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God Disciplines with Money

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
June 10, 2021 8:03 am

God Disciplines with Money

MoneyWise / Rob West and Steve Moore

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June 10, 2021 8:03 am

We’re always more than ready to accept God’s blessing in our lives, but shouldn’t we be just as willing to accept His discipline when we need it? On the next MoneyWise Live, host Rob West will talk about how the Lord corrects us when we use money unwisely. Then he’ll answer your financial questions from a biblical perspective. That’s on the next MoneyWise Live, where biblical wisdom meets today’s finances, weekdays at 4pm Eastern/3pm Central on Moody Radio. 

Rob West and Steve Moore
Our Daily Bread Ministries
Various Hosts
Rob West and Steve Moore
Rob West and Steve Moore
Our Daily Bread Ministries
Various Hosts
Rob West and Steve Moore

If you're like me watching little kids doing Easter egg hunt is a pretty beautiful thing, but I always feel bad for the littlest of the pack. It always seem so traumatizing to see that little one run for an egg. She has her eye on only to have a bigger K sweep in and steal it at the last second Heights, Doug Hastings, with Moody radio and unfortunately the same kind of situation has become a traumatizing reality for families all across the country.

Families are out searching and finding their dream home only to have it pulled away by another hunter at the last second, which is why I'd really like you to meet my friends at United faith mortgage. Unfortunately, this faith focused mortgage team can't scare off the other hunters but they can very quickly get you preapproved and make it look as good as possible to sellers.

They specifically made a commitment to this podcast in our listeners to do all they can to help you. You can find the entire United faith mortgage story of especially reading how their direct lender advantage can often save your family monthly and lifelong United faith is a DBA of United mortgage Corp. 25 Millville Park Rd., Millville, NY license mortgage banker for licensing information, go to an MLS consumer corporate MLS number 1330. Equal housing lender not licensed in Alaska, Hawaii, Georgia, Massachusetts, North Dakota, South Dakota and Utah and is 1211 tells us for the moment, all discipline seems painful rather than pleasant. Later, it yields the peaceful fruit of righteousness to those who have been trained by Rob West, where more than ready to accept God's blessing, but we should also be willing to accept discipline when we need to talk about that and how the Lord corrects us when we use money unwisely, then it's on to your calls at 800-525-7000. That's 800-525-7000.

This is moneywise. Why do we often talk about how following God's agile principles make sense. He owns it all anyway and when we follow his instructions on how to manage his resources. We usually prosper but what we probably don't mention enough, though, is that God also has ways of correcting us when we go astray. Now we should point out that God's blessings and his corrections are always financial that we should recognize that the principles taught in Scripture apply to many aspects of life, but that certainly includes how we handle money so let's look at some verses where God blesses and also withholds his blessing, which is another way to say corrects depending on how his people obey his commands at Deuteronomy 28 is a great example of where God clearly lays out his intended blessing for obedience. But he follows up with curses for disobedience. These were for the nation of Israel, but the principle still apply to us in verse one reads if you fully obey the Lord your God and carefully follow all his commands. I give you today, the Lord your God will set you high above all the nations on earth. All these blessings will come on you and accompany you if you obey the Lord your God. Those blessings include having children and abundant crops and livestock everything the Israelites could expect if they were obedient, but in verse five we see the consequences for disobedience. You will be cursed in the city, and cursed in the country. Your basket and your kneading trough will be cursed. The fruit of your womb will be cursed and the crops of your land and the cabs of your herds and the lambs of your flocks. Strong enough and we see a similar if then statement to Eli in first Samuel to verse 30 of those who honor me, I will honor, but those who despise me will be disdained now, does that mean that God will curse us and our families for generations. If we fail to balance her checkbooks or we make a late payment know that, but we should look at some of the practical ways we are corrected when we mismanage money if you fail to live within your means or fail to plan for spending, giving and saving for the future. Unpleasant things are bound to happen. You'll run up debt, you won't have enough to pay your bills or you won't have enough income when you can no longer work and if you continue living beyond your means, you'll eventually get to the point where you can't even make the minimum payments on your credit cards. Creditors will start calling your stress level will go up. God doesn't have to curse you for those things to happen there.

