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Try it free for 30 days and lock in 25% off by downloading the FaithFi app or visiting faithfy.com/slash app. Corey Ten Boom once said, if you look at the world, you'll be distressed. If you look within, you'll be depressed. But if you look at Christ, you'll be at rest. I am Rob West.
When money becomes the place we look for peace, security, or identity, financial unrest is never far behind. Today, Elizabeth Brickman joins us to talk about why more money won't solve that unrest and how biblical wisdom can move us toward true peace. And then we'll take your phone calls at 800-525-7000. This is Faith in Finance, biblical wisdom for your financial journey.
Well, our guest today is my friend Elizabeth Brickman. She's a certified kingdom advisor, a longtime financial advisor, and a gifted teacher with a heart for helping people find true peace with their finances. Elizabeth, great to have you on the program. Thanks, Rob. It's great to be here.
Elizabeth, we talk a lot about peace when it comes to managing our finances. But as you well know, for many people, money feels like anything but peaceful right now.
So let's start there. Why do you think financial life feels so restless for so many?
Well, because life runs nonstop these days. Everything is 24-7 and it is very noisy out there. We have the constant financial noise of news and markets and social media, and there's steady pressure on us. And here we have a culture. That is opposite of what the Bible says.
The culture is telling us that more is better, that faster is necessary. And it tells us that comparison is unavoidable. You know, the the enemy has a mission statement, and uh he sometimes does a better job on his mission statement than we do on ours. He targets our peace, he wants to steal, kill and destroy. and what a great tool for him is fear and uncertainty to keep us anxious and make us be stuck.
and then sometimes our own hearts drift toward worry, We kind of forget who we are. We're so busy and rushed and we're tired.
So, if you're feeling this sense of unrest coming on you, I want people to know they are not alone. Almost everyone wrestles with it at some point or at some level, but there are some things we can do about it. Yeah, that's exactly right. As you were talking, you know, I mentioned Corey Ten Boom at the open, and I remembered another quote that has been attributed to her, and that is: if the devil can't make you bad, he'll make you busy. And I think that speaks a lot to what you're describing.
Now, you've not just been a casual observer of this. You, like many of us, have experienced this kind of financial unrest. Tell us about that.
Well, I think I was a born worrier. I think I came out of the womb and started worrying about what the nurses were doing around me. I thought it was my nature, you know, that there would be nothing anyone could do to change it. And even after I became a Christian many, many years ago and surrendered to the Lordship of Jesus. I still had an unholy temptation to worry.
And if I didn't overcome that, Rob, I don't believe I would have ever had a chance to overcome financial problems. And it sort of came to a head when many years ago. I accidentally fell into a crushing debt. I had talked my dear mother into loaning what was then $90,000 to a trusted friend. I used the word friend in quotes.
And to do that, my mother had to mortgage her home. She was a single mom. and this fellow absconded with all the money. And obviously, I was morally obligated to pay it back. And it was an amount equal, Rob, to $200,000 in today's dollars.
Wow.
Now, at the time, I was in a new business. not yet profitable. I was barely surviving. living week to week to buy groceries. And so I had to pay this back and find a way to survive.
And I was having to beat down financial unrest every single day. Until I could sort out the source of it. And learn to trust God with my present and potentially future circumstances. And over time, it did get easier. I made a greater commitment to the Lord that for me, worry would be a sin, that if I could trust Him with my soul, I could trust Him with money.
And then I learned the rhythms of financial rest and how to trust in Him on a practical and daily basis. And by the way, I did pay the debt in full. Wow, incredible.
Well, I'm so delighted that after this break, you're going to give us some of those practical next steps for us to tackle the financial unrest we may be feeling in our own lives. We're talking with Elizabeth Brickman today. She's got a lot more to come just around the corner. Stay with us. We'll be right back.
I was in ministry full-time and I was always looking for a way to integrate my faith with this new industry around money and finances. This is Mark. He is a Certified Kingdom Advisor. As a CKA, one of the best things I offer my clients is trust in knowing that they're working with a professional that understands their values. And I think in all of the different challenges that clients go through, if we can go back to trusting in God, then He'll make the path straight.
You can find an advisor like Mark at findaceka.com. FaithFi is grateful for support from One Ascent. One Ascent believes that your values inspire why you invest and how they can inspire how you invest. One Ascent's goal is to provide solutions designed for every need and invest in businesses that bless the people and places God has made. They want to help investors do well by doing good.
