Faith & Finance

SCRIPTURES ON FEAR AND GOD'S PRESENCE:Jesus asks a powerful question about worry in Matthew 6:27, asking, "Can any one of you by worrying add a single hour to your life?”Romans 8:15 encourages reliance on God instead of falling back into fear: "For you did not receive the spirit of slavery to fall back into fear, but you have received the Spirit of adoption as sons, by whom we cry, ‘Abba! Father!’”Faith is the opposite of fear, and fear is a tool used by Satan to distract from God's goodness. COMMON "WHAT-IF" FEARS AND THEIR FUTILITY:Rob lists common "what-if" scenarios that lead to fear about the future, highlighting their tendency to divert focus from God’s plan. BIBLICAL PERSPECTIVE ON FEAR:Isaiah 54:17 offers reassurance: "No weapon formed against you shall prosper, and every tongue which rises against you in judgment You shall condemn. This is the heritage of the servants of the Lord, and their righteousness is from Me,” says the Lord.John 16:33 affirms that despite tribulations in the world, victory in Christ is assured: “In the world you will have tribulation, but take heart; I have overcome the world.”Isaiah 41:13 reassures God's help and presence: “I am the Lord your God who upholds your right hand, who says, ‘Do not fear, I will help you.”1 Timothy 1:7 emphasizes that God grants us a spirit of power, love, and sound mind instead of fear.Proverbs 12:25 highlights the negative impact of anxiety and the uplifting power of kindness: “Anxiety weighs down the heart, but a kind word cheers it up.”ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I'm old-school and accustomed to writing checks, should I switch to online bill payment, and is it safer?Concerned about the possibility of an audit, I'm debating whether to itemize my donations this year or wait until next year, given my wife's concerns about the audit process.I contribute 15% to my Roth 401(k) and want to know if it's better to split contributions between traditional and Roth accounts. RESOURCES MENTIONED:Movement MortgageSound Mind Investing:SoundMindInvesting.orgCredit Karma:CreditKarma.comChristian Credit Counselors:christiancreditcounselors.orgFind a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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.

Lauren Gajdek is Vice President of Communications and Media at Christian Healthcare Ministries, an underwriter of this program. WHY IS CHRISTIAN HEALTHCARE MINISTRIES A LIFESAVER FOR THOSE WHO MISSED THE OPEN ENROLLMENT DEADLINE?Lauren explains that Christian Healthcare Ministries (CHM) operates differently from traditional insurance companies, allowing people to join at any time of the year without waiting for an open enrollment season. This flexibility makes CHM accessible for those who have missed enrollment deadlines.CHM allows joining anytime.It operates on a biblical concept of sharing resources among members.CHM has shared over $10 billion in members' medical bills, demonstrating its extensive support network. HOW DOES CHM DIFFER FROM TRADITIONAL HEALTH INSURANCE AND HOW DOES IT WORK?CHM is a medical cost-sharing organization, not an insurance company. It's based on a biblical concept where believers pool resources to ensure no one is left in need. Lauren emphasizes that CHM's approach has enabled the sharing of substantial amounts of medical bills, providing a reliable alternative to traditional health insurance.CHM is a medical cost-sharing organization inspired by biblical principles.It emphasizes mutual support among members, replicating the early church's resource sharing.CHM's long history and significant bill-sharing reflect its effectiveness and reliability. WHAT ARE THE COST BENEFITS OF CHM COMPARED TO TRADITIONAL HEALTH INSURANCE?Lauren highlights the affordability of CHM, with membership costs ranging from $92 to $267 per month for an individual, regardless of health history, age, or weight. She points out that CHM's 'personal responsibility' costs, similar to deductibles, are significantly lower than high insurance deductibles, making it an affordable option.CHM offers affordable membership rates, unrelated to personal health factors.It provides a financially viable alternative to high-deductible health insurance plans.The 'personal responsibility' cost in CHM is capped annually, enhancing its affordability. WHAT IS THE SPIRITUAL COMPONENT OF CHM?The spiritual aspect of CHM, as Lauren explains, is based on Galatians 6:2, focusing on bearing each other's burdens. This spiritual support is manifested through prayer, encouragement, and being a part of a larger Christian community, adding a significant dimension to the financial assistance CHM provides.CHM emphasizes spiritual support alongside financial assistance.Members engage in prayer and encouragement, strengthening communal bonds.The ministry operates under the principle of bearing each other's burdens as a reflection of Christ's teachings. For more information or to explore joining CHM, visitChristian Health Care Ministries or call 800-791-6225. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I have a $79,000 annuity with an insurance company and am considering rolling it over into my IRA for better returns, but I'm unsure if it's a good idea.Is debt consolidation worth it, and can you recommend any companies for it?As a military veteran with a head injury and recent widower, I'm unsure about filing a special tax return; what should I do?I had hail damage to my roof and a roofing company wants to replace it, but I can't afford the $2,000 deductible. Is it proper or legal to find another company that can offset this amount?I own my home and recently sold some real estate for about $750,000. I'm interested in other investment properties but didn't file the proper form for a 1031 exchange. What can I do now? RESOURCES MENTIONED:Christian Credit CounselorsFind a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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.

Sharon Epps is the president of Kingdom Advisors, our parent organization. Kingdom Advisors is a group dedicated to training financial professionals to guide and advise you according to biblical principles. WHAT ARE THE BIBLICAL PRINCIPLES RELATED TO CASH FLOW AND LIVING EXPENSES?Sharon emphasizes the importance of spending less than we earn, drawing from Philippians which teaches contentment in all situations. Contentment is key in managing finances as it helps us be satisfied with what we have and avoid unnecessary spending.To improve financial health, it's vital to spend less than what we earn.Contentment with our current situation is crucial for financial stability.Reducing living expenses is a quick way to enhance cash flow. HOW CAN WE TRAIN OUR CHILDREN IN FINANCIAL MATTERS FROM A BIBLICAL PERSPECTIVE?Proverbs 22:6 tells us to train children in the way they should go, including financial education. Sharon suggests setting an example through actions rather than just words, teaching children both financial literacy and a biblical worldview of money.Train children in financial matters, including the importance of savings and understanding debt.It's essential to model good financial behavior as children learn more from what they see than from what they hear.A biblical worldview of money, emphasizing stewardship and generosity, should be part of their financial education. WHAT DOES THE BIBLE SAY ABOUT BORROWING AND DEBT?Proverbs 22:7 warns about the dangers of borrowing, portraying the borrower as a slave to the lender. Borrowing can sometimes prevent us from seeing God's provision and often presumes on the future. Sharon advises careful consideration before taking on debt, ensuring there's a guaranteed way to repay.Borrowing should be approached with caution, as it can lead to financial slavery.It's important to consider if the economic return of borrowing outweighs the cost.Before taking on debt, ensure unity with a spouse, exhaust all alternatives, and have a guaranteed repayment plan. WHAT IS THE IMPORTANCE OF GOAL SETTING ACCORDING TO BIBLICAL WISDOM?Sharon highlights the importance of setting goals, referencing Proverbs 16:3 which directs us to commit our plans to the Lord. Goal setting, when done prayerfully, aligns our financial plans with God's will and allows for flexibility as He leads.Setting financial goals helps align our plans with God's will.Goals should be set prayerfully, keeping open to God's guidance and changes.Flexibility in goals allows for God's intervention and redirection. HOW SHOULD CHRISTIANS APPROACH PAYING TAXES ACCORDING TO THE BIBLE?Referencing Luke 20:25, Sharon says that Jesus teaches to render to Caesar what is Caesar's. Paying taxes should be seen as a part of God's provision, recognizing that income is the reason for taxation. She emphasizes that seeking tax deductions shouldn't lead to unnecessary spending.Paying taxes is part of our duty and a reflection of God's provision.Taxes are symptomatic of income; reducing them often costs more in the long run.Rejoicing in the ability to pay taxes acknowledges God's provision in our lives. Sharon also discussed the principles of investing, understanding net worth, life insurance, life planning, and the role of a Certified Kingdom Advisor in integrating faith into financial decision-making. For more information on becoming a Certified Kingdom Advisor or finding one, visitKingdom Advisors. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I recently bought a car with cash after initially considering financing it, and I'm receiving notifications about a hard credit check; can you explain why this impacts my credit score?We came into some money, about $25,000, and I'm trying to figure out the best way to manage it without nickel-and-diming it away.RESOURCES MENTIONED:Bankrate for finding the best online savings account rates:bankrate.comRemember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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.

