This Faith in Finance podcast is underwritten in part by Timothy Plan. Good news! Since 1994, Timothy Plan has shared good news with investors and advisors by offering a family of funds that honor your faith. Learn more at TimothyPlan.com. Uh Have you ever felt like giving to your church is more of a burden than a joy?
Hi, I'm Rob West. Today we're starting a new three-part series called Why We Give. Over the next few weeks, we'll explore three common but harmful motivations for giving. Reasons that might sound spiritual on the surface, but actually miss the mark of biblical generosity. Today's topic, guilt.
Then we'll take your calls at 800-525-7000. That's 800-525-7,000. This is Faith in Finance, biblical wisdom for your financial journey. God loves a cheerful giver. That's 2 Corinthians 9:7.
But let's not miss the first part of that verse. Paul writes, Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion. Those words are important, not reluctantly and not under compulsion. In other words, giving shouldn't come from guilt, it should come from joy, freedom, and a desire to partner with God's kingdom work.
Now, I get it. Guilt is a powerful motivator. Maybe you've felt it sitting in church as the offering plate passes or a giving campaign launches and your heart sinks. Thoughts race, I haven't given enough. I'm failing God.
That kind of giving isn't rooted in grace, it's rooted in fear, and that's a problem. You see, guilt-driven generosity misses the heart of the gospel. Romans 8:1 reminds us there is no condemnation for those who are in Christ Jesus. If that's true, and it is, then we need to be very Cautious about any teaching or impulse that leads us to give because we feel condemned. Christ didn't go to the cross so we could live under spiritual guilt trips.
He went to the cross to free us from them. If you're in Christ, your guilt has been dealt with once and for all. And that includes any guilt you feel about what you did or didn't put in the offering plate.
Now, let's make an important distinction here. There's a difference between guilt and conviction. Guilt is a tool of the enemy. It isolates us. It whispers, you'll never be good enough.
But conviction?
Well, that's the work of the Holy Spirit, lovingly inviting us into deeper trust in Him. He says, Come, be transformed. Let me shape your heart. John 16:8 says, The Holy Spirit convicts us, not to shame, but to lead us into truth.
So if you feel stirred to give, not out of fear, but to reflect God's heart, that's not guilt, it's growth. Here's a helpful way to tell the difference: guilt says, I must give, or else, grace. says, I get to give because of all I've received in Christ. There's a powerful passage in Hebrews 9 that explains how the blood of Christ cleanses us so we can serve God with a clear conscience. Verse 14 says this, how much more then will the blood of Christ cleanse our consciences from acts that lead to death so that we may serve the living God?
Notice that. It's only when our consciences are cleansed that we're truly free to serve. The same is true with giving. We can't give faithfully while carrying guilt. We need to be reminded of the gospel, of grace.
Here's the irony. Giving out of guilt actually blocks the transformation that generosity is meant to bring. When we give cheerfully, we're reminded that all we have is from God, that we're stewards, not owners. That reshapes us from the inside out. Let me say it this way.
When we give out of guilt, we're missing out on walking in the freedom of the gospel. But when we give with joy, we're declaring that Jesus is enough. We don't give to earn God's love. We already have it. We don't give to cover up shame.
Jesus already took that. We give because we've been invited to participate in something beautiful, God's kingdom work in the world.
So what if you realize that guilt has been shaping your giving?
Well, first, bring that to the Lord. Don't run from it. Confess it and ask him to renew your heart. Second, reflect on how God has provided. Gratitude is the seedbed of generosity.
When we remember what God has already done, we stop giving to earn his favor and start giving because we already have it. And finally, ask, what does joyful giving look like in this season? Not compared to others, but in light of your own journey with God. Because God isn't after your money, He's after your heart. And when He has your heart, generosity will follow, not from guilt, but from grace.
By the way, you can explore more on this topic, giving for the right reasons in the latest issue of Faithful Steward, our quarterly magazine for Faith Phi partners. When you give $35 a month or a one-time gift of $400 or more per year, you'll join a community committed to spreading biblical financial wisdom. You can become a partner today or learn more at faithfi.com/slash partner. That's faithfi.com/slash partner. And by the way, as a listener-supported ministry, partners are critical to the work we do so we can equip millions to be wise and faithful stewards.
Now, next week, we'll continue this series by looking at another harmful motivation for giving: control. Your calls are next: 800-525-7000. We'll be right back. At FaithFi, we believe that money is a tool to advance God's kingdom. When you become a FaithFi partner, you help more people discover the freedom of biblical stewardship and the joy of seeing God as their ultimate treasure.
