Faith & Finance

Ecclesiastes 3:13 says, “every man who eats and drinks sees good in all his labor—it is the gift of God.”The Bible calls work a gift. But if you have to work more than one job, it might not feel like it. Today, we’ll offer a few practical and spiritual insights for working multiple jobs.Work: A Gift and a StruggleGod created us for work. Throughout the Bible, we see the importance of work, not just for our own benefit but for God’s glory. From the beginning, Adam and Eve’s work in the garden was meant to be a gift—an opportunity to partner with God in cultivating His creation. However, with the fall of humanity and the entrance of sin, work became a struggle (Genesis 3). Despite this, our desire for meaningful work remains. In today’s world, this struggle is evident in the growing number of people working multiple jobs.According to the Bureau of Labor Statistics, over 7.7 million workers held two jobs in 2022, with 400,000 working two full-time jobs simultaneously. The numbers are likely even higher now. So, how can we manage the demands of multiple jobs while keeping a biblical perspective on work?Practical Tips for Managing Multiple JobsIf you’re considering a second job to make ends meet or to save more, here are some practical tips:1. Keep Jobs SeparateUse tools like Asana, Trello, or even a traditional planner to stay organized with your tasks, schedules, and contacts for each job. Keeping clear boundaries between jobs helps prevent confusion and burnout.2. Communicate EffectivelyRegular communication with your employers, co-workers, and customers is key when juggling multiple jobs. Keep expectations clear and make sure deadlines and responsibilities are well-defined.3. Manage Your TimeSet boundaries and create a schedule that allows you to manage your workload without overextending yourself. If you’re working from home, establish a dedicated workspace and take regular breaks to maintain focus and energy.4. Take Care of Yourself SpirituallyIt’s easy to let your spiritual life slide when your schedule is packed, but your relationship with God should remain a priority. Trying to handle everything on your own can lead to burnout and idolatry, as work becomes the center of your life.Is Work Becoming an Idol?It’s essential to recognize when work is no longer just work, but has become an idol. Here are some signs that work may be taking God’s place in your heart:Your self-worth is tied to meeting income goals.You sacrifice rest, family time, or church to work more hours.You can’t stop thinking about work tasks, emails, or deadlines.You feel constantly stressed, discouraged, and exhausted.You believe financial security is the sole purpose of work.You are obsessed with productivity, success, and promotion.You see your paycheck, rather than God, as your provider.You are reluctant to give generously despite your income.If any of these resonate with you, it may be time to pause and refocus on Christ. Work is not about how much you can achieve or how much you earn—it’s about Who you are working for.Finding Rest in ChristWhen work becomes overwhelming, the solution isn’t to work harder—it’s to rest in Jesus. As you place Christ at the center of your work, you’ll begin to see opportunities to reach others, grow spiritually, and trust God as your provider. Satisfying work isn’t about what you do; it’s about Who you are serving. With the right focus, even managing multiple jobs can become an act of worship, reflecting God’s grace and provision in your life.On Today’s Program, Rob Answers Listener Questions:I will be selling a home that was part of my divorce settlement. What amount should be tithed from the sale of that property?Due to a medical issue, I had to go on disability at 55 and was then automatically switched to Social Security at 65. I'm wondering if there's a way I can turn off the Social Security benefits I'm receiving since I had intended to work until 72. I received the lowest amount because I had to leave the job market early, and I'm trying to figure out how to recoup that.I've been introduced to whole life insurance policies and told that you can buy one and use it to save money. As you save, you can borrow against it over time, making it like a two-in-one deal. What do you think about that? Is it legitimate?I have a mortgage and have four years left to pay on it. The balance is about $25,000—about $1,000 a month. How can I pay it off in two years or less?I retired at age 62 and just turned 65. My full retirement age is 66 in 10 months, and I'm currently drawing Social Security. I pastor two rural churches, and they contribute $300 a month to my retirement plan. Would it be okay for me to also contribute money to a Roth IRA or another type of retirement plan?Resources Mentioned:SSA.gov (Social Security Administration)Bankrate.comLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certi

When a low-income person asks your church for help, what do you do next?God is extraordinarily generous, and our churches should be, too. However, helping low-income people often requires going beyond meeting their material needs. Dr. Brian Fikkert joins us today to talk about how your church can help the poor in ways that lead to lasting change.Dr. Brian Fikkert is a Professor of Economics and Community Development and the Founder and President of the Chalmers Center for Economic Development at Covenant College in Lookout Mountain, Georgia. He is also the co-author of the best-selling book, “Helping Without Hurting in Church Benevolence: A Practical Guide to Walking with Low-Income People.” The Struggles Churches Face with Benevolence MinistriesMany churches feel overwhelmed when trying to address their community's needs. They want to help but often feel powerless, worried about enabling destructive habits or frustrated by the lack of visible long-term change. These challenges are common, but with proper guidance, churches can develop a benevolence ministry that is both effective and sustainable.One of the most critical things to remember in this process is that people are not projects. Every human being is made in the image of God and should never be reduced to their economic status or material possessions. Whether rich or poor, we are all equal in dignity and worth.Churches must embrace a relational approach to benevolence, viewing their work as an act of love rather than just meeting needs. This involves presence, care, empathy, listening, and community. A church that doesn’t know how to care for the needs of its own congregation will struggle to effectively minister to those outside its walls.Mutual Transformation: The Goal of Benevolence MinistriesBenevolence should never be a one-sided transaction between the “haves” and “have-nots.” Instead, it should foster relationships in which both parties grow and are transformed by their shared experiences.The goal is to create a bigger vision—one that invites people into the family of God, acknowledging that all of us are broken and made whole only in Christ. This mutual brokenness leads to mutual transformation, something Jesus teaches in the Beatitudes in Matthew 5. Churches must embrace this mindset, where economic status is not a barrier to forming genuine, meaningful relationships.Benevolence ministry is all about relationships. It’s not about simply giving material assistance. It’s about walking together through life, sharing in both the struggles and the joys. True benevolence involves praying together, suffering together, listening together, and learning from one another. When a church’s benevolence ministry is built on this relational model, it becomes a living example of Christ’s love and causes the world to take notice of the work God is doing.Helping Without Hurting: Online Training for ChurchesRecognizing that churches often struggle to balance helping people without unintentionally hurting them, Dr. Brian Fikkert and his team have developed an online training program called Helping Without Hurting in Benevolence Ministry. This six-session program guides churches through the process of establishing or improving their benevolence ministries.The course covers foundational topics like understanding poverty’s complexity, building a mission statement and policy document, and walking with people through change. It’s a valuable resource for churches looking to create a ministry that fosters genuine transformation.Resources and information are available at Chalmers.org for churches interested in learning more about setting up a transformational benevolence ministry.On Today’s Program, Rob Answers Listener Questions:I'm retiring soon and will have around $7,000 from my pension. I'm also eligible for a $100,000 annuity and Social Security at age 63. My wife and I are debating whether I should start taking Social Security right away or wait. What are your thoughts on when I should start taking Social Security?Resources Mentioned:The Chalmers CenterHelping Without Hurting in Benevolence Ministry (Course)Helping Without Hurting in Church Benevolence: A Practical Guide to Walking with Low-Income People by Dr. Brian Fikkert and Steve Corbett (Book)Look At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Christians are generous people, as God calls us to be. That means we must also be discerning.We should always give with our hearts out of a passion for advancing God’s Kingdom, but we must also use our heads to strategically choose which organizations or causes receive our financial support. Ron Blue joins us today with some advice before you write that check.Ron Blue, co-founder of Kingdom Advisors and author of numerous books on biblical personal finance, offers valuable insights into how we can give effectively to ministries. Drawing from his book Splitting Heirs: Giving Your Money and Things to Your Children Without Ruining Their Lives, he provides a strategic approach to ensure our giving is impactful and aligned with God's work. Here are seven critical questions to consider before financially supporting a ministry.1. Are the Leaders Marked by Godly Characteristics?When choosing to support a ministry, the first thing to examine is the character of its leaders. Christian leaders—whether they are pastors, missionaries, or heads of organizations—should be men and women of integrity, vision, and, most importantly, a growing relationship with Jesus Christ. If you can't trust the leaders, it's a clear sign that you should reconsider your support.2. Is the Ministry Active in God’s ‘Hot Spots’?Some ministries create programs and plans without aligning them with God’s work. Instead of assuming that God will bless good intentions, effective ministries actively seek to participate in areas where God is already working. Supporting ministries that follow God’s leading ensures your contributions are used where they will make the most significant impact.3. Is the Ministry Innovative?A healthy ministry isn't stagnant. It should be innovative—willing to create, experiment, and challenge the status quo while remaining true to its biblical principles. Look for ministries that pursue new methods and approaches, turning short-term opportunities into long-term growth. These ministries often see and act on possibilities that others might overlook.4. Is the Ministry Growing and Cooperative?Effective ministries continuously grow and make measurable progress toward their goals. Leaders with a clear sense of purpose and vision inspire donors to support their work. Additionally, strategic ministries are willing to collaborate with like-minded organizations and churches. By pooling resources, they achieve greater impact, breaking down denominational barriers and working together for the Kingdom.5. Is the Ministry Goal-Oriented?Ministries should have a clear sense of what God has called them to do and how to achieve it. Effective organizations maintain a laser focus on their goals and purpose. As a donor, it’s important to assess whether the ministry you’re supporting is committed to its mission and is actively working toward it.6. Is the Ministry Accountable?Accountability is essential in any ministry. Strategic ministries hold themselves and their staff accountable to meet established goals. This may come in the form of a strong board of directors, elders, or other leadership structures that ensure financial integrity and operational transparency. Always check if there are systems in place to ensure accountability within the organization.7. Is the Ministry Endorsed by a Strong Track Record?Finally, examine the ministry’s track record. The best predictor of future success is past performance. Instead of being swayed by eloquent appeals or effective fundraising, focus on the actual results the ministry has achieved. Review annual reports, visit the ministry’s website, and, if needed, request their IRS Form 990 to gain insight into their financial stewardship.By asking these seven questions, you can be confident that your giving is strategic, impactful, and aligned with God’s work. Giving should not be an emotional response but a thoughtful, prayerful decision grounded in biblical principles.On Today’s Program, Rob Answers Listener Questions:I'm on a variable income. I have plenty of work during the summer, but my income almost cuts in half during the winter. What should I do, and what resources are available to help me during that downtime?Our affluent church just received a $2.4 million unrestricted donation. It seems wasteful to just let the money sit, but I also don't feel right about not supporting the church. What are your thoughts?About three years ago, I saved up some money and bought about $15,000 worth of gold. Since then, I've saved another $10,000. I want to ensure I'm doing the right thing by buying gold and not leaving it sitting in a savings account at the bank. What are your thoughts on that?Resources Mentioned:Splitting Heirs: Giving Your Money and Things to Your Children Without Ruining Their Lives by Ron Blue with Jeremy WhiteLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Fi

Are you worried about a recession? Some economists say there’s still a 35% chance it could happen in 2024.People often ask, “Will we have a recession?” The answer, of course, is “Yes.” We’ll always have another recession—the real questions are, “When?” and “Are you prepared for it?” If you’re not, now’s the time to get started.With the economy showing signs of slowing down, preparing yourself financially for a potential recession is essential. Here are seven practical steps to “recession-proof” your finances and help you navigate uncertain times:1. Check Your Credit Score and ReportsThe first step is to assess where you stand financially by checking your credit score and obtaining your credit reports. You can access free credit reports from Experian, TransUnion, and Equifax at AnnualCreditReport.com. This gives you a baseline to track any changes and helps you negotiate with creditors if needed, especially if you face temporary financial hardship.Having a history of on-time payments can work in your favor if you need to negotiate better terms in the future.2. Use the Mayday BudgetIn times of financial stress, focus on the essentials. The Mayday budget consists of four key categories:Food: Prioritize simple, affordable meals and avoid dining out.Housing: Make your mortgage or rent payment.Utilities: Ensure essential services like electricity and water are covered.Transportation: Keep your car running or pay for essential transportation.Once these are covered, any remaining funds can be allocated to other bills.3. Seek Additional ResourcesIf your unemployment benefits or savings run out, there are other resources available. Non-profit organizations and local government agencies often offer assistance programs. You can call 2-1-1 or visit 2-1-1.org to find services in your area.4. Communicate with CreditorsBe proactive with your creditors. Create a list of all your creditors and their contact information, and be prepared to call them if your financial situation worsens. Explain your situation in detail, providing pay stubs to show your reduced income, and ask if you can make partial payments or temporarily stop payments.Keep a record of every conversation and ask for any agreements in writing. This can prevent confusion and protect you from scams. Remember, legitimate creditors won’t ask for sensitive information over the phone or email.5. Get Professional Help with Credit Card DebtIf you’re struggling to keep up with credit card payments, seek help from non-profit organizations like Christian Credit Counselors. They can help lower your interest rates and consolidate multiple payments into one manageable amount. This form of debt management helps pay off debts faster without the risks associated with debt consolidation.6. Save as Much as PossibleBuilding up your emergency fund is critical during a recession. Aim to have 3 to 6 months of living expenses saved. This cushion can help cover essential costs like food, housing, and utilities during periods of unemployment or reduced income.7. Pray for WisdomFinally, don’t forget to pray. God promises in James 1:5 to give wisdom generously to those who ask. Pray for guidance in managing your finances, and trust that God will provide for you during difficult times.By following these steps, you can take meaningful action to protect your finances during a recession. Preparing in advance, maintaining open communication, and seeking God’s wisdom will help you navigate whatever financial challenges come your way.On Today’s Program, Rob Answers Listener Questions:Does the Bible speak about retirement at all? I’ve never read anything regarding it in Scripture besides referring to Levites and Priests.I'm reluctant to start shopping again for insurance, auto, and home. My premiums went up 31% this year, and I had just changed to another insurance company last year. I have no claims, and I just wondered if that seemed to be the pattern across the country or maybe for this region. Do you have any thoughts?My husband opted out of Social Security back in the 1980s. He's a pastor who works part-time. Now he's retired, and I wonder if he can get back into Social Security if he gets enough credits.My mom just passed away, and she left the house. She has a mortgage of $125,000 on it, and the loan is a VA loan. I don't know what to do with this property, so any advice would be greatly appreciated.Resources Mentioned:AnnualCreditReport.com211.orgChristian Credit CounselorsLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithf

God’s Word says a husband and wife become one flesh…but it doesn’t say anything about prenups.It’s true; you won’t find “prenuptial agreement” in your concordance. So, does that mean a Christian should never have one?God’s Design for Marriage: Oneness and CovenantA prenuptial agreement (prenup) is a legal contract that couples agree to before marriage, outlining how their assets—money, property, and other possessions—will be divided if they divorce. While this can seem like a practical way to handle complex financial conversations, many wonder if it aligns with God’s design for marriage.In Genesis 2:24, God sets the foundation for marriage: "A man leaves his father and mother and is united to his wife, and they become one flesh." Paul reinforces this principle in 1 Corinthians 7:4, reminding us that in marriage, even our bodies are not our own but belong to our spouse. This unity is central to God’s plan for a thriving marriage—there should be no "mine" or "yours," only "ours."Marriage is also a covenant relationship, reflecting the bond between Christ and His Church (Ephesians 5:31-32). This covenant is built on love, sacrifice, grace, and mutual respect. In a Christ-centered marriage, everything is shared, and the relationship becomes a testimony of God’s love to the world.Potential Issues with Prenups in Christian MarriagesWhile a prenup may seem practical, it can introduce harmful dynamics into a Christian marriage. Dr. Art Rainer, a frequent contributor to Faith and Finance, outlines three potential messages a prenup might send:Distrust in the Relationship: A prenup often signals that one partner feels the need to protect their assets, which can imply a lack of trust in the other person.Doubt About the Marriage’s Longevity: By preparing for a divorce before the marriage even begins, a prenup can suggest uncertainty about the commitment to "forever."One Partner Isn’t Fully Committed: In a biblical marriage, all things—finances included—are shared. A prenup can indicate that one partner is unwilling to fully embrace the oneness that God desires.Are There Legitimate Reasons for a Prenup?Despite these potential issues, there are scenarios where a prenup might foster unity rather than harm it. For example, if one or both spouses have children from previous marriages, a prenup can help clarify how inheritances will be handled. This could show that the marriage is being pursued for the right reasons and that the best interests of all family members are being considered.However, any decision about a prenup should involve prayer and godly counsel. Seeking wisdom from advisors ensures that the couple asks the hard questions and examines their motivations before moving forward.Keeping God’s Design at the Center of MarriageUltimately, marriage is a covenant reflecting Christ’s relationship with the Church, built on trust, sacrifice, and unity. While there may be valid reasons to consider a prenup, it should never replace the trust and commitment foundational to Christian marriage.Both spouses should prayerfully consider their motivations, ensuring their relationship aligns with God’s design for oneness in all areas, including finances. Open conversations about money and trust are essential, and any agreement made between each spouse should serve the marriage, not undermine it.We hope this reflection has provided you with valuable insights as you ponder whether a prenup is right for your situation. Seek God’s guidance, and let His vision of unity and covenant shape your marriage decisions.On Today’s Program, Rob Answers Listener Questions:I started receiving my Social Security benefit at 62 but was later notified I could get a higher amount. After speaking with them, my benefit increased slightly since half of my ex-husband's benefit was higher than I had been receiving. Now, I'm wondering if I would be eligible for survivor benefits if my ex-husband were to pass away before me.I'm paying a $120 monthly premium on a $10,000 life insurance policy for my 96-year-old mother. The policy has a $5,000 cash value. Should I cancel the policy and use the $5,000 cash value to pre-pay funeral expenses, or should I keep the policy active until she passes and use the $10,000 death benefit then?I have multiple 401(k) accounts from past jobs and traditional and Roth IRAs. Would it be best to consolidate all these retirement accounts into a single traditional IRA and/or Roth IRA? I'm hoping consolidation could simplify management and potentially improve my investment options.Resources Mentioned:Look At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect wit

So you’d like to give more, but you don’t know how? Good news! If money’s scarce, it doesn’t mean your giving has to be.Hebrews 13:16 reads:“Do not neglect to do good and to share what you have, for such sacrifices are pleasing to God.”It doesn’_t say, “unless you’re broke.” Today, we’ll give you some ways you can give _without money:1. Give Your Time to Your ChurchOne of the easiest ways to be generous is by offering your time. Your local church has plenty of service opportunities:Join a missions committee or teach a Sunday School class.Serve in the children’s ministry if teaching isn't your strength.Help with outdoor work like weeding flower beds or raking leaves.If you’re unsure where to start, ask a church leader what help is needed. You’ll likely receive plenty of suggestions!2. Visit and Care for OthersAnother impactful way to serve is by visiting members of your church or community, especially those in the hospital or who are elderly shut-ins. Spending an hour with someone can brighten their day. You can also offer practical help:Babysit for parents who need a break.Help an elderly neighbor with household tasks, yard work, or grocery shopping.Use these moments to share the love of Christ, perhaps by inviting them to church.3. Encourage Others from HomeYou don’t even need to leave your house to make a difference. Set up a personal ministry by sending cards or handwritten letters of encouragement. Include a passage of Scripture that speaks to God’s love and care.4. Donate Items You No Longer UseLook around your home—are there things you no longer need? Items from your closet, garage, or basement can be donated to a Christian charity like the Salvation Army or Habitat for Humanity. Even something as simple as recycling plastic bags can help a ministry like a food bank or thrift store.5. Offer Your Skills and ResourcesDo you have a van, truck, or trailer? Consider using it to help people move or haul items. It’s a surprising and practical way to serve others. If you have professional skills—whether in computers, graphic design, or even gardening—find ways to offer those talents to your church or community.6. Donate Unused Christian MaterialsIf you have extra Bibles or Christian books, you can donate them to ministries that distribute materials to believers worldwide. Organizations like Love Packages and Christian Resources International accept and send these materials to places where believers are eager to learn God’s Word. Local homeless shelters may also welcome donations of Bibles and Christian literature.7. Give BloodA unique way to give is by donating blood. Every pint of blood donated can save up to three lives, allowing others to experience God’s love and perhaps the chance to hear the Gospel. Visit RedCrossBlood.org to learn where and when you can donate.8. PrayPerhaps the most important way you can give is through prayer. Join your church’s prayer group, or commit to praying individually for your church, community, friends, and world leaders. Prayer is a powerful way to support the work of God’s Kingdom.Even if you don’t have financial resources to give, there are countless ways to be generous. From donating your time and skills to praying for others, God honors sacrificial giving in all its forms. Take advantage of these opportunities to bless others and advance God’s Kingdom.On Today’s Program, Rob Answers Listener Questions:If my spouse is accumulating credit card debt and my name is not on the credit card, if he should die, would I be responsible for that debt?I would like to know if I should get a foreclosure home or a new home. What's the difference between the two options?My parents (around 85) recently sold a duplex they inherited for $215,000. I have two questions: 1) How do they determine the taxes owed on the sale? 2) What should my mom do with the remaining money after covering healthcare and home repair costs, considering she's considering putting it in CDs?I'm in my 70s and retired. Since I'm divorced, I don't have much money saved, and my income goes towards alimony. At my age, I'm wondering how to balance saving money for emergencies and giving more to the Lord's work. I believe giving to the Lord's work is a better reward than saving money down here. What do you think?Resources Mentioned:Red Cross Blood Services | Love Packages | Christian Resources InternationalSalvation Army | Habitat For HumanityBankrate.comLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, a