Just the natural consequences of not following his financial principles, but there's a spiritual component to this as well. God absolutely will use the pressure and the stress in your life to bring you to repentance, to make you realize you have to change your ways and when you do, he will bless you. So what can we learn from all of this verse that unlike the clear warnings we see in Deuteronomy 28 and for Samuel to we want always know what God's blessings or corrections will look like your outcome will ultimately be good when you follow God's path, then not so good when you wander off of it as second the reason were to follow God's principles is not because it's a formula for financial success following them usually put you in a position for financial success, but that's not the goal, and it's not guaranteed to happen that way. The goal is to be obedient, which makes us more like Christ and enhances our intimacy with him.

That's what were ultimately pursuing with our finances, and with our lives.

First Peter two tells us, for to this you have been called, because Christ also suffered for you, leaving you an example so that you might follow in his steps. So we hope you found this helpful and an encouragement to you if you need to get back on track with your finances, you know, I've been doing this for a long long time and one of the things that I realized very early on is that your financial journey is one of the key ways that God shapes your spirit children if something is going to compete for your heart thrown God from first position in your life it's most often going to be money in the things that money can buy.

Guard yourself against Pearson King being generous that'll break the grip of money over your life are your calls next.


This is moneywise live biblical wisdom meets today's financial decision. Things were joining us today on moneywise live on Rob West delighted to have you along with us today. Phone lines are open to take your calls and questions on anything financial, here's the number 800-525-7000. We got a number of lines open again 800-525-7000. Whatever's on your mind today will apply biblical principles to your financial decisions today be at saving or investing, perhaps wondering about that pesky credit score or some other aspect of your financial life we'd love to assist you with that and see if we can add to give you a next step to move forward again. 800-525-7000 before we dive into some calls today. Let's take an email you can send these that's questions and will answer as many of them as we can on the air and would love to have you sent one long today's question comes from Dylan and Christie in Cleveland Ohio that's Dylan and Christie in Cleveland and Dylan and Christie are asking should I refinance my house that's requesting a lot of folks are thinking about that this is been going on now for a year or more as we been in a position where interest rates have been at historic lows that they've ticked up as of late there off the bottom but still a great opportunity to look at the possibility of refinancing out what is that look like about it basically means that you need to have a couple of things in place before you move forward number one you want to make sure that you are staying. This home for at least five years or more.

I'd say 5 to 7 years. Secondly, you want to save at least a point to a point in the quarter on the interest rate, so an interest rate reduction is a part of this I would want to make sure that you're not spending much more than 2% of the mortgage value on their cost of the refinance. The expenses associated with refinancing that property and lastly I want to be sure that your at it that a minimum, matching the remaining term with this mortgage.

If not, reducing the term, but of course make sure that it fits into their into your budget and interest rate reduction should help with that, but it still may push it up to high and put you in a position where you can no longer afford it.

If all of those things. Check out that I would say absolutely I consider a refund. Now don't just automatically go to your current lender and assume that's going to be the best offer I would shop it around. Keep in mind this is the largest transaction that most of us will ever have.

And it's worth getting a few bids for I'd say at least three so if you want to start with your current lender or bank great. You do that, but then I would get a couple of online banks or lenders in the mix, because often they will have the very best rates and fees. So where to do that. I go to bank bank and a look for who has the best loan programs with the best terms and rates for the loan you're looking for and then perhaps entertain maybe two of those. I hope that helps.

Dylan and Christie.

We appreciate you listening to moneywise live.

Thank you for sending your question again. The email address if you'd like to send yours is alright so we can head to the phone seer still have a few lines open 800-525-7000. Whatever's on your mind today were here to stay in Cleveland Ohio which is where our email came from, and a welcome Yolanda to the broadcast tighter. Thank you for taking the call you very welcome. How can I assist you today calling for friend. He wanted here and looking to open up 401(k) help her in retirement wanted to LinkedIn that not being all and not didn't have any dependents so much with should she loved to Laura boy yeah that's a great question. You know it's never too late to begin saving for retirement, especially if you're trying to play a bit of catch-up. The first question is, how is the rest of her financial life is she living on a spending plan. Does she have some margin such that she could do salary deferral or make some contributions to an IRA know after she's paid and would that fit into the budget.

