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How to Choose a Budgeting App

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
November 3, 2021 10:21 am

How to Choose a Budgeting App

MoneyWise / Rob West and Steve Moore

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November 3, 2021 10:21 am

Did you know that two thirds of smartphone users have at least one budgeting app? They’ve discovered how easy it is to keep tabs on their money from anywhere. On today's MoneyWise Live, host Rob West will talk with Chad Clark about how to make your life easier by choosing the right budgeting app. Then Rob will take your calls on various financial questions from a biblical perspective. 

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Received notices from so-called credit restoration companies, claiming they can fix your credit though in reality, only you can do fibroblast coven and set a devastating impact on the finances of millions of families unable to pay their bills on time, their credit histories are taken ahead of talk about how to correct the limits on your calls at 800-525-7000 800-525-7000. This is moneywise live financial journey so as I said, there's nothing company can do to improve your credit score that you can do yourself. Don't be taken in by those offers restoring your credit takes time and discipline, and no one can do it but you. This truth is, most black marks on your credit report will stay there for seven years and there's almost nothing you can do about it.

I say almost because there are a couple of things you can do, but only under certain circumstances. First, you can only successfully disputed late payments on your credit report if they're incorrect and you'll definitely want to do that because your payment history makes up 35% of your FICA score. Start by getting your credit reports produced by the three credit reporting bureaus, Experian and Equifax and Trans Union that you can do sign up there. Follow the instructions and the site will provide you with your credit reports you have to request them individually from each of the three bureaus then check to make sure the line item with your late payment or collection item is correct. If it isn't, you can disputed right there online now. If a black mark is accurate. You want to pay off that debt is quickly as possible, or at least bring it up to date.

It won't improve your credit but it will minimize the damage and start the clock ticking toward the date the item will be removed from your report that you might think that by paying off the debt that was in arrears the black mark will come off your report, but it doesn't and it won't raise your score. But it will show that you've taken responsibility for the debt and made good on it again damage control after the second way you actually can have a damaging item removed from your reports. Let's say you been getting notices from a company that says you have an unpaid bill. You say you don't let's say you know you don't and you've been getting nowhere with customer relations may be returned item and it was recorded on their end or you never received it. And finally, it does go to collections and that shows up on your report. You can have that gone to collections item temporarily taken off your report because your disputing the charge the credit bureaus will then give the company 30 days to respond, and if it doesn't, the item stays off your report now. All of this can seem a bit complicated, especially if you're panicking about seeing a black mark or marks on your credit reports they'll lower your score and negatively impact the interest rate you will be offered if you apply for a loan they could even prevent you from getting a loan at all and that's why these fly-by-night outfits that claim to be able to fix your credit are so successful, though often promised to have collection accounts removed from your report and of course they want an upfront fee for their so-called services don't fall for it.

Now you know. Only you can improve your credit but let's look at just one of the highly questionable practices. These companies use they might tell you to dispute every single item on your credit report.

Whether it's accurate or not. The hope is that the original lender will be too busy or too distracted to respond to the credit bureaus request for verification of the legitimately reported late payment and occasionally that does happen.

If it does, you've gotten away with not paying a bill on time or not paying it at all. As followers of Christ, we should never do that because it's just simply dishonest.

Proverbs 21 three teaches to do what is right and just, is more acceptable to the Lord then sacrifice them.

Romans 13 give to everyone what you owe them if you owe taxes, pay taxes if revenue than revenue.

Now there's some good news relating to the fact that legitimate black marks stay on your credit report for seven years. You can't change that but on the other hand, they won't carry the same weight as time goes by. In fact, after just two years they start to have less impact on your credit score.

As long as you pay all of your other bills on time and make progress paying off your debt.

Your score will continue to cheer and that should encourage you to keep going with your plan to restore bottom-line stay on top of this be checking your credit reports at least every quarter so you can spot those black marks that perhaps are in accurate and removed. And if you stay on top of that you make sure you're getting the best rates and terms. Anytime you see are your calls or next year's number 800-525-7000. That's 800-525-7000. This is moneywise live biblical wisdom for your financial delighted to have you with us today.

