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Help with Heating Bills

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
December 8, 2020 7:03 am

Help with Heating Bills

MoneyWise / Rob West and Steve Moore

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December 8, 2020 7:03 am

A fresh blanket of snow often evokes thoughts of a winter wonderland. But winter’s arrival isn’t so wonderful when you can’t pay your heating bills. Keeping the furnace going over the long months ahead is yet another challenge for millions affected by the pandemic. On the next MoneyWise Live, hosts Rob West and Steve Moore have some tips to assist with that.  Help with heating bills on MoneyWise Live at 4pm Eastern/3pm Central on Moody Radio.

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

Degree we often have a fanciful image of winter a fresh blanket of snow frozen windows and the crackling fire in the hearth pictures not so idyllic camping repeating bill yet another challenge for millions affected by the coronavirus pandemic over the long resident from West tips to help with that falls on anything financially, 525 7805 five 7000 times more help with bills moneywise line has indeed said the enemy were in Georgia I've got my jammies on. Today, the one with the ones with the feet and as the temperature drops, heating bills are rising accurately just encourage your listeners know jammies in the studio to the case you're wondering. But you're right so that's always true. Those bills will be even higher.

This winter with many families and individuals spending more time at home. You know, your father lost the option of turning down the thermostat when you're away from the house as they spend more time there. That's right, and thought of that right. So where do we start looking for help with their heating bills. Well, if you've lost income due to the coronavirus shutdowns. It's likely that all areas of your budget are hurting not just the utilities. So first go to moneywise in the articles section.

You'll find are made a budget it will help you prioritize your spending. With limited income now in the many budget you'll see that the third priority is utilities right after food and housing will have a link to that, by the way art show notes for today. How can you find show is RA let's drill down a bit on the utilities category which includes heating. What's the first thing to do. Yeah, the first thing not to do is run from the problem. If you can't pay your heating bill immediately call your utility provider. Let them know the situation they may be able to help you work out a plan that keeps the heat on when the pandemic first at state and local governments put restrictions on utility companies to prevent service shut offs. Now when those restrictions ended many utility companies opted to continue them voluntarily so you want to check with your provider.

I keep in mind that many people are in the same situation and utility companies are geared up to help their customers through these challenging times. Okay, so is there anything I need to do to prepare before making that call. That's a good question. Yeah, you should get organized to be prepared to tell them about your current financial situation in some detail. Give members on how your hours to been caught or your income reduced and gather documentation.

Were talking about pay stubs also have your utility bill handy as well. But once you've done all that you're ready to make the call try to do it right when the office opens in the morning little tip the line insert so busy then, and above all, be polite to answer any questions to the best of your ability and understand that the customer service rep wants to help, but there are limits to what they can do be grateful for any assistance they can provide. Okay, I've done that, then what's the next step. Well, it's something you can actually do any time, even if you're not having trouble paying your heating bill and that is, look for discounts. Sometimes your employment with a certain company or membership in various organizations make you eligible for discounts with utility companies so that's definitely something to check out any time, but also Steve many you miss municipalities have arrangements with utilities that include discounts for seniors on gas, electric and telephone bills of your in that category.

Check that out also. Yeah that's a good reminder. Okay, you find out about this why would you say check with your local municipality's website or call them to find out about possible discounts. You should go to your utility company's website to find out if they have agreements with organizations that you may belong to. And like before, have your documentation ready you may have to provide proof of residence or other identifying information. Okay, talk to your utility provider look for discounts anything else.

Yes, if all else fails, you can apply for government assistance. I know that's difficult for some people, but keep in mind that this is one reason why you pay taxes you've paid into the system and you should let probably shouldn't let pride a should say keep you from heating your home that you can contact the low income Home energy assistance program and will have a link to that as well in the show notes today that program directs you to local nonprofits and government agencies that can help with your heating bills and get utilities back on if they've been shut off. Okay that is great information struggling to pay their bills this year.

Thanks so much Robin not been struggling.