Secondly, does she have an emergency fund in place and is all consumer debt paid. If so, it would be a great time to begin looking at sucking some money away for retirement. Do you happen to know Yolanda about those first items I mentioned, so she doesn't have all margin that she's ready to put away. I credit card debt okay yeah I would encourage you to encourage her to tackle that first perhaps go back to the budget. If you need the help of one of our or she does. One of our moneywise coaches they be delighted to come alongside her at no cost just to help her develop that spending plan. Make sure she's looked in every line item to see where she can trim because increasing that margin is gonna be critical to paying off those credit cards, making sure that she doesn't have to go back to them by spending beyond her means and the emergency fund is really key there to break that cycle of using those credit cards 3 to 6 months worth of expenses. The other thing is the reason I would prioritize Yolanda for her credit cards over the retirement plan is you nope. Let's say it's an average of 14% interest on the credit cards could be quite a bit more than that.

There's nowhere you're going to get a 14% guaranteed return anywhere. So there's a real benefit to getting those paid off, but then once that's done, the next step is to say, okay, where is the best place to put my retirement dollars. Do you know if she has a company-sponsored plan available at work that's about to happen. So yes you will have that okay great. That would be the place that I would start to through salary deferral so she would tell them how much she wants to go into that account right out of her paycheck. She'd never see it and that gets invested on a pretax basis. Hopefully there's some matching either right away or over a period of time that she could take advantage of and the key will be to try to figure out how long she plans to work and what is her savings goal which will give her an idea of how much she needs to be putting away every month.

Now she may not have the ability to fully fund what she wants just given you how close she is to that season of life. But at least she'll know, what the target is, and she can try to do her best at that in terms of how to invest that money, you know I'm thinking that she's probably gonna want to have maybe 50-50 in terms of stocks to bonds, perhaps 6040. Keep in mind, even if she's five years from retirement. The idea is that once she reaches retirement if the Lord Terry's and she's in good health. She's going to need this money the last several decades. So you know that's why we you would take, perhaps even just a bit more risk than you would typically think of, even as you're approaching retirement, especially if she's trying to catch up. And if she's got other sources to live on early in her retirement, perhaps, lets this grow a little bit longer inside that company-sponsored plan are to be a number of investment options to options to choose from, and she doesn't have any idea which to pick. You could direct you to a certified kingdom advisor there in Cleveland.

Just go to our website moneywise and click find CK I hope that helps. We appreciate your call today. May the Lord bless you and that should be enough for being such a great friend writes one more before we take our first break today, let's head to Tampa Florida.

Paula is calling next before we the welcome poem you say we do have some lines open. Here's the number 800-525-7000. Paul, how can I assist you.

I sure can all that yes yeah it's a great question. Basically, that's just the type of account that provide a way for assets to be transferred to a named beneficiary after you pass pass away without going through probate so that POD or what's called TOD. POD is payable on death TOD transfer on death same thing basically bypasses the probate and that can be set up at most financial institutions for checking and savings accounts as well as CDs even money markets and savings bonds that are generally accepted under state law, so it say it basically a wealth transfer and estate planning tool that just allows the particular assets that are titled with those types of accounts to pass outside of probate. Does that make sense compared no other than you know. Keep in mind you'd update your will periodically as your life circumstances and situations change, I'd say you know whenever there's a major change or you know if you've gone over a number of years you know kids are getting older you move to a different statement all of those would necessitate an updating of the will.

You just can't forget to update the PO T because that's gonna happen separately not to necessarily according to the will. So it's just one more thing to stay on top of. If you want those beneficiaries to change over time, but apart from that there really should the average person who has just a typical size. We appreciate your prompt taking more of your calls and questions of moneywise live just around the corner. Here's the number 800-525-7000 805 five 7000 back to moneywise live. So what have you along with us today. Phone lines open for your calls and questions were applying God's wisdom to your financial decisions.

