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Bearing One Another’s Burdens

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
July 9, 2021 8:03 am

Bearing One Another’s Burdens

MoneyWise / Rob West and Steve Moore

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July 9, 2021 8:03 am

Have you ever been hit with a big doctor bill and prayed for a miracle—like maybe angels would suddenly appear and pay it for you? On the next MoneyWise Live, host Rob West welcomes Lauren Gajdek with Christian Healthcare Ministries, to tell us how that’s kind of what happens when you sign up for a medical cost sharing plan. Then Rob will take your calls and questions on the financial topics you’d like to discuss.That’s MoneyWise Live, where biblical wisdom meets today’s finances, weekdays at 4pm Eastern/3pm Central on Moody Radio.

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If you're like me watching little kids do Easter egg hunt is a pretty beautiful thing, but I always feel bad for the littlest of the pack.

It always seemed so traumatizing to see that little one run for an egg. She has her eye on only to have a bigger cadence 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.

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Equal housing lender not licensed in Alaska, Hawaii, Georgia, Massachusetts, North Dakota, South Dakota and Utah, and today's version of moneywise lives prerecorded store phone lines are not of been hit with a big Dr. billing prayed for a miracle like maybe angels would appear and pay up for you Rob West.

That's sort of what happens when you sign up for a medical cost sharing plan learn guide a good Christian healthcare ministries is here to talk about that today it's not really a miracle, but it sure feels like one that we have some great calls lined up but please don't call him today because we're prerecorded. This is moneywise lives for God's word is the last word on our finances Laura guy deck is vice president of communications and media at Christian health ministries and she's here today with some great stories about how CHN members share the financial burdens of healthcare which everyone knows can be incredibly expensive.

Lauren welcome back my trap. Always enjoy our time together and learn some folks may not be familiar with Christian healthcare ministries and cost-sharing. So how does the program working in the chill healthcare ministry, nonprofit medical cost sharing and so you know we we are a nonprofit. We are not an insurance company which is a common misconception but were here to do the Lord's work and to enable Christians to share each other's medical bills, so Christians from all over the nation. Missionaries and other countries. People serving in an full-time tree will join the program and pool their resources together in order to help each other out in income. The most difficult times of our lives when we have no medical medical incidents and medical expense. It's actually a biblical model is foundational verse in Galatians 60, which carry each other's burdens, and so fulfill the law of Christ on what we wanted it. We want to put our faith into action and that you be able to come alongside people in their time of need that no one can meet us.

Let's perhaps start with a practical example for those who are unfamiliar.

Let's say I'm a CHN member and I'm hit with a $20,000 bill or series of bills for a medical procedure which is not uncommon.

What happens then you will collect your Dell he would send men into Christian healthcare and train and then we would work on SRA receiving accounts, working with healthcare providers and then what we would do you is we would issue a check back to you for the eligible amount of those expenses and you, the patient would pay your healthcare provider actually considered self with the assistance of CHN.

How can folks be assured that this type of program actually works .43 to 40 year of service, and we have served hundred thousand people with their medical bills. In addition to that, you know where better business hero accredited charity and we had that designation now for nine years that we know that we the people are looking for something that is not only faith-based but also is something that they can have confidence that they're going to CompUSA and actually receive help with their medical, yes it sounds somewhat too good to be true for there any drawbacks to Christian healthcare ministries. You know I get that question a lot and I would say it's not so much about drawback more so you know it can be difficult to understand the program that people are accustomed to thinking their healthcare in a certain way and work differently knowing we just talked about a few minutes ago.

You know that the members of our ministry are self-pay patient enough that everything is filtered through the patient and actually the patient is put in control of their healthcare costs so you know the model works differently. I like to say it works differently, but the end result is the same where your healthcare costs are taking care at the end of the day that's what really matters, but that's exactly right.

