Faith & Finance

UNDERSTANDING TIME'S WORTH IN GOD'S PERSPECTIVE:God values our time, as evidenced by Psalm 90:12, which states, "Teach us to number our days, that we may get a heart of wisdom."James 4:14 reminds us of the fleeting nature of life, saying, "You do not know what tomorrow will bring. What is your life? For you are a mist that appears for a little time and then vanishes."Realizing the value of time can influence how we approach work and manage our finances.CALCULATING REAL HOURLY WAGE:To understand what our time on the job is really worth, subtract taxes (including Social Security, Medicare, and income tax) from your gross annual income.Example: Earning $52,000 annually, with $10,000 in taxes, leaves a net earning of $42,000. Dividing this by 52 weeks and then by a 40-hour workweek gives a real hourly wage of $20.This calculation helps to realize the actual earnings per hour, especially if working more than 40 hours a week.IMPACT ON SPENDING HABITS:Knowing the real cost of purchases in terms of hours worked can significantly alter spending habits and reduce impulse spending.Reflecting on past spending, such as fast food purchases or small impulse buys, in light of the hours worked to afford them, can encourage more thoughtful spending.This awareness can lead to prioritizing spending in areas of greater value, like increased giving to the kingdom for eternal impact.Memorize Proverbs 21:20, ““Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it.” That will help you cut impulse spending right away. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:  I graduated from college four and a half years ago with a total student loan of about $45,000 and have only paid off about $4,000. Should I continue to pay aggressively, or just make reasonable payments over the years?My husband and I are both disabled and living on a fixed income of $3,000 per month. We have $80,000 in liquid savings but no retirement fund or investments. What should we do with our savings?My husband and I have been paying 75% extra on our 3% fixed-rate mortgage each month. Should we continue doing this, or would it be more beneficial to invest that extra money elsewhere, like in mutual funds? RESOURCES MENTIONED:Sound Mind Investing Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Jerry Bowyer is our resident economist here at FaithFi and the president of Bowyer Research. He’s also the author of The Maker and the Takers: What Jesus Really Said About Social Justice and Economics.  Fans of the story might remember this exchange: Scrooge: “My taxes help support the public institutions which I’ve mentioned and they cost enough. Those who are badly off must go there.”Portly Gentleman: Many can’t go there and many would rather die.Scrooge: If they had rather die, perhaps they had better do so and decrease the surplus population.Portly Gentleman: Surely you don’t mean that, sir?Scrooge: “With all my heart … “ WHAT HAVE WE BEEN MISSING IN "A CHRISTMAS CAROL" ABOUT THE PHRASE "SURPLUS POPULATION"?This phrase reflects the Malthusian belief prevalent in the 1800s, suggesting that population growth, especially among the poor, outpaces the supply of resources."Surplus population" was a key term in the Malthusian debate, which argued that population growth surpasses food and resource supply, especially among the poor.Charles Dickens used Scrooge's character to critique Malthusian ideas, as Scrooge embodies this philosophy but changes his views by the end of the story.The contrast in Scrooge's character, from his impoverished childhood to his abundant adult life, mirrors the economic shifts from scarcity to abundance during the Industrial Revolution. WHO OPPOSED MALTHUS' THEORIES, AND WHAT CAN WE LEARN FROM SCROOGE'S CHARACTER?Boyer highlights opposition to Malthus' theories, notably from Charles Dickens, who used Scrooge's transformation in "A Christmas Carol" to challenge Malthusian beliefs. The story illustrates a shift from a scarcity mindset to recognizing abundance and the value of human life.Dickens, along with economists like John Baptist Say and writers like G.K. Chesterton, opposed Malthus' theories, advocating for human value and abundance.Scrooge's initial scarcity mindset, as shown in his reaction to the Ghost of Christmas Present, evolves to recognize the abundance and value of every human life, including Tiny Tim.The story illustrates a shift from viewing the poor as a burden to treating them with dignity and generosity, reflecting Dickens' broader critique of Malthusianism. HOW DO MALTHUSIAN IDEAS PERSIST TODAY, AND WHAT IS THEIR IMPACT?Boyer explains how Malthusian ideas persist in modern times