God bless you make God has blessed you this way something you help someone that's 800-525-7000 money and life run on the same track. Unfortunately, sometimes it seems like your money is heading in a different direction from your goal, and never enough three keys to financial contentment. Author Ron blue helps you to break down all your financial options to a basic floor and then shows you how to keep it all chugging along in the right direction on the same track never enough three keys to financial contentment available when you click the store for 30 years and sound mind investing has been helping Christians reach their financial goals. Step-by-step guidance for investors at every stage from those just getting started, those getting ready for retirement through scriptural principles and practical suggestions. SMI offers financial wisdom. More information short via webinar on profit and peace of mind, no matter what's happening in the market is available at sound mind probably don't often consider that your interactions with others is an invitation to adventure with God I'm true. Dick hosted Moody publishers reading for change podcast in their new book sent Heather Holloman and her husband share how you can live out your true identity being sent to share Jesus with others will learn practical strategies to engage those in your community into meaningful conversations. It can lead to gospel transformation growing intimacy with Christ and with others by reading sent now okay raisins one cracker in a single almond yet we sometimes Christians view themselves spiritually. The same 11, and taken something today and the word's subscription and application of first topic wasn't available briefly, podcast or email all How did you feel the last time you made a not so good decision as pastor Andy Stanley points out our decisions, like the steering wheel of our life and so you get decision-making right you get life right in his new book, better decisions and fewer regrets. You'll learn five critical questions to apply to every decision you make.

So you can feel confident you're getting it right. Request your copy with any gifts of money wise of $25 or more money wise. really great today.

Minimize live less times more kicking your calls except when taking your calls right. Forgot to pay the phone and this is embarrassing for a financial program but for some reason. For some reason the phones are down right now but will working on it so I don't go away and I will let you know when to get the phone again and and give that a try and disclosure. It has nothing to do with paying the bill. I can promise you that you can promise that you're ready to go out and that limb are you actually I love that. Okay, that were talking about heating your home today, which is vital. Even more important than your phone working unless you doing a calling program of class, but we had.

It was our Facebook question of the day and we've had lots of responses right you want to start with the first one here. Well, let's read the question first year we talked in the opening topic about heating your home and the real challenge that that many Americans and frankly all over the world folks are finding in the midst of this pandemic with hours being cut to perhaps being laid off depending on what sector of the economy and others.

Some of them hit harder than others, and you may find yourself in a real challenge financially and we just encourage you, God is your provider. You can be trusted. Lean into your local church but also take advantage of opportunities that are out there to cut costs and we mention are made a budget that you find in the article section of our website moneywise that could be helpful to you our new money wise app could be helpful because budgeting is going to be more important than ever. But to our Facebook question. Today we ask how have you learned to lower your heating bill and are looking to trim your budget. These ideas could be greatly read the first four and then Steve I'll ask you to take the next Lily put on an extra sweatshirt and Julie, my wife certainly subscribes to that because I like to keep the home a little colder than she does. Brenda says put plastic on the windows to reduce drafts have strips of cloth at the bottom of the doors to yeah Matt says a wood stove and I will tell you we been burning lots of fires lately here in Atlanta and that's always been fun and Laura says don't. I work hard to stay warm. She says find ways to cut the rest of the electric bill. So there is no massive increase in the winter and I think that's a great idea. Can I like it okay Katie says she also uses a woodstove. Gary says not only do I use a woodstove, but I cut my own wood and I go just the cutting of the wood will warm you up and now let's see, Emmanuelle says having an efficient furnace limit… I just my computer just as he says he doubled down on Mexican comforters which that sounds very warm.

Not sure what that is a Mexican comforter. I don't know what maybe someone will send me one for Christmas and I Mexican comforter, or I'll Google it and find out the find out what exactly that is. But hey, we appreciate that. I will always appreciate your comments on her Facebook page. Every day we post the Facebook question. You can find us. Obviously, at that moneywise. Just Google is there just find us on Facebook there all the other social media sites and that you can plug in your answers.

If you have them for us now were still waiting for the phones to correct themselves. If I'm not mistaken, so Rob, what a couple of emails I let's do it in so long. There are so many days we often don't get a chance to get to the email. So today we have a real opportunity here is the first one. It's from James, he says, is there a rule of thumb for when I should drop comp comprehensive coverage on a vehicle and go to liability coverage only. We have two cars. One has liability only because I bought it with hail damage. The other is a 13-year-old specific, with over 150,000 miles that one has comprehensive and if we canceled that it would provide needed breathing room in our budget.