There are plenty of Christian retirement plans out there…but is retirement itself actually biblical?The answer depends on your definition of retirement. For Christians, that should be quite different from the world’s view of retirement.Work: A Biblical CallingThe world often sees work as something to escape—a negative experience endured under the pressure of a demanding boss. However, the Bible presents a very different view. In Colossians 3:23-24, Paul tells us: "Whatever you do, work heartily, as for the Lord and not for men."God is our true boss, and we are called to serve Him through our work.Work existed before the Fall. Genesis 2:15 shows us that God put Adam to work in the Garden of Eden. Nowhere does the Bible suggest that we should stop serving God once we have saved enough money to retire into a life of leisure.Moreover, God Himself is a worker. In John 5:17, Jesus says:“My Father is always at his work to this very day, and I too am working.”This means that our service to the Lord should never truly end. Interestingly, the Bible only mentions retirement in one instance, and that’s in a specific context. Numbers 8:24-25 describes how Levitical priests were to retire at age 50. However, this instruction was specific to their duties and doesn’t apply to all believers. The Bible doesn’t give a general mandate for retirement as we think of it today.In fact, before the 20th century, people worked for as long as they were able. The concept of retirement as we know it—a time to completely cease working—came about with the introduction of Social Security and pensions. But as Christians, we are called to serve God for our entire lives.Why Should We Save for Retirement?You might be wondering, “If we’re not supposed to retire, why are we saving all this money?” The answer is simple: It’s wise to prepare for a time when we might not be physically able to work. People today are living longer than in previous generations, and many will face a stage of life where work is no longer possible.Proverbs 21:20 reminds us: “Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it.”Saving is a biblical principle that allows us to be good stewards of the resources God has entrusted to us.But for Christians, saving for retirement isn’t about stepping away from work altogether. Instead, we should view it as an opportunity to retire to something, not just from something. Perhaps this means using the resources you’ve saved to enter the mission field or serve in a new capacity. Or, it might mean having the freedom to give more generously to advance God’s Kingdom.As Christians, our goal in retirement should be to serve God in even greater ways. The Apostle John continued writing and preaching into his 90s, and second-century pastor Polycarp testified to his faith even in his final days. These examples remind us that our service to the Lord never ends, no matter our age.So, while it’s prudent to save for the day when you can no longer work as diligently as you do now, the ultimate goal is to use that season of life to serve God more fully.Practical Steps for Saving for RetirementHere at Faith and Finance, when we talk about retirement, we’re not advocating for ceasing all work. Instead, we aim to help you be faithful stewards of God’s money so that, one day, you can serve Him in new and meaningful ways.To prepare financially for retirement, start saving as early as possible to benefit from compound interest. We recommend setting aside 10 to 15 percent of your income in a tax-advantaged retirement plan, like a 401(k), especially if your employer offers matching contributions.If your employer doesn’t provide a 401(k), consider opening a traditional or Roth IRA. For younger individuals with more time until retirement, a Roth IRA may be especially beneficial because of its long-term tax advantages.As believers, our view of retirement should be shaped by our desire to serve God faithfully throughout every season of life. Saving for retirement is wise and biblical, but our goal is not to stop working altogether. Instead, we prepare for a time when we can use the resources God has given us to serve Him more fully, whether through giving, missions, or new opportunities for ministry.On Today’s Program, Rob Answers Listener Questions:I bought a house years ago and am the only one on the mortgage. I moved out and purchased another property but didn't sell the first one. My CPA said I'd have to pay up to 24% capital gains tax. Can I sell the first house, take the money, and buy the new property from my wife to avoid the capital gains tax?I started drawing Social Security early while working part-time and made over the income limit. They withheld half of the amount over the limit. I understood from a previous program that I could get that money back after I reached full retirement age. I wonder if that means the check will be more because of the input or if it will build up some payment for me.At this point in my

“Where there is no guidance, a people falls, but in an abundance of counselors there is safety.” - Proverbs 11:14At one time, finding someone who shared your Christian values and could give you expert financial guidance was quite a challenge. But today, a nationwide network of Christian financial professionals fills that void. Sharon Epps joins us today to explain “What is a CKA®?”Sharon Epps is the president of Kingdom Advisors, FaithFi’s parent organization. Kingdom Advisors serves the broad Christian financial industry by educating and equipping professionals to integrate biblical wisdom and financial expertise.The Origin of Certified Kingdom AdvisorsIf you’re new to the concept of a Certified Kingdom Advisor (CKA), you might wonder what sets these financial professionals apart. CKAs are not only trained in financial services but also rooted in a biblical worldview, helping individuals and families make faith-based financial decisions. There are over 1,500 CKAs across the U.S. and Canada, and that number continues to grow.Larry Burkett and Ron Blue inspired the concept of Kingdom Advisors, realizing that God’s people needed trusted, biblically minded financial advisors to help them steward their resources. This vision laid the foundation for the CKA designation, the only credential in the financial industry dedicated to biblically wise financial advice. CKAs are financial professionals, such as planners, accountants, investment advisors, insurance professionals, and lawyers, who are passionate and qualified to integrate faith and finances into their practice.What Does It Take to Become a Certified Kingdom Advisor?Becoming a Certified Kingdom Advisor involves rigorous training. CKAs complete 90 hours of study at the college level, capped by a five-hour proctored exam. This training includes navigating financial decisions from a biblical perspective through a case study of a real family, Bob and Debbie.This process equips financial professionals with deep biblical convictions about financial decision-making and enhances their ability to give competent, faith-aligned advice to their clients. The CKA credential is highly valued across the financial services industry and recognized by firms for its commitment to biblically-based stewardship.Stories of TransformationOne of the most rewarding aspects of the CKA program is hearing stories from advisors who have completed the training and how it has impacted their practice. Sharon shared a few examples, including an advisor who wrote:“My practice is no longer just about financial acumen. It’s about integrating faith and finance, reshaping how I interact with my clients.”Another advisor reflected: “Becoming a CKA has been more than an educational pursuit; it has been a catalyst for spiritual growth and discernment. With each scripture memorized and lesson learned, I’ve gained clarity on God’s calling and purpose for me as a leader and disciple-maker.”These stories illustrate how the CKA designation transforms financial professionals' professional growth and personal faith journeys, allowing them to serve their clients more holistically.Why Choose a Certified Kingdom Advisor?Why should you choose a Certified Kingdom Advisor if you're considering financial guidance? Money is a tool, and having an advisor who shares your biblical worldview ensures that your financial decisions are aligned with your faith. CKAs help you steward your resources wisely and offer spiritual encouragement through prayer and scripture.If you’re ready to take the next step and find a Certified Kingdom Advisor, visit FaithFi.com and click “Find a Professional.” You can connect with a CKA in your area who can guide you in faithful financial stewardship.On Today’s Program, Rob Answers Listener Questions:My son got into a terrible car accident and suffered a brain injury. It took him four years to recover and get back on his feet. He's in his early 30s and has a job, but he's worried about losing his Medicare disability payments if he earns too much. I'm unsure of the rules around the substantial gainful activity limit and the trial work period. Can you help me understand how he can continue working without jeopardizing his disability benefits?My husband and I just sold one of our investment properties for $200,000, and we made about $140,000 in profit. We're about three years away from retirement. Should we use that $200,000 to buy another investment property to avoid paying capital gains taxes? Or should we invest the money elsewhere instead of doing a 1031 exchange?27 years ago, I bought some savings bonds for my sons, who are now adults. The bonds have been sitting in a safe all this time. My sons know about the bonds, but I'm unsure what to do with them now. Should I just hold onto the bonds until they mature in three more years? Or should I go ahead and cash them out and give the money to my sons now? I'm still determining if the bonds will be worth much in a few years, so I wonder if I sho

The definition of synergy is two things put together, having an effect greater than the sum of the parts. Synergy can play a beneficial role in family finances. A case in point is an ABLE account working together with a special needs trust for a person with disabilities. Matt Syverson joins us today to talk about it.Matt Syverson is Managing Partner & Senior Wealth Advisor for Sound Stewardship in Overland Park, Kansas. He is also a Certified Financial Planner (CFP®) and a Certified Kingdom Advisor (CKA®). What is an ABLE Account?An ABLE account, short for “Achieving a Better Life Experience,” is a tax-advantaged savings account specifically designed for individuals with disabilities. It allows them to save money and work without losing access to crucial government benefits like Supplemental Security Income (SSI) and Medicaid, which have strict asset limits of $2,000 for individuals and $3,000 for couples. The key features of an ABLE account include:Eligibility: Available to those who are blind or disabled before age 26 (rising to 46 in 2026).Savings Opportunity: Allows individuals to work and save without exceeding government asset limits.Tax Benefits: Often provides state tax deductions similar to 529 college savings plans.Contribution Limits: The lifetime maximum contribution limit aligns with 529 plans but should stay under $100,000 to avoid affecting SSI or Medicaid.Qualified Expenses: Can be used for day-to-day needs like food and rent, excluding vices like alcohol or gambling.No Impact on Government Benefits: ABLE account balances won’t disqualify the individual from receiving SSI or Medicaid.It’s important to note that in most states, there is a Medicaid payback provision, which allows the state to recover funds from the ABLE account to cover medical bills after the account holder's passing. However, some states, including Kansas, have removed this clawback provision, making these accounts even more attractive for families.What is a Special Needs Trust?A special needs trust (SNT) is a more established tool designed to protect individuals' eligibility for government benefits while allowing families to manage significant assets. This trust can hold homes, vehicles, real estate, investments, and various accounts like IRAs or Roth IRAs. Key benefits of a special needs trust include:Asset Management: Can hold a wide variety of assets that would otherwise disqualify someone from receiving government benefits.Estate Planning Certainty: Spells out how the assets will be managed and distributed after the individual’s passing.No Medicaid Clawback: Unlike ABLE accounts, SNTs are not subject to Medicaid payback provisions, providing greater long-term financial security.Spending Flexibility: Can cover a wide range of expenses not covered by government programs.However, special needs trusts come with a downside. If the trust is used to pay for food or rent, the SSI benefit will be reduced by $334 per month. Additionally, any direct payments to the individual from the trust can affect SSI income, so careful management is required.How Can ABLE Accounts and Special Needs Trusts Work Together?Combining an ABLE account with a special needs trust can offer significant advantages for families. The ABLE account can be used for day-to-day expenses, while the special needs trust can be preserved for larger, long-term financial goals. This separation allows for greater flexibility and financial independence.Day-to-Day Needs: An ABLE account can cover immediate expenses like food and rent without reducing SSI benefits.Long-Term Planning: A special needs trust can hold larger assets and ensure they are passed on to future beneficiaries without impacting government benefit eligibility.Tax Benefits: ABLE accounts enjoy tax-free growth and withdrawals for qualified expenses, while special needs trusts are fully taxable each year. Therefore, it is beneficial to use the ABLE account for specific expenses to maximize tax savings.Why Go Through the Effort?Setting up both an ABLE account and a special needs trust takes planning, but the benefits are well worth it. ABLE accounts are simple and inexpensive to establish, offering tax advantages and flexibility for everyday expenses. Special needs trusts, while more complex and costly, assure that your loved one will retain their benefits and that their assets will be managed according to your wishes.When creating these plans, it’s crucial to consult with an attorney and a financial advisor. Coordinating contributions to the ABLE account and the special needs trust is crucial to avoid exceeding limits that could affect eligibility for government benefits.Combining an ABLE account with a special needs trust can provide powerful financial synergy for families caring for a loved one with disabilities. With the right planning, these tools help ensure both short-term financial needs and long-term security, allowing your family member to thrive and achieve their God-given potential.On Today’s

You should have 3 to 6 months’ living expenses in your emergency fund…but what if you can’t get to that money?Does your emergency fund need an emergency fund? That would be money you actually have on hand, not in a bank. And if so, how much?Today, many of us rely heavily on debit and credit cards for everyday transactions. They’re convenient, especially with the added perks of reward points or cashback programs. But as easy as it is to swipe a card, it’s still wise to keep a small cash reserve on hand. Why? Let’s take a look.The Importance of Cash in a Digital WorldWith ATMs and mobile banking apps available 24/7, you might wonder why keeping cash around is necessary. While it’s true that ATMs are convenient, there are rare but possible situations where cash access might be temporarily unavailable. This could be due to:Network-wide banking outagesA hacking incident affecting your bankIdentity theft or a compromised accountThese disruptions could leave you without access to your funds, even if it’s just for a short time. Having a small amount of cash on hand can help bridge the gap during emergencies.How Much Cash Should You Keep?So, how much cash is enough? Consumer experts suggest keeping enough to cover about three days’ worth of expenses. This amount will vary depending on your individual needs. To figure out how much you need:Review your bank and credit card statements for a “normal” month (one without unusual expenses).Subtract fixed bills like your mortgage and utilities from your total spending.Take the remaining amount (expenses covered by card or cash) and divide it by 10 to find your estimated three-day cash need.You’ll likely end up with several hundred dollars, depending on your lifestyle or any special circumstances, like medical needs. That’s your target for an emergency cash reserve.Where Should You Store Your Cash?Now that you know how much cash to keep, where should you store it? Don’t bury it in a coffee can in the backyard. Instead, invest in a fireproof home safe that’s securely bolted to the wall.If you use a cash envelope system, remember that those envelopes might be empty at the end of the month. So, it’s a good idea to keep this emergency cash in a separate, dedicated envelope for unforeseen circumstances.Faith-Based Financial Solutions for Your Emergency FundWhile having a small cash reserve on hand is wise, your larger emergency fund—typically 3 to 6 months’ worth of expenses—should be stored safely in a financial institution. But here’s a question: wouldn’t it be great to know that your bank aligns with your Christian values?Thankfully, there are several faith-based banks and credit unions that do just that. One such example is Christian Community Credit Union (CCCU). In addition to providing great online banking services, CCCU is committed to supporting Christian ministries worldwide. They’ve donated over $6 million to mission projects and use deposits to help build churches, expand ministries, and support Christian businesses. Plus, each account is insured for up to $250,000.As Christians, stewardship goes beyond just the 10% we give the church. It involves managing 100% of what God has given us. Partnering with a faith-based financial institution like CCCU allows you to make a positive impact while ensuring your emergency fund is secure.If you’re looking for a faith-aligned banking option, consider Christian Community Credit Union. You can learn more at JoinChristianCommunity.com.On Today’s Program, Rob Answers Listener Questions:I have four family members. They're in their 30s, single, making $40,000 a year each, and want to buy a house together. Is that a good idea?My auto and home insurance deductibles have increased significantly, and my agent says it's due to excess claims. Do you have any more insight into why this is happening?I have a large 401(k) that I need help managing now that I'm retired. Should I leave it with the current provider or turn it over to a wealth management company? If so, how do I choose the right wealth manager?I'm about to retire, and I don't have any money saved. I will only have social security; whatever my retirement is, I'm trying not to retire this year. I will try putting it off another year to see if I can get a little more prepared or transition easier into that retirement. What are your thoughts on what I should do moving forward?Resources Mentioned:Christian Community Credit UnionLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Si

There’s a saying…“When the wolf comes in the door, love creeps out the window.”Money problems are always listed among the top reasons couples divorce. This is all the more tragic because money problems are fixable. Rachel McDonough joins us today with a three-step approach to better money and marriage.Rachel McDonough is a Certified Financial Planner (CFP®), a Certified Kingdom Advisor (CKA®), and a regular Faith & Finance contributor..Finding UnityManaging money in marriage can be a significant source of frustration for couples. With different financial habits, priorities, and values, it’s easy for disagreements to arise. However, finding unity in your finances can bring peace and strengthen your relationship. Rachel McDonough has advised many couples on navigating their finances, and she shares a powerful three-step approach to help couples align their values, priorities, and financial goals:1. Understand Each Other’s Personal ValuesThe foundation of financial unity in marriage is understanding each spouse’s personal values. When two people get married, they bring different perspectives, experiences, and priorities to the relationship. Of course, it would be nice if couples automatically thought the same way, but that’s rarely the case. Instead, couples must intentionally work to understand each other.Our personal values reflect the unique "fingerprints" of God in our lives. For example, one spouse might highly value generosity, reflecting God’s giving nature, while the other might prioritize creativity, which mirrors God’s role as a creator. These values are part of what draws couples together, but differences also exist.The key is to honor both similarities and differences, learning how to celebrate each other’s unique values. Couples can engage in exercises like value inventories to help uncover what drives each person’s financial decisions and actions.2. Identify Financial PrioritiesOnce values are understood, the next step is to list and prioritize financial goals. These priorities often stem from personal values and can encompass more than just financial goals. For instance, one spouse might prioritize health, recognizing that a stressful job affects their well-being. As a result, this could lead to a financial decision, such as working fewer hours to improve overall health.Couples should openly discuss their individual priorities and work together to allocate resources equitably. By aligning their financial decisions with shared values, they create a plan that reflects both spouses’ desires and ensures that resources are used to honor both perspectives.3. Implement an Actionable PlanThe final step is to take the identified values and priorities and create a practical, actionable plan. At this stage, couples must decide how to manage their finances, determining specific amounts for various expenses, goals, and savings.When both spouses participate in creating the financial plan, it reflects their unity. For example, if one spouse enjoys making checklists and organizing tasks, they can use that skill to implement the plan effectively. By working together, couples can move forward with intention, managing their money in a way that reflects their shared goals.The Role of Prayer and Patience in Financial UnityFor couples who find themselves struggling to get on the same page, Rachel offers two pieces of advice:Submit to one another out of reverence for Christ (Ephesians 5:21). Unity cannot happen without mutual respect and cooperation. Acting independently or without your spouse’s agreement can lead to division rather than unity.Pray for your spouse. If God is leading you to make a financial decision, trust that He can also speak to your spouse. Instead of pushing or pressuring, pray for God to bring unity and change hearts if necessary.By understanding each other’s values, prioritizing goals, and creating a practical plan, couples can manage their finances to honor both spouses and bring peace to their relationship. And when challenges arise, prayer and patience can help foster the unity that God desires for every marriage.For more financial wisdom from Rachel McDonough, visit her firm’s website at WealthSQ.com.On Today’s Program, Rob Answers Listener Questions:My mom has a vacant house that's expensive to maintain. I've been advised to use it as an Airbnb or rent it out. I don't know which option is better. The Airbnb route makes me nervous since I don't know much about it. What do you recommend?Resources Mentioned:Wealth SquaredLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner wi

Many believers would agree that churches should follow the same financial principles that God’s Word provides for individuals. But even within that agreement, there’s still plenty of room for debate. For example, should churches borrow for building and expansion projects?Borrowing for church projects can be a sensitive topic, raising important questions about finances and faith. While the Bible does not declare borrowing a sin, it does offer several warnings about its potential pitfalls. Let's explore the biblical principles and guidance for churches considering debt.Biblical Warnings About DebtProverbs 22:7 says, “The rich rule over the poor, and the borrower is a slave to the lender.” This warning reminds churches that while borrowing isn’t inherently sinful, it can create a burden and dependency on lenders. The late Larry Burkett emphasized that debt can be destructive if taken to excess, and it’s more about an attitude than an absolute rule.Principles for Church BorrowingFinancial expert Ron Blue offers several key principles for churches to follow when considering borrowing:The benefit should outweigh the cost.A clear repayment plan should be in place.Church leadership should be unified in the decision to borrow.Borrowing should bring peace of mind, not anxiety.The debt should align with God-given goals.These principles help guide churches in making thoughtful decisions about whether to borrow, ensuring that financial obligations don't overshadow their spiritual mission.Three Biblical Principles for BorrowingDr. Art Rainer, Director of the Institute for Christian Financial Health, encourages healthy debate on the issue of church borrowing, outlining three key principles for churches grappling with the issue of debt:Use Caution—Proverbs 22:26-27 advises against entering agreements without being sure of repayment. Churches must ensure they can meet their obligations to avoid damaging their witness.Consider the Congregation's Burden—Debt limits funds available for outreach and missions. As Proverbs 22:7 reminds us, “the borrower is a slave to the lender.”Debt Creates Opportunities for Sin—Psalm 37:21 warns against failing to repay debts. Churches should secure loans with collateral and ensure a repayment plan is in place.Despite the cautions, many churches borrow successfully to expand their ministry efforts. If your church chooses to borrow, selecting a financial institution that shares your Christian values can be a game-changer. Christian Community Credit Union (CCCU) is a trusted partner for churches, providing over $1 billion in ministry real estate loans. CCCU aligns with Christian values and offers financial tools to help ministries thrive.Making an Impact Without BorrowingEven if your church decides against borrowing, you can still make an impact. By opening an account at CCCU, you support other churches and ministries through your deposits. To learn more, visit JoinChristianCommunity.com.While borrowing isn’t sinful, churches must carefully consider the financial and spiritual implications before taking on debt. By following biblical principles and partnering with the right institutions, churches can make informed decisions that support their mission to advance the Gospel.On Today’s Program, Rob Answers Listener Questions:I've been seeing many of these advertisements about debt cancelation on the internet, on Facebook, and in places like that. There's one going on right now: if you're a veteran and owe $20,000 or $30,000 or more, you can get it wiped out. Is stuff like this a legitimate deal, or is it a scam?I'm selling my home and will have a surplus after buying a new home outright. I just retired and want to stay retired. Should I use the surplus to live off of, draw my Social Security, or invest the money?My question is about my retirement investment with my employer versus my investment in a high-yield savings account. I've been with my employer for three and a half years. Its growth has been 2.47% during that time, and my high-yield savings account rate is 5.2%. I'm trying to understand which investment would be most beneficial.I heard you guys talk about a reverse mortgage and was thinking about it for my 90-year-old mother. We’ve been in conversation with Movement Mortgage and started the process, but I got cold feet because of the fees. So, I am wondering what your thoughts are about this and whether this is a good idea. Resources Mentioned:Christian Community Credit UnionLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithfu

