Faith & Finance

Leo Sabo is president of the Christian Stewardship Network and a Faith and Finance contributor. He also knows a thing or two about starting a stewardship ministry.  THE FUNDAMENTAL IMPORTANCE OF STEWARDSHIP MINISTRIES IN CHURCHESBiblical Foundation: Stewardship ministries are vital as they align with biblical teachings about money and possessions, which are prevalent throughout the Bible.Discipleship and Purpose: These ministries guide congregants in using money as a tool for fulfilling their God-given calling and purposes, emphasizing discipleship in financial matters. STEPS FOR ESTABLISHING A STEWARDSHIP MINISTRY IN A CHURCH1. Securing Leadership Support: Begin by gaining the church leadership's endorsement. Emphasize that the ministry's focus is on making true disciples and equipping them, rather than just fundraising.2. Assessing Congregational Needs: Understand the financial needs and desires of the church members through surveys. Tailor the ministry's educational content to these identified needs.3. Team Formation and Training: Assemble a passionate team and provide them with comprehensive training that includes both biblical teachings and practical application.4. Initiating the Ministry: Launch with a significant event, like a seminar or workshop, to establish the ministry's presence and importance in the church community.5. Celebrating and Reporting Impact: Share success stories and regularly report the ministry's positive impact to maintain support and encourage participation. RESOURCES AND SUPPORT FOR CHURCHES INITIATING STEWARDSHIP MINISTRIESChristian Stewardship Network: The network offers a wealth of resources, including training programs and a platform for connecting with other stewardship leaders. Annual Forums and Continuous Learning: They organize events like the CSN Annual Forum and continuously release new courses to keep stewardship leaders updated and equipped.Membership and Community Connection: By joining the network, church leaders can engage with a larger community of stewardship professionals, enhancing their ministry's effectiveness through shared knowledge and experiences. CONCLUSION AND ENCOURAGEMENT FOR PARTICIPATIONImportance of Involvement: Leo Saibot underscores the significance of these ministries and encourages listeners to visit the Christian Stewardship Network for further guidance and resources. ON TODAY’S PROGRAM, ROB ALSO ANSWERS LISTENER QUESTIONS:My 14-year-old son has saved $100 and is asking for advice on how to start smart with his financial life; what would be the best advice for him?I'm contemplating a reverse mortgage for my home valued at over a million dollars, but I'm concerned about the implications and whether it's the best option for my financial situation.I own a rental property and the renter wants to buy it, along with an additional acre of land; I'm considering selling it and need advice on how to handle this transaction and its impact on my finances.I'm looking at downsizing and came across a 'lifestyle home loan' which seems like a reverse mortgage; I want to know if this is a good option for me and what it entails. RESOURCES MENTIONED:Robinhood or Stockpile for fractional shares investingEventide Mutual Funds for faith-based investingMovement Mortgage for evaluating or getting a second opinion on home loans 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.