Here's number 800-525-7000 800 525 7000 each day out one of the resources we producer at moneywise media is called the moneywise minute.

That's right, the moneywise minute 60 seconds of biblical truth related to an issue that you're going to encounter on a daily basis. It errors here on Moody radio and other parts around the country. You can listen to a daily in the moneywise app and so if you haven't downloaded the moneywise app right there on the homepage every day alongside your spending plan in our community and are discovered to have with all the great content on biblical finance is the daily episode of the moneywise minute you can download it in your app store to search for moneywise biblical finance today in the moneywise minute we tackle a great topic called rise again looking at the words of the King Solomon and why bad things happen to good people, so to speak in terms of how we deal with that from a financial standpoint, how do we process that went difficult things are happening financially and yet we're striving to be found faithful in managing God's resources how we approach that well. God knows our needs. He promises to meet all of them. So how do we reconcile that well we tackle that in today's moneywise minute so we'd love for you to download the app in the listen to the moneywise minute each day. Hopefully will be a source of encouragement to you right back to the phones, Wesley Chapel, Florida Elizabeth, thank you for calling. How can help you hire your own moneywise live grid.

I am calling. I currently meet my home at night and I'm planning my home cash out and patient of acquiring and home, so I'm taking 50,000 out of the current equity and to get another investment property and I do have a comment in line to rent the next property.

Do you think it's a good investment.

To do this if that person is in line to do the same kind of business that I'd like to do you think that's a good investment. So just make sure I understand the last part so you have a rental property. Now that's currently rather than bringing in some cash flow for you. Is that right now I own a home that has equity in the class right now.

Okay, so this really your first investment round out my my first home. He has quiet client and equity as though I need financing. Applicant the closing cost. I've been to be somewhere around $5500 and I want to purchase another home nearby to run a little tiny business out of it and think you had him hoping that it'll be an excuse property there will be dual valid for both event, though, when I can vent to somebody but there also in the same kind of dog related industry see okay so you're planning to rent it to somebody that's already lined up in there to use it as a business property and actually bring my dogs or something you have like a little a little daycare dog and she felt great in that type of thing, but it not anticipating making a lot of money that ultimately selling in some way online 50 think that that's a good investment. Yeah the only challenge I'm hearing in this Elizabeth let me back up. I like real estate. In terms of the asset class of real estate as an investment opportunity. I think it's a great way to diversify, assuming you've got the right pieces in place you're giving at the level you'd like you living within your means on your budget you have margin every month paid off consumer debt.

No credit cards. Hopefully cars are paid off. Things like that and then your you're saving for the long term, as the come to your base of that in the stock and bond market but then you know if you have the ability to go beyond that in the real estate. I like that a lot. Now you're adding a couple dynamics here.

The perhaps raise the risk level a bit that I just want to call out the first would be that it sounds like you don't have any of that down payment to go in in savings that you're taking all of it out of the equity of your home.

I don't love that I'd I'd rather your home stay your primary residence and you eventually pay that off as opposed to taking out money from your home where you live. Start a business. Second, you're adding to the complexity and the mixed-use piece of it because she's starting a new business that may or may not work out most of the time new businesses. Small businesses don't, then I think the third pieces were just in a really high real estate market right now, you're going to pay top dollar for this property, which means a bigger mortgage which means more rent is necessary to make a cash flow positive.

So I put all of that into the hopper as you please pray through it and those are enough for warning signs and will be right back. Stay with us. Thanks for joining us at moneywise live today taking your calls and questions 800-525-7000 805 two 5000 back to the phones to Indiana.

Debbie I thank you for your patient talking is eligible for both.

I would I'm planning on retiring shortly before I reach 60. I wait until I reach 62nd do I get all percent increase in my care. That's a good question. It would be for every year you wait beyond full retirement age so waiting a partial year would not help you there. You need to wait a full year beyond your retirement age and for every year you weave beyond that, you're gonna realize that 8% increase. So it sounds like if that's something that's gonna make a meaningful difference for you and you have the ability Debbie to cover your lifestyle and expenses, apart from collecting Social Security for those for it for that first year I would wait.

