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Student Loans vs. 401k

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
November 10, 2021 5:24 pm

Student Loans vs. 401k

MoneyWise / Rob West and Steve Moore

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November 10, 2021 5:24 pm

You finally have your budget working, you’re living below your means, and you have some extra cash to work with. So, now what? On today's MoneyWise Live, host Rob West will talk about the merits of using your extra cash to either pay down student loans or save for retirement. Then he’ll answer your calls and questions on various financial topics. 

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Rob West and Steve Moore
Rob West and Steve Moore
Rob West and Steve Moore
Rob West and Steve Moore
Rob West and Steve Moore
Rob West and Steve Moore

Budget work living below your means you have some extra cash to work with fibroblast for more than 40 million Americans with student loan is a tough question accelerate those payments or retirement savings talk about that first today then take your calls at 800-525-7000 24 700-525-7000. This is moneywise live biblical wisdom for your financial decision.

The average student loan debt continue creep up. It's now nearly $40,000. At the same time. Study after study shows that Americans are not saving nearly enough for retirement and depending too heavily on Social Security so when student loan borrowers to have extra resources they have to make a decision and both choices paying down debt faster or pouring money into their 401(k) have their advantages.

For example, your 401(k) contributions are made with pretax money is deducted from your adjusted gross income at tax time, meaning you'll pay less to Uncle Sam. That money is only taxed when you withdraw it in retirement when you'll probably be in a lower tax bracket still if you're young your first instinct might be to let the 401(k) slide for a few years, you know, just until you catch up on other things but don't wait time is critical when it comes to investing, it matters just as much as the amount of money you put into the retirement account. That's because of compound earnings. The more time you give the assets in your portfolio do more and the faster they'll grow the brokerage First Fidelity has made some estimates for how much of your income. You need to put into retirement. Depending on your age.

If you started 25, 15% of your income will probably work if you wait to age 30. They say you need to put an 18% and at 3523%, almost 1/4 of your salary. So as they say time really is money. Another 401(k) advantage. Your employer may offer matching contributions up to a certain percentage of your salary. Let's say that 6% in your earning 45,000 a year you put in 2700 a year in your employer kicks in another 2700 was the last time someone offered you. That kind of free money. So saving regularly for retirement as much as you can is something you'll never regret. And if your employer doesn't offer a 401(k) you want to open your own IRA to get many of the same advantages, but what about the other side of the argument using your extra cash to pay off your student loans faster.

Well, it has its financial advantages to obviously, the quicker you pay off that debt. The quicker you can redirect that money and other things like building up 3 to 6 months living expenses in your emergency fund saving for a house. And of course putting more money into retirement and your credit picture will improve. For example, your debt to income ratio will go down, making it easier to qualify for mortgage. Once you've saved up at least 20% for a down payment to avoid paying private mortgage insurance, plus paying off your student loans early means you'll pay a lot less interest on them. That's especially helpful if you have private loans with higher interest rates than on federal student loans. So you see both options saving for retirement and paying off student loan debt faster have their merits, so which one do you choose whether far too many variables to determine which is better from a dollars and cents perspective. But what if you didn't have to choose one or the other instead of either or you could put a percentage of your extra cash into each of them 50-50 or 6040. If you feel more strongly about one than the other. You should also know about a growing trend by employers to offer student loan repayment assistance to their workers. In fact, that should be one of your considerations if you're entering the workforce or looking to change jobs you want to ask prospective employers if the company offers that kind of help. Under current law until 2026 players can give a total of $5250 per employee per year per student loan repayment, and that money is tax-free. Now all that's great, but you know it's better than paying off student loans. Not having them in the first place, or keeping the amount as low as possible so parents over the 529 plan to save for your kids education and students puts on your Christmas and birthday money aside for college study hard. All scholarship and grant money. You can find.