Yeah, great question, James and I can certainly understand wanting to free up some expenses if possible let you know the rule of thumb, and that's all it is, but the rule of thumb for dropping collision insurance at least one of them is to drop it when a cars collision premium plus the deductible so the collision portion of the premium plus the deductible cost more than 10% of the cars value over a 12 month. Some experts also advise dropping collision when the vehicle is more than 10 years old. But if you do the math on it.

The total of the collision premium plus a deductible if over 12 months. That's 10% of the cars current value which you can look or then it may be worthwhile dropping the collision so you can recoup some of those funds. Realizing that you'd probably be hard-pressed to pay for it to and justified good advice right. Here's another it's from Mike. He says dear Rob, I've heard you reference the importance of setting a financial finish line.

Can you elaborate a bit more about what this is and how I go about it Mike, I love this question so that you know we talk about answering the question how much is enough. Or you could say as Mike did setting a financial finish line.

And here's what we mean by that. You know we have to back up and recognize that, of course, God owns it all.

Which puts us in the role of steward or manager of God's resources.

The question then is what is the appropriate use of those funds. What is the appropriate lifestyle for a Christian you know that Steve not defined in God's word. It doesn't say we should live on 68.2% of every dollar that comes in and we should note, give or save the rest. It it doesn't get that specific. We get principles, but we are left as believers as stewards to say what's appropriate how much should I be spending given what God has entrusted to me and all the needs that are around me and so forth and so that has to drive us back to our knees to say, Lord, what would you have me to do with your money.

Now here's where we get to this idea of a financial finish line or answering the question how much is enough. I think it really comes down to two key categories.

One is in the area of lifestyle, and I would say that has to do with how much income you're willing to live on and are you going to That at some point in the other.

In addition, the lifestyle or income is assets or accumulation. So, how much income am I willing to live on and how much of my willing to accumulate over time in the way of assets. Let's start with the income side or the lifestyle site. This is the idea that you would say you know what above a certain amount of income. I'm not going to continue to increase my lifestyle as my income increases, so I might start out of the starting salary. I might see some increases over time and usually your level of spending, always will. High-rises to your level of income.

But at some point the ideas that you would prayerfully say Lord over this amount, whatever that is for you and I can't tell you what that number is I'm going to My lifestyle am no longer going to increase the amount I'm spending on a monthly basis on things like houses and cars and eating out in gifts and travel and all those things. I'm done. And so therefore Lord any increases above that amount in terms of my income to give it away but back into circulations and got it in God's economy and I think we have to make the same prayerful decision on the accumulation or the net worth side as well. And that's simply to say Lord I'm going to set a goal to save X amount for retirement. Let's say and it's based on math right.

It's based on that lifestyle decision you've made. You might make that in concert with a certified kingdom advisor, but at some point you would say Lord my financial finish line is X and if were on track to achieve that and it someday if we achieve that goal, then everything else we accumulate beyond that when I get to keep working to give it all away and I think that's the opportunity we have in both of these areas, income and lifestyle and net worth and accumulation to late to say Lord at some point I'm to draw a line in the sand and I'm gonna say above this amount. Everything is going to be redirected back into your kingdom doesn't mean we don't give until we reach that, but it means we give, perhaps everything beyond that once we get those numbers to quick thoughts come to mind Rob. One is that if you do this at the age of 25.

There certainly is a distinct possibility that you might feel differently. At 75.

You might want to move that line one where the other so you be flexible there and also obviously if you married because God so often puts dissimilar people together you will make sure that you and your spouse agree on this and that may take a little bit of time a little bit of flexibility as well. A flexibility as well. But that's good for you right to limit, not that because I think that's a key point, Stephen. That idea of making that decision early is key. You know I had in my office just the other day a gentleman by the name of Alan Barnhart.