I think that's a great idea and then you get that larger check for the rest of your life. But if that's something you're depending on to build a make your your retirement budget work, so to speak. Then it sounds like you need to go ahead and start collecting it even though it's a bit early and you would forgo that 8%, so that's a great question. All the best to you on this exciting season of life coming up. As you asked the Lord to what your next assignment is and will be praying that he gives you some real guidance there and thanks for your call today.

Another Debbie calling this one from the Spokane Washington Debbie how can I help you I calling regarding helping my mom with estate planning, and I remember you speaking will kill within the next couple years.

There might be a change to the tax lots regarding additional capital gain and that sometimes her getting things prior to her Would be beneficial in my remembering that right well. The others obviously we don't know what's coming from a legislative standpoint. Currently, Debbie, the federal estate tax only kicks in. Of an estate is valued more than $11.7 million and the state of Washington doesn't have an estate tax.

So go there if your mother has stocks that would be passed on, there wouldn't be capital gains until they're sold and the basis would be set at the value of the stock when it's inherited, but again the estate wouldn't pay any tax. Could any of this change. Sure, it absolutely could as a part of the is American families plan.

Pres. Biden is proposing to merely double the top tax rate on capital gains and eliminate the tax benefit on appreciated assets on that stepped-up basis that I mentioned combining the estate tax. The new hire capital gains rate in the repeal of the stepup in basis could bring total effective marginal rates as high as 61%, according to some analysts.

So yeah, I mean you know is all that gonna pass through Congress your weed that remains to be seen, but it certainly is a possibility down the road.

Currently, there would be no issue unless she had a very sizable estate above 11.7 million.

Does that make sense that yeah I help for Carousel at an anti-fighting not getting that way at this point would be any benefit to her Orient and the recipients have to be attesting to sound sure now, obviously, that could change in the only thing I would mention is you know there's something to be said about getting that into circulation in God's economy sooner rather than later so I think you're doing some analysis to say what is actually needed to support her lifestyle for the rest of her life, and if there if there is excess given the desire to be generous now to support the work of ministries that she's passionate about and given that to we could see a very real change in the tax code.

With regard to many of these things, including the elimination of that stepped-up basis which would mean that you know if she has low basis securities and if there was a change that was passed through Congress. The those could be inherited and have significant taxes that have to be paid on them versus you know them being gifted so you may want to consider that again a lot of that has to do with the overall planning and what her needs are versus the assets that she's accumulated as to whether or not it makes sense to go and begin getting data into God's economy today, but from a tax standpoint, at least, that the way it stands today, you shouldn't have any issue. I hope that helps me appreciate your call today to Holland, Michigan Luke, thank you for your patience. How can I assist you I Rob I have a quick question regarding simple well on my wife and I had a will done by an attorney several years ago and that medicinal children and just need to make some minor changes where your thoughts on like the online legal and just like a simple will online like LegalZoom or stuff like that versus an attorney.

I mean it's like $90 versus $700 is is an online simple, well sufficient, you know, it's better than nothing. Luke, but it's not my first choice.

You know, yeah, you could save a few hundred dollars and the average will done by an attorney should be 500 you may find them. In some cases a bit more than that, depending on the complexity where is as you said, you may be able to get one online for less than hundred dollars. And again if if you don't have anything I would say that certainly would suffice. I just think it's an important enough process to go through that to make sure it to complies with all of the laws in your state to make sure that to all of the appropriate questions are asked and answered that you may not have thought of that an attorney can bring to bear. Not to mention you are there other documents legal documents that need to be put in place at the same time that an attorney could draw up for you and thinking a healthcare Sarah get her living will to make sure that end-of-life decisions are made in taking that pressure off your family. Even a durable power of attorney that could be put in place so that it's there if needed for certain folks to act on your behalf or your wife. So I think you having an attorney, a godly estate planning planning attorney help you navigate all of that and not to bring unneeded complexity, but just to make sure that everything is done appropriately is a good thing. So if it were me, that would be the direction I would go but again, you can have a fully valid will and save a few hundred dollars by doing an online you just made not fully consider all of the implications to follow absolutely that pretty much what my wife was thinking, but I might my wallet was opening critically about Brenda and keep out what you're here yet. I followed them for. Tell your wife you know one in her side of the ledger for me in the she wins this round but do appreciate you calling and thanks for listening. Would God bless you my friend well of folks were to pause here just a moment to a much more just around the corner were to be talking about the savings accounts how to restore your credit and what to do with the some excess funds.