That way you'll keep borrowing to a minimum and then after you graduate the decision to pay off loans or save for retirement will be your calls next. 800-525-7000 800-525-7000. This is moneywise live biblical wisdom.

Your financial decisions have you with us today, and money wise live close to our phone lines are open today will take your calls and questions just a moment. Here's the number 800-525-7000 800-525-7000. Have you visited our website recently moneywise. is your source for great biblical financial wisdom in podcast video or article form. We have incredible content providers were aggregating what I believe to be of the most prominent voices in Christian finance today all in one place.

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You'll find that when you visit our website again moneywise and by the way when you're there, consider a gift to the ministry. We rely on listener support to do our work each day. Moneywise, it's a tax-deductible gift as a 501(c)(3) organization just hit the donate button you can give quickly and easily and here at the end of the year, we would certainly appreciate your gift now more than ever again moneywise just click the donate button and thanks in advance. By this time to take your calls and questions today.

What's on your mind. We'd love to hear from you and see if we can give you some counsel from God's word help you move forward with confidence.

Here's the number 800-525-7000 were to begin today in Erie, PA hi John, how can I help Mr. I was going in regards to my current church has some reserve fund that have been being held in your savings or money market CDs and underwear accounts are going any interest at the time so the question has been proposed in or whether it would be right for the church to maybe look into other areas such as mutual funds or even real estate in order to get a better return on the bond calling for your opinion on and what your thoughts are on the current by mutual funds or even even real estate. I'm not a big fan of that approach to on for couple reasons. Number one I believe you should have reserves and I think as the leadership of the church. Both the pastor and the pastoral staff as well as the lay leadership largely a finance committee. I think you need to establish a philosophy for the reserves, how much do you want to have in place so that if there is a disruption in income some kind of decline or an unexpected need or expense that the funds would be there. I think typically I would look to the six months.

Some churches may decide they want upwards of a year I would say probably not more than a year at least from my perspective if I was on that committee because point number two is the reason those funds been given to the church is to be able to use for ministry both to support the pastoral staff and the needs of the staff, but also the building and operations of the church. And, of course, and I would say even just as important if not more important, the ministry functions of the church to reach the lost and to edify and equip the body and you know the extent to which we have access beyond what would be a prudent amount of reserves that's available I would say let's get that into ministry because that's why it was given. And that's the role of the church and so I think to both take beyond that funds that we would then put the risk of the market which I don't think is prudent for the church to be taking on risk with funds given for ministry purposes and to not deploy them and to hold them in other asset classes when they could be used for the work of the church. I just would have a challenge with that if I were sitting on that committee and so is much as I'd love for you to get a better return and I think you should be seeking out the very best high-yield savings return for business as possible. Whether that's through a savings account or certificates of deposit for your reserves. I think that makes sense and you can check locally. You could look at some of the national credit unions like evangelical Christian credit union ECC you your thriving credit union you may find some more attractive rates there, but beyond that, taking an putting it at the risk of the market. Not to mention the illiquidity that comes with that. Which means that you know if you don't have the right time horizon on it.

You may have to take a loss on it. To access the funds.

If there needed.

That combined with the fact that it's not being deployed for ministry purposes, which was the intent behind the gift in the first place you I would just stay away from that, if it were me, but give me your thoughts. I respect your opinion and it definitely would not be, you know, we would still keep an emergency lot on your lot. Emergency plan and of individual you have need of a Scripture that you would go to to kind of back that up. I mean I understand you're staying completely, but I would wondering if you had a reference in a particular book of the Bible you go to know, not necessarily because clearly seeking a return on God's money is prudent, we see that model throughout Scripture that we are to seek a return, but I think the intent of these funds in terms of how they were and why they were given clearly as we see demonstrated in the early church in acts and we would see the money being used actively to meet the needs of the people within the church.

