Faith & Finance

Major changes are likely coming for the U.S. economy. Will you be ready for them?We have a new president who’s pledged to overhaul the economy. How will that affect investors and the markets? Mark Biller joins us today with a plan for managing “anticipated disruption.”Mark Biller is Executive Editor and Senior Portfolio Manager at Sound Mind Investing, an underwriter of Faith & Finance. Learning from the Past: Market Trends in ReviewBefore diving into predictions, it’s essential to recognize the value of reviewing recent market trends. Forecasting is often unreliable, so Sound Mind Investing focuses on building robust portfolios that can withstand a variety of market conditions.Key Observations from 2024:Strong Stock Market Performance: 2024 was a banner year for stocks.Struggles in Bonds: Higher long-term interest rates created challenges for bond investors.Rather than predicting, SMI uses trend-following strategies, aligning portfolios with market behavior to enhance resilience against uncertainties.What Could End the Bull Market?Bull markets typically end due to two primary catalysts:Federal Reserve Rate Hikes: With recent rate cuts, a pivot to hikes seems unlikely.Economic Recessions: Despite fears, current conditions—strong GDP growth, low unemployment, and robust balance sheets—make a near-term recession improbable.However, investors should remain prepared for routine market corrections (10-15%), which are typically short-lived and not worth major portfolio adjustments.Trump 2.0: Policy Changes and Market ImpactsPresident Trump’s second term brings both optimism and uncertainty. Business-friendly policies like tax cuts and deregulation are expected to boost growth, but his stance on disrupting global free trade could create volatility.Key Policy Areas to Watch:Immigration and Tariffs: Potential economic implications tied to trade disruptions.Deficit Reduction: Balancing growth-oriented spending with inflationary risks.Energy and Taxes: Initiatives that may shape inflation and economic growth dynamics.Wall Street’s response will likely depend on how aggressively these policies are implemented. While markets thrive on stability, Trump’s approach could introduce significant fluctuations.The National Debt: An Ongoing ChallengeReducing the national debt remains a pressing issue, but Mark is skeptical about achieving a balanced budget in the short term. Growth-driven strategies may help manage deficits, but cutting government spending poses immediate challenges for economic momentum.Staying the Course Amid UncertaintyWith many moving parts, confidently predicting cumulative economic and market outcomes is impossible. However, investors should:Stick to long-term plans.Maintain proper diversification.Continue regular contributions to retirement plans.The focus should remain on steady progress toward financial goals rather than reacting to short-term disruptions.For a deeper dive into these topics and actionable strategies, read Mark’s full article, “Trump 2.0: Using Objective Investing Models to Guide Us Through Anticipated Disruption.” This article offers a clear framework for understanding the potential market impacts of Trump’s second term while encouraging a disciplined investment approach.On Today’s Program, Rob Answers Listener Questions:My husband and I are researching long-term care options as we prepare to retire. We've considered long-term care insurance or an annuity with a long-term care rider, but we're having trouble deciding which is best for our situation. Do you have any recommendations?Resources Mentioned:Faithful Steward: FaithFi’s New Quarterly PublicationTrump 2.0: Using Objective Investing Models to Guide Us Through Anticipated Disruption by Mark Biller (Sound Mind Investing Article)Sound Mind InvestingLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