I moneywise live in Houston just a moment. Will be taking your calls on anything financial, run your questions through the lens of biblical principles and biblical truth and see if we can help you move forward with confidence. You know is I was thinking this morning about the presentation I'm giving next week on money you know so much of our finances.

We tend to focus on the outcomes we think about the fact we want to pay off debt. We want to give more. Perhaps we like to save a bit more for the future but you know we've got it back up a few steps you would got to start with our beliefs and where they came from you what his shaped our view of money largely that comes from how we were raised. What are earliest memories of money was money like growing up was tight was her plenty did your parents live on a budget and you know so much of how both Calgon is wired us as well as our upbringing shapes how we view money today, and it can lead us to incorrect thinking about money and so we always need to take our beliefs and run them against applicable wisdom to say what is God's word say where do I need to correct my thinking about money, starting with the fact that God owns it all and I'm his steward and money is a tool to accomplish his purposes, and it's not in the end it's a means to an end and moving right on from there and then we need to develop the rhythms and managing money every day in communicating with our spouse and thinking about goalsetting and gratitude in all of the things that we need to have as routines that ultimately allow us to drive toward the outcomes and we moved from belief into our behaviors and ultimately to our outcomes or our goals that allows us to make sustainable progress. Well, what help you do that by looking at the Council Scripture and applying it to what you're dealing with in your financial life today so what's on your mind. Give us a call. We have lines open 800-525-7000 is the number that's 800-525-7000. Let's begin today in Oklahoma hi Linda, how can I help you hello to Kristin about the extent that not all parties can vaguely help you get out of bed yesterday, but about the Christian outfit that Satan thing credit on this radio station.

I can't think of a name. Yes yeah I think the key is to recognize the difference in this is often a big misconception when the sum I'm glad you raised it you know there are folks that do what is called debt settlement and that's typically what were you referring to. Now that doesn't mean all debt settlement companies are scam, although that particular industry is prone to scams, but here's why we don't recommend it. They're going to ask you to stop paying your bills. Number one I don't think that supported in Scripture, but number two.

Unless you're forced to. You just simply can't pay them but number two it's going to trash your credit and there to go in and try to negotiate a reduced payoff but the collateral damage is already done. That's the kind of thing that I would say debt settlement.

You don't want to do. The other option that's often presented in the spaces what's called debt consolidation. That's where you take out a new loan to pay off the other loans and try to move forward with a lower interest rate. The problem is that that new loan often has a longer payback. So even at a lower interest rate.

You may pay back more, but the other issue is it doesn't solve the real problem which is overspending typically and so normally six months to a year later you will have folks that not only have this new consolidation loan but the credit card debt is back up because we didn't solve the underlying issue so I would encourage you to stay away from that credit or debt settlement. I would encourage you to stay away from debt consolidation. What we encourage and that's what you hear on this program and throughout the day on Moody radio is debt management that hears and that's different. These are programs that are in place by the credit card companies where if you use a nonprofit credit counseling agency bill actually offer lower interest rates, lower payments and help you get out of debt.

80% faster.

It's a program that's already in place. You just slide right in, but more importantly than that.

The that we recommend are all believers that can help you set up a budget, make sure the plan fits into your budget and then help you pay it off once and for all, which by the way, when you do that every month and do the hard work and get on a budget.

The plan is that you get out of debt. Learning the habits you need to put in place so you don't ever repeat that again so Linda Lamy asked. Does that make sense as to the distinction between the different things that were talking about aunt Mary met that Dan, thank you. I don't ever yet like I don't have the number handy, but I can give you the website, it's Christian credit Christian credit and if you head over to the website you'll see how you can quickly get connected with them and they'll help you pay that debt off once and for all. In fact, I do have the number here is 800-557-1985. That's 800-557-1985, and we appreciate your call today. Ruth is in Ohio hi Ruth, how can I help you, my call had 80,000 in credit card that we had on our house on cars and we are just way behind. We got and we can put out while working on working on our traveling chair and having an emergency find and then acquire something came up. My husband's parents are in their mid-70s and were in our mid-50s and they're not going to have a place to live in a month or two and suddenly were at. Do we go and take out another home, lonely item a really small house and then work through a mortgage for the last 10 years of our working life or how I was doing going to bed again, trying to get bank bailout family. That's how we got in trouble years ago was because we're helping bailout a lot of different relatives in their homes and so forth. And more like we don't know what tops entire.