To explore a new way of investing that aligns with your values, more information is is available at oneascent.com slash faith fi. True peace begins when we stop trusting money to carry what only God can. Today we're talking about overcoming financial unrest. Joining me today, my friend Elizabeth Brickman. She's a certified kingdom advisor, a gifted teacher with a heart for helping people find true peace with their finances.
Her books, Wealth Blessed and Wealth Confident, will help you to live alongside money in a way that's godly and really help you work on securing your relationship with the Lord relationally and having a healthy relationship with money that's God-honoring. You can pick up either of those books at Amazon or wherever you buy books.
Now, Elizabeth, you've served clients for more than 25 years as a financial advisor. You've walked alongside them in their financial lives. I'm curious, what surprised you most about the sources of financial unrest?
Well, I was very surprised that financial unrest seems to affect both believers and unbelievers. I always thought once we turned to the Lord, it would automatically shut down. We have to shut it down. It also afflicts people of every financial demographic. You know, I used to think that once you have a certain amount of money or security, it would go away.
But financial unrest is not about money. It's about our mindset. And the problem here is that sometimes we feel such shame when we when we start to feel that unrest. that we're frozen into inaction. But we have to understand and be a little gentle with ourselves and realize there are a lot of downward pulls on us right now.
First of all, in the culture.
So we are in the world, but we're not of the world. We're not of the stressed out. money hungry, buying everything we can get our hands on world. And there's also the downward pull of the enemy we talked about earlier, and he attacks our peace. Why?
To freeze us from moving forward with funding God's plans. And then there's the downward pull of our own well meaning, but very human selves. And here's the problem, Rub Unrest, if we don't take it apart, it's like a big, ominous cloud of negative confusion. But once we identify and confront the thoughts that are triggering unrest, like I had to do back when I owed the equivalent of two hundred thousand dollars, Once we know our why, then we can separate spiritual fact from fiction. That's when we can really apply biblical solutions that work.
So let me share with you three common culprits. That triggers financial unrest. When we feel overwhelmed, Overlooked by God. or overextended. Let's uh dive into each of those because I think those are really important.
So we'll start with feeling overwhelmed. When someone is feeling overwhelmed, Elizabeth, financially speaking, where do they begin?
Well, scripture tells us to know the state of our flocks. And when we have that big cloud of confusion over us, it's like a toothache. You know, if you've had a toothache, it aches, it disturbs, it distracts you from doing anything else. But if you sit down and fearlessly examine the true state of your finances and all those terrible numbers, it's like pulling that tooth. It hurts a lot, but just for a moment.
And once we do that, once we know the state of our flocks. then will come relief. Then we can make a plan. And then we can ask God for his mercy and his favor so we can move forward. And the thing is, once we've done that, We're then equipped with concrete numbers instead of sort of mysterious, anxiety-ridden guesses.
It's good to know, Rob, that this is a hard thing to do, but the Lord will be with you when you do it, when you take this step. Because he is not a god of disorder, but of peace, and And once everything is laid out. We can establish rhythms and habits about how to handle money. I write a lot about routines and habits in the two books that you described because habits do the work of decision making. And then we don't have to.
It's kind of like brushing your teeth. No thought is required.
So if we're tired or discouraged or tempted, By habit, we're giving and we're saving out of every paycheck every time. And we develop a restful kind of a rhythm. that takes a lot of anxiety out. Mm. Boy, that is so well said.
I've talked to so many people, so many listeners who just got frustrated, they got overwhelmed, they just started not even opening the bills any longer. And I think you're right. Getting clarity on where you're at so that you face reality, you can make a plan, you can invite God in is so key. Let's move to the second idea that you mentioned, and that is feeling overlooked. Perhaps we feel overlooked financially by God.
Talk to us about that and how we can respond in a healthy way.
Well, it's a very sad thing to feel overlooked by God and feel spiritual discouragement, and we cannot stay in that space. And there are three principles that can help us get out of that. And the first is to know what God teaches about how to grow money. You know, there are all of these secular books out there and people all over the place trying to tell us all these techniques, but the Lord tells us. How to work and save and give.
God teaches that we are to grow money little by little.
