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FaithFi: Faith & Finance에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 FaithFi: Faith & Finance 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
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Faith & Finance
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Manage series 1541508
FaithFi: Faith & Finance에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 FaithFi: Faith & Finance 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
Faith & Finance is a daily radio ministry of FaithFi, hosted by Rob West, CEO of Kingdom Advisors. At FaithFi, we help you integrate your faith and financial decisions for the glory of God. Our vision is that every Christian would see God as their ultimate treasure. Join Rob and expert guests as they give biblical wisdom for your financial journey and provide practical answers to your pressing financial questions. From budgeting and debt management to investing and stewardship, Faith & Finance equips listeners with insights to handle money wisely and live generously for God's Kingdom. Listen now or ask your question live by calling 800-525-7000 each weekday from 10-11 a.m. ET on American Family Radio and 4-5 p.m. ET on Moody Radio. You can learn more at FaithFi.com.
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1087 에피소드
모두 재생(하지 않음)으로 표시
Manage series 1541508
FaithFi: Faith & Finance에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 FaithFi: Faith & Finance 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
Faith & Finance is a daily radio ministry of FaithFi, hosted by Rob West, CEO of Kingdom Advisors. At FaithFi, we help you integrate your faith and financial decisions for the glory of God. Our vision is that every Christian would see God as their ultimate treasure. Join Rob and expert guests as they give biblical wisdom for your financial journey and provide practical answers to your pressing financial questions. From budgeting and debt management to investing and stewardship, Faith & Finance equips listeners with insights to handle money wisely and live generously for God's Kingdom. Listen now or ask your question live by calling 800-525-7000 each weekday from 10-11 a.m. ET on American Family Radio and 4-5 p.m. ET on Moody Radio. You can learn more at FaithFi.com.
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1087 에피소드
모든 에피소드
×One of the most common questions people ask is, “How much will I need to retire?” The answer is, “It depends.” It depends on your lifestyle, needs, and one key factor: how much you’re willing and able to cut from your budget. Let’s explore how thoughtful adjustments can help you bridge the retirement income gap and make this season of life meaningful and fulfilling. Understanding Retirement Income Most retirees experience a drop in income. While many work-related expenses disappear—like commuting, clothing, and dining out—studies show the average retirement budget is about 60% of pre-retirement income. Experts generally recommend aiming for 75-80% of your working income to cover expenses. For example, if you’re earning $75,000 annually, you’ll need approximately $56,000 in retirement. However, if Social Security and investments only generate 60% of your income, you’ll face a shortfall of $11,250 annually—or $940 per month. To bridge that gap, you can: Work longer to save more. Work part-time in retirement. Cut expenses to close the gap. How to Cut Retirement Expenses 1. Downsize Your Home If your large family home is mostly empty, consider downsizing. A smaller home reduces: Maintenance costs. Utility bills. Property taxes. Additionally, selling your home can free up cash to convert into an income stream. If you’ve lived in the house for two of the last five years, you can exempt up to $250,000 in capital gains (or $500,000 for married couples). 2. Reduce Transportation Costs Without work commutes, you may not need two vehicles. Selling one: It cuts repair costs, registration fees, and insurance premiums. Generates extra cash for your retirement fund. Consider ride-sharing services for occasional conflicts when you and your spouse need to be in different places at the same time. 3. Drop Unnecessary Insurance Policies Some insurance becomes unnecessary after retirement: Disability Insurance: This replaces lost income when you can’t work. If you’re retired, you no longer need it. Life Insurance: If your children are financially independent, you can scale back or eliminate coverage, especially since premiums rise with age. 4. Eliminate Debt Carrying consumer debt, such as credit card balances, into retirement can significantly drain a reduced income. Instead, use the savings from downsizing, selling a vehicle, or cutting insurance to pay off high-interest debt as quickly as possible. Embrace the Opportunity to Give Retirement isn’t just about cutting expenses—it’s also about finding purpose. With more free time, consider serving your church or favorite ministry. Retirement offers an incredible opportunity to pour your wisdom and experience into others for God’s glory. Retirement can be one of the most fulfilling seasons of your life. You can find contentment and purpose by thoughtfully managing your expenses and seeking God’s guidance. Remember, Christians don’t retire from something but to something. Ask God how He wants you to use this season for His glory, and trust Him to provide for your needs. On Today’s Program, Rob Answers Listener Questions: My mother-in-law gifted our house to my wife during estate planning. I know this is not ideal because it sets the cost basis to what they originally paid. Can my wife return the house and have her mom set up a transfer-on-death (TOD) deed instead? I recently sold my house and have the proceeds. I want to be a good steward of this money, but I'm unsure if I should put it in a high-yield savings account, an index universal life insurance product, or something else. What would be the best investment approach for this money? I'm 80 years old, and I've taken the required minimum distributions from my IRA account for about 10 years. I do a qualified charitable distribution each year and give all that to the church. But when I die, my kids are beneficiaries of the IRA, where they have to continue the minimum required distributions. I want to understand how that works for my kids when they inherit the IRA. Should I put my money in the S&P 500 index fund or use the Charles Schwab Intelligent Portfolio for my Roth IRA? Which option is the best investment approach? My husband just recently passed away, and I haven't received the life insurance payout yet. When I do receive it, do I need to pay a tithe on that money? I just finished my divorce, and the judge is letting me keep my $24,000 401(k). I want to use that money to buy a small house because the rent is too high. Are there any fees or penalties for taking a hardship withdrawal from my 401(k) to use for a home purchase? Resources Mentioned: Faithful Steward: FaithFi’s New Quarterly Publication Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC) 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 and American Family Radio . Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.…
If you’re wondering what the economy will do in 2025, you don’t want to miss this program. Few major league hitters can bat .300 in a given season. Imagine hitting .700! That’s what Bob Doll does every year: forecasting economic trends. He joins us today with his ten predictions for 2025. Bob Doll is the CEO and CIO of Crossmark Global Investments . He regularly contributes to Faith and Finance and other media outlets like Bloomberg TV, Fox Business, and CNBC. Key Economic Predictions: Fewer Tailwinds, More Tail Risks The theme of Doll’s predictions signals a shift: Fewer Tailwinds: Slower earnings growth and high valuation levels create less upward momentum. More Tail Risks: A new political administration introduces uncertainty around regulation, tax policies, and trade. Doll shares insights on everything from inflation to sector performance. Let’s dive into his top predictions for the year ahead. 1. Slower Economic Growth and Rising Unemployment Doll predicts economic growth will slow as unemployment rises past 4.5%. While this signals a cooling job market, he emphasizes that a 4.5% unemployment rate is historically low and not cause for alarm. 2. Sticky Inflation and Limited Rate Cuts Inflation is expected to remain stubbornly above the Federal Reserve’s 2% target. This will likely limit the Fed’s ability to reduce interest rates, continuing the challenges seen in 2024. 3. Treasury Yields and Credit Spreads Treasury yields are forecasted to trade between 3.75% and 4.75%, with credit spreads widening slightly as the economy slows. While this doesn’t point to a recession, it reflects tighter financial conditions. 4. Slower Earnings Growth Doll anticipates earnings growth will fall short of the optimistic 14% consensus, noting that such high growth is rare without a post-recession recovery. 5. Increased Volatility After a period of low volatility, Doll predicts the VIX (Volatility Index) will approach 20, reflecting greater market uncertainty. He advises investors to remain disciplined and avoid emotional reactions to market swings. 