Faith & Finance

Why do you suppose Jesus had so much to say about money and possessions?Our Lord and Savior knew that how we handle money can reveal our spiritual priorities. Every financial decision has a spiritual component, which can even be true of our investing. Bob Doll joins us today to answer, “Why should we strive for faith-based money management?”Bob Doll is the CEO and CIO of Crossmark Global Investments. He regularly contributes to Faith and Finance and other media outlets, such as Bloomberg TV, Fox Business, and CNBC. The Mission of Crossmark Global InvestmentsCrossmark Global Investments is one of the few faith-based money management companies dedicated to helping people align their investments with their faith and values. They are faith-based money managers helping people align their investments with their faith or values while still achieving good investment performance. The goal is not just financial gain but to ensure investments reflect biblical principles. Crossmark offers both screened and unscreened products to cater to diverse client needs, always seeking to provide risk-adjusted returns that align with Christian values.Types of Investment Solutions: Steward Funds and Separately Managed AccountsCrossmark’s investment solutions fall into two main categories: Steward Funds and Separately Managed Accounts (SMAs). Steward Funds are mutual funds designed to reflect biblical values by screening out companies whose business practices conflict with Christian principles. Crossmark currently offers nine such funds, covering a wide range of stocks and bonds.Separately Managed Accounts allow for even more customization. Investors can exclude specific industries or companies that conflict with their personal convictions or include sectors they wish to support. Crossmark also offers unscreened investments for those who prefer to focus solely on financial performance. These flexible solutions allow investors to have a truly personalized faith-based portfolio.What Is Faith-Based Investing?Faith-based investing (FBI), or biblically responsible investing (BRI), integrates Christian values into financial decision-making. Investing is just one part of life, but all aspects of life should be aligned with God's Word. It’s a matter of holiness and becoming more Christlike.This isn’t just about avoiding “bad” investments (like companies involved in industries that don’t align with biblical values). It’s also about positively investing in companies that act responsibly toward employees, communities, and the environment.It also encourages us to think about the moral implications of our investments. How we earn, spend, and invest money reflects our hearts and faith. Aligning investments with Christian values is a practical way to live out our faith. By doing this, investors can be good stewards of God’s gifts and honor Him in their financial decisions.Dispelling the Myth: Do Faith-Based Investments Sacrifice Performance?One common misconception is that faith-based investing requires sacrificing financial returns. Studies from institutions like Wharton, Oxford, and Biola University have shown that faith-based portfolios can perform just as well as secular ones. Crossmark’s portfolio managers are measured against the same benchmarks as other investors, ensuring that faith-based investments can provide competitive returns.It is essential to work with someone who understands the importance of aligning financial decisions with your faith. Kingdom-minded financial advisors, like those certified by the Certified Kingdom Advisor (CKA) program, specialize in helping Christians invest in ways that reflect biblical values.Aligning Your Investments with God’s WordCrossmark Global Investments offers a range of solutions, from mutual funds to customized accounts, that allow individuals to invest in a way that reflects their faith.As Christians, we must view money as a resource entrusted to us by God. By aligning our investments with His Word, we can ensure that our financial decisions honor God and serve others. We don’t have to choose between financial success and faithfulness—we can have both.To learn more about Crossmark Global Investments or faith-based investing, visit CrossmarkGlobal.com and explore the resources available to help you align your values with your financial goals.On Today’s Program, Rob Answers Listener Questions:I have a small inheritance of $40,000 coming soon, and I’d either like to invest that into a rental property, like a three-bedroom residential home, or maybe just drop it into a mutual fund. I found that the FXALX fund with Fidelity has a really low expense ratio and is highly rated. I'm trying to get the best return on my investment.I just turned 66 and plan to file for Social Security in 6 months. I have a good income of $100,000 per year but no pension. I would like to be debt-free in retirement. Would it be a good idea to use my Social Security benefits over the next couple of years to pay off my mortgages on my rental property and primary home?Resources Mentioned:Crossmark Global InvestmentsLook 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 self-employed, a contractor, or a small business owner, you’re probably familiar with the ups and downs of variable income. In some months, your earnings may exceed your expectations, while in others, they may fall short. This