This episode of the Faith and Finance podcast is brought to you in part by Buckner Shoes for Orphan Souls. Millions of children throughout the world lack one simple item that could open the door to health, education, opportunity, and Jesus. It's shoes. This September, Faith By and Buckner Shoes for Orphan Souls are partnering with you to provide hope to children in need throughout the world by providing new shoes and socks, critical care, and the love of Jesus in some of the most vulnerable places. Together, we hope to provide shoes to 1,000 children during the month of September.
Visit GiveShoestToday.org to learn how you can impact the life of a child. That's GiveShoesToday.org.
Now, on to the podcast.
Sometimes the simplest gifts can carry the deepest meaning. For one mother in Mexico, seeing her children receive new shoes brought tears of joy and gratitude to God. I am Rob West. All month long, we've been partnering with Buckner Shoes for Orphan Souls to provide new shoes for children around the world. Today, Sean Spurrier joins us to show us why a simple pair of shoes can mean far more than we might imagine.
And then it's on to your calls at 800-525-7000. This is Faith in Finance: biblical wisdom for your financial decisions.
Well, Sean Spurrier is the director of Buckner Shoes for Orphan Souls, a ministry of Buckner International that serves vulnerable children and families here in the U.S. and around the world. Through Shoes for Orphan Souls, a new pair of shoes can protect a child, remove barriers to education, and remind them they are seen and valued. This month, we're partnering with Buckner to provide shoes for 1,000 children worldwide, and you can be a part of it when you go to GiveShoestToday.org. Sean, great to have you back.
Rob, it's great to be with you today. Sean, we've talked this month about how something as simple as a new pair of shoes can make a really big difference in a child's life. For those just joining us, and maybe this is a new idea to them, remind us what that gift can mean for a vulnerable child in really a difficult part of the world. Absolutely. You know, for you and I, a pair of shoes was a choice that we made this morning, maybe a fashion choice or had something to do with what we were going to be doing today.
But for tens of millions of children around the world, a pair of shoes is a primary need for attending school. Shoes prevent injury and disease. And beyond that, having a pair of shoes can restore dignity and confidence for children who lack access to them. And they let them know that they're loved and they're cared for and not forgotten when provided for them. It's such an opportunity.
And I love that we do this in September. We did it last September. We're doing it again this September because so many of us, and this includes my household, you know, we're just automatically, well, it's back to school month. And so let's just run out and get a new pair of shoes for the kids. It's a great fresh start.
And that's just not a reality for children around the world in so many cases. And so what an opportunity, $15 at a time to put a new pair of shoes, socks, and the cost to transport them on the feet of a young child. And this can make all the difference.
Now, Sean, we often focus on what a new pair of shoes means to the child receiving them, but Bugner is also coming alongside the parents who may be struggling to provide basic necessities.
So what do you see in those moms and dads when they watch their child receive a new pair of shoes? Goodness, that's often as special as the moment the child receives the shoes. For moms and dads, even here in the United States, it is difficult sometimes to provide what we need to for our kids. We talk to moms and dads regularly who are struggling and deciding whether or not they're going to provide shoes and clothing or food for their kids. And so we have an opportunity to come alongside families and carry a practical burden for them.
And we often see just an immense amount of gratitude in the eyes of moms and dads who see that their families are being cared for and loved and that somebody's coming alongside them to help provide in that way. It's incredible. And you're plugging them into local ministries, whether it's one of your hope centers or a local church on the ground in these communities, right? Absolutely. So, our family hope centers are present to help provide resources and services, after-school programs, economic empowerment, spiritual discipleship.
But also, we are working with other ministries, organizations, and churches in these communities. And we just want to ensure that we're providing holistic care.
So, and often, shoes are the way that we get to connect families to those programs. And these children, as they receive these new shoes, they're being seen, and that's weighty, but you're also sharing the gospel, right? Absolutely. Every pair of shoes that we provide is going to have, first off, a handwritten note in it that will express the love of Christ to them. And we also get to kneel in front of them, wash their feet, mirror Christ in that way, spend time with them, and communicate it to him directly.
And so every pair of shoes is an opportunity for us to tangibly and verbally express the gospel to them and their families often. Yeah, incredible.