through organizations like Planned Parenthood and in ideologies that advocate for reduced population growth. These ideas often target specific groups, reflecting biases against the poor, people of color, and immigrants.Modern Malthusianism is evident in organizations like Planned Parenthood and in ideologies promoting reduced population growth, often biased against marginalized groups.These contemporary beliefs, rooted in Malthusian ideas, suggest that certain populations are surplus and promote actions like abortion, which is contrary to sustainable human flourishing.We should view every human life, including the unborn and marginalized, as valuable, akin to Dickens' portrayal of Tiny Tim and contrary to Malthusian beliefs. WHAT SHOULD VIEWERS TAKE AWAY FROM "A CHRISTMAS CAROL" THIS SEASON?As viewers watch "A Christmas Carol" this season, Boyer hopes they recognize the underlying economic and theological messages. He encourages seeing God as generous and abundant, not stingy, and understanding the transformative journey of Scrooge as a call to embrace generosity and value all human life.Viewers should appreciate God's generosity and reject the scarcity mindset, learning from Scrooge's transformation to value every human life.The story offers a chance to understand deeper economic and theological themes, recognizing the shift from Malthusian scarcity to an appreciation of human potential and abundance.Boyer suggests using the story to teach children about the value of each person, drawing parallels to modern issues like the treatment of the unborn and marginalized. You can read Jerry Bowyer’s insightful commentaries for WORLD Opinions at WNG.org. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:  I'm 23, just sold my house, and have about $70,000 in proceeds. I'm wondering how I can use this money to grow it, considering I plan to buy another house using a VA home loan.I have a small pension from a previous employer and a 401(k) I kept with them. Should I transfer the pension to the 401(k) or a Roth IRA, and what would be the tax implications? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Brian Holtz, joins us again today. He is the Chief Operating Officer at Compass — Finances God’s Way. He’s also the author of Financial Discipleship for Families: Intentionally Raising Faithful Children. HOW DO YOU RAISE FAITHFUL CHILDREN AS FINANCIAL DISCIPLES?A financial disciple learns and applies Jesus' teachings about money and possessions, and also shares this knowledge with others.Parents should instill in their children the understanding that everything belongs to God, as stated in 1 Chronicles 29:11 and Psalm 24:1.It's crucial to teach children about stewardship and faithful management of resources, following God's goals rather than personal ambitions. WHAT ARE THE FIVE PILLARS OF FINANCIAL DISCIPLESHIP?These pillars guide children in understanding their role as stewards of God's resources and making decisions that align with biblical teachings:1. Ownership: Recognizing that everything is owned by God.1 Chronicles 29:11 tells us everything in the heavens and earth is His. And Psalm 24:1 says the earth is the Lord’s and all it contains.2. Surrender: Understanding our role as stewards or managers of God's resources.3. Choice: Making decisions to handle finances God's way, as exemplified in the Parable of the Wise and Foolish Builders (Matthew 7:24-27).4. Multiplication: Sharing learned principles with others, in line with the Great Commission (Matthew 28:18-20).5. Eternal Focus: Keeping in mind the eternal impact of our financial decisions on Earth. HOW CAN PARENTS USE PRACTICAL OPPORTUNITIES TO TEACH FINANCIAL DISCIPLESHIP?Brian emphasizes the importance of providing practical opportunities for children and grandchildren to apply God's financial principles. This includes teaching them about working, income, giving, spending, planning, budgeting, and accounting for finances.Teach children about earning and managing money, giving them responsibilities and rewarding their efforts.Educate them on the importance of planning and budgeting, helping them understand the long-term impact of financial decisions.Guide them in accounting for their finances, setting financial goals, and making wise choices. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:  I'm 66 and planning to retire at 67 and a half with a mortgage of about $161,000. I have $127,000 in savings, which I plan to use to pay off the house. Should I split my contributions between paying off the house and saving, or focus on one?As a single mom and teacher planning to retire, I have $10,000 in credit card debt with an interest rate of 11%. Should I take a credit card offer or get a home equity line to manage this debt?I'm facing a company transition and have a 401k of about $140,000. Should I roll it over to the new company's 401k, to an IRA, or consider other options?I want to help my daughter buy a car by purchasing it myself and then letting her pay me back over time. Should I buy the car in my name and then transfer it to her, or structure it differently?I purchased a cemetery plot in the 80s and am now looking to sell it for more than I paid. Do I need to pay capital gains tax on the sale? RESOURCES MENTIONED:Christian Credit CounselorsFind a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.   Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Art Rainer is a regular contributor here at Faith and Finance and the author of several books, including The Marriage Challenge: A Finance Guide for Married Couples. WHAT ARE SOME WARNING SIGNS THAT INDICATE A COUPLE MAY HAVE PROBLEMS WITH MONEY?Frequent heated arguments about money are a major red flag. It's concerning if discussions about budgeting, spending, debt, or giving lead to intense disagreements.Financial infidelity is another critical issue. This includes hiding purchases, maintaining secret bank accounts or credit cards, or exceeding spending limits without informing the spouse.Using money as a weapon in the relationship is a serious concern. This behavior involves controlling or punishing a spouse with money, like giving allowances or withholding funds, and contradicts the unifying purpose of money in a marriage as intended by God.Managing money independently, with separate bank accounts and financial responsibilities, is a warning sign. This approach undermines the biblical concept of marital oneness and can lead to long-term divisions. Rainer suggests that couples facing such issues could benefit from consulting a certified Christian financial counselor, available through FaithFi.com. HOW CAN COUPLES EFFECTIVELY ADDRESS THESE FINANCIAL WARNING SIGNS?Art highlights communication as a key factor in addressing financial issues in a marriage. He refers to the practice of having regular financial discussions — or "money dates" — to maintain open communication and prevent problems like financial infidelity.Implementing a joint approach to finances, rather than managing them independently, is recommended. This approach aligns with the biblical concept of unity in marriage, replacing 'mine' and 'yours' with 'ours.'Using money in a way that fosters unity and supports the advancement of God's kingdom is essential. Money should not be used as a tool for control or punishment in a marital relationship.For couples who feel that separate finances "just work" for them, Rainer warns about the potential long-term risks of such an approach. He advises that even if it seems to work now, it may lead to significant divisions over time.Read Art Rainer’s full article on this topic: 6 Signs That Money Is an Issue in Your Marriage ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:  I've already discussed my finances with a kingdom advisor and am in a good position; I'm considering using annuities to leave a legacy for my kids and would like your opinion on this.I'm in my upper 50s and want to buy a house but can't save the recommended 20% down payment; should I use my 401(k) or get a loan from the bank? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.   Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

WHAT IS BIBLICAL FINANCIAL STEWARDSHIP ACCORDING TO FAITHFI?Biblical financial stewardship, as FaithFi defines it, is about letting Scripture influence and inform financial decisions. It's not just following financial principles from the Bible, like recognizing God as the owner and ourselves as managers, giving cheerfully, avoiding debt, and planning for the future, but it's also about understanding these principles in the broader context of Scripture. All Scripture ultimately points to Jesus, shaping a deeper relationship with Him. FaithFi's purpose is to help Christians see God as their ultimate treasure, not money or possessions. It's about changing the heart posture, aligning with the idea that where your treasure is, there your heart will be too.It's about letting Scripture guide financial decisions, going beyond mere principles.Understanding financial stewardship in the broader context of the Bible, which points to Jesus.The goal is to see God as the ultimate treasure, changing one's heart towards money and possessions. HOW DOES FAITHFI'S MESSAGE DIFFER FROM THE WORLD'S VIEW ON MANAGING MONEY?FaithFi's approach to managing money contrasts sharply