6. A 10% Market Correction Doll foresees a 10% correction in 2025, emphasizing that such corrections are normal and should be viewed as buying opportunities for long-term investors. 7. Equal-Weighted Portfolios Outperform Cap-Weighted Portfolios Doll expects equal-weighted portfolios to outperform cap-weighted ones as the dominance of mega-cap stocks like the “Magnificent Seven” wanes. 8. Value Outperforms Growth After years of underperformance, value stocks are projected to outshine growth stocks, driven by cheaper valuations. 9. Top Performing Sectors Doll predicts financials, energy, and utilities will outperform sectors like healthcare, technology, and industrials. While technology remains essential, high valuations could temper its returns. 10. Tax Cuts and Reduced Regulation With the Trump tax cuts set to expire in late 2025, Doll anticipates extensions alongside reduced regulations. However, divisive policies like tariffs and deportation may have limited economic impact. 11. Budgetary Challenges Efforts to address government spending will face significant hurdles, with key programs like Social Security, Medicare, and defense spending off the table. Progress will likely fall short of ambitious deficit reduction targets. Preparing for 2025 Doll acknowledges that predicting the future is inherently uncertain, but his insights provide valuable context for navigating the year ahead. He advises investors to stay diversified, remain disciplined, and prepare for volatility. As we embrace 2025, let’s remember that while economic trends may fluctuate, wise stewardship and long-term planning remain steadfast principles for financial success. On Today’s Program, Rob Answers Listener Questions: When our children were young, my husband and I decided to start tithing despite our tight budget. I was skeptical about how we could afford it, but we began tithing in faith. Surprisingly, our budget never changed—the 10% we tithed didn't impact our weekly spending. It was almost miraculous how the Lord provided for us as we honored him with our finances. To this day, I'm not sure how it worked out, but God was so faithful when we stepped out in obedience. We've saved up cash at home for emergencies but have no significant expenses since we live on Social Security. How much of that cash should I keep at home? And if I don't keep it all at home, what's the best way to keep it somewhat liquid and earn some interest rather than just storing it in a coffee can? Resources Mentioned: Faithful Steward: FaithFi’s New Quarterly Publication Crossmark Global Investments Bankrate Christian Community Credit Union (CCCU) Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC) 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 and American Family Radio . Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.…
“Give me neither poverty nor riches, but give me only my daily bread.” - Proverbs 30:8 Every generation has struggled to learn contentment, and ours is certainly no different. But God’s Word provides great instruction on this tough topic. Brian Holtz helps us work through it today. Brian Holtz is the CEO of Compass Financial Ministry and the author of Financial Discipleship for Families: Intentionally Raising Faithful Children . What Is Contentment? In Philippians 4:12, the apostle Paul shares, “I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want.” As Paul describes it, contentment is being satisfied with having enough—neither desiring more nor less. It’s a state of recognizing God’s provision as sufficient for every situation. On the surface, contentment sounds simple: accept and be grateful for what you have. But as with most heart issues, it’s far more complex. At a recent conference, attendees were asked two revealing questions: Do you feel you have enough? Who would like more? Most people raised their hands to both questions. This honest reflection highlights a tension many of us face: knowing we have enough yet wanting more. As Proverbs 30:8 reminds us, “Give me neither poverty nor riches, but give me only my daily bread.” However, genuinely praying for “only my daily bread” can be a struggle when we long for more security or comfort. How to Learn Contentment Paul’s contentment didn’t come naturally—it was something he learned . His focus on gratitude provides a practical framework for us: Focus on What You Have, Not What You Lack Paul’s secret to contentment lies in appreciating God’s provision in all circumstances. Whether in plenty or need, he trusted in God’s sufficiency. Reframe Your Perspective Instead of longing for a better car, job, or house, focus on the blessings you already have. Gratitude shifts your mindset and allows you to recognize the abundance in your life. Embrace the Sweet Spot Paul’s perspective mirrors the balance described in Proverbs 30:8—a place between poverty and riches where we can flourish spiritually. When we focus on enough rather than excess, we experience greater peace and satisfaction. Finding Contentment in a Discontented World Contentment isn’t something we achieve overnight; it’s a lifelong journey. That’s why Compass Financial Ministry is dedicating its upcoming Your Money Counts conference to this vital topic. The conference, which will take place in Orlando, FL, from February 27 to March 1, will offer an in-depth look at finding contentment in a world plagued by materialism. Attendees will explore Scripture, practical tools, and community support to grow as faithful stewards. Learning contentment is essential for spiritual growth and faithful stewardship. As we embrace gratitude and trust God’s provision, we’ll find the peace Paul describes in Philippians 4. For more information about the Your Money Counts conference, visit CompassFinancialMinistry.org . Don’t miss this opportunity to learn how to thrive in God’s provision and find true satisfaction in Him. On Today’s Program, Rob Answers Listener Questions: I'm looking to buy a new house near my grandkids before I retire in the next couple of years. I have rental property, retirement accounts, and other assets. How can I use these to purchase a new home without taking out a mortgage or depleting my retirement savings too much? I'm 24 and live at home. I'm close to paying off all my student debt, which I'm excited about. I'm starting to think about budgeting, investing, and saving up for things like renting or even buying a home in the future. However, I'm anxious about transitioning to the "real world" and managing my finances. What's your advice for a younger person like me who doesn't have a ton of net worth yet but wants to honor the Lord with my money? A few years ago, I invested in a private biotech company that has since gone public and is listed on the NASDAQ. However, I've lost my login credentials to monitor the investment, even though it's in a custodial account. I've tried to recover my login but haven't been able to do so. What's the best way to regain access to view and manage this investment? I operate a nonprofit organization, and I'm considering trying to get a tax break for it. I was thinking about turning my residence over to the nonprofit. Can I get a tax deduction? What's the best way for me to go about doing that? Resources Mentioned: Faithful Steward: FaithFi’s New Quarterly Publication Compass Financial Ministry | Your Money Counts Conference Open Hands Finance Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC) 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 and American Family Radio . Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.…
Losing a loved one is a time of profound grief and confusion, and the practical tasks that follow can feel overwhelming. Settling a loved one’s estate requires careful attention and preparation. Let’s walk through six financial steps to take during this challenging time, all underpinned by prayer and reliance on God’s guidance. Begin with Prayer Before addressing financial matters, take time to pray. Invite God into your decisions and ask for wisdom. James 1:5 reminds us, “If any of you lacks wisdom, let him ask God, who gives generously to all without reproach, and it will be given him.” Prayer offers clarity and comfort, helping you approach the estate settlement process with confidence and peace, knowing the Holy Spirit is interceding on your behalf (Romans 8:26). Step 1: Obtain the Death Certificate The death certificate is a critical legal document you’ll need to settle your loved one’s affairs. It’s usually prepared by the medical examiner and provided through the funeral home. You’ll need multiple copies for various purposes, such as notifying financial institutions, filing taxes, and starting probate. If you don’t receive the death certificate within a few weeks, contact the funeral home or your local vital records office. Step 2: Begin the Probate Process Take the death certificate and the will to your county probate office to file a petition to begin probate. As the executor, you can then carry out the deceased’s wishes. If there’s no will, the process becomes more complex. You’ll still petition the court to begin probate and may request to be named administrator of the estate. However, the court will decide how the estate is distributed according to state law. For guidance, consider consulting a Certified Kingdom Advisor (CKA) . Visit FaithFi.com