Mark Biller is executive editor at Sound Mind Investing, an underwriter of this program. WHAT DOES IT MEAN TO ALLOCATE YOUR PORTFOLIO OR REBALANCE IT?Mark Biller explains that asset allocation refers to the distribution of investments across various asset types, like stocks and bonds. Portfolio rebalancing is the process of adjusting the portfolio back to its target allocation. This is necessary because different investments perform differently over time, causing the portfolio to drift from its intended allocation. Rebalancing involves selling assets that have grown beyond their target percentage and buying those that are underrepresented to maintain the desired risk/reward balance.Asset allocation involves deciding how much to invest in different asset types like stocks and bonds.Portfolio rebalancing is adjusting the investment mix back to the target allocation.Rebalancing ensures the portfolio stays aligned with the investor's risk tolerance and goals. HOW DOES ONE DETERMINE THE APPROPRIATE TARGET ASSET ALLOCATION?The appropriate target asset allocation depends on the investor's goals, risk tolerance, and time until retirement. A thorough risk assessment is typically one of the first steps in investment planning. For example, someone with many years until retirement can usually afford more risk compared to someone closer to retirement. This assessment is crucial to arriving at an appropriate asset allocation target.Determining the right asset allocation involves considering personal goals, risk tolerance, and time until retirement.Younger investors can typically afford more risk than those nearing retirement.A detailed risk assessment is essential in setting the right target allocation. WHAT ARE THE BENEFITS OF REBALANCING AND HOW OFTEN SHOULD IT BE DONE?Rebalancing aligns the investor's portfolio with their ideal mix of risk versus reward. It also helps in achieving the goal of buying low and selling high by adjusting investments based on their performance. While conventional wisdom suggests rebalancing once a year, the key is to ensure the portfolio remains close to the target allocation. This process can be more straightforward for those with fewer asset types and more complex for diversified portfolios. It's also often a service provided by financial advisors.Rebalancing aligns the investment portfolio with the investor's ideal risk-reward mix.It helps to buy low and sell high by adjusting based on performance.Regular rebalancing, often yearly, is recommended to maintain the target allocation. WHAT ARE TARGET DATE FUNDS AND HOW DO THEY RELATE TO REBALANCING?Target date funds, increasingly popular in retirement plans, automatically handle asset allocation and rebalancing. These funds have a year in their name indicating the target retirement date, and the fund's allocation of stocks and bonds is managed accordingly. While convenient, it's important to ensure that the fund's assumptions match the investor's specific needs, as they can sometimes be more conservative than ideal. Choosing a fund with a different target year can adjust the asset allocation to better suit personal preferences.Target date funds automatically manage asset allocation and rebalancing for retirement.They may be more conservative, so it's important to choose one that aligns with personal goals and risk tolerance.Adjusting the target year can help match the fund's allocation to the investor's preferences. You’ll find a more detailed guide at Sound Mind Investing’s website. It’s called “SMI’s 2024 Rebalancing Guide.” ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I have enough savings to pay off my car loan with a balance of $12,000 and an interest rate of 3.84%; should I pay it off now while still having savings left?As I retire today at 65 and a half and plan to keep working, will my Social Security benefits increase if I continue working until 70? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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.

“Commit your work to the Lord, and your plans will be established.” Proverbs 16:3.Howard Dayton is the founder of Compass— Finances God’s Way and the former host of this program. HOW DOES A SPENDING PLAN HELP WITH MANAGING YOUR MONEY AND REDUCING YOUR DEBT?Howard, founder of Compass Finances God's Way, introduces the concept of a spending plan (budget). He explains that a spending plan is not just about restricting expenses but is a strategic tool that helps direct money towards achieving life goals and reducing debt. The plan also controls impulse spending and is flexible enough to adjust as needed.A spending plan is a strategic tool for directing money towards life goals and debt reduction.It controls impulse spending and is flexible for adjustments.Spending plans are ultimately freeing, not stifling. WHAT ARE THE CHALLENGES IN IMPLEMENTING A SPENDING PLAN AND HOW CAN WE OVERCOME THEM?The implementation of a spending plan can be challenging due to lifestyle changes and the need to make hard decisions. Howard advises that to effectively reduce spending, individuals may need to trim expenses, or even sell assets with high liabilities. He emphasizes that making both big and small cuts can significantly reduce monthly expenses.Implementing a spending plan may require lifestyle changes and hard decisions.Cutting back on expenses like entertainment and dining out can help reduce monthly spending.Selling high-liability assets (like a car with a loan) can also contribute to your financial health. HOW SHOULD COUPLES APPROACH SETTING UP A SPENDING PLAN?Howard highlights the importance of teamwork and communication for couples in setting up a spending plan. He mentions that patience and flexibility are key, considering the different personalities and money-handling approaches of each partner. The goal is to achieve unity in financial decisions, reflecting the harmony intended in marriage.Couples should work together and communicate openly while setting up a spending plan.Patience and flexibility are important due to different financial personalities and approaches.Unity in financial decisions is crucial for marital harmony. WHAT IS THE CONCEPT OF A 'MONEY DATE' AND HOW OFTEN SHOULD IT OCCUR?Howard recommends regular ‘money dates', ideally every other week, where couples review their financial situation. These dates are for reviewing income, expenses, and encouraging each other, avoiding the blame game. This regular check-in ensures both partners are aligned and accountable in their financial journey.A 'money date' is a regular meeting for couples to review and discuss their financial situation.It should occur at least every other week for effective financial management.This practice encourages mutual support and accountability in managing finances. WHAT IS THE IMPACT OF HAVING A SPENDING PLAN ON LONG-TERM FINANCIAL HEALTH?While not directly addressed in the conversation, it's implied that a well-implemented spending plan positively impacts long-term financial health. By ensuring money is spent according to set goals and priorities, individuals and couples can avoid debt accumulation, save for emergencies, and invest wisely, all of which contribute to financial stability and growth.A spending plan leads to better control over finances and avoids unnecessary debt.It facilitates saving for emergencies and wise investments.Long-term, it contributes to financial stability and growth. You can learn more about the new video study from Compass — Finances God’s Way, Navigating Your Finances God’s Way, at navstudy.org. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I sold my house and used some Roth IRA money for a new house, planning to put it back when I sold another property. Should I use more retirement money for a bigger house without a mortgage?My wife and I are wondering if we should tithe before or after taxes. What's your opinion on this?I recently inherited some money and my advisor recommends a fee-based account for stock and bond trading. Is this a good idea as I approach retirement?As a 55-year-old with a special needs son and limited retirement savings, how can I prepare for retirement and ensure my son is cared for? RESOURCES MENTIONED:Social Security Administration website:ssa.govFind a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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

Matthew 6:28-29: “Consider the lilies of the field, how they grow: they neither toil nor spin, yet I tell you, even Solomon in all his glory was not arrayed like one of these.”John Putnam is a certified financial planner, a Certified Kingdom Advisor, and founder of Smarter Stewardship, a marketplace ministry. HOW DO YOU COUNSEL PEOPLE WHO WORRY ABOUT MONEY, ESPECIALLY WITH TALK OF A LOOMING RECESSION?John Putnam discusses Matthew 6:28-29 and what it teaches us about God's provision and the importance of not being anxious.Focus on God's provision, as shown in nature, to minimize worry.Striving, or being overly concerned with the future, should be replaced by thriving, or being present in the moment God created.Anxiety does not add value to life; instead, it distracts from experiencing God's blessings. WHAT DOES REPLACING STRIVING WITH THRIVING LOOK LIKE?Replacing the struggle of striving with thriving involves being present in financial moments, patient, and generous, aligning with Jesus' approach to life.Being present in financial moments God gives, avoiding debt which can delay God’s provision.Being patient, following Jesus’ example of intentional ministry without haste.Being generous to others as a way to combat worldly worries and emulate Jesus' actions. HOW IMPORTANT IS UNDERSTANDING OUR ROLE AS STEWARDS IN THIS CONTEXT?John emphasizes the importance of stewardship, highlighting that everything belongs to God and leaving room for God's intervention in our finances and life can lead to peace and amazement.Acknowledging everything as God's provision leads to peace.As stewards, we should play our part but also allow God to work in our lives.Realizing the holistic provision from God helps replace worry with thriving. SUMMARY OF JOHN PUTNAM'S ADVICE ON MONEY AND STEWARDSHIPJohn Putnam concludes by encouraging people to focus on the overall provision from God and not let money concerns hinder enjoying life’s blessings.Replace worry and striving with a focus on God's overall provision.Embrace the specialness of life and God's goodness without being held back by money concerns.Trust in God's plan and stewardship to lead a fulfilling life. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I purchased a used vehicle and was offered an extended warranty. Is it advisable to get an extended warranty for a used car?I have the option to receive a buyout from my pension plan now or wait until retirement for a monthly payout. Should I take the lump sum to pay off my house, or wait for the monthly payments later?I own an older vehicle and am transitioning to newer models. When is it appropriate to switch from full coverage to just liability insurance?I have an old Honda Accord with a recall issue and now face a costly repair. Should I invest in repairing it, or consider buying a newer car considering I have upcoming housing expenses and a new job?Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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.

Miriam Neff back on the program. She’s the founder and president of Widow Connection, a ministry dedicated to helping women overcome and thrive after the loss of a husband. She’s also co-author, with her daughter Valerie Neff Hogan, of Wise Women Managing Money. THE IMPORTANCE OF WOMEN UNDERSTANDING FINANCESMiriam Neff discusses the importance of women, including widows and single moms, understanding and managing finances. She emphasizes that women manage over 51% of wealth in the U.S., and this number is growing.Every woman should understand finances, regardless of their marital status.It's crucial to acknowledge that all possessions are God's and manage them accordingly.Knowing the 'why' behind financial management is essential as it aligns with God's purpose. EIGHT HABITS OF WISE WOMEN MANAGING MONEYMiriam Neff outlines eight habits for effective money management, particularly for women who may suddenly find themselves in charge of household finances.1. ACKNOWLEDGE ALL BELONGINGS AS GOD'S: Recognize that everything, including income, housing, and personal belongings, are God's resources.2. TAKE RESPONSIBILITY FOR FINANCES: Emphasize the importance of being aware and responsible for personal finances.3. CREATE A SPENDING PLAN BASED ON INCOME AND VALUES: Develop a budget that reflects income and aligns with personal and spiritual values.4. CONSIDER THE HEART'S ATTITUDE TOWARDS MONEY: Reflect on personal attitudes and priorities regarding money to ensure they align with biblical teachings.5. AVOID EXCUSES IN FINANCIAL MANAGEMENT: Resist justifying poor financial decisions and take personal responsibility for money management.6. TAKE PERSONAL RESPONSIBILITY: Acknowledge personal control over financial decisions and resist blaming circumstances or others.7. REGULARLY REVIEW AND ADJUST FINANCIAL PLANS: Continuously reassess and adapt financial plans to accommodate changes such as inflation.8. INVEST IN KINGDOM PURPOSES: Encourage investing in projects that have eternal value and contribute to God's work.Miriam stresses the importance of these habits not only for financial stability but also for aligning your financial decisions with your faith and values. STICKING TO THESE HABITS: RemindersAccountability partnerAvoid giving detailed information ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I own some collectible coins for over 20 years, including slab coins and rare pennies; when is a good time to sell these, and do they fluctuate like the equities market?I've retired and have a rollover IRA worth $119,000 and a Roth IRA worth $11,000; should I consider withdrawing from my IRA to pay off a $40,000 roof replacement loan with a 10% interest rate?I bought property a few years ago intending to give it to my son, who built and sold a house on it this year; how can I manage the capital gains tax since the property was still in my name at the time of sale? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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.