Those that had needs and being able to share with them as well as to be able to fund the operations of the church including the staff we don't see any examples of churches taking in resources and then deploying those as investments to try to grow that it was to actively support the work of the church and so that would be what I would look to it wanted to see a biblical model for how gifts to church. In this case, the early church were given and I think you know we have to put a time horizon on this of 10 years.

If we wanted to put it in mutual funds, certainly five years or more, and that doesn't seem to match with the idea that these would be reserves and if it's not your reserves and it's really just surplus beyond what would be a prudent amount of reserves and you're willing to attach a five or 10 year time horizon to it that I would ask there a better use of that for the kingdom right now or in the near future and you should we think about deploying it now.

If it's for a very specific purpose of building campaign that's coming up in 05 years from now we want to build the cash and so you were saving for a very specific thing. That's one thing but even then I wouldn't put that at the risk of the market because donors are giving these funds for a specific purpose and they may not be available if we were to have a major decline. Let's say you're invested in mutual funds. We get into a recession, and now this portfolio is down 30%.

If I were a giver. I might be a little concerned that the gifts I were given to be put in the ministry are now no longer available because of the report. At the risk of the market and they can be used in that way. So I just think for all those reasons I think you know I would either look to deploy them right away beyond what that would be a reasonable amount for an emergency reserve and if I'm not because I'm saving for a specific purpose than I would be looking to protect that capital and make sure that it's available. So when I'm ready to deploy for ministry purposes. It's there and I don't have to wait for the market to recover.

I don't have illiquidity issues. Those types of things such as my perspective, but that would be the direction I would go so think about it pray about a talk to your leadership about it and let us know what you decide, John. We appreciate your call today. While folks we got supplies open and would love to hear from you.

Here's a number 800-525-7000. That's 800-525-7000 we can chat about savings or investing. Perhaps you want to talk about paying down debt or maybe where we started today.

What about the balance between reducing dad and saving for the long-term know when it comes to allocating God's money, it's about priority use of that money Scripture has some things to say about that.

Your start going with what to do first. Perhaps we can wait 525 is live on Rob last is biblical. Is your financial decisions. All the lines are for. We have some great questions coming up in just a moment will be in Coconut Creek, Florida will tell you little story, the Coconut Creek we get there.

But first, really, go to St. Louis, Missouri hi Gabby, I can help you and in finding out how to pack my student loan debt. Almost $100,000 have been retired right.

I'm 66 years old and I'm wondering at this point said I just continue to pay the $525.09 or if there is anything extra that I have. Should I try to get toward paying off my student loan debt earlier. Well, yeah, are you still working Gabby are you retired this point I'm retired and retired for 11 years I've been living a lie almost be tired before I went back to school OIC okay and what this is education that you received recently were these student loans older older they are practically and 11 years old I got my bachelors in my Masters and then I retired he meant.

Later it was just personal fulfillment. I see okay very good. Well, you tell me about the rest of your financial life you have any other debt to speak of, other than a mortgage. Do you have an emergency fund.

Talk to me about your income and expenses. Give me a quick overview okay so I and Mary takes care of most of our finances. So basically for me. I have just my student loan debt and I got a car payment and I okay and are you a drawing Social Security. Yes, I okay so that's your only source of income that at this point know I have my pension okay so my pension plan such that it in the market. We had the option of taking a lump-sum or taking a monthly and I could. Okay, what's the roughly the value on the little over 500,000 okay and are you much you drawing off of that each month after taxes 2600 okay you taken the little bit more than me and typically I would say let's draw 4% a year you know which would be about 20,000 on that about 1600 a month before taxes. Your ticket a bit more than that. So I suspect you're sitting this principle declined slightly although with the market doing what it's done the last couple years. Perhaps not, but I think generally speaking, you taken a little higher percentage than I'd like to see you take in terms of maintaining this for the rest of your lives in the roughly 2400 or so that you're taking a month plus Social Security. You said you basically only putting that toward the car in the student loans are you adding to your savings with the rest will know I travel a lot and so I cannot buy things for my grandchildren so I sank kinda alright, well you know I mean I think the key is not the end of the day. We want to make good decisions and part of being a wise steward is to honor our obligations. Clearly you're doing that, based on the payment schedule that was established. Is there any requirement that you pay that off any quicker know not based on the commitment that you may, I suspect, though, that you be encouraged to see it coming down slightly quicker than it has. But I realize it's a significant sum of money that you probably just accept it is going to be around for the foreseeable future. So I think I would you perhaps ask the Lord for some wisdom here on what to allocate.

