Praying for Our Daily Bread

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And it's available in all 50 states and around the world. Learn more at chministries.org slash faith buy. In Matthew six, Jesus tells us how we should pray and how not to do not heap up empty phrases as the Gentiles do for they think that they will be heard for their many words.

I am Rob West. Of course, Jesus then gives us the Lord's prayer as an example of how we should bring our needs to God. But are we skimming over part of it? We'll talk about that today, and then it's onto your calls at 800-525-7000. That's 800-525-7000. This is faith and finance, biblical wisdom for your financial journey. Well, you're probably wondering what part of the Lord's prayer we might take for granted. It's where Jesus instructs his disciples, give us this day our daily bread in Matthew six. It's a very important verse, even in our land of plenty, that we should always pray earnestly. Jesus is teaching the disciples and us that God alone is our provider. It's easy to forget this truth when we have access to so much, but Jesus shows us that every provision we receive from food and water to shelter ultimately comes from God. How often do we ask God to meet our basic needs, like food, and genuinely thank him when he does?

We often assume that our efforts alone secure our provisions. This part of the Lord's prayer asks us to set aside this mindset and recognize that everything we have, including our ability to work and earn, is a gift from God. Sometimes it's only when we face scarcity, when we lack food, finances, or even peace, that we remember our dependence on God.

This dependence goes beyond our physical needs. It encompasses all the ways we long for God to meet us, whether in relationships, emotional health, or personal growth. Jesus teaches us to humbly bring all these needs to God, acknowledging that he alone can provide. In the agrarian society of Jesus' time, daily bread was often uncertain. People truly depended on God for their sustenance. Today, in a world where abundance can be taken for granted, the concept of praying for daily provision may seem outdated.

Most of us don't worry about where our next meal is coming from. In fact, we often have more than enough. But the essence of this prayer is as relevant as ever. It guards us against the pride that can come from self-sufficiency. It helps us to combat the illusion that we can provide for ourselves without him, even in a world of plenty.

In today's culture, materialism often pushes us to believe that wealth and possessions are the ultimate security. Jesus includes daily bread in the Lord's prayer to remind us of the dangers of this mindset. Instead of clinging to material goods, we're called to rely on God, recognizing that everything we have is ultimately his. This humble dependence teaches us not to trust in the abundance we see around us, but to find our security in God.

It's challenging to avoid conforming to the world's values, which often value material gain above all else. The prayer for daily bread serves as a safeguard, reminding us that our ultimate provider and sustainer is God alone. In addition to warning us about pride, Jesus reassures us that God wants to meet our needs.

Later in Matthew 6, he tells his disciples to seek first the kingdom of God and his righteousness, and all these things will be added to you. Jesus points us to the truth that our deepest need is not for bread, money, or security, it's for God himself. And when we make God our priority, he provides what we need. Prayer helps us remember our dependence on God and his promises to provide. By regularly bringing our needs to him, we affirm our trust in his faithfulness. Humbly asking for daily provision keeps us grounded and grateful, counteracting the pull of materialism. Regardless of how much or how little we possess, it's God who ultimately meets our needs and satisfies our hearts. How can we take these words to heart rather than just repeating them? Well, when we pray, give us this day our daily bread, let's approach God with genuine gratitude, let's thank him daily for his faithful provision, and remember our complete dependence on him. This line in the Lord's Prayer can transform our perspective, making us more aware of his hand in every area of our lives. As we close, consider your needs and bring them to God with humility and trust. If you're experiencing financial challenges, relational conflicts, or just seeking guidance, remember that God is your ultimate provider.

He cares for you and will meet your needs according to his perfect wisdom. All right, your calls are next. The number to call, 800-525-7000. Let me also remind you before we head to this break that faith and finance is listener supported, which just simply means we can only do this because of your generous support.

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Learn more and enroll today at chministries.org. Great to have you with us today on faith and finance. It's time to take your calls and questions today on anything financial. We'd love to hear from you. The number to call, 800-525-7000.

That's right. We've got some lines open today. We'd love to dive into your financial questions. Again, that's 800-525-7000. You can call right now. We're going to begin in Cleveland today.