makes budgeting a little more complex—but not impossible! Let’s walk through how to create a budget tailored to your fluctuating income.Start by Finding Your Average IncomeThe first step is to look at what you know. Review your income from the past six to 12 months and total it. Then, divide that total by the number of months to find your average monthly income. This figure will serve as the foundation for your budget, helping you set realistic expectations. You’ll make more than this average in some months, and in others, you'll make less. That’s okay—as long as you plan for it.Save Excess Income for Lean MonthsHere’s the critical piece: In the months you earn more than your average, save the excess. This savings will buffer those lean months when you don’t meet your income target. Even when you have extra at the end of the month, resist the urge to spend it. Treat your budgeted amount as your spending limit, and let the surplus bolster your savings.One effective way to manage this process is to funnel all your income into savings and set up an automatic transfer of your budgeted amount into checking each month. This way, you only spend from checking and staying within your budget.As you get started, you might find your budget doesn’t quite match your actual spending. That’s normal. Track your spending closely and revisit your income average every six months to make necessary adjustments. Over time, your budget will become more accurate as you get a better handle on your fluctuating income.Tips for Building Your BudgetWhether your income is variable or steady, here are a few tips to set up your budget successfully:Track Your Spending: Begin by recording every single expense for 30 days, no matter how small.Plan for Non-Recurring Expenses: Don’t forget those irregular costs like annual fees or holiday gifts. Divide them by 12 and include them in your monthly budget to avoid surprises.Build a Category-Based Budget: Once you’ve tracked your spending and considered non-recurring expenses, group your spending into categories. Tools like the FaithFi app can help with this step.Bring Your Budget in Line with Your GoalsOnce you’ve drafted your budget, ensure it aligns with your financial goals and priorities. If your spending exceeds your income, it’s time to trim back and make changes. Discretionary spending—like dining out, entertainment, and shopping—is often the first place to cut. The FaithFi app’s digital envelope system can help manage these areas effectively.It’s tempting to think that budgeting isn’t necessary, especially if it feels complicated or tedious. But the truth is, living without a budget makes spending less than you earn nearly impossible—and that’s key to financial success. Without a solid budget, debt can creep in, and saving for the future becomes challenging.A budget, or spending plan, gives every dollar a purpose. It allows you to maximize your giving and saving while ensuring your spending reflects your values.Biblical Principles for Wise Money ManagementWhether you earn a little or a lot, it’s important to remember that we’re called to be wise stewards of the resources God has given us. Proverbs 27:23 reminds us to “know well the condition of your flocks, and give attention to your herds.” For us, this means knowing how much money is coming in, how much is going out, and where it’s going.A spending plan helps us faithfully manage God’s resources. With a little planning and discipline, even those with variable incomes can have a budget that honors God and sets them up for financial success.By following these steps, you’ll discover that budgeting with a variable income is possible and can lead to a life of greater financial peace and generosity.On Today’s Program, Rob Answers Listener Questions:My wife and I are looking to make a budget. Since we can't use Mint anymore, we're considering the envelope system to track our spending in real-time and avoid overspending. What are your thoughts on that compared to other budgeting methods?I have a Roth account, and I need to withdraw about $55,000 to pay for a piece of land I'm buying. The money I'd like to withdraw that's not already in stocks would be from a maturing CD. Can I temporarily withdraw $55,000 from the Roth account until the CD matures and then pay it back?My brother is 66 and plans to work until he's 70. He wants to be able to save some kind of fund after he's gone to help his adult autistic son, who lives in a group home. What would you recommend as the best way for him to set that up?I've read Ron Blue's book ‘Splitting Heirs.’ Could you recommend any other resources I could study to prepare to talk with my adult children about God's will and the estate plan I've set up?Someone mentioned that a spouse could receive half of their husband's Social Security on your program. How does that work? Does it relate to our ages?I accumulated about $7-8,000 in credit card debt. I'll be leaving my current job soon, where I have a 401(k), about the same amount as my credit card debt. Would it be wise to use that 401(k) money to pay off the credit card debt, or do you have any other suggestions?Resources Mentioned:Christian Credit CounselorsCreate A Thriving Family Legacy: How To Share Your Wisdom And Wealth With Your Children And Grandchildren by Jeff RogersSplitting 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.