I probably would put more than just the scheduled minimum payment against it and you know you have, you can determine the amount I don't think there's a an exact amount that's appropriate or not appropriate for this. The goal is ultimately to pay it back in full. It's getting a lot of money but you have the resources coming in by God's grace. He's provided for you.

You save diligently. Clearly you've applied biblical principles along the way, which is put you in this position, but ill as to whether you should accelerate that payoff.

I would probably do that. I think the question is really asking the Lord what lifestyle you called me to and with these resources you entrusted to me how should I allocate them and part of that is to enjoy it. Clearly you're doing that you're traveling and to provide for your family and your blessing your grandkids within the in your meeting your obligations but you probably have some access and I would say a portion of that should go to ill probably accelerate this debt payment, but the appropriate mix of that I think is ultimately up to you and it's a question I would be asking the Lord what would you have me to do so. Maybe take the next week and in your quiet time to say Lord, how much would you like me to allocate toward reducing this debt and see what till you come back with you. Perhaps you give us a call back if you'd like we could talk about it a bit more but I think at the end of the day. The goal should be. Let's get this paid off as soon as you can.

But in the context of the rest of your financial life in a way that makes sense based on where the Lord is leading.

So Gabby, we appreciate you checking in with us today and all the best to you in this exciting season of life appreciate your call. Folks I work ahead to another quick break here but we come back till we'll talk about a whole host of issues gyros in Coconut Creek.

She's a single parent wants to know how she should manage the limited resources, child support and alimony for expenses savings will talk to some folks who want to go about selling property others who want to invest. Perhaps your question as well get two lines (number 800-525-7000 800-525-7000.

This is money. What is your financial decision along with us today.

A lot more to come just around is live with the wisdom for your financial decisions.

Got some great questions lined up your let's go right back to the phone. Coconut Creek, Florida to hire a how are you today doing great so I grew up in Fort Lauderdale not too far from Coconut Creek, but my grandfather who was a developer real estate developer actually developed Coconut Creek and he was actually the one who named his and that interest itself know right where you're at the but it's not why you called today to talk about my family tree so I'll let you get to question how can I help parent for five years and I can't alimony and child support and guiding my job questionnaires hunting account and Michael have my mortgage for the mortgage my jackpot income, all with more child support and connect something so I about four trained income to come down to how to manage yes well we can help with that. I'm glad you called. Guess I think the key to hire a first is to develop a spending plan based on exactly what your monthly expenses are and I'll call part of them discretionary.

These are the expenses that you don't get a bill for an your so they change month to month, but you have to control them.

In fact they can tend to be the budget busters that's your food category, and things that you might be spending money when you're out by clothing, things like that for yourself for the kids. And then there's those fixed expenses like the utilities in the rent or mortgage and you know if you have a car payment to those are fixed expenses, we gotta get all those into the spending plan and figure out exactly what your monthly expenses are in the key is, this is the key to every financial success would gotta live within our means. We gotta make sure that all of that spending, including those expenses that don't come up every month you like money were putting aside for Christmas or the semiannual insurance payment or something like that that gets included in there on a monthly basis.