Once the mortgage is paid off that and perhaps your question 800-525-7000. This is moneywise were biblical wisdom intersects with today's financial decision.

They by the way, you can do what we do without your financial support to rely on listeners like you to support our work here. Would you consider if you'd like to consider a gift. We encourage you to head over to moneywise just don't want to give her monthly given whatever it is the lordly moneywise live much more to come.

Just around the corners. They let us, thanks for joining us on moneywise live delighted to have you long today and write back to the phone since Illinois thank you for your patience. Okay yeah so tell me a bit more. You have a checking account and you have a savings account and what is that money earmarked for is that your emergency fund, or is that for some other savings that hopefully that will come trying to get it to my grandchildren my children. I've already given their share.

So I'm planning to pass it on to my grandchildren great and how much of you accumulated in that savings account so far taken 14,000 something okay well into what we would typically say is at a minimum, you'd want to have 3 to 6 months worth of expenses. So whatever the total that you spend on a monthly basis and multiply that by three or even better, six, and that would be your goal, you know, in the retirement season of life. I'd love for you to have you know as much as a year of expenses that you could fall back on if you needed it unexpectedly. It sounds like, though, that you have a yellow purpose for this money beyond just emergencies because your continuing to try to accumulate money that could then be passed on as an inheritance. I think the only question would be after you get beyond six months or a year of of expenses. Is there something else you want to do with it. If it isn't money that you don't expect to use it really is for inheritance purposes and therefore, you want to put it to work so you could get a little bit more in the way of return, then you know the half of 1% at best you could get from an online savings account with FDIC insurance, although with that would come more risk with the possibility you could seek a higher return. Tell me about that piece of it in terms of would you want to take some risk and invest it beyond that, the most 12 months of expenses are you wanting to keep it very safe and in a savings account. I okay and share share a body that many to create what he called back at Langley when a person money market okay yeah well Ally Bank is graded great customer service very good rates and it is FDIC insured so it's protected. I guess the only question would just be once you get beyond a certain threshold, and I'm gonna say if for your retired person living on a fixed income and this is really your only fallback. I'd love for you have as much as a year in that savings but when you get beyond that, if you wanted to put that to work to invest it to try to grow to bet. You certainly could do that or you could leave it right there, but I think you're what you're doing is a great thing.

I'm glad to hear you're living well within your means which is evidenced by your ability to add as you said 200 a month of the savings accounts I would say keep it up. It will be a great blessing to your grandkids, down the road. We appreciate your call today to Mississippi Sydney. Thank you for calling. How can I help you sir.

All I want you to get my critic back. I lost a lot of ground in my critic we might get some of my name, but I'm sure I got it all straightened out now, but I can't see how to get my critic my credit rating okay Sidney, did you put a fraud alert and is again a credit freeze on your credit reports. Yes, I need okay and you able to get the accounts that were open fraudulently in your name deleted from your credit report. Yes, I okay great and what is your credit score today is 626 if not want to stick one in over 620 okay and are you seeking additional credit. Are you just wanting to have a good better score just for your own peace of mind in case you needed something down the road. I won't some piece of my critic of market all very different about I see okay very good and what active accounts do you have today that are legitimate any I don't have any only zero only thing I have is a account at the hospital I think is 1800 out of my circuit at the hospital yet.

That's probably not being reported to your credit file so yeah what's hurting you now. Now that you got all this cleaned up and I'm sorry had to go through that. I'm sure that was not fun, but I'm delighted to hear your beyond it. What's hurting you now is a lack of credit because you know of portion of the scores determined by your credit mix yet installment revolving account you will you don't have any credit mix is you don't have any active accounts. The largest portion 35%. Your score is your repayment history.