with the world's perspective. The world encourages treasuring money and possessions, almost to the point of idolization. However, FaithFi advocates for viewing money as a tool for God's purposes. The Bible's financial principles are a guide to making decisions that glorify God. FaithFi's mission is to help Christians integrate faith into their financial decisions for God's glory. The ultimate aim is not just financial success or wisdom in money management, but to glorify God through these decisions.FaithFi emphasizes using money as a tool for God's purposes, contrary to the world's view of idolizing wealth.The ultimate goal is God's glorification, not just financial success or following wisdom principles. WHAT IS THE IMPORTANCE OF FINANCIAL SUPPORT FOR FAITHFI AND ITS GOALS?Financial support is crucial for FaithFi to achieve its objectives. They have set a fundraising goal of $250,000 by year-end to extend their message to a larger audience. Contributions are vital for producing content like radio shows, podcasts, and Bible studies that delve into biblical perspectives on money and possessions. Donations also support the FaithFi app and other resources that help integrate faith into financial management. Engaging with and supporting FaithFi allows for the expansion of this ministry, equipping more people with biblical truths for managing their finances.Financial contributions are essential for creating content and expanding FaithFi's reach.Donations support tools like the FaithFi app, aligning financial decisions with faith.Supporting FaithFi helps spread biblical wisdom on finance to a broader audience.If you’d like to make a monthly or year-end gift to this ministry, just go to FaithFi.com and click the “Give” tab. Thank you in advance!  ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:  I have shares from Home Depot and I'm unsure whether to continue holding them or sell them.My husband's 401k from his former employer was with Vanguard, and I've learned that Vanguard, Blackrock, and State Street promote a globalist agenda, which I oppose.My husband and I are working on our will and trust, and we've been advised to only give to our children and grandchildren, not to Christian charities, as giving to charities should be done during our lifetime.RESOURCES MENTIONED:Find a Certified Kingdom AdvisorBook: "Splitting Heirs" by Ron Blue Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Randy Alcorn is the author of over 60 books on Christian Living and the founder and director of Eternal Perspective Ministries.  WHY IS MATERIALISM A CHALLENGE, ESPECIALLY IN AMERICA?Materialism is a significant challenge, especially in America, because it acts like a false god or idol, as identified by Jesus. This idolatry of materialism is often overlooked in our culture. Accumulating possessions leads to being in orbit around our wealth, even for Christians striving to honor God.Materialism, likened to a false god 'mammon', exerts a powerful hold over people's lives.The accumulation of possessions creates a gravitational pull, making us orbit around our wealth.This challenge affects everyone, including Christians, making it difficult to focus solely on honoring God. WHAT ARE THE PRECONDITIONS TO THE GUIDELINES FOR GIVING?The preconditions to giving involve recognizing ourselves as stewards of God's resources, not owners. This stewardship perspective is essential, although often overlooked. Happiness and contentment come from giving, aligning with Jesus' teaching about the joy found in generosity.Understanding that we are stewards, not owners, of our resources is crucial.Recognizing God as the ultimate owner shifts our perspective on money and possessions.The act of giving leads to happiness, echoing Jesus' teachings about the joy in generosity. HOW SHOULD WE APPROACH GIVING, AND WHAT ARE SOME GUIDELINES?Approaching giving should involve making it a habit, similar to other habitual actions. Generosity is cultivated through giving, regardless of one's current feelings about it. Tithing is seen as a starting point, and regular giving keeps the focus on generosity. Sacrificial giving, like the biblical widow's offering, and giving worshipfully are also important aspects.Cultivating the habit of giving, similar to other daily routines, is important for developing generosity.Generosity grows through the act of giving, regardless of initial feelings about it.Tithing is a baseline for giving, and regular giving helps maintain a focus on generosity.Sacrificial and worshipful giving are key components, reflecting true generosity and devotion. WHAT IS THE SIGNIFICANCE OF SYSTEMATIC GIVING?Systematic giving