and click “Find a Professional” to find a trusted advisor. Step 3: Notify Financial Institutions and Advisors Inform the deceased’s financial institutions, banks, and financial advisors of their passing. Advisors can help identify assets and ensure they’re handled correctly. Check for accounts with Transfer on Death (TOD) or Payable on Death (POD) instructions. These accounts can often bypass probate, simplifying the process. Additionally, notify the three credit reporting agencies—Equifax, TransUnion, and Experian. Provide the death certificate to close accounts and check for fraudulent activity. Step 4: Address Insurance Policies Contact the deceased’s life insurance company to begin the claims process and provide the death certificate and policy details. Also, cancel other unnecessary insurance policies, such as auto or disability insurance, to avoid ongoing payments for no longer required services. Step 5: Notify Government Agencies Ensure the appropriate government agencies are informed of your loved one’s passing. The funeral director often notifies Social Security but confirm that this has been done. Notify Medicare and, if applicable, the VA or other government programs. This step helps avoid complications and ensures benefits are properly adjusted. Step 6: File Final Taxes The final step is filing the deceased’s taxes, including any outstanding returns. This is often best handled by a professional, such as a CPA, to ensure compliance and accuracy. While these tasks may seem overwhelming, prayer and preparation can guide you through. Remember, you are not alone in this journey. Lean on God’s wisdom and the support of trusted professionals to navigate this season with grace and confidence. On Today’s Program, Rob Answers Listener Questions: My able-bodied older sister has been relying on our family for financial support for the past 8 years, even though the work she chooses doesn't provide enough income. Should we continue supporting her, or is that not helping her in the long run? My wife and I will inherit an IRA from my mother-in-law. The IRA and a brokerage account contain over $300,000 in cash. However, the money market account yield has dropped from 5.3% to 4.5%. Where should we invest this cash with the stock market looking richly valued? I'm 70 and retired, and I need to get a new car. I currently owe $27,000 on my home. Should I pay off the remaining mortgage, which would increase my monthly payment, or should I get a car that would cost around $20,000, which would lower my monthly payment? I don't know where to get the money to do either. My 91-year-old dad has a $3,500-$4,000 monthly shortfall in his long-term care expenses and is down to his last $25,000. I'm considering a reverse mortgage for him, as this could allow him to stay in his home for another 2.5 years. What are your thoughts on the different types of reverse mortgages and whether this could be a good option for his situation? Resources Mentioned: Faithful Steward: FaithFi’s New Quarterly Publication Movement Mortgage National Christian Foundation (NCF) Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC) 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 and American Family Radio . Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.…
When the topic of generosity comes up in church, reactions can be mixed. Some tune out, assuming the message is about funding a project or filling a financial gap. But generosity is about much more than meeting needs—it’s about the heart behind the act. Let’s explore not only why we should give but also why we shouldn’t and how to cultivate a heart for biblical generosity. Why We Shouldn’t Give 1. Guilt Shouldn’t Be Your Motivation Many Christians have been influenced by guilt-driven messages, from legalism to the prosperity gospel. These teachings suggest that not giving enough equates to stealing from God or forfeiting His blessings. However, the Bible paints a different picture. In 2 Corinthians 9:7, Paul reminds us, “Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.” Faithful giving stems from joy, not guilt or obligation. It’s also crucial to distinguish between guilt and conviction. Guilt comes from the enemy and leads us away from Christ, while conviction comes from the Holy Spirit, drawing us closer to God. Hebrews 10:22 reassures us that, through Christ’s sacrifice, we are freed from guilt. If guilt drives your giving, pause and prayerfully examine your heart. 2. Giving to Control the Church Sometimes, people give to influence church decisions, designating funds to specific ministries or withholding support to express disagreement with leadership. This approach can sow division and turn generosity into a transaction. Giving with strings attached undermines the act of worship and reflects a lack of trust in God’s sovereignty. As stewards of God’s resources, we are called to support His work, even when we don’t agree with every decision. 3. Seeking Self-Righteousness Through Giving Generosity should not be a means to feel morally superior. In Luke 18:11-12, Jesus shares the Parable of the Pharisee and the Tax Collector. The Pharisee flaunted his giving to showcase his righteousness, while the tax collector humbly sought God’s mercy. Faithful giving is a response to God’s grace, not a way to earn recognition or status. If pride motivates your generosity, it’s time to reassess your heart. Principles for Generous Giving To develop a heart of biblical generosity, consider these principles: 1. Make Giving a Priority Proverbs 3:9 teaches, “Honor the Lord with your wealth and with the firstfruits of all your produce.” Giving should come first—not as an afterthought or leftover. 2. Embrace Sacrificial Giving In 2 Samuel 24:24, David declares, “I will not offer burnt offerings to the Lord my God that cost me nothing.” True generosity often requires sacrifice, mirroring Christ’s sacrificial love for us. 3. Give Cheerfully As Paul emphasizes in 2 Corinthians 9:7, “God loves a cheerful giver.” Joyful giving reflects trust in God’s provision and a desire to participate in His work. Reflect Before You Give Before giving, ask yourself: Am I giving out of gratitude, joy, and a desire to honor God? Or are guilt, control, or pride influencing my decision? God values the heart behind your generosity far more than the size of your gift. By giving with a spirit of gratitude and humility, you participate in advancing His Kingdom and glorifying Him through your stewardship. On Today’s Program, Rob Answers Listener Questions: I've lived with a roommate for the past three years, and he has not had a job since March. I haven't been able to set any money aside or anything like that, with me covering those, and I wanted to know if you had any advice on what I should do if I should move out or otherwise. I have a son who's considering bankruptcy. He has more than just credit card debt, and I'm concerned about what filing bankruptcy will do to his credit and how long it would take him to recover. He's hoping to be able to buy a house soon. My friend told me about an IRA manager, and I am about to sign the contract. They charge 1.5%, and I want to know if that is normal. I'm about to sign a check for $8,000, and I just want more information about that. Also, can you tell me about an annuity? I don't know much about it. When my grandmother died, in her will, she left your house to me and my aunt pending her husband's death. Well, before her husband died, he ended up giving the property to somebody else, and because of that, my aunt and I were just left out. Is that legal? Can you confirm whether it's true that you must report interest gained to the federal government if you open a high-yielding savings account? Resources Mentioned: Faithful Steward: FaithFi’s New Quarterly Publication Betterment | Schwab Intelligent Portfolios Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC) 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 and American Family Radio . Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.…