But the newest information is what impact you the most and you don't have anything so you've done a good thing in the sense that your debt-free I love that. Except for this hospital bill that you're taking care of, but it is hurting your from a credit standpoint. So here's what I'd recommend it probably makes sense for you to open a credit card either a secured card.

If you don't want to have an open line of credit available where you put a certain amount on deposit at the bank and then they give you a limit up to that deposit and you could use that like a credit card or an unsecured card but just commit to only using it.

In either case, secured or unsecured for budgeted items and it doesn't have to be a lot do you charge each month. It could be a very small recurring bill that you have that you put on that credit card. It's a planned expense you're already paying it every month. It's just you paid to the credit card paying in full every month. That's going to establish a positive payment history every month, and over time that's can help you build up your credit so that's probably the easiest thing for you to do. Sydney is open one of those accounts get a recurring charge and just make sure it's paid in full every month so you don't have to pay any interest.

Does that make sense if I tried at my local bank wanted to say today and they turned me down. I don't raise it because of the great house amount. All of the bank. Well, I'd pull a copy of this credit reports to see if there's anything showing past due. You can go to annual credit credit annual credit pull each of the three bureau report see if any of them are showing anything that's delinquent or past-due that needs to be corrected. Apart from that, you shouldn't have any trouble with the 628 and so I think the fallback though if you do have trouble opening an unsecured credit card would be a secured card which takes all the risk away from the bank because you're putting a deposit down and then there extending credit against it so they know. If you don't pay, they can just take your deposit but the whole purpose of it is to establish credit. So I would give that a shot if you can't find something that is unsecured and a great website to find the best secured or unsecured accounts is nerd got a funny name but a great website nerd and Sydney.

We appreciate your call today. I Nadine is in Miami, Florida your next up on moneywise live go ahead on high that I'm 43 years old and unmarried, but okay. We would not let my luggage payment will know that we quote that manual will think we need to do.

Nadine is to define the purpose of this money so hundred and 60 is the total savings that you have and that includes your emergency fund.

What I would call you know money that you're going to use first.

If there's an unexpected expenses that right okay and how much do you all spend roughly I realize this is a moving target, but on a monthly basis what you think. Your total expenses are like we had caught I will hundred okay, let's say you're wrong and it's 20 but let's say you're wrong and it's 2000 okay six months of that would be 12,000.

So what I would do is put 12,000 and a minimum into an online savings account. Now I bank Marcus capital one 360 link it to your checking and networking to call your emergency savings.

That's bucket number one that's gonna be your first line of defense of something goes wrong with an appliance or the car or major medical event that you don't have the money for. That's where you're going to go first, then the balance if you don't have any other savings goals you are trying to buy a bigger home or you gotta fund a college education down the road you need to buy new car. If you have some of those. Let's put those in buckets two and beyond. But if you don't then within with any money left that you have a 10 year time horizon on meaning you don't expect a part of barring something completely unforeseen, you don't expect to use that money for 10 years, then I think that's the money we want to look to invest and I would connect with either a certified kingdom advisor there in Miami. Just go to our website moneywise click find ACK do a ZIP Code search. I'd interviewed two or three and then that professional would invest that money based on your goals and objectives and with your input in full knowledge and the goal would be to grow that money over time, and so that be the approach I would take if you want to do it yourself.

I would avail yourself of the great resources and in sound mind they can allow you to direct your own investments through mutual fund, strategy, and they do a great job with it. So think you just gotta decide you want to delegate to a professional to manage it for you or would you like to handle that yourself. You want to delegate to search for CK if you want to do it yourself you can do that sound mind We appreciate your call today. Thank you for checking in with us. May the Lord bless you folks that's going to do it for us today.

We have covered a lot of ground dealt with a whole host of issues, here's the good news of God's word speaks to all of these issues was only five things you can do with money we could save it, give it taxes paid that credit on her lifestyle. God's word speaks to all of it. That's what we doing today is to say thank you my team.

Dan and dad Gabby T and Jim couldn't do it without you. Thanks to you for being here moneywise live is a partnership between radio moneywise.

I hope you come back and join us tomorrow. I'll be here for the Friday edition of the program was the middle of rush

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