REFLECTION ON LAST YEAR'S PREDICTIONSBob Doll reflects on his previous year's predictions, noting that while they achieved a 50% accuracy rate, it fell short of their usual 72% mark. The unexpected strength in the economy and labor market, combined with a decrease in inflation, led to deviations from their projections.The economy was stronger than expected, preventing the anticipated recession.Inflation continued to decrease but did not reach the central bank's target of 2%.Stock market valuations increased, particularly for a small group of high-performing stocks. OUTLOOK ON THE US ECONOMY FOR THE UPCOMING YEARBob predicts a mild recession for the upcoming year, citing residual issues from Federal Reserve tightening and an inverted yield curve. He expresses skepticism about the current optimistic outlook for a soft landing in the economy.A mild recession is anticipated due to ongoing economic tightening and yield curve inversion.The labor market remains strong, posing challenges for reducing inflation.A shift from almost unanimous recession expectations to widespread soft landing predictions is observed.10 PREDICTIONS FOR 2024:Bob explains that the ideal 'Goldilocks' scenario of perfect economic balance is unlikely. The predictions for 2024 involve trade-offs between strong earnings growth and low inflation, which are mutually exclusive under current economic conditions. 1. The U.S. economy experiences a mild recession as the unemployment rate rises above 4.5%. 2. The 2-3% inflation ceiling of the 2010s becomes the 2-3% inflation floor of the 2020s. 3. The Fed cuts rates fewer than the six times suggested by the Fed funds futures curve4. Credit spreads widen as interest rates decline.5. Earnings growth falls short of the double-digit percentage consensus expectation.6. Stocks record a new all-time high early in the year, but then experience a fade.7. Energy, Financials and Consumer Staples outperform Utilities, Healthcare and Real Estate.8. Faith-based share of industry AUM rises for the eighth year in a row.9. Geopolitical crosscurrents multiply but have little impact on markets.10. The White House, Senate and House all switch parties in November. THE ONLY THING CERTAIN IS UNCERTAINTYThe main focal point for 2024 is likely to be whether investors enjoy further significant progress on inflation, decent economic growth and double-digit earnings growth. We’re skeptical. Either 1) we get a noticeable slowdown/recession and earnings fall short, or 2) double-digit earnings growth materializes, probably requiring stronger economic growth, less progress (if any) on inflation and a Fed that is boxed in. The long-predicted recession will likely materialize in 2024, although it most likely will be brief and shallow. Also, after the largest growth in the money supply since WWII (due to COVID), we’re now experiencing the biggest decline since the 1930s. Can a productivity boom rescue the U.S. via AI, automation and robotics? Only time will tell. We expect the 2023 momentum and Fed cut euphoria to fade early in the new year, resulting in lackluster earnings growth and downside risk to equities as 2024 unfolds. At some point, the political dysfunction in Washington, D.C., and record non-recession, non-war deficits will pile up even as interest expense takes an even larger share of ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I purchased a $10,000 I bond back in October 2022 with high rates; should I keep it for a few years and continue investing in it or consider liquidating it?As a truck driver, I spend a lot of time on the road and I'm considering selling my mobile home, which is on rented property, to invest in a piece of land or another home.My wife and I each have an IRA worth about $200,000, and with potential tax rate changes in 2026 and our increasing income due to delayed Social Security benefits, should we consider converting our IRAs to Roths? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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.

INFLATION “FELL”?There’s something you need to understand about the inflation numbers you hear in the news, such as, “Inflation fell to 3.2% last month on an annualized basis.” Some folks think that means prices went down, but it really only means that the rate of price increases has gone down. INFLATION'S PERMANENT PRICE INCREASES:A decrease in inflation rate means slower price increase, not price reduction.Even if inflation drops to zero, the high prices from past inflation remain. WAGE GROWTH NOT KEEPING UP WITH INFLATION:A significant portion of workers report their wages haven't kept up with inflation, leading to financial strain.Many Americans have used their savings or resorted to credit card use due to the discrepancy between income and rising costs.To cope with financial strain, it's essential to adjust one's lifestyle and budget, potentially including major changes like downsizing.IMMEDIATE COST-CUTTING STRATEGIES:Freeze credit cards literally to curb impulse spending.Remove saved credit card information from online accounts to prevent easy online purchases.Utilize cash for daily expenses to control spending and potentially save 10% to 30%.Preparing extra meals in advance helps avoid expensive fast food, saving money in the long run.Learn to cut hair at home to save on salon expenses, which can add up significantly over time.Lower the temperature in your water heater. Your water heater accounts for 20% of your monthly electricity cost, and lowering it to 120 could cut you 10% on your bill.So there you have it— ways you can cut back on spending today to counteract inflation. Let us know how it works out. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:My wife and I are financially stable and have discussed retiring early, but we're unsure if we have saved enough; when is it enough to retire comfortably and still give to the kingdom?Should I aggressively pay off my student loans now or wait and hope for loan forgiveness, considering I work at a nonprofit and am eligible for the Public Service Loan Forgiveness Program?My son is considering cashing out his Roth IRA to pay off a business mortgage; is this a wise decision given the potential penalties and loss of compound growth?My wife is nearing 62, and we're considering whether to take her Social Security benefits early or wait, especially with concerns about potential future Social Security reductions.I'm interested in online high-yield savings accounts and whether they are as beneficial as they claim to be, and I also want to know if canceling unused credit cards or reducing credit limits can affect my credit score. Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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.

WHY ARE BENEFICIARY DESIGNATIONS IMPORTANT?Beneficiary designations are crucial because they're an easy, quick, and free way to transfer assets, accounts, and insurance benefits after passing away. They take precedence over wills or trusts and are significant because they skip probate and remain private.Beneficiary designations offer a straightforward method to transfer assets after death.They are prioritized over estate planning documents and bypass the probate process.Keeping them updated and accurate is crucial for ensuring assets are distributed as intended. WHAT ARE THE KEYS TO REMEMBER ABOUT DESIGNATING BENEFICIARIES?When designating beneficiaries, it's important to consider various account types like IRAs, 401(k)s, life insurance policies, and regularly update these designations. Ensure that primary and contingent beneficiaries are named and understand the implications of each type. It's also vital to coordinate with your will or trust and consider the potential uneven growth of different assets.Review and update beneficiary designations across different accounts regularly.Distinguish between primary and contingent beneficiaries and understand their roles.Coordinate beneficiary designations with your will or trust to ensure your estate plan reflects your wishes. IS THERE EVER A REASON NOT TO DESIGNATE BENEFICIARIES?Generally, there's no good reason to avoid designating beneficiaries. Not doing so can lead to confusion, interpretation by others, or court decisions. Ideally, it's better to name a specific person rather than leaving it to documents or courts.It's always advisable to designate beneficiaries to avoid leaving asset distribution open to interpretation.Designating specific individuals as beneficiaries is preferable to relying on estate documents or courts.Regular updates to beneficiary designations are essential to maintain clarity in estate planning. WHAT ARE COMMON MISTAKES IN HANDLING BENEFICIARY DESIGNATIONS?A common mistake is the "set it and forget it" approach, where individuals fail to regularly update their beneficiary designations. This oversight can lead to outdated or unintended distributions of assets.Regularly revisiting and updating beneficiary designations is crucial to reflect current intentions.Ignoring the need for updates can result in unintended or outdated asset distribution.Coordinating beneficiary designations with overall estate plans ensures consistency and fulfills intended wishes. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I'm curious about tax lien auctions; if I purchase a property with a tax lien and the original owner doesn't reclaim it, am I responsible for the existing mortgage?As a retiree, I'm considering using $10,000 annually from my $200,000 retirement fund for family vacations; is this a wise decision?I'm at full retirement age, receiving Social Security while working full-time; I wonder how my continued employment will affect my future Social Security benefits.Next year, when I turn 60, I plan to start drawing Social Security; I'm concerned about the earnings limit and how it affects my benefits.We have an adjustable-rate mortgage; with current high rates, should we consider refinancing or stick with our current mortgage? RESOURCES MENTIONED:Find a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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 earth is the Lord’s and all that is in it, the world, and those who live in it, for he has founded it on the seas and established it on the rivers.” Psalm 24:1-2: Mark Regier is Vice President of Stewardship Investing at Praxis Mutual Funds. WHAT IS STEWARDSHIP INVESTING AND HOW DOES IT INCORPORATE CREATION CARE?Stewardship investing is an approach rooted in biblical principles, emphasizing responsibility and management of all that God has entrusted to us. It involves recognizing God's ownership over everything and managing resources wisely and according to His wishes. This philosophy extends to caring for our neighbors, seeking justice, peace, and importantly, caring for the world God created.Stewardship investing is about managing resources as God's stewards, recognizing His ownership.The approach involves investing responsibly and ethically, integrating care for neighbors and the environment.It emphasizes investing in ways that do not harm the world but seek to improve it, aligning with biblical stewardship. HOW CAN INVESTMENT MANAGERS SUPPORT CREATION CARE?Investment managers can support creation care through various strategies, including investing in green and social bonds, engaging in shareholder advocacy, and community investing. Green and social bonds finance projects with positive environmental or social impacts. Shareholder advocacy involves using shareholder power to influence corporate behavior towards more sustainable practices. Community investing directs funds to help marginalized communities adapt to a changing climate and embrace emerging technologies.Investing in green and social bonds that finance environmentally friendly projects.Engaging in shareholder advocacy to influence corporate policies and practices.Community investing to support marginalized groups affected by environmental changes. WHAT IS GREENWASHING AND HOW CAN INVESTORS AVOID IT?Greenwashing is when companies or funds claim to be more environmentally friendly or engaged in sustainable practices than they actually are. It's important for investors to research and verify these claims. To avoid greenwashing, investors should look deeply into company or fund activities, visit their websites for environmental reports, understand the information's source, and consider the company's willingness to discuss and address environmental issues. Transparency and evidence of genuine sustainable practices are key to discerning genuine efforts from greenwashing.Greenwashing is misleading claims about environmental practices or benefits.Investors should research and verify environmental claims made by companies or funds.Looking at a company's actual environmental policies, actions, and willingness to engage in discussions about sustainability can help avoid greenwashing. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I live on a fixed income of less than $1,000 a month and want to tithe. Should I adjust my expenses to give 10% or is it more about the condition of my heart when it comes to giving?I have a CD maturing and I'm considering locking into a longer term at a higher interest rate. Is it advisable to lock in for a longer term, like 4.75% for five years? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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.