There’s a saying, “Any port in a storm.” Does that apply to your savings?The economic waters seem choppy these days, so where’s a safe harbor for your savings that still gives you a return? Aaron Caid helps you plot a course for your money today.Aaron Caid is the Chief Marketing Officer at Christian Community Credit Union, an underwriter of Faith & Finance. Understanding Savings OptionsIf you've ever wondered which one is right for you, here are the basics of each type of account so you can determine which best suits your needs. Savings Accounts: The BasicsSavings accounts are a safe, insured, and highly liquid option. Most people use them in tandem with checking accounts, making them ideal for new or low-dollar savers. One downside is that interest rates can be lower than other products, as they fluctuate with market conditions. However, CCCU offers a high-yield savings account that provides competitive returns and is a great option for those looking to grow their savings.Money Market Accounts: A Step-UpMoney market accounts are another safe and insured option. These accounts often provide higher interest rates than savings accounts, and the more you deposit, the higher the rate you’ll typically receive. However, it’s important to distinguish between money market accounts (which are insured) and money market mutual funds (which are not). Money market accounts are an excellent option for those with larger balances who are still looking for liquidity.Certificates of Deposit (CDs): Locked-in RatesCDs are a solid choice for those seeking higher interest rates and willing to lock their money away for a set period. These accounts offer fixed rates for terms ranging from a few months to several years. While CDs are less liquid—meaning withdrawing early can lead to penalties—they provide stability and typically offer better returns than savings or money market accounts. CCCU offers various CD options that align well with long-term savings goals.U.S. Savings Bonds: Safe, But Long-TermU.S. savings bonds offer another secure savings option backed by the U.S. government. A unique benefit is that earnings are often exempt from state and local taxes, and some bonds adjust with inflation, providing a hedge against rising costs. However, bonds are a long-term commitment with maturities typically lasting 20 to 30 years. While they’re less liquid, with penalties for early withdrawal, they can be a solid option for those with a long time horizon.Choosing the Right Option for YouSo, how do you choose the right savings vehicle? There are three key factors to consider:Time Horizon: How long can you let the money sit before you need it?Liquidity Needs: Do you need immediate access to your funds?Risk Tolerance: Are you comfortable with the stability of your savings, or are you seeking higher returns with more risk?Why Choose Christian Community Credit Union?CCCU has been a trusted banking partner for Christians for over 67 years. Not only are deposits insured up to $250,000, but they also have competitive rates on high-yield savings, money market, and CD accounts. To date, they have donated more than $6 million to ministry and mission projects in the U.S. and around the globe. Simply put, your everyday purchases help change lives.If you want to learn more, visit joinchristiancommunity.com to explore your savings options with a faith-based approach.On Today’s Program, Rob Answers Listener Questions:I've got a couple of IRAs, a 403(b) from when I was in the ministry, and a 401(k) that I'm actively contributing to at work. I'm almost 60 and unsure when I want to retire, but it probably won't be at 67. Should I start looking for more safe investments? And how should I go about combining these different accounts?My husband's company offers him early retirement at 62, with a lump sum payout of over $900,000 or a monthly income of $72,000 per year for life. We're concerned about the tax implications of each option and how it would affect us if he later decides to take Social Security, even though he's planning to wait to do that.Someone told me I could collect on my husband's Social Security, even though I'm 68, and he's 61 and still working. My benefits are low since I was a stay-at-home mom and only had a little work experience outside the home. Is it true that I can get up to 50% of his Social Security benefits?Resources Mentioned:Christian Community Credit UnionList 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.

“No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.” - Matthew 6:24Serving two masters is not merely an economic or social concern but is profoundly spiritual. It touches on what it means to be a follower of Christ, challenging us to examine what truly governs our lives. Taylor Standridge joins us today to talk about it.Taylor Standridge is the Production Director of FaithFi: Faith & Finance and the co-author of Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety.Overcoming Financial Anxiety with FaithMany struggle with financial worries—bills, job security, or retirement savings—leading to sleepless nights and constant stress and anxiety. Look at the Sparrows addresses these concerns by guiding readers through biblical teachings that reveal a path to peace. It emphasizes that true security doesn’t come from money but from trusting in God’s provision and grace. This 21-day devotional reminds us of God’s love and His role as our ultimate source of security.Serving God vs. Serving MoneyOne key theme in Look at the Sparrows is the contrast between serving God and serving money, inspired by Jesus’s teachings in Matthew 6. While not inherently bad, money often represents worldly values like wealth, power, and status that can draw us away from God. The devotional encourages readers to recognize that money is a tool—a good gift from God to be used for His purposes. However, if we believe money can provide the security and identity that only God offers, it can become a form of idolatry that distracts us from a life centered on faith.Larry Burkett put it well:“The love of money is a form of idol worship, just as surely as the worship of pagan images. It is not the money that is the problem; it’s the attitude toward it.”The Bible has 2,350 verses about money and stewardship because money often competes with God for our trust and loyalty. Ecclesiastes 5:10 is a stark reminder for all who are chasing after wealth’s promise of satisfaction: “He who loves money will not be satisfied with money, nor he who loves wealth with his income; this also is vanity.” - Ecclesiastes 5:10Pursuing wealth always leaves people empty, while a life focused on God’s provision leads to true fulfillment.Danger Signs You May Be Serving MoneyThe devotional offers practical guidance to help believers identify when money might be taking priority over God:Prioritizing Work Over God: If making money takes precedence over nurturing your