Faith & Finance

“Where there is no guidance, a people falls, but in an abundance of counselors there is safety.” - Proverbs 11:14The words of that verse apply to all areas of Christian life, including financial stewardship. According to God's financial principles, good counsel is important for managing His money wisely. Dr. Art Rainer joins us today to talk about it.Dr. Art Rainer is the founder of the Institute for Christian Financial Health and Christian Money Solutions. He is a regular contributor here at Faith & Finance and the author of Money in the Light of Eternity: What the Bible Says about Your Financial Purpose.What Does a Certified Christian Financial Counselor (CertCFC) Do?Certified Christian Financial Counselors (CertCFCs) are trained to help individuals and couples with immediate financial challenges. Using biblical principles, they guide people in key areas such as:Budgeting effectivelyEliminating debtBreaking free from paycheck-to-paycheck livingSaving for future expensesLiving generouslyTheir goal is to equip you with practical tools and spiritual insights so that you can manage your money in accordance with God’s design.Rigorous Training for a Biblical ApproachBecoming a CertCFC involves a comprehensive training program covering topics like:Biblical stewardshipDebt elimination strategiesSaving and budgeting principlesTo earn the designation, candidates must pass a 100-question, two-hour examination. This rigorous process ensures they’re well-prepared to provide high-quality guidance that is both practical and biblically sound.Counselor vs. Advisor: What’s the Difference?One common question is the difference between financial counselors and financial advisors. Here’s a quick breakdown:Financial Advisors: Focus on long-term planning, including investments, retirement, and tax strategies.Certified Christian Financial Counselors (CertCFCs): Address immediate financial concerns, helping clients overcome challenges like debt and budgeting.If you’re looking for help with every day financial issues, a CertCFC is the right fit.A Calling to Help OthersIf you’re passionate about biblical financial stewardship, becoming a Certified Christian Financial Counselor might be your next step. CertCFCs serve in various capacities, including:Running a private financial counseling practiceServing in their local churchCombining both approaches to reach more peopleThere is a significant need for more counselors to help individuals align their finances with God’s principles.What to Expect When Working with a CertCFCWhen you meet with a Certified Christian Financial Counselor, you’ll find a supportive, empathetic partner who listens to your story and provides practical, biblically-based solutions. Typical sessions last about an hour and include:A review of your financial challengesEncouragement and guidance grounded in ScriptureActionable steps to move forwardYou’ll leave with real tools and a renewed sense of hope for managing your money God’s way.Ready to Take the Next Step?Whether you’re looking for financial guidance or feel called to help others as a counselor, the Certified Christian Financial Counselor (CertCFC) program offers the tools and training you need. For more information, visit ChristianFinancialHealth.com.On Today’s Program, Rob Answers Listener Questions:We’ve recently discussed what we will do for our health care and need something covering pre-existing conditions. Do you guys have any recommendations on what we could go through or anything we can look into?I've recently invested in goldbacks and see more states joining. What are your thoughts on those, and is it a good idea to invest right now?I inherited a house with my sister worth $300-350,000. I lost my job, so I wouldn't qualify for a loan to buy out my sister's portion. I have unemployment and a 401(k) I could convert to an IRA. I'll be getting Social Security in February. Should I try to buy out my sister or just sell the house?Resources Mentioned:The Institute for Christian Financial HealthHealthcare.govChristian Healthcare Ministries (CHM)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.