Art Rainer is Director of the Institute for Christian Financial Health, which administers the Certified Christian Financial Counselor program. WHAT DO CHRISTIAN FINANCIAL COUNSELORS DO?Christian financial counselors aim to integrate God's design into financial decisions. They guide individuals and couples through making wise financial choices, establishing healthy financial habits, and increasing biblical and financial literacy.They help you understand and pursue God's design for money.They guide you in wise decision-making and developing sound financial habits.They increase your understanding of both biblical and financial principles. WHO NEEDS A CHRISTIAN FINANCIAL COUNSELOR?We actually have a list of signs that may indicate you would benefit from a Christian Financial Counselor:1. Your finances feel out of control. Your finances feel like one big mess. Every month, you are just flying by the seat of your pants. There is no direction, only disorganization. And it stresses you out. You know something must change. A Christian Financial Counselor can help make sense of the mess. They can help you develop financial goals and organize your finances. 2. You need to know what financial step to take next. It feels like you are, financially, just existing. There seems to be no progress in your finances. This is mainly because you have yet to learn what progress looks like. A Christian Financial Counselor can look at your financial situation and suggest wise next steps.3. You need help creating and maintaining a budget. Most of us know that budgeting is a good idea. However, many don’t know how to craft a reasonable budget or have struggled to stick with one. This is one of the top reasons individuals and couples seek out a Christian Financial Counselor. A Christian Financial Counselor educates clients on how to craft a budget and keeps them on track.3. You are loaded with debt. The Bible says that debt is a burden. Anyone who has carried debt would agree with this. And as time goes on, the burden of debt feels heavier. A Christian Financial Counselor will review a client’s debt and craft a debt payoff plan. Having this plan in place and providing regular check-ins motivate clients to pay off debt more quickly.4. You are regularly arguing about money with your spouse. God designed married couples to operate as one, even in finances. And you want this, but you need help to get on the same financial page with your spouse. Money is not a point of unity but a point of division. A Christian Financial Counselor can help a couple get on the same financial page. They can help couples understand one another money personality and how their past experiences with money are influencing their decisions today.5. You need accountability. You know what to do, but this knowledge only sometimes leads to the right action. You are still tempted to spend money you should save. You still give out of your leftovers. You still add to the credit card balance. Regular meetings with a Christian Financial Counselor can create accountability around your finances. Those feeling overwhelmed or disorganized with their finances might consider seeking a Christian financial counselor. Signs include feeling out of control, struggling with budgeting, being burdened by debt, marital discord over money, or needing accountability in financial matters.WHAT ARE THE COSTS ASSOCIATED WITH CHRISTIAN FINANCIAL COUNSELING?Typically, Christian financial counselors charge an hourly session fee, similar to other counseling services. This investment often leads to significant returns, as clients are more engaged and committed to following the advice given.Most counselors charge an hourly rate, encouraging client commitment.The fees help ensure clients are engaged and complete necessary steps.The return on investment from counseling typically outweighs the cost. WHERE CAN PEOPLE FIND MORE INFORMATION OR SEEK COUNSELING?Visit ChristianFinancialHealth.com. The site offers a directory of certified counselors and information on certification programs. ON TODAY'S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I am in my 70s with term life insurance and substantial debt; is it wise to drop my life insurance to pay off the loans?I've recently upped my company contributions to 10% for my 401k and am considering a Roth option; should I diversify more outside the company for better returns?I own an older car with some issues and high mileage; when does it make sense to drop the comprehensive part of my insurance?I have $100,000 in an annuity nearing the end of its term; should I reinvest it at a fixed rate or look into online CDs for potentially higher returns? RESOURCES MENTIONED:Sound Mind InvestingChristian Financial Health Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we

“If anyone does not provide for his own, and especially for those of his household, he has denied the faith and is worse than an unbeliever.” 1 Timothy 5:8It’s a pleasure to welcome Harlan Accola back to the program. Harlan is with Movement Mortgage, an underwriter of this program. He is also the author of Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement. WHY ARE REVERSE MORTGAGES REFERRED TO AS THE CINDERELLA OF RETIREMENT PLANNING?Reverse mortgages are seen as the Cinderella of retirement planning because they have been underestimated but hold significant potential for aiding in financial stability, especially for widows.These government-insured tools have been marginalized but can provide significant help for those living longer, particularly by offering financial support without the burden of monthly repayments.The concept resonates with the Cinderella story due to its transformative potential and the gradual recognition of its value in the retirement planning space. WHAT IS THE TYPICAL FINANCIAL CONDITION OF MANY WIDOWS?Many widows end up in poverty post their spouse's demise. Currently, 20% of women over 65 are in poverty, and that number is increasing. Half of women over 65 are single.Most live only on social security. 50% live into their 90s, while only 30% of men make it into their nineties. Women are four times more likely to outlive their spouses. 85% of people over 85 are widows. After a spouse's death, income usually decreases by 40% because only one social security check continues. HOW CAN REVERSE MORTGAGES AID?Reverse mortgages can provide financial relief by allowing access to home equity without requiring monthly repayments, thus offering a consistent income stream to manage living expenses and maintain a standard of living. WHAT ARE SOME SPECIFIC WAYS REVERSE MORTGAGES CAN BE USED TO AID WIDOWS?Delaying Social Security: Reverse mortgages can help individuals delay taking Social Security benefits, thereby increasing the eventual payout and providing a larger financial safety net.Long-term Care: It can be used for covering long-term care expenses, often a significant financial burden, without depleting other retirement savings drastically.Increasing Generosity: By alleviating financial strain, reverse mortgages can enable individuals to continue or even increase their charitable giving, as they find more financial flexibility.Provides Peace of Mind: Utilizing a reverse mortgage can offer significant peace of mind by securing a source of income and potentially freeing up resources for other necessary or desired expenses. WHY IS IT CHALLENGING FOR PEOPLE TO UNDERSTAND THE BENEFIT OF REVERSE MORTGAGES?Cultural Perception: Reverse mortgages are often seen negatively due to cultural misconceptions and the general aversion to debt, despite being a unique form of debt with no mandatory monthly payments.Misinformation: There's a lack of understanding and misinformation about how reverse mortgages work, their safety, and their place in a comprehensive retirement plan.Stewardship Aspect: Understanding reverse mortgages as a form of stewardship, using all resources God has provided wisely, including home equity, is crucial but often overlooked in the broader context of financial planning. SUMMARY AND FINAL THOUGHTS ON REVERSE MORTGAGES AND WIDOWSImportance of Protecting Widows: The Bible mentions widows 102 times, indicating God's concern for their wellbeing and the need for society to protect and support them.Safety and Stewardship: Reverse mortgages are seen as the safest form of borrowing, especially important in the stewardship of God's given resources, including the home.Comprehensive Stewardship: Properly using all assets, including home equity, in alignment with biblical wisdom and stewardship principles, is crucial in ensuring the well-being of the surviving spouse and fulfilling God's command to care for widows. ON TODAY’S PROGRAM, ROB ALSO ANSWERS LISTENER QUESTIONS:I recently sold a property and am wondering if it's better to use the proceeds to pay off my investment property or invest in mutual funds?I have some extra money each month and am unsure whether to use it to pay off our mortgage sooner or invest it in a 401k or something similar? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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 f