Allen is the owner of Barnhart Crane and rigging a very successful company that furnishes cranes all over the world for large projects and Alan and his wife made that decision early that they were to Their income is a multiple of the median income in their city, which was in a lot, by all standards, and they were going to Their net worth their accumulation at a very modest amount and that was before Barnhart Crane and rigging was what it is today, which is a very successful multimillion dollar company and we tell you they made that decision early and they stuck to it and as a result of that they have lived modestly and they have given to missions tens of millions of dollars. And so just because you make that decision really doesn't mean you can't live by that live simply and see what God does with the rest. Okay well stated thank you pause here. You're listening to moneywise and I think our phones might be back up so we try this 800-525-7000 805 five 7000 will check it out and again this is moneywise is Rob West. Thanks for taking your calls today also answering your nails. Please stick around. I need some help. Sometimes if you like I can't get a handle on my money. I mean where is a no go. It sounds like you need to moneywise help you plan your project and track your spending three dollars you spend every morning on coffee every morning, get access to free difficult financial advice sounds awesome. Let's do it. Okay, searching for moneywise in the abstract do you feel like your hands are tied with dad preventing you from serving God.

If you have credit card debt. Christian credit counselors can help through our debt management program we can get out of the car, get about 80% faster while doing your get info for more information on how Christian credit counselors can help visit Christian credit Christian credit or call 800-557-1985, 800-557-1985/the Lord you glide my name off the face of the realized that he was more so brother but his brother and he were in a fire when they were little boys and his brother we had only daughter that really how huge wanted to interject immediately spring 19 is been huge done done to people so Long, strong natures towards neither one of those things anymore just to make a quick word to experience the moneywise live by God's plan for your financial life is a pleasure to have been with us today were doing some emails were also taken some phone calls as the phone company allows us technical things going on today but let's let's try one Rob, West Palm Beach, Florida pastor Nelson are you with us or we doing well. What you have for us to work. Yeah, I know you getting what I wouldn't put it past him pastor just so you know I'm crazy or things I 89.3 and Boeing can down in Florida floating rate very good okay water program call you Dr. 11. People what the electric utility and water bill and also you are utility company.

We have a great call share program where when you pay your bill you donate five dollars on and is called a sinking fund. So if your water if for now will work with you if you run into some kind of problem you can't get the light on day will get you know that you can also probably give you some kind of credit that will come out of what they call share here probably been going up about it let you I love that. Let's call 211 that's available in your state and also see if perhaps if you're in a situation we have more than you need, you could contribute to a sinking fund that would be available for others in your community.

If they get behind, or have trouble paying their bills. So that's a great idea. Pastor will thank you for calling and Merry Christmas to you, sir. You had. Thank you very much.

Are you a great job. Thank you. Thanks God bless. I can't believe someone would call and make fun of my flannel which is just what you have against flannel goodness. Hey Rob, I got an email here it's it's from Karen.

She says dear Robin Steve, what's the name of the site to request credit reports from all three agencies at the same time I want to make sure everything is okay if I find a problem. How do I go about fixing or correcting that information that is incorrect.

Yes, a great question, Karen and the site that you're referring to where you can get free credit reports from all three bureaus is simply annual credit annual credit where you can request report from Experian echo Faxon Trans Union used to be that you could only get one per year per Bureau. You can now get more than that and so I would encourage you to check that out you staying on top of your credit report monitoring it, looking for inaccurate information that may indicate the company has your information wrong. Perhaps they've mixed you up with somebody else or worse than that somebody has opened an account fraudulently in your name.

One of the ways you would identify that is by checking your credit report in such a way that you would identify that say this is in mine and through the fair credit reporting act, you could challenge that information which is Karen's second question and that is if you find a problem. How do you go about correcting it you will find on that report information where you can challenge anything on it in my law that's a credit to the reporting agency will have 30 days to either prove to you with documentation that is in fact yours and correct or deleted or corrected, and they will let you know what the outcome is, and that information will be able to be right there in the report. You can do that either electronically or in writing, so be sure to get your credit report from annual credit okay and before we get our next break, Rob. I know you've been anticipating getting a chance or an opportunity to mention the new apps today. Would you like to do that now all I be happy to Steve in our new moneywise app is out and available and you can get it from wherever you get your apps that might be the Apple App Store or the Google play store. Now why would you want to download the moneywise app well. We spent eight months with a team of incredible developers building what I believe is the very best digital envelope system anywhere.