relationship with God or serving others, it may be a sign that money has become an idol. Pastor Josh Teis puts it well: “If rest feels like a sin, work is an idol.”Never Feeling Satisfied: Constantly wanting more and never feeling content with what you have can indicate that money holds too much power in your life.Reluctance to Give Generously: If giving feels like a burden or you struggle to be generous, it may reflect an unhealthy attachment to money and a lack of trust in God’s provision.Shifting from a Scarcity Mindset to AbundanceThe “scarcity mindset” often underlies financial anxiety. Scarcity can lead us to focus on our own needs, creating envy and conflict. Yet, Scripture calls us to a different approach—one of generosity and trust in God’s abundance. As Paul teaches in Philippians 2:3, we are to “count others more significant than ourselves,” living with a spirit of selflessness.Jesus exemplifies this mindset in stories like The Feeding of the 5,000 (Matthew 14:13-21), where He provided for the crowd’s immediate needs and did so with abundance, leaving twelve baskets of leftovers. This act of generosity illustrates God’s ability to exceed expectations, reminding us that His provision is more than enough.In times of financial stress, Look at the Sparrows invites readers to trust God’s endless generosity and shift their perspective from scarcity to abundance. As we align our hearts with this truth, we open ourselves to a life where we see God as the ultimate provider and experience the joy and peace that come from His love.How to Get a Copy of Look at the SparrowsIf you want to transform your approach to money through faith and find peace in God’s provision, you can request a copy of Look at the Sparrows by making a gift of $25 or more at FaithFi.com/sparrows. Those who become a FaithFi Partner at $35 per month can receive the devotional before it’s available to the general public.You can also purchase individual copies or place bulk orders for your church or small group as well. Explore this journey through Scripture and discover how to move from financial fear to a life anchored in trust and generosity.On Today’s Program, Rob Answers Listener Questions:I'm a grandmother, and I have an 80-year-old grandson. I'm trying to get him started in investing. I'm considering gifting him a stock, like Apple or Walmart, but I also want to be biblically responsible. Can you provide some guidance on that?I'm considering getting a reverse mortgage on my home to help cover long-term care needs. But I heard a commercial suggesting an equity loan might be better so I can determine where the overage goes after the home is sold. What are your thoughts on that?Resources Mentioned:List of Faith-Based Investment FundsUnderstanding Reverse: Simplifying the Reverse Mortgage by Dan HultquistLook 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.

These days, more workers are opting to stay on the job after signing up for Social Security.The percentage of Americans over 65 who are still working has doubled since 1980. Of course, many of them also get security benefits. Eddie Holland is here to explain how working affects the monthly benefit check.Eddie Holland is a Senior Private Wealth Advisor and partner of Blue Trust in Greenville, South Carolina. He’s also a CPA, a Certified Financial Planner (CFP®), and a Certified Kingdom Advisor (CKA®).The Impact of Earnings on Social Security Before Full Retirement AgeIf you begin drawing Social Security before reaching your full retirement age (FRA) and continue working, your benefits may be subject to an earnings test. Here’s how it works:Under Full Retirement Age: For 2024, the income limit is $22,320. If your earnings exceed this limit, Social Security reduces your benefits by $1 for every $2 earned above the threshold.Year You Reach Full Retirement Age: The earnings limit increases to $59,520, with a reduced penalty of $1 for every $3 earned above the limit.After Reaching Full Retirement Age: Once you reach FRA, there is no longer an earnings limit, and your benefits will not be reduced regardless of your income.Will You Get Reduced Benefits Back?A key point is that if your benefits are reduced due to exceeding the earnings limit before reaching FRA, those reductions are temporary. Once you reach full retirement age, the Social Security Administration recalculates your benefit amount, potentially increasing your monthly payment to compensate for the prior reductions.After reaching full retirement age, you can increase your Social Security benefit through continued work. Social Security calculates your benefits based on your highest 35 years of earnings. If your current income is higher than one of the years included in your "high 35," the Social Security Administration will adjust your benefit amount the following year, reflecting your new earnings record.Understanding Tax ImplicationsSocial Security benefits may be subject to federal taxes, depending on your “combined income”—a calculation that includes your adjusted gross income, tax-exempt interest, and half of your Social Security benefits. Here’s a quick breakdown:No Tax: Social Security benefits are not taxed for single filers with combined income under $25,000 and married couples under $32,000.Up to 85% Taxable: For single filers earning over $34,000 and couples over $44,000, up to 85% of Social Security benefits may be taxed.One strategy for reducing taxes on Social Security benefits, especially for those 70½ or older, is using a Qualified Charitable Distribution (QCD). This allows individuals to transfer up to $100,000 per year directly from their IRA to a charity, which can count toward their required minimum distribution and is excluded from taxable income. It’s a great way to support causes you care about while managing your tax burden.If you plan to work while receiving Social Security benefits, understanding how income limits and taxes affect your benefits is crucial. These guidelines can help you make informed decisions about when to claim benefits and how to maximize your income. On Today’s Program, Rob Answers Listener Questions:I received insurance death benefits, and my sister also and I received insurance death benefits. Are they subject to tithing? What’s the Christian perspective on this?I'm a single mom making $45,000 a year as a chaplain. I also have to financially support my mom, who is not good with finances. It's frustrating because she can't get ahead, and I'm worried about our future and preparing for my daughter and myself. Do you have any suggestions on how I can help my mom with her finances?My husband and I have looked into Christian Community Credit Union. You've talked about them before, but we noticed they are not FDIC-insured and wondered if that was a concern.Resources Mentioned:BlueTrustChristian Community Credit UnionLook 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.