We actually team members see Jim for a long long time as you said, putting them in the driver seat to work directly with their providers but having CHN behind them and all of these Christians sharing their medical bills is just a opportunity and did we mention it's budget friendly, which is enormous. These times will continue to talk more about CHN why Christians are drawn to this program and some practical story. Some examples of people just like you used to. Laura guide X with us today from Christian healthcare ministries much more to come.

Just around the corner. Today's program is prerecorded, so keep that in mind when you hear phone numbers were going to pause for a brief break now, but Rob West will be back in a moment with more moneywise live welcome back to moneywise live with us today is Laura guide vice president of communications and media Christian healthcare ministries talking about a wonderful it's budget friendly to come alongside you as you navigate your medical life the needs that you have the costs that you have that seem to be rising all the time. Well, CHN is based on a biblical model and has been doing this for more than 40 years in Lord if I'm not mistaken. Last year alone, CHN share nearly half of billion dollars in members, medical bills, is that right little bit more and we shared over hundred million dollars in our member that is incredible.

As we said before, Laura, and this is based on the biblical model, and I suspect that's one of the primary reasons that Christians are drawn to CHN. Would you agree we take our cues from chapter 2 and four where that all the believers were gathered together and they shared with each other and paraphrasing a little bit but they pulled their resources together and shared what they had, that there was no one in need and that's what were trying to do here at Christian healthcare ministries in the area of healthcare, tasks, share some real-life examples of how CHN was made a difference in some of your members lives and know you will see your members almost as family and your team gets to know them and their situations and it's really exciting to hear some of the stories of the people behind the medical bills are being shared.

Tell us a few that come to mind, and my head one had members who have contracted pelvic pain over the past year and month and one of those folks that the gentleman from Illinois and he wasn't feeling well and it wasn't going away. So eventually he mentioned it to one of his friends. He was an EMT and that gentleman said you know if you would call 911. I would have had you on oxygen already and you think you need to go to the hospital so this gentleman went to the hospital and the ER doctor rushed him back and later they told his wife that if he had not come in that day, he would not have made it through the night while incredible I know so many have struggled with this and it's resulted in significant medical bills and obviously having somebody behind you, like CHN. This takes a huge burden off during an already difficult time.

Perhaps another story, one that I'm thinking. It took place during this whole pandemic.

As well, you know there's a lot of information out there about virus, but we have to remember that there are people going to other medical events all the time regardless of data in an particular one I'm thinking of the lady in Florida, young lady who is in her 20 and I know she was pregnant during that time last year and you know she was diagnosed with preeclampsia and become that you know that the very serious complication of pregnancy.

She had to have her baby. 28. We and so you know that house is very challenging for baby to be born early, but also you know they they feared for her life and they told her husband then you know you might not be going home with your life after the baby is born and thank God they both were okay baby was in the NICU for a little while but dear family had over $600,000 in medical bills and one of the hospital bills just one bill. With over $500,000 and you know they got some really wonderful discounts on their healthcare provider and then CHN was able to come alongside them and help them with the rest of those expenses during a very stressful time, but I'm just so happy to report that email both mom and baby are doing just fine today incredible story is before you really CCH and its members is a big family.

What makes the CHN body of members different from the other options people may have a great question. I left there because you know just such a different experience.

You have a supportive group of Christians who are loving on you who are wanting to help you in your time of need and talking about financial help, you know, we have thousands of people on social media who are regularly encouraging each other praying for each other mean that we have a prayer card ministry where our members will write each other. Defendant cards still send emails you know they'll just send Bible verses all kinds of things and in some of our members have reported that you know receiving sometimes hundreds upon hundreds of cards in the mail has meant more to it and even then the financial sharing component though you know it is a true ministry and it is an extension of the local church.

If you think about it, since rights you will go out of your way to compare yourselves to insurance because it's completely different. Why is that such an important distinction more importantly, you know the one thing that's a different experience. We talked about that a little bit before earlier where health cost-sharing put the patient in charge of your healthcare and you understand me know what your healthcare is actually costing you, you know, and in other scenarios. Sometimes you just have no idea, and that the problem we were very big on transparency in healthcare, pricing, and then again you know another key differentiator and another reason that this is that ministry is what we just talked about, you know with the members praying for each other and when people calling our office is in and they're going through a really rough time. You may be their child.