It has everything I always wanted in the digital envelope system. I couldn't find it. So we built that you can download your transactions automatically there automatically categorized you and your spouse can use the same account got it right there in the palm of your hands and there's a web app as well so go get today search for moneywise for taking your calls today 805 five 7000 have some of my suffering right now.

Christian healthcare ministries enables believers to meet their healthcare costs affordably, biblically and compassionately. It's not insurance but a voluntary cost-sharing ministry based on the biblical example of Christians sharing each other's needs and members are defined under the law for not having health Christian healthcare ministries might be your health cost solution call 800-791-6225 or visit CH investing is more than just returns.

It's an expression of who you are and what you value is the way you invest your money reflect your identity as a Christian that eventide redesign investments for performance and a better world so you can invest with the confidence to reach your financial goals while remaining true to your Christian values and commitments. We call this investing that makes the world rejoice more is invest feeling that it's time to make a change in the possibility of a position Bible Bible is looking to fill a number of radio. You'll find positions in management and clerical, national and nonskilled.

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Monthly online newsletter uplift is changed in order to bring more listener stories more program updates and more listening resources be among the first to know about radios ongoing out check out the old new free newsletter uplift subscribe right now my moody my moody radio buying a home is the largest most nerve-racking perches. Most of us ever make.

It doesn't help that you're entering a maze of unfamiliar words and confusing options that can leave you intimidated frustrated and afraid to been taken advantage of navigating the mortgage amazed by Dale Vermillion help you clear up the confusion on rack your nerves and make the best mortgage decisions possible with confidence navigating the mortgage maze available when you click the start button moneywise lot forward from drums leaking from the White House on operation at warp speed. Pres. Rob says his executive order will ensure the coronavirus vaccine is prioritized for Americans before it is sent overseas Summit featuring many officials, chief science advisor months of slowing wants to immunize the entire US population by the end of June I discovered 19 vaccine is entering the final phase of review by US government regulators on Thursday, a group of independent experts will review the FDA's findings and vote on whether to recommend use of the vaccine was productivity increased at a solid 4.6% pace in the July September quarter, slightly below the initial estimate that again throughout the day delivered another round of record highs on Wall Street that I'll gain 104 points but I stuck up 62, the S&P, I had 10.

This is SR and use saving giving getting out of debt, managing what you have. Investing what you have were here to discuss it and to help you with it number is 800-525-7000. So I think grabbing a phone issue here, Rob 800-525-7000. If you'd like to talk with Rob West today about anything financial. Let's continue on by going to a Newport Washington Carl, how can we help you well. Just wanted to heard almost. And thank you for taking my call today. Sure, yeah, look for some encouragement, go right ahead. Yeah well I can't say that I made 100% intelligent investment decision. I do have a retirement that I paid into what you and I do have a pension that my company provided for me and also we my wife and I would plead an extra hundred dollars a month mortgage at the and that we are seeing the end of that with that lesson three years to pay off the mortgage and think about seven and I just want to encourage Dr. house payment paid 25 bucks extra whatever it takes off so much interest in the diligence in investing in your future. Yes, I when when our house is paid off. I had to buy a car for my business, so that will be paid off about the same time the houses we will essentially be retirement in about time I house is paid off on eligible for Michael Social Security mouth so I may not get it. I get a triple whammy for income and really wasn't painful all those years has had a match if you got a great gift about your loss. Well, I love this Carl you've done a couple of things that you're identifying here and there may be some people listening thinking really, it's all hundred dollars a month and I could scrape together hundred dollars a month.

Not everyone can, but a lot of people can and yeah if you do when you do that systematically, over time, I mean think of the tens of thousands of dollars in interest. You saved Carl you and your wife by making this extra payment every month and cutting off seven years so you were systematic and diligent in that, but the other thing you did Carl. Here is as your home increased in value. It would've been very easy for you to go back and refinance and perhaps extend that term back out, but obviously you didn't do that or if you did refinance along the way you did and she didn't like than the term and I think those are two traps we can get into thinking well that small amount every month and I can add up to anything meaningful.