Can you name two things that don’t seem to go together—but actually do? How about freedom…and budgeting?We hear from folks all the time who feel that living on a budget cramps their style, hems them in, and makes them feel trapped. Brandon Sieben is with us today to make the case that just the opposite is true.Brandon Sieben is the Chairman of the Board at Compass Financial Ministry. How Simplified Finances Lead to Peace of MindAlthough budgeting might seem restricting, it can lead to financial freedom and peace of mind. Here are the fundamental principles to consider if you’re struggling with putting together a budget: 1. Keep It SimpleThe first principle of freedom budgeting is simplicity. Often, people avoid budgeting because they think it's too complicated or time-consuming. The goal is to make the process easy, so you'll stick with it, whether utilizing a simple Excel spreadsheet on the fridge to track your expenses or using a tool like the FaithFi app for simplicity and visibility.2. Be HonestThe second principle is honesty and transparency. As Jesus said in John 8:32, "The truth will set you free," and this holds true for budgeting. Many people avoid budgeting because they fear what they’ll find—that their spending exceeds their income. Being honest about where your money is going is crucial to financial freedom.3. Allocate Non-Negotiables FirstNext, it's crucial to prioritize the "non-negotiables"—the essentials that must be paid first, such as tithing, rent, utilities, and food. After these basics are covered, you can think about discretionary spending.4. Save Every MonthEven while playing financial defense, it’s essential to start saving something every month. The habit of saving, no matter how small, is crucial. If you spend every dollar you earn, you have no options. But if you save a portion, even 20%, you’ll begin to build financial flexibility and choices over time.5. Budget for FunOnce you’ve applied the first four principles—simplifying, being honest, prioritizing needs, and saving—you can move on to the final principle: budgeting for fun. Financial freedom doesn’t mean depriving yourself indefinitely. As your savings grow, you can intentionally allocate money for enjoyment.Through these principles, you can move from financial overwhelm to freedom. You can eliminate the anxiety that robs you of joy and embrace a lifestyle aligned with God’s plan for you. As Luke 16:13 reminds us, "You cannot serve both God and money." By choosing God’s principles over financial chaos, you can find freedom.By keeping it simple, being honest, prioritizing needs, saving consistently, and allowing room for fun, you can reduce anxiety and experience the freedom that comes from managing money well.On Today’s Program, Rob Answers Listener Questions:Can you provide me with more information about the Christian Credit Union you partner with? What book do you recommend for passing down inheritances to your heirs? Your show has been a great gift to my wife and me during a tough time. We faced a costly 3-year lawsuit, but your program helped us through it. While our savings took a hit, we have a thriving family business and remain active in our community and church. I used to feel ashamed of our struggles, but I've learned this challenge was part of our journey. Your show reminds us that our future is in God's hands. Thank you for being such a blessing and encouragement.Our oldest son and his wife had purchased a piece of property to build their house. I found a better piece of property and wanted to help them by lending them the money to buy the new property. The interest rate they would have to pay at the credit union was twice what I got in a high-interest savings account. So, I loaned them the money and told them I only wanted the interest rate. I'm a little conflicted on whether I should continue charging that interest, which they are paying monthly, or if I should just forgive that interest.Resources Mentioned:Compass Financial MinistrySplitting Heirs: Giving Your Money and Things to Your Children Without Ruining Their Lives by Ron Blue with Jeremy WhiteChristian Community Credit UnionLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today’s parents have better ways to save for their kids’ college than existed a generation ago. So, are you making the most of your college savings program?It’s been less than 30 years since Congress authorized the tax-advantaged 529 plans. More options soon followed. Mark Biller joins us today with the pros and cons of several college-savings programs.Mark Biller is Executive Editor and Senior Portfolio Manager at Sound Mind Investing, an underwriter of Faith & Finance. The Rising Cost of CollegeOver the past few decades, the cost of higher education has increased at a rate much higher than general inflation. Today, more than half of college graduates leave school with student loans, and the average debt load has nearly doubled in the last 15 years. For parents, saving for college can be daunting, but starting early is essential. For instance, if you have 14 years to save for a child’s education, you'll need to set aside about $520 per month to cover 70% of the four-year cost at a public institution. Waiting until your child is older will require much larger monthly contributions.One of the most important strategies is involving your children in the savings process. Helping them understand that any unmet costs will turn into debt in the future can encourage them to contribute through savings, summer jobs, scholarships, and financial aid. This also teaches them the value of disciplined saving.Best Programs for College SavingsWhile there are many options available for college savings, there are specifically three key vehicles: Coverdell Education Savings Accounts (ESAs), 529 Plans, and Roth IRAs. Each has its own strengths and weaknesses.1. Coverdell Education Savings Accounts (ESAs)Coverdell ESAs offer flexibility in investment choices, allowing parents to make specific investment decisions and adjust their portfolios as needed. However, there are income limits for contributors and a maximum contribution of $2,000 per year, which may not be enough if you're starting late in the game.2. 529 PlansThese plans have become the most popular option for college savings. They offer tax-free growth on your investments as long as withdrawals are used for qualified educational expenses. Many states also provide tax benefits for contributions to 529 plans. While they don’t offer the same investment flexibility as Coverdell ESAs, they allow higher contribution limits and have no income restrictions, making them suitable for high-income families. Age-based portfolios, which automatically adjust investments as your child gets closer to college, can simplify the process for busy parents.3. Roth IRAsRoth IRAs are typically associated with retirement savings, but they can also be useful for college savings. You can withdraw contributions without penalties to pay for college expenses. However, you'll need to be at least 59½ years old to avoid penalties on earnings. Roth IRAs provide the flexibility to use the funds for retirement if your child doesn’t need them for college.Choosing the Right OptionWhen it comes to saving for college, it’s not necessarily about choosing one program over another. Parents can use a combination of these accounts, such as contributing to both a Roth IRA and a 529 plan. The key is to start early to maximize the benefits of compounding. The earlier you begin saving, the less you’ll need to set aside each month.With the rising cost of college, saving early is crucial to minimizing student debt for your children. Whether you choose a Coverdell ESA, 529 plan, Roth IRA, or a combination, the important thing is to take action. Don’t put this off. The earlier you make a decision to start contributing, the more you can get compounding working for your earnings.For more detailed information on these college savings options, you can visit Sound Mind Investing and read their full article, “Making the Most of Your College-Savings Program,” at SoundMindInvesting.org. On Today’s Program, Rob Answers Listener Questions:My question was about the 401(k) left to me by a dear friend who passed away. I'm 80 years old, and I understand I can't leave that 401(k) to anyone else as a beneficiary. I wanted to know if I could roll it over, put it in something else, or even take a penalty to access the funds since I'm not sure I'll be able to use it for very long, given my age. I was surprised to hear that I might be unable to name a beneficiary for the inherited 401(k), so I wanted to see if that was true. My auto insurance has significantly increased over the last two years, and it went up again with my latest policy renewal. I want to look for another auto insurance company, but I'm specifically looking for one that is biblically based and doesn't give money to organizations that go against my values. I'm already a Christian Community Credit Union member, so I wondered if they or any of their partners offer auto insurance options that align with my Christian beliefs.I'm a nurse who had to apply for Social Security benefits

They say life insurance is like a parachute. If you don’t have it the first time, odds are you won’t need it again.While that’s a funny line, all kidding aside, life insurance is the only way most people can provide for their families if they should die. But what happens when it ends?Term life insurance is often recommended due to its simplicity and affordability. Unlike whole life insurance, it doesn’t combine investing with a death benefit, allowing you to invest separately for better financial returns. But when your term life insurance expires, what should you do? Let’s explore the four options available to you.1. Let the Policy LapseWhen your term life insurance expires, you can choose to let the policy lapse. This option may make sense if you no longer need life insurance. For instance, if your kids are grown, out of the house, and supporting themselves, and your spouse’s income (plus Social Security survivor benefits) can cover their needs, you might find that life insurance is an unnecessary expense. In such cases, you can redirect that money into your retirement savings or other financial goals.2. Purchase a New Term PolicyYou may need a new term policy if you still have dependents who rely on your income or if your spouse’s income cannot cover your household expenses. A common recommendation is to aim for a death benefit that’s 10 to 12 times your annual salary.However, be prepared for higher premiums. The cost of a new policy increases with age, so a 50-year-old male could expect to pay around $80 a month for a $500,000 policy—about four times what a 30-year-old would pay for the same coverage. That said, you may need less coverage if the policy is intended only for your spouse, such as a policy that would cover your remaining mortgage balance.Ways to Reduce Premiums:Lower the death benefit: If a $500,000 policy is too expensive, consider reducing the coverage to $250,000 or another lower amount that still meets your needs.Shorten the term: If a 20-year term is costly, a 10-year term might be sufficient to ensure you meet financial obligations like paying off a mortgage. Pay annually: Some insurance companies offer a 5% discount if you pay your premiums in a lump sum once a year rather than monthly.3. Extend Your Current Policy Another option is to extend your existing term policy. The advantage here is that you won’t need a medical exam or any additional underwriting. However, the cost will likely be higher because the insurer assumes more risk by not evaluating your current health. If you’ve developed a severe medical condition that disqualifies you from purchasing a new policy, extending the current one may be your best option—if you can afford the premiums.4. Opt for a Simplified or Instant Issue PolicyIf extending your policy or getting a new one isn’t feasible, you can consider a "simplified term" or "instant issue" policy. These policies don’t require a medical exam, and you can often get approved online. However, there are some trade-offs:Smaller death benefit: Instant issue policies tend to offer lower coverage amounts.Shorter term: The length of the policy may be shorter than standard term policies.Higher premiums: The convenience of skipping a medical exam comes at a price, as these policies often cost more than traditional term policies.Despite these drawbacks, an instant issue policy could be a blessing if other options are unavailable due to medical conditions or financial constraints.When your term life insurance expires, you have several options, each with pros and cons. Whether you let the policy lapse, buy a new one, extend your existing coverage, or opt for a simplified policy, the best choice depends on your current financial situation and future needs. Evaluate your options carefully to ensure you’re providing for your loved ones in a way that aligns with your budget and long-term goals.On Today’s Program, Rob Answers Listener Questions:My husband's new church is providing a portion of his salary specifically for retirement, and they want us to manage it. We've already maxed out our Roth IRAs. What's the best way for us to save and invest this additional retirement money the church is giving us?I have a 22-year-old son who is graduating with a computer science degree. He's worked part-time since high school and is very frugal with his money. Now that he'll be making much more money in a full-time job, I don't have much financial wisdom to offer him when investing his money. What percentages should he put into savings versus investments? And what would be the best way for him to invest his money?Resources Mentioned:Open Hands FinanceList of Faith-Based Investing FundsLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith

Student loan forgiveness is much in the news these days. It’s on. It’s off. It’s on again, maybe. What’s the lesson here? The lesson is this: Avoiding student loan debt is much easier than getting out of it. It just takes discipline. We’ll talk about that with Dr. Art Rainer today. Dr. Art Rainer is the founder of the Institute for Christian Financial Health and Christian Money Solutions. He is a regular contributor here at Faith & Finance and the author of “The Money Challenge for Teens: Prepare for College, Run from Debt, and Live Generously.” A Biblical Foundation for College FinancesWhen it comes to preparing for college, it’s important to keep Proverbs 22:7 in mind: “The rich rules over the poor, and the borrower is the slave of the lender.” This verse serves as a crucial reminder that borrowing money, especially for education, can lead to long-term financial burdens. It’s easy to accumulate tens of thousands of dollars in student debt that could take decades to repay.Four Strategies to Minimize College DebtIn The Money Challenge for Teens, Dr. Art Rainer outlines four key strategies to help students minimize, or even avoid, college debt:Start Saving Now: The sooner you begin saving for college, the less you’ll need to borrow.Take College-Level or AP Courses Now: These can reduce the number of credits you need to take in college, lowering your overall tuition costs.Explore Scholarships and Grants: There’s a wealth of financial aid available, but you need to seek it out and apply diligently.Be Willing to Work While in School: Many students work part-time jobs to help cover tuition and reduce the need for loans.While these strategies require effort and discipline, they’re far easier than paying back $30,000 or $40,000 in student loans after graduation.Avoiding Costly Misconceptions About CollegeDr. Art Rainer also shares a list of common misconceptions that can lead to unnecessary student debt. Understanding and avoiding these pitfalls can make the college journey much smoother:Misconception #1: Attending a Costly School Guarantees a Better Job: Higher tuition doesn’t always translate to higher salaries. Employers care about your degree, not how much you paid for it.Misconception #2: You Need the Whole “College Experience”: Some students work during college to offset tuition costs, which can prevent long-term debt.Misconception #3: It’s Okay to Stretch Out College: While there’s some flexibility, extending your degree program can increase costs and the risk of not completing your degree.Misconception #4: You Don’t Need to Know What You’re Signing: Educate yourself on student loans before signing anything. Understand the commitment and explore alternatives.Misconception #5: Everything Will Take Care of Itself: Student loans are difficult to escape, even surviving bankruptcy. It’s crucial to manage your debt and avoid complacency.Misconception #6: There’s No Other Option: While college costs are high, there are always options like scholarships, grants, and community college. Explore every avenue before taking on debt.Putting in the Hard Work NowIt’s far better to put in the hard work now—saving, applying for scholarships, and working while in school—than to be burdened with student debt later. By being proactive and informed, students can avoid the financial pitfalls that so many others face.For more insights and resources from Dr. Art Rainer, visit his website at ChristianMoneySolutions.com. If you’re interested in becoming a Certified Christian Financial Counselor (CertCFC), visit ChristianFinancialHealth.com. On Today’s Program, Rob Answers Listener Questions:How could we use our required minimum distributions (RMDs) to make donations to the church and offset the tax impact? I’m looking for a formula or chart to help calculate the potential tax savings.I'm still working and scheduled to retire within the next couple of years. My employer has an actual person who manages our retirement plan, but I wanted to find out how to invest in things that align more with my faith and ensure I'm not supporting something I don't want to be supporting.Should I move my 403(b) funds to a CD ladder to safeguard them from market volatility, and would that result in a tax burden?How do I access the $36,000 cash surrender value of my 68-year-old friend's whole life insurance policy, and what happens when the policy is discontinued?Resources Mentioned:The Institute For Christian Financial HealthList of Faith-Based Investing FundsLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more pe

“​​Look at the birds of the air: they neither sow nor reap nor gather into barns, and yet your heavenly Father feeds them. Are you not of more value than they?” - Matthew 6:26God has promised to provide, and He is ever faithful. Knowing that is one thing; believing and living by it is another. Taylor Standridge and Chad Clark join us today to launch a brand new tool to help you overcome financial fear and anxiety. Taylor Standridge and Chad Clark (along with Carolyn Calupca) are the authors of the new FaithFi devotional “Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety.” Chad Clark is also the Executive Director of FaithFi: Faith & Finance, and Taylor Standridge is the Production Director of FaithFi: Faith & Finance. Why This Devotional is So ImportantAt FaithFi, we're excited to introduce a brand new resource, Look at the Sparrows: A 21-Day Devotional on Financial Fear and Anxiety. This devotional, authored by Taylor Standridge and Chad Clark, with contributions from Carolyn Calupca, addresses one of the most pressing issues many people face today—financial anxiety. This resource is designed to guide you through the challenges of financial fear, helping you find peace and rest in God's promises.Financial anxiety is a struggle that many people face daily. Whether it's on the Faith and Finance radio program, through our app, or in our community, we hear about it all the time. Financial anxiety isn’t just about the numbers in your bank account; it runs much deeper, often affecting us on a spiritual level. This devotional was born out of a desire to help people recognize the root of their financial anxieties and to offer practical, biblical solutions that lead to peace.The Structure of the DevotionalThe devotional is beautifully structured into seven sections, each containing three devotionals. Each section begins with a portion of Jesus's Sermon on the Mount, and the following devotionals build on that theme. The sections cover topics like "You Can't Serve God and Money," "Don't Be Anxious About Your Life," and "Seek First the Kingdom of God."But this devotional is more than just a daily reading. It invites you to engage deeply with the content. Each day includes a Scripture passage, a devotional reflection, questions for deeper thought, a guided prayer, and a pivotal truth to ponder throughout the day. By the end of the 21 days, you'll have memorized Matthew 6:19-34, grounding you in God's Word as you navigate your financial journey.The Design Behind the DevotionalThe design of Look at the Sparrows is as thoughtful as its content. We wanted the design to reflect the experience of financial anxiety and the hope that God offers. The black-and-white theme symbolizes the darkness of fear, while a pop of gold represents both worldly treasure and the eternal hope we find in God. This design is intended to draw you into the devotional, helping you to focus on the themes of treasure, trust, and God's provision.Experiencing Peace Through Trust in GodOne of the key messages of this devotional is learning to trust God with your finances, freeing yourself from the grip of anxiety. We often try to control our financial future, but real peace comes when we trust that God knows our needs better than we do. This devotional encourages you to see God as your ultimate treasure, helping you to release your worries and rest in His provision.How to Get StartedWe invite you to dive into Look at the Sparrows and experience the transformation that comes from focusing on God's promises. You can learn more about this devotional and get your copy by visiting faithfi.com/sparrows.If you're looking for even more resources and want to support the work we do at FaithFi, consider becoming a monthly partner. As a FaithFi partner, you'll receive devotionals and studies before they're available to the public, plus you'll help sustain our radio program, podcast, website, and app. It's a meaningful way to invest in the kingdom work we're doing together. Become a FaithFi partner when you give a monthly gift of $35 or more a month to support the mission and ministry of FaithFi: Faith & Finance. Just go to FaithFi.com/give. We hope and pray that Look at the Sparrows will help you break free from the weight of financial fear and anxiety, guiding you toward God being your ultimate treasure as you find peace and rest in Him. Join us on this 21-day journey, and let God transform your perspective on finances and life.On Today’s Program, Rob Answers Listener Questions:I have a question about some faith-based brokerage firms. Many larger, more nationally known firms have a broader spectrum of offerings. I'm wondering if you know of one or where I could find information on one that might be better aligned with faith-based investing or more of a morally conservative values approach in many of their products.My husband is considering retiring in a couple of years, but we just realized that his life insurance is with his job, and we don

All your relationships—with your spouse, family, and friends—are important but temporary. Your only eternal relationship is with God.The bonds of family and friends help us thrive in this world, but they pale in comparison to the significance of our relationship with the Lord. Today, I’ll share some practical ways you can draw closer to God.Connecting Faith and Finances: Why Your Relationship with God Affects Your MoneyYou might wonder, "What does my relationship with God have to do with finances?" After all, this is a blog about money, right? Yes, but it’s also about faith. For Christians, faith and finances are deeply intertwined, and the Bible provides three key principles that connect the dots between the two.Principle 1: God Owns EverythingThe first principle is foundational: God created everything, and therefore, He owns everything. Colossians 1:16 makes this clear: “For by him all things were created, in heaven and on earth, visible and invisible, whether thrones or dominions or rulers or authorities—all things were created through him and for him.” This means that everything we possess is ultimately God’s, not ours.Principle 2: God Has Entrusted Us with ResourcesThe second principle is that God has given us everything we possess. James 1:17 says:“Every good gift and every perfect gift is from above, coming down from the Father of lights, with whom there is no variation or shadow due to change.” While God owns everything, He has entrusted us with resources to use temporarily as His stewards.Principle 3: God Desires a Close Relationship with UsThe third principle is that God is not distant or detached—He desires a close relationship with each of us. James 4:8 says: “Draw near to God, and he will draw near to you.” We draw near to God by obediently following His Word. With over 2,300 verses about money and possessions in Scripture, God has made it clear that He wants us to manage money according to His principles.The Spiritual Impact of Money ManagementIn Luke 16:11, Jesus indicates that God uses money as a test: “If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches?” Jesus is saying that how you handle money affects your spiritual life. When you manage it well—according to biblical principles—you naturally grow closer to Christ. But if you don’t, your fellowship with the Lord suffers.Obstacles to Financial FaithfulnessBiblical money management is a practical way to improve your spiritual life, but obstacles can get in the way. Two types of disobedience can prevent us from handling money God’s way and growing closer to Him.Passive Disobedience: This is simply laziness. Some people don’t want to take the time to organize their finances, create a budget, or track their spending. While these tasks might only take a few hours a month, it’s often too much to bother with. Sadly, the same person might spend more time than that watching TV every night, and as a result, their intimacy with God suffers.Active Disobedience: For others, money and possessions actively compete with Christ. Jesus warns us in Matthew 6:24, “No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.” Some people believe they can surrender every part of their lives to Christ except for their finances. They might excel at making money, paying bills, saving, and investing, but they refuse to give Christ lordship over their finances. This resistance often centers around tithing or giving to God’s Kingdom, leading to a weakened relationship with Christ.Finally, there are those who don’t follow biblical financial principles yet believe their relationship with the Lord is just fine. To them, we might say, “What you don’t know will hurt you. What are you missing out on?” If that’s you, commit to the Lord in earnest prayer and follow through by managing your money and possessions according to His principles.Take the Next StepIf you’re ready to align your finances with your faith, start by downloading the free FaithFi app. It will help you set up a budget based on the envelope system and provide you with the best Christian financial content to grow closer to God. Commit to following His financial principles for three months and see if your relationship with the Lord becomes more intimate.Aligning your finances with God’s Word is not just about managing money; it’s about deepening your relationship with Christ. By faithfully stewarding the resources God has given you, you’ll experience the true riches of a closer walk with Him.On Today’s Program, Rob Answers Listener Questions:My kids are buying their first home, and I've offered to help them with the closing costs. Is giving them a loan or a gift better? What are the tax implications of each option?I just retired about three weeks ago, and I have a mortgage balance left on my house of about $26,000 with a 15-year term. We've been making e