So, all of this get rich quick stuff is not of God. He's a get-rich slow kind of God. For example, the Lord does not endorse gambling. Another principle is to know how wealth-blessed Christians really handle money, which is not like the overindulgence you see on television. They're careful.
Christians are careful. We're never allowed to be extravagant or wasteful, no matter how much we have. And we also need to understand God's timing. We can become frantic trying to accomplish too much too quickly, and then we make reckless decisions because we think we're running out of time. God is the author of time, and calendars mean nothing to him.
Sometimes also the valley of our delay Is actually a sacred space. It's a place of financial apprenticeship. to learn his ways and his will about money. I tell you, being poor for a time, can teach and prepare you how to handle godly wealth. Wow, that is so good.
I want to quickly get to the third trigger, and that is feeling overextended. Elizabeth, we've got just about forty five seconds left. What does that look like? And how do we begin to find our way out of it? if we're overextended, meaning that we are in debt.
I sympathize. I've been there. Debt is a slave master that will squeeze the joy out of life. And if that's a situation, we need a rested mindset even more so that we can keep a cool head and get on board with getting out of debt. And God promises that when we humble ourselves, He will lift us up.
and that may mean living a little more humbly for a while than you'd like. But you can do it. And imagine the exhilaration you will feel when debt-free. Oh, so good. Elizabeth, this has been so helpful and a great reminder that true peace begins when we stop asking money to carry what only God can.
Thanks for your time today. It's been a pleasure. That's Elizabeth Brickman, Certified Kingdom Advisor. And if you'd like to find a CKA like Elizabeth, go to findaceka.com. Also, again, check out her books, Wealth Blessed and Wealth Confident, wherever you buy books.
All right, your calls are next. The number 800-525-7000. That's 800-525-7000. Or if you'd prefer to email your question, send it to us at askrob at faithbuy.com. I'm Rob West and this is Faith in Finance.
sticker up. Are you a financial professional looking to grow your practice while offering advice that aligns with your Christian values? By becoming a certified kingdom advisor, you'll gain the biblical wisdom and professional credibility to serve clients who are seeking faith-based financial guidance. Each year, more than 75,000 people search for a certified kingdom advisor. Join our community and share your expertise with clients looking for someone who shares their faith and values.
Start your journey today by going to kingdomadvisors.com/slash get certified. Uh 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 the short video webinar on profit and peace of mind no matter what's happening in the market, is available at soundmindinvesting.org.
Hey, thanks for joining us today on Faith and Finance. I'm Rob West. We're taking your calls and questions today: 800-525-7000. You can call right now. Let's go to Texas.
Hi, Philip. Go ahead. Yes, sir. I've got a question for you, Rob. I had purchased a home computer from a rental own place.
And that was right before COVID got big and then work slowed down, and of course, couldn't make the payments and everything. I had boxed the computer up. I tried to take it back to them, and they said, Well, either way, it's going to count towards a repo, just keep it. And so, fast forward now, and now I'm getting a collection letter. The company has gone bankrupt.
I'm getting letters from a different company, like a collection agency, saying that they'd offer me a discounted deal as far as like, you know, to call it good. I don't have the money quite yet as far as I would like to take that offer and everything, but. I don't have the money together quite yet.
So my questions are, I mean, like if I don't pay it within the time limit that they're saying, what are the legal actions that they can take against me? Good question.
So, in terms of this discounted payoff, the settlement, if you can afford it, I would say take it. You know, essentially, that's going to resolve the debt. That's going to stop collection activity. It's going to avoid potential legal action. There are, though, a couple of important steps first.
Number one is you would want to get the agreement in writing.
So it should clearly say the amount satisfies the debt in full. You need to see that language on there. And then you want to ask how it's going to be reported. It'd be best if they would report it to the Bureau, paid in full. A second option, which is more common and it's not as good as the first, but it's what often happens: it would show that it's settled in full or, quote, settled for less than the full balance.
In terms of how that would impact your credit report, you know, the collection account is, if it's being reported to the report, it's already hurting your score.
So after the settlement, again, it would likely show settled. That's better than being unpaid, but it's not as good as paid in full. But that's okay because it's probably already hurt your credit. And the fact that you have got that balance now to zero, even though it wasn't paid in full, it was settled, that's okay. You can increase that score over time as you just become an on-time payer moving forward.