Do you dream of being financially free but are unsure where to start? Stay with us—we’re here to help. Knowing what to do and actually doing it are two very different things. Today, we’ll share the steps to achieve financial freedom, but the decision to take action is yours. Like most worthwhile goals, it starts with the desire and determination to make it happen. Start with a Mindset Shift Financial freedom begins with a change in perspective. Many people approach budgets like a diet—focused on restriction and deprivation. Just as restrictive diets often lead to overeating, feeling financially deprived can lead to overspending. Why does this happen? The Bible identifies underlying issues like greed, envy, covetousness, or a lack of faith in God’s provision. To overcome these, you need to cultivate gratitude. As 1 Thessalonians 5:16-18 says: “Rejoice always, pray without ceasing, give thanks in all circumstances; for this is the will of God in Christ Jesus for you.” Gratitude shifts your focus from what you lack to what you have, enabling contentment and a more positive relationship with your budget. Practical Tips for Living Below Your Means Once your mindset is aligned, it’s time to take action. Here are some practical steps to help you live below your means: 1. Build Margin Having money left over at the end of the month is critical for financial freedom. Start by scrutinizing your fixed expenses: Can you lower your mortgage payment by eliminating PMI? Reduce energy costs by being more efficient. Cancel unused streaming subscriptions or other recurring charges. Sometimes, simply asking for a discount—on medical bills or repairs—can save money. It never hurts to ask! 2. Track Your Spending Knowing where your money goes is essential. The FaithFi app is an excellent tool for setting up a budget and tracking your spending. It can highlight areas where you can cut back, like unused subscriptions, potentially saving hundreds of dollars annually. 3. Celebrate Small Wins Budgeting doesn’t have to feel like a punishment. Reward yourself for hitting financial milestones: Treat your family to ice cream after a week of staying on budget. Celebrate building your emergency fund with a special dinner. These small rewards keep you motivated without derailing your financial progress. 4. Delay Non-Essential Expenses Stretch out spending for non-essentials like salon visits or subscriptions. For example, getting your nails done every six weeks instead of four can save $100 a year. 5. Declutter and Sell Unused Items If you’re paying for storage, consider selling items you no longer need. A good rule of thumb: Let it go if you haven’t used it in a year. This can free up cash and eliminate unnecessary expenses. Increase Your Income If you’ve trimmed your expenses but still struggle to live below your means, it’s time to explore ways to boost your income. Take on a side job in the gig economy. Pick up extra hours at work or ask for a raise. Leverage your skills for freelance or consulting opportunities. Even a modest income increase can significantly improve your financial situation over time. Learning to live below your means allows you to serve God more fully, free from the weight of financial stress. It’s a journey of faith, discipline, and intentionality, but the rewards—both spiritual and financial—are worth it. On Today’s Program, Rob Answers Listener Questions: I recently left a domestic violence situation and will be receiving around $200,000 from the sale of our home. I have limited income and minimal debt. Should I use the home sale proceeds to pay off all my debt to start fresh, or should I keep the debt and make payments to rebuild my credit while holding onto the home sale money for a year or two? I'm turning 65 in March and will be Medicare-eligible. However, I plan to continue working and have employer-sponsored insurance, including an HSA, to which I contribute. I've heard conflicting information—can I continue not enrolling in Medicare now, and can my employer continue contributing to my HSA? My IRA advisor is transferring to LPL Financial. Charles Schwab recommended that I roll over my $300,000 IRA to them and invest directly in stocks rather than mutual funds, saying I was too conservatively invested. Should I stay with my current advisor as they move to LPL, or should I look for a new advisor at Charles Schwab or elsewhere? I have one loan left, a 7.25% bank loan of about $20,000. I also took out a $14,000 401(k) loan. I plan to retire in May when I turn 65. Would it be best for me to pay off both of these loans before I retire, even though it would mean withdrawing from my 401(k) to pay off that loan? Resources Mentioned: Faithful Steward: FaithFi’s New Quarterly Publication NerdWallet Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC) 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 and American Family Radio . Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.…
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Faith & Finance
1 3 Financial Mistakes Young Adults Should Avoid with Rachel Wong 24:57
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24:57“The way of a fool is right in his own eyes, but a wise man listens to advice.” - Proverbs 12:15 It’s good to learn from your mistakes, but it’s even better to learn from someone else’s. Rachel Wong joins us today with three big financial mistakes that young adults often make…so you can avoid them. Rachel Wong is an Accredited Financial Counselor® and the creator of Open Hands Finance : a biblically-based content curriculum that teaches money skills to emerging adults. Money Missteps: 3 Easy Mistakes To Avoid As A Young Adult Money management is a crucial skill, especially for young adults just starting their financial journey. Here are three key financial mistakes young adults often make and how to avoid them: 1. Waiting to Save for Retirement Many young adults think they’ll start saving for retirement once they “make more money.” This delay can cost them valuable years of compound interest. Starting in your 20s is like taking a leisurely walk—manageable and effective. Waiting even a few years turns the journey into a sprint. Tip: Open a Roth IRA and start contributing small amounts monthly. Even $25 a month can grow significantly over time. 2. Waiting to Start Giving Some believe they’ll start giving once they earn a larger paycheck. But let’s remember the story of the widow’s mite. Despite her poverty, she gave anyway, reminding us of what it means to be faithful in our giving, regardless of our income. Tip: Begin giving a small, regular percentage of your income now. It’s not just about generosity—it’s about developing a habit that aligns your heart with God’s abundance. 3. Relying on Willpower for Savings Manually setting aside money every month can be challenging. That’s why automating our savings can help when we struggle with consistency. Tip: Automate savings and retirement contributions. Set up a monthly transfer to ensure consistency, regardless of life’s demands. Teaching Young Adults to Manage Money Biblically Open Hands Finance combines biblical wisdom with actionable exercises, such as setting up a budget and opening a Roth IRA. The program includes a unique matching incentive—sponsored by parents, universities, or third parties—to encourage participation. The curriculum’s student-led approach makes it relatable and impactful. It’s not just theoretical; it equips participants with tools to live below their means, practice generosity, and plan for the future. If you’re a college student or young professional—or know someone who could benefit—visit OpenHandsFinance.com to learn more about the curriculum and resources. Money is a resource God has entrusted to us. Managing it wisely allows us to live generously and reflect His abundance. Start today and set yourself on a path of faith-filled financial stewardship. On Today’s Program, Rob Answers Listener Questions: What are your thoughts about a company called Thrivent Financial ? Are they a reputable and trustworthy company that does a good job? Also, would moving around $150k from my 401(k) into an annuity with a 1.1% fee and a 6% guarantee be a good move? Can I do a home equity line of credit to pay off some of my debt, like a few credit cards and some accumulated bills? Resources Mentioned: Faithful Steward: FaithFi’s New Quarterly Publication Open Hands Finance Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC) 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 and American Family Radio . Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.…
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Faith & Finance
1 New Year, New Hope for Paying Down Debt with Neile Simon 24:57
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24:57At this time of year, many people hate going to the mailbox or checking their email. That’s because the Christmas bills are starting to roll in. Yes, the holidays are behind us, but for many people, burgeoning credit card balances are just ahead. If you think you’ll have trouble making those payments, Neile Simon is here with a plan to help you get out of debt. Neile Simon is a Certified Credit Counselor with Christian Credit Counselors (CCC) , an underwriter of Faith & Finance . The Growing Problem of Credit Card Debt Credit card debt has surpassed $1.16 trillion, marking a 50% increase in just three and a half years. By 2024, the average credit card debt for individuals carrying unpaid balances reached $7,200. Rising costs due to inflation have pushed many to rely on credit cards just to get by. This growing burden isn’t just financial—it also creates fear, anxiety, and helplessness. These feelings do not come from God. Recognizing the seriousness of the situation is the first step toward finding freedom from debt. Do You Need Credit Counseling? If you’re struggling with credit card debt, it’s essential to ask for help. Neely recommends reaching out for credit counseling if: You have an unpaid balance of more than $4,000. You’re struggling to keep up with minimum payments. You feel stuck, making payments with little progress. Debt is causing you stress or sleepless nights. Christian Credit Counselors can provide guidance and support to help you regain control of your finances. Why Choose Debt Management Over Debt Settlement? Christian Credit Counselors take a debt management approach, which differs significantly from debt settlement or consolidation. Here’s how it works: Pre-Negotiated Terms: They work with creditors to lower your interest rates (ranging from 1–12% APR) and