As a thank you, you'll get early access to our newest studies and devotionals, our quarterly Faithful Steward magazine, and the pro version of the FaithFi app. Become a FaithFi partner with your gift of $35 a month or $400 a year at faith5.com/slash partner. Faith in Finance is grateful for support from Sound Mind Investing. For more than 30 years, they've offered financial wisdom for living well. SMI provides step-by-step guidance for do-it-yourself investors, from those just getting started to those getting ready for retirement.
More information, including a short video webinar on profit and peace of mind no matter what's happening in the market, is available at soundmindinvesting.org. Thanks for joining us today on Faith and Finance. I'm Rob West. Looking forward to taking your calls and questions today on anything financial. The lines are open.
We're ready for you. The number to call: 800-525-7000. No matter what you're thinking about in your financial life, here's what we recognize: we start with the idea that money is a good gift from God. That's right, it's for our delight. We serve the God who created joy, He created money.
And so we use it to deepen relationships, we use it for a joyful celebration as we enjoy a great meal with family. We give it away to love people and support the work of the Lord and our communities and around the world. We invest it in a way, hopefully, that's supplying capital to business that are creating goods that are good and services that serve people. And that's just a part of God's design.
Now, we live in a fallen world, and so that's where the creation-well, when we worship the creator, Over the creator, it becomes really problematic. And there's a seductive nature of wealth, especially living where we live in the most prosperous nation in the history of the world. Money can rival our hearts for devotion to God. We can't let that happen.
So each day we try to recenter you, and we're talking to ourselves at the same time around a biblical worldview of money, taking you into the heart of God and scripture. But also, we know that you have very practical decisions that you're making every day around your spending plan and around your investments and providing for your kids and saving for the future and getting out of debt and managing that credit score and all the things that come along with money management.
Well, that's what this program is for: to bring encouragement, to bring hope, to take you back to God's word, but also to address your specific questions.
So if you have a question today, something in your financial life, go ahead and call right now. The rest of the show is yours. 800-525-7000 is the number to call. Again, that's 800-5257,000. We will look forward to hearing from you today.
The calls are coming in, so this is a great time to get in the queue because we still have some lines open. Again, 800-525-7000. Let's go to Ohio Seth. How can I help you, sir? Hi, Rob.
Really appreciate you taking my question. I have a question regarding life insurance. I'm in my early 40s and have a history of cancer, which has made it difficult to qualify for traditional life insurance. I have some. Life insurance provided through an employer policy, but not enough that makes us comfortable and to be true income replacement for me and with my wife who does not work, and we have four young kids.
I was wondering if there's any tips or direction you could give for somebody in my situation of companies that may be more open to covering cancer survivors and just things I could do to help improve my chance of gaining coverage. Yeah.
Well, are are you on the other side of it? Are you cancer free at this point, Seth? I am cancer free and have been more than ten years.
So I was surprised to see some of the denials that I got. I thought for being that far out, it wouldn't be as big of an issue, but it's been a few times now that I've been denied coverage. Yeah, no, certainly. I understand.
Well, I'm delighted to hear that you are in a good spot right now with regard to being cancer-free. That's great. You know, certain companies are more lenient than others when it comes to a history of cancer.
Now, it is going to depend on the type of cancer, the stage and grade, the time since your last treatment, and then any ongoing health and follow-ups. I think that's where using an independent insurance broker is going to be really helpful. Number one, they may, you know, often know of those companies that are going to treat it more favorably. They can shop dozens of companies because they're not captive with one particular company.
So they can, you know, really look across a wide range of companies. And, you know, some of those that are more favorable would be, you know, I know Mutual of Omaha would be known for their considering applicants, you know, somewhere as soon as one to five years post-treatment. Protective Life would be another one. Banner Life, Pacific Life.
So, you know, there are companies that, again, with good follow-up care and long-term remission, are going to treat this more favorably with others. And you need to kind of be able to zero in on those particular life insurance companies that are going to give you the most favorable ratings.
So I would say work with an independent broker. They know which companies are more likely to say yes, have all your medical records and treatment summaries ready. Expect a medical exam and full underwriting. And then the time since remission is critical, most companies are going to want to see three to 10 years cancer-free, depending on the type. But I think that's your next step.
You could also look at some online services like Policy Genius or Quotacy would be another one that you could look at. Hope that helps, Seth. All the best to you, my friend. We appreciate you calling today. God bless you.
Let's see. We'll go to St. Louis next. Bobby, go ahead. Hello.
I think the bottom line for us is How much is enough? My wife is still working, she's 71, and I have 10 properties, including the one I live in. Because of COVID and a flood, we've been rehabbing for the last couple of years.
So only one, or I just about to rent two out of the, I guess I'd have six more to get going, which are about ready to go. But the bottom line is my wife's still working, and I said to her earlier. Our personal expenditures are so much less than our business expenses That if we just fold things as they are without even fixing them all up, even though I would get much less. We might be better off. Yeah.