As Thanksgiving week reminds us of the many blessings we enjoy, it’s natural to reflect on gratitude. But does gratitude naturally lead to generosity? Leo Sabo joins us today to discuss three things your pastor wishes you knew about giving.Leo Sabo is the President of the Christian Stewardship Network (CSN), where he gets to share the incredible impact financial stewardship and generosity can have on the Church. 1. Giving Has Spiritual BenefitsYour pastor wants you to know that giving is deeply tied to your spiritual growth. It’s not just about meeting church needs—it’s about discipleship and trust in God. Learning to surrender your finances to God is a major step in your faith journey.A Holistic View of Stewardship: Generosity encompasses more than money. It includes your time, talents, and treasures. Your pastor hopes you'll see giving as a condition of the heart, not just a financial act.100% Belongs to God: Some believe tithing is the only portion of our money that matters to God, but your pastor wants you to see all your resources as belonging to Him. True stewardship involves inviting God to have authority over everything you own.An Act of Worship: Giving is not a "membership fee" for the church. It’s an act of worship that overflows from a heart grateful to God.2. Stewardship Is DiscipleshipStewardship—responsibly managing your resources—is a key aspect of your faith. Many pastors offer financial management courses to help members learn biblical principles for saving, budgeting, avoiding debt, and investing.Why Stewardship Matters: Jesus frequently taught about money because how we handle it reveals the condition of our hearts. Faithful stewardship fosters generosity and aligns our financial decisions with God’s will.Programs for Your Growth: Churches often provide financial programs to equip members for wise money management. Pastors want you to know these resources are offered out of love and desire to see you spiritually and financially flourish.3. Transparency and Accountability Are CrucialIn today’s world, donors increasingly value financial transparency and accountability. Your pastor understands this and prioritizes using your gifts responsibly.Building Trust: Transparency reassures members that their generosity funds vital ministries like teaching, worship gatherings, and community outreach.The Church’s Responsibility: Churches rely solely on donor support, and your pastor wants you to feel confident that your gifts are being used to advance God’s kingdom in meaningful ways.Turning Gratitude Into ActionThis Thanksgiving, let your gratitude inspire generosity. Giving is more than a financial transaction—it’s a spiritual act that draws us closer to God. By embracing these principles of stewardship, you can experience the joy and freedom that come from trusting God with your resources. May your giving reflect a heart of worship, and your stewardship bring glory to the One who owns it all.If you're inspired to grow in generosity or want to start a stewardship ministry in your church, the Christian Stewardship Network offers tools and guidance for launching and managing effective stewardship programs. Visit ChristianStewardshipNetwork.com for more information.On Today’s Program, Rob Answers Listener Questions:I have a 36-year-old granddaughter who is a single parent with a low income and a 660 credit score. She was going to have to move but doesn't have to now. I was planning to give her $11,000 for a down payment, but she also has a $300/month car loan with 4 years left. Would it be better to use the $11,000 to pay off her car loan instead? Would that help improve her credit and give her extra cash to save for a home?I recently received a $25,000 gift and have put it into a savings account earning 4.5% interest. Should I take that $25,000 and put it back into my investment portfolio instead of leaving it in my savings account? I currently have three months' expenses saved as an emergency fund. What would be the better approach—keeping the $25,000 in the high-yield savings account or investing it?I'm 20 years old and have a $250,000 mortgage at 2.6% interest. I have $5,000 left each month—$4,000 goes to high-yield savings and $1,000 to retirement. Should I focus on paying down the mortgage quickly or continue investing the extra funds since market growth has been good?Resources Mentioned:Bankrate.comChristian Stewardship NetworkLook 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.

With mortgage rates fluctuating, now might not seem like the perfect time to buy a home, but it’s an ideal time to prepare, especially for first-time homebuyers. Movement Mortgage recently shared helpful tips on FaithFi.com for those looking to enter the housing market. Here’s a breakdown of these critical steps to set you up for a successful and financially wise home purchase.Step 1: Determine Your Budget—And Keep It ConservativeFirst things first, know what you can afford. It’s wise to set a sale price and monthly payment that’s less than the maximum a lender or loan calculator may suggest. Keeping a buffer in your budget allows for unexpected costs and helps you avoid financial strain. As Proverbs 21:20 says, “Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.”Step 2: Set a Savings Goal for Your Down PaymentWhile a 20% down payment isn’t always required, it has some major benefits:Reduces the loan amountEliminates private mortgage insurance (PMI)It gives you enough equity to sell if unforeseen circumstances ariseIf you can’t reach 20%, aim to save as close as possible for these advantages.Step 3: Budget for Additional CostsBeyond the down payment, remember incidental costs, like:Property and pest inspectionsMoving expensesEssential appliances (like a fridge or washer/dryer), if not provided by the sellerPlanning for these helps avoid last-minute financial surprises.Step 4: Check Your CreditMost mortgage lenders prefer a credit score between 700 and 750, with 740+ often unlocking the best rates. Here’s how to optimize your score:Review your credit report and dispute any errorsPay down debts to keep balances below 30% of your available creditAvoid any new credit inquiries, as “hard pulls” can impact your scoreStep 5: Lower Your Debt-to-Income (DTI) RatioEven with a great credit score, high debt levels could result in a mortgage denial. Try to reduce any debt you can, like paying off a car loan, to improve your DTI ratio and increase your mortgage eligibility.Step 6: Maintain a Clear Paper TrailLenders will closely scrutinize your transaction history, so avoid moving money between accounts for at least three months before applying. Any large transfers could complicate the process, as lenders must verify that your assets are not borrowed. If you’re expecting a cash gift, consult a loan officer for guidance. Specific documentation may be needed to confirm that the money is a gift, not a loan.Step 7: Pay Off Outstanding Tax DebtsIf you owe back taxes and are on a payment plan, prioritize paying these off. Outstanding tax debts affect your DTI ratio and could lead to complications with lenders, as tax liens can take priority over other debts.Step 8: Stay at Your JobLenders look for employment stability, so if you’re considering a job change, it’s best to hold off until after you buy the home. Having at least two years at your current job can reassure lenders and improve your chances of securing a mortgage.Need More Help? Connect with Movement MortgageMovement Mortgage offers guidance for each step of the home-buying process, helping you make informed financial decisions. Additionally, they’re a faith-based company dedicated to philanthropic causes, having donated $377 million to educational and infrastructure projects in underserved communities. To learn more, visit Movement.com/faith.These steps can help you confidently prepare for your first home purchase, ensuring you’re financially and practically ready when the time comes.On Today’s Program, Rob Answers Listener Questions:I would appreciate your thoughts on tithing from my portfolio gains or income.Can you borrow from a long-term health insurance policy?I have $10,000 in a CD and am trying to decide whether to use it to pay down my debt.Resources Mentioned:Movement MortgageNational Christian Foundation (NCF)Christian Credit CounselorsChristian Healthcare Ministries (CHM)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.