You won’t find the word “budget” in the Bible, but it does say a lot about stewardship— and budgeting is stewardship. Having a spending plan and sticking to it is the only way to control your money, stay out of debt and gain peace of mind about your finances. When you practice faithful stewardship, you no longer have to worry about your money, because you’ve accepted that it’s God’s money. He owns everything. So budgeting is a key part of stewardship. BIBLICAL BASIS FOR BUDGETINGProverbs 27:23 emphasizes the need to be aware of one's assets: "Know well the condition of your flocks, and give attention to your herds."Proverbs 21:20 contrasts wise and foolish financial behaviors: "Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it." COMMON EXCUSES AGAINST BUDGETINGMath Skills Not Required: With tools like the FaithFi app, anyone can set up a budget quickly, even without strong math skills.Overconfidence in Income: Assuming one doesn't need a budget due to high income can be risky, especially with job market uncertainties.Relying on Unemployment Benefits: Unemployment benefits are often insufficient, highlighting the need for a robust emergency fund.Fear of Reality: Fear or shock of realizing overspending on non-essentials can deter budgeting but recognizing this is the first step to better financial health.Past Failures: Initial difficulties in budgeting are normal; perseverance is key.Complacency with Surplus: Surpluses can diminish over time due to inflation or lifestyle creep, underscoring the need for deliberate saving and spending. BENEFITS OF BUDGETINGLiberation over Limitation: A well-maintained budget is liberating rather than limiting, allowing intentional and wise use of money.Preventive Measure: Budgeting acts as a preventive measure against debt and financial crisis, encouraging early adoption of wise spending habits.Intentional Giving: A budget helps in being more intentional in giving, aligning with the understanding that all resources are God's provision. CONCLUSIONChristians should view budgeting not as a restrictive tool but as a liberating and wise approach to managing finances, aligning with biblical stewardship, and ensuring a more secure and intentional use of God's resources.One financial commentator put it like this: “A budget is like a fence around your money. It protects it from impulse spending. You can still spend money on things you enjoy— as long as you stay on budget.”You can hide behind your budget fence and avoid a great deal of financial danger.ON TODAY’S PROGRAM, ROB ALSO ANSWERS LISTENER QUESTIONS:I own two rental properties and am contemplating whether to sell them to the school district, which offered their appraised value, to pay off debts and possibly invest elsewhere or keep them for rental income in retirement.I'm 63 years old, wondering when the best time to start taking Social Security is, and considering selling my paid-off home in a good location, needing advice on the timing and financial implications of both decisions. Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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 usual “honey-do” jobs are anything but sweet. “Get the oil changed”, “Empty the dishwasher”, and “take the dog to the vet” are a few that come to mind. But if you think about it, these are jobs we do because we love our family, and we want things to go smoothly around the house.God doesn't require good works for salvation; however, they're a necessary, joyful part of living for Christ. Scripture emphasizes the interconnection of faith and works, underscoring that like a body without spirit is dead, so is faith without works. SCRIPTURE INSIGHTS:James 2: Faith apart from works is dead.Ephesians 2:10: We are God's workmanship, created in Christ Jesus for good works.John 11:25: Believing in Christ is the foundational work of God.2 Corinthians 9:8: God will provide all you need to abound in every good work. LIVING OUT FAITH THROUGH GOOD WORKS: Embrace your responsibilities in God's family to keep things running smoothly and to spread God's love. Understand that God has already prepared specific good works for you. To discover these works:Foster a right relationship with Jesus.Engage in prayer and scripture reading to discern God's will.Trust that God will provide the necessary resources, time, and energy. FINANCIAL STEWARDSHIP AND GOOD WORKS:Consider good works as part of your spiritual budget, protecting you from missing out on God's blessings and joy. Be proactive in identifying and undertaking the good works God has prepared for you, whether it's meeting a financial need, volunteering your time and skills, or sharing your faith. ENCOURAGEMENT AND ASSURANCE:Even if you're unsure or intimidated by the good works God has for you, remember He provides and guides. Your commitment to doing these works reflects your faith and can lead to a more fulfilled and impactful Christian life. Seek opportunities for generosity and be open to God's leading in every area of your life.You can hide behind your budget fence and avoid a great deal of financial danger. ON TODAY’S PROGRAM, ROB ALSO ANSWERS LISTENER QUESTIONS:I own my home with a mortgage set to be paid off in 2039 and have the means to pay it off now, but my attorney advised against it, and I'm unsure what to do.I'm considering closing my long-held Disney credit card due to a shift in values and am concerned about how it will affect my credit score, especially with a possible vehicle purchase ahead.As a 60-year-old single woman raising three minor children with some savings, I need advice on investing to grow my money, particularly as my part-time income won't last forever.How can I locate my previous 401(k)s after learning my former employer switched their 401(k) plan provider, and I'm unsure how to track it down? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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 ISSUE OF IDENTITY & BIBLICAL PERSPECTIVE:In today's culture, there's pressure to define ourselves by worldly standards, but for Christians, true identity is found in Jesus, not in worldly achievements or possessions.John 1:12 says: But to all who did receive him, who believed in his name, he gave the right to become children of God.DANGERS OF WORLDLY IDENTITY & SPIRITUAL PITFALLS:Focusing on wealth or success can lead to pride, envy, constant comparison, worry about finances, and disillusionment, as these pursuits never truly satisfy.Letting money or success define us can make us believe our worth is tied to our work, income, or spending, leading to a lack of peace and misguided identity. SCRIPTURAL GUIDANCE:Galatians 3:28 and Colossians 1:27 teach that our identity in Christ transcends worldly measures like job status or wealth; our true value is rooted in being made right with God through Jesus.LIVING IN — AND OVERCOMING — A BROKEN WORLD:Despite our identity in Christ, we still face challenges due to living in a broken world, but God continually calls us back to Him, reminding us of our true identity. As children of God, we can rely on Him for provision, help, and peace, free from fear and guilt, supported by the community of believers and empowered by the Holy Spirit. ETERNAL HOPE:If you believe Jesus is the son of God, and acknowledge his work on the cross saves you from sin, your identity is secure as a child of God, forgiven and free. Your hope is eternal, and your inheritance in Christ will last forever. If you want the full story, read Romans 7 and 8! ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I have a life insurance policy with a critical illness rider in my 50s; should I keep it or change it to a non-rider policy?What data or information are economists using to predict that home interest rates might drop over the next year?I heard about switching from a savings account to a CD with a higher interest rate at Wells Fargo Bank; should I make this switch?I'm retired and considering using part of my $500,000 deferred comp to pay off my $84,000 mortgage, but I'm concerned about the tax implications; also, should I invest this money differently? RESOURCES MENTIONED:Bankrate.com (for comparing interest rates on savings accounts and CDs) Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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.

UNDERSTANDING THE PROFESSIONAL LANDSCAPE:Tax preparers are typically CPAs (Certified Public Accountants), Enrolled Agents, or specialized attorneys. CPAs have more stringent requirements than Enrolled Agents.There's a shortage of CPAs and Enrolled Agents, leading to firms hiring high school interns at competitive rates to encourage CPA careers.Due to professional shortages, there's a risk of encountering unscrupulous tax preparers, potentially leading to scams like refund fraud and identity theft. SAFEGUARDS AGAINST FRAUD:Seek preparers available year-round, especially useful in case of audits.Verify the preparer’s IRS Preparer Tax Identification Number (PTIN) through the IRS directory.Inquire about their professional credentials and continuing education to ensure they're up-to-date with tax laws.Check their professional history via the State Board of Accountancy for CPAs, the IRS for Enrolled Agents, and State Bar Association for attorneys. WARNING SIGNS TO WATCH FOR:Avoid preparers who base fees on refund percentages or boast unusually high refunds.Ensure preparers offer and use IRS e-file; reluctance to e-file can be a red flag.Legitimate preparers will request documents and receipts; be cautious of those who don’t or who offer to file with inadequate documentation, like just a pay stub. KNOWING YOUR RIGHTS & BEST PRACTICES FOR TAX FILERS:Understand that only CPAs, Enrolled Agents, and attorneys can represent you in audits. Non-credentialed preparers, like a numerically skilled relative, cannot offer this representation.Never sign a blank or incomplete tax return.Review and understand your tax return before signing, ensuring refunds are directed to your account. One way you can avoid any potential problem with your tax preparer is to look for a CPA, Enrolled Agent or tax attorney with the Certified Kingdom Advisor designation FaithFi.com. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I've been with a broker for 10 years and am concerned about unknowingly investing in companies that don't align with Christian values; how can we identify these companies and make faith-based investment choices?I'm retiring soon and under an old pension plan; should I take my pension to pay off debts or roll it into an IRA and pay off debts gradually?I have the opportunity to buy a two-acre parcel with two old trailers across from my house, but it's overpriced and would require a HELOC; is this a good financial decision?Living in Cook County, I found my house was over-assessed and doesn’t have a basement or attic as claimed; I appealed, but it was rejected because the market value assessment remains high – what should I do next?RESOURCES MENTIONED: FaithFi.com/show (for a list of faith-based investment firms)Find a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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.

GOD'S WORD ON PAYING DEBTS:Proverbs 3:27 emphasizes the importance of paying back debts on time: "Do not withhold good from those to whom it is due, when it is in your power to do it."DEFINING GOOD CREDIT SCORES:FICO scores range from 300 to 850, with a good score between 670 and 739.A very good score is between 740 and 799, and excellent is 800 to 850.Higher credit scores result in better interest rate offers from lenders.IMPACT OF CREDIT SCORE ON LOANS AND INTEREST RATES:A higher credit score (740+) can significantly reduce interest rates on mortgages, personal loans, and credit cards.Example: Raising a credit score by 100 points (from 640 to 740) can save around $72,000 in interest over a 30-year $300,000 mortgage.A better credit score can also reduce interest rates on a $5,000 personal loan and credit card balances, saving substantial amounts over time. ADDITIONAL BENEFITS OF A HIGH CREDIT SCORE:Higher credit scores can lead to lower home and auto insurance premiums.Employers may use credit scores in hiring decisions, potentially affecting job opportunities and income. HOW TO IMPROVE YOUR CREDIT SCORE:Pay all bills on time and keep credit card balances below 30% of available credit.Build a credit history with a secured credit card, using it for routine expenses and paying off the balance in full each month. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I'm 66 years old and disabled, receiving Social Security. I have only $15,000 to sustain the rest of my life and am looking for advice on how to manage this situation effectively.I have a pension and a 403B from my W-2 income, and I contribute to a SEP from my self-employment income. Should I continue matching my employer's after-tax contributions to the pension plan, or would it be better to invest elsewhere?What's your opinion on structured notes as a part of a well-diversified investment portfolio, especially ones backed by mortgages, considering they can be complex and have varying maturity lengths? RESOURCES MENTIONED:Find a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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.