You’ve probably heard it said that “anything worth doing is worth doing well.”Today, we’ll find out why working hard at something can pay big dividends—spiritually and financially.The Secret to Success: Discipline in Every Area of LifeWhat does it take to succeed? If you ask any successful person, they’ll likely tell you that success doesn’t happen by accident—it requires hard work, preparation, and the ability to learn from failure. As former U.S. Secretary of State General Colin Powell once said, “There is no secret to success. It is the result of preparation, hard work, and learning from failure.”Success demands more than wishful thinking, whether in finances, job, school, or relationships. It requires action and, most importantly, discipline.The Importance of DisciplineAthletes understand this concept well: the more reps you do in the gym or the more miles you run, the better you perform on competition day. The principle of “no pain, no gain” is universally recognized. Similarly, students who study consistently, take good notes, and complete their homework are better prepared to ace their exams.The same is true for your finances. Practicing discipline in saving, spending, and giving significantly increases your chances of achieving your financial goals. On the flip side, neglecting discipline now often leads to the pain of regret later. Hebrews 12:11 puts it this way:“No discipline seems pleasant at the time, but painful. Later on, however, it produces a harvest of righteousness and peace for those who have been trained by it.”Financial Disciplines and Their BenefitsThe Bible emphasizes the importance of discipline in the life of a Christian, both spiritually and practically. Growing as a disciple of Christ requires more than passive observation; it requires active engagement and discipline. While discipline may be challenging, it can also be a source of great joy. Let’s explore a few examples of financial discipline and its benefits.Consistent Saving: Perhaps you’ve committed to saving a portion of your paycheck every week. This discipline requires effort, but the benefit is the reduced stress about future financial needs. Regular saving builds a financial cushion, giving you peace of mind.Faithful Giving: Giving faithfully to the Lord requires discipline, but it comes with the joy of participating in God’s Kingdom work and the satisfaction of helping others. Generosity enriches your life in ways that money cannot.Paying Down Debt: It takes discipline to chip away at your debts, but the benefit is progress toward financial freedom. Imagine the joy and relief you’ll feel when you’re finally debt-free!Sticking to a Financial Plan: Adhering to a financial plan demands discipline, but it rewards you with peace and confidence. Knowing where each dollar comes from and where it’s going is essential for financial stability and success. If you’re not currently practicing the discipline of a spending plan, we can help. Download the FaithFi app or visit us online at FaithFi.com to create your personalized spending plan.The Joy of DisciplineBeing a good steward of the resources God has entrusted to you requires discipline. While the disciplines of saving, giving, paying off debt, and sticking to a plan may be challenging, they serve a higher purpose.As we read earlier in Hebrews, discipline can be painful, but it also brings joy. Here’s why:Positive Results: Discipline yields positive outcomes. In the realm of finances, you can rejoice when your savings grow, when you make progress in paying off debt, and when you see the fruits of your planning and generosity. These successes make the hard work worthwhile.Peace in Financial Stewardship: Following God’s principles of stewardship and integrity in money matters brings peace to your financial life. There’s a deep sense of satisfaction in knowing you’re managing your resources wisely.The Joy of Order: When you compare the chaos of financial mismanagement with the peace of careful stewardship, it’s easy to see which is more joyful. It’s far better to have all your financial “ducks” in a row than to be constantly chasing them.Overcoming SetbacksEven with the best intentions, none of us make the right financial choices every time. Whether you overspend your budget or miss a loan payment, it’s not the end of the world. Acknowledge your mistakes, seek help if necessary, submit your plans to the Lord, and get back on track. God has entrusted you with specific resources to manage, and when you exercise discipline with your money—and your spiritual life—you’ll experience a harvest of righteousness and peace. That’s true success in anyone’s book!On Today’s Program, Rob Answers Listener Questions:I recently inherited a retirement account from my deceased husband. I want to convert the money into a down payment for a house, and I would like to know if you have any advice on the least painful way to do that.I'm 46, and I have a traditional IRA that I am strongly considering conve

You’ve saved up your downpayment and found the perfect house to buy. But have you considered closing costs?They’re really the first big expense you’ll have with home ownership. Which can you negotiate, and which are set in stone?The Hidden Costs of Homebuying: What You Need to Know About Closing CostsBuying a home is an exciting milestone, but amidst the thrill of owning your first house, it’s easy to overlook the long list of closing costs that come with it. Many people think that because these costs are often rolled into the mortgage, they don’t need to worry about them. However, understanding and negotiating these costs can save you a significant amount of money in the long run.For a typical mortgage, closing costs usually range between 3% to 6% of the mortgage amount. Let’s break it down with an example. Suppose you borrow $250,000 at 6.5% interest on a 30-year loan. Your monthly payment would be around $1,580. If your closing costs are on the higher end—say $15,000—and you roll them into your mortgage, you’re now borrowing $265,000 instead of $250,000. This increases your monthly payment by $95, leading to an additional cost of over $34,000 over the life of the loan.In short, closing costs matter. Being aware of them and negotiating where possible is crucial.Negotiable Closing CostsSome closing costs come with wiggle room, meaning you can negotiate them down. Here are a few:Homeowners Insurance: Your lender requires this, but you can shop around for the best rates. Don’t assume the insurer suggested by your lender or agent is the best option.Origination Fee: This fee typically covers the cost of underwriting the loan and is usually about 1% of the loan amount. Always ask to have it waived or lowered; you might not succeed, but asking costs nothing.Underwriting Fee: Some lenders charge this fee in addition to or instead of the origination fee. Again, you can negotiate this.Loan Application Fee: This one-time fee for processing your loan can also be a candidate for negotiation, especially if you’re already paying an origination or underwriting fee.Real Estate Commissions: Traditionally, sellers have paid the commissions for both the seller’s and buyer’s agents. However, recent changes in the real estate industry mean buyers may now be asked to contribute. It’s another area to negotiate.Title Insurance: You’ll need to buy lender’s title insurance, which only protects the lender. You can shop around for better rates and suggest a different insurer to your lender. Don’t forget to purchase owner’s title insurance to protect your ownership.Non-Negotiable Closing CostsWhile some closing costs can be negotiated, others are fixed. These include the appraisal fee, credit check fee, government fees (such as title transfers or recording costs), and property taxes. You should be prepared to pay these costs without expecting any leeway.The Importance of Integrity in Your Mortgage CompanyWith so much money on the line, it's essential to work with a mortgage company that operates with transparency and integrity. Movement Mortgage is a Christian mortgage company founded during the 2008 housing crisis. Its mission is to help homebuyers while glorifying God by positively impacting communities within the U.S. and abroad.Movement Mortgage offers competitive rates and the opportunity to be part of a global movement of change. The company has donated $377 million to community projects both locally and internationally. With locations in all 50 states, Movement Mortgage is a lender you can trust to guide you through the home-buying process with integrity.For more information, you can visit FaithFi.com/Movement.On Today’s Program, Rob Answers Listener Questions:Are permanent endowments biblical in a Christian context? I'm thinking of a Christian university, nonprofit, or other Christian organization with a permanent endowment where the original gift can never be touched and only the income can be used. What are your thoughts on the biblical perspective of this?I had a TIAA account that my husband took out as an adjunct professor at the local community college. It's just a small amount, and because I'm 76, I've been required to take a certain amount out each year. I want to give this to my son so those amounts can stay there and start accruing interest. Can I do that?I'm trying to mitigate the taxes on the sale of a rental house. Can I use the proceeds to satisfy my required minimum distribution (RMD), or does the RMD have to come from an IRA? Also, my husband has had a whole life insurance policy since he was 20. Is there ever a time when whole life insurance is beneficial?Resources Mentioned:Movement MortgageWill We Be Rewarded for Leaving Money to Christian Ministries in Our Wills? (Article by Randy Alcorn)Rich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at

A recent survey shows that most parents think they should teach their kids financial literacy; the good news is that many are actually doing it.Still, other parents may not know how to teach their kids financial responsibility. Ron Blue joins us today to discuss how he and his wife, Judy, did it.Ron Blue is the co-founder of Kingdom Advisors and the author of many books on biblical finance, including “Your Kids Can Master Their Money: Fun Ways to Help Them Learn How.”The Importance of Financial Education at HomeA recent survey by the Bank of Oklahoma Financial reveals that 85% of parents believe they should teach their kids about financial responsibility, with many acknowledging that this should also be a part of school curricula. However, a significant portion of parents, about one-third, feel that schools aren't sufficiently addressing this topic. Encouragingly, 65% of parents are actively teaching their children about money management.Children learn best by observing their parents’ financial habits. The old adage "more is caught than taught" rings true—kids learn to manage money by seeing how their parents handle it. However, teaching financial responsibility has become more challenging with the rise of credit cards and digital transactions.Age-Appropriate Lessons For ChildrenFor younger children, Ron Blue and his wife Judy used a simple yet effective method: the envelope system. Starting at age eight, their children received envelopes designated for different purposes: giving, saving, spending, gifts for the family, and clothing. This hands-on approach taught the kids about budgeting, prioritizing, and the importance of giving.As their children entered high school, they introduced them to more advanced financial tools, such as credit cards, while educating them about responsible usage. This early exposure helped their children understand the implications of credit and the importance of managing money in a digital society.Today, parents have even more resources at their disposal. Ron Blue suggests using debit cards and budgeting apps, such as the FaithFi app, to help children manage their finances. By teaching children about money early on, parents can equip them with the skills and wisdom needed to navigate the financial challenges of life.On Today’s Program, Rob Answers Listener Questions:I had a stroke and had to retire early, and now the only thing I have is my home. I received a letter about a reverse mortgage, and I was wondering if that could help me.I was just curious about your thoughts on Fisher Investments and whether 1.25% is too much to pay for the management of my funds.I'm on disability, and I'm eligible for Social Security, but I can't draw both at the same time. My Social Security is substantially higher than what my wife would be. Can she draw mine?I have a mortgage on a new home and want to refinance due to the high interest rate, but I'm unsure if I should wait, recast the loan, or put money towards the principal. What are the advantages of those options?Resources Mentioned:SSA.gov (Social Security Administration)Zillow.comRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

“We know that our old self was crucified with him in order that the body of sin might be brought to nothing, so that we would no longer be enslaved to sin.” - Romans 6:6Being born again in Christ changes a person. We’re given a new nature that fights against our old, corrupt nature. Sometimes, the evidence of this is in the area of finances. Straight ahead—a journey to faithful stewardship.Bobby’s TestimonyIt's always a great privilege to connect with people, answer their financial questions, and offer help whenever possible. Recently, we spoke with Bobby from Nebraska, whose story is a powerful testament to the transformative power of faith and determination.Bobby was in a tough spot. He had accumulated significant debt, including a car repossession, delinquent medical and credit card debt, and unpaid overdraft loans sent to collections. But despite his financial struggles, Bobby was committed to turning his life around. When asked if anything had changed in his life since accumulating that debt, Bobby shared his story.In his own words, Bobby explained, “Back then, I was big into partying and addicted to drugs. I sold drugs and went to prison for it. Well, now I'm clean and sober. I don't do any of that anymore. I actually have money in my bank account. September 10th, 2021, was the biggest start of it. That’s when I gave my life to Jesus Christ. And now I'm just trying to get everything back in line and where it needs to be.”Hearing how Bobby’s life has changed since inviting Christ in as his Savior was truly inspiring. His commitment to sobriety and financial stewardship is a powerful example of God’s redemptive power.Steps Toward Financial FreedomA few weeks ago, we advised Bobby to take several steps to get his finances in order. First, we recommended that he pull copies of his credit reports from Experian, Equifax, and TransUnion to identify all his debts. Then, we suggested he contact Christian Credit Counselors to help manage his credit card debt through a debt management plan, which would consolidate his payments and help him pay off his debt faster.We also offered to connect Bobby with one of our Certified Christian Financial Counselors (CertCFC) at no charge. This counselor would work with him one-on-one to develop a budget and create a plan for paying off his old debts. Finally, we took a moment to pray with Bobby, thanking God for His miraculous intervention and the gift of eternal life that Bobby had received.Biblical Principles Guiding Bobby's TransformationBobby’s journey highlights several biblical principles that are now guiding his life:The Body as a Temple: Bobby’s decision to give up drugs aligns with 1 Corinthians 6:19, which reminds us that our bodies are temples of the Holy Spirit. Recognizing that we are not our own but belong to God is a powerful motivator for making healthy choices.Humility: Bobby’s willingness to seek help, even on a public platform, reflects the humility described in Proverbs 22:4: “The reward for humility and fear of the Lord is riches and honor and life.”Honesty: Bobby’s commitment to owning up to his debt is a reflection of the biblical principle of honesty. Exodus 20:16 and Colossians 3:9 teach us the importance of living truthfully, especially as followers of Christ.Repaying Debts: The Bible emphasizes the importance of repaying what we owe. Psalm 37:21 says, “The wicked borrows but does not pay back, but the righteous is generous and gives.” Bobby’s desire to pay off his debt is a step toward fulfilling this principle.Stewardship: Perhaps the most significant principle guiding Bobby now is stewardship. He wants to manage his finances faithfully, in line with 1 Corinthians 4:2: “It is required of stewards that they be found faithful.”We were grateful to help Bobby on his journey to faithful stewardship, and we want to extend that same help to you. If you’re struggling with your finances, need help creating a budget, or want to develop a plan to pay down debt and start saving, please reach out to us. We’re here to help you take the next step toward financial freedom and faithful stewardship.Bobby’s story is a powerful reminder that with God’s help, it’s never too late to turn your life around and get back on track. If you’re ready to take that step, we’re here to walk alongside you.On Today’s Program, Rob Answers Listener Questions:I'm 70 and have a lot saved in my retirement accounts. I want to help my daughter and son-in-law, who are in their 20s, buy their first home. What's the best way for me to gift them money from my 401(k) without creating tax issues?I renovated a duplex and am having trouble renting it out. Should I sell the property to avoid capital gains taxes or keep trying to find tenants?I rent out a 3-unit apartment building. Would applying for an LLC benefit this rental property?Resources Mentioned:Rich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC

18th Century preacher John Wesley said, "Do all the good you can, by all the means you can, in all the ways you can, in all the places you can, at all the times you can, to all the people you can, as long as ever you can."That’s how Christians can respond to God's generous and faithful love. Specifically, Jesus called his followers to do good to the poor, and we’ll talk about what that looks like for us.The Biblical Foundation for GivingGenerosity towards the needy is a central tenet of Christian living. Jesus emphasized the importance of loving our neighbors as ourselves, and one of the most tangible ways to do this is by helping those in need. Acts of kindness, empathy, and compassion are not just suggestions—they are essential expressions of our faith.In Luke 12:32-34, Jesus tells His disciples:“Do not be afraid, little flock, for your Father has been pleased to give you the kingdom. Sell your possessions and give to the poor. Provide purses for yourselves that will not wear out, a treasure in heaven that will never fail, where no thief comes near and no moth destroys. For where your treasure is, there your heart will be also.”This passage clearly shows that God expects us to be generous givers. However, generosity doesn’t stand in opposition to good stewardship. In fact, biblical stewardship involves surrendering everything to God, acknowledging that all we have belongs to Him.God calls us to be generous with the resources He has entrusted to us, and He promises to provide for our needs as we do so. John Wesley’s encouragement to “do all the good we can by all the means we can” aligns perfectly with this biblical principle.Reflecting God’s Character Through GivingC.S. Lewis once remarked, “I am afraid the only safe rule is to give more than we can spare.” This highlights the idea that our commitment to generosity should be wholehearted. Opportunities to help the poor will always be available, as Deuteronomy 15:11 reminds us: “the poor will never cease to be in the land.” The Bible encourages us to take these opportunities, whether the needy are fellow believers, those outside the faith, or even our enemies.In biblical times, generosity was more than just giving money; it also meant showing mercy and compassion. This teaches us that practicing righteousness through generosity reflects God’s character and His concern for all people. Proverbs 14:31 emphasizes this connection: “The one who oppresses a poor man insults his maker, but he who is generous to the needy honors him.”Helping the poor is a reflection of God’s character. The Bible describes God as compassionate, gracious, and merciful and calls us to embody these attributes. Psalm 82:3-4 instructs us to "Defend the weak and the fatherless; uphold the cause of the poor and the oppressed. Rescue the weak and the needy; deliver them from the hand of the wicked." Through our generosity, we demonstrate God’s love and justice to the world.The Complexity of Poverty AlleviationHowever, helping the poor isn’t always straightforward. A common dilemma is how to assist without enabling dependency or perpetuating poverty. The Chalmers Center points out that poverty is not just a lack of material resources; it’s a complex issue involving broken relationships with God, self, others, and creation. Effective poverty alleviation must address these spiritual, relational, and material aspects.To avoid harmful giving, they recommend:Avoiding handouts that create dependency.Developing supportive relationships with those being helped.Being cautious about providing goods that can be sourced locally, which could undermine local businesses.Encouraging individuals to use their gifts and abilities.Focusing on long-term solutions rather than temporary fixes.Understanding the full complexity of poverty allows Christians to help in ways that promote dignity, sustainability, and genuine transformation.For those interested in learning more about how to alleviate poverty effectively, consider reading “When Helping Hurts: How To Alleviate Poverty Without Hurting The Poor…and Yourself” and exploring the work of The Chalmers Center. Their research provides valuable insights into this important issue.Ultimately, Christians give generously and compassionately to the poor because we love God, who first loved us. As Irish missionary Amy Carmichael wisely said, “You can give without loving, but you cannot love without giving.” Let our actions reflect this profound truth as we seek to embody God’s love through our generosity.On Today’s Program, Rob Answers Listener Questions:I have a grandson who will be a senior this year and is going to an expensive aviation school for flight school. I would love to help him and pay for the whole thing if necessary, but I don't want just to give him the money. How do I balance helping him financially while also having him work for it and not creating dependency?I currently have a mortgage of about $20,000, and I want to move to a different location. Would i

Owning rental property is like ordering a pizza with anchovies. It’s not for everybody.There’s no question that renting a property can be a lucrative investment, but it’s certainly not a passive investment like owning stock.Owning rental property is attractive for many, but it’s not a perfect fit for everyone. Just like not everyone enjoys anchovies, not everyone has the temperament or resources to be a landlord. Before diving into property management, it’s essential to understand the benefits and challenges of it. Let's explore these aspects to help you decide if being a landlord is right for you.The Pros of Owning Rental Property1. Income StreamThe primary allure of owning rental property is the potential for rental income. If managed well, a rental property can provide a steady cash flow. However, if you have a mortgage on the property, it’s crucial that your rental income covers your mortgage payments and other expenses to avoid a negative cash flow.2. Property AppreciationReal estate typically appreciates over time, meaning your rental property will likely increase in value. This can result in a substantial profit when you decide to sell. However, it’s important to remember that capital gains taxes may apply to this profit.3. Tax BenefitsThe IRS offers several tax deductions for rental property owners. You can deduct expenses such as insurance, mortgage interest, and maintenance costs. Additionally, you can claim depreciation, though this will lower your cost basis and may increase capital gains taxes when you sell the property.4. Personal Use of PropertyIf you own a rental property in a desirable location, like a beach house, you can use it for personal vacations up to 14 days a year (or 10% of the days you rent it out) and still deduct your expenses.5. Renting Out Part of Your HomeYou don’t necessarily need to own a separate rental property. Renting out a portion of your own home, like a garage or basement, allows you to earn rental income and deduct a portion of your mortgage interest and other related expenses.The Cons of Being a Landlord1. High Initial CostsIf you don’t already own a property, buying one to rent can require a significant upfront investment. This often means taking on a mortgage, which you’ll need to cover through rental income. Ensuring that your rental income exceeds your expenses is crucial.2. Lack of LiquidityUnlike money in a checking account, which is highly liquid, funds tied up in real estate are not easily accessible. Selling a property takes time and may not always be an option when you need quick cash.3. Uncontrollable CostsOwning property means dealing with ongoing expenses like taxes and insurance, which can increase over time. Additionally, external factors, such as a decline in the neighborhood, can make it harder to rent out your property or affect its value.4. Tenant ChallengesTenants can be unpredictable. Some may pay rent late or cause damage to the property beyond what a security deposit covers. Even with good tenants, there’s always the need to keep the property in good repair, which can involve unexpected maintenance calls at inconvenient times.5. The Reality of Being a LandlordManaging a rental property requires time, effort, and a firm hand. Being a landlord can be challenging, from finding and vetting tenants to handling late payments or evictions. If these responsibilities sound overwhelming to you, consider hiring a property management company, which typically takes about 10% of your rental income.Seeking Wisdom in Your DecisionDeciding whether to become a landlord is a significant decision that requires careful consideration. It’s important not to make this decision alone. Involve God in your decision-making process. James 1:5 encourages us: “If any of you lacks wisdom, let him ask God, who gives generously to all without reproach, and it will be given him.” Seek His guidance in prayer as you contemplate this big step, and trust that He will lead you on the right path.On Today’s Program, Rob Answers Listener Questions:I received an email from AT&T about a data breach that exposed my personal information. They offered free credit monitoring, but I'm concerned the email may not be genuine. How can I determine if the email is legitimate?I have a question about the guaranteed rates, whether it's high-interest savings or short-term CDs versus a mortgage rate that I locked in back in 2021, which is around 2%. With no additional debt, how do you feel about the balance of making more on my savings versus paying down my low-interest mortgage?Right now, during open enrollment at my work, they offer two insurance plan options—a standard PPO plan and a high-deductible HSA-eligible one. Interestingly, they are paying the full premium for both plans, so I have no difference in the premium cost. Which plan would be best for me to enroll in: the standard PPO or the high-deductible HSA plan?My mother-in-law passed away at the end of December, and upon her death, the hous