We feel responsibility towards parents, but they didn't work much.

They never cared. They took their stimulus and bought games and TVs and not a physical care in the world and now there with nothing and were like what we do.

This is one of the most challenging situations. Ruth, because as you said you want to honor your parents.

And clearly that's biblical and yet you're watching the behaviors that don't line up with biblical wisdom, and even just conventional wisdom which usually is biblical and you've done the hard work to get yourselves back on a solid financial footing and the last thing you want to do is go back into that and I don't think the Lord would have you to do that in the sense that put yourself in a position where you're going to create a real financial hardship doesn't mean you shouldn't sacrifice it doesn't mean there may not be a place for you all to help. The question is how much and in what way and how do you put the guardrails up so that number one you're protecting yourselves and what God has entrusted to you as the stewards of that to provide for your family and have something for the future and yet honor your parents. Even in the midst of perhaps you watching them make some poor choices that has resulted in the situation. So let's talk about, what the options are. So what is the the pressing need at this point for them heart surgery and have her had diabetes and mom is having some walking problems so they definitely could not work or subsidize their on some Social Security right now and they're living with his sister who's on so security while not so security I get welfare or and her two daughters are both also welfare there in their 20s and they were all making you know when will payments together, but none of them ever really wanted to work and were just like when I wake throwing away money where family responsibility for quality went through all the extra money they guy and so now they just have the Social Security and welfare and nap that so what would it take to right size the monthly spending around the guaranteed income sources. They have through Social Security and disability. Whatever else they have coming in. Is there a gap that could be solved for with just them living within their means, or is it were going to require them to literally move out of this no current home there living in, and so forth. And without the person doesn't want them in there anymore and so they would have to move out and find a new place and I most likely get rid of their pets because most places won't take Pat and I it's unfortunate that is very hard to get an honest answer out of them. They don't give you the right amount that they actually bring in, and even if they did they act like you want to steal it. If you try to get them a budget is to basically give us money. Let us do this will pick which house we want and were like we almost ruined ourselves once doing that we really don't want to walk into that again.

And that's what I see no end and here's the thing, you can have a desire to help, you can come alongside with meaningful help, but that doesn't mean you need to abandon just sound thinking and discernment with regard to what's prudent moving forward both for them to for you all to protect them from themselves and to not put yourself in a financially difficult spot. So I think you need to insist that they be willing to be held accountable and if not by you by 1/3 party. Perhaps one of our money wise coaches could help.

Perhaps you say listen, we want to be helpful, but we're not good, just as you said were not to get ourselves back into a financial hardship and we want to do it in the right way and that means there's gotta be transparency if you don't want to give us that, then that's fine, you're gonna have to choose then to make that decision and figure this out yourselves, but if you want us to be there with you because we love you and we want to assist then we gotta do it in a way that provides for transparency, wise decision-making, and God honoring steps that so perhaps you say listen first step is visit with her moneywise coach or someone else that's going to get a budget with the spending plan in place with income sources with expenses and I think that's then the starting point because obviously you want to try to find housing fits within their income as long as they're willing to make changes to bring everything in line returning in the moneywise live around West to host the moneywise.

If not, it's a great time to do it. We just released version 3 a few weeks ago and it's the very first to have it have three money management system and I was sharing at the top of the program that we all have different money personalities.

Some of us are detailed and want to know everything track to the penny others we call directional. You don't want to chase it down to the penny but you want to know you're headed in the right direction. Others are hands-on, meaning they want to be in active with their finances and others are hands-off, they want things moving in the right direction, but they like to sit back and perhaps just got a drop in every now and then, well, depending upon which you are hands-on or hands-off, or perhaps your detailed or directional that has to do with how God is wired you and we have a money management system that fits all of them.