There’s a great investing option out there, and chances are, it’s not in your portfolio.That option is Exchange-Traded Funds or ETFs, and they’re worth considering. Brian Mumbert joins us today to discuss the advantages of ETFs.Brian Mumbert is Vice President and Regional Sales Executive at Timothy Plan, an underwriter of Faith & Finance.What is an ETF?An Exchange-Traded Fund (ETF) is an investment option similar to a mutual fund but with distinct features. ETFs typically follow an index, such as the S&P 500 or NASDAQ, and are not actively managed. This means that an ETF holds a broad mix of investments, providing diversification that tracks the chosen index. One key advantage is that ETFs, like stocks, can be traded throughout the day, allowing investors to buy or sell at the current market price.How Do ETFs Differ from Mutual Funds?Unlike mutual funds, where the exact purchase price isn’t known until the end of the trading day, ETFs offer real-time pricing. This flexibility allows investors to trade whenever they choose during market hours. Additionally, mutual funds may pass on capital gains taxes to investors due to asset sales by fund managers, but ETFs generally avoid this by trading “baskets” of stocks, potentially reducing tax liability.Transparency and Tax AdvantagesETFs offer high transparency, with daily disclosures of their holdings. This transparency is a significant benefit for investors who prioritize clarity in where their money goes. Tax advantages are another key feature; ETFs often avoid capital gains taxes, which can be passed on to mutual fund holders, especially during high turnover periods.Faith-Based Screening for ETFsTimothy Plan applies the same rigorous faith-based screening to its ETFs as it does to its mutual funds. These screenings filter out companies that conflict with Christian values. While ETFs are passively managed, which can mean a slight delay in removing non-compliant holdings, Timothy Plan flags them for removal to ensure alignment with their mission. This gives investors peace of mind, knowing their ETF investments are held to the same ethical standards as other Timothy Plan products.Lower Cost, Greater AccessibilityETFs offer a lower expense ratio than some mutual funds for investors looking for a cost-effective entry into faith-based investing. This affordability can make ETFs an attractive option for individuals who may be deterred by higher fees and a practical choice for adding diversified exposure to one’s portfolio.Visit TimothyPlan.com for more details on Timothy Plan’s offerings, including faith-based ETFs and mutual funds. With over 30 years of experience, Timothy Plan provides a reliable option for investors who want to align their finances with their faith.On Today’s Program, Rob Answers Listener Questions:I'm 60 years old and want to retire early at 62. Before I do that, I'd like to pay off my house. Is that advisable?My son has started a new sales outside sales position and will receive a base salary. How can I advise him on how to begin a budget and maintain it when you have commission as your primary source of income?I was wanting to find out about a book you mentioned. I think it was for widows for budgeting who may not know how to do that, per se. What is the title of that book?We're revising our wills and deciding how much to give to our heirs and charity. What counsel do you have on how to make that decision?Resources Mentioned:Timothy PlanWise Women Managing Money: Expert Advice on Debt, Wealth, Budgeting, and More by Miriam Neff and Valerie Neff Hogan, JD.Splitting Heirs: Giving Your Money and Things to Your Children Without Ruining Their Lives by Ron BlueLook 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.