More stress doesn’t always equal a higher salary, and if you bring home the stress along with the salary, is it really worth it? If that describes you, maybe it’s time to re-think the purpose of your work. Some statistics claim that 54% of American employees are happy with their jobs, while others claim that 83% are suffering from work-related stress.A Different Question: Why Are You Working?Whether the statistics are accurate or not, stress is a pervasive issue, and work is often a significant contributor. The question arises: What should you do if work-related pressure overwhelms you? Quit? Change careers? Or just grit your teeth and keep pushing through?As believers in Christ, it's essential to step back and ask a fundamental question: Why are we working in the first place? Our desire to do productive, meaningful work is woven into our very DNA. When God created Adam and Eve, He immediately gave them work to do—naming the animals and tending the garden. However, sin has twisted work, and it’s no longer always the fulfilling task God intended. Now, work can be a source of frustration and even illness.Colossians 3:23-24 offers the key to finding purpose and contentment in our jobs: “Whatever you do, work at it with all your heart, as working for the Lord, not for men, since you know that you will receive an inheritance from the Lord as a reward. It is the Lord Christ you are serving.” This scripture reminds us that no matter what job we do, we are ultimately serving God. When we shift our perspective from working for ourselves or even our employers to working for Jesus, our work gains deeper meaning and satisfaction.The Proverbs 31 Woman: A Model of Noble Work EthicFor a practical example of someone who worked as unto the Lord, we can look to the woman described in Proverbs 31. Though we don’t know her name, her virtue and work ethic are clearly outlined, and her actions are worth emulating.Eager Hands: She approaches her work with a positive attitude, understanding that diligence yields benefits.Provision for Family: She takes her responsibility to provide for her family seriously, even rising early to meet their needs.Skillful Expertise: She is wise in her business dealings and uses her skills to benefit her family and community.Vigorous Effort: She works with strength and determination, not idly wasting time but striving to live well.Generosity: Her success allows her to be generous, extending help to those in need.Wisdom and Teaching: Her experience enables her to teach others, and her work ethic benefits everyone around her.Avoiding Idleness: She does not succumb to laziness, understanding the importance of being productive.Most importantly, the Proverbs 31 woman’s actions are driven by her reverence for the Lord: “A woman who fears the Lord is to be praised.” Her success and fulfillment in work are rooted in her desire to serve God.Trusting God with Your WorkAs you navigate the stress and challenges of your job, remember the wisdom of Proverbs 3:5-6: “Trust in the Lord with all your heart and lean not on your own understanding. In all your ways acknowledge him, and he will make your paths straight.” By trusting in God and focusing on serving Him through our work, we can find the strength and guidance needed to overcome job stress and fulfill our true purpose.Work may sometimes feel overwhelming, but when we keep our focus on serving God, we can approach our tasks with diligence, wisdom, and generosity. Let’s strive to work as unto the Lord, knowing that He will provide the strength and direction we need to fulfill our calling.On Today’s Program, Rob Answers Listener Questions:My husband and I are in our mid-20s and expecting our first baby in a few months. We've been told about a 529 college savings account, and I'd like your suggestions on setting her up for future financial success. Would starting a 529 account be a good place to start, or do you have any other ideas?I have a testimony, a confession, and a question. My testimony: Your program inspired us to pay off $36,000 in credit card debt instead of filing for bankruptcy. My confession: We've never successfully made a budget. It gives me anxiety and past attempts have been frustrating. My question: How can I create and stick to a budget? I'm scared to try.Resources Mentioned:SavingForCollege.comRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Thanks to insurance, we don’t very often have bank, savings and loans, or credit union “runs” anymore. Aaron Caid is with us today to discuss how that came about.Aaron Caid is the Chief Marketing Officer at Christian Community Credit Union, an underwriter of Faith & Finance. The Role of FDIC in Banking StabilityWhen we think about bank runs, we often think of the Great Depression. Thankfully, such events are rare today, primarily due to the Federal Deposit Insurance Corporation (FDIC) 's creation through the Banking Act of 1933. The FDIC now insures bank deposits up to $250,000 per customer, providing peace of mind for depositors across the United States.But what about other financial institutions like savings and loans (also known as thrifts) and credit unions? Most of these institutions are also insured by the FDIC, while many credit unions are insured by the National Credit Union Administration (NCUA), established in 1970. Like the FDIC, the NCUA insures deposits up to $250,000 per customer (or tax ID).Private Deposit Insurance: A Closer LookInterestingly, some credit unions opt for private insurance rather than federal insurance. Christian Community Credit Union is insured by American Share Insurance (ASI), a private insurer celebrating its 50th anniversary. ASI covers deposits up to $250,000 per account, offering a unique advantage over federal insurance, which insures per tax ID.No holder of an ASI-insured account has ever lost a dime, a testament to its reliability. One of the main reasons CCCU members chose private insurance is the flexibility it provides, particularly in lending to churches and ministries—an essential aspect of CCCU’s mission. Additionally, ASI requires its member credit unions to maintain a 30% higher deposit ratio, ensuring greater resources and liquidity during challenging times.For those who might be hesitant about private deposit insurance, consider the fact that your home is likely insured by a private company, not the federal government. Private insurance companies have been around much longer than federal insurance corporations, with the first private insurers dating back to 1732.Why Choose Christian Community Credit Union?There are several compelling reasons to consider banking with CCCU:Conservative Biblical Stewardship: CCCU practices conservative financial management, aligning with biblical principles. The credit union carries zero debt, unlike many banks and credit unions that leverage their balance sheets to inflate returns.Strong Financial Stability: CCCU’s capitalization ratio is more than 80% higher than what the NCUA considers “well-capitalized,” and its net worth ratio places it in the top 10% of all credit unions. CCCU has been recognized as a “top 100” credit union nationwide for safety, stability, and growth by S&P Global.Christian Values and Giving: CCCU is unapologetically Christian and a member-owned not-for-profit. Profits are returned to members through better rates and lower fees, and the credit union actively supports Christian ministries, including Mission Aviation Fellowship and International Ministries.Top-Notch Financial Products: CCCU offers competitive financial products, such as high-yield checking and savings accounts, CDs, and the Cash Rewards Visa, which contributes to Christian charities with every swipe.For those interested in learning more about Christian Community Credit Union, Aaron encourages you to visit JoinChristianCommunity.com. Discover how you can benefit from a credit union that prioritizes safety, stability, and a commitment to Christian values.On Today’s Program, Rob Answers Listener Questions:My husband and I are past full retirement age and haven't filed Social Security claims yet. We've been married 43 years, are in good health, and have no dependents or government pensions. My husband is still working and plans to file at 70. If I start Social Security now, I will receive $1,369 monthly, increasing slightly at 69 and 70. We're considering starting my benefits now for two years and then switching to a spousal benefit. What do you think?I used to sell tax shelter annuities and have experience, but occasionally, I hear financial guys knocking them, saying they are not a good investment. However, I think annuities are some of the best. What are your thoughts on annuities?I am turning 65 this January. I have been working full-time at the same job for 26 years, but I am still determining when I'll retire. My question is, do I need to sign up for Medicare within three months of my 60th birthday to avoid a lifetime late enrollment penalty? Or do I wait until I'm retired? I need clarification on the process.I used to work at a hospital and have a 401(k) there, but I've been unemployed for about 90 days. So I could use maybe $1,000 or $2,000 of those dollars. They told me that if I cash out the 401(k), I'll pay 35 or 40% in taxes. If I roll it over to another IRA, I will only pay taxes on what I borrow. Is that true? What's the best t

1 John 2:15 contains a command and a warning for Christians: “Do not love the world or the things in the world. If anyone loves the world, the love of the Father is not in him.”You have a choice—to be worldly or Kingdom-minded with your finances. But beware—God’s way is definitely counter-cultural.What Does Your Money Say About Your Values?In today’s world, many people are inclined to fit in, follow the crowd, and keep up with the Joneses. But as Christians, we are called to live by a different set of values—values that often stand in stark contrast to the norms of society. This counter-cultural way of thinking was exemplified by Jesus throughout His ministry and applies to every aspect of our lives, including how we handle money.The critical question we must ask ourselves is this: Do our actions and attitudes around money reflect the world’s values or God’s? To explore this, let’s imagine a simple exercise. Picture a piece of paper divided down the middle. On one side, we list the world’s messages about money and possessions; on the other, we record what God’s Word says about these same issues. The differences are like night and day.Worldly Messages vs. God’s TruthWorldly Message: God is irrelevant, and nothing—including your financial decisions—truly matters. God’s Truth: Our God is living, loving, and intimately involved in our lives (Matthew 16:16, 1 John 4:16). What we do, including how we manage our money, matters deeply (Ephesians 2:10). Worldly Message: Keeping things brings blessing. God’s Truth: Generosity brings true blessing (Proverbs 22:9, Acts 20:35). Worldly Message: You’re on your own—do it yourself, with no accountability. God’s Truth: The Creator is always with us, our best source of help (Psalm 23:4, Psalm 121:2). Worldly Message: The goal of life is to accumulate more—more wealth, influence, and security. God’s Truth: Earthly things will fade away, but knowing and loving God has eternal value (Jeremiah 9:23-24). Seek God first, and everything else will fall into place (Matthew 6:33). Worldly Message: Wealth and success justify pride. God’s Truth: Pride leads to destruction, while humility brings victory (Proverbs 16:18, 1 Peter 5:5). Worldly Message: If someone wrongs you, it’s okay to seek revenge. God’s Truth: We are called to repay evil with blessing, inheriting a blessing ourselves in the process (1 Peter 3:9). Worldly Message: You can own things without consequence. God’s Truth: Possessions often end up owning you. True freedom is found in knowing Christ (John 8:32).The Clash of WorldviewsThe divide between secular and Christian worldviews is vast, especially when it comes to money. One of the most significant clashes is over the love of money. The world might say it’s acceptable, even for Christians, to love money. But Jesus makes it clear that it’s impossible to serve both God and money simultaneously (Matthew 6:24).As Christians, we’re meant to stand out because we serve a different Lord. James 4:4 reminds us that “friendship with the world is enmity with God.” But does this mean we should isolate ourselves from the world? Not at all.Jesus showed us a different way to live—serving others, loving deeply, and challenging cultural norms about relationships and possessions. He was a revolutionary, not just in His time but for all time. As His followers, we’re called to do the same: replace greed with generosity, exchange disrespect for love, and be counter-cultural in how we give our time, care, and resources.Your Financial Choices MatterYour financial decisions are more than just personal—they’re a reflection of your heart and an example to others. When you handle money with honesty, faithfulness, and generosity, people notice, and the blessings that follow are evident.The apostle Peter calls us “sojourners and exiles” (1 Peter 2:11) because this world is not our ultimate home. Yet, while we’re here, we have a mission: to love and serve others in a way that stands out, giving glory to God. In our financial choices and in all aspects of our lives, let’s choose to live differently, as Christ did.On Today’s Program, Rob Answers Listener Questions:I'm curious if there's a specific time frame when you should consider paying a financial advisor to manage your IRAs or if you should just let someone who isn't paying much attention to them look at them.I have about $400,000 in CDs and money market accounts. Is there something better than CDs in which I should put my money? I know CDs are pretty safe, but I'm wondering if there are better options.I'm 58, and I earn $98,000 a year. I'm currently renting, but it's costly. I want to buy a home but wonder if I'm too old. What do you think? I want to make a biblically sound decision.My wife and I have roughly 300,000 sets up, and we are thinking about buying the property at the beach to enjoy life with what we saved up with our grandkids. I wonder if that's a good idea or investment because I know I can sell it anytime.We have a revocable trust, e

The world is becoming more complex every day. Technology solves problems and creates new ones. How do you keep up?Among so many other things today, maybe you’ve noticed that managing your finances is increasingly complicated and involves more than balancing a checkbook. Sharon Epps joins us today with some much-needed advice—the 5 Ds of a Financial Reset.Sharon Epps is the president of Kingdom Advisors, FaithFi’s parent organization. Kingdom Advisors serves the broad Christian financial industry by educating and equipping professionals to integrate biblical wisdom and financial expertise.1. Define Your Financial VisionThe first step in a financial reset is to Define your standard of living. This goes beyond just wanting financial health; it’s about understanding your deeper motivations. What is your “why”? The Bible reminds us in John 10:10 that Jesus came so that we might have life and have it abundantly. This abundant life isn’t about wealth but about living a life full of peace and purpose. Define what that means for you and let it guide your financial decisions.2. Declutter Your Life and FinancesNext, it’s time to Declutter—and not just your finances but your physical space as well. Spend a weekend going through your home, room by room, asking yourself if each item is still useful. If you haven’t used something in the last year, consider selling it or giving it away. Decluttering your home can go a long way toward decluttering your life, making space for what truly matters.3. Delay Impulse PurchasesThe third step is to Delay your impulse purchases. Create a list of things you want to buy and note the date next to each item. Commit to waiting 30 days before making any purchase. More often than not, you’ll find that you didn’t really need or want the item after all. This simple habit can help you make more intentional spending decisions.4. Detect Spending HabitsThe fourth “D” is Detect. For 30 days, track all your spending and review your expenses. With today’s technology, this process is easier than ever since most of us rarely use cash. You can quickly review your bank and credit card statements online. As you do this, ask yourself what you would change. The FaithFi app is a great tool for this. It allows you to combine all your accounts in one place and helps you and your spouse stay on the same page regarding your finances.5. Decide on Your Spending and Giving PlansFinally, it’s time to Decide on your financial future. Overhaul your budget, check your priorities, and decide where your money will go. Make “giving” an essential part of your budget. Consider where you can cut expenses to be more generous, whether to your church or a ministry you’re passionate about. This step is about re-establishing your priorities and returning to the basics—financially and spiritually.The “5 Ds of a Financial Reset” offers a practical and spiritual approach to managing your finances in today’s complex world. By defining your financial vision, decluttering your life, delaying impulse purchases, detecting spending habits, and deciding on your budget, you can regain control of your finances and realign them with your spiritual values. Remember, tools like the FaithFi app can make this process even easier, helping you stay organized and focused on what truly matters.On Today’s Program, Rob Answers Listener Questions:I plan to retire in a couple of years and work with two different financial advisors. One advisor suggested that I defer my Social Security until age 67 to get a higher monthly benefit. The other advisor says I should start taking Social Security right away so I don't have to withdraw as much from my 401(k), which has over $1 million. I'm trying to decide which approach is better for my situation. What are your thoughts on whether I should delay Social Security or start taking it earlier?I recently got a letter from the IRS stating that I have a retirement fund in another state that I completely forgot about. I've lived in several states and tried to reach out to the previous employer, but they keep giving me different numbers to call, and no one is able to help me locate this account. Should I be concerned about this? Will the IRS handle it for me since they received the 1099 form?My wife and I are both retired - I'm 65, and she's 66. We bought a condo for $280,000 about four months ago and financed $80,000. We plan to stay there forever, and our kids are not interested in the condo when we're done with it. I wonder if getting a reverse mortgage on that $80,000 would be a smart idea for us. We don't have a tremendous amount saved for retirement, but we should be able to get by on our Social Security. Would a reverse mortgage make sense in our situation?I recently inherited some money from my mother, who passed away last fall. I'm looking for the best place to invest that money to get the best CD rates. What would be the best way for me to find the highest CD rates to invest this money?Resources Mentioned:Unde

From hats in the hall closet…to bats in the belfry, we can help you save money on the basics.Today, we’ll offer you a few common-sense strategies for saving money on three basic necessities: clothing, utilities, and home maintenance.Saving on ClothingWhen it comes to clothing, it’s easy to get tempted by sales or the latest trends. This is especially true if you have kids, especially teenagers, with rapidly changing sizes and opinions on what’s “cool.” But keeping your family’s wardrobe sharp doesn’t have to break the bank.Shop Thrift Stores: You don’t have to buy new. Thrift stores offer deals on current styles and wardrobe basics. This is a great way to save, especially if you have kids. Teenagers might resist, but give them a budget and challenge them to find something they like. It’s a fun way for them to learn the value of money and creativity.Consignment Stores: Consider shopping at consignment stores, where you can find stylish clothing at a fraction of the cost. Plus, when you’re done with your gently used items, you can trade them in for cash or discounts, adding money back into your clothing budget.Re-think Your Wardrobe: Instead of filling your closet with items you’ll only wear once or twice, focus on versatile, high-quality basics. A good pair of slacks or a neutral skirt can serve multiple purposes, from work to church or an evening out. Spend on these core items and use accessories and thrift store finds to add variety.Cutting Down on Utility BillsUtilities are another area where costs can quickly add up, but there are several ways to save.Energy-Efficient Appliances: Invest in energy-efficient appliances when it’s time to replace your old ones. While it may cost more upfront, these appliances will save you money in the long run. You can also find deals on “scratch and dent” models, which are new but have minor cosmetic flaws.LED Lighting: Switch to LED bulbs; although they’re more expensive initially, they last longer and use less energy, reducing your electricity bills over time.Utility Rebates: Check with your utility company for rebates on energy-efficient systems like electric hybrid water heaters or smart thermostats. These rebates can help offset the initial costs of upgrading your home’s energy systems.Simple Habits: To further reduce your energy consumption, unplug appliances, turn off electronics, and adjust your thermostat when you’re not at home.Smart Home MaintenanceRegular maintenance is crucial to avoid costly repairs if you own a home. Here are some tips to keep your home in good shape:HVAC Maintenance: Have your heating and air conditioning system checked annually to ensure it’s running efficiently, especially before the peak seasons of summer and winter.Seal Air Leaks: Check the caulking around windows, doors, and light fixtures annually. Replace weather stripping if necessary, and consider adding insulation if your home feels too warm in summer or too cold in winter. Again, utility companies often offer rebates for insulation upgrades.Roof and Attic Checks: Remember your attic. If unused, ensure it’s not becoming a home for critters. Rodents and other animals can cause significant damage, including chewing on electrical wires, which is a fire hazard.By taking simple, proactive steps in clothing, utilities, and home maintenance, you can manage your money more effectively and keep your expenses under control. These practical tips are designed to help you save more while still maintaining a comfortable and stylish lifestyle.On Today’s Program, Rob Answers Listener Questions:I'm in my 70s, and my spouse and I have been married for over two years. I've saved a significant amount of money initially kept in a lockbox. After selling my condo, I put that money into a couple of CDs, as they offered the best rates. These CDs will earn me over $4,000 a year in interest. I also have a few thousand dollars more that I need help with. I'm concerned that depositing this large cash amount in the bank might raise money laundering suspicions with the government.My dad passed away over a year ago, and my mom is trying to get Social Security benefits. However, neither of them has the required 40 credits. Can they combine their credits to qualify?My question concerns an income property that I have. Is it better to keep it during my retirement or sell it? My main concern is the capital gains tax I'll incur when I sell it since I've owned it for over 20 years, and it's depreciated.Do you consider classic cars a viable option for possibly a small part of a retirement portfolio?Resources Mentioned:Wise Women Managing Money: Expert Advice on Debt, Wealth, Budgeting, and More by Miriam Neff and Valerie Neff Hogan, JD. \Bankrate.comRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also availab

Psychologist and educator Fitzhugh Dodson wrote, “Without goals and plans to reach them, you are like a ship that has set sail with no destination.”Of course, goals don’t amount to much unless you have a plan to reach them. That planning should involve more than building your net worth. Ron Anderson joins us today to discuss life planning— what is it, how to do it, and why you should.Ron Anderson is the Founder & President of Plan A Wealth Management in Lincoln, Nebraska.What Is Life Planning?Life planning goes beyond setting financial goals; it’s about discovering and fulfilling your purpose. It involves asking yourself why you want to be financially successful and what you will do to accomplish your bigger goals in life. It’s about making a difference and living out the reason God put you on this planet.The core of life planning is about introspection and alignment with God’s purpose for your life. We were all created on purpose for a purpose, and life planning helps us ask the tough questions to design a life that truly matters. It ensures that your goals are in line with God’s plan for you, helping you avoid the pitfall of pursuing the world's definition of success while missing out on the unique contribution you are meant to make.The Role of a Financial Planner in Life PlanningA financial planner can be instrumental in helping you navigate your life planning journey. They can assist in determining how much you need to live the life God is calling you to. This includes helping you set a reasonable lifestyle, preparing for God’s nudges, and ensuring that you are ready to say "yes" when He calls. A planner can also help you clarify your goals, understand how major life events fit into your vision, and identify opportunities to make the most meaningful impact.Scripture provides a strong foundation for life planning. Ephesians 5:15-17 urges us to live wisely, making the most of every opportunity and understanding the will of the Lord:“Be very careful, then, how you live—not as unwise but as wise, making the most of every opportunity, because the days are evil. Therefore do not be foolish, but understand what the Lord’s will is.”Ephesians 2:10 also reminds us that we are God’s masterpiece, created to do the good things He planned for us long ago. This is why it’s so vital to live purposefully and intentionally, aligning our lives with God’s plans.If you're interested in exploring life planning further, you can visit PlanAWM.com, where you can schedule an appointment and speak with a member of their team.On Today’s Program, Rob Answers Listener Questions:I've been contemplating leaving my assets from a soon-to-be-settled divorce to my children, who are in their 20s, and I'm just not sure I'm going to do that. All that said, I am very ill and have been around the world eight times trying to get well. The main question is, with Social Security Disability, how do income and assets affect Social Security Disability?I've had a life insurance policy for about 20 years, which will expire when I turn 76 unless I choose to pay a significantly higher premium at age 82. This means I have around five years left on it. I wanted to "cash it in," but when I contacted the company, they informed me that this is not possible with my term life policy. I came across a company called Coventry on TV, which seems to buy life insurance policies and provide cash in return. Can you explain how this works?I'm in my early to mid-70s and have a small to medium investment account. I have it securely invested in a G-Fund within my TSP. I'm curious about the market's future, especially since it's at an all-time high and has performed well this year. Given that it's an election year, and I haven't researched historical trends during such times, do you think the market will continue to rise? I'm considering converting a significant portion of my G-Fund to the C-Fund, which tracks the S&P 500. What is your outlook on the S&P 500 for the rest of the year?A few months ago, my mom passed away, and I was initially told I needed to go to probate court. At the courthouse, I was given a list of documents to bring, including the title to my mom's house and property. After reviewing these documents for a few minutes, the probate office informed me that I have a life estate, so probate isn't necessary, which contradicts their earlier statement. They mentioned it needed rights of survivorship, which it didn't have. I'm now confused about whether I need to go to probate or not.A few months ago, I heard about Social Security benefits for those in their 60s. I visited the Social Security office last week and asked why the surviving spouse seems penalized after a spouse's death. I feel like I'm losing my benefits despite working for them, as I can only take survivor benefits if my husband passes before me. The representative couldn't explain the reasoning. How can I advocate for a change to this rule, as its purpose is unclear to me?Resources Mentioned:Plan