monthly payments. Debt Snowball Method: Payments are structured to help you get out of debt up to 80% faster, all while honoring your debt in full. Customizable Enrollment: You can choose which accounts to enroll in, and the accounts included will be closed during the program. Free Budgeting Support: Counselors help you create a budget, identify areas to cut back, and understand your disposable income. This approach focuses on integrity and honoring your commitments while providing a clear path to financial freedom. The Biblical Foundation for Debt Management Managing debt isn’t just about financial freedom—it’s also a way to honor God. Neely emphasizes the importance of aligning debt repayment with biblical values. Romans 13:7-8 encourages believers: “Give to everyone what you owe them … Let no debt remain outstanding, except the continuing debt to love one another.” Through debt management, Christians can fulfill their financial responsibilities, honor their commitments, and live generously, reflecting God’s principles. Take the First Step Toward Freedom If you’re ready to explore debt management, Christian Credit Counselors offers free consultations with no obligation. Their goal is to educate you on your options and help you achieve financial well-being while staying true to your faith. Visit ChristianCreditCounselors.org or call 800-557-1985 to learn more. Managing debt wisely allows us to honor God and live a life of generosity and service to others. Take the step today toward financial freedom and faithful stewardship. On Today’s Program, Rob Answers Listener Questions: I currently have a 401(k) and a Roth IRA. I'm wondering if I should be investing in both or if I should just focus on one. What's the best approach here? I have an 18-year-old granddaughter with about $16,000 in a custodial account at Edward Jones. When she turns 18 in May, she'll have complete control over this money. I don't know if she knows about it yet. What would be the best way to handle this? Should I take the money out and put it in a high-yield savings account? Or could I put it into a Roth IRA for her? My husband and I own a small business and are 71 years old. We have $23,000 in high-interest credit card debt from the business. We recently paid off a home equity line of credit. Would it be better to transfer that debt to the home equity line with a lower interest rate? Is mixing business and personal debt a good idea? I also haven't paid business taxes yet for this year, so I would like to know if keeping the Visa debt separate as a business expense is better for tax purposes. When withdrawing from my brokerage investment account, how should I calculate the cost basis of the investments I'm selling? I know there are different methods, like last-in and first-out, but I'm unsure which is the most appropriate. I have a CPA but haven't discussed this with them yet. What would you recommend I do? Resources Mentioned: Faithful Steward: FaithFi’s New Quarterly Publication Christian Credit Counselors Open Hands Finance Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC) 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 and American Family Radio . Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.…
“Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it.” - Proverbs 21:20 God’s Word couldn’t be any plainer on the need to live below one’s means and to be able to save for the future. To do that, you need a budget. Chad Clark is here to share some interesting facts about budgeting. Chad Clark is the Executive Director of FaithFi: Faith & Finance and the co-author of Look at the Sparrows: A 21-Day Devotional on Financial Fear and Anxiety . More People Budget Than You Think—But There's a Catch A recent NerdWallet survey revealed that 75% of Americans have a monthly budget. Encouraging, right? However, the same survey found that 84% of those individuals regularly exceed their budget. What happens when people overspend? For 44%, it means relying on credit cards, while 56% dip into their savings. Both paths can lead to financial instability, highlighting the importance of creating a budget that works—and sticking to it. Why Do People Avoid Budgeting? We have heard a variety of reasons why people avoid budgeting, including: “It takes too much time.” “I don’t like math.” “I can’t stick to it—it feels like a diet.” “I don’t need a budget; I’m doing fine.” “It limits my freedom.” Most of these reasons stem from misconceptions about what budgeting truly involves. Busting Common Budgeting Myths Here are a few common misconceptions about budgeting—and the truth behind them: 1. “A budget is about cutting expenses.” Not true! A budget is a decision-making tool to help you prioritize spending and make wise financial choices. It’s about aligning your spending with your values, not just slashing costs. 2. “A budget is too rigid.” Your budget can be as flexible as you need it to be. It’s meant to adapt to your circumstances and help you make adjustments when necessary. 3. “I don’t need a budget because I make enough money.” Even multi-million-dollar companies use budgets! A budget helps you steward what God has entrusted to you, regardless of your income level. How the FaithFi App Can Help You Budget Better The FaithFi app is designed to make budgeting accessible, effective, and Christ-centered. Here’s how it can help: 1. Tailored to Your Money Management Style The app offers three different ways to manage your money so you can choose the method that works best for you. 2. Establishes Healthy Financial Rhythms Whether you prefer daily check-ins or weekly reviews, the app helps you build habits that keep your finances on track. 3. Focuses on More Than Money FaithFi integrates financial management with spiritual growth. Its content and community features encourage you to be a faithful steward of God’s resources. Ready to Get Started? The FaithFi app is more than a budgeting tool—it’s a resource to help you manage your money intentionally and grow in your relationship with the Lord. It’s about bringing order to your finances and aligning your decisions with God’s principles. Download the FaithFi app today at FaithFi.com or find it in your app store by searching for “FaithFi: Faith & Finance.” Make this the year you take control of your finances and honor God as a faithful steward. On Today’s Program, Rob Answers Listener Questions: I separate my giving in three ways—to my church, InTouch Ministries with Charles Stanley, and a ministry that works with autistic children. Is there anything wrong with splitting up my giving like this if that's what's on my heart? I have a self-directed IRA, called a "checkbook IRA," that I used to invest in a rental property. I have both traditional 401(k) and Roth 401(k) savings. When I retire in under two years, I plan to roll my 401(k) into the IRA to pay off the loan on the rental property. Is there any issue with commingling the Roth and traditional 401(k) funds to do this? I've been retired for a number of years, and my one daughter is a few years away from retirement. I would like to know the tax implications if I withdraw the money from my Roth IRA now and give it to her versus letting her accept it as a beneficiary when I pass away. Would she have to pay any taxes on it either way? I have a 14-year-old child and a newborn, and I've opened brokerage accounts for both of them. What are the best investment options, especially for newborns with a longer time horizon? I'm not looking to earmark the money specifically for college, but I want to invest it for their future. What are some good options to consider? Resources Mentioned: Faithful Steward: FaithFi’s New Quarterly Publication List Of Faith-Based Investment Funds Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC) 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 and American Family Radio . Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.…
What if everything you own isn’t really yours? It’s a biblical truth that changes everything once you grasp it. The belief that God owns it all has profound implications for how we manage our resources—and our lives. Let’s explore what it means to be a faithful steward of everything God has entrusted to us. The Foundation of Biblical Money Management The cornerstone of biblical money management is the belief that God owns everything. Psalm 24:1 states this clearly: “The earth is the Lord's and the fullness thereof, the world and those who dwell therein.” Paul builds on this truth in 1 Corinthians 4:7, reminding us that all we have is a gift from God: “What do you have that you did not receive? If then you received it, why do you boast as if you did not receive it?” Acknowledging this truth is one thing; living it out is another. It requires a shift in how we view money and possessions. God isn’t a consultant or silent partner in our financial decisions—He’s the owner. As His stewards, we’re entrusted to manage His resources for His purposes. What Does It Mean to Be a Steward? The Koine Greek word for steward, oikonomos , means “household manager.” Like a household manager oversees someone else’s property, we manage God’s resources. We own nothing but are responsible for everything under our care, including our finances, time, talents, and relationships. Even our ability to earn a living is a gift to be managed wisely. Deuteronomy 8:18 reminds us: "You shall remember the Lord your God, for it is he who gives you the power to get wealth." Stewardship Responsibilities As stewards, we manage God’s resources according to His will, not our own. This means making decisions that align with His purposes. Let’s break down our responsibilities as stewards. 