Did you hear about the guy who paid his taxes to the IRS with a smile? It didn’t work out, though—it turns out they prefer money.Well, paying taxes is certainly no laughing matter, and we don’t want to miss something that could end up costing us money. Fortunately, Kevin Cross is here today with a list of year-end tax tips you don’t want to miss.Kevin Cross is a Certified Public Accountant (CPA) who has headed CPA firms in Florida and now Georgia. He has studied the tax code extensively and specializes in representing taxpayers before the IRS. 2024 Year-End Tax StrategiesAs the end of 2024 draws near, these are some critical financial moves that can help you maximize your tax savings: 1. Review Withholding and Estimated PaymentsThe first step in year-end tax prep is to check how much you’ve paid in taxes this year. Avoid underpaying (which leads to penalties) or overpaying (which gives the government an interest-free loan on your money). For those behind on withholding, consider adjusting your remaining paychecks to make up the difference.2. Max Out Retirement ContributionsContributing to a retirement account like a 401(k) or IRA is one of the best ways to lower your taxable income. For high-income earners, consider a “backdoor Roth IRA”—a strategy involving non-deductible IRA contributions converted to a Roth IRA, providing tax-free growth.3. Optimize Charitable ContributionsCharitable giving is a powerful tax strategy, especially if you bundle multiple years of contributions. By “bunching” donations, you may surpass the standard deduction threshold, allowing you to itemize and benefit from your generosity. A donor-advised fund (DAF) can streamline this process, allowing you to make a large donation this year and distribute it to charities over time.4. Donate Appreciated AssetsConsider donating appreciated stocks or mutual funds to avoid paying capital gains tax on the appreciation. For example, if you bought stock for $1,000 and it’s now worth $1,500, donating it allows you to deduct the full $1,500 without incurring capital gains tax on the $500 gain.5. Qualified Charitable Distributions for IRA HoldersFor those 70½ or older, Qualified Charitable Distributions (QCDs) from an IRA allow you to donate directly to charity without counting the distribution as taxable income. This is particularly helpful if you’re taking the standard deduction.6. Take Advantage of Section 121 Exclusion on Home SalesSection 121 of the tax code allows homeowners to exclude up to $500,000 in capital gains (for married couples) when selling their primary residence, provided they’ve lived in it for at least two of the last five years. This is a significant opportunity for those considering selling their homes in a high-appreciation market.7. Avoid Underpayment PenaltiesQuarterly estimated payments are essential to avoid IRS interest and penalties if you're self-employed or a gig worker. Failure to pay quarterly could result in a penalty that acts like interest on unpaid taxes, making it costlier than paying in installments.8. Don’t Ignore Past Tax IssuesIf you’re behind on tax filings or payments, now’s the time to act. Many individuals feel overwhelmed, but taking the first step to seek professional help can bring peace and clarity. We advise you to contact a CPA with IRS experience to assist with this process.These strategies can help you make the most of tax season and avoid paying more than necessary. Remember, the tax code is complex, and each situation is unique, so consulting with a CPA, especially one experienced in IRS negotiations, can provide personalized guidance. On Today’s Program, Rob Answers Listener Questions:I have some rental properties that I'm worried will be sold for cheap at auction after I'm gone since my kids in California don't want to return to Arkansas. Should I sell the properties and put the money in a trust for my grandkids' education?I'm contributing 15% of my income to my 401(k), and my employer matches 5%. But I'm trying to build up my emergency savings, and I'm only at about two months' worth right now. Should I stop contributing to my 401(k) for now so I can focus on getting my emergency fund up to 6 months' expenses?Resources Mentioned:Kevin Cross, CPANational 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.