WHAT HAVE YOU LEARNED FROM YEARS OF EXPERIENCE IN BUDGETING SOFTWARE DEVELOPMENT?Perspective is key in creating and adhering to a budget.Budgeting is often viewed as a necessary but challenging task, similar to a diet.Success in budgeting hinges on understanding the 'why' behind it.Differentiating between your financial goals (what you want to do) and the underlying reasons (why you're doing it) is crucial. AS BELIEVERS, WHAT SHOULD OUR 'WHY' BE IN BUDGETING?Our 'why' should align with scriptural teachings, recognizing God's ownership over everything.Believers should form their own 'why' statements, reflecting a commitment to stewardship based on biblical principles. WHY IS IT IMPORTANT TO START WITH GOD AS OWNER IN BUDGETING AND MONEY MANAGEMENT?Acknowledging God as the owner defines our role as stewards, influencing our financial choices.Seeing ourselves as managers under God's ownership leads to more thoughtful and responsible decision-making. RECOGNIZING GOD AS AN ACTIVE OWNER IN BUDGETING:A passive owner is uninvolved, while an active owner like the Holy Spirit seeks to guide our financial decisions.Recognizing God as an active owner encourages us to seek His wisdom and alleviates the burden of solo decision-making.This perspective leads us to view our financial decisions as part of our stewardship role.It encourages reliance on God for guidance in managing finances, reducing stress and guesswork. HOW DOES THIS UNDERSTANDING RELATE TO BUDGETING PRACTICALLY?Budgeting becomes a tool for stewarding God's resources, rather than just a financial exercise.Understanding our stewardship role enhances commitment to and effectiveness in budgeting. HOW CAN THE FAITH FI APP PRACTICALLY HELP IN MANAGING MONEY?The app provides various systems to fit individual money management styles.It serves as a supportive tool for effective stewardship, adaptable to personal needs.The Faith Fi app is designed to meet diverse financial personalities and challenges.Support from Christian financial counselors and resources is available to overcome past barriers.The app features a digital version of the traditional envelope budgeting system.It allows for carrying forward balances in different categories for planned expenses. HOW CAN MARRIED COUPLES USE THE APP EFFECTIVELY TOGETHER?The app promotes joint financial management, improving communication and decision-making.It helps couples align on stewardship goals, reducing money-related conflicts. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I'm in my 60s and worried about our investments in the stock market after losing money. Should we keep our money there or move it to a safer place due to our age and market uncertainty?I'm looking to get out of credit card debt and have contacted Christian credit counselors, but they don't service Kansas. I'm considering a company that offers to pay back less than what I owe through negotiation, but I'm unsure if this is the right approach. RESOURCES MENTIONED:Christian Credit CounselorsFind a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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.

NEW YEAR'S RESOLUTIONS:A survey of 2,000 people highlights common resolutions: diet (71%), exercise more (65%), save more/spend less (32%), learn a new skill, quit smoking, find a new job, and spend time with family and friends.These resolutions are often hard to keep due to requiring significant lifestyle changes. THE IMPORTANCE OF CHRISTIAN RESOLUTIONS:For Christians, resolutions should prioritize God's will and honor Him.Success in resolutions is more likely when they align with God's will.Examples of Christian resolutions include seeking God's guidance for resolutions and praying for wisdom and strength. SCRIPTURAL GUIDANCE:James 1:5 encourages seeking God's wisdom: "If any of you lacks wisdom, you should ask God, who gives generously to all without finding fault, and it will be given to you."Philippians 4:13 emphasizes reliance on Christ: "I can do all things through Christ who strengthens me."Matthew 6:5 warns against hypocritical actions: "When you pray, you must not be like the hypocrites...that they may be seen by others. Truly, I say to you, they have received their reward."Ephesians 2:10 underscores living for God's purpose: "For we are his workmanship, created in Christ Jesus for good works, which God prepared beforehand, that we should walk in them." PRACTICAL APPLICATIONS:Be accountable to others for resolution adherence.Avoid taking personal credit for successes, recognizing God's empowerment.Include spiritual resolutions like reading the Bible, praying more, and giving to the church.Ensure motivations for spiritual resolutions are to honor God, not for self-aggrandizement.It’s only January 1. You still have time to make a few more resolutions that honor God and seek his help in keeping all the rest! ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I want to refinish our basement and put in a beauty salon, but we don't have much money; should I use a line of credit, and what are my best options for financing?I'm recently retired and concerned about the reliability of Ally, where I've opened a Roth IRA; should I move my funds to a different institution?As we prepare for our elderly parents' future, what type of insurance should we purchase to cover burial expenses, especially if they wish to be buried in their home country?We sold a pickup truck; should I tithe on the proceeds from this sale? RESOURCES MENTIONED:Small Business Loan Program (SBA 7(a) loan)FidelitySchwab Intelligent PortfoliosSound Mind InvestingEventide Funds Guidestone FundsPraxis Funds Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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 following is an encore presentation from 2023.Tithing is fairly simple in your working years. Your only decision is whether to tithe on your net or gross income. But tithing becomes a bit more complicated when you retire. So we’re bringing in an expert to help simplify things today on Faith and Finance. Anthony Saffer is a Certified Financial Planner with One Degree Advisorswhere they’ve put together a handy resource to help you decide how to tithe in retirement.WHY TITHE? Let’s start by laying the biblical foundation for tithing because some folks will argue that Christians today are no longer under that law.Tthing is an act of worship that demonstrates trust and obedience to God. Key biblical verses to study include, Genesis 14:20, Hebrews 7:4-10, Leviticus 27:30-32, Luke 11:42, and Malachi 3:8-10.The practice of tithing, as introduced in Genesis 14 precedes God’s law given to Moses to guide Israel. Hebrews 7 of the New Testament refers to the event of Abraham tithing to the Priest and King, Melchizedek.Jesus refers to tithing in Luke 11:42, admonishing the religious leaders who are meticulously calculating their tithe while neglecting love, mercy, and compassion.WHY IS TITHING EASIER DURING YOUR WORKING YEARS? Tithing, which literally means a “tenth,” is often simple to calculate from working income. If someone earns $10,000, a tenth would be $1,000.You may question whether you should calculate the tithe from gross (before-tax) or net (after-tax) income. You’ll need to make this personal decision; although, the “first fruits” principle (Leviticus 23:10, 2 Chronicles 31:5), would seem to support tithing prior to paying the government.In either case, this is an easy calculation by applying 10% to an income amount.Many retirees choose to tithe similarly to how they did in their working years. They simply tithe on whatever income they receive. This can be a simple solution.WHEN TITHING IN RETIREMENT SEEMS MORE COMPLICATEDQuestions often arise among retirees about how to tithe in retirement. This is usually because income sources can vary in timing and composition.Specifically, many retirement income sources feature some return of principal (contributions) combined with growth or earnings. This feature is not common during working years.And while we probably have only one income source while working, that’s often not the case in retirement. There are five common income sources for those who tithe in retirement. Let’s look at common retirement income sources that feature a return of principal and how this can cause confusion when you tithe in retirement:1. Social Security.During your working years, you pay payroll taxes into Social Security to receive an income stream in retirement. A benefits statement obtained from the Social Security Administration website lists how much you have paid into Social Security during your working years.Now you have to decide whether to tithe (again) on the return of principal with each payment.2. A pension.If your employer’s pension plan pays you a retirement income stream, similar considerations to Social Security apply. In this case, you would need to see how much, if any, you contributed to your benefit.3. Retirement accounts. Here’s an example: Let’s assume a retiree owns an IRA valued at $1,000,000. ($250,000 of principal and $750,000 of growth)Many years of working income contributed to the $250,000 of principal. Should that reitree tithe (again) on this principal amount when withdrawals are made?4. Brokerage investment accounts. The government taxes most dividends, interest, and capital gains as yearly income. Some retirees may choose to tithe on this taxable income since it shows up on their tax return.However, the dividends, interest, and capital gains that investment accounts earn usually stay inside the account until later distribution. So you must decide if you’ll tithe on the earnings not yet distributed, and possibly tax-free income that doesn’t show up on the tax return. You could also treat this type of account like an IRA, considering it has both a principal component (what you contribute) and earnings growth.5. Rental properties.Expenses are generally ongoing with real estate even while earning rental income. So, should you tithe from the gross rents received or from the net rents received after paying expenses?Then, of course, how to tithe on the eventual sale of that property is another decision, likely calculated on the gain above the purchase price.SIMPLIFYING THE PROCESSFortunately, there’s a way to make this simpler.You have two options for calculating an appropriate tithe in retirement, one simple, the other more complicated. But before personally deciding how to tithe in retirement, it can be helpful to note your priorities.Are you aiming to keep things simple? Are you willing to apply more detailed calculations to minimize tithing on the principal? In that case, you want the simple option, tithing on the total income you receive.In that case, you t