1. Accountability to God We are accountable to God for how we manage His resources. Romans 14:12 says: “So then each of us will give an account of himself to God.” This includes using our resources to advance God’s Kingdom, care for others, and reflect His character. Similarly, 2 Corinthians 5:10 reminds us: "For we must all appear before the judgment seat of Christ, so that each one may receive what is due for what he has done in the body, whether good or evil." 2. Living with an Eternal Perspective Instead of focusing on temporal wealth, stewards invest in eternal treasures. Jesus teaches in Matthew 6:19-21: "Do not lay up for yourselves treasures on earth…but lay up for yourselves treasures in heaven." 3. Faithfulness in Small Things Faithful stewards handle even the smallest responsibilities with care. Jesus emphasizes this in Luke 16:10: “One who is faithful in a very little is also faithful in much.” 4. Generosity and Open Hands When we acknowledge God as the owner of all we have, it becomes easier to hold our possessions loosely. Faithful stewards give generously, reflecting God’s generosity and trusting Him to provide for their needs. 5. Humility in Success Good stewards recognize that all they have comes from God. Jesus warns against pride in the Parable of the Rich Fool (Luke 12:13-21), where a man takes credit for his wealth without acknowledging God’s provision. Faithful stewards give God the credit for their success. Stewardship Transforms Our Lives Living as faithful stewards transforms how we approach our finances—and our lives. It brings greater purpose, responsibility, and joy. Most importantly, it reflects our commitment to Christ and our trust in Him for all things. Our ultimate goal is to hear Jesus say, “Well done, good and faithful servant. You have been faithful over a little; I will set you over much. Enter into the joy of your master” (Matthew 25:23). By embracing the truth that everything belongs to God, we honor Him as the owner and find freedom in managing His resources for His glory. Let this perspective guide your financial journey and every decision you make. FaithFi’s New Publication: Faithful Steward Starting this month, FaithFi is launching a new quarterly publication, Faithful Steward . This resource invites you to join us on a journey of faithful stewardship, aligning your faith and finances to glorify God and bless others. To start receiving Faithful Steward every quarter, become a FaithFi partner by giving $35 or more per month or $400 or more annually. Visit FaithFi.com/give to partner with us and receive this inspiring publication delivered right to your mailbox. On Today’s Program, Rob Answers Listener Questions: Am I responsible financially for my 78-year-old aunt's condo? She needs major renovations, like a kitchen renovation, but she doesn't want to refinance to pay for it. I will be the beneficiary of the condo once she passes away through a Lady Bird Deed. Some family members are telling me I should pay for the renovations, but I'm unsure if I'm responsible. My father-in-law passed away about a month ago, and I'm helping my mother-in-law navigate everything. They had about $11,000 in credit card debt. The credit card companies said they could stop the interest, but she still has to pay the remaining balance. She's wondering if she should do that or try to consolidate the debt into one loan instead. I'm in terrible debt with credit card interest rates between 19-22%. I recently had to pay for my daughter's medical expenses, and the debt has multiplied. I tried a debt consolidation company, but they told me to stop paying my cards and go into default. That felt dishonest, so I stopped. I just want to do the right thing and get this debt under control. I need help. As my husband and I approach retirement, how much do we share about our financial situation with our almost 30-year-old children? I'm concerned that too much or too little information could impact their sense of responsibility and obligation. I'm trying to find the right balance and timing for communicating this to them. Resources Mentioned: Faithful Steward: FaithFi’s New Quarterly Publication Splitting Heirs: Giving Your Money and Things to Your Children Without Ruining Their Lives by Ron Blue with Jeremy White Christian Credit Counselors Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC) 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 and American Family Radio . Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.…
Money and relationships are a tricky combination. When a family member or close friend asks to borrow money, it can put you in a difficult spot. On the one hand, you want to help someone you care about, but on the other, lending money can easily lead to strained relationships or hurt feelings. Proverbs 22:7 reads, “The borrower becomes slave to the lender.” Lending money can hurt a relationship. And that can happen whether you lend the money or not. You’re “between a rock and a hard place,” and it seems like either way, someone may end up resentful. There are really only three things that can happen, and only one of them is good: If you decide not to lend the money, the other person could be upset. If you do lend the money and the other person doesn’t repay it, you’ll probably be upset. It’s only the third possibility that makes everyone happy: You lend the money, and the borrower pays it back. But consider carefully why they asked to borrow in the first place. They may not be able to repay the loan if they’re already in bad shape financially, for whatever reason. Fortunately, God’s Word gives us guidance here. What Does The Bible Say? First, God’s Word tells us to help those in need…lending money if necessary. Deuteronomy 15:8 says, “You shall open your hand to him and lend him sufficient for his need, whatever it may be.” Turning to the New Testament, in the Sermon on the Mount, Matthew 5:42, Jesus says, “Give to the one who asks you, and do not turn away from the one who wants to borrow from you.” Finally, 1 Timothy 5:8 might make you think the only proper response is to lend money to a family member. It reads, “But if anyone does not provide for his relatives, and especially for members of his household, he has denied the faith and is worse than an unbeliever.” Should You Always Lend Money When Asked? Not at all. The above Scriptures imply a couple of things: First, there must truly be a need. Second, lending the money would help the borrower and not contribute to that person making more unwise financial decisions. Here, Scripture has more to say: Proverbs 13:11 warns about one possible outcome of lending money. It reads, “Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” Getting a loan is often the “easy way out.” Maybe the borrower tells you the loan would be a “lifeline” —which it may be. But it’s also “easy money,” and the borrower may not appreciate the effort it takes to create that wealth. When you have to work hard for something…you tend to want to hold onto it. Hard work produces character and wisdom. Proverbs 21:20 reads, “Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it.” How Can I Discern A Real Need? So before you get out the checkbook, think carefully about whether there’s a real need. You also have to be sure that lending the money will actually help the borrower. Here are some questions to ask yourself: Can the borrower repay the loan? If there is not sufficient income or ability to repay, promises to repay will be futile. Then ask, what shape will you be in if the money isn’t repaid? If you can’t afford to lose it, you can’t afford to lend it. Then ask, "Can you help in another way?" For example, if someone needs money to repair a car, could you give rides to work until they’ve saved enough for the repairs? And last, ask yourself, can you make the money a gift instead of a loan? That way, you’re not expecting it to be paid back, so you can’t be disappointed, and your relationship won’t suffer. Again, only do that if you can afford it, and the gift should not encourage further financial mismanagement. Finally, if you decide to lend the money, you should draft a written agreement specifying the amount, interest rate, payment structure, and collateral. This will help eliminate misunderstandings later. FaithFi’s New Publication: Faithful Steward We’ve covered this topic in our brand-new quarterly publication, Faithful Steward . Featuring insightful articles and contributions from leading voices in Christian finance, Faithful Steward will help you view money not as an end in itself but as a tool to glorify God and serve others. You can receive this inspiring publication every quarter by becoming a FaithFi partner at $35 or more monthly or $400 a year or more. Visit FaithFi.com/Give to get started today. On Today’s Program, Rob Answers Listener Questions: I have a mortgage at 5.92% that I've only had since June of last year. I've been making extra $200 payments