They say that winners never quit and quitters never win, but that’s not really true, is it? What if you’re trying to quit a bad habit?It’s not only okay to quit a bad habit; it’s something we should always strive to do—especially with investing. Mark Biller joins us today with a list of bad habits you should quit if you find yourself doing them.Mark Biller is Executive Editor and Senior Portfolio Manager at Sound Mind Investing, an underwriter of Faith & Finance. Go Ahead, Be a QuitterIn a recent article titled “Go Ahead, Be a Quitter” at SoundMindInvesting.com, six bad investing habits are discussed as they explain why quitting them can lead to better financial outcomes.1. Quit Standing on the SidelinesOne of the worst habits in investing is not starting at all. Time is crucial for building wealth, thanks to the power of compound interest—often referred to as the “8th wonder of the world.” Investing in well-managed, growing businesses, primarily through stocks, has historically provided returns that outpace inflation. So, instead of staying on the sidelines, become a part-owner of corporate America by investing.2. Quit Waiting for a “Low-Risk” Entry PointTrying to time the market is nearly impossible. Waiting for the “perfect” moment often means missing out on valuable time in the market. Over any five-year period, a diversified stock portfolio rarely loses money and frequently produces high returns. Consistency and patience, rather than timing, are the true keys to long-term growth.3. Quit Looking for a Reason to SellEvery financial expert seems to have a new doom-and-gloom prediction, but tuning into this noise can hurt long-term gains. Inflation—not market downturns—is often the biggest threat to wealth, and stocks are one of the best defenses against inflation. Instead of looking for reasons to sell, commit to investing long-term and avoid unnecessary panic.4. Quit Making Things ComplicatedAvoid drowning in economic forecasts, technical analyses, and frequent trades. Instead, pick solid investments and hold on to them. The simpler your approach, the easier it will be to stay the course.5. Quit Obsessing Over Short-Term ResultsChecking your portfolio daily can lead to emotional highs and lows, tempting you to trade based on short-term results rather than long-term goals. Instead, limit your portfolio checks to avoid unnecessary stress and stay focused on your broader financial objectives.6. Quit Worrying—Trust and Invest with PeaceInstead of letting fear drive your investment decisions, remember 2 Timothy 1:7: “God has not given us a spirit of fear, but of power and of love and of a sound mind.” Trust in God’s provision, follow His principles, and invest from a place of peace rather than anxiety.For more on these principles, check out his full article, “Go Ahead, Be a Quitter,” at SoundMindInvesting.org.On Today’s Program, Rob Answers Listener Questions:I'm considering withdrawing $20,000 to $30,000 from our $148,896 IRA to help purchase a new one-floor home for my husband. What are your thoughts on this, and what would the tax implications be?I need some money to keep safe and liquid, as the high-yield interest rates I've been getting are about to go down. I may need to use this money to buy my mom's house for my sister in the future. What would you recommend as a safe investment option that can still provide a decent yield while keeping the money accessible?My wife and I are looking to invest in a faith-based way, focusing on index funds and ETFs. Do you have any specific low-cost, faith-aligned recommendations we could consider for our investment portfolio?I want to share how reading the True Riches book has changed my husband's and my approach to finances as a church. We've canceled our Amazon Prime membership to reduce materialism, and we're learning to be more intentional with our spending and generous beyond tithing. The book has really shifted our mindset to a kingdom-focused perspective on managing our resources.Resources Mentioned:True Riches: What Jesus Really Said About Money and Your Heart by John Cortines and Gregory BaumerGo Ahead, Be a Quitter (Article by Sound Mind Investing)Eventide Asset ManagementList of Faith-Based Investment FundsLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more 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.

You’ve heard of the Great Wealth Transfer taking place as Baby Boomers pass away, but did you know that women will inherit the majority of those assets?It’s true. The Great Wealth Transfer is really horizontal, with widows inheriting most private wealth before it’s passed on to the next generation. Sharon Epps joins us today to talk about how women should prepare.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.Women as the Primary InheritorsOne surprising fact is that women will inherit the majority of this wealth. Since women typically outlive men by about six to seven years, nearly 70% will experience widowhood and manage their spouse’s share of assets. In addition to inheriting from their husbands, many women will also receive an inheritance from their parents, and, increasingly, they are generating their own income through employment. This convergence of income streams will place an estimated two-thirds of U.S. assets—around $30 trillion—under women’s control by 2030, according to McKinsey & Company.The Heart of Generosity: Purpose, Passion, and PlanThe wealth transfer isn’t just about financial assets; it’s a significant opportunity for generosity. Three key factors inspire generosity: purpose, passion, and planning.Purpose: A strong sense of purpose can motivate people to give more. Research from Women Doing Well revealed that women who score high on purpose tend to donate around 14% of their income, compared to 9% for those with lower purpose scores.Passion: Passion for a cause often stems from personal experiences of pain or suffering. This deeply held belief leads people to make sacrificial giving decisions. When people align their hearts with God’s, they are inspired to give courageously and with conviction, connecting their generosity to meaningful experiences.Planning: Effective financial planning is essential for generosity, especially for women who aspire to give more but may lack the structure to manage their finances for greater impact. Financial planning and passion must work hand-in-hand to create a lasting legacy of giving.Building a Generous Legacy: Preparing for Wealth ResponsibilityWith the responsibility of managing inherited wealth, women must be equipped with spiritual foundations and financial wisdom. Three main influences support women’s generosity:Understanding that God owns it all.Personal spiritual disciplines like Bible study and prayer.Receiving teaching on stewardship.When women embrace these principles, they can approach wealth with