Ideally, where you're saving for every months when the bill comes the money's there and we need to do that in such a way where there's margin and that means there's a little bit left over so that you know you can put that toward your savings goals or other things that you would like to do in terms your priorities now. Once you've identified all of those expenses, then the key is to make sure that you know how your much is coming in, but also win this coming in so you can actually go back and assign each one of these expenses to one of your paychecks and we can actually help you do that with the moneywise app when you we're done here today you stay on the line and will get you your information and get you set up with a pro account so you can download your transactions. You can capture your spending plan and what I'm gonna want you to do is set up what I call it an envelope system which state basically just means we can do this digitally. Although you can do it physically with actual envelopes, but every budget category gets an envelope.

We put the money in it when we get a paycheck either digitally or physically, and then when we spend it becomes out of the envelope at any given time. We know how much is left.

The key is when you're on a tight budget meeting were living paycheck to paycheck. You know we want to make sure we know that the timing is going to work out so that we have a plan for when you're gonna receive each of those income sources. Your your paycheck here alimony or child support and then you're going assign specific expenses to each one of those throughout the month so that, do you have enough to go around for everything that you need and if you're living within your means meeting your total expenses are less than your income were to have some margin work and want to use that to build up what I call an emergency fund in your savings. The goal on that is gotta be at least three months worth of expenses of your spending $2500 a month would you want to get to a place where you have $7500 in savings. Now, you probably don't need more than one savings account although with online banks these days they're free so you could have more than one example might be for your tax savings you are so for instance, depending upon when the settlement occurred.

Your alimony is going to be taxable if it was finalized before January 1, 2019 will that might be a great way for you to have a separate savings account so that you can put a portion of that interview month, so when it's time to write the check for your taxes. The monies there that would be an example why you want more than one, but apart from that, I think just having one savings account is your emergency reserve to fall back on when an unexpected expense comes makes the most sense. So give me your thoughts on that note you have any follow-up questions. Okay so I think all I get like one. I would just have one emergency savings account and as long as you're comfortable doing business online. I'd open an online bank savings account so you could use Ally Bank or Marcus something like that and you'd link it to your checking account electronically so that way if you ever needed money for something unexpected you could transfer it and the money would be there within two days without any charge, but it's not your checking account were to reserve that money for the monthly expenses that come in okay okay okay to make sense. Okay good let me just tell you two things that wrap up number one is we have coaches that would love to help you.

Somebody that can walk alongside you to hire as you get all this set up that would answer your questions help you set up your spending plan, get set up on the moneywise app get all of this working properly even help you get to your savings account opened up and connected. There's no cost for that. So you just go to our website moneywise and click the community button you'll see connect with a coach and a you just fill out that information will get in touch with you and our coaches will help you. The second thing I want to do is you hold the line will get your information and I'll make sure we get you a free subscription to the moneywise app is a pro subscriber and that will allow you to download all your transactions if you want to do that and get your digital envelope system set up so you can track that every month and listen. I appreciate your call.

I know it can seem overwhelming, but were to walk with you and make sure we help you get this set up properly and listen, you keep that. I know it's not easy being a single parent. I've counseled hundreds of them.

It's hard work, but it's worth it in God or God will honor your diligence. We appreciate your call today to Minerva, Ohio.

Hope I'm saying that correctly.

Hi Neil, how can help you.

Hello, thank you for taking my call to hear me okay yes Ergo right okay I am. I turned 66 on Monday and I already informed my employer that I am going to be retiring, effective January 14. I'm a widower. My wife passed away eight years ago. I can draw my white security at age 60, which I'm going to effective Monday and I can continue to do that until I drop my head and Mike better off you lady drawing my environment and allow it build all amount at 874 draw my yeah make sense I lost you right there at the tail end well first of all, happy birthday in advance.