on the principal each month. When would be a good time for me to consider refinancing to get a lower rate? And if I refinance, will I lose any of the equity I've built from the extra principal payments? My husband and I recently retired and are trying to determine the appropriate amount to tithe now that we're living off our investments and pension. We're having a disagreement. He thinks we're "double paying" since we already tithed on that money when we earned it. I believe we should continue tithing on the full amount we're receiving. Can you provide guidance on how to help us resolve this? I have about 4 to 5 credit cards that I no longer use and want to close out. Since I'm not actively using these cards, I'm worried about the potential for identity theft or fraud. What is the safest and best way for me to close these unused credit card accounts? My two daughters bought a house together years ago when interest rates were low. One daughter stayed in the house while the other moved out. The daughter, who is not living there, is now having trouble getting financing because she's still on the original mortgage. Is there a way to remove her from the mortgage without the current homeowner having to refinance and lose the low rate? Resources Mentioned: Faithful Steward: FaithFi’s New Quarterly Publication Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC) 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 and American Family Radio . Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.…
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"Do you not know that in a race all the runners run, but only one receives the prize? So run that you may obtain it." - 1 Corinthians 9:24 The apostle Paul exhorted the early church at Corinth to run in such a way as to win the prize, but sometimes, with finances, it feels like we’re in a race with no end! Today, Rachel McDonough joins us to talk about setting financial finish lines. Rachel McDonough is a Certified Financial Planner (CFP®), a Certified Kingdom Advisor (CKA®) , and a regular Faith & Finance contributor. What Are Financial Finish Lines? Financial finish lines answer the question: How much is enough? This concept is built around two primary purposes for financial resources: Provision: Ensuring we meet our personal and family needs. Kingdom Impact: Using resources generously to advance God’s Kingdom. While there’s no finish line for Kingdom impact—our generosity can grow indefinitely—establishing clear finish lines in the provision bucket enables us to responsibly allocate more resources for generosity. Setting Finish Lines in the Provision Bucket 1. Lifestyle Spending Defining “enough” for lifestyle spending is the first step. One approach is to use a multiple of the poverty line income for your household. For instance, in 2024, the poverty line income for a family of four is $31,200. Using this as a benchmark, you can determine an appropriate multiple to guide your lifestyle choices. By setting these parameters, you can also calculate how much you’ll need for retirement with greater clarity. 2. Gifts to Family Members Another key area is determining how much is enough when giving to children or grandchildren. While it’s natural to want to help, large, unearned gifts can sometimes have adverse effects. Prayerfully discern how to meet the needs of each family member in a way that fosters responsibility and independence. Like Ron Blue has often said: “If I love my children equally, I will treat them uniquely.” 3. Asset Accumulation Finish lines for asset accumulation answer the question: How much is enough for future provision? Without setting limits, resources that could be used for Kingdom impact may remain stalled in a “potential future needs” category. Financial planning helps determine this figure, often incorporating a margin for unexpected circumstances. Catalyzing Kingdom Impact Establishing finish lines within the provision bucket frees resources for the Kingdom impact bucket. These funds can be directed toward generosity, allowing you to partner with God in advancing His work. A Certified Kingdom Advisor (CKA®) can be an invaluable partner in this process. They can provide tools for cash flow management, budgeting, and financial planning to help you discern how much is enough. As you reflect on your financial goals this year, consider setting finish lines in key areas of your provision. Doing so not only brings clarity and peace but also opens the door to greater Kingdom impact. On Today’s Program, Rob Answers Listener Questions: I'm married, but my wife and I disagree on budgeting and spending. I feel we need a budget to manage our money better, but she is more liberal with spending than I am. How can I get us on the same page? I recently bought a car, but now it's not fitting into my budget. The insurance went up, and I have no extra money. I'm worried I'll end up in a hole. Can I return the car or get out of it without hurting my credit? Resources Mentioned: Money and Marriage God’s Way by Howard Dayton Christian Credit Counselors Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC) 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 and American Family Radio . Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.…
Did you know that anxiety disorders are the most common mental illnesses in the U.S. today? You might assume that we have a major anxiety problem just by the number of commercials you see for new medicines to treat these disorders, but is anxiety really a new thing? The Reality Of Anxiety Modern medicine recognizes anxiety in many forms: generalized anxiety disorder, panic disorder, social anxiety, and various phobias. Data shows nearly a third of all U.S. adults will experience some form of anxiety in their lifetime. The cost of treating anxiety disorders in the U.S. runs into the tens of billions of dollars, with an even higher economic impact due to lost productivity. What causes this widespread anxiety? According to the Mayo Clinic , the causes aren’t fully understood but likely include physical and mental health issues, as well as negative life events such as job loss or financial troubles. If you’re struggling with persistent anxiety, it’s crucial to see a doctor. Medication and counseling can be transformative. Jesus’ Teachings On Anxiety Despite appearing like a modern affliction exacerbated by hectic schedules, technology overload, and perhaps even diet, anxiety is not new. We know this because Jesus addresses it in the Bible, particularly Matthew 6 and Luke 12. Matthew 6:25-26 says: “Therefore I tell you, do not be anxious about your life, what you will eat or what you will drink, nor about your body, what you will put on. Is not life more than food, and the body more than clothing? Look at the birds of the air: they neither sow nor reap nor gather into barns, and yet your heavenly Father feeds them. Are you not of more value than they?” Imagine the disciples traveling around Galilee and Judea, relying on donations for their needs. It’s easy to see why they might have felt anxious about where they’d sleep or their next meal. Jesus encourages them to have faith. In Matthew 6:31-33, He says: “Therefore do not be anxious, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ For the Gentiles seek after all these things, and your heavenly Father knows that you need them all. But seek first the kingdom of God and his righteousness, and all these things will be added to you.” Resisting The Love Of Money John Rinehart, founder of Gospel Patrons , explains that Jesus aims to free us from fear and anxiety to be distinct from the world. The world often idolizes money and seeks comfort and security through wealth. While financial planning is important, it shouldn’t be for the sake of leisure alone. Rinehart notes that the world is preoccupied with wealth, which can be perilous for Christians. Jesus warns of this temptation, emphasizing the need to resist the love of money by recognizing our value to God. He made us with a purpose. Jesus instructs us to seek God’s Kingdom and righteousness first, promising our needs will be met. We must actively participate in our provision and trust God to fulfill His promise. When we understand our worth to God, we’ll pursue His Kingdom and boldly share the Gospel, glorifying Him in the process. The Choice We All Have To Make Ultimately, we all face a choice: will we follow the world or seek the Kingdom of God and His righteousness? We can’t do both. As Jesus states in Matthew 6:24: “No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.” Choose God over money and watch the cares of the world fade away. Look At The Sparrows: A 21-Day Devotional from FaithFi If you want to transform your approach to money through faith and find peace in God’s provision, you can purchase a copy of Look at the Sparrows: A 21-Day Devotional on Financial Fear and Anxiety at FaithFi.com/sparrows . This devotional will take you on a journey through Scripture to help you discover how to move from financial fear to a life anchored in trust and generosity. Also, if you become a FaithFi Partner at $35 per month, you can receive our latest studies and devotionals before they are even available to the general public. That’s just our way of saying thank you for supporting the vital work of this ministry. On Today’s Program, Rob Answers Listener Questions: My mom recently passed away, leaving some inheritance to the family. I'm the executor of the estate, and I want to see if there's a godly formula for giving to the church, missions, and retirement and investments. I'm about to lose my job soon, and I have a paid-off condo, but my HOA fees are increasing, and I don't have much savings. I'm considering getting a home equity loan to have money for a down payment on a new home, whether I rent out the condo or sell it. What do you think about that? I've lived in my house for 18 years and am considering selling it. What is home equity, and how can I use it to my advantage when selling the house? Resources Mentioned: National Christian Foundation (NCF) Compassion Gift Catalog Gospel Patrons Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC) 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 and American Family Radio . Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.…