We have the system for the directional folks were you're just tracking and seeing where your money is going. We have one for those are kind of in the middle you want to make a plan and you wanted look at your spending against that plan, but you don't want to tie down to the penny and then for you detailed in active folks. We got the digital envelope system or your literally tied back to the penny to your funding accounts with envelopes that are funded transactions going against them.

So at any moment you can see exactly what's in every envelope in your plan and you can switch between the three. At any given time. It's a great system.

It's one that I've never seen before.

Our team has worked really hard and I think it's the best one out there so check it out today had to your app store. Just search for moneywise biblical finance and we'd love for you to check it out. Let us know what you think piloted back to the phones we got just a few lines open. Here's the number 800-525-7000. That's 800-525-7000 were going next to Durrant, Iowa hi Ed, how can I help you and you a I want to talk to just to share a thought or idea about about how to improve your credit score. Yeah.

So let's say that I am credit card owner and then now I don't pay my statement until I get it in the mail and then there's a new balance and then I pay I want to pay it all off because I want to try to look good and want to be less than Mariska Lightfoot paid off every month that if you can't finances and you pay on your account before year cutoff date. So let's see if I thought a charge of thousand bucks last month used in then get it so I know it's kind of my statement that company to come in the mail should be a thousand bucks. But if I can dictate the month. This is an example that if I pay that off before talking like the six amount, then that's can it show that pizza pie that were losing their and let me just recap what you say because enforcing or breaking up and I want folks to get this your you're exactly right here here's the thing you if you pay based on the statement balance after the cut off before the due date. What's can be reported to the Bureau is not the zero balance that you have after you pay it off, but the balance you had before you paid it off so you may be handling credit very wisely paying your balance off in full every month but that balance as of the statement cutoff is still reported to the Bureau and so that's what's going to show up as your balance. If you pull the report during the month prior to the next reporting. Now I think what you're getting at is, if that ballot.

That's is higher than 30% of your limit that actually want to pull your score down. Now most people, though their limit is much higher than what they would put on their card in any given 30 day.

And so as long as you make sure you're keeping it below 30%, preferably below 10%. That's going to help your score. And if you want that to show a zero you need. As Ed said to pay that off before the end of the statement.

Because that's can be reported euro.

Bottom line is I know this gets complicated just manage credit wisely by borrowing as little as you can as quick as you can. And definitely don't carry a balance in order to pause or break 805 five 7000 think it great to have you with us today. I moneywise live on the western coast are talking of the top of the program about restoring your credit. We have a great article on featured on moneywise related to credit reports and scores you want to learn more about what is a credit report and credit score. How can you improve them right article from compass, finances, God's way is right there on the homepage moneywise and by the way while you're there, accruing a free moneywise account that will make sure that when the weekly wisdom email goes out this Thursday. You're included I'll share a few thoughts on biblical financial wisdom will give your trending podcasts will share any of our new articles that we think you need to see it's just a real encouragement every week as you try to live God's way in terms of how you handle your money again just gray to freak out when you visit moneywise we got slides open 800 525 7000s number to call, but said right back to the phone, Chicago, Illinois hi Randy, how can I help user are like you you virtual and 50 years old and I have about seven years before I retire and I like to pay off my mortgage which I have hundred 40,000 left on it before then and just want to get your idea. My strategy was to potentially add more money to the monthly monthly payment and but then I would probably decrease a little bit of my money going in my 401(k) yes yeah well let's talk about that for second that you done some retirement planning.

Do you know what your ultimate goal is in order to be able to draw the income you need to supplement Social Security and fund your lifestyle. Yes. Okay. And how does that goal. Compare to your current trajectory with your retirement accounts that we believe them on track.

I'm on track to and I basically need to know about 3K per month to live comfortably and able to vacation what was so for the company on track to do it doing that so on.