Neil and this is a great question to take a quick break just on the other side of it. I'm in a way and give you my thoughts and really comes down to take your wife's benefit is a survivor benefit for your own answer that just things are turning in the moneywise live biblical wisdom for your financial decisions on Rob West Coast figure calls and questions today just before the break we were talking to Neil and Minerva, Ohio nihilists has a birthday coming up next week. He's already in informed his employer that he's going to be retiring after the first of the year. He's a widower and he's looking to take his wife's survivor's benefits and let his Social Security continue to grow until perhaps, age 70, but just wanted to check in and make sure that's the wise thing to do to get the right deal correct okay yeah and I'm in favor of this. You know, you are entitled. Of course, to taking either one in terms of survivor's benefits or your own and yield the Social Security ministration will give you the higher of the two. The benefit of you waiting is that you can take hers as long as you can live on that. That's good to be enough to cover your expenses. Then it will allow you to delay yours which is gotta grow by 8% a year and ultimately when you begin taking that is then the higher amount you'll enjoy that higher payout for the rest of your life.

And so I like that strategy a lot what was there anything else you want to ask is a follow-up on that.

No that was it. I had my financial advisor and by that and then I had someone else advise me otherwise. And I was in a dilemma. All right, well, the key is your waiting until full retirement age to take this eager to maximize that survivor benefit and then now you're going to fully maximize your own benefit because you're going to get this no 8% growth walked in and when you start taking it at age 70.

You'll have that for the rest of your life. So I think this is a great strategy. The key will just be to really order your finances in such a way that you can live within your means on your new income based on that survivor's benefit and then asked the Lord what he has for you in this next season of life, and I'm sure will be exciting and we wish you all the best, and by the way, again, happy birthday to Moline, Illinois hi Vicki, how can help you Mike, I appreciate your, shall we are selling some property and going to probably have about 220 or 25,002 in vast we are in our early 70s I work part turning on my husband is retired we are self-employed, so we have about 100,000 in IRAs that were living base cancel security and when I make part-time work and were doing fine were debt-free that I'm just not sure about where to invest this money. Like maybe it should be something securing case, the market crashes or something. Yet if not can I do anything. As you know, in a CD yeah well I think it does come down to. Are you willing to assume any risk with now keep in mind when you invest in stock and bond portfolio.

There's varying degrees of risk, you will take based on the strategy the investment strategy that's deployed and that can be dialed up or down based on your age objectives and risk tolerance. But there is always a measure of risk and you need to go into it.

Understanding that, and so typically in this season of life we would look at a portfolio were maybe 70% of it would be in more stable investments like fixed income type bonds and in CDs, perhaps as a part of that. Although they're not a very attractive today and then perhaps maybe 30% of the portfolio and this could be tweaked, but this is just kind of a guideline maybe 30% is invested in high-quality stocks and that would be the growth component to the portfolio and then let's say year or two from now.