a mindset of stewardship rather than ownership, seeing it as a resource to bless others.Women and Collaborative GivingWomen often approach giving differently than men, preferring collaboration and community. Studies from the National Christian Foundation show that women are twice as likely to participate in collaborative giving, pooling resources with others to maximize their impact. Women seek transformational experiences rather than merely transactional ones, often using giving as a means to disciple their families and build stronger connections within their communities.For women looking to embrace generosity and connect with like-minded individuals, we recommend organizations such as Women Doing Well, Generous Giving, and the National Christian Foundation (NCF). These groups offer opportunities for women to strategize, collaborate, and grow in their giving journey.Embracing Generosity as a Lasting LegacyAs the wealth transfer unfolds, the unique generosity of women presents an unparalleled chance to impact future generations. For those who steward this opportunity with purpose, passion, and a solid plan, the legacy of giving can become not only a financial blessing but a tool for discipleship and transformation.Connecting with organizations and communities that support women’s giving can help women maximize this historic moment and courageously and convictionally live out the principles of generosity.On Today’s Program, Rob Answers Listener Questions:I'm 75, and my husband is 78. If he passes away, I'll lose about $4,000 per month in income. I have $2,800 from teacher retirement, $662 in social security, and $2,000 from a 403(b). I've saved $80,000 and can save an extra $4,000 monthly. I'm concerned about managing the $4,000 income drop and what to do with the $80,000 I've saved.My wife and I own two homes—one is a rental property I moved out of in 2022. We're trying to determine the best time to sell both properties and how to maximize the capital gains exclusion, especially since we both had primary residences prior to getting married in 2022.Resources Mentioned:Generous GivingNational Christian Foundation (NCF)Women Doing WellLook 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.

“A soft answer turns away wrath, but a harsh word stirs up anger.” - Proverbs 15:1That verse reminds us to keep a cool head when we experience conflict or crisis in a relationship—and maybe even more…when that crisis involves the marriage relationship. Howard Dayton joins us today to talk about surviving a marriage crisis.Howard Dayton is the founder of Compass Financial Ministry and the former host of this program. He is also the author of several books on Christian Finance and Stewardship, including Money and Marriage God's Way.Recognizing the Warning Signs of a Marital CrisisMarriage challenges can emerge when stress or unresolved conflicts grow too intense for a couple to manage. Financial struggles, in particular, often go beyond “dollars and cents” and can breed emotions like anger, resentment, and frustration. This strain can lead to poor communication or even emotional withdrawal. A financial crisis in marriage becomes incredibly complex when both partners contribute to it, eroding trust in the relationship.People handle crises differently; some respond with intense emotions, while others may withdraw and become more introspective. Howard emphasizes the importance of allowing each spouse to process the situation in their own way while offering mutual support. In times of difficulty, a marriage can either strengthen or weaken. Interestingly, the pain of a crisis can also spark positive change, prompting impulsive spenders to become more mindful or encouraging couples to deepen their relationship with Christ.Practical Steps to Work Through Marital ConflictTo support couples facing a financial crisis, here are a few practical steps to guide healing:Pray Together for Wisdom—Begin by asking for God’s guidance and wisdom.Set Ground Rules for Communication—Agree on respectful ways to handle conflicts, including the option for a “time-out” to cool down and pray together if emotions escalate.Use Kind Words—Avoid hurtful language, as it can cause lasting damage.Write Letters to Each Other—Sometimes, writing down feelings can help clarify issues. Afterward, meet to discuss these letters, pray, and address the issues raised.Identify and Repent of Any Sins—Acknowledge any harmful behaviors, such as addiction, and take steps toward repentance and recovery.Seek the Source of the Hurt—Ask God to reveal the underlying sources of pain and disconnect.Work to Rebuild the Marriage—Each spouse should find someone to hold them accountable as they make better choices.Seeking Outside Help When NeededIf these steps don’t resolve the crisis, it may be time to seek outside help. A qualified, mature Christian counselor can offer valuable guidance when a couple is unable to work through challenges on their own. Of course, there are situations where divorce may occur due to abuse, adultery, or addiction; however, many marital issues can be overcome with commitment from both partners.The goal of financial unity in marriage is to make decisions together, listen to each other, and view finances as a shared resource. This oneness fosters trust, transparency, and partnership in every area of life.For more on this topic, check out Howard Dayton’s book, Money and Marriage God’s Way, which delves deeper into building a unified financial and marital life.On Today’s Program, Rob Answers Listener Questions:I have cancer and will likely pass away soon. My husband and I have separate finances due to a prenup. I have about $700,000 saved, and I want to know how much I should leave to my husband versus leaving it to the Lord's work, as my husband would likely want me to leave it all to him.I'm retired and have substantial savings that I transferred to an IRA. I've learned about the 'spend-down' when looking to enter a care facility as you age. Is it too soon for me to start spending down this IRA money, and how should I go about doing that?I have some kids who haven't been very responsible with their finances. One is about 44, and the other is 32. I've been considering getting a term life insurance policy on them so that if something happens to them because of their lifestyle choices, I would have something I could give to their children. Is this a good idea, and how much coverage should I get?I know you've said that identity theft insurance is unnecessary, but what about the $2 million coverage for stolen funds and expenses that some policies provide? Is that something I should consider getting, even if it's an expense?Resources Mentioned:Compass Financial MinistryMoney and Marriage God’s Way by Howard DaytonFamilyLife BlendedLook 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.