So yeah, I think I'm on track. There are rights and what is the current if you just continue with what you're currently doing on the mortgage. Whether that's just the payment or the payment plus something extra. Do you have a sense of how long your payback will be just without doing anything beyond what you're currently doing well so I have 27 years left on the loan and I can say I know that if your client will be more per month toward the principal and I can significantly knock that down okay well I mean I'm on board with this idea that you would accelerate the mortgage payback.

Perhaps we split the difference to me. I think you need to get in and use a mortgage calculator online and there's a million of them that are free and basically putting your details. What is your interest rate. What is your current field payment and in the other balance on the mortgage and then begin to look at what it would take extra per month for you to know cut this 27 years down to seven. It's gonna be a significant sum and then compare that to what that would mean in terms of first let's look at places in the budget, you can trim to generate that kind of extra margin for debt reduction but if you have to go to the retirement account. I think the key is to really just analyze what would be going in and you know what that would mean based on what you already accumulated and what you would now be adding to it as a lower amount based on a modest rate of return. I probably use 6% over the next seven years and just see where you'd end up because ideally you'd be able to arrive at that, the savings goal you are targeting and have that mortgage paid off. The benefit there is obviously that dramatically reduces your monthly need, because you're eliminating what is arguably the largest expense in your budget. So I like that idea.

But I also want you to take advantage of these last seven years of compounding and I think the question is can you do both perhaps dial back the retirement account dial up the mortgage, payback, and if it's not right at seven years you know it's shortly after, but I think you need to do. Perhaps a little bit more analysis on what is going to take extra per month to get that mortgage paid off in the time when you're describing and what would that mean in terms of what you can expect your based on this lower amount going into your retirement plan and a 6% rate of return over the next seven years and let's just see hypothetically where you'd end up in ideally the retirement account would be such that you took a 4% withdrawal every year. It would give you enough to cover your expenses. You know alongside Social Security to set all make sense though yes yes Ergos okay so I think that's the next step after you do that analysis. If you have some questions and you're struggling to make the final decision on where to go next.

Give us a call back but in the meantime, God bless you Randy. We appreciate your call today. Let's head to Tennessee is Sarah how can I help you hello Bob how are you very well, sir, thank you for going you know I appreciate so much will you show I'm in.

Every time I go anywhere and listen to show and thank you. I love to question is that is Nikon is the government I can my prescription Bob as you know, I did a great decision this year.

I closed all my credit cards put out daily online.

I think credit cards and loans they load them up. Father, so that the unfortunate in the system is designed in a way. Anyways good it's going so is the way to be my credit without having to cut out all that's my first question because I don't have any Flemish my second question is about bankruptcy, you know, as you know very well and thank you for your show.

All of these millionaires incorporation this concept of blue on fighting bankruptcy, but we like the middle class. The people who don't have a lot of knowledge that it was me you have these futile. If I find this would have been all that would happen so what is the consequences of negative thought that that comes all fighting bankruptcy because I don't have clear understanding so both out to my question so that appreciate what is show I would never have credit cards. I would and would not let me if I'm being emotional and I think I better. I am so happy because I thought money coming in. One includes a credit card so please give me a new wave them on this, two things have been deserted. Thank you for your kind remarks will start with the credit card you know if you the conviction about not having credit or credit cards have been a problem area for you than I would wholly concur with your conclusion. You're right though, the system will penalize you for that. In terms of the credit score because the algorithms at least today and there's some talk that other factors will be brought into measure your credit worthiness in the future, but today the algorithms to determine how likely you are to repay as agreed, are largely based on your payment history. Your balances versus your limits and your credit mix. What types of credit do you have that you're able to handle a wide range of credit from revolving two installment and the history that you been doing this for a long time. The problem is if you take those off the table, then you're no longer able to demonstrate your credit history that you're willing to enable the pay on time so a solution to that would be a secured card, put a certain amount on deposit. Let's say $200 and then you charge against it and only put just one small budgeted recurring charge on the account every month and then pay it right off. And that's good to be reported to the Bureau, and as long as you're not violating your conviction.