“And you shall rejoice in all the good that the Lord your God has given to you and to your house…“ - Deuteronomy 26:11God is worthy of all the praise we can give Him, but that’s not the only reason to be grateful for His blessings. Sharon Epps is here to tell us what happens when we rejoice in God’s provision.Sharon Epps is the president of Kingdom Advisors, FaithFi’s parent organization. Kingdom Advisors serves the broad Christian financial industry by educating and equipping professionals to integrate biblical wisdom and financial expertise.The Connection Between Gratitude and GenerosityTrue generosity begins with a sense of gratitude. This gratitude comes from recognizing that we are made in God's image. As His image-bearers, we are inherently wired with traits like generosity. However, generosity is difficult to practice without first appreciating all that God has given us. We must take the time to regularly practice being grateful for life itself, our families, friends, and the resources God has entrusted to us. Most importantly, we should cherish the gift of Jesus Christ, who offers us eternal life.Living a grateful life involves intentional practices. One method that can help with this is keeping a gratitude journal. By taking a few minutes a day to write down a few things you are grateful for, you can find healing and growth. Cultivating this habit with discipline will help you maintain a thankful perspective, even when life is tough.How Gratitude Fuels GenerosityGratitude transforms how we see our resources, allowing us to live with an open hand. When we recognize that everything she has comes from God, it becomes easier to hold things loosely, knowing that God is our true provider. This perspective shift also helps us see new ways to be generous beyond financial giving. For example, gratitude can encourage us to practice hospitality, and appreciation for our unique skills can motivate us to use them to serve others. Ultimately, gratitude leads to humility, which makes us more aware of others' needs and eager to help.Keeping Gratitude at the Heart of ThanksgivingWith Thanksgiving approaching, families must keep gratitude central during their celebrations. Simple but meaningful activities like going around the table and sharing what each person is thankful for. Another favorite idea is creating “construction paper placemats,” where each family member writes down a gratitude message for others. These activities help foster a spirit of thankfulness and bring families closer together during the holiday.Grateful living can transform our lives and our giving. By recognizing God’s gifts, expressing gratitude, and using our resources generously, we can impact others in meaningful ways. As we approach Thanksgiving, let’s make gratitude the foundation of our celebrations and carry that spirit with us throughout the year.On Today’s Program, Rob Answers Listener Questions:My wife and I are inheriting a significant amount of money, including $50,000 cash, $200,000 in stocks, and $600,000 in mutual funds. We have limited long-term savings and only a car loan as debt. Should I work with the CKA (Certified Kingdom Advisor) with whom we have an appointment or open a Schwab account independently? How should we manage this inheritance?I'm looking for CD rates that are comparable to my Christian beliefs. Can you provide guidance on where I can find Christian-aligned banking options for CDs?I'm a single mom of three children with a limited income. I was wondering how I could raise my credit score. What are some steps I can take to improve my credit score?Resources Mentioned:Bankrate.comChristian Credit CounselorsChristian Community Credit UnionAnnualCreditReport.comLook 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 think there’s only one way to pay for healthcare, maybe it’s time to think outside the box of health insurance.Of course, health insurance is a great thing to have, but is it necessarily the best way to pay for healthcare costs? Lauren Gajdek joins us today to discuss medical cost sharing and how it might be a better option.Lauren Gajdek is the Vice President of Communications and Media at Christian Healthcare Ministries, an underwriter of Faith & Finance. What Are People Looking for in Healthcare?Many people are searching for options beyond traditional health insurance. CHM members often seek three key elements:Freedom to Choose Providers: Members value the ability to select their healthcare providers, especially those they trust, without being restricted by a network.Faith-Aligned Solutions: They want a healthcare solution that aligns with their Christian beliefs, which can be hard to find in conventional insurance plans.Lower Costs: Cost is a major factor, and many people are looking for more affordable ways to manage their medical expenses.CHM meets these needs by offering a healthcare solution that allows members to choose their providers and emphasizes a biblical approach to sharing medical expenses.Flexibility in Choosing ProvidersOne significant difference with CHM is that it does not restrict members to a specific network of providers. This freedom is especially valuable in emergencies or when traveling, allowing members to access care without worrying about whether a provider is “in-network.” While they can assist members in finding cost-effective providers for planned procedures, the final choice remains with the member, offering a level of autonomy that traditional insurance often lacks.How Does Medical Cost Sharing Work?Medical cost sharing through CHM allows members greater control over their healthcare decisions. Unlike traditional insurance, no pre-approvals are required. If a medical expense falls within their guidelines, it becomes eligible for sharing among the membership. This means that decisions about care are made by the doctor and the patient without the bureaucracy typically associated with insurance.Why Is CHM More Affordable?CHM is often more cost effective than traditional health insurance due to its unique structure:Self-Pay Discounts: Members can request self-pay discounts, significantly reducing medical costs. Because it operates as a nonprofit ministry rather than an insurance company, these discounts are a vital part of its strategy to lower costs.Strong Provider Relationships: With over 40 years of experience, CHM has built relationships with healthcare providers, allowing them to negotiate better rates for services behind the scenes.The Importance of a Faith-Based ApproachCHM’s foundation as a Christian ministry is central to its identity. The organization’s mission is rooted in biblical principles, emphasizing the importance of sharing each other’s medical burdens. This focus