And so, are you wanting to? I mean, there's a couple of sides to this equation. You know, one side is maximizing the value of the asset just as good stewardship, whether or not you need the money or, you know, after you sell it, you give it away. The other side of it is just the hassle factor of that, you know, process of construction and renovation. I realize, you know, that's probably not something you're looking to take on right now.
And so, you know, you could just sell them as is and unload them. Could you make a case that, you know, with just some really thoughtful and even minor repairs or renovations for certain strategic things, you could perhaps generate a little bit more, possibly. But I don't think there's anything wrong with selling them as is. I think the key is: what is that plan? You've already said, you know, how much is enough?
And I think that's the right question to be asking in this season of life with 10 homes and income that far exceeds your expenses. I think it's really all about a finish line.
Sounds like you've Already set that finish line with regard to your lifestyle. I think the next finish line is regarding accumulation, just your balance sheet. And to the extent you've already exceeded that, you know, what does it look like to start giving some of this away now to get it into the kingdom? But give me your thoughts on all that, and if you had any specific questions that I didn't address.
Well, the first thing that you did address is the maximizing the potential profit versus the hassle factor. I get probably four postcards a week at least from other investors that want to buy my property. Because they want to maximize it. Yes. But the hassle factor, and part of that hassle is my wife is still working.
Yeah.
And she's 71, has started to have severe arthritis and you know, we're getting into our dental implants. No no life threatening issues, but dental implants and There are some you know, w it's it's getting harder physically. Yes. And I used to administer a missionary, and I'd that's what I'd rather be doing. Yes, yes.
Well, and I think there's something to be said about that. I mean, you know, one option might be you get a realtor in there or a couple of them, just given the number of properties, and just look at what are the things we can do at a minimum, you know, maybe boosting the curb appeal and you know, fresh paint and flooring. You know, if the repairs exceed 10 to 15 percent of the home value and you're in a hot market, you know, as is, saves time, but may cut the price by 20 to 30 percent.
So, I think getting a real estate professional alongside maybe a contractor who would look at the whole portfolio of homes and maybe even come in and manage, you know, some somewhat minor renovations just to deal with some of the glaring issues might help you maximize the value and begin to sell those off. We'll finish up off the air. Stay right there. We'll be right back. We're grateful for support from Movement Mortgage, who provides residential home loans in all 50 states.
Guided by a mission to love and value people and a goal to redefine the mortgage process, Movement seeks to help others achieve their financial goals. You can find out more at movement.com slash faith. Movement Mortgage LLC supports Equal Housing Opportunity, NMLS number 39179. For licensing information, please visit nmlsconsumeraccess.org. We are grateful for support from Timothy Plan.
Since 1994, Timothy Plan has shared good news with investors and advisors by offering faith-honoring mutual funds and exchange-traded funds. More information is at TimothyPlan.com. The investment objectives, risks, charges, and expenses are contained in the prospectus and summary prospectus available at timothyplan.com. Mutual funds distributed by Timothy Partners Limited and ETFs distributed by Foreside Funds Services LLC. Investing involves risks, including possible loss of principal.
Great to have you with us today on Faith and Finance. I'm Rob West. We're taking your calls and questions today. Let's get right back to the phones out to Chicago. Hi, Betty.
Go ahead. Hi, I'll considering getting a loan of $20,000 to $30,000 for home repair. We have kind of a large balance on our mortgage. It's like over $300,000. Um we uh my husband's retired.
I'm 62. I'm still working. Um he gets his Social Security plus. He does work on the side in his own business.
Now, I had open heart surgery. And while I was convalescing, I was tithing like normal, and I had prayed. Right after my surgery in the hospital, when I came to, I said, Lord, thank you for my life and please allow us to be able to pay this bill where we won't lose everything and be on the street. We were blessed with A bill of over $200,000, which I know that sounds weird, like a blessing. The blessing is that the hospital said I had no balance.
So, this is my question. We want to get a loan, and we want to know what is the best. type of loan because our mortgage company will not give us a loan unless we do a cash out refi, and we don't want to do that. And we have a really good rate. Yeah, I was gonna ask.
So you've got one in the twos or the threes? The threes, yeah, we got like three point two five or something like that.
So we don't wanna and you know, we do have a income coming in from the second floor tenant, which, you know, that's not always a guarantee that they're gonna renew their lease or anything, but we're not struggling, we're doing okay, but I need to know what's the best way. I have my pension. The the home is worth like, um, I think like six hundred thousand dollars.
Okay, and what do you owe on it? What's the first mortgage balance? Like three hundred it's the only mortgage balance. We've only um we only bought it like five or six years ago.
So we owe like three hundred and I want to say like $349,000 on it. I'm just guessing off the top of my head. Yeah.