I think that's a way to show that you are going to be in on time. Month but not get caught in the trap of building only three others question on the other side of the brain. Things are turning into moneywise live on glass. This is biblical wisdom for your financial decisions.

Just before the break, Zarin called in from Tennessee with some very kind remarks about the program, which I'm grateful for. We talked about his reluctance to have credit cards any longer and the implications of that on his credit score, but he also acts asked about the consequences of filing bankruptcy and I would say zeroed first and foremost would be our obligation to honor our debts to follow and honor our commitments and that would include commitments meet we've made financially now bankruptcy. You won't find that term in the Bible. It's a modern legal term that we've created. And I would say it's not a sin to file bankruptcy. What I believe, though, is certainly I believe the ascend based on Scripture would be you're not paying your debts. If you have the ability to do so. The Bible says the wicked borrows and does not repay it says so don't neglect being able to satisfy the debt. If you have the ability to do so and so we should be purchasing ourselves to honor our obligations.

Now you may find yourself at any point in a situation, perhaps not even of your own doing. You lost a job or severe medical situation where you're just unable to pay, and you may be forced into bankruptcy will that's not the issue. You may have to go down that road, but I think as many have done in the past you should come out of that looking to say. Can I still honor my debts, you might take me a long time but I'm committed to that approach. What are the implications from a negative standpoint. Well, you'll obviously have a impact on your credit report to be difficult to obtain a mortgage or loan, you could lose property real estate will be denied tax refunds, at least those leading up to the discharge. Your nondischargeable debts remain like student loans so you know if there are there's a lot of fallout from bankruptcy, but I think the overriding principle is as believers we should honor our obligations, but I appreciate you asking the question Zarin and if we can best serve you at any point in the future give us a call back before we take our final calls for today were going to pay that to the segment that we normally have on Monday. Today joining us on Tuesday is our good friend Bob Dall is chief investment officer at crossbar global investments where investments and values intersecting. You can learn more across more Bob joins us with his market commentary and bottom curious what you looking at today economically in market related I think it onward and upward. We said how many weeks on the road path of least resistance to the upside. And that's what were enjoying the stock market recovered from that 6% decline in a few weeks ago. Very quickly and very smartly on the back of third quarter earnings.

That's the story. There are other stories like what's going on in Washington DC and the Fed with the main story is corporate earnings in the third quarter, one more time. Better-than-expected corporate America is finding ways to pass on price increases to make up for the cost pressures and the supply shortage problem that everybody's aware yeah I saw your Dall's deliberations this week that nearly 80% of companies in the S&P 500 beat estimates with some big surprises coming in certain sectors. What about growth estimates though for the economy moving forward. Given that the COBIT has not gone away, and we've had these supply chain disruptions will they clearly both those issues load the initial estimate for third-quarter GDP to 2%. That's the lowest growth rate we've had in some time and reference below the 6.7% that we saw on the second quarter, but Rob I think that 2% in the third quarter will mark the low the summary acceleration, both as consumers have a lot of money to spend. Corporations are investing in their business were having some signs of relief of the supply shortage and in many places the COBIT Delta variant is lessening to put all that together I think were going to have a pretty good fourth quarter but we hear this term stagflation thrown around and we know what inflation is what is stagflation, and should we be concerned about that stagflation is low economic growth and high inflation and we did experience some of that a few decades ago, but I think all this talk about stagflation is that it is not appropriate. Why do I say that because growth is strong with the weakest quarters 2% and before was 6.7. Let's suppose we get 4% in the in the fourth quarter. That's hardly very low growth, high inflation, higher inflation, the trailing 12 month headline numbers are in the 55 point something that's high inflation but you need you need growth like 0 to 2% inflation. The 6 to 8 stagflation. We do have it a few decades ago to repeat what the risk of that now I think is near zero rights well strong corporate earnings since clearly hyper accommodative monetary conditions that will persist, although perhaps we might see some more restrictive stances coming down the road, but you see signs pointing to decent growth moving forward. Which means we should be still buyers of stocks, especially we have a long-term plan right that won't hurt when no question about it. We need to mention the Fed they meet tomorrow Wednesday and they will probably amount and begin tapering process whereby there but whereby they are buying less paper every month and preloading the way to eventually raise a great athlete up with a lot of flies in the ointment that bother me from time to time I will see what new flies submerge next week's agendas on Monday. Crossbar Bob Dall is the chief investment officer check him out there and you can read this Dall's deliberations. Bob, thanks for being with us but like you to ride back to the phones today to Montana. Cassius, how can I help you morning, I just this little question, which is the number, credit cards and recently my oldest credit card which was 26+ years sent me a lovely note that they were canceling my credit account because I don't use it. My question is does that have a negative impact on my overall credit score. Yeah, well, just to the point here. You know it is in the fine print that there are certain conditions under which they will cancel the account because there part of the credit they have available to extend to card users is allocated to you and if you're not going use it. They'd rather use it that allocated to someone who is there hoping that they'll carry a balance and they can charge what interest and late fees and over limit fees, and all the other thing so you're not playing along nicely cast and that's why they canceled the card now does that affect you negatively not the fact that it was closed because you didn't use it. That in and of itself doesn't impact you, but you could see a decline in it would be the reason would be that it affects three of the five factors that measure your credit worthiness. Your credit utilization which is 30%, so soon as we take that off the table that brings your total credit limit down which means any balances your caring or a higher percentage of the new lower total.