on community and mutual support makes them unique in healthcare solutions. It is a reminder that ministry comes first.CHM offers a flexible, faith-based alternative for managing healthcare costs, making it appealing to many believers. To learn more about how medical cost-sharing works or explore their services, visit chministries.org/faith.On Today’s Program, Rob Answers Listener Questions:I have a two-flat apartment building that's worth $700,000. We were offered to sell it, and we're looking at another apartment building in another area for $625,000. I wanted to know what it would cost me to sell mine for $700,000 and buy the other for $625,000. I've never sold a building, so I am still determining what to expect.My son struggles to pay the bills for his business, and he's taken out several payday loans to make ends meet. He needs to connect with someone who can give him business financial guidance or possibly look into debt consolidation. Do you have any suggestions?I'm selling a home and would like to know where to start with everything. I know I need an emergency fund and want to help the children. I also want to put money into another home I'm going into. I don't know where to start with all of this, as it's all new for me since my husband passed away.I've been told there's a way to get a free credit report. I understand the government requires it, but I'm uncomfortable using the internet. Please tell me how I can get my free credit report.Resources Mentioned:Christian Healthcare Ministries (CHM)Wise Women Managing Money: Expert Advice on Debt, Wealth, Budgeting, and More by Miriam Neff and Valerie Neff Hogan, JD.AnnualCreditReport.comLook 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 bought a house in the last couple of years, you’ve probably been wondering, “When can I refinance?”The Federal Reserve has already made one interest rate cut, and more are expected before the end of the year. So when will it make sense to refinance your mortgage?If you’re considering refinancing your mortgage, it’s crucial to weigh various factors before making a decision. Movement Mortgage provides a helpful article, "Refinancing? Calculate Your Break-Even Point First!", which explains when refinancing makes sense and how to determine if it's right for you. While lower interest rates are a common reason to refinance, it’s not the only factor to consider.What Is the Break-Even Point?One effective way to decide if refinancing is a good move is by calculating your "break-even point." This is when the savings from your lower monthly mortgage payments equal the costs of refinancing, which can range from 2% to 5% of the loan amount. Knowing this number can clarify how long it will take before you start to see financial benefits from the refinance.For example, if you’re refinancing a $200,000 mortgage, the closing costs might range from $4,000 to $10,000. If your new mortgage payment saves you $200 per month, it would take 20 to 50 months to break even. If it takes over 60 months to reach your break-even point, it might be wise to hold off on refinancing until rates improve further.Factors Impacting Your Break-Even PointSeveral costs can impact your break-even point, including:Application and Origination Fees: Costs for processing your loan.Appraisal Fees: The cost of assessing your home's current value.Title and Insurance Fees: Includes title search, title insurance, and other required reports.Prepaid Interest: Covers interest from the closing date to the end of the first month.Property taxes and homeowners insurance may also need to be paid upfront at closing, contributing to the total closing costs. The more you save in interest each month, the quicker you’ll reach your break-even point.Shorter Loan Terms Lead to Faster SavingsChoosing a shorter loan term, like refinancing from a 30-year to a 15-year mortgage, can help you reach your break-even point faster. Shorter terms typically come with lower interest rates, which means you’ll pay off the refinance costs sooner and less in interest over the life of the loan. However, it’s important not to extend the term of your mortgage when refinancing, as doing so could result in paying more interest over time.How Long Will You Stay in the Home?Another critical consideration is your future plans. You may not benefit from refinancing if you plan to sell the home in a few years. Use the break-even point calculation to determine if it aligns with your timeline. If you break even after 24 months but intend to sell the home in 18 months, there may be better choices than refinancing.Refinancing can be smart when interest rates drop, but it’s essential to calculate your break-even point and consider your long-term plans. Whether you’re reducing monthly payments or aligning with your future goals, these steps can help you make a wise decision for your financial well-being.Movement Mortgage: A Christian Mortgage OptionMovement Mortgage is a Christian-founded company that has donated over $377 million to communities in the U.S. and abroad. Their efforts include providing trained service dogs for veterans and supporting local churches with ministry resources. When you refinance through Movement Mortgage, your payments help fund these initiatives, making a difference beyond your financial goals.For more information on refinancing and calculating your break-even point, visit Movement.com/faith.On Today’s Program, Rob Answers Listener Questions:I've got a mutual fund called a capital appreciation fund that uses both stocks and dividends. Can I use the dividends to get into more cash than I am in the stock and be safe?I have my finances set up in a trust. Within that trust investment setup, I have a Roth IRA and a traditional IRA. My parents have passed away, and I've gotten a portion of the inheritance, with more yet to come. Do I need both the Roth IRA and traditional IRA, or should I eliminate one of them?I'm self-employed, and my wife doesn't work, so I'm ensuring I do a good job saving for retirement. I'm almost 40 years old, and I have a Roth IRA. There are some years when I have more to set aside than what my Roth IRA can accept. What is my second choice after the Roth IRA for those years when I have additional funds to save for retirement?My mom, sister, and I have our names on a home. What will happen when my mom passes away? My sister says we will automatically be able to divide her portion, but I wanted to check with you on that. I'm not sure how the home is titled—is it with the right of survivorship or joint tenants?Resources Mentioned:Movement MortgageRefinancing? Calculate Your Break-Even Point First! (Movement Mortgage Article)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.