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Faith & Finance
Some people learn from the mistakes of others. Unfortunately, some people have to be the others. Well, you certainly don’t want to be one of the “others” who have to learn things the hard way by making mistakes. Today, we’ll talk to Ron Blue about some of the biggest financial mistakes you want to avoid. Ron Blue is the Co-Founder of Kingdom Advisors and the author of many books on biblical finance, most notably “Master Your Money: A Step-by-Step Plan for Experiencing Financial Contentment.” Setting Financial Goals Without clear financial goals, you're essentially aiming at nothing. Goals help you prioritize and manage your spending effectively. Setting goals provides direction and ensures that your spending aligns with your priorities. Avoiding a Consumptive Lifestyle A consumptive lifestyle involves spending significantly more than necessary, often on things that don’t build financial equity. We all face the temptation of greed—a new car or a dress. Overspending on consumable items leads to a lack of financial growth. Instead, focus on investing in things that build equity and create long-term value. The Pitfall of Greed Greed is often disguised in pursuing the American dream. It's a subtle but pervasive issue. Tim Keller, a well-known pastor, once pointed out that in his experience, greed is rarely confessed as a sin. We often justify our spending under the guise of higher motives, which can lead to financial mismanagement. Avoiding greed starts with creating and sticking to a budget. The Importance of Budgeting Many view budgeting as restrictive, but it's quite the opposite—budgeting is liberating. A budget allows for pre-planned spending, which includes saving for vacations and preparing for emergencies like car repairs or broken appliances. Planning your expenses provides financial freedom and security. Giving: A Key to Financial Freedom Many believe that giving should come from surplus rather than regular income. However, giving is essential for experiencing true financial freedom. It's not about the money but about your heart and willingness to trust and honor God with your finances. By following these principles, you can achieve financial contentment and freedom. On Today’s Program, Rob Answers Listener Questions: I'm 62, and my wife is 56. Due to market concerns, our advisor recommended shifting our portfolio to 50% stocks and 50% bonds a few years ago. We're generally more aggressive investors. Am I missing out on potential earnings by being more conservative? My in-laws are about 80 years old and have some well-matured savings bonds. The last time they used some of the bonds for home upgrades, they got hit with a significant tax bill. Is there anything they can do to move the savings bonds in a way that avoids the tax impact? I just turned 65 in July. I read that the age for collecting full Social Security benefits was pushed back. What is my full retirement age now? And can I still work without affecting my benefits once I reach full retirement age? I'm 72 years old. Last year, I set up charitable contributions from my IRA, but the church I attend is not a 501(c)(3) organization. Does it need to be a 501(c)(3) for me to make those qualified charitable distributions from my IRA? Also, I've been working part-time. How much can I contribute to a Roth IRA this year? Resources Mentioned: Master Your Money: A Step-by-Step Plan for Experiencing Financial Contentment by Ron Blue TreasuryDirect.gov Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC) 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 and American Family Radio . Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.…
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Faith & Finance
"And whatever you do, in word or deed, do everything in the name of the Lord Jesus, giving thanks to God the Father through him." - Colossians 3:17 God created man for His glory. That means everything we do should glorify God, including how we manage money. Chad Clark joins us today to talk about how FaithFi is helping God’s people be more faithful stewards—all for His glory. Chad Clark is the Executive Director of FaithFi: Faith & Finance and the co-author of Look at the Sparrows: A 21-Day Devotional on Financial Fear and Anxiety . Why FaithFi’s Mission Is Crucial Money is more than a financial issue—it’s a heart issue. Chad explained how money and possessions, as seen throughout Scripture, often lead to pride, greed, and idolatry, drawing hearts away from God. This is just as true today as it was in biblical times. Shockingly, a recent study revealed that 94% of Christians do not hold a biblical worldview, highlighting the urgent need for ministries like FaithFi . Our work centers on equipping and encouraging believers to adopt a biblical perspective on money, helping them move from greed and idolatry to generosity and contentment rooted in treasuring God above all else. A Ministry of Impact FaithFi’s mission comes alive through our various initiatives, including: The Faith & Finance Radio Show and Podcast: Reaching over 1.5 million weekly radio listeners across 1,900 stations and 825,000 podcast downloads annually, this program serves as a daily touchpoint for biblical financial wisdom. The FaithFi App: With over 65,000 members, the FaithFi app is a powerful tool for stewardship. Users engage in a supportive community, gain access to biblical financial professionals, and find resources to help them manage what God has entrusted to them wisely. Studies and Devotionals: New resources like Rich Toward God (a study on the Parable of the Rich Fool) and Look at the Sparrows (a devotional addressing financial fear and anxiety) provide deeper opportunities for spiritual growth and transformation. Your Opportunity to Double the Impact As FaithFi continues to expand, we remain committed to equipping Christians to steward their resources for God’s glory. None of this would be possible without the generous support of our listeners and partners. This ministry thrives because of your generosity. Right now, every gift is doubled thanks to a matching challenge that ends tomorrow, December 31. Your support fuels resources like the FaithFi app , radio program , studies, and devotionals —reaching more hearts with God’s truth. Would you prayerfully consider making a gift today? Visit FaithFi.com/impact to make a difference. Together, we can help more believers treasure God above all else and experience the peace and contentment that comes from living generously. On Today’s Program, Rob Answers Listener Questions: I'm retired and converting my traditional IRA to a Roth, following my CPA's advice to go to the top of my tax bracket. I recently learned about accelerated Roth conversions and their potential impact on future taxes, Medicare, and Social Security. I'm not quite an IRA millionaire yet, but I'm getting close. Should I accelerate the Roth conversions, especially before year-end? I turned 66 and a half in June of this year and started receiving Social Security in July. Now that I've reached full retirement age, can I still work and earn unlimited income, or is there a cap on my annual income? I'm a recent high school graduate who will attend college in the fall. I'm deciding whether to get a job and put all the money into savings, living as sparingly as possible, or invest the money to make it work for me during this interim period before college. My husband and I have some basic ideas about teaching our kids, ages 7 to 12, about giving and financial wisdom from the Bible. However, we don't have a structured approach. Do you have any recommended resources or books to guide us in teaching biblical financial principles to kids in this age range? I'm going to be applying for Social Security soon. Is it best to apply for it online, go into the office, or do it by phone? Can I just do the application online? Resources Mentioned: FaithFi.com/impact The Secret Slide Money Club Series by Dr. Art Rainer Open Hands Finance | Compass Financial Ministry SSA.gov Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC) 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 and American Family Radio . Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.…
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