Most of today’s renters say they’d like to buy a home, but a clear majority think they’ll never be able to afford it.It’s certainly gotten more difficult to buy a house these days, with soaring home values and interest rates. But certainly not impossible—especially if you’re prepared.Renting Is Not Throwing Money AwayOne of the most common myths in the housing market is that renting is equivalent to throwing money down the drain. However, this perspective is misguided. Renting provides a home for you and your family, which is a valuable use of money. Moreover, renting buys you time—a precious resource. This time can be used to save up for a larger down payment, research neighborhoods, and make a well-informed decision when the time to buy finally comes.When considering whether to rent or buy, it’s important to compare the upfront costs associated with each option. Renting typically requires you to pay the first month’s rent and a security deposit, which can be a substantial amount of cash. On the other hand, buying a home requires a down payment and closing costs. If you don’t have 20% saved for a down payment, you’ll also need to factor in the cost of private mortgage insurance (PMI).Using a “rent versus buy” calculator can help you determine which option is more financially viable for your situation. In some cases, renting may be cheaper on a monthly basis, especially when you consider that it can take 5 to 7 years to recoup the closing costs of buying a home.Considering the Current Market ConditionsAnother critical factor to consider is the current state of the housing market. Home values and interest rates are high right now, but there are signals from the Federal Reserve that interest rate cuts could be on the horizon. Additionally, while home prices remain high, the rate of increase is slowing, with more sellers lowering their asking prices. Waiting could pay off if you’re not in a rush to buy.It’s essential to look at your monthly budget when deciding whether to rent or buy. Determine what your monthly mortgage payment would be for the type of home you want and compare it to the rents in your area. If your total housing payment exceeds 25% of your take-home pay, you might find it challenging to stay on budget, making renting a more practical choice for now.The Emotional Side: Satisfaction vs. FlexibilityBuying a home can bring a sense of satisfaction and the freedom to personalize your living space. However, homeownership also comes with the stress of maintenance and repairs. Renting, on the other hand, offers flexibility and less stress. You don’t have to worry about unexpected repair costs, and you may even have the satisfaction of saving money each month.For some, shared ownership could be a viable option. Multi-generational homeownership is on the rise, allowing families to afford more living space and amenities together than they could separately. This arrangement isn’t for everyone, but it’s worth considering, especially as more adult children are living at home.Seeking God’s GuidanceAs you navigate the decision of whether to rent or buy, remember the wisdom of Proverbs 2:6, “For the Lord gives wisdom; from his mouth come knowledge and understanding.” Pray for discernment, and trust that God will guide you to the right decision at the right time. As Psalm 37:7 advises:“Be still before the Lord and wait patiently for him.” By seeking God’s guidance, you can make a decision that aligns with His will for your life.On Today’s Program, Rob Answers Listener Questions:I'm in my 70s, and my wife is also getting older. I'm considering putting $10,000 monthly into a CD ladder, where I would open a new 1-year CD each month. This way, there would be a CD maturing every month that my wife could access for any emergencies. Does this sound like a good strategy for our situation?I receive two monthly checks - one from the United States Postal Service and one from my time as a civil servant. I thought I had already paid taxes on this money when earning it, but now I'm wondering why I need to file tax returns for 2022 and 2023 since I'm retired. I haven't filed those years yet, and I'm not sure why I need to. Can you help me understand this?I'm 63 years old, and I have some upcoming life events like my son going to college and building a house to retire in. When should I consider my 401(k) fully funded and stop contributing to it?I'm retiring from the Ohio Public Employee Retirement System next week. They have been contributing to a money market account for me since I returned for a second period of re-employment. This account has about $15,000 in it. I can take this money as a lump sum, or I can take it as a lifetime income stream, either for my life or my wife's. I'm not sure which option would be better for me. What should I consider when deciding how to take this retirement payout?I'm concerned about doing a home refinance versus getting a HELOC (Home Equity Line of Credit) loan. I currently have a mortgage

“Concerning that day and hour no one knows, not even the angels of heaven, nor the Son, but the Father only. For as were the days of Noah, so will be the coming of the Son of Man.” - Matthew 24:36-37Jesus made it quite clear that no one on earth knows the day or hour of His return. Yet, we’re to live as if He’s coming back tomorrow. Does that mean we don’t need to plan for the future? Matt Bell weighs in on the issue today.Matt Bell is the Managing Editor at Sound Mind Investing, an underwriter of Faith & Finance. The Call to Be PreparedWhile it’s crucial to live in anticipation of Christ’s return, this does not mean we should neglect our responsibilities here on earth, especially when it comes to managing our finances. We must strike a balance between being spiritually ready for the end times and being diligent stewards of the resources God has entrusted to us.One of the most common misconceptions among Christians is that preparing for the future contradicts living in anticipation of Christ’s return. However, this perspective misses the point of biblical stewardship.The Bible emphasizes the importance of planning and stewardship. Proverbs 21:5 tells us, "The plans of the diligent lead to profit as surely as haste leads to poverty," while Proverbs 22:3 warns:"A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences."The Parable of the Talents: A Lesson in ResponsibilityThe parable of the talents (Matthew 25:14-30) perfectly illustrates the concept of stewardship. The master entrusts his servants with his wealth, expecting them to manage it wisely. Two servants invest the money and generate a return, while the third, out of fear, hides it. When the master returns, he rewards the faithful servants and reprimands the one who did nothing.This parable teaches us that we are not merely to hold on to what God has given us; we are to use it productively, even as we wait for Christ’s return. Being a good steward means planning, being intentional, and taking proactive steps to manage the resources God has entrusted to us.Practical Steps for Faithful Financial StewardshipSo, what does faithful financial stewardship look like in practice? It’s crucial that we utilize tools like budgets to allocate income across key priorities such as generosity, saving, investing, and spending. Additionally, for those planning for retirement, it’s wise to build an investment plan that aligns with a specific retirement date and budget, even though adjustments may be necessary as circumstances change.Ultimately, financial planning is not about securing wealth for its own sake but about being found faithful with what God has given us. As Proverbs 16:3 reminds us: "Commit to the Lord whatever you do, and he will establish your plans."Living in Anticipation and Planning WiselyChristians are called to live in constant anticipation of Christ’s return while also faithfully managing the resources we have been given. We live like Jesus is returning today, but we plan to be here for a long time. This balanced approach ensures that we are prepared for whatever the future holds, both spiritually and financially.For more insights on this topic, you can explore the article “Watching, Waiting, Planning, Working” available at SoundMindInvesting.org.On Today’s Program, Rob Answers Listener Questions:I recently received an inheritance of over $200,000. My savings and 401(k) are in good shape, but I'm unsure how to invest this inheritance best. I want to ensure I'm being a good steward of this money. What advice would you give me on how to invest this inheritance wisely?Resources Mentioned:Watching, Waiting, Planning, Working by Austin Pryor (Sound Mind Investing Article)Sound Mind InvestingRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

“Let each of you look not only to his own interests, but also to the interests of others.” - Philippians 2:4We tend to think of that verse as a prescription for giving to help the poor and needy and that’s good. But is there an application that involves investing? Stella Tai joins us today to talk about how your investing can have a positive impact in the world.Stella Tai is Manager of Stewardship Investing Impact and Analysis for Praxis Mutual Funds®, an underwriter of Faith & Finance. Why Should People of Faith Focus on Impact Investing?Impact investing is an investment approach that goes beyond the traditional goal of making a profit. It’s a way to use investment dollars to promote social and environmental good in the world through carefully selected investment portfolios.Impact investing holds particular significance for people of faith because it aligns with the scriptural mandate to use our gifts, talents, and possessions for good. Faith provides a moral compass, guiding investors to avoid investments that harm society while promoting strategies that address pressing global issues, such as healthcare, education, and environmental stewardship. People of faith have a rich history of pioneering this type of investing, drawing inspiration from groups like the Quakers and Catholic orders that have been practicing values-aligned investing for decades.Integrating Faith-Based Impact into Investment PortfoliosFor individuals or institutions looking to incorporate faith-based impact into their investment portfolios, here is some practical advice to get started:Articulate Values: Clearly define the values that will guide your investments.Align Current Portfolios: Assess existing portfolios to ensure they align with these values.Utilize Available Tools: Explore funds and financial advisors experienced in impact investing.These steps help investors begin the journey of integrating impact into their investments, whether in traditional markets or philanthropy.If you’d like to learn more information about Praxis Mutual Funds, you can visit praxismutualfunds.com.On Today’s Program, Rob Answers Listener Questions:I have a rental property with a $50,000 mortgage at 5.5-5.6% interest. I have the ability to pay off the mortgage, but I'm unsure if I should let the renter continue paying it off while I invest the money elsewhere or if I should pay it off myself. What would be the better financial decision?I have a 5-acre property that includes my current home. I want to do a lot split to build a smaller retirement home on part of the land. What are the best financing options for building the new home while I continue living in my current home? Should I sell my current home first and rent it back, or try to stay in it during construction? And what tax or capital gains implications do I need to consider with the lot split and home sale?I made about four times what my wife made on average during our working careers. Our plan was for my wife to start taking her Social Security at age 62, and then when I started taking mine at age 67, she would switch over to spousal Social Security. However, we recently attended a seminar where the presenter said that even if my wife switches to my spousal benefit at 67, she will still suffer a 25% penalty. Is that true? I want to ensure I understand the implications before deciding when to start our Social Security benefits.I'm 63, and my wife is 60. We both still work. We have $200,000 in savings, earning only 1.5%, and my wife has $200,000 in her 401(k). I declined a 401(k) at my job since they didn't match. Should I invest the $200,000 in savings instead of leaving it in the low-yield account? I plan to keep working as long as I'm able.Resources Mentioned:Praxis Mutual FundsBankrate.comRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

“For we are his workmanship, created in Christ Jesus for good works, which God prepared beforehand, that we should walk in them.” - Ephesians 2:10Our good works are not for our sake but for God’s sake, to give Him glory. Investing gives us a powerful way to do that. Today, we’ll talk with Dr. Finny Kuruvilla about investing to change the world.Dr. Finny Kuruvilla is the Co-Chief Investment Officer and Founding Member of Eventide Asset Management, an underwriter of Faith & Finance. He holds an MD from Harvard Medical School, a PhD in Chemistry and Chemical Biology from Harvard University, a master’s degree in Electrical Engineering and Computer Science from MIT, and a bachelor’s degree from Caltech in Chemistry.The Purpose of InvestingInvesting has always been about supplying capital to businesses. This concept originated in the 1400s and 1500s with the rise of corporations, particularly those financing maritime trade. Investing primarily aims to fund companies to help them do good work. However, this purpose can be perverted to support businesses that go against God's design for humanity. Hence, it's crucial to remember that investing should always aim to fund ethical companies.Investing as OwnershipWhen you invest, you become a part-owner of a company, which carries an ethical responsibility. Like owning a small business, you are accountable for the actions of the companies you invest in. This ownership confers a duty to ensure these businesses align with your values and promote good.Integrity in InvestingRomans 12:9 states, "Let love be without hypocrisy. Abhor what is evil; cling to what is good." This principle applies to investing as well. To maintain integrity, you should avoid profiting from industries that contradict your values, such as pornography or tobacco. Instead, invest in businesses that advance the common good, like those making significant strides in healthcare and biotechnology.For example, advances in treatments for leukemia have dramatically increased children's survival rates, thanks to innovative companies in the healthcare sector. These companies exemplify how investment capital can drive significant positive outcomes.Performance and OutperformanceInvesting in businesses that promote the common good can lead to long-term outperformance. Studies, like those referenced in Fred Reichheld's "Winning on Purpose" and Alex Edmans' "Grow the Pie," show that companies adding value to their stakeholders often outperform their peers. This approach aligns with the biblical principle of loving your neighbor and can result in superior long-term returns.Eventide's ApproachEventide uses a framework called Business 360 to evaluate how companies interact with various stakeholders, including customers, employees, and the community. By focusing on companies excelling in value creation, Eventide aims to identify businesses aligned with promoting the global common good and likely to outperform over the long term.The future is bright for Faith-Based Investing because of the growing awareness in faith-based and secular circles that investing inherently involves ethical considerations. This awareness will lead to more opportunities to use investment dollars constructively, promoting values that align with a vision for a better world.Investing with integrity means aligning your investments with your values and ethical responsibilities. As Christians, this involves avoiding industries that contradict biblical principles and supporting those that advance the common good. Doing so can achieve both financial returns and a positive global impact. To learn more about this approach to investing, visit Eventide Funds.On Today’s Program, Rob Answers Listener Questions:I heard somewhere that you can take 4% a year out of your 401(k)s, and they should last you, but I'm looking for information like that. How much? When do we start taking money from these 401(k)s?I could not file my income taxes on time this year, but I did again and got an extension. Are there any penalties that I need to be aware of? I also have become very lazy regarding budgeting, keeping my finances, and keeping on track with them. How do I start over? Where do I begin?Resources Mentioned:Eventide Asset ManagementWinning on Purpose: The Unbeatable Strategy of Loving Customers by Fred ReichheldGrow the Pie: How Great Companies Deliver Both Purpose and Profit by Alex EdmansRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and us

When you want pithy quotes, check out social media. When you want words of truth, look to the Bible. But be careful not to get those two mixed up.Some familiar sayings may sound like Bible verses, but they’re really not. Today, we’ll find out why so many old saws really don’t cut wood."God Won’t Give You More Than You Can Handle"Of all the Bible verses that aren’t actually in the Bible, here’s the most familiar one: “God won’t give you more than you can handle.” This sounds great, especially if you’re struggling with financial hardship. Unfortunately, it’s not true. The fact is, life is always more than we can handle without God. After all, we need his help just to take our next breath!The idea that “God won’t give you more than you can handle” is a misreading of 1 Corinthians 10:13, which actually says: “God is faithful, and he will not let you be tempted beyond your ability, but with the temptation he will also provide the way of escape, that you may be able to endure it.”The good news is that God’s faithfulness provides us a way to endure temptation…not necessarily avoid it."God Helps Those Who Help Themselves"Here’s another popular quote. Maybe you heard your grandma say this when you refused to do your chores: "God helps those who help themselves.” Again, it might seem like something from the Bible, but it’s not. It’s the opposite of what God’s word says, which is that our help comes from one place. Psalm 121:2 says: "My help comes from the LORD, the Maker of heaven and earth.” It’s not “God plus me getting the job done.”God’s help is never contingent on what you or I do. There’s nothing we can do even to earn God’s help. But, again, the good news from the Bible is that “…God shows his love for us in that while we were still sinners, Christ died for us.” God’s help is always available, not because we do our chores, but because He loves us despite our brokenness."If God Closes a Door, He’ll Open a Window"Have you ever been disappointed, and someone told you, “If God closes a door, He’ll open a window”? Besides letting the bugs in, one way or another, what is that really saying? Does God always resolve your problems immediately? That’s not always the case, is it? Sometimes, God closes a door, and we have to wait with the doors and the windows firmly shut. The Bible does promise that God will keep us headed in the right direction, when we follow him with all our heart. Psalm 32:8 says: “I will instruct you and teach you in the way you should go; I will counsel you and watch over you.”But the “way you should go” doesn’t necessarily mean God will make an escape hatch when you don’t seem to be making progress. You’ll find that God often does some of His best work as you wait, teaching you to trust Him even more. Psalm 37:7 says: “Be still before the LORD and wait patiently for him; do not fret when men succeed in their ways, when they carry out their wicked schemes.”"To Thine Own Self Be True"Our next quote is, “To thine own self be true.” That might sound like scripture, but it’s really from Shakespeare’s play, Hamlet… and as a piece of advice, it’s downright unbiblical. “To thine own self be true” suggests that all you need for success is to follow your own instincts and desires. Unfortunately, it’s our own instincts and desires that cause us to sin. Self-reliance is no substitute for reliance on Jesus. He is the source of truth and the only one we can truly rely on."Follow Your Heart"That brings me to the next common saying, another piece of unbiblical advice: “Follow your heart.” First of all, here’s what Jeremiah 17:9 says about our hearts: “The heart is deceitful above all things, and desperately sick; who can understand it?”In light of that truth, following your heart seems like a really bad idea.Biblestudytools.com puts it this way: “God gives us passions and desires and uses our lives to prepare us for His purposes—just as He prepared David during his time as a shepherd, soldier, and court musician. But that only works if we completely surrender our lives to His leading.”"Let Go and Let God"The next “not-in-the-Bible” quote is, “Let go and let God.” The problem with this saying is that it might encourage a passive approach to problem-solving. While faith and trust in God are crucial, the Bible also teaches the importance of taking action and using the resources and wisdom God provides to address issues. As J. I. Packer once put it: “The Christian’s motto should not be ‘Let go and let God’ but ‘Trust God and get going.’”The bottom line is if you’re a follower of Jesus, you can always trust his provision and rest in his peace, even in the middle of challenging circumstances. Don’t be misled by popular sayings that sound biblical but aren't. Instead, dive into the actual Word of God, where you’ll find the true wisdom and guidance you need for every aspect of life.On Today’s Program, Rob Answers Listener Questions:My financial advisor has me in something called "Guided Solutions," and I don't know anyth

“Delight yourself in the Lord, and he will give you the desires of your heart.” That familiar verse from Psalm 37 begs the question: “What are the desires of my heart?”We may be so interested in getting what we desire that we forget the other side of the equation—delighting in the Lord. Today, we’ll talk about desires—and how they can either direct us or distract us.The Nature of DesireThink about a time in your life when you didn’t want anything. You can’t do it, can you? Desire is an inherent part of being human—whether you’re looking for love, money, success, attention, peace, or just something quick to eat. Desire can be a positive or negative force in your life.A desire to pay off debts or save for a car can motivate a person to work harder and spend less. A desire for attention can lead to buying flashy clothes or a fancy car one can’t afford. A desire for power might convince someone they need to put themselves first. The desire to protect and nurture children is part of what makes families work.God’s Design and Human ChoiceGod knows this about us. He made us that way. Genesis 1 tells us Adam and Eve were created in God’s image, perfectly designed for a relationship with each other and the Lord. In His wisdom and love for His creation, God set boundaries and allowed humankind to choose whether to obey Him or not. Adam and Eve desired independence, and as a result, their rebellion severed that perfect relationship with God.So, what are the desires of your heart? There are many things you can want, most of which probably seem good to you. But if you’re a Christian, you must ask if what you desire draws you away from your Creator, who has called you to: “Set your minds on things that are above, not on things that are on earth.” - Colossians 3:2Desires: Distraction vs. DirectionDesire can either distract us or direct us in our walk with the Lord. Sometimes, your desires can distract you from following Jesus, with dire consequences. James 1:14 explains: “But each person is tempted when he is lured and enticed by his own desire. Then desire when it has conceived gives birth to sin, and sin when it is fully grown brings forth death.”Paul warns Christians about immoral behavior in 1 Corinthians 6:19-20, reminding us that our bodies are temples of the Holy Spirit and should glorify God.On the other hand, desires that align with God’s will can direct you away from sin and into a deeper walk with Jesus. As Jesus told his followers in Matthew 5:6: “Blessed are those who hunger and thirst for righteousness, for they shall be satisfied.”David wrote about the desires that please God in Psalm 40:8—“I delight to do your will, O my God; your law is within my heart.”The Transformation of DesiresWhen Jesus is your Savior and Lord, He gives you a new heart and identity as a child of God. Your old nature and old desires don’t define you anymore. You can choose to let those old desires back into your life, but they will distract you. It takes prayer and discipline, but when you choose to delight in the Lord’s ways each day, He will refocus your desires on Him and His purposes.Psalm 37 is full of instructions for living in a way that pleases the Lord:Trust the Lord.Do good to others all the time.Make faithfulness a way of life.Offer your plans to Him every day.Wait patiently for God’s guidance.Don’t let anger control you.Don’t be anxious about what evil people do.Ephesians 5:1 sums this up by reminding us that Christians who desire God more than anything else look just like Jesus: “Be imitators of God, as beloved children, and walk in love, as Christ loved us and gave himself up for us, a fragrant offering and sacrifice to God.”When your desires align with God’s, you will find perfect peace.On Today’s Program, Rob Answers Listener Questions:As sole proprietors, do we tithe off the gross, the profit, or the net?Are there any biblical reasons or red flags I should know when considering a business partnership?I have $58,000 in a 403(b), and one option is to take an annuity that would pay me $400 per month starting now or $586 per month starting when I turn 70. Is an annuity a good investment?Resources Mentioned:Rich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The dictionary says integrity is “being honest and having strong moral principles.” God’s Word says, “Better is the poor who walks in his integrity…Than one perverse in his ways, though he be rich.”Are you living with integrity in your financial dealings?Understanding IntegrityIntegrity isn't just about honesty; it also means strength and dependability. When we say a bridge has integrity, we mean it’s sturdy and consistently reliable, able to withstand any amount of traffic without collapsing. As Christians, we are called to be like that bridge—representing Jesus Christ to the world by being honest, strong, and dependable in all we do. Although we won't always get everything right, with God’s help, we can persevere. James 1:12 says: "Blessed is the one who perseveres under trial because, having stood the test, that person will receive the crown of life that the Lord has promised to those who love him."Today, we’re focusing on financial integrity. Your attitudes and actions around money reveal a lot about your heart. The key question is: are you being honest, morally strong, and dependable in your personal money matters?Honesty: The Cornerstone of IntegrityHonesty is crucial to integrity. It’s one of the first things Jesus requires of new believers. When tax collectors asked Jesus what they should do, He replied, “Collect no more than what you have been ordered to” (Luke 3:13). Honesty is essential for effective kingdom work. Titus 1:7 says, “The overseer must be above reproach as God’s steward.” Communities thrive when people are honest, as Proverbs 28:12-13 illustrates: “When the righteous triumph, there is great glory, but when the wicked rise, men hide themselves. He who conceals his transgressions will not prosper…”In practical terms, honesty means doing what is right whether people are watching or not. It involves telling the truth on time sheets, tax forms, tests, applications, and even in social media posts. Honesty also requires fair treatment of employees, clients, co-workers, and customers. All financial dealings should be transparent and upright.Moral strength is not something we can generate on our own. The power to live a Christian life comes from God. He fills us with His Holy Spirit and leads us “in paths of righteousness for His name’s sake” (Psalm 23). The more time you spend studying the Bible, the better you’ll understand God’s ways. Applying biblical principles to your life and finances strengthens your moral principles. As a person of integrity who belongs to Christ, you can be confident that “God will supply all your needs according to His riches in glory” (Philippians 4:19).Dependability: Building a Good ReputationDependability is closely tied to having a good reputation. Proverbs 22:29 confirms this:“Do you see a man skillful in his work? He will stand before kings; he will not stand before obscure men.”Our goal as Christians is to point people to Christ, and a solid reputation gives us a platform to do just that.Ask yourself: can your family, friends, and co-workers depend on you to do what’s right? Are your words and actions consistently godly? Regarding personal finances, are you sticking to a clear, manageable plan?The Challenge of IntegrityBeing honest, morally strong, and dependable is challenging, and nobody does it perfectly all the time. Selfishness and ungodly desires often interfere with our integrity. When that happens, we must repent, pray for God’s forgiveness, and ask for His help. We can then make things right with anyone we’ve wronged and move forward.Remember, the only power Satan has is to accuse and confuse. He can’t snatch you from the hands of our Heavenly Father. Romans 8:1 reassures us, “…there is now no condemnation for those who are in Christ Jesus.”So, you can afford to pursue integrity in your personal and financial life, even if you fail occasionally.Pursuing financial integrity means committing to honesty, moral strength, and dependability, knowing that with God’s help, we can reflect Christ’s character to the world.On Today’s Program, Rob Answers Listener Questions:I was trying to pay off my high-interest credit card debt, but it was just digging me deeper into a hole. As I was praying about it, I heard about Christian Credit Counselors on the radio. I was concerned about whether they were legitimate and if I could trust them.I'm still working, and I'm 65 and I'm going to keep working, probably until I get my full Social Security at 67. My question is, if I draw the full amount, and my wife decides to draw off of my Social Security, and you said it was up to half, do I still get the full amount? Or will her drawing the half cut into my full amount?My husband left me in April, but he wants to stay married until next October to keep the insurance. He left me with $100,000, and we had bought a very cheap home when he retired from his job because he was afraid that the pension was going to go broke. He had also asked me to sign off on the pension so he coul