is significant because it helps inculcate a habit of generosity. Regular giving, like checking one's blood sugar or brushing teeth, becomes a natural part of life. This habit keeps one's focus on giving and opens eyes to opportunities for generosity.Regular giving fosters a habit of generosity and keeps our focus on giving opportunities.Systematic giving is akin to other regular life activities that cultivate specific habits or mindsets.Consistency in giving ensures a sustained focus on generosity and awareness of giving opportunities. WHAT DOES GIVING SACRIFICIALLY LOOK LIKE?Sacrificial giving, exemplified by the New Testament story of the widow's offering, involves giving from one's scarcity. It's not about the amount but the heart and intention behind the giving. This type of giving reflects true generosity and aligns with biblical principles of giving.Sacrificial giving is giving out of scarcity or poverty, as shown by the widow in the New Testament.It's the intention and heart behind the giving that defines it as sacrificial.This form of giving reflects deep generosity and adherence to biblical teachings on giving. HOW DOES GIVING WORSHIPFULLY TRANSFORM OUR APPROACH TO GIVING?Giving worshipfully transforms our approach by focusing on God's grace and greatness. It involves becoming more like Christ through our acts of giving, moving beyond mere transactions to a form of worship and emulation of God's character.Focusing on God's grace while giving transforms it into an act of worship.This form of giving is about emulating Christ's generosity and godliness.Worshipful giving goes beyond transactional acts and reflects a deeper devotion to God's teachings. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:  My wife and I manage on a single income and often end up using credit cards to cover expenses, but we struggle to stay within our budget. How should we handle occasional monetary gifts from my parents?I received quotes for long-term care insurance but find the monthly premiums high, especially the ones with inflation protection. I'm considering a more affordable option without inflation protection. What's your opinion on this? RESOURCES MENTIONED:FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.   Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Crystal Paine is the creator of the amazing website MoneySavingMom.com. WHAT ARE SOME WAYS YOUR FAMILY SAVORS THE MEANING OF CHRISTMAS?To savor the meaning of Christmas, Crystal Payne's family engages in simple yet meaningful traditions. They use an Advent calendar, specifically Ann Voskamp's, which includes daily devotionals, to focus on the spiritual significance of the season. Additionally, they undertake a family giving project, where each member contributes and decides on a cause to support, fostering a sense of ownership and generosity.They use an Advent calendar with daily devotionals to focus on the meaning of Christmas.The family partakes in a giving project, where each member contributes and selects a cause.These activities help instill a sense of ownership and remind them of the true spirit of Christmas. WHAT ARE SOME PRACTICAL WAYS TO MANAGE CHRISTMAS SPENDING AND GIFT GIVING?When managing Christmas spending and gift-giving, it's crucial to start by determining who you need to buy for and align this with your budget. Consider simplifying gift-giving by choosing family or experience gifts. Crystal also suggests utilizing her website's guide for unique and inexpensive gift ideas that can suit anyone. These gifts can be homemade or experience-based, adding a personal touch while staying budget-friendly.Evaluate who you need to buy for and align this with your budget.Consider giving family or experience gifts to simplify the process.Utilize inexpensive, homemade gift ideas that are personal and unique. HOW CAN YOU STRETCH YOUR CHRISTMAS BUDGET?To stretch your Christmas budget, start with a clear budget and consider using cash only for purchases, including online shopping. Crystal suggests saving for Christmas throughout the year and earning gift cards for additional savings. Homemade gifts, like baked goods or DIY projects, are also great ways to give meaningful presents without overspending.Start with a clear budget and stick to cash-only purchases.Save throughout the year and earn gift cards for extra savings.Consider homemade gifts for a personal touch that aligns with your budget. WHAT ARE SOME TIPS FOR FAMILY TOGETHERNESS AND ORGANIZATION DURING CHRISTMAS?For family togetherness, Crystal recommends creating a "December Bucket List" where each family member chooses one or two special activities for the month, ensuring