The following is an encore presentation from 2023.Chad Clark is Executive Director here at FaithFi. WHERE DOES STEWARDSHIP BEGIN?Start by envisioning a target with three rings. When we think about stewardship we need to start in the inner circle, the bullseye, which is our heart.At the heart of a good and faithful steward you will find a love and devotion to Christ. Really, it’s our identity that is found in Christ as Galatians 2:20 points out “It is no longer I who live but Christ who lives in me”.This is contrary to the world, which is focused on self. When we think of what it means to be a good and faithful steward we must start with Christ and resist the temptation to put ourselves at the center.DOERS OF THE WORDThe outermost ring of this target is APPLICATION.We are in the world but not of the world. We still have bills to pay, and financial decisions to make, but when we make decisions from the inside out, we recognize that God is the owner of everything and our role as stewards is simply to glorify Him with what he has entrusted to us.We built the FaithFi app with this application layer in mind. It’s a great tool to help you better understand how you are stewarding God’s resources. You can connect your bank accounts, manage your income and expenses, and better understand the financial decisions you need to make.On this program, Rob also answers listener questions: What kind of tax liability might apply to an inheritance?How can you begin building business credit for a relatively young company?What is the wisest way to begin saving and investing for a grandchild?If you use money from a 401k for a downpayment on a home, is that money taxable?RESOURCES MENTIONED:BettermentSchwab Intelligent Portfolios Remember, you can call in to ask your questions most days at (800) 525-7000. Also, visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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 following is an encore presentation from 2023.Shaunti Feldhahn is a relationship expert and the author of several very helpful books about marriage, including Thriving in Love and Money.There’s a saying about marriage: “When money troubles come in the door, love goes out the window.” But Shaunti has 3 steps for couples to keep that from happening. 3 STEPS TO ERASE TO AVOID FINANCIAL TENSION IN YOUR MARRIAGE1. ENSURE MARGIN: Make sure you have a cushion — some margin in your budget and finances. The Feldhahns conducted a three-year study involving a couple-thousand people. They found that no matter the income level, it wasn’t the topline income number that mattered. The key to avoiding tension was to spend less than they took in. This was true across all demographics. You’ve got to have a cushion to be able to make that car repair or whatever life throws your way. It’s great stewardship and helps keep you out of debt and bondage. But as it turns out, it’s not just protective of your finances, but of your relationship as well. 2. COMMUNICATE: You have to be able to talk to your spouse about money. It can't just be a one-person thing. It must be BOTH of you, and you have to be able to openly and honestly communicate about money. Communication really is the secret weapon. Most couples have trouble communicating about money. It’s a very common problem. But the Feldhahns found in their research that communication even trumps having a financial cushion or having the perfect budget. If you can talk about money, even if the technical stuff isn't perfect, you are far more likely to avoid tension and resentment. So start opening those lines of communication! It’s vital! 3. BUILD AWARENESS: You have to understand what's going on underneath the surface and how you and how your spouse respond to money. Shaunti explains that if there is tension around money in your marriage, it’s not really about the money. It’s about how money makes you feel, and how it makes your spouse feel. It’s about all of the insecurities and worries and beliefs about how money should work that are running under the surface. And we have two different sets of those. On today’s program, Rob also answers listener questions: What are a couple of good options for online banking?How do you determine whether you should roll over an IRA? RESOURCES MENTIONED:Ally BankCapital One 360 CheckingMarcus Remember, you can call in to ask your questions most days at (800) 525-7000. Also, visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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 following is an encore presentation from 2023.God’s Word contains dozens of verses about repaying debt, but usually from the perspective of owing it to others. Another example of this is Ecclesiastes 5:5. It reads, “It is better that you should not vow than that you should vow and not pay.”We have to dig a little deeper to discern God’s will for us when someone owes us money, but one thing is very clear - the Lord expects us to act differently than the world.For one thing, if the one who owes you is a fellow believer, you should never sue to recover that money. Paul says this in no uncertain terms. In 1 Corinthians 6:6-7 he writes, “But brother goes to law against brother, and that before unbelievers? To have lawsuits at all with one another is already a defeat for you. Why not rather suffer wrong? Why not rather be defrauded?”Of course, this applies only if the person owing you money is a fellow believer. The Bible doesn’t say that you can’t sue someone outside the church. If you own a business, you may someday be forced to take someone to court for non-payment, simply to keep your business going.That’s not to say you have no recourse within the church. If someone rightfully owes you money and doesn’t pay, there’s a four-step process for reconciling the issue.First is to put the matter into perspective. You shouldn’t be surprised if another believer attempts to defraud you. Romans 3:23 reads, “For all have sinned and fall short of the glory of God.”With that in mind, consider how Jesus treated sinners, with kindness and patience. Avoid confrontation. A good way to do that is by praying for the one who owes you money. You might say to God: “Heavenly Father, I lift this person up to you and put this situation in your hands. Please give me wisdom. Please bless this person financially so they will never feel the need to borrow in the future. Your ways are not our ways. Please use this situation to give glory to You and guide my steps. Help me act as Christ would, showing mercy, that others might see and be drawn to you In Jesus’ name, Amen.”The next step is to meet with the person who owes you money. In Matthew 18:15 Jesus says, “If your brother sins against you, go and tell him his fault, between you and him alone. If they listen to you, you have won them over.” That means keeping the matter private for now. Don’t grouse about it to your spouse or friends and certainly not on social media.The idea is to show respect for the other person so their heart might be softened. The real goal is reconciliation. Getting what you’re owed is secondary. Be willing from the outset to forgo payment if need be.If meeting privately with the person doesn’t work, step three is to take other Christians with you for another meeting. Jesus goes on to say in verses 16 and 17: “If they will not listen, take one or two others along, so that “every matter may be established by the testimony of two or three witnesses.” If they still refuse to listen, tell it to the church; and if they refuse to listen even to the church, treat them as you would a pagan or a tax collector.Now, that seems pretty drastic, but we’re entering the realm of church discipline. It’s important to understand that this isn’t to punish the individual, but to help him or her see the error of their ways, repent, and make good.If this person rightfully owes you money and refuses to pay, it’s a sin and the Church needs to deal with it. Just as with adultery or any other type of public sin, the Church must exercise proper discipline or it ceases to honor God. If the offender refuses to repent, Jesus Himself says they should be treated as an unbeliever.And finally, step four. You must continue to show humility, respect and love for the offender. You must remember that you represent Christ and that you trust Him for the outcome.People are watching you. Think of the situation not as a win/lose proposition, but as an opportunity to express the love of Christ in a difficult situation. As believers, we should be better than the world at resolving conflict.Pray that the Holy Spirit will show His power through this process, that God’s will should be accomplished through you, whether you’re paid or not. Either way, you must forgive that person, as Christ has forgiven you.Mark 11:25 reads, “And whenever you stand praying, forgive, if you have anything against anyone, so that your Father also who is in heaven may forgive your trespasses.”Next, Rob answers these questions at 800-525-7000 or via email at [email protected]:Should you stay in a 40-60 stock to bond allocation if your IRA is down about 13% since the beginning of 2022, you are age 70 are now claiming your maximized Social Security benefit and therefore don't need to draw on your portfolio?Will there be a decline in housing prices over the next few years and how should you navigate a home purchase with an FHA loan?If you are age 70 and retiring this year, should you reallocate your $300,000 Thrift Savings Plan from t

The following is an encore presentation from 2023.April is just 72 hours away and it’s one of our favorite months of the year. That’s because April is Financial Literacy Month. This event began some two decades ago to raise awareness about the critical need for financial literacy. It’s just as important as learning to read and write. We’ll talk about that on Faith and Finance. It’s not quite April yet, but we want to give you a head start on gaining financial literacy. It’s important, because if you don’t know how to set up a budget, handle credit cards responsibly, or figure out how much car or house you can afford— you’ll run into all sorts of trouble.And guess what? Financial literacy is just another way of knowing and following God’s financial principles for earning and saving money.Now, a recent article in the Wall Street Journal laid out six practical things you need to know to be financially literate, so let’s go over them one by one.6 THINGS YOU MUST KNOW1. The power of compound interest and how it works and that it can work for you, or against you. When you save, your interest is “compounded.” That means at some point, it’s added to your principal, making it larger. You’re then paid more interest on your larger balance, and so on. The earlier you start saving, the more time your balance has to grow at an ever-accelerating rate.Here’s an example: Let’s say you’re 20 and you invest $5,000 a year for 10 years, and then stop. Over the next 30 years, at an annual return of 7%, your balance will be $600,000.But if you wait until age 30 to start, and invest the same $5,000 a year for the next 30 years, do you think you’ll have more? Nope. Your balance will only be $540,000. So the earlier you start, the better off you’ll be.By the way, we said compound interest can work against you, too. If you use a credit card and don’t pay it off each month, the interest is added to your balance, meaning you’ll owe even more.2. So-called “good debt.” This is debt you take on with a reasonable expectation that the return you’ll get will be more than what you have to pay in principal and interest.Some examples would be borrowing to start a business, if you expect that your revenues for the business will be enough to cover the loan and give you enough to live on.Buying a house would fall into the category of good debt, because in most years, homes appreciate in value. A student loan, also, because if you finish with a degree that gives you marketable skills, you can reasonably expect to earn more than the loan will cost you, but be careful to borrow as little as possible for education. Far better to save for it ahead of time, again using compound interest in your favor, like with a 529 education savings plan.On the “outside edge” of good debt could be a car loan, if you need it for transportation to a job. But make as big a downpayment as possible and continue to save when the loan is paid off so you can eventually buy a car with “all cash.”3. Credit utilization rate. That’s how much credit you have versus what you owe, as spelled out in your credit report, which affects your credit score. You should never owe more than 30% of your available credit because it will lower your score, resulting in having to pay a higher interest rate if you need another loan.4. “Pay yourself first.” This simply means that you should put something into savings each pay period before you spend any money. Set up an automatic transfer from your checking account into savings, and let the bank do the work for you.5. Diversification. This is another of God’s financial principles. Ecclesiastes 11:2 says, “Give a portion to seven, or even to eight, for you know not what disaster may happen on earth.” It means to divide your investments among different stocks, mutual funds, bonds and other securities. Don’t put all of your eggs in one basket.You can also diversify your assets for tax purposes. For example, contribute to your employer’s 401k or 403b with pre-tax money, but also open a Roth IRA and invest after-tax money in it. It’s great to have something in each bucket if you can do it.6. Liquidity. All that means is that you can get to your money when you need it. If that sounds like an emergency fund, you’re exactly right. Your retirement accounts and even CDs and money markets are not the place to keep funds that you may need at a moment’s notice.Keep at least 3 to 6 months of living expenses in a savings account at an online bank to get the best interest possible on your liquid funds. If you have an unforeseen medical condition, lose your job, or total the car, you can get to that money in a hurry.On this program, Rob also answers listener questions: Is it wise to use an accelerated mortgage payoff system?How do you determine when it is wise to sell multiple properties that you own?Will receiving pension payments affect your Social Security income?Remember, you can call in to ask your questions most days at (800) 525-7000. Also, visit our website

That’s from the Christmas Story in Luke, Chapter 2. The angels announce the coming of the Savior to a group of shepherds. It sounds simple enough … but there’s more to the story. Jerry Bowyer joins us to talk about it. Our guest, Jerry Bowyer, is the author of The Maker Versus the Takers: What Jesus Really Said About Social Justice and Economics. It’s loaded with amazing insights about Jesus' time on earth from an economic perspective. Angels carried probably the most important message in history … why deliver it to shepherds? Weren’t they social outcasts?Shepherds were under social outcasts because they couldn’t keep their sheep from going into their neighbors yard and eat the grass - thereby committing theft against your neighbor. The Temple system ran on sheep. They used a lot of sheep for the sacrifices. So there was a country set aside for sheep to be raised. This was near Jerusalem. Jesus, the Lamb of God, was born in the city where lambs for the Temple system were bred.So God’s master plan included finance. We know a little more about Mary than we do Joseph at this point. Does she have an economic philosophy?Mary’s song, Magnificat, has words concerning economics about the rich being torn down and set away empty, and the poor being filled.Mary visits Elizabeth in Judea, a little higher society. Elizabeth subordinates herself to Mary, this is a reversal of status.Jesus uses parts of the Magnifcat in one of His sermonsMary was exposed to multiple languages, and had some intellectual teaching/learning. How did the birth of Jesus threaten the ruling temple class in Jerusalem?Herod understands that the birth of Jesus will unset everything and bring justice to the world, and as a tyrant, he was disturbed with this idea.Jesus will ruin many people’s livelihoods, etc moneychangers in the Temple. In Matthew, Chapter 2, the Magi come to worship the baby Jesus and give him very expensive gifts of gold, frankincense and myrrh. What was timely about that?The Magi brought Jesus things that would be brought to the Temple. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS: Anna bought a 2014 Buick. She is currently not making enough money to keep up with the payments and still owe $20,000 and the car is not worth that. She wants to know the options that would be available.Evelyn just sold their home and need to rent for 6 months before buying another home. How should they invest this money from the home sale in the meantime? RESOURCES MENTIONED:FaithFi appEdmunds.comKellyBlueBookBankrate.com Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give as we expand our outreach. 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.