Well, after this break, we're going to hear from a mother named Alma, and she's going to share what it meant to see her child receive a new pair of shoes. Folks, Faith Phi and Buckner Shoes for Orphan Souls are partnering this month through the end of September to provide new shoes for 1,000 children around the world. Each pair can help protect a child's health, support access to education, restore dignity, and create opportunities for children and families to hear the hope of the gospel. Every $15 provides a new pair of shoes at GiveShoesToday.org. We'll be right back.
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Investing involves risks, including possible loss of principal. Millions of children throughout the world lack one simple item, shoes. This month, FaithPhi and Buckner Shoes for Orphaned Souls are partnering with you to provide hope to 1,000 children in need throughout the world by providing new shoes and socks, critical care, and the love of Jesus in some of the most vulnerable places. Visit GiveShoestToday.org to learn how you can impact the lives of these children. That's GiveShoesToday.org.
A pair of shoes may seem ordinary, but it can express love, dignity, and hope and remind a child and family they haven't been forgotten. And that's why all month long, our team at FaithFi has partnered with Buckner Shoes for Orphan Souls to provide a new pair of shoes and socks to 1,000 children around the world. And for these children, this means protecting their health, supporting access to education, restoring dignity, and the opportunity to share the hope of the gospel to the child and his or her family. You can be a part of it. Help us reach our goal of 1,000 shoes when you make a gift of $15 at giveeshoestetoday.org.
$15 provides shoes, socks, and transportation for those shoes for one child, $150 for 10 children. GiveShoesToday.org. We're joined today by Sean Spurrier, director of Buckner Shoes for Orphan Souls. And Sean, I I know you've talked about something before that you call the theology of the ordinary. How can a simple act like providing a pair of shoes become really a meaningful expression of our faith?
Yeah, you know, one of the things that animates my faith the most is that theology of the ordinary, that God uses ordinary people and ordinary places and ordinary means to love and serve his world. And I think when we're providing shoes, we're getting to participate in that.
Something as small as a gift of a pair of shoes does. It provides dignity, it provides the gospel to them, and it gives us the opportunity to just see so many doors opened.
So I've seen countless opportunities when providing that pair of shoes, that simple ordinary gift just opens the doors to tremendous kingdom opportunity in terms of ministry and opportunity for families and children to thrive. Yeah. Sean, before the break, you talked about seeing moms and dads watch their child receive a new pair of shoes and just how meaningful that is for you and the others that are a part of these shoe distributions. I want us to hear from one of those mothers directly. This is from one of your trips to Mexico.
This is Alma sharing what it meant to see her child receive new shoes. Take a listen. I am full of emotion. The truth is that this is something that perhaps I could not receive in my childhood, but for my children it is real. I am very grateful and I cry with joy for you and my children.
The truth is that always here in my heart is joy that through God is a blessing for you and for me. I don't know and I can't explain why. The only thing that I can do is to thank God for you and see that joy for my children because I say I didn't have maybe that, but they do, and I thank God. Thank you very much. Sean, when you hear Alma say that, what stands out to you?
Rob, I can remember asking her the question and the tears welling up in her eyes when we just asked: you know, what was it like when you saw your children receive shears? Yeah. As parents, we want to see our kids experience things that are better than what we've gotten to. We want them to have a better life. And Alma obviously didn't have access to the same things that her children are now getting access to, even as small as the gift of pair of shoes.
And so it really just kind of pulls you back. It reminds me of why we're doing what we're doing. And it shows me that this is a very tangible ministry that we're participating in. Yeah. Uh there's something especially moving about hearing Alma say she never had something like that growing up, but now her children do.
Sean, do you often meet parents who simply want a different experience or a better future for their children maybe than the one they had? I think that's probably the case for every parent that brings their child to a shoe distribution. They're coming in to receive something that their children need desperately to achieve education and health. And they're coming from communities where often that hasn't been readily accessible. And so, absolutely.
And that's one of the things that Buckner wants to provide beyond the shoes is a longer-term ministry that's going to help vulnerable children and families achieve sustainability and an experience that maybe those parents didn't have when they were growing up. I know you shared a little bit about this, but this relational approach is so important, Sean. Describe just what that includes.
Well, again, every pair of shoes kind of opens the door to relationship if we're not already in relationship with these families. And so when you open doors to education, your children are going to be operating in an environment where relationship is rich and they're growing there. But we're opening the door to ministries where they're going to have family coaches and community members and friends who are coming alongside them to help them achieve sustainability and their God-given potential. And we're plugging them into local churches that we work alongside and other ministries. And so.