Bonds are considered safe investments but also a bit boring. Is that true, though?In the investing world, all the drama, for good or ill, is in the stock market. It’s up, it’s down, you get the picture. However, bonds also have an interesting story, and Benjamin Bailey is here to tell us about it.Benjamin Bailey is Vice President of Investments and Senior Fixed Income Manager at Praxis Mutual Funds, an underwriter of Faith & Finance.Introduction to Bonds and StocksBonds play a unique role in building a well-rounded investment portfolio compared to stocks. Stocks represent ownership in a company—owning a small piece of a business like Verizon or Lowe's. Investors typically buy stocks hoping for price appreciation, aiming to sell them for more than they paid. Bonds, however, function differently. When a large company needs significant funding, they may issue bonds to raise capital, allowing investors to “lend” the company money. In return, bondholders receive interest payments (often bi-annually) and get their initial investment back when the bond matures. Bonds may not offer the same potential for big gains as stocks, but they tend to provide more stability.Why Bonds Belong in a Diversified PortfolioBonds are often recommended as part of a diversified portfolio, especially as investors approach the time when they’ll need to withdraw funds. If you’re using a portfolio to fund your retirement or a significant life expense like college tuition, bonds help protect against sudden stock market dips. With time to weather market fluctuations, younger investors may not need as much exposure to bonds. Still, bonds add stability, allowing investors to rebalance effectively if stocks fall sharply.Individual Bonds vs. Bond FundsInvestors can choose between individual bonds and bond funds. While individual bonds can be appealing for their specific returns, they’re less liquid, meaning buying and selling them is harder. Bond funds offer better liquidity and diversification, often containing hundreds of individual bonds. This way, if one bond in a fund doesn’t perform well, it impacts only a small fraction of the portfolio, unlike holding a larger portion in individual bonds.High Yield Bonds: The Balance of Risk and RewardHigh-yield bonds offer higher potential returns than regular bonds but come with higher risk. While they’re generally safer than stocks, they’re riskier than average bonds. High-yield bonds can increase returns but should be balanced to avoid excessive risk in your bond allocation.Interest rates heavily impact bond performance. Bonds faced challenges during periods of rising interest rates. However, with higher starting yields now available, bond investments may provide better protection against downside risks moving forward. When considering bonds' role in your portfolio, it's helpful to focus on future potential rather than past performance.Faith-Based Investing and Impact BondsAn exciting development in the bond market is faith-based investing, where investments align with personal values. Faith-based bond funds screen out companies involved in industries like alcohol, tobacco, and gambling, allowing investors to support ethical practices. Praxis Mutual Funds, for example, offers “impact bonds” that fund positive social projects, such as social bonds issued by the African Development Bank to support initiatives like Power Africa.A bond portfolio can balance traditional bonds with impact bonds, allowing for both financial returns and social benefits. At Praxis, about 35% of the bond fund consists of impact bonds, which they feel is the appropriate level for diversification and positive impact.For those interested in learning more, Praxis Mutual Funds offers a range of resources, including their annual impact report. This is a great way to see how investments are actively making a difference. Visit PraxisMutualFunds.com to explore more about their equity and impact bond funds.On Today’s Program, Rob Answers Listener Questions:I have a 16-year-old daughter who was awarded a $220,000 settlement. I'm concerned she will have full access to this money when she turns 18, and I don't think an 18-year-old should have that much money. What are my options to prevent her from accessing this money at 18?Resources Mentioned:Praxis Mutual FundsOpen 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.