Getting a college degree can substantially increase your lifetime earnings, but even better is getting someone else to pay for it.I’m talking about scholarships, of course. Every year, public and private institutions dole out about $8 billion in scholarships. Are you getting any of it? I’ll talk about how you can.The Rising Cost of CollegeNo question about it: college is expensive. The College Board reports that in 2024, in-state students at public four-year schools are spending an average of $11,260 on tuition and fees for just one year, excluding room and board. Students at private, four-year colleges are spending over $41,500 on tuition and fees alone. With these expenses, it’s not surprising that the average student owes close to $30,000 when leaving school. But you don’t have to be the average student.Scholarships: Your Key to AffordabilityMany organizations are willing to help you pay for college through scholarships…if you meet their qualifications. Our own Rob West’s wife Julie had her own “application assembly line” going, and she was able to land $170,000 in scholarship money. Of course, that took a lot of work…but look at it this way: you can either put in the time and effort now applying for scholarships, or you can borrow and work very hard later to pay back the money. We hope that you’d rather do the work now, so let’s dive into some great resources for scholarship money.Top Scholarship ResourcesFastweb: They host more than 1.5 million scholarships totaling nearly $3.5 billion. To get started, create a profile at FastWeb.com. A search feature helps match you to scholarships that meet your individual needs and keeps track of where you’ve applied.College Board: Known for testing materials like the SATs, the College Board also helps you pay for college. On their site, you can apply for scholarships and internships. They have leads to about 2,200 programs offering nearly $6 billion in college aid every year.Niche.com: This site helps you find not only money but also colleges that cater to your specific major and interests.Scholarships.com: They have a massive database with over 3.5 million scholarship and grant opportunities totaling almost $20 billion. Browse by category or set up a profile to find scholarships specific to your interests.Appily (formerly Cappex): They offer leads on $11 billion in scholarship opportunities and have a tool to help you calculate the odds of getting into a school of your choice before you apply.Chegg: Best known as an online textbook store, Chegg also has great articles about finding and applying for scholarships and grants. Knowing the difference between scholarships and grants could help you land one.Specialized ScholarshipsMany of these scholarship opportunities are merit-based, meaning the higher your grades, the better your chances of landing one. But if you’re more athletically inclined, Unigo lets you search for athletic scholarships and a wide variety of funding opportunities offered by specific schools and companies.Peterson’s: Known as a clearinghouse for information about colleges and universities, they also host about $10 billion in scholarship opportunities.CareerOneStop: Sponsored by the Labor Department, this site allows you to search more than 8,000 scholarships, fellowships, and grants—money you won’t have to pay back.Final TipsOne final idea: check with the financial aid office at the schools you apply to. Sometimes, they have scholarship money available too. We’ve covered a lot of scholarship sites, and you probably won’t use all of them, but try at least a couple. Look for ones that are easy to work with or best match your needs. Many of them will have other features you might find handy.Good luck in your scholarship search!On Today’s Program, Rob Answers Listener Questions:We’d like to start something where we can put some money into an online bank to earn some interest. What would you suggest? My online savings account was compromised, and unauthorized wire transfers were made from it. I'm concerned about how to protect myself, as I didn't receive alerts about the transfers. Do you have any recommendations for securing online accounts and preventing fraud?I'm trying to help my mom, who is 81 years old, invest her money correctly. After selling some rental properties, she has about $500,000 in cash and another $500,000 in IRAs and other accounts. What questions should I ask when interviewing potential financial advisors to manage her money in a way that aligns with her values and needs as an 81-year-old widow?Resources Mentioned:1Password | LastPassBankrate.com | DepositAccounts.comRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect

If you’re drowning in debt and someone offers a lifeline, make sure it’s not really an anchor.You have a few different options for paying off debt, but they are definitely not all equal. You have debt settlement, debt consolidation, and debt management. Neile Simon joins us today to explain the difference.Neile Simon is a Certified Credit Counselor with Christian Credit Counselors (CCC), an underwriter of Faith & Finance.Debt Consolidation: A Quick Fix with Hidden DangersDebt consolidation is often seen as an attractive option because it combines multiple debts into one loan with an interest rate between 15% and 22%, depending on your credit score. This can make managing payments easier and allows you to keep your accounts open. However, Nearly warns that this method doesn't address spending habits, which can lead to accumulating more debt. Proverbs 13:11 reminds us: "Wealth gained hastily will dwindle, but whoever gathers little by little will increase it."Debt Settlement: Misleading and RiskyDebt settlement companies often use unethical practices, which can be very misleading. They require you to stop paying your creditors, which damages your credit and can lead to severe consequences like legal action, liens on your property, and wage garnishment. Additionally, any amount written off is considered taxable income. Nearly emphasizes that Christians are called to repay our debts and take responsibility for our actions. Psalm 37:21 reminds us that:"The wicked borrows but does not pay back."Debt Management: A Biblical and Effective SolutionDebt management, offered by Christian Credit Counselors, is our preferred method for getting out of debt. This program allows you to honor your debt in full while reducing payments and interest rates. Payments are consolidated into one monthly payment made through the counseling service. Though the accounts enrolled in the program are closed by creditors, you are not required to enroll all accounts. Interest rates on this program range from 1% to 12% APR, enabling you to pay off debt 80% faster. Proverbs 3:27 states:"Do not withhold good from those to whom it is due, when it is in your power to do it."Christian Credit Counselors not only provide a practical solution but also offer a biblical approach, including prayer and encouragement throughout the process. For those seeking a trustworthy partner in their debt repayment journey, you can visit: ChristianCreditCounselors.org.On Today’s Program, Rob Answers Listener Questions:I'm hearing that people are getting scammed out of the money in their bank accounts. Is online banking safe?I have about $5,000 left over after paying for my husband's funeral and buying a headstone. I've kept it in a money market checking account, but it isn't making much. Should I move it somewhere else to get it to grow more, like a high-yield savings account? I want this money to be a rainy day/emergency fund, but I also want it to earn a decent interest rate. I have six kids at home, one in college, and I work a minimum job to keep my benefits. I'm unsure if I'll stay home or continue working, so I want this money to be accessible and growing.Resources Mentioned:Christian Credit CounselorsWise Women Managing Money: Expert Advice on Debt, Wealth, Budgeting, and More by Mirian Neff and Valerie Neff Hogan, JD. Bankrate.comRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The poet Ogden Nash once wrote, “Some debts are fun when you are acquiring them, but none are fun when you set about retiring them.”One thing’s for sure: getting into debt is much easier than getting out of debt, so the more you know about debt and credit, the better off you’ll be. Author Dr. Shane Enete joins us again today to discuss his take on that double-edged sword.Dr. Shane Enete is an Associate Professor of Finance at Biola University and the author of the brand new book, “Whole Heart Finances: A Jesus-Centered Guide to Managing Your Money with Joy.”Debt In God’s WordDebt is often used in the Bible as a metaphor for bondage, emphasizing its severity. Both Jesus and Paul liken redemption to being freed from debt, highlighting the spiritual implications of financial burdens. Debt restricts our ability to fully express our identity in Christ and live freely according to God's will.The biblical concept of Jubilee, where debts are forgiven, highlights God's desire for us to be free and return to our original inheritance, reflecting His provision and grace.While usury, or lending that exploits and enslaves others, is condemned in the Bible, being in debt is more about wisdom than morality. Understanding the distinction between debt on appreciating assets (like education or a home) and depreciating assets (like a car or consumer goods) is crucial for making wise financial decisions.Credit: Not Always Synonymous With DebtCredit is often misunderstood as synonymous with debt. However, building good credit without borrowing is possible and beneficial. Credit is simply a measure of your trustworthiness to repay loans, and a good credit score can provide access to lower interest rates and better financial opportunities.Credit cards are a double-edged sword. While they offer convenience, they also delay the consequences of spending, making it easier to overspend. This delay can trigger a dopamine response, making shopping more enjoyable but also more dangerous financially. It's essential to be aware of this psychological trap and manage credit card use wisely.To avoid the pitfalls of credit cards, we recommend tracking spending daily and using digital envelopes for budgeting. These methods help make the consequences of spending immediate, encouraging more mindful financial decisions. Maintaining visibility over our finances prevents overspending and promotes wise money management. The FaithFi app is a great tool if you’re looking for a customizable money management tool to help you make good financial decisions every day. With the app, you can securely connect to bank accounts, track spending, and make the most of every dollar.Living debt-free and managing money in a way that honors God allows us to excel in the grace of giving. This enriches our spiritual lives by continually experiencing the gospel through generosity. By applying biblical principles to our financial lives, we can experience greater joy and freedom.On Today’s Program, Rob Answers Listener Questions:How can I find investments that align with my faith beliefs?My adult son is disabled and collects SSI and SSA. I retired early, but I am also a teacher seeking licensure. I'm not working right now until school starts again. The bank says they cannot use my son's income unless I'm a beneficiary. How can I become a beneficiary to show his income? And how would that impact me later on with the home if the government tried to take the house since he was receiving Social Security?Resources Mentioned:Whole Heart Finances: A Jesus-Centered Guide to Managing Your Money with Joy by Dr. Shane EneteFaith-Based Investment Funds ListRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A boomerang is supposed to return when it leaves your hand. But a boomerang kid, well, that’s something else entirely.Do you have a boomerang kid? That’s a term for an adult child that’s returned home, like a boomerang, and now lives with you again. If so, you’re not alone. We’ll talk about what you can do about it.You're not alone if you have a boomerang kid living in your basement. The latest Boomerang Kids Survey by Thrivent, conducted in April, found that 46% of parents have had an adult child move back in with them at some point. This trend brings unique financial challenges for both parents and children.Impact of Student Loan DebtThe survey revealed that student loan debt is a significant factor preventing boomerang kids from achieving financial milestones:Buying a home: 39%Saving for retirement: 34%Building emergency savings: 36%Additionally, 28% of young adults report living paycheck to paycheck due to student loans, with only 22% saying their first job helps them pay down that debt.Financial Strain on ParentsAn adult child living at home may not be a significant financial burden if you only provide basic necessities. However, the costs can quickly escalate when parents start covering expenses like smartphones, student loans, and car payments. Many parents are willing to help their kids even to the point of jeopardizing their own financial stability. A Bankrate survey found that around half of parents have sacrificed emergency savings and debt payoff efforts to help their adult children, and 43% have tapped into retirement savings.This financial support can lead to dependence, where adult children begin to expect regular handouts. To prevent this, it’s crucial to establish boundaries and encourage financial independence.Strategies for Encouraging Financial Independence1. Realize the Need for ChangeIt’s essential to recognize the importance of addressing this issue. Having an adult child living at home should be temporary unless there are mitigating circumstances, such as caring for a disabled parent.2. Set Non-Negotiable RequirementsYour boomerang child must have a job and be earning an income. Set a deadline, such as “Moving out day is two months from now if you’re not working yet.” With plenty of jobs available, this should be feasible.3. Establish a Budget and Financial PlanOnce your child earns money, sit down with them to create a budget and financial plan. Emphasize the importance of saving money to move out and live below their means to achieve future financial success. You can temporarily offer to match their savings to accelerate the process.4. Encourage Emergency SavingsTeach your child to save for emergencies, ensuring their budget allows for this once they’re on their own. This will prevent them from needing to borrow money or move back in during a crisis.5. Be a Financial Role ModelLead by example. Demonstrate wise money management practices to instill financial responsibility in your children. Proverbs 22:6 tells us: “Train up a child in the way he should go; even when he is old he will not depart from it.”It’s never too late to start teaching financial responsibility. By implementing these strategies, you can help your boomerang child leave the nest successfully and achieve financial independence. Remember, the goal is to guide them toward a future where they can manage their finances wisely and thrive on their own.On Today’s Program, Rob Answers Listener Questions:Why did my credit score drop after making a large payment on my credit card?Can we withhold tithing temporarily to focus on expenses for our son's home, or should we continue tithing even though it's a struggle right now?I formed a revocable trust 23 years ago after my husband died when I owned a house. Now, I no longer own the house, and the only things in the trust are my car and some investments totaling about $80,000. Is it still worth having the trust, or should I get rid of it? If I do get rid of it, how do I do that? I'm also concerned about the tax implications for my children after I die. Would it be better for them to have the trust or not?I'm considering adding an addition to my home, which I own for free and clear. My 401(k) has grown substantially and is now around $1 million. I wonder whether it would be better to borrow the money for the addition and deal with the opportunity cost or to set up a home equity line of credit and pay it back over the next 10-15 years like a regular mortgage. What would be the better option for me?Resources Mentioned:Boomerang Kids Survey (Thrivent)Rich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people l

“Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” - Proverbs 13:11Patience is definitely a virtue, especially when it comes to investing. But too often, we allow our emotions to rule over us. Dr. Art Rainer joins us today to discuss four ways emotions ruin smart investing.Dr. Art Rainer is the founder of the Institute for Christian Financial Health and Christian Money Solutions. He is a regular contributor here at Faith & Finance and the author of “Money in the Light of Eternity: What the Bible Says about Your Financial Purpose.”The Impact of Emotions on InvestingWe often hear comments like, “The market has been on fire! I’m putting more money in!” or, “The market is tanking! I’m taking all of my money out!” These reactionary decisions in response to market fluctuations are rarely smart. When it comes to investing, emotions are your enemy. Allowing them to guide your decisions will likely lead to buying high and selling low, undermining the growth of a solid retirement fund.Let’s look at four ways emotions ruin smart investing so folks don’t fall into the emotional investing trap:1. Emotions often focus on the present rather than the future.While the present matters, we can become so consumed with day-to-day market volatility that we miss the big picture. Remember, we’re investing for the future, not today. Keeping your eyes on the future helps make market bumps seem less dramatic. So, limit emotional decision-making by focusing on long-term goals.2. Allowing fear to take over during a down market.When the market heads south, fear can suddenly overwhelm us. Fear-driven decisions rarely result in thoughtful, sound choices. We saw this in 2008 when many individuals pulled out of the market, vowing never to invest again. Most would now agree that their decision wasn’t the best. During a down market, fear is often your worst enemy. Not to mention that when the market is down, steady contributions purchase more shares to increase in value when the market recovers.3. We can be overconfident during an up market.Just as fear can hurt during down markets, overconfidence does the same during up markets. Before the dot-com bubble burst in 2000, we saw this overconfidence again in 2020. Upward-moving markets can make people view the market as free money. Investors who lack experience start buying riskier investments, and those who have never been in the market jump in, not wanting to miss out. This overconfidence can be as devastating as fear.4. Feeling regret when looking back on past investment decisions.You fear the drop and miss out on the gain, or you’re overconfident and suffer significant losses. This regret can lead to overcorrection in future decisions. While regret can help us learn, it’s crucial not to let it dominate our actions. The Bible says that saving is wise, so be wise. Save and invest for the future, but don’t let emotions drive your decisions.Becoming a Certified Christian Financial Counselor (CertCFC)Certified Christian Financial Counselors (CertCFC) help individuals and couples discover and pursue God’s design for money. Practically, Certified Christian Financial Counselors (CertCFC) guide individuals and couples in making wise financial decisions, building sound financial habits, and increasing their biblical financial literacy.If you’d like to learn how to become a Certified Christian Financial Counselor (CertCFC), you can go to ChristianFinancialHealth.com. If you need help creating a spending plan and want to work with a Certified Christian Financial Counselor (CertCFC) to get your finances back on track, go to FaithFi.com/Find. On Today’s Program, Rob Answers Listener Questions:What do I do with the $100,000 in my 401(k) from my previous job? I'm unsure if I should leave it there, roll it into my new employer's 401(k), or move it to an IRA. I want to make sure I'm making the best decision for my retirement savings.My question is about assigning a power of attorney. I don't have any family members I can ask to serve in that role. What do you recommend I do in this situation?My question is about the trust protector role that my attorney has assigned themselves to my trust and will document. I'm unsure what that means or if I should move forward with them in that position. Can you explain what a trust protector is and whether I should be concerned about that?During some slow months at my sales job, I've had to borrow money from family members to cover my mortgage and bills. When I get my next commission payment, I'll only have enough to pay back what I owe. I'm worried that if something were to happen to me, my kids would be affected by the debt I owe. I want to honor God with my finances, but I'm not sure what the right thing to do is in this situation. Can you provide any advice?Resources Mentioned:The Institute For Christian Financial HealthChristian Money SolutionsRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advi

“Do not be unequally yoked with unbelievers. For what partnership has righteousness with lawlessness? Or what fellowship has light with darkness? - 2 Corinthians 6:14That warning from the Apostle Paul is usually interpreted to mean that you shouldn’t marry outside the faith. But does it apply to other relationships just as much? Ron Blue joins us today with his practical and spiritual insights about partnerships.Ron Blue is the co-founder of Kingdom Advisors and the author of many books on biblical finance, most notably “Master Your Money: A Step-by-Step Plan for Experiencing Financial Contentment.”Understanding Partnerships Beyond MarriageIn 2 Corinthians, the Apostle Paul wasn’t just talking about marriage in his teachings; he was referring to all kinds of partnerships. Partnerships are prevalent in various professions, often seen in businesses with multiple partners and owners. These partnerships can last a long time. Business partnerships, much like other types, require careful consideration and management.Key Principles for Successful PartnershipsHere are a few key principles to consider:Protect Your Testimony: Being in a partnership with someone unequally yoked can impact your testimony. Only you and God can answer whether the partnership is worth the risk to your testimony.Have an Exit Strategy: Just like marriages, many partnerships end up dissolving. It's crucial to have an exit strategy in place before forming a partnership. This ensures that either party can exit the relationship equitably while maintaining their testimony.Preserve the Business’s Testimony: The business itself is often more critical than the individual founders. The goal is for the business’s mission and testimony to live beyond the partnership.On Today’s Program, Rob Answers Listener Questions:My question is about the capital gains tax on the property my husband plans to sell in Georgia. He lived there for 19 years before we married in September 2022 and moved to Tennessee. He plans to sell the Georgia property, pay off the remainder of our house in Tennessee, and invest the rest. I want to know if there is a time limit for him to sell the property and invest the proceeds to avoid paying as much capital gains tax as possible.How much cash should I keep at home versus in a safe deposit box? I've heard that some people are now keeping a lot of cash at home, like $4,000 or $5,000, and I wonder if you would recommend that. I don't have a debit card or ATM access, so I would need to go to the bank to get cash if needed.My husband and I have several savings accounts that hardly earn any interest. We have about $18,000 total in these accounts. What would you recommend we do to get a better return on this money? I want to ensure the money is still easily accessible as an emergency fund, but I'd like to see it earning more interest if possible.My siblings and I have some farmland that we inherited when our dad passed away eight years ago. The sale of the farmland is getting close to being finalized. I wonder how my tax filing status will affect the capital gains taxes I must pay on the sale. I'm currently single but plan to get married this year. Will filing jointly with my spouse next year impact the capital gains taxes I owe on the farmland sale this year?Resources Mentioned:Bankrate.com | NerdWallet Rich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