So you've got quite a bit of equity in it, which is great. And so, you know, usually lenders will allow you to borrow up to 80 or 85% if you're adding, you know, an additional mortgage there. And so that, you know, you have, you would have plenty of equity to get a second loan on it. You know, generally, what I would recommend at this point, just where based on where rates are, is to get a home equity line of credit, which is a variable rate. The good news about that is even though it'll be high, because rates right now are sitting at around eight and a quarter for a HELOC, that's about the average.
They could go down, you know, could go down in the high sixes if you have a really good credit score and you look for somebody who's offering an introductory kind of low rate right up front for the HELOC. But generally speaking, you're talking north of 8%.
So I think the key would be you get that line of credit. You use as little as possible, but Just make sure you have the ability to service that loan and not just the interest only, but a payment that would allow you to get that paid off over time, hopefully in 10 years or less. But that would be the way to do it. You don't want to touch that first mortgage. You certainly don't want to do a cash out refi.
You want to do a home equity line of credit only for what you need, borrow as little as possible, get it paid back as quickly as you can.
Now, if you guys get into a situation where you just money is tight and you're not able to, you know, really cover the first mortgage, or just by getting rid of that mortgage payment, it would be a game changer in your financial life right now because it's your largest expense. That's where you may want to look at a reverse mortgage because that would allow you to get rid of that mortgage payment.
Now, your current balance, the $350 or so, would grow in interest and fees, but it would just be paid out of the sale of the home at your death or when you move. But that's something to at least consider. Thanks for your call today. Let's head to Lancaster, PA. Hi, Ann.
Go ahead. Yes, thank you Rob for taking my call. Yes, my husband and I, we have been debt-free for about 20 years and so we thank God for that. But recently we purchased our second home for our special needs adult son so that he can live in there. And this kind of a home is a new concept.
But we are back to paying a mortgage again and so it's putting a bit of a strain on our finances until we get things up and running. The house needed some more work than we realized, plus we have to fully furnish the house as well.
So our question is surrounding paying our tithe. We have been faithful tithe givers to our church. But because of this new challenge here in our lives, it's made things kind of difficult. And we were just wondering if we can withhold the tithe for a time till we get our son moved in the house. Is that, yeah, we want to do the right thing, so I'm not sure.
Well, I appreciate that question. And I appreciate that, you know, you want to honor the Lord and yet you want to provide for your family. Both are very clearly biblical. I would say at the end of the day, this is a decision that needs to be made between you and your husband and the Lord. What we know about New Testament giving is that it's giving proportionately.
So I like the idea, the principle of the Old Testament tithe, which Jesus references, although we're no longer under the law of Moses. I think that as a guideline for our giving should be systematic based on the increase starting with the local church. But New Testament giving, kind of the framework, if you will, is around proportionate giving, freely giving, so not under compulsion or obligation. Sacrificial giving, you know, those would be kind of the hallmarks of our giving as a New Testament believer. And, you know, when we look at these two ideas, I mean, what I would love for you all to do is no matter what, to continue to be a percentage giver, giving off of your increase, starting with the local church as to the amount, because we're not being legalistic about it.
We're not trying to check a box. We're giving as an act of worship and we're giving freely. Again, what that looks like as you balance all of the competing priorities you have, including providing for your son, I think is between you and the Lord. What I would say is, let's try to find other ways for you to be able to come up with that money. Are there other areas you can cut back in?
But if you all have done the hard work and you say, listen, we think we've skinnied this budget up the very best we can. And for a season, we feel like we're going to continue to be a percentage giver, but it's going to be a lower percentage than it has been. You know, I think that's perfectly appropriate. As long as you pray through that and feel good about that, then you know, again, I don't think there's anything where you need to feel like you've missed the mark or you certainly don't need to feel guilty about that. I think the Lord knows your heart.
And at the end of the day, I think He's delighted that you're caring for this son of yours. And obviously, there's expenses there, and He has medical needs that have required you all to step in. And so, if that impacts your ability to give at the level you would like to give, you know, I don't see any problem with that. But I would keep that muscle of giving systematically going, even if you dial it back. But at the end of the day, I think this is a decision you all need to make with the Lord.
Does that make sense? Yes, it does. Yes. Okay.
Well, thank you. That really sheds some light on the situation. Thank you so much. All right, Ann. God bless you, and all the best to you and your husband as you care for your special needs son.
If we can serve you in any way in the future, let us know. Hey, thanks for being along with us today, folks. Remember, we want God to be your ultimate treasure and money tool to accomplish his purposes. On behalf of my team today, Jim Henry, Devin Patrick, and Robert Youngblood, I'm Rob West. We're so thankful you were with us today.
Come back and join us tomorrow. We'll see you then. Bye-bye. Faith in Finance is provided by FaithFi and listeners like you.