Take or you know, maybe they just had a big health scare themselves and they calling in and they're kind of that at the bottom there.

They're kind of rock-bottom sometimes and our staff will pray with them and help them answer all their questions. Of course, but just hearing that compassionate voice on the other end of the phone is so meaningful to us.

So I think just goes a long way to reassure folks learned who do you think CHN works best for as you think about the various people that are listening to us today.

Anyone who is a Christian living by biblical principles, so you know there's a lot of opportunity there and whatever walk of life, your ear, and whether you're a pastor.

Whether your teacher whether you work in construction me know your ear older younger male or female. You know we do, we do serve all of those folks as long as the Christian belief system and really wonderful thing about this ministry. In my opinion is, you know, there is the diversity there. It doesn't matter the color of your skin doesn't matter what you know what you where you been working or what you been doing in your occupation CHN. They are for believers and were there to help them in their times of crisis.

So to swell folks if you want to get more information about Christian healthcare ministries, or any topic related to healthcare transparency call CHN today hundred 791-6225 or CH Lauren, thanks for stopping by the website again.

CH much more to come on moneywise live stay with us. This is moneywise live for God's word intersects with your financial life.

The right to Nashville, Tennessee.

Welcome Alex to the broadcast. Alex reported that Michael Michael should hundred 57 to August, but unfortunately I don't out and beautiful little long. But old already in the Primerica is little money like the looks so old 401(k) and the company.

What I woke that also meet local of the lung watching all I'm going so, this was a 104 photos of it which I have implemented cuts to hold along. No, sir.

Importantly, kids, others different tax treatment going on with the Roth IRA than even the traditional IRA and even then typically they wouldn't accept those funds. Once it gets to a higher rate if you have let's say an old 401(k) and you're moving to a new employer who also has a 401(k) in many cases the let you move that in. You have to verify that with the plan administrator but in this case because it's already an IRA and in addition to that, it's a Roth which you didn't get the tax deduction, but that monies growing tax-free. You would not be able to transfer it into the traditional 401(k) so what I would recommend Alex without matching I think you're making the right move here and that you beginning to contribute systematically to this 401(k) take advantage of those matching dollars, which is free money makes a lot of sense that you pick the right mix of investments inside the 401(k) that's appropriate for your agent objectives. If you need some help with that. You could seek that out and then with the Roth IRA. I would probably suggest if there's not a whole lot of money in there. You do one of the two options I mentioned to the previous caller either visit with our to consider some mutual fund options that could be used for investing these dollars or look at the transferring that to one of the firms that offer more of an automated Robo advisor type solution what Schwab or betterments or wealth front and hopefully that'll help you today. We appreciate your call very much, but let's stay in the state of Tennessee and welcome Teresa to the broadcast Reddit my call care for a family member who had a retirement fund and a breaker. Irene and Sherry, my main question is just I want to handle it responsibly. If I contact them for that notification and I is there a way that I'm left to carry taxes and penalties can be avoided. At that dispersed their right way and a wrong way to go about doing that you don't incur any have to carry taxes or expenses not requested. Teresa and I appreciate you wanted to be a full steward of your dad's estate, especially as you been named executor, your taxes really shouldn't be an issue. The taxes typically would be paid by the states, but given that the exemptions are so high. The other would probably not be any estate tax here in the best way in the 2020.