“I praise you, for I am fearfully and wonderfully made. Wonderful are your works; my soul knows it very well.” - Psalm 139:14God made each of us in His image, yet unique in our own way. We have different abilities to serve the Kingdom and different needs. For example, our healthcare needs differ. We’ll talk with Lauren Gajdek today about a great way to help you pay your individual healthcare costs.Lauren Gajdek is the Vice President of Communications and Media at Christian Healthcare Ministries, an underwriter of Faith & Finance. Christian Healthcare Ministries for Every ChristianChristian Health Care Ministries, or CHM, is for every Christian, regardless of where you live in the country or your denominational background. It's the body of Christ coming together to share each other's health care costs. Their common bond is the love we all have for God and the salvation we have through Jesus Christ.Healthcare needs differ and change over time. Whether you're a single person, a married couple, a younger or older married couple, have kids at home, or are an entrepreneur starting a business, CHM can go with you wherever you go. Even as you prepare for retirement, CHM can be a great solution for you.CHM Program OptionsLet's dive into the options available for different life stages:Bronze, $92 per unit, per month Silver, $138 per unit, per monthGold, $240 per unit, per monthSenior Share, $115 per unit, per monthYou can change your program and even have different family members on different programs, offering a lot of flexibility.The Sense of Belonging with CHMCHM is a Christian organization and a ministry first and foremost. They talk to people every day going through very difficult times, and participating in this program means receiving prayer and encouragement when you need it most. As 1 Corinthians 12:27 says: "You are the body of Christ, and each one of you is a part of it."Medigap and Medicare Advantage with Senior ShareCHM will also help with costs that Medicare doesn't cover. They do require Medicare enrollment if you're of the proper age, but if there's a gap in coverage, CHM can step in and help pick up those additional costs.If you want to learn more about Christian Healthcare Ministries (CHM), you can visit CHMinistries.org/FaithFi.On Today’s Program, Rob Answers Listener Questions:I'm concerned that a mass transfer to cryptocurrency could affect credit, interest payments, and the US dollar. I recently received an inheritance, and I'm worried about how this could impact the growth of my money. Should I look into alternatives like gold instead of keeping my money invested?My wife and I inherited an IRA from my mother, who passed away from COVID. I started with about $215,000 in the account, which has now grown to around $235,000. With all the market volatility, I'm feeling a bit nervous about it. We also recently built a house with a mortgage of around $230,000 at an interest rate of 2.85%. I'm trying to decide whether to use some of the IRA money to pay off the mortgage or keep the IRA invested and let it grow over the next ten years before withdrawing it. What would be the best financial decision for my wife and me?I recently received some Walmart stock, about $5,200 worth, as part of an inheritance from my sister. The attorney sent me the cash. How do I report this on my taxes? Does the attorney need to send me a 1099, or do I just need to report the $5,200 I received? I usually file my taxes, but I want to ensure I handle this inheritance properly.Resources Mentioned:Christian Healthcare Ministries (CHM)Rich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The late Tim Keller once said, “Just because you can’t see or imagine a good reason why God would allow something bad to happen…doesn’t mean there can’t be one.”When something bad happens to your finances, it’s tempting to wonder if God really knows what he’s doing. Well, He does! Today, we’ll find God’s comfort in the midst of financial trials.1 Peter 5:7 reminds us of God’s love for us in the midst of life’s troubles: “Cast all your anxiety on him because he cares for you.” It’s a reassuring verse, but you must know the context to understand God’s comfort fully.The Context of Peter's MessageThe Apostle Peter wrote his letters to Christians scattered throughout Asia Minor. Many of them were being persecuted, discriminated against, and even murdered because of their faith in Jesus. In these hardships, Peter told his readers to: “Humble yourselves, therefore, under God’s mighty hand, that he may lift you up in due time. Cast all your anxiety on him because he cares for you.” - 1 Peter 5:6Life can be challenging. It certainly wasn’t for first-century Christians and may not be for you right now. But Peter’s words contain the secret of God’s comfort. It begins with humility.You can probably think of a time when you were going along just fine, and out of the blue, something awful happened, like the death of a loved one, a business failure, a car accident, or a job loss. These tragedies can have severe emotional, physical, and financial consequences.Our Reactions to HardshipsHow do you usually react when bad things happen? Maybe you feel anxious and say, “That’s not how things were supposed to go!” Or, you might feel angry and discouraged, thinking, “Nothing good can ever come from this!” If this sounds like you, you’re in good company. Whether you read the book of Psalms and see David praying laments before God or see Job questioning God during the unfair trials he faced, we leave with this beautiful truth: God can handle our raw, honest emotions.Like David and Job, in these difficult circumstances, we need to continually be reminded that God is mighty, loving, and perfectly capable of running the universe. As worshipers, we’re not called to deny our pain but instead offer it to the only One who can do anything about it. When we bring our grief into God’s presence, we gain perspective. It’s a perspective that rises above the storm. It’s a perspective that sees the Son of Man standing alongside you in the fire.Trusting God's TimingAnother idea in this passage can help us when we struggle. It’s the part that says God will lift us up in due time. In other words, God is sovereign, and there is always hope. We can trust God’s timing, even if it doesn’t match our expectations. God is working things out for our good and his glory.Sometimes, it’s not enough just to listen to a radio program. The struggles in your life hit you hard, and you need more. I hope you’ll spend some extra time reading God’s Word. Pray. Find out what God wants to teach you through your struggles. Spend time with other believers, encouraging each other.The next few verses in 1 Peter 5 explain why these spiritual disciplines are so important. 1 Peter 5:8 reads: “Be self-controlled and alert. Your enemy the devil prowls around like a roaring lion looking for someone to devour. Resist him, standing firm in the faith.” This passage reminds us of the spiritual battle going on all around us. Suffering can make us even more vulnerable to Satan’s attacks. He tries to make us believe we can “do life” without God. But Peter tells us to resist his lies. Bible study, fellowship, and prayer will help you stand firm in the faith.Practical Steps for ComfortTrust the Lord that he has a good reason for what you’re going through right now! The late Tim Keller reminds us, "If we knew what God knows, we would ask exactly for what he gives.”So, when your finances fall apart, here’s how to find real, deep, lasting comfort:Set aside your expectations for how things should be.Humble yourself, and confess your pride.Acknowledge God’s right to be the Lord in every situation.Rest in the hope that God works all things out for your ultimate good.List what you’re worried about or afraid of in this time of trouble.“Cast all your anxiety on him because he cares for you.” - 1 Peter 5:7Stand firm in your faith!In Romans 5:3-5, Paul reveals that God uses hardships to make us more like Christ. It reads: “We also glory in our sufferings, because we know that suffering produces perseverance; perseverance, character; and character, hope. And hope does not put us to shame, because God’s love has been poured out into our hearts through the Holy Spirit, who has been given to us.”Remember, the challenges we face are not just obstacles but opportunities to deepen our faith and experience God’s transformative love. Stand firm in your faith, surrounded by a community of believers, and trust in the boundless grace of God, who turns our trials into triumphs. Let's move forward with hope, knowi

Home mortgage rates haven’t gone through the roof in recent weeks…that’s the good news.The bad news is that they’re already pretty high. Coupled with high home values, it’s an uphill climb for first-time home buyers. Will it get easier anytime soon? Dale Vermillion joins us today to talk about it.Dale Vermillion is the author of Navigating the Mortgage Maze: The Simple Truth About Financing Your Home. This book covers everything you need to know about securing a mortgage—all from a biblical perspective.Current Mortgage Rate OutlookThe rates on a 30-year fixed mortgage have been hovering around 7%, and we can expect them to stay between 6.5% and 7.25% for the remainder of this year. Analysts predict that rates may not drop to the 5% range until at least 2025 or 2026, barring any dramatic market changes.The biggest challenge for first-time home buyers is affordability, not inventory. Despite an increase in available homes (620,000 nationwide compared to 451,000 last year), the average sales price is around $420,000. Prospective buyers must carefully budget and ensure they don’t overextend themselves financially.Timing Your Home PurchaseGiven the stable interest rates and improving inventory, now might be a better time to buy than in recent years, as long as you're financially ready. New construction starts are up, particularly in the $200,000 to $350,000 range, ideal for first-time buyers. Additionally, the post-busy season (after school starts) might offer a better buying opportunity with less competition.Interestingly, the housing market seasonality has shifted since COVID-19. Traditionally, spring and summer were the hot buying seasons, while fall and winter were cooler. However, current market demand and population numbers have evened out these seasonal trends. Higher interest rates generally mean less competition, making it a good time to buy.Pricing Your Home for SaleThe strategy for pricing homes has evolved. Previously, sellers would price high and negotiate down. It’s common to price lower to attract more buyers, often resulting in offers above the asking price. However, recent trends show that about 35-36% of homes sell below the asking price, indicating a shift towards more realistic listing prices.For more guidance on navigating the complexities of buying and selling homes, check out Dale’s book, "Navigating the Mortgage Maze: The Simple Truth About Financing Your Home."On Today’s Program, Rob Answers Listener Questions:I have a mother who has been involved in a Publishers Clearing House scam for the last several years. My brother and I, along with the police, have tried to convince her that it is a scam, but she refuses to believe us. Recently, we were able to arrange the sale of her house and get her into an independent living situation with the ability to transition to assisted living or memory care if needed in the future. However, I have found that she has continued to participate in the scam and is giving away her retirement income each month. As her power of attorney, I am trying to save what is left of her assets for her future care. Am I doing the right thing by taking control of her finances to prevent her from being further exploited?I have a few credit cards with Capital One and some loans, including a farm investment loan and a business loan. The interest rates on these debts are high, and I'm figuring out how to lower my monthly payments. I'm currently working with Primerica in the financial services industry, but the income from that is slow. I would like to know if I should look into a debt consolidation loan to settle my payments and make it easier to manage my debt. What would be the best approach for me in this situation?Resources Mentioned:Navigating the Mortgage Maze: The Simple Truth About Financing Your Home by Dale VermillionChristian Credit CounselorsRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Human Genome Project discovered amazing things about man’s makeup. What it didn’t find…was a saving gene.In my book, that means saving doesn’t come naturally—it’s a habit we have to learn…and God’s Word tells us why it’s so important.The Reality of Financial InsecurityYou might be surprised to learn that surveys show less than half of Americans can handle an unexpected expense of $1,000. Many have little or nothing in their emergency fund, and when financial setbacks occur, they often have to borrow, usually using credit cards. This situation highlights the importance of saving, a practice the Bible encourages as wise.Proverbs 10:4-5 states, “A slack hand causes poverty, but the hand of the diligent makes rich. He who gathers in summer is a prudent son.”While it’s prudent to save, we must remember not to put too much trust in our bank accounts. Our ultimate trust should always be in God, our Provider, who has promised to meet our needs and remains faithful.Trusting in God's ProvisionLuke 12:24 reads, “Consider the ravens: they neither sow nor reap, they have neither storehouse nor barn, and yet God feeds them. Of how much more value are you than the birds!” This verse reminds us that while God has His part in our provision, we also have ours. We are to save as His Word instructs us. If you struggle with the temptation to spend, take comfort in 1 Corinthians 10:13, which assures us that God will provide a way to endure and overcome temptations.For some, saving money can’t be avoided due to low-income levels. However, many people who struggle with saving actually make enough money but lack self-discipline. The key to saving is living below your means and exercising self-control. God wants our lives to be balanced, enjoying His bounty while also taking care of our families and helping others in need. This becomes difficult without savings.Everything we have belongs to God, not just what we put in the offering plate. We are stewards of the resources He entrusts to us, and it’s our responsibility to manage them wisely. Here are some steps to start the process of saving:Steps to Start SavingCreate a Spending Plan: Without a budget, you’re flying blind. Your budget should cover all planned expenses and leave something left over. Consider using the FaithFi app to make this process easier.Cut Spending: You’ll need to reduce expenses in some areas. Identify and trim non-essential items from your budget. However, don’t try to do it all at once. Make realistic cuts to avoid feeling deprived.Save from Every Paycheck: Establish the habit of saving something from each paycheck. Developing this discipline is more important than reaching a specific goal. Over time, you can gradually increase your savings amount.Set Attainable Goals: Start with small, achievable goals, like saving $100 or $200 a month. Begin with building an emergency fund, aiming for $1,500, then one month’s living expenses, and eventually 3 to 6 months’ worth.Long-Term Savings Goals: Once your emergency fund is established, set new goals such as buying a home, taking a family trip, or giving to a favorite ministry.Team Effort for Couples: If you’re married, make saving a team effort. Set long-range goals together and celebrate progress, but keep celebrations within your budget.Prayer and Contentment: Pray for self-control and a contented heart. Developing the habit of saving will improve your life, relationships, and ability to serve God and help you sleep better.By following these steps and trusting in God’s provision, you can build a solid financial foundation. Saving provides security and enables you to be a faithful steward of God’s resources, ready to meet your needs and help others. Start today and watch how it transforms your life.On Today’s Program, Rob Answers Listener Questions:What should I do with the Schwab account that has been sitting there for the past seven years? I want to ensure I invest it responsibly and in accordance with my Christian values, but I'm unsure how to do so. Can you provide guidance on finding a financial advisor to help me do so?I've taken a break from work for the past four months to focus on my mental health and seek God's guidance on my next steps. I've fallen into debt with two credit card loans during this time. Now that I'm back to work, should I try to pay off these loans the old-fashioned way by making payments, or should I go through a lender that can help me settle the debt? I want to ensure I'm handling this in a way that honors God.My husband was offered a job with a new company that is part of a union. We're unfamiliar with what that entails, as he's never worked for a union. We're trying to weigh the pros and cons - would the benefits and pension offered by the union be worth paying the union dues, or would it be better for him to stay in his current non-union job? What financial considerations should we consider as we make this decision?Resources Mentioned:Christian Credit CounselorsRich Toward God: A

We are so materially blessed that we take many things for granted. Can you imagine not having a simple pair of shoes to go about your day?It’s tragic. Millions of children around the world, many of them orphans, suffer the huge disadvantage of not having shoes. Shawn Spurrier joins us today to talk about a way you can help.Shawn Spurrier is the Director of Buckner Shoes for Orphan Souls at Buckner International, an underwriter of Faith & Finance. The Importance of New ShoesProviding new shoes and socks is fundamentally important for these children. New shoes mean:Health: Protecting against disease and infection.Education: Lowering barriers to school attendance.Hope: Demonstrating worth and God’s love.Opportunity: Connecting families to holistic ministry.With the support of generous folks, vulnerable children are protected from disease, receive an education, gain confidence, and see new possibilities in life. Most importantly, they receive the priceless message of the Gospel.How Shoe Drives WorkOne of the key ways Buckner Shoes for Orphan Souls accomplishes its mission is through shoe drives. Hosting a shoe drive is a simple yet impactful way to partner with this ministry. Anyone can sign up to host an in-person or virtual shoe drive in their community, regardless of location or time of year. Here’s how it works:Sign Up: Register for a shoe drive at Buckner.org/shoes.Coordinate: Work with your school, church, office, or club to organize the drive.Promote: Buckner provides all the necessary materials, including:Promotional instructionsPostersBrochuresDVDs with promotional videosPacking and shipping instructionsCollect: Gather new shoes and optional donations to cover shipping costs.Ship: Send the collected shoes to the Buckner Center for Humanitarian Aid in Dallas, Texas. Buckner will distribute them to needy children worldwide.Other Ways to HelpIf hosting a shoe drive isn’t feasible, there are still ways to get involved. Making a donation is a powerful way to contribute. A $15 or $30 donation can change a child’s life by providing them with a pair of shoes. To make a donation, simply visit GiveShoesToday.org.Whether you host a shoe drive or make a donation, you can play a vital role in this ministry. Visit Buckner.org/shoes to learn more and get involved.On Today’s Program, Rob Answers Listener Questions:My question concerns whether I should diversify where I invest. I'm 65 years old and have about $1.2 million, with half of that in a brokerage account with LPL and the other half in a previous employer's 401(k). My broker would like to transfer all the money to him, but I'm considering moving the 401(k) portion to a fee-based management account instead. I'm concerned about putting all my eggs in one basket, so I'd like to know if I should consider a different advisor for that portion of my investments.I paid off my house a couple of years ago, but the title company still has the title. Should I leave the title with them as a safe spot or take it out and put it in a safety deposit box or somewhere else? What should I do with the title now that my home is paid off?My husband and I are deciding the best time to replace my car. We're both retired, but he still works part-time for a couple more years. He thinks replacing the car while he's still working is better, but I have a 13-year-old car running great. I'm hesitating about trading it in. What's your opinion on whether I should replace the car now or wait?I'm pushing 80 years old, and I'd like to close many accounts. I don't even care about my credit score at this point. But how much of a hit does it put on my credit to close if I want to close three or four accounts?Resources Mentioned:Buckner Shoes For Orphan SoulsRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

“A good man leaves an inheritance to his children's children, but the sinner's wealth is laid up for the righteous.” - Proverbs 13:22We’re all familiar with that verse, but do we fully understand its meaning? Is it only about money? I’ll talk about that with Harlan Accola today.Harlan Accola is the National Reverse Mortgage Director at Movement Mortgage, an underwriter of Faith and Finance. He is also the author of Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement. The Misconception of Leaving a Financial InheritanceAs Christians, we often forget that the most important legacy we can pass on is our faith and wisdom, especially financial wisdom, to help our children avoid mistakes we’ve made. Much like other private topics, money management is rarely discussed but is critically important.Many people believe they must leave a financial inheritance, particularly their home, to their children, stemming from historical practices of passing down farms or businesses. This belief often leads the elderly to sacrifice their own comfort. However, assets, including homes, should be viewed like any other possession. It's unfortunate that some elderly individuals avoid reverse mortgages and live in poverty to preserve their homes for their heirs, driven by fears that this approach might be unbiblical or might upset their children.Starting the Conversation EarlyThe solution to these issues is early and open conversation. Often, parents are private and embarrassed about their financial struggles. Children can initiate these discussions, reassuring their parents that it’s not about the inheritance but their well-being. Most children wouldn’t want their parents to forego basic necessities or bucket list vacations for a larger inheritance. They appreciate their parents' hard work and want them to enjoy the fruits of their labor.For adult children wanting to start this conversation with their parents, Harlan suggests using examples from family and friends who faced long-term care issues or probate messes to discuss their own family's plans. It's crucial to make clear that the motivation is not about receiving an inheritance but about ensuring the parents' comfort and security. Clear instructions from parents can prevent family conflicts later on.Mechanics of a Reverse MortgageRegarding reverse mortgages, it’s important to note that homes will continue to appreciate, often leaving equity for heirs. It is generally better to give with a warm hand or leave behind assets like Roth IRAs and life insurance proceeds instead of a home. Additionally, heirs might be able to deduct unpaid interest and mortgage insurance, potentially erasing significant tax liabilities.If you’re looking for a mortgage solution or have questions about whether a reverse mortgage is right for you, you can contact Movement Mortgage at movement.com/faith.On Today’s Program, Rob Answers Listener Questions:My husband's wallet has been lost, and his social security card was in it. I'm wondering if we've done everything we should to protect ourselves or if there's something else we could do. We've already canceled our credit card.Resources Mentioned:Movement MortgageAnnualCreditReport.comRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

If you have school-age children, you know that we’ve entered one of the year's busiest shopping seasons.It’s true—families are gearing up to send kids back to school, which means a lot of spending. So, how can you make the most of yours without going into debt?As summer winds down, retailers gear up for their own version of Christmas: back-to-school shopping season. A recent survey by NerdWallet reveals that parents of K-12 and college students plan to spend an average of $540 on school supplies and clothing this year. Unfortunately, this can lead to financial strain, with one in ten shoppers going into debt and another 20% using "buy now, pay later" programs.Avoid Debt with Smart ShoppingTo avoid falling into debt, maximizing your back-to-school budget is essential. One way to do this is by taking advantage of sales tax holidays in your state. These holidays can save you anywhere from 2% to 7%, but they vary widely by state, so knowing the exact dates and eligible items is crucial.Sales tax holidays often occur over weekends, but the exact timing can differ. Some states start on a Friday and end on Saturday. Additionally, the items that qualify for tax exemption also vary. While clothing and computers are generally tax-free, accessories might not, so planning your purchases is essential. NerdWallet provides a handy guide detailing which states have tax-free holidays, their dates, and the tax-free items. We’ll include a link to it in today's show notes.Not all localities participate in state tax holidays, so check if your city or town is included. If not, you might need to shop in a nearby area. Fortunately, many states allow for tax-free online purchases during these holidays, provided the items are ordered and paid for within the tax holiday period, even if they are delivered later. Major retailers like Amazon and Walmart participate by automatically deducting sales taxes on eligible items.If you don't already have a membership at a big warehouse store, consider getting one. The savings from back-to-school sales and the benefits of sales tax holidays can make the membership fee worthwhile.Avoiding The Debt TrapRegardless of sales tax holidays, you must determine your budget without relying on credit cards. Make a list of essential items your kids need for the school year. If your budget doesn’t cover everything, prioritize purchases and buy only what you can afford now.While using credit cards to buy everything at once might be tempting, the high interest rates—now averaging around 22%—make this a costly option. It’s better to save on sales tax for some items now and purchase the rest with cash later, avoiding credit card debt.Retailers will tempt you with promotions and sales, but not all items may be tax-exempt during the holiday period. Stick to your pre-determined list to avoid impulse purchases and unnecessary spending.Planning carefully and taking advantage of sales tax holidays allows you to make the most of your back-to-school shopping without falling into debt.On Today’s Program, Rob Answers Listener Questions:My son has back taxes he owes and was looking for tax relief possibilities. He found a company that advertises on national TV, claiming they have saved over a billion dollars in tax dollars for individuals and helped close to 72,000 people. The company's website shows that it has a good rating with the Better Business Bureau and is a member of the NAATP. My son was persuaded to sign up with them, make three upfront installments with his credit card, and give them power of attorney to represent him to the IRS. As we looked into the company further, we found that the reviews indicate they rarely obtain any tax relief or assistance for their clients, despite their claims. I'd like to know whether my son should continue with this company or if he has gotten into a bad situation that will just be a costly lesson learned.My husband and I have a real estate opportunity. A gentleman from our church has a disabled friend who is about to be taken from his home because he has no money and owes about $2,600 in back taxes. The gentleman wants to know if we would put our name on the deed with his friend and let him live the rest of his life there, with us paying the taxes. What would the tax implications be for us in this situation?I have a whole life insurance policy I've had for over 30 years, closer to 40 years. I'm retired now and have money built up inside the policy. It's set up so I could take a loan against it, but I don't see myself doing that. My children are grown, and I've heard that I could potentially sell this policy or just turn it in and get rid of it. I'm hoping you can provide some insight on the best way for me to use or get rid of this policy.I'm 38, single, and recently lost my good-paying job. I'm trying to figure out what to do with my house. I'm thinking about selling it and getting rid of the whole thing, as I'm running out of room. I'm looking for some wisdom and advice on how