I would say the other thing that you may get caught with, just don't, I don't want it to catch you by surprise, is a 1099 C for a cancellation of debt that could be considered taxable income.
So just know that that might be coming. I mean, if you settled a $3,000 balance for $2,000 and $1,000 is forgiven, you may have an extra $1,000 that you're not counting on that could be taxable.
So, just be aware of that. First of all, does all that make sense? Yes, it does. Am I going to? I mean, is there something that they can take me to jail over or anything like that?
Or not? No, I mean, this is pretty minimal.
So, what can happen?
Well, I'm not an attorney. You'd always want to get legal advice. But, you know, number one is late fees and interest.
So, mispayments or non-payment means added fees and a growing balance. Collections means it gets to a collection agency.
So, you're going to get calls and letters. And then credit report damage. You can get sued.
So, typically, it requires a balance higher than this. But if they decided to sue, you know, then if they win, they get a judgment. And a judgment could involve a garnishment of wages. That depends on your state. They could levy bank accounts.
They could place a lien on a property. You can't be arrested for unpaid consumer debt. They have to follow the Debt Collection Practices Act. And each state has a time limit to sue for debts. But it's always better to get this cleaned up just so it's not continuing to sit there on your credit report.
And you just want to honor the debt. And if they're willing to give you a lower payoff, then that's great.
Okay, okay. Thank you, Rob. I appreciate it, sir. All right. We appreciate your call today, Philip.
If I can help further along the way, don't hesitate to reach out. Let's go to Georgia. Hi, Kathy. Go ahead. Hey, Rob, thank you for taking my call.
I am 64. We'll be 65 in November. I am a retired educator, have a great pension plan, and receive. A widow's benefit and will eventually switch over to my own Social Security, but I don't need that right now. My question really is about Medicare.
Right now at sixty four, I'm getting all the letters and all the invites to informational dinners and which are sponsored by insurance companies.
So, I'm not sure where to get the most valid information so that I can decide. A Medicare Advantage or a supplemental plan? Yeah, great question. And this is an important decision that you need to make as you get to this place.
So I think the key is you don't want to just choose the cheapest plan. You're choosing how you want to experience healthcare in retirement.
So the two main paths are: option A is Medicare Advantage, which is part C. And it's often low or even zero premiums, zero-dollar premiums, and it bundles medical and sometimes the dental and the vision and the drugs, and it uses networks like an HMO.
So it's best for lower monthly budgets if you're generally healthy and you're comfortable staying in network, you're happy with the list of doctors. Option B is, The original Medicare plus the supplement, which is often referred to as Medigap. Plus Part D, which is the prescription drug. That generally has higher monthly premiums. You have very low out-of-pocket costs when you need care, but you have freedom to choose almost any doctor.
So, who is that best for?
Well, it's best for somebody who's wanting predictability and flexibility. You are concerned about future health needs. Maybe you have more health challenges, and you're willing to pay a little bit more, and it can fit into your budget, and that's going to result in peace of mind.
So, I want you to think in terms of total costs, not just premiums. And this is where people can make some mistakes.
So, you ask, you know, what is the max out-of-pocket on a Medicare Advantage plan?
Well, that could be $5,000 to $9,000 a year. You know, if something serious happened.
So, a cheaper monthly plan could become more expensive in a poor health year. And so it really comes down to your specific situation. If you're on a fixed income with Social Security and a pension. And you know that you're about to be in that critical enrollment window. I think the key questions are: do you have ongoing health conditions or medications?
Do you want freedom to choose your own doctors and hospitals? And can you comfortably afford higher monthly premiums? And that really should be the driver ultimately of this decision. Does that make sense? It makes perfect sense.
I appreciate that.
Okay, you're welcome. Listen, I think as you go into it with that idea in mind, you know, that can help inform you. And listen, if your budget is tight, a Medicare Advantage can work well. But if you can afford it, the Medigap plus the Part D often provides more long-term security and peace of mind.
So hopefully that gives you a few things to think about, Kathy. Thanks for being on the broadcast today. Lord bless you. Hey, big thanks to my team today: Pat, Sandy, Devin, Jim, and everybody here at Faith By that makes this possible. I certainly couldn't do this without them.
Have a wonderful day. Come back and join us tomorrow. We'll see you then. Bye-bye. Faith in Finance is provided by FaithFi and listeners like you.