We had a speed bump up in this market has been raging since 2008 2009, and certainly and we seen a double in the last 12 months, and so your folks have been enjoying that run and I'm sure that's benefited your portfolios, but the market does work in cycles. And let's say we had a recession and the stock portion was down 30%. Well, that would only be 30% of your portfolio and you would have to go into it knowing that you're not going to sell anything you're not going to touch that, and it will recover. It always has and the more stable portion of the portfolio would provide that income. The kind of is the base and the goal would be that you'd still have access to your funds because any of those investments could be sold in any time although you'd want to take a long-term approach but even though you have access to the funds. The overall return might be instead of well today half a percent on a savings account or us in a one year CD you might be trying to get 4%, but you're not trying to get eight or 10 or 12% because there would be too much risk associated with that in this season of life. So I think it's all about. First, MI willing to take any risk and if not, then you're right your back to banking products with FDIC insurance or annuity product which is an insurance contract where you're transferring that risk to the insurance company in exchange for a guaranteed return, but you can lose some access to your capital without penalties and surrender charges, and it tends to be complicated, and you're going to give up some of the upside in exchange for that, but if you're willing to take a measure of risk, then it's a matter of finding I believe your case that professional can make those buying and selling decisions, but based on a strategy that's consistent with your goals and objectives and what you're trying to accomplish and how much risk you're willing to take in this season of life. Give me your thoughts on all that and I do have new financial advisor who is a Christian and singularly think when I do about a lot of things financially, and other so and that actually kind when he advised that since I told him I really don't think I'm in need money within the next few years he's gotten a like moderate aggressive moderate growth & moderate growth with the IRAs that I have met this new money from the land. That's what I was concerned about Nana and something need a little more secure and I think that's just the conversation you need to have because if you're really worried their concussions are worried. If you are concerned in a healthy way about your taking too much risk, then it's not about achieving the very best return. You can, because in order to do that you have to take more risk than you're comfortable with and I think what it comes down to is if you got a statement in a given quarter, three months of the year and that portfolio is down 15%. You know that the 200,000 you know all the sudden you get your statement and you know it's 170 would you be okay letting that ride and waiting for it to come back and if so, then that's a probably an appropriate level of risk if it was fully invested. You know you might open your statement and that to hundreds hundred and 40 and then all of a sudden you might get really concerned say let's get out of this. Will that be the absolute wrong thing to do and what that would tell me is that you went into it taking too much risk. So I think you need to be really clear how much downside you're willing to take. Even though you're not going to sell it your way for it to come back in, than the strategy needs to be dictated based on your comfort level with that level of risk and no more. And it's not a matter of what your advisor wants to achieve in terms of rate of return. It's how much your risk you're willing to take in exchange for a reasonable rate of return and that can be managed according to your wishes.

As long as you're really clear about what you're looking for. Okay, keep thanks a lot like you do good because I really I think you listen you very much.

You are very welcome and it sounds like you're on the right track. So I would just say stay at it and by the way, congratulations on being completely debt-free. We appreciate your call today Vicki onto Pembroke Pines, Florida not far from Coconut Creek.

Actually, Sabu, how can I help you hello my call so just a little bit Sabu some to ask you to take a step to your writer, your left. Let's see if we can find a little bit stronger cell signal will give you one more shot at a good read by an airman out yes or so I was saying that I filed bankruptcy in two of them turned and turn it over to go to my credit, concerned now I'm not the sell off my credit reports and get their but I find myself very focused on learning like this turned powers turning over each print image dollar one euro what about the tree keeping track of where your rainwater marketing being too concerned with his art on how to determine what to write out accusers well it's a great question and it's one we should be thinking about, because God doesn't want us to be fearful or concerned.

He wants us to trust him as our provider, but he's also wired us all differently, you know, some of us are more detailed and hands-on. Others are more hands-off. Some of us are more in relation to our finances. We just kind of want to know directionally where things are headed another's want to be in all the details and that's just a part of how God is wired us and that's not a bad thing. There's positives and negatives to each of those attributes that we have enough where a saver oriented.

The Pro is working to be discipline were to be future oriented. The con maybe we're going to hold money. A bit tightly and maybe will place too much faith in financial security over trusting in the Lord as our provider and for ultimately our outcome so we need to celebrate how God has wired you, but not allow it to trip it into a mentality that causes you to hold onto tightly and begin to put your faith and trust in your money and not in the Lord and I'll tell you one of the most powerful antidotes for you holding your money to tightly his generosity.

If you can open your hand enough to say Lord I want to demonstrate is an act of obedience and ultimate trust in you and not building my own mini kingdom, but investing in your kingdom.

I want to give and be connected to your activity you'll watch the grip of money. Sabu begin to release in your life. And then you'll be able to just enjoy the positive aspects that come with you being somebody's discipline, future oriented, but if you find yourself up at night worrying or concerned. I think that's a good sign that perhaps your trust is misplaced and needs to be focused on the Lord, will I will talk a bit more of your because that's, do it for us moneywise live folks. They survey along with us today was a thank you to my team.

Amy Rios Anderson. Thank you. Hans was answering her phone job and Mr. Jim Henry alongside well before seeing you tomorrow is a partnership between Moody radio moneywise

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