“Do not let any unwholesome talk come out of your mouths, but only what is helpful for building others up according to their needs, that it may benefit those who listen.” - Ephesians 4:29Have you ever wanted to take back words, maybe even right after saying them? We often use the phrase, “That came out wrong.” Kathleen Edelman joins us today to talk about getting communication right the first time.Kathleen Edelman is the author of “I Said This, You Heard That: How Your Wiring Colors Your Communication.” She is certified in Biblical Studies and Christian Counseling Psychology and has spent more than 30 years coaching clients in the art of communication.Temperament vs. Personality: What’s the Difference?Many of us think of communication in terms of personality, but temperament is actually a concept rooted in ancient studies by Hippocrates. While personality is shaped by factors like life experiences and birth order, temperament is hardwired and unchangeable—like your eye color or fingerprint.Temperament defines how we naturally respond to various situations. Understanding it can transform how we approach everything, from relationships to finances.The Four Temperaments: What Are They?Kathleen’s work breaks down temperaments into four distinct categories, each with its own language and motivations. Here's a brief overview:Sanguine (Yellow): These individuals are motivated by people and fun. Their financial goals are often tied to exciting future plans, like saving for a dream vacation.Choleric (Red): Cholerics are goal-driven visionaries. Give them a financial target, and they’ll hit it with precision, always eager to set the next goal.Melancholic (Blue): Melancholics crave safety and order. They plan meticulously, ensuring that they are financially prepared for all eventualities.Phlegmatic (Green): Phlegmatics seek harmony and tend to have a laid-back attitude toward money. They are often the most challenging to get on a budget but can be motivated by long-term, meaningful goals.Communication and Finances: The ConnectionUnderstanding your own temperament—and that of your spouse or financial advisor—can lead to more effective communication, especially when it comes to managing money. For example, if you are married to a melancholic, they’ll want to feel financially safe, which means they’ll be focused on saving and planning for the future. Conversely, a sanguine needs a fun or people-centered motivation to stick to a financial plan.By learning to "speak" each other's language, couples can create harmony in their finances, much like they do in other areas of their relationship.Strengths, Weaknesses, and Innate NeedsEach temperament has a set of strengths and weaknesses. While our weaknesses may seem burdensome, they help us appreciate and manage our strengths. For example, a melancholic’s focus on safety can sometimes lead to anxiety, but when managed well, it ensures a secure financial future.Another concept we should familiarize ourselves with is "innate needs"—non-negotiable motivators that drive each temperament. Knowing these needs can improve communication and reduce conflict in relationships, particularly when discussing money.Ephesians 4:29 reminds us:“Do not let any unwholesome talk come out of your mouths, but only what is helpful for building others up according to their needs, that it may benefit those who listen.”Let’s choose our words wisely, building others up according to their temperament and needs.A Path to Stronger Communication and Financial HarmonyUnderstanding your temperament and how it colors your communication can profoundly impact your relationships and finances. God has wired each of us uniquely, and by recognizing and respecting these differences, we can better serve and love one another—especially when it comes to managing our money.If you're ready to explore the connection between temperament and communication further, Kathleen’s book I Said This, You Heard That: How Your Wiring Colors Your Communication is available wherever books are sold. If you’re interested in going deeper, the book also includes a workbook designed to be completed over six weeks. Through this six-week study, complete with videos and exercises, Kathleen helps individuals and couples uncover their temperaments, allowing for countless “aha” moments. You can also take the Temperament Assessment to discover your unique temperament and learn how to communicate more effectively with others.Whether navigating a marriage, managing finances, or simply trying to understand your communication style, this resource offers practical tools for lasting change.On Today’s Program, Rob Answers Listener Questions:I've messed up my life with credit card debt, auto loans, and furniture loans. I want to clean up my financial life and live debt-free as soon as possible. Where do I start?Is there a maximum that you can give in an RMD and a calendar year?Resources Mentioned:I Said This, You Heard That: How Your Wiring Colors Your Communication by Kathleen EdelmanLook 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.