This work is truly relational. This is not just dropping a pair of shoes off and leaving. This is really oftentimes the beginning of a relationship or continuing or furthering a relationship. And again, it's one that really ties to some strong overall ministry opportunity. Our goal is one thousand shoes.
Every fifteen dollars given will help us move toward that goal. And Lord willing, pass it. GiveShoest Today. org is the place to go. Sean, as we enter the final week of our September campaign, what is someone really becoming part of when they choose to give through Buckner's work?
Shoes are they're an opportunity for kind of a one-to-one direct impact.
So every pair of shoes represents the life of a child. We don't always know what story that pair of shoes is going to enter, but you're entering a thousand stories if we collect a thousand pairs of shoes here, if we provide a thousand pairs of shoes. We're providing access to health for a thousand children, access to education, lowering barriers to education that's vital to their rising above poverty for a thousand children, and having an opportunity to communicate the gospel in a very tangible way to a thousand children.
So, every pair is an opportunity, and every pair represents the life of a child who's going to be impacted. And beyond that, their families will be impacted. And we've seen entire communities impacted. And so it's simple, but the impact can really be profound. Yeah, there's no doubt about it.
And folks entering those stories also means greater protection for their health, greater access to education. Not only that, but dignity, confidence, encouragement, and the sharing of the love of Christ. And that is paramount. Sean, we have just a week left in this campaign. What would you say to someone who may be wondering whether a gift of just $15 can really make a meaningful difference in a child's life?
It absolutely can. You go every $15 actually provides a pair of shoes, socks, and it gets the shoes to the ministry program that is going to serve them.
So it gets that pair of shoes to that child. $150 will provide that for 10 children. These small gifts can become really powerful when people participate together. And again, we truly believe that God uses this very practical gift to do some really extraordinary things in the lives of children.
So, we need our friends to come alongside us to help us further this work. We would encourage you to really consider that. Excellent.
Well, a pair of shoes may seem ordinary, but it can become an expression of love and dignity and hope, and a reminder to a child and family that they've not been forgotten. And that's what it's all about here. Sean, we're so thankful for you and your team at Buckner Shoes for Orphaned Souls. Thanks for helping us see the children and families beyond every pair. Likewise, Rob, we're so thankful for you and the Faith5 family.
Thanks for having us on. Absolutely. That's Sean Spurrier, director of Buckner Shoes for Orphaned Souls. All right, there's still time to join us as we work toward providing new shoes for 1,000 children around the world. A gift of $15 provides shoes for one child, 150 shoes for 10.
To be a part of this effort, go right now to GiveShoesToday.org. That's give shoes to day.org.
Well, folks, still a lot more to come.
So be sure to get your calls in. Lines are filling up, but we've got room for you. The number 800-525-7000. We'll take a quick break and then be back with much more just around the corner. Again, that number 800-525-7000.
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We've got room for you. If you have a financial question, call right now, 800-525-7000. That's 800-525-7000. Let's begin today in Texas. Gary, how can I help you?
Yes, I heard you talking to somebody And I didn't catch everything that y'all were talking about. But anyways, I was wanting to know about a reverse mortgage. Mm. And the fact that I bought the house in October of last year. And I figured out real quick how much money is going into interest and how much the principal.
So I just want to know if it's worth two hundred thousand. And I borrowed $150,000, which turned into $167,000 after the closing cost, and how much I would need to save. I mean, to get that down to. Get a uh a reverse mortgage. Yeah.
Sure.
Well, that's a great question, Gary, and I appreciate you asking. What is your age, if you don't mind me asking? Sixty-two.
Okay, great. Yeah, so you are of age in that you have to be at least 62 for a home equity conversion mortgage, the official name of a reverse mortgage, the only kind I would look at. There are other varieties, but this is the one where the FHA is guaranteeing it.
So it's a non-recourse loan, meaning despite what your home value does, you would never or your estate would never owe more than the home is worth. And of course, you know, any equity that remains based on what you borrow and the interest and fees accruing to it would be for you to either take when you sell it, once the reverse mortgage is paid off, just like a forward mortgage, or at your passing, be available for your estate.
So you still retain ownership of the home. You can live in it as long as you want. It's just when you move out or pass away, it's sold, the mortgage is paid off, and then whatever remains is available. The key here would be you'd have to have at least 50% equity generated. As a starting point.
And so that would mean your mortgage balance would need to be down, if the home appraised at 200,000, down at 100,000 in order for you to be able to consider this, possibly 60% equity, 120, but in most cases, 50%, so 100,000.