Tracy, go right ahead. Hi, thanks for taking my call. I recently started a new job and I have my 401k for my previous employer. And when I called to get the check to be transferred to my new 401k, he mentioned, because I am 55 and older, I can take out money without being penalized in any way. If I wanted to, well, I mentioned it to my husband and he said, well, you know, our furnace and air conditioning has to be replaced in the spring. It's around 9,000 and we have some other repairs. So why don't you take $15,000 to use that for these repairs?

I have not done that. I'm a little nervous because I don't, I'm a little shy about taking my retirement, but I know we need those things. Is it wise to do that? Or do I just say, no, we're going to have to use our home equity line or whatever it might be? Yeah, well, certainly.

I mean, it's a great thought. I mean, it's worth considering the benefit, as you said, is this rule of 55 that basically says, if you separate from your employer for any reason, whether or not you go fully retired or get another job at 55 or older, you're able to get around that penalty that you would normally have for withdrawals from a 401k prior to age 59 and a half. So you don't have to wait to 59 and a half. You've separated from your employer, you're 55 or older, so you miss the penalty. Now what's the downside?

Well, the downside is twofold. Number one is you still add that to your taxable income, so you're going to pay taxes on it. So you'd have to set aside that portion that would be equal to your marginal tax rate of the 15,000 because you're going to have to pay that at tax time.

That's number one. Number two is that money's no longer there in the 401k or in the IRA if you roll it out to grow for the future. And so there's the opportunity costs that you're giving up of this money continuing to compound. And often, if you don't need this money right now, because your husband's continuing to work, or you're going to get another job, I mean, we're talking potentially at least a decade, maybe several decades before you'd need to start drawing this money. And that's all that tax deferred compounded growth that you would be giving up of this 15,000. So it's more than just, you know, the lost amount of growth you'd have over the next few years, it's compounded growth for a long, long time that you're giving up.

Now, what's the alternative? And that's what we always have to look at this in light of and, you know, is there an option number one, for you guys out of current cash flow, whether that's existing cushion, meaning money left over at the end of the month, or by creating that by cutting back expenses, could you fund these expenses over time, maybe you don't do them now, but you do them over the next year or two, and you try to fund them out of current cash flow, or maybe a combination of that home equity line of credit and the cash flow. I think that's at least worth considering. Yes, there's a cost to that. You know, number one, you'd have to potentially wait on some of this and you may or may not be able to do that. Number two is there's the actual interest costs until you're able to pay that line of credit back for what you pulled out. And we've just got to weigh that against the lost opportunity cost of you not having this 15,000 growing on a tax deferred basis for the next decade plus. So just given all of that, give me your thoughts.

Well, again, I was hoping you were going to sway me, but one way or the other, but I still have to pray about it. I'm just not certain that I want to take out $15,000 because I can't borrow from my retirement. I understand though, we can't take it with us and things like that and things that have been happening in our family recently. A loved one's going on to heaven and now the money is gone or they're using Medicare, Medicaid and you have to get rid of all your money assets anyways when you go into a home.

We've recently seen that. So my husband's like, well, you're going to lose it all anyways when you have to go into a home. But I'm torn. Well, you know, here's the thing. I mean, all things being equal, I would rather you not pull it out.

So let me just be really clear. But the reason I'm not saying that's absolutely the way to go is we have to compare that against the alternative. You know, if you all absolutely have to make these repairs in the next three months, then there's no time to save. And if you don't have the savings, it's all going on the line of credit. And I don't know about your ability to, you know, make those payments in a reasonable time period where you can pay it back, you know, in a relatively short period of time. And so that may then force you to look at other alternatives. And of course, the 401k is one of those and there is this benefit of no penalty. But all things being equal, either you delay those renovations and repairs, or you do a combination of that plus a smaller amount from the line of credit and you've got the cash flow, the excess in your budget to cover a, you know, a relatively short payback, let's say over three years at the most, then I'd say great, let's do that and avoid pulling from the 401k.