Employment scams skyrocketed last year, increasing by nearly 120%. Would you be able to spot one?The FTC routinely handles thousands of employment scam complaints each year, but that number is rising dramatically as technology makes conning job seekers easier for online thieves.The Bible warns us about living in a hostile and deceptive world. In Matthew 10:16, Jesus reminds us: “Behold, I am sending you out as sheep in the midst of wolves, so be wise as serpents and innocent as doves.”This means we are called to live innocently, doing no harm, but also to practice discernment and wisdom to avoid harm—especially in areas like employment and finances.One piece of advice that’s particularly useful, especially when money is involved, is: “If something looks too good to be true, it probably is.” This simple principle can help protect you from many employment scams that prey on your trust. But with today’s AI advancements, some scams have become more challenging to spot.Artificial intelligence has made it easier for scammers to generate fake job listings and convincing recruitment messages. According to the Identity Theft Resource Center, AI can help scammers polish their “pitch,” making it more persuasive and compensating for language and cultural differences. Unfortunately, victims of these scams lose an average of nearly $2,000.Common Employment Scams to Watch Out ForHere are some of the most common employment scams you might encounter:Work-from-home scams: With the rise of remote work, scammers target those seeking home-based jobs by offering fake opportunities.Repackaging and reshipping scams: These scams involve sending merchandise from your home, with con artists getting you to send money in the process.Virtual personal assistant scams: A fake employer claims they need help with administrative tasks, but their real goal is to steal personal information.Mystery shopper scams: These fake job offers entice you to pay upfront for “training” or “supplies,” but the job never materializes.Job placement scams: Scammers ask for a fee to place you in a job but disappear after receiving your payment.Government and postal job scams: These scams claim to offer government jobs in exchange for a fee or personal information.Scammers often post these fake job listings on reputable websites like LinkedIn, Indeed, and other job search platforms, making it harder to tell what’s real and what’s not. The rise of remote work since the pandemic has also made job seekers more comfortable with digital-only interactions, but this comes with its own set of risks.Red Flags to Watch ForAccording to the Federal Trade Commission (FTC), here’s what you can do to protect yourself:Don’t assume safety on well-known job search platforms. Just because a listing is on a reputable site doesn’t mean it’s legitimate.Independently verify the company and its hiring process. Always research the company before accepting an offer.Be cautious if you didn’t initiate contact. If a recruiter contacts you out of the blue, verify their credentials directly with the company.Digital-only interactions are a red flag. While many interviews are conducted online, be wary of jobs that involve only digital communication.Beware of check scams. Honest employers won’t send you a check to buy supplies and then ask you to return the leftover money. This is a common fake check scam.Too-good-to-be-true offers. High pay for little work is another major warning sign, especially if personal or financial information is required early in the process.How to Protect YourselfIf you spot any of these red flags, it’s wise to walk away. However, you can also verify if a job is legitimate by doing an online search of the company or person offering the position. Add words like “scam,” “review,” or “complaint” to your search. While not finding complaints doesn’t automatically make the job offer legitimate, finding plenty of complaints is a sure sign that it’s a scam.If you believe you’ve encountered a scam, report it to the Federal Trade Commission (FTC) at reportfraud.ftc.gov or the FBI’s Internet Crime Complaint Center (IC3). Additionally, if you found the suspicious job listing on a reputable platform like LinkedIn or Indeed, be sure to report the listing to the site.By staying alert and using discernment, you can protect yourself from employment scams in a world that sometimes feels like it’s full of wolves. Take these precautions, trust your instincts, and stay safe.On Today’s Program, Rob Answers Listener Questions:Can I do a quick claim deed to remove my son from the deed after I pay off the house so that the house goes to all five of my kids instead of just him?My grandpa has chosen to invest his money in a commemorative coin collection that he's been growing over the years. He's asked my aunt and me to take the coins before he passes, find out their value, and sell that money for him. I'm still determining where to turn to ascertain the value and get the most for his investment.My friend on disability is concerned that getting a part-time job would jeopardize his disability benefits, even though I think it would provide a cushion for him. How can he earn additional income without losing his benefits?My wife and I want to try to retire this next year. I'm 61, and she won't be able to get Social Security. We're figuring out the first steps to moving forward with that.Resources Mentioned:An Uncommon Guide to Retirement: Finding God's Purpose for the Next Season of Life by Jeff HaanenLook 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.