Tim Macready is head of Global Multi-Asset Investing with BrightLight, an EverSource Wealth Advisors Team. HOW DID YOU BECOME INTERESTED IN AND A LEADER IN THE FAITH-BASED INVESTING MOVEMENT?Tim grew up on the mission field and returned to Australia for studies, initially working with pension plans. His desire to do something meaningful led him to a faith-based pension fund in Sydney. For 15 years, he has explored what it means to be a faithful steward of God's resources, now working with pension funds, investment advisors, and families at the intersection of faith and investing. CAN YOU EXPLAIN THE DIFFERENCE BETWEEN PUBLIC AND PRIVATE MARKETS IN INVESTING?Private markets differ from public markets in investment structures, using vehicles like private market funds, real estate investment trusts, and limited partnerships instead of mutual funds, stocks, and ETFs. These are typically aimed at more experienced investors with larger investment sizes and hold various assets such as venture capital, private equity, or private credit. HOW DO PRIVATE MARKET INVESTMENTS OFFER DIVERSIFICATION?Private markets are used by large investors to diversify into different types of assets and specific themes. These investments are becoming more accessible to smaller investors, offering diversification away from traditional public stocks and bonds. HOW DO FAITH-BASED INVESTMENTS INTERSECT WITH PRIVATE MARKETS?Initially, there were hardly any faith-based options in private markets, but now there are 50 to 100 faith-based private market funds and hundreds more in broader impact investing. Most are still for qualified or accredited investors, but I'm optimistic that faith-integrated private market investments will become available to everyday investors soon. WHAT ARE THE RISKS AND POTENTIAL PERFORMANCE OF PRIVATE MARKET INVESTMENTS?Investors should be aware of risks, especially liquidity, as private market funds cannot be sold as quickly as public stocks or bonds. Private markets can have more volatile performance due to concentrated portfolios but offer diversification and potential for investment outcomes independent of public markets. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I'm a 76-year-old single woman with a home valued over a million dollars, $80,000 in cash, and $2,000 monthly from Social Security. I enjoy a good lifestyle but am unsure about my financial future and options.I own a rental property adjacent to my home and the renter wants to buy it, along with an additional acre of land. Should I sell it as one parcel to maximize capital gains, and how can I transition from this passive income?I'm currently employed full-time but struggling to make ends meet and pay off debts, including credit cards and a personal loan. I'm considering taking out a loan to invest in a cryptocurrency business for additional income. RESOURCES MENTIONED:Movement MortgageChristian Credit Counselors 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 CREATION AND EXPECTATIONS:God created humanity in His image, as reflected in Psalm 139:13 and Ephesians 2:10. These Scriptures emphasize His intention for His people to live justly and righteously. THE REALITY OF FINANCIAL INJUSTICE:The world, marred by sins such as greed, envy, dishonesty, and pride, often leads to the unfair financial exploitation of others, a stark reality that Christians must recognize. BIBLICAL WARNINGS AGAINST FINANCIAL INJUSTICE:The Scriptures provide clear warnings against various forms of financial injustice:Proverbs 22:16 and 14:31 caution against oppressing the poor, teaching that such actions lead to poverty and are an insult to God.Proverbs 20:10 denounces dishonesty in transactions, labeling unequal weights and measures as abominable to the Lord.Psalm 12:5 reflects God's concern for victims of robbery and embezzlement, assuring His protection and support.Exodus 23 explicitly forbids false testimony and bias in legal matters, underscoring the importance of integrity in financial dealings. CONSEQUENCES OF INJUSTICE:Galatians 6:7 tells us that God is not mocked; individuals will reap the consequences of their actions, highlighting the seriousness of engaging in injustice. CHRISTIAN RESPONSE TO INJUSTICE:In confronting sin within the community, Christians should adhere to Jesus' instructions in Matthew 18.Reporting legal wrongdoing to authorities is a necessary step when witnessing financial misconduct.Prayer is a powerful tool for addressing injustices beyond one's immediate influence, seeking God's intervention for the oppressed and the exposure of evil.Victims of financial injustice are encouraged to seek resolution through church or secular authorities and to expose fraudulent activities to prevent others from being victimized. MAINTAINING PERSONAL INTEGRITY:In cases of personal discrimination or unkindness, upholding one's integrity is crucial. Psalm 41 offers solace, affirming God's support for those who maintain their integrity.Jesus' assurance in John 16:33 provides comfort in the midst of worldly injustices, reminding believers of His ultimate victory. CONCLUSION:We wrap up our thoughts on financial injustice with a reminder from Micah 6:8 that Christians are expected to “… act justly and to love mercy and to walk humbly with our God. “ ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I've been diagnosed with cancer and plan to retire this year; my wife will continue working. How should I manage my finances, including $500,000 in a 401k and the option of taking Social Security now or later?I'm 66 years old and recently moved from my home to a rental. I'm enjoying renting but wonder if there's a benchmark for when it's wise to step back into homeownership.Should I pay a tithe on my Social Security income, and if so, how do I calculate the right amount to give?Where can my son and his wife go for budgeting assistance? RESOURCES MENTIONED:Certified Christian Financial Counselors 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.

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 and use of personal data for advertising.

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.