The average age of the accounts is 15%. If this was one year older. Accounts that could affect you and the types of credit is 10% you don't. This is a revolving account. It's one less revolving account. If you have others probably not get to be a big deal.

The bottom line is you know I don't have a problem with you. Closing accounts or somebody closing it for you. The key is that you're demonstrating yourself to be a good credit risk by paying everything on time keeping her balance is low, certainly less than 30% of the utilization and that you have active accounts. A wide range of them demonstrating that you can manage credit wisely. If you're doing all of those things and living by biblical principles. Your to be rewarded with those higher credit score is you need, even if it's not perfect and there really is no way to attain a perfect credit score. So, bottom line, I wouldn't be terribly concerned about the fact that this account was closed because of inactivity.

Okay. All right.

God bless you.

I want to finish today in Chicago, Illinois hi autumn, how can I help you, thank you for taking my call and I am a middle-aged woman I had been working in ministry for the past 18 years in that ministry had no retirement so I have no retirement currently I'm having some health issues and I've been out of work the last five months and am waiting on a decision for disability. I sold my home to train downside. My plan was I was going to buy a condo in China paid off outright, so I wouldn't have a mortgage with the money that I made from the sale of my home, which would leave me with the bowel 20,000 that I could keep in a bank account and 25,000 that I thought I got trying put in some kind of retirement account for myself to get something started. And just work a few days a week until I find out about the decision about disability and if I don't get approved to look for full-time work again. A friend of mine suggested to me that instead of buying a condo out right that it might be better to either brand or to buy a place, but not pay it right and instead invest some of that money to try to make the money that I have from the sale of my health work for me in a better way and wondering what you would suggest yeah I mean I think I would do anything until you have resolution on what your income is going to be in make sure that everything plays out the way you're expecting, but apart from that, I kinda like the idea of you downsizing buying something smaller. Owning it freaking clear which gives you peace of mind not opening your statement every month, wondering that I be 3 1/2 or middle percent interest rate that I'm paying on my mortgage to try to make a little bit more for the future you know and then we get into a recession and its down and now you're no concerned. And you don't have peace of mind. I kinda like the idea that you would balance the budget on the condo, free and clear. Keep your expenses as low as possible and then take whatever margin you have and invested diligently by dollar cost averaging.

You understand the line amount of time and I want to talk you bit more off the air and make sure Chad thanks for your call to finalize light as a partnership between radio and moneywise media want to say thank you to my amazing team answering phones today. Hans and Gabby T Jerry was Dan Henderson producing the Rios and my researcher Jim Henry as well. Hope you come back to join us tomorrow.

I'll be here

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