With everything going on in Israel right now why is it important to funnel resources to Lebanon?Because the level of despair in Lebanon is at an historic high. And . . . Because God is working there like never beforeThere is an urgency to this situation - 2.5 million refugees in a country of only 4 million. More per square mile than any place in the worldA collapsed economy - World Bank calling it the worst economic collapse in 150 years. 85% of everyone living there needing aid and 99% of every refugee family looking for their next meal. In the middle of this despair though - - HOPE is rising. I know you have made a number of trips there personally - how have you seen God working in the hearts and lives of the people there. Because of the relational ministry philosophy of Heart for Lebanon, everything they do points to the opportunity to share the Gospel. Lebanon remains the most democratic free society in the middle East. We are free to share the Gospel and More Muslim Cultured people are coming to Christ than at any time in our generation. One of my visits there I meet a refugee family in a farmer’s field. They were displaced in the middle of the night and went on the run. But Heart for Lebanon met with us and shared with us who Christ is and how He came to save them. How can people help today?(JH) $116 helps provide survival essentials AND the Gospel to a poverty stricken child and their family. Go to faithfi.com/lebanonThe website again is faithfi.com/lebanon. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS: Sharon will be done paying for her home mortgage next July. What should she expect?Marie has a received a lump sum for a pension she didn’t realized she had. She’s paid the taxes on it, paid tithe and now wants to know how to best invest it.Cora has money in a high rate savings that was at 3.75% and now is .08%, can we transfer that someplace that is higher?Laura wants to share saving for her 6 grandsons that was not a 529, in case one of them decides not to go to college. RESOURCES MENTIONED: FaithFi.com/Lebanon - Certified Kingdom AdvisorBankrate.comJoinChristianCommunity.com Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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.

So how would God's word in particular give us guidance on this giving portfolio approach?Jesus gives His mission here on earth in Luke 4:18-19 “The Spirit of the Lord is upon me, because he has anointed me to proclaim good news to the poor. He has sent me to proclaim liberty to the captives and recovering of sight to the blind, to set at liberty those who are oppressed to proclaim the year of the Lord's favor.”This is a really is a model for a giving portfolio So how do you take that and apply it to giving?Well, he really talks about 3 categories of giving. God's mercy. People that are in need, poor and needy. The prisoners, basic recovery ministries and just basic human needs like water and food, shelter and those kinds of things.God's justice, the people that have been oppressed, widows, orphans, more the helpless, the victims. God's Word. And as you know here at FaithFi, we encourage you to do your first giving to the local church, but then also to other evangelism and discipleship ministries.I love that the ministry of God's mercy, God's justice in God's word. So those are the key themes from God's word. But now we use this word portfolio. So how do you treat your giving like it's a portfolio?A portfolio simply means that there are multiple buckets to put money in with intended multiple purposes. And so when you put multiple buckets and multiple purposes, it makes a portfolio. It helps with your giving as well. And so where we choose to give around these themes can be done whether we have a widow's might or whether we have multiple hundreds of thousands of dollars to give. This is powerful because it really gives you a filter or a lens to look at your giving, evaluated in light of your passions, but also God's word, and then see if there's any gaps. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS: Ethan and his wife are trying to get out of college debt and looking for health insurance. The places they are employed at offer policies, but they are wondering what is best and cost efficient.Nancy is thinking about changing her living situation and figuring out our monthly expenses. Don’t know how to figure for inflation, putting away for savings, and how do you plan for things that don’t come up every year.Jim and his wife retired 2 yrs ago, he moved 401k into an IRA and combined it with traditional IRA and a small amount in a Roth. Is it a good idea to slowly convert IRA to Roth?Jack had heard a past Faith and Finance program that talked about a looming recession and wondering what experts are saying about this today.Danita is asking that with interest rates going up, is it a good idea to buy a home right now? RESOURCES MENTIONED:Kingdom Advisors Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give as we expand our outreach. 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.

Please tell us about your list titled, “Your 10 Most Important Financial Moves for 2024.”We want to help people choose the best 10 ideas that specifically fit their situation. So we discuss over 60 suggestions in the article and encourage each reader to select their personal Top 10 list. We’ve found that those who go through this process of making a personal Top 10 list — and then follow through on those action steps — become better stewards and make tangible progress toward their long-term goals. These suggestions are broken into several categories. Help us understand spiritual and financial fundamentals …We try to set the appropriate context before diving into the nitty gritty financial stuff. And that begins with understanding what God says about us, and about our money, in scripture. So a few highlights from this section include:Resting in God’s love. His love isn’t based on our worth or merit.Invest time in studying what Scripture says about money and material possessions. SMI has long believed the #1 financial mistake Christians make is ignoring biblical wisdom about financial matters and looking to secular advice instead. The next category is “the world around you.” What does that cover?Improve your understanding of the problems and policies shaping today’s economy.Another “big picture” topic to understand relates to the rapidly expanding level of federal debt. The next category is “strengthening your foundation.” What do we have there?Building an adequate emergency fund — before risking money in the stock and bond markets.Invest time creating and following a budget. This is probably the most powerful single step many people can take to make tangible financial progress in the year ahead.Committing to giving generously even if you’re paying off debt. Getting out of consumer debt is crucial for long-term financial stability. The next section now is “developing your investing plan.”Face your fears, overcome your inertia, and start investing! Don’t wait for the “perfect time” to get started. A second step for relatively new investors is to become a dollar-cost averaging investor — and ideally automate that process so it’s out of sight, out of mind. “Dollar-cost averaging” (DCA) just means investing the same amount of money at regular intervals — for example, investing $300 every month. Tell us what “broadening your portfolio“ is.Become a “diversified” investor. This includes starting to learn about different types of stocks and bonds and how to combine them in a portfolio. This is also where a person would start thinking more closely about retirement taxes and the best way to utilize traditional and Roth accounts. And for the gold bugs out there, we’ve got a separate action item about gold investing. Let’s talk about retirement.Start thinking through your later-life decisions when you’re in your 50s. Most people put this off, but research suggests it’s wise to think this through earlier. There are lots of tangible retirement items relating to Medicare, how to optimize your Social Security benefits, and so forth. The last category is what you might call,” everything else.” It includes children, work, college technology and insurance.For parents — and grandparents — Be intentional about training your children to be wise and faithful stewards. Other ideas here include insurance items, specifically making sure you have enough liability insurance coverage, because the default liability coverage in a lot of homeowner and auto policies is insufficient. Disability insurance is another one to consider here. And of course, for those with young children, the topic of saving for college is always of particular interest, so learning about the best ways to approach that is time well spent. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS: Alan wants to know if solar panels will help with paying his bills now and going into the future.Kristen is a widow. Her husband recently passed away. He was a pastor and their church was putting away in a 403b for his retirement. What is the best way for the church to give her the money without being penalized? RESOURCES MENTIONED:The Sound Mind Investing HandbookSoundMindInvesting.orgGoogle project sunroofCertified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community, and give as we expand our outreach. 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’ve made a resolution to manage your money better this year, how can you be sure to keep it for the long haul? Today we’ll help you avoid the pitfalls of resolution failure. No matter when you make them, resolutions are hard to keep. The most common excuses for giving up on our resolutions are…lack of willpower, forgetfulness, and plain old laziness. Break old habits and develop new good habits. Make a clear plan. Financial resolutions are almost guaranteed to fail if you don’t set up a budget. Have accountability. Don’t go it alone. Don’t do it all in your own strength. We need to lean on the Lord. As Isaiah 40:28 says, that’s where the power is. The Lord is the everlasting God, the Creator of the ends of the earth. He does not faint or grow weary; his understanding is unsearchable. He gives power to the faint, and to him who has no might he increases strength. Here’s a new way to approach your new year’s resolutions.First, pray. Ask God to show you his will for you. As with any goals, your financial resolutions need to be SMART. Specific – The more detailed and clear your plans are, the easier they’ll be to follow. That’s where a spending plan comes in. Measurable. Your detailed budget will allow you to keep track of where your money’s going. Achievable. Don’t expect to pay off all your debt at once or build up your emergency fund in just a couple of months. Be patient with the process.Realistic. It’s okay to dream, but your spending plan needs to reflect your real income and your real expenses. Timely. If you’re saving for something, or paying down debt, give yourself a reasonable timeline, and stick to it. Set up your spending plan and track it weekly…or even daily… so you always know where you stand. If you need help with a spending plan, or getting out of debt, or saving for the future, download the Faithfi appfrom your app store. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS: Jim and his wife are both retired, home is in a trust for all the children. We want to put an addition on our home for us and for our children to be able to buy our home and move in. We are concerned with mortgage rates. How do we do that?Jean is asking about where to put a CD that is coming due.Diana is on disability since 2012, in 5 years my monthly income is going to drop by one-half. I have an option to take out my pension, at one-third, in a lump sum. What should I do?Harriet is 58 and has term life insurance, is it wise to have life insurance? RESOURCES MENTIONED: FaithFi app Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. 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.