It will and well I'll just refinance and do a new 30 year mortgage. Big deal. Know it is a big hit and so you've guarded against both of those and you really reap the benefits of applying biblical principles say Carl were impressed part most part it is painless and we didn't know how much it was going to take a look mortgage. My wife found mortgage calculator online put in what we have left.

And what were paying the extra and to be done in three years.

While that is great.

Well, thank you for calling today ensuring that encouragement I'll say thank you very much Carl what was the Bible say about them moving along slowly but never losing focus is a Bible verses that addresses that steady plotting is the idea that we want to apply their Steve steady plotting. It's amazing and there's a tremendous testimony from Carl in that regard. Hey, here's her phone number again 800-525-7000 have another email Rob, this one from Karen.

Let's see know where we did, Karen. I think this is from Kim. She says I have a car loan for $13,500 at 1.9% interest for the next five years. Is it wise to take money from my savings to pay it off, then pay myself back.

What questions should I consider in making this decision.

Well it's a great question, Karen and I love the idea of you being out of debt completely, even though it might be tempting to hang on to that low low interest rate at 1.9%.

I would just simply say this the way you need to make that decision is first making sure that you don't get your emergency savings down to low. So if you're saying you've got enough in savings to pay it off. My question would be what would you have left now.

If you have a good steady income.

You don't anticipate any disruptions and I realize we never know fully, but at least nothing on the horizon. You can see, and you could hang onto at least one month worth of the expenses in that emergency fund. And you know that once you pay it off.

You can have enough margin that you could build that up in a short period of time of thinking if 6 to 9 months and you're going to be disciplined enough not to take that money and redirected into additional spending her lifestyle that I would say yeah, let's go ahead and knock that out be debt free.

And by the way, once you build the emergency fund back up keep paying yourself in the next car fund right because when this one is so beyond its useful life. I want to be able to pay cash for that next when these priority uses of money Steve, but it always comes down to do. I have some margin right after I give after I pay my taxes after I cover all my lifestyle expenses and put something away systematically for retirement. I got have margin that I then use for the priority uses the money and I would say that's first of 1500 and your emergency fund next paying off completely. Your consumer debt like credit cards and then student loans and then beyond that additional savings goals and by the way, don't forget the additional giving all the way along the line I like that. Let's see one more quick email that will take another break here hi Guy's can you briefly explain how it works. When you trade in a car that you still owe money on when you're financing another one yeah yeah this is a really good question.

Here's the thing, you know.

Two options really when you treat a car and that has a loan on it number one. Whether you have positive equity or negative equity is really the big deal if you have positive equity that is your car is worth more than the amount you owe on your loan then you're in good shape. The difference is positive equity and that difference is going to be applied to the purchase of the new car if it's negative equity, meaning your upside down.

You owe more than the car is worth.

Well then, when you trade it in you'll have to pay the difference between the loan balance in the trade-in value which you will either roll into the new loan which I don't recommend or pay out-of-pocket. Now you're going to want to come with the information that's needed the loan information.

Of course your drivers license, vehicle registration and the like. Typically, the dealer will handle the paperwork, meaning Bill transfer the title owner over they will take care of the payoff on the loan and they will take legal ownership of it. In the process.

But remember, everything is negotiable, including the trade-in value so you want to maximize that you may want to think about selling it on a private basis first and then go by that car with your cash, but great question. We appreciate you emailing it you think that we do appreciate that if you have an email you'd like to send Rob make brief likelihood read in the program and send it along. Questions at 21 or questions at moneywise.pause here for another, but don't go anywhere Belinda for heading anything your direction.

This is moneywise live, you probably have a strategy for your finance your career even your strategy for your getting to know Christian foundation and your family maximize your resources to learn how to Here's a great deal more about our money than most of us imagine Jesus is more about our use of money and possessions and about anything else, including both heaven and hell in managing God's money, author Randy Alcorn breaks it all down in a simple and easy to follow format that makes it the perfect reference tool if you're interested in gaining a solid biblical understanding of money, possessions and eternity managing God's money is available in the store moneywise This is very hard right here to help me understand God's purpose for your life to the eyes of a layman most curses revert when the laws by remote control holding to the manager that some send in some go not help words and even if it did you left on the sidelines, knowing full that you were falling short of God's plan for your life.

