tomorrow, for you do not know what a day may bring forth. That means we only have power to act today, so never delay in getting your finances in order.

Theres plenty of bad thinking about money. For example, a lot of people think the Bible says thatmoneyis the root of all evil. 1 Timothy 6:10 actually says, theloveof money is the root of all evil. Money has no moral character. It can be used for good or evil.

Next, they answer questions at (800) 525-7000 and [email protected] about the following:

In filing my 2019 tax return, I reviewed my 2018 return and discovered an error.What do I do to get this corrected?And do I need to fix 2018s return before file the return for 2019?

Couple is working to become debt-free.Husband is about to turn 59 .Given that he can withdraw money from his 401k without penalty soon, should he do that to pay off the debt?

Mom has two young kids for whom she has set up a couple of investment accounts.Now that theyre getting a little older, she wants to start teaching them about investing.How and where should she begin?

Callers family has been collectively helping another family member who is experiencing financial problems due to high medical expenses.As such, the caller has gotten behind in paying off her own credit card debt.How should she proceed to get that taken care of and is Christian Credit Counselors a good solution for her?(https://www.christiancreditcounselors.org)

Remember to visit our website at MoneyWise.org to hear past programs, connect with a MoneyWise Coach, learn how to become a MoneyWise Coach, or access our books and many free helpful resources.If youre active on social media, you can find us on Facebook (MoneyWise Media) and join the conversation. 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.

It’s often said in jest that nothing in life is certain but death and taxes. It’s a funny line though hardly true! Something else in life is certain, every month you’ll shell out quite a bit of money for utilities. We usually think of utilities as fixed expenses. But when you realize what you’re paying for them you might begin to question how fixed they really are. Kingdom Advisors President Rob West has some numbers.

When you add up the cost of electricity, gas, water, Internet and cable, the average monthly cost is $400. But when you multiply it by 12 to get the annual cost, it’s much morearound $4,800. This will vary depending on where you live and all kinds of other factors.

Install a smart thermostat to regulate your home’s temperature. Also, begin replacing light bulbs with ones that are more energy-efficient. They cost more but pay for themselves over time.And if your water heater is more than 10 years old, replace it with a higher-efficiency model.

Anything else you can do to reduce water usage will help lower your costs. Do you leave the water running when you brush your teeth? If so, you’re wasting about four gallons of water. That means a family of four brushing twice a day would waste almost 1,000 gallons a month! The average shower lasts 8 minutes using about 17 gallons of water. The average family of four will use more than 2,000 gallons a month. Shaving just one minute from the average shower could save about 100 gallons a month.

Mobile phones. Plans may cost around $120 a month. A typical family of four could pay up to twice that, $240 a month! To cut the cost of your cell phone, stay on top of each mobile carrier’s promotions; they tend to change often and you can take advantage of introductory rates.

On today’s program we also answer your questions:

We have a 21-year-old son who’s been out on his own for a couple of years. He’s made a couple of mistakes but now wants to manage money God’s way. What resources can you recommend?

Do you recommend credit repair companies?

Can Social Security ever be garnished?

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 atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking 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

Its often said in jest that nothing in life is certain but death and taxes. Its a funny line though hardly true! Something else in life is certain, every month youll shell out quite a bit of money for utilities. We usually think of utilities as fixed expenses. But when you realize what youre paying for them you might begin to question how fixed they really are. Kingdom Advisors President Rob West has some numbers.

When you add up the cost of electricity, gas, water, Internet and cable, the average monthly cost is $400. But when you multiply it by 12 to get the annual cost, its much morearound $4,800. This will vary depending on where you live and all kinds of other factors.

Install a smart thermostat to regulate your homes temperature. Also, begin replacing light bulbs with ones that are more energy-efficient. They cost more but pay for themselves over time.And if your water heater is more than 10 years old, replace it with a higher-efficiency model.

Anything else you can do to reduce water usage will help lower your costs. Do you leave the water running when you brush your teeth? If so, youre wasting about four gallons of water. That means a family of four brushing twice a day would waste almost 1,000 gallons a month! The average shower lasts 8 minutes using about 17 gallons of water. The average family of four will use more than 2,000 gallons a month. Shaving just one minute from the average shower could save about 100 gallons a month.

Mobile phones. Plans may cost around $120 a month. A typical family of four could pay up to twice that, $240 a month! To cut the cost of your cell phone, stay on top of each mobile carriers promotions; they tend to change often and you can take advantage of introductory rates.

On todays program we also answer your questions:

We have a 21-year-old son whos been out on his own for a couple of years. Hes made a couple of mistakes but now wants to manage money Gods way. What resources can you recommend?

Do you recommend credit repair companies?

Can Social Security ever be garnished?

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 atMoneyWise Mediafor 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.

There’s nothing like a crisis to make investors question their long-term strategies. Wall Street’s recent correction was the result of panicked investors moving their money to the sidelines. Rob West and Steve Moore talk with investing expert Mark Biller from Sound Mind Investing to get an overview of events and what we should learn from them.Here are some of the takeaways:

The market was already up roughly 40% from the lows of December 2018. That’s an awfully big run in one direction, so it isn’t surprising that we would see a correction. It just happened that the Coronavirus came along and provided a compelling reason for the market to panic.But it’s important to recognize that, although it erased about four months worth of gains in a week and a half, that should be viewed in light of a bull market that lasted 11 years.

In the bull market of the past decade, we’ve had five other corrections of between 10-20 percent - in 2010, 2011, 2015-16, and 2018. So February was the sixth correction of this type in the past 11 years - which is almost exactly the historical average of one every 1.5 - 2 years.

Our baseline advice is always the same: Everything depends on having a long term investing plan and sticking to it. That’s why we always say people need to have at least a 5-year investing horizon if they’re going to have money in the stock market. That way, in case of a bear market, stock prices have time to recover before you would need to start taking withdrawals from your portfolio.But because most market corrections DON’T follow through to become bear markets, most investors are better off not trying to react when these scary downturns come along.

The upside of corrections and bear markets is they are actually great opportunities for long term investors who are building a nest egg by dollar-cost averaging. Bear markets bring stock prices down to more affordable levels so buyers get more shares for their money. That means during a bear market, your regular, fixed contributions to a 401k or IRA will buy you more shares than they did during the prior bull market. When the bear market eventually ends, and the next bull market gets underway, all those shares you bought cheap will gain in value.

The coronavirus and subsequent market downturn didn’t catch God by surprise. He remains in firm control of events.

Next, they answer questions at (800) 525-7000 and [email protected] about the following:

I’m trying to pay down $8000 in credit card debt that’s on a 0% card.The 0% rate is about to end.Should I transfer the remaining balance to another zero percent card and pay the 3% transfer fee, deplete my savings, or cash out my whole life insurance policy to pay it off?

Retired couple is living on both social security income and disability compensation from the Veterans Administration.Will the social security benefits be decreased due to the other income they’re receiving?

Remember to visit our website at MoneyWise.org to hear past programs, connect with a MoneyWise Coach, learn how to become a MoneyWise Coach, or access our books and many free helpful resources.If you’re active on social media, you can find us on Facebook (MoneyWise Media) and join the conversation. 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