everyone's interests are considered. For organization, she advises writing everything down, perhaps using Google Calendar, and dividing up tasks among family members. Other suggestions include wrapping up Christmas books for daily reading and setting aside a special day for immediate family celebration.Create a "December Bucket List" for family members to choose special activities.Use tools like Google Calendar for organization and write down all tasks.Involve family members in preparations and consider unique traditions like reading wrapped Christmas books. ANY LAST-MINUTE TIPS FOR STAYING ORGANIZED DURING THE HOLIDAYS?To stay organized during the holidays, Crystal emphasizes the importance of simplifying and asking, "How can I make this easier?" She recommends writing down all tasks to clear your mind, seeking help from family members, and planning ahead for meals and events. Embracing shortcuts and preparing in advance, such as pre-making meals, can significantly reduce stress and enhance enjoyment of the holiday season.Simplify processes and ask how to make tasks easier.Write down all tasks and delegate responsibilities among family members.Plan meals and events in advance and embrace shortcuts to reduce holiday stress. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:  As a potential first-time homebuyer, I am wondering whether it's wise to take out a loan to buy a house in the current high Sarasota housing market, or should we wait?I will be losing my job soon and have a 401k with about $24,000 in it; should I roll it into an individual IRA or into my spouse's retirement plan? RESOURCES MENTIONED:FidelitySchwab Intelligent PortfoliosSound Mind Investing Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Sharon Epps is the President of Kingdom Advisors. WHAT IS THE CURRENT STATE OF ECONOMIC UNCERTAINTY ACCORDING TO RECENT RESEARCH, AND WHAT ARE ITS EFFECTS?Economic uncertainty is at a high, as indicated by the International Monetary Fund's World Uncertainty Index. Covering data from 143 countries over the past 60 years, the current level of uncertainty is among the highest since 2000. This uncertainty can lead to fear, decision paralysis, and irrational decision-making.Economic uncertainty is significantly high currently, comparable to the highest levels since 2000.This uncertainty can cause fear, hinder decision-making, and lead to irrational choices.Historical perspective shows that economic uncertainty is a recurring phenomenon. WHAT PRACTICAL STEPS CAN WE TAKE DURING UNCERTAIN TIMES?To navigate uncertain times, focus on God's control and promises, such as His assurance in Hebrews 13:5 ("I will never leave you nor forsake you") and the call for contentment in 1 Timothy 6:8. Acknowledge that economic consequences often result from not following God's principles. Ask yourself about the worst-case scenario and its likelihood, recall God's past faithfulness, and avoid the trap of thinking the current situation is the worst ever. Follow God's principles in managing finances, knowing that you have done your best.Trust in God's control and focus on His promises for assurance.Recognize the potential consequences of an economy not aligned with God's principles.Reflect on past instances of God's provision and avoid exaggerating current circumstances.Adhere to God's principles in financial management, focusing on what's within your control. WHAT ARE THE FOUR THINGS WE CAN DO WITH MONEY AND HOW SHOULD WE APPROACH EACH?The four things we can do with money are: live on it, give it, owe it, and grow it. For living, spend less than you earn. In giving, practice open-handed generosity. For owing, avoid the use of debt. In growing, save diligently for future needs.Spend less than you earn for living expenses.Practice generosity in giving.Avoid debt accumulation.Save diligently for future financial needs. HOW CAN WE TAKE A PROACTIVE APPROACH TO DEALING WITH UNCERTAINTY AND HELP OTHERS?Certainty is found in God, the Creator, Sustainer, and Provider. FaithFi's work focuses on directing people to God and His unchanging principles. To support this mission and help create a movement of faithful stewards who can withstand economic uncertainty, consider contributing to FaithFi's fundraising goals. Such contributions assist in spreading the message of wise financial decision-making grounded in faith.True certainty in life is found through a relationship with God.Supporting FaithFi helps spread the message of managing finances according to God's principles.Contributions to FaithFi aid in creating a community of faithful stewards equipped to handle economic uncertainties. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:  I have a 25-year-old niece living at home with minimal debt, and she is considering real estate investment but is unsure due to the high market. What would be the best financial move for her?We've been advised to move some money from an IRA to a fixed index annuity. Is this a wise decision, considering the potential limitations and fees of annuities?I'm 65 and still working. Would it be beneficial to start drawing Social Security now, or should I wait until I reach my full retirement age at 66 and eight months? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.    Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

“Lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal.”  Matthew 6:20Ken Boa and Russ Crosson are our guests today.. Ken is a pastor and founder of Reflections Ministries. Russ is executive vice president and chief mission officer of Ronald Blue Trust. They’re authors of Leverage: Using Temporal Wealth for Eternal Gain.  WHAT IS BIBLICAL LEVERAGE, AND HOW CAN IT IMPACT ETERNITY?Biblical leverage is the concept of using your current wealth to make a significant impact on eternity. It involves investing in God's work around the world, allowing one to witness how God multiplies these investments for eternal purposes.Biblical leverage is using present wealth to contribute to eternal impacts.It's about investing in God's work and seeing the multiplication of these investments.This concept mirrors leveraging in finances, but with a focus on eternal outcomes. HOW SHOULD INDIVIDUALS DETERMINE WHERE TO GIVE, AND IS IT ACCEPTABLE TO GIVE OUTSIDE THE LOCAL CHURCH?It's important to give in ways that align with the spread of the Gospel and the Great Commission of making disciples. The New Testament encourages sharing with those who teach and disciple us. This giving can extend beyond the local church to various ministries involved in spreading the Gospel.Giving should support those who disciple, teach, and evangelize.The focus should be on contributions that advance the Gospel and disciple-making.While supporting the local church is important, giving can extend to other Gospel-centered ministries. WHAT IS THE NEW TESTAMENT'S PERSPECTIVE ON TITHING?In the New Testament, the emphasis is on grace giving, which is proportional and based on one's ability. While there's no specified percentage, those who have received more are expected to give more. This form of giving reflects a commitment to God's perspective on lasting impact and identity.Grace giving is emphasized, based on ability rather than a fixed percentage.The more one receives, the more one is expected to give.This giving is about investing in eternal values and personal identity in Christ. HOW CAN INDIVIDUALS TEST WHERE THE SPIRIT IS LEADING THEM IN THEIR GIVING?Testing where the Spirit leads in giving involves taking risks in faith. The more one grows in faith, the more significant the risks one is invited to take. This process requires a commitment to actions that depend on God's intervention for success.Spiritual growth involves taking risks in faith, especially in giving.Greater wealth implies higher responsibility and more significant risk-taking in giving.Giving should be an action that requires divine intervention to succeed. WHAT ARE THE DIFFERENT FORMS OF GIVING, SUCH AS CASH FLOW VERSUS NET WORTH GIVING?Cash flow giving involves donating from regular income like salaries or dividends, suitable for most people. Net worth giving is more relevant for wealthier individuals, considering assets like real estate, stocks, or business interests. This form of giving requires looking at asset growth and managing resources to maximize giving potential.Cash flow giving is donating from regular income sources.Net worth giving involves donating from assets and investments.Wealthier individuals should consider both forms to optimize their giving. WHAT MINDSET SHOULD INDIVIDUALS HAVE DURING THE ACT OF GIVING?The mindset during giving should be one of privilege and opportunity, viewing it as a chance to make an eternal impact. This perspective involves seeing wealth as a means to invest in what endures forever, rather than what is temporary.Giving should be seen as a privilege and an opportunity for eternal impact.It's about transforming temporal wealth into lasting, eternal value.The focus is on investing in relationships and eternal impact rather than temporary wealth. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:  My daughter has a high-interest car loan for $18,000 with a 21% interest rate and another loan for a different car; we're looking for advice on how to manage or refinance this situation.I will soon receive a substantial sum of money and am uncertain about the best way to manage it. Should I seek a financial advisor or other professional help? RESOURCES MENTIONED:Find a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.  Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Mark Biller is executive editor at Sound Mind Investing.  WHAT'S THE CURRENT STATE OF BOND INVESTING, AND HOW HAVE RECENT EVENTS IMPACTED IT?Bond investing has been challenging lately, especially after a long period of historically low interest rates. Recently, there's been a significant shift with the 30-year treasury bond yield rising from under 1% in 2020 to over 5%. This has led to losses in long-term bond funds, comparable to the worst stock market declines, showing it's a tough time for bond investors.There's been a drastic shift in the bond market, with major losses in long-term bond funds.The rise in treasury bond yields signifies a challenging environment for bond investors.This period contrasts starkly with the previous era of low interest rates. WHAT ARE THE MAIN RISKS IN BOND INVESTING, AND HOW DO THEY AFFECT BOND PRICES?The two primary risks in bond investing are credit risk and interest rate risk. Credit risk relates to the borrower's ability to make interest payments and repay the bond at maturity. Diversification across various bonds can minimize this risk. Interest rate risk is the risk of getting locked into a below-market rate of return. This risk increases with the bond's term, and when interest rates rise, bond prices fall, and vice versa.Credit risk and interest rate risk are key concerns in bond investing.Longer-term bonds are more susceptible to interest rate risk.Rising interest rates lead to falling bond prices, impacting the value of long-term bonds. HOW DOES BOND DURATION AFFECT INVESTMENTS, AND WHAT SHOULD INVESTORS KNOW?Bond duration is a measure of how long it takes for the price of a bond to be repaid by its internal cash flows. It indicates how much a bond's price will change in response to interest rate changes. For instance, a bond fund with a three-year duration would likely see a 3% price drop if interest rates rise by 1%. A longer duration means higher risk but potentially higher returns, whereas shorter durations imply lower risk and volatility.Bond duration measures a bond's sensitivity to interest rate changes.Longer duration bonds are more affected by interest rate fluctuations.Understanding duration helps investors assess and compare risks in different bond funds. WHAT ROLE DOES INFLATION PLAY IN BOND PRICES, AND HOW IS IT CONNECTED TO INTEREST RATES?Inflation directly impacts bond prices through its relationship with interest rates. High inflation typically leads to higher interest rates as central banks increase rates to combat inflation. This in turn causes bond prices to fall. Inflation is thus a significant concern for bond investors as it can diminish the value of bonds.Inflation drives up interest rates, negatively impacting bond prices.The Federal Reserve uses interest rate adjustments as a primary tool against inflation.Bond investors need to be cautious of inflation as it can reduce bond values.WHAT'S THE OUTLOOK FOR BONDS GIVEN THE POSSIBILITY OF A RECESSION IN 2024?The outlook for bonds is cautiously optimistic, especially considering the likelihood of a recession in 2024. Recessions typically lead to interest rate cuts, which would increase bond values. However, if a recession is avoided, continued inflation might lead to further interest rate increases, posing risks for long-term bonds. Diversified portfolios with short and intermediate-term bonds are advisable, as they provide stability and potential benefits in both scenarios.A recession in 2024 could lead to interest rate cuts, benefiting bond values.Avoiding a recession might result in continued rate hikes, posing risks for bonds.Diversified bond portfolios are recommended for stability in uncertain times.You can check out Sound Mind Investing’s more extensive article on bond investing— it’s titled “Duration: A Simple Way to Gauge Bond Risk.” ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:  I want to help my child pay off her six-figure student loans, but I'm unsure how to approach this, especially with the high interest rates and the possibility of loan forgiveness.I own three properties: one I live in and two rentals. At 62, should I continue paying extra towards the principal of the rentals or redirect this to the mortgage of my primary residence? Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.   Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.