Having a form of godliness but denying the power thereof gets far more exciting to play in the game and sitting on the front row as a spectator losing interest that could be deadly to your faith.

It is largely were the church is to date. That's why God said in Isaiah 4310 five point here is my witness so that you might believe because they share your faith that build your own words you all the rewards for those who live for God's purpose and follow his your job is revival outside the walls moving everyone and everything will help doing that go tomorrow. remember Patrick Henry, give me liberty or give me his death bed he said this about the Bible. Here is a book worth more than all the others that it is my misfortune never found time to meet.

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Read the Bible today in the word can help sign up for this free devotional today in the word that the word not during a pandemic spiritual or midlife crisis. You may be asking what now under deck host Moody publishers reading for change podcast's new book, what now, Moody Bible Institute president Mark Jobe will help your next season. Learn how to break free of sting nation. We envision your life story.

Don't let your get your copy of what that's Moody they're listening today it's 805 five 7000 warm wherever you are going to mention that sin. But nonetheless, let's continue Belinda, thank you for calling and Belinda, you're in Romeoville Illinois at right right, how can we help you today, apparently not so about 88 and okay I want to get a little more clarity around that piece of Belinda when you think about this money. What you think.

The purpose of it is you have some thoughts on how quickly you want to access this. Whether this is money that you're willing to take some risk with meaning you want to get a better return, but you're willing to lose a little bit, but you got a longer time horizon or is it money you really want to protect meaning you're not willing to put it at risk it all and so therefore you want to be able to get to it in any time you just want to maximize the return while you're waiting give me a little bit more more money by my life by all. If I were to say I'd like for you to not touch this money for at least 7 to 10 years. Do you think that would fit with what you're thinking or you want to be able to get to it sooner than that. You okay what if that's the case then I think you can take some risk again assuming you're willing to do that and what I mean by that is we've got a couple of options of the first option is we say we want to protect the principal and so we want to keep the money. Absolutely safe and secure and we want to earn a little bit interest but we don't have the risk of losing any principal if that was the case, I wouldn't go with CDs in this low interest rate environment.

I would think beyond that, what you would want to do is just put it in a high-yield savings account earning 1/2 a percent. Now that's not a lot of money. Meaning, you know, you don't get excited around earning 1/2 a percent, but you would know that the principal is protected but the way we get a bit more return with a longer time horizon is to say, I want to invest it and the best way to do that is to put that money to work in a properly diversified stock and bond portfolio where you would say I'm to put this away to let it grow for at least 7 to 10 years. I'm not going to touch it and the reason we would have that kind of time horizon is we want to be able to weather the ups and downs of the market.

We don't know that the markets get to go straight up from here.

In fact were pretty sure it's going to ebb and flow. But here's what we do know over the last 100 or more years, the stock market has been the very best place to build wealth, but only if you're willing to be patient and you're not trying to time the market and you're not reacting emotionally. You know, if you are fully invested in the market and you don't have to be you could have a mix of stocks and bonds blitzing you were. I would want you to be able to get a statement in a particular quarter and see your account down as much as 35% and be willing at that point to say I'm not going to emotionally just pull this money out.

I'm gonna let it go and I know that this is part of the way this works but over the long haul.

If I'm patient and I don't pull my money out of the market and try to time the market I'm going to do well because this is been the very best, most consistent way to build wealth over time and if you were willing to do that and I would say you should take this money, hire an investment professional and let he or she deploy this money and in the stock market and have again a well diversified long-term investment strategy you could monitor it you'd obviously. Be very involved in determining what the investment strategy is based on your goals and objectives in this professional would choose the actual investments that make up the portfolio and if you wanted to do that.