"The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty." - Proverbs 21:5That verse is often used to encourage people to avoid “get rich quick” schemes and other risky investments. However, it also conveys a message about budgeting. Dr. Shane Enete joins us today to discuss why budgeting is a form of worship.Dr. Shane Enete is an Associate Professor of Finance at Biola University and the author of the brand new book, “Whole Heart Finances: A Jesus-Centered Guide to Managing Your Money with Joy.”Why Do People Dislike Budgeting?Many people react negatively to the idea of budgeting. A CNBC article titled "People hate budgeting" spotlighted a financial professional who observed that over 60% of her clients felt as though they were "literally going to suffer" at the mere mention of budgeting. The misconception that budgeting is about reducing spending or losing freedom often drives this aversion. In reality, budgeting is a tool for aligning financial resources with personal and spiritual goals.Look at King David, for example, during his preparation for building the temple in 1 Chronicles 28–29. David’s detailed planning and joyful devotion in allocating resources for God’s temple exemplify budgeting as an act of worship. He saw his financial planning as a way to serve God and inspire others to do the same. This narrative offers a powerful reminder that budgeting can be a means of glorifying God and building His kingdom.Budgeting as IntentionalityA Plan for WorshipBudgeting is not about limiting joy but enhancing it by intentionally aligning financial decisions with God’s purposes. As stewards of God’s resources, we are called to manage money in ways that reflect His generosity and character. Daily Acts of GratitudeTracking expenses can become a form of worship. We develop a heart of gratitude by regularly acknowledging God’s provision—even mundane payments like utility bills or DMV fees. This practice shifts our mindset from entitlement to stewardship, deepening our reliance on God. Aligning with God’s HeartRegularly reviewing and planning financial decisions enables us to grow closer to God’s heart. As stewards, we are responsible for managing resources according to His will. This intentionality creates financial margins that foster generosity, resilience, and a greater impact for His kingdom.Breaking the Power of Money Through GenerosityBudgeting also unlocks the potential for generosity. As Ron Blue has said, “Giving breaks the power money can have over us.” By setting financial priorities, we can intentionally allocate resources to support others and further God’s work. William Wilberforce, a British politician, philanthropist, and movement leader to abolish the slave trade, once said, “By careful management, I should be able to give at least one-quarter of my income to the poor.” This kind of strategic generosity reflects a heart fully surrendered to God.A Transformative View of BudgetingBudgeting, when seen through the lens of worship, shifts from being a dreaded task to a joyful act of devotion. It enables us to live intentionally, reflect God’s character, and manage His resources wisely. By embracing this perspective, we not only honor God but also experience the freedom, joy, and resilience that come from living as faithful stewards.If you’d like to dive deeper into this topic, check out Dr. Shane Enete’s article, Budgeting as Worship, in the quarterly publication Faithful Steward. You can receive this resource by becoming a partner at FaithFi.com/give.On Today’s Program, Rob Answers Listener Questions:I waited until full retirement age to start collecting Social Security, and I still work full time. My wife is past full retirement age but has not started collecting her Social Security yet. If she collects from my Social Security, will that interfere with my benefits now or in the future?If I retired at 67 and got the full Social Security benefit, our only significant expenses would be our first and second mortgages. Would it be worth withdrawing big chunks from the inheritance money my mother left me and my brother so we could free up and live on $1,200 extra dollars a month?Resources Mentioned:Faithful Steward: FaithFi’s New Quarterly PublicationWhole Heart Finances: A Jesus-Centered Guide to Managing Your Money with Joy by Dr. Shane EneteLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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 IncomeMost 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 Expenses1. Downsize Your HomeIf 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 CostsWithout 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 PoliciesSome 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 DebtCarrying 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 GiveRetirement 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 PublicationLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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 RisksThe 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 UnemploymentDoll 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 CutsInflation 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 SpreadsTreasury 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 GrowthDoll 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 VolatilityAfter 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 CorrectionDoll 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 PortfoliosDoll expects equal-weighted portfolios to outperform cap-weighted ones as the dominance of mega-cap stocks like the “Magnificent Seven” wanes.8. Value Outperforms GrowthAfter years of underperformance, value stocks are projected to outshine growth stocks, driven by cheaper valuations.9. Top Performing SectorsDoll 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 RegulationWith 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 ChallengesEfforts 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 2025Doll 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 PublicationCrossmark Global InvestmentsBankrateChristian Community Credit Union (CCCU)Look At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

“Give me neither poverty nor riches, but give me only my daily bread.” - Proverbs 30:8Every 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 ContentmentPaul’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 LackPaul’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 PerspectiveInstead 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 SpotPaul’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 WorldContentment 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 PublicationCompass Financial Ministry | Your Money Counts ConferenceOpen Hands FinanceLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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 PrayerBefore 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 CertificateThe 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 ProcessTake 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 AdvisorsInform 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 PoliciesContact 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 AgenciesEnsure 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 TaxesThe 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 PublicationMovement MortgageNational Christian Foundation (NCF)Look At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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 Give1. Guilt Shouldn’t Be Your MotivationMany 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 ChurchSometimes, 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 GivingGenerosity 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 GivingTo develop a heart of biblical generosity, consider these principles:1. Make Giving a PriorityProverbs 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 GivingIn 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 CheerfullyAs 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 GiveBefore 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 PublicationBetterment | Schwab Intelligent PortfoliosLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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 ShiftFinancial 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 MeansOnce your mindset is aligned, it’s time to take action. Here are some practical steps to help you live below your means:1. Build MarginHaving 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 SpendingKnowing 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 WinsBudgeting 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 ExpensesStretch 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 ItemsIf 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 IncomeIf 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 PublicationNerdWalletLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

“The way of a fool is right in his own eyes, but a wise man listens to advice.” - Proverbs 12:15It’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 AdultMoney 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 RetirementMany 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 GivingSome 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 SavingsManually 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 BiblicallyOpen 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 PublicationOpen Hands FinanceLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

At 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 DebtCredit 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 ManagementManaging 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 FreedomIf 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 PublicationChristian Credit CounselorsOpen Hands FinanceLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.