Christmas is six weeks away, and some folks may already be feeling the stress.The holidays should be a time of spiritual reflection and reconnection with family and friends…but too often, we lose sight of that in the quest for perfection. Crystal Paine is here to help us stay focused on the actual “reason for the season.”Crystal Paine is the founder of MoneySavingMom.com and the author of The Time-Saving Mom: How to Juggle a Lot, Enjoy Your Life, and Accomplish What Matters Most.1. Start with a Christmas BudgetOne of the best ways to enjoy a stress-free holiday is by setting up a Christmas budget. A budget is like a set of guardrails—it keeps you on track, preventing you from overspending or going into debt. Here’s a simple way to create one:Determine Your Total Spending Limit: Decide how much you can comfortably spend this season.List Your Recipients: Write down everyone you’re buying for and assign a spending amount for each.Track Your Spending: Use a spreadsheet or the FaithFi app to keep a running total of your spending.By creating a budget, you’ll know exactly what you have left to spend without sacrificing your financial well-being for the New Year.2. Plan Your Holiday ShoppingIf you tend to overspend during holiday sales, using cash-only or prepaid gift cards is a great way to ensure you stick to your budget. Here are some extra tips:Shop with Gift Cards: Consider using Amazon or store-specific gift cards to control spending.Use Deal Sites: Websites like MoneySavingMom.com and RetailMeNot.com offer deals and coupons.Best Shopping Times: Black Friday week and the following two weeks are generally the best time to find the deals you’re looking for.With some planning, you can keep your shopping affordable and enjoyable.3. Keep Holiday Cooking ManageableHoliday cooking can be a joy, but it can also become a significant source of stress. It’s advised that you embrace shortcuts where possible:Use Pre-Made Ingredients: Don’t feel guilty about using store-bought cookie dough or other pre-made items. Sometimes, it’s just as affordable as homemade.One Baking Night: Consider dedicating one evening to bake as a family. Let each person choose one recipe and enjoy the process together without the burden of constant baking all month.These small changes can bring balance to your holiday kitchen, making it a time of joy rather than stress.4. Share the Hosting ResponsibilitiesIf you’re hosting family or friends, don’t be afraid to ask guests to contribute. Include a note in your invitation encouraging each family to bring a dish. Not only does this lighten your load, but it also makes the event more collaborative and enjoyable for everyone.5. Make a Family “December Bucket List”To bring your family closer during the holiday season, consider creating a “December Bucket List.” Here’s an example: Each Family Member Chooses an Activity: Whether it’s a movie night, baking cookies, or a trip to see Christmas lights, everyone gets a say.Add It to the Calendar: Schedule these events to create special memories without feeling overwhelmed.This approach ensures everyone has a voice and the season feels special without overloading your calendar.6. Keep Christ the Center of ChristmasAbove all, remember the reason for the season. Using an Advent calendar or devotional is an excellent way to keep the focus on Christ for you and your family. Unwrapping the Greatest Gift: A Family Celebration of Christmas by Ann Voskamp is a fantastic advent devotional if you’re looking for a resource for your family to go through this Christmas season. Each day includes a devotional and an ornament symbolizing the story of Christ.This daily ritual not only reminds everyone why we celebrate but also keeps the true spirit of Christmas in the heart of your home.As we approach Christmas, let’s aim to make it a season of joy and reflection rather than stress. With a budget, some planning, and a focus on Christ, we can enjoy a holiday that brings peace, love, and lasting memories.On Today’s Program, Rob Answers Listener Questions:My son and daughter-in-law have adopted four Ukrainian children who are now teenagers and looking for college scholarships. I remember someone previously calling your program and mentioning a resource for finding scholarships that have yet to be widely applied, but I didn't write down the details. Do you have any recommendations for where we can find those types of lesser-known scholarship opportunities?I was told about a Morgan Stanley mutual fund investment that supposedly pays $12,000 per year. It sounds too good to be true. What is your opinion on this, and are there any similar low-risk investments you would recommend?I applied for Social Security benefits after my divorce, but the process has been frustrating. The Social Security office didn't provide all the information I needed up front, and now I'm facing delays getting the required marriage certificate from New York. I would like to know if I can use an old pay stub with my Social Security information to resolve this before they remove me from the system. What do you suggest I do?I'm faithfully paying off a credit card debt of around $8,000 that I took on after the death of my mother. I'm currently paying $320 per month. My wife is willing to help me pay this off once she finishes paying off her own credit card. Should I stay the course with the $320 monthly payments or look into rolling over the debt and opening a new credit card with a balance transfer option?Resources Mentioned:MoneySavingMom.comUnwrapping the Greatest Gift: A Family Celebration of Christmas by Ann VoskampFastWeb.com | Peterson’s Scholarship Search | Scholarships.comChristian Credit CounselorsLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as 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.