So my preference would be either delay and pay cash, or delay and pay part cash, part line of credit, so long as you could pay it back in three years. That would be my preference. But if neither of those work, then this perhaps could be a third option. Does that make sense?

Yes, it does. Thank you very much. You're welcome, Tracy. Thanks for your call today. We appreciate it.

To Texas. Hi, David. Go ahead, sir.

I really appreciate your show. I've had a small sum of about 70,000 invested in a CD for the last year. And we were I think we were drawn about five and a half percent interest.

Yes, sir. And my broker tells me now that since that thing's matured, that that's not a good option anymore, because the interest rates have fallen off some. But he offered a what he called a fixed annuity on a three year option at 5.4.

And I was just wondering, what was your thoughts maybe about making that decision? Yeah, well, it's certainly better than you're going to get with a three year CD. I mean, so he's right, if you try to roll that into a new three year CD, about the best you're going to find right now is maybe sitting around 4.1. So you know, for three years, if in fact, they can guarantee a north of 5%. And then I guess the question would be after three years, what does it look like for you to get it out? You know, is there any kind of surrender penalties that extend beyond that three years?

Or are you free to do what you want after the three years? You know, the challenge with annuities as they're complicated, the fine print will often, you know, limit you in terms of surrender charges, you know, so and they're expensive. But listen, at the end of the day, if he can show you where you get, you can get full access to the money without any penalties after three years, and they're going to give you a guaranteed rate, north of 5%. And that's what you're looking for, you're looking for, you know, a guaranteed return, then I certainly wouldn't discourage you from doing it. I guess the only other question would just be, if you're willing to add some level of risk, would it be better to take a longer term approach to it, through a mix of maybe a very small percentage in stocks, a much larger percentage in bonds, corporate and government, you know, where you could, you know, see a little bit better growth, but if we're talking a smaller amount of money, you know, that would be challenging to do, you'd have to use mutual funds or index funds.

So I guess at the end of the day, if the primary goal is safety, and maximized return, then I could get on board with this as long as you understand what are your options after three years in terms of getting it back, and just make sure you've read all the fine print. Does that make sense? I appreciate you. That is great news. I just needed some support, and I think that's good advice. I appreciate it, brother. Excellent.

All right, David. Lord bless you, my friend. Thanks for calling from Texas today.

We appreciate you being on the program. If you want to check out our website, do that at faithfi.com. While you're there, download the Faithfi app and set up your budget today. I think you'll be impressed.

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Soundmindinvesting.org. Great to have you with us today on Faith in Finance. Here in our final segment today, we're taking your calls and questions on anything financial. That number to call, 800-525-7000. That's 800-525-7000. I've got room for a couple of additional questions today, so give us a call right now.

Let's head to Indiana. Hi, Anne. Thanks for your call today. How can I help? Hi, I am just so grateful for you taking my call and we appreciate your program so much. Thank you. I wanted to ask you about how we can work to pay off our credit card because the balance is $15,000 usually and we run about 11% interest.

It's been that way for a long time. I have not asked for that to be reduced, but that's occurred to me lately to ask for that. The card is through a credit union and while we're trying really hard not to put expenses on that, we also have one of our daughters who is 29 and lives and works in London, England. We subsidize her a little bit with the expenses she has of living over there and she has a card or her own credit card from our account. We gave her that several years ago because of emergencies or buying plane tickets home and she's putting some expenses on that every month. If I try to pay $2,000 a month on that card or more, but the balance just goes right back up.

We are really wanting to pay it off. It's been going on like this for way more than the years that she's had her own card on it and we just are at a loss of what else to do. A couple of things going on here.

Let's start with that latter issue first. It sounds like she has a bit of a blank check. I'm not saying she's just kind of running wild, but at the same time it seems like we've moved beyond emergencies and plane tickets home. Starting with you and your husband as you think about your own finances and what you want to subsidize. I mean is she on a budget and can you all afford to continue to do this and what guardrails do you have about her spending?

Well that's a good question. Yes there are guardrails and we talk to her just about every month as a reminder. I photo her the bill so she can see all of the expenses that are on it that are hers. She knows it's supposed to be for flights home which is only once a year sometimes twice but usually once. We've approved of that.