So it sounds like you are a bit away from that in the sense that you would need to bring down that mortgage to that 100 to 120,000. And then at that point, you could refinance the mortgage with reverse, which would mean that that payment would become optional.
So you would need to wait that out. I will say to your point about the amount of interest going or the amount of the payment going to interest, an amortized mortgage, which is what you have, is designed so that your monthly payment stays the same over the life of the loan. But in the early years, because your loan balance is at its highest, most of each payment goes toward interest. And then, as you gradually pay down the principal, the interest portion gets smaller and more of each payment goes toward reducing the loan balance. That's just the way an amortized mortgage works, which is why you need to be careful.
You know, a lot of people, when rates come down, will refinance, which can be great. But if you're five years into a mortgage and now, you know, you're just getting to the point where you've got, you know, a bit more going to principal and then you start over in a new 30-year, you know, you're resetting back to where the vast majority is going to interest.
So you just need to be careful with that because that's the way an amortized mortgage works. But at the end of the day, your target needs to be that 50% before this is a viable option for you. Gary, I hope that helps. Thanks for your call. Let's go to Ohio.
Hi, Samantha. Go ahead. Hi, I'm a single mom of three children and I have limited income but I was wondering how I could get my credit score up. Yeah. You know, Samantha, being a single parent is challenging, and I get that.
I've counseled with hundreds of single moms and dads, and I know how difficult that can be. And so, I think the key is with regard to a credit score, you know, ultimately what it comes down to is the very best thing you can do, and I know this is going to sound obvious, but I think it just goes without saying, is paying your bills on time.
So, to the extent you can be an on-time payer every month, that is by far the most important because payment history accounts for the largest percentage of your score, 35%.
So, always make at least the minimum payments on any loans that you have. Second, and this is easier said than done, I get that, but just over time, try to reduce any credit card balances. And if you're carrying credit card debt beyond what you're paying off every month, you may want to check with our friends at ChristianCreditCounselors.org to try to get the interest rates down, to get them paid off sooner. Because the credit utilization ratio, fancy term, for basically just how much of your available credit you're using, that's what that means, that makes up 30% of your score. And you'd really want to keep those balances under 30% of the available limit.
So getting it down below 30% is really going to impact your score positively. I would say avoid closing older accounts.
So try to keep those older accounts in place because that shows a good long credit history and that boosts your score. Limit new credit applications.
So new credit inquiries, which constitute what's called a hard inquiry, where you've asked a lender to evaluate your credit for the purpose of extending you a loan, that accounts for 10% of your score. And then finally, and this was a little more challenging to do, and I certainly wouldn't want you to take on a loan and pay interest just for this purpose, but I'll mention it just so you know that it's a factor. That final factor is your credit mix. And so, your credit scoring algorithm wants to see that you have a variety of credit types.
So, credit cards would be one type, installment loans, like a car loan, would be another type. A mortgage would be a third type. Having a nice credit mix positively impacts your score. But again, not worth taking on debt and paying interest just to boost your credit score. I just want you to know that's a factor.
So, I think those are the primary ones. Maybe one additional kind of bonus tip is make sure you're pulling your credit report at least three times a year at annualcreditreport.com. And the reason is you're going to want to look for inaccuracies or fraudulent activity from accounts that are not yours and dispute those to get those off if they're there, because those would obviously be pulling your score down. But is that helpful to you, Samantha? Yeah, what was the name of that place you mentioned that could help me with my debts?
Credit card, sure. Yeah, it's ChristianCreditCounselors.org. They've worked with literally thousands of our listeners, Samantha, over the years. They're wonderful, godly folks that just want to help God's people get out of debt. And what will happen is if you have credit card debt, they're going to get that into a credit counseling program, which just basically means you're going to get those interest rates reduced because every creditor has a credit counseling rate predetermined.
So if you slide into a credit counseling program through Christian Credit Counselors, all of a sudden that interest rate is dropped. And now that one level monthly payment that you pay through them, a lot more is going to principal.
So you can get it paid off 80% faster. Hey, listen, you hang in there. Great to hear from you today. And if we can serve you in any other way in the future, don't hesitate to call. A big thanks to my team today.
Devin, Sandy, Taylor, couldn't do it without them. We'll see you next time. Bye-bye. Faith in Finance is provided by FaithFi and listeners like you.