I would encourage you to go to our website moneywise click find a CK someone there in Illinois that you can connect with and I'd interview at least two or three and then let them take over at that point, the last thing I'll say is I'd like to send you a book. It's called the soundbite investing handbook and if you hold the line. My producer will get your information. This will give you God's perspective on why we invest in a bit of the how to of what investing looks like again. It's called the sound mind investing handbook. Belinda, thank you very very much. You stand in line will get that right out to you will make for some could Christmas reading Fort Lauderdale hello Mark, how can we help you today. I got along think you producer something I've never heard you address all week good wide kingdom advice I am a pretty good position financially not rich by any means, but I don't like that I think my money all all my life and I'm debt-free, they can't and the question just to be straight to the point got. I am looking to possibly get married for the second time first marriage. Unfortunately ended in divorce and I want to be. Why because I have worked very hard after my first marriage and divorce started back over with zero money and had to pay off the mortgage again and I had to do a thing I needed to do to get debt-free. So my question is, I've seen this woman and we can get about six years now and I would like and I'll bring her but am very very afraid because I don't want to endorse and go through the ramifications of financial loss Into the first to me in the first time so advice you have for me yeah well I appreciate the way you're approaching this and I think you when were talking about this. It really comes down to motive what is your hearts desire here because we believe marriage is intended by God to be a thriving lifelong relationship between a man and a woman you know it. Going through all kinds of trials and everything that comes our way.

And when we get married we become one flesh. And what we know is that everything in the marriage relationship becomes about one which includes every facet of our lives, including the financial and when we do that, I think we have to be willing to go all in and recognize that, then under the Lord. We are joining together as one flesh including her finances. Now is there ever a legitimate motive for prenuptial agreement in a second marriage and I think given that the other blended families, and there may be businesses that have already been started and there may have been wealth that was created prior to the marriage that you know that couples agree on.

After a lot of prayer and discussion. They want to keep separate.

In terms of how it's passed down with legitimate issues of inheritance in those types of things I think that is a situation where there could be a reason for a prenuptial agreement that again is not intended to in any way come in between God's design for marriage, but it's just a legal document that represents a recognition that there were joining families together that have had a lot of history with a lot of financial situations that occurred prior to the marriage, and therefore we want to document what both husband and wife had degree have agreed to prior to the marriage but I believe that should only be done after a lot of prayer a lot of conversation. Certainly, full disclosure and I would say with the counsel of a godly estate planning attorney. It's walking alongside you in all of these discussions to really help craft that, but at the end of the day, Mark. I think it comes down to your heart motivation. Are you trying to you know keep from joining together. Truly, in the sense that God wants us to war. Is this just about a recognition that there is a complex financial situation that existed prior to the marriage and so we want to keep a part of that separate for various reasons and so I think there is some room there to honor the Lord and have a prenuptial agreement or not.

Again coming down to what was the heart motivation behind it in the first place a mark. I hope that helps you.

Thank you very much.

It's a great question and will pray that God guides both of you as you work through this together and rub.

I would imagine in situations like this may be adult children might come into that kind of a relationship and and that would be a concern that absolutely Steve and I think that's again where when were bringing families together with history and where we have a financial situation that is been there before. Perhaps we have the extreme assets are a business that was created prior to the marriage or significant dad or inheritance or trust funds for children from a previous marriage mean all of these things could warrant a prenuptial agreement, but it should never be driven by emotions like negative experiences with money or a desire for control or fear of being taken advantage of or selfishness me and that's not the reason to do it. It really is about the other things that I mention where it's appropriate. How can we shift gears here very quickly. I recently, a great friend of the ministry has come forward with a an option or not an option that's a bad word but with a presentation of wanting to help us financially with a matching gift during this month the just a few seconds left when it tells about that.

I'd love to stay were so thankful for this generous donor that is stepped up to say I believe so much in the ministry of what moneywise is doing on the radio here every day on the web of the new app that we built and all the exciting things were that are coming next year in which I can't wait to tell you about that. They want to encourage and spur on greater giving here as we close out the end of the year so they simply said every gift between now and 1231 is going to be doubled so you can Adele. Your impact when you give right now it moneywise and you click the donate button so we would just encourage you, challenge you to save moneywise is blessed you. Would you consider partnering with us will double your impact can't wait to do it moneywise click okay. Thanks so much. Moneywise I visit shift between radio and moneywise media. Thanks so much for joining us today back tomorrow same time with another edition moneywise live

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