My husband says yes you can do that for when you want to come home. She is on her own really good budget there. We do subsidize not by credit card but we do subsidize her living expenses a little bit over there because it's expensive but as far as the expenses that hit that card from her it may be an occasional Uber it may be some travel other than coming home which she is her travels she loves to travel and she does it pretty often those are all supposed to hit her and she knows that but some of them creep into ours. Well it seems to me like we need to change kind of the arrangement here. I mean I would much prefer you guys decide how much you want to subsidize and then just do an automatic transfer to her checking account every month for that amount put it into your budget plan on it count on it but not have kind of this open-ended you know whenever she decides she wants to charge something she does and mom and dad are going to come through for me because you have to almost think about it not only is it dangerous for you guys in terms of your own financial life I think it's really dangerous for her because we're not teaching her or reinforcing the right behaviors and the right disciplines around sound money management you're reinforcing this idea that she really can spend beyond her means because you know mom and dad are going to backfill anything I can't afford so I really don't have to think about well I'd really like to go on this trip next month so I'm not going to go anywhere this month because I don't have the money to do it and I'm going to save and then I'm going to you know pay for it out of cash and you know what maybe I can't even go next month maybe it's going to have to be three months from now and I need to put away you know a third a third a third each month I mean none of that's happening because it doesn't have to and that's problematic so what I would do and this is going to be a little bit of tough love and it would be challenging but I think it's in her best interest and yours for you to say hey we're going to turn off the credit card dad and I have decided we're able to give you two hundred dollars a month for the next year or the next six months and then we're going to evaluate it it's going to hit your bank account you know on the first day of every month and you know it's going to happen for 12 months but we're going to have a conversation in six months and then we're going to have a conversation in 12 and decide whether that stops at that point and you know you need to come home let me know and I'll buy your plane ticket and now all of a sudden we've turned this off and we get her into a situation where she's really budgeting then you guys build your budget you know your expenses you can live within it now all of a sudden we've stopped any charges on that card that are not budgeted items and now that two thousand dollars a month is get this balance coming down to where it's zero and then we're in a situation where the only thing hitting that card are budgeted expenses that get paid in full every month does that make sense yes it does and I'm still we are still concerned about how we can whittle the rest of that card down and well at eleven percent you're in great shape I mean most the average interest rate's 20 plus right so if you're at eleven percent I'd say leave that right where it is it probably doesn't even make sense to go into credit counseling the key is you've got to stop the bleeding and that means turning off access to the card from your daughter and only charging budgeted items so that way any new charges that hit that card are things that are in your budget the cash is there you're ready to pay it off and now if you've got a surplus of two thousand dollars a month or whatever it is well if we've turned off any additional charging that doesn't have money already allocated to it you're only seven months away from that balance being zero the problem is there's all these other charges that are creeping in some you know about some you don't and that's why you're not making any progress okay I understand those are really good thoughts and hopefully well and I think the key as you talk to your husband is because listen these are not easy conversation we love our kids we want them to have the best she's halfway across the world you know and you know we we want to be able to make sure she has what she needs and you know London's not inexpensive I mean it's an expensive place to live but I think what you have to keep reminding yourselves of is that we're not doing her any favors we're not setting her up for success in the future to be a wise steward we're actually reinforcing the wrong behaviors and that's the last thing we want to do we want to get her to a place where she can manage this money the way she needs to now and in the future and the only way to do that is to learn the hard knocks of budgeting and limited resources and saving and delayed gratification and none of that's happening under this current model does that make sense yeah okay okay good hey I really appreciate your call and I hope this was helpful to you today and if we can serve you in any other way in the future give us a call folks what a privilege it is to be able to help you and navigate your financial lives in light of biblical wisdom our goal here is to be hopeful and encouraging but always to give you wise counsel rooted in biblical truth here on faith and finance big thanks to my team today certainly couldn't do this without him Devin Patrick Pat Montague also thankful for Jim Henry and the great work he does and everybody here at FaithFi have a wonderful weekend and we'll see you on Monday bye-bye faith and finance is provided by FaithFi and listeners like you