More Than Money

A car lease is bad news for financial health. In this episode, a listener asks Art to talk her out of getting a car lease. Art does his best by explaining how a car lease works, why people get them, and why she should avoid them.

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The costs associated with homeownership go way beyond the mortgage payment. In this episode, Art talks about some of those expenses they don’t tell you about. Plus, Art answers a listener question about whether a 20% down payment is really necessary.

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God has designed married couples to be one in all areas, including their finances. What does a husband or wife do when their spouse just doesn’t care about the household finances? Art answers that question in this More Than Money episode.

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We have a long way to go and a short time to get there in this episode! During this episode, Art cover 33 practical tips to help you take the next step on your financial journey.

Notes:

1. Pray about your finances.
2. Automate your generosity.
3. Make your church the first place of giving.
4. Give to an organization that does something you care about in a place you pay attention to.
5. Do your Financial State of the Union.
6. Track net worth.
7. Set realistic goals.
8. Create a zero-based Blueprint for Mission.
9. Know your essential expenses.
10. Hunt down and eliminate unnecessary, regretful spending.
11. Find a budgeting app that works for you.
12. Use sinking funds.
13. Automate your savings.
14. Have an emergency fund.
15. Use a HYSA for your emergency fund.
16. Pay for cars with cash.
17. Pay off credit cards every month.
18. Get rid of credit cards if you have credit card debt or struggle to pay them off in full.
19. Use the debt snowball to pay off debt.
20. Make extra payments toward your mortgage.
21. Put 15% of your gross income toward retirement.
22. Maintain a diversified portfolio.
23. Meet with a Kingdom Advisor for specific investment guidance.
24. Pay attention to expense ratios.
25. Don’t cheap out on insurance.
26. Shop insurance rates.
27. Use the DIME method for life insurance.
28. Have an emergency binder.
29. Have a will.
30. Pray about your financial legacy.
31. Have a monthly finance meeting with your spouse.
32. Know your spouse’s money story and money personality.
33. Place marital unity above your financial goals.

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Is owning a home actually better than renting? There has been some debate over it recently. In this episode, Art provides the argument vs renting and homeownership an gives his thoughts on the matter. Plus, a listener is considering an adjustable-rate mortgage. Should he do it?

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Is retirement savings for those with higher incomes? Is it possible to save for retirement with limited income? In this episode, Art provides hope for those who are trying to save for retirement with modest earnings.

1. Stop assuming you must have a high income to save for retirement.
2. Don’t underestimate the importance of your 401(k).
3. Create a plan.
4. Stick to the plan.
   

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We want you to live more generously during your retirement years. In this episode, Art discusses four ways to retirement plans get derailed, or never even started.

1. Leaving your 401k plan on autopilot.
2. Not getting your company match.
3. Not paying attention to expense ratios.
4. Not adjusting your portfolio.
   

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Welcome to August! In this episode, Art walk through some money moves you should consider this month.

1. Take advantage of tax-free days for school supplies.
2. Take advantage of the last month for no-interest student loans.
3. Declutter.
4. Prepare for insurance rates to go up.
5. Celebrate National Financial Awareness Day accordingly.

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What is an ABLE account? In this episode, Art talks about ABLE accounts for the first time and answers a listener question about withdrawing money from a Roth IRA to pay off her debt.

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Are you making some big financial mistakes? In this episode, Art covers some of the biggest financial mistakes he sees. Plus, Art answers a listener question about 401(k) withdrawals.

Notes:

1. Not giving.
2. Not budgeting.
3. Accumulating debt.
4. Not having an emergency fund.
5. Neglecting retirement savings.
6. Impulse buying.
7. Overlooking insurance needs.
8. Ignoring investing.
9. Not negotiating.
10. Falling for get-rich-quick scheme.
11. Not increasing financial literacy.

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