It's $11.5 million of that, you have to get to above in terms of the total value of the estate before state taxes kick in 2021. It's $11.7 million over talking significant estate here. Beyond that, you're with the O will that would do pass according to the probate court and they would direct you as to the process of distributing any funds and when that transfer can occur with the beneficiary named accounts like an IRA were there are beneficiaries listed on the account you would just provide the death certificate in information of the brokerage firms and give those would pass directly to those that are inheriting those in the IRS provides the guidelines at that point as to how that money is distributed, so it will be taken out according to those schedules and often depending on whether it's a spousal IRA or it's an inherited IRA nonspouse will be different methods by which you can take it out over expected life for over 10 year period and then taxes are paid as the money is distributed. So I think you're doing the right things. I don't think you have thought to be terribly concerned about doing something wrong because there really is working to be any tax implications here for most people just given how high that bar is for estate tax and again the once it gets to the beneficiaries.

They will handle that. In terms of their own taxes.

Moving forward with their CPA and we appreciate your call. Let me remind you the moneywise app is available if you've not downloaded yet. We would encourage you to do that, you'll find it in your app. Stories of the Apple or Google play store and it's the best digital envelope system I've ever used.

Plus, our community is there, you can ask questions and receive encouragement as a steward of God's money, and all of our content in the discover tab from the leading voices in Christian finance go downloaded today before we go to break.

Here's an email. This one comes from Patty and Chattanooga. Patty writes my husband and I don't see eye to honor spending plan.

How can we come together in this area and Patty let me start by just encouraging you that this is not uncommon. You know, when you put two people together in marriage under Christ, we come together with different backgrounds, different personalities and I would say different money personalities as well. What might be a saver one might be a spender. We in most cases grew up with different economic status are parents handled money differently. All that informs how we see money. The key is you will need to establish a common vision for how God has equipped you to handle the resources he's entrusted to you for his glory.

So I'd start by praying asked the Lord to give you some wisdom and insight as you navigate this together. Ask your husband if you all can have a money day sit down and talk about what's most important values that you have and how we are God's leading can really be informed by dictate how you allocate God's money, and then with those in mind develop a brand-new spending plan that starts with your priorities and allows you to make sacrifices each day. When you cutback in certain areas of spending that allow you to accomplish the goals that you have together. Start there. Let's see if that doesn't change the conversation. Money doesn't become an instrument. I appreciate your email if you have possibly write back. This is moneywise live are so glad you're alone with us today on Rob West.

Let's take an email question email simply as many of them as we can hear periodically you have one you want to send along certainly love to receive it. or you can go to our website moneywise and click ask a question you get a personal response from one of our moneywise coaches at today's email comes from Sally and she's calling from Eugene Oregon and Sally Wright should all of us have our accounts frozen with our credit bureaus and what Sally is talking about is a credit freeze. Each of the bureaus. Six. Equifax and Trans Union, all by law have to offer you the ability to freeze your credit report at no cost. You will have to make that request either through their website or by calling them or through the mail but essentially my recommendation. There is typically you can always choose to do it.

Typically I would say if you know your information is been compromised which seems to happen often these days. Or, you know that you've been the victim of identity theft you would absolutely want to freeze your credit.

That's essentially going to place a pin number on your credit report so that if anyone tries to open an account in your name. This would be someone fraudulently trying to do that they wouldn't be able to do so because there would be a pin number that would need to be provided in order to allow the lender to access the credit report if they didn't have the pin number because that something you only know then that would stop them in their tracks so you could do it. It's good to add that extra layer protection but also an extra hassle factor if you will, when you're trying to open a new account or seeking some credit. So I typically say if you know your account or identity has been compromised.

Go for it.

Otherwise it's really up to you. We appreciate you all sending those questions and again the email address questions that let's go back to the phones to Indianapolis, Indiana. Bill your next up on moneywise let go answer: quick question for you, uncle planner back in the day where people would give him their paycheck and he would give them an allowance and he would pay the bill department store bills molecular in old unheard of today so much he gave thinking for him like my dad and I think my dad follow through with it because I remember I was a teenager not paying attention and we had a mortgage burning and we all went out to eat like and your mortgage house. My uncle told Mike that destroyed. Take half of your payment payment and send them to. We currently if you payment of $600 and it's due on the first 315 and 380 but you paying that out like 12 years and therefore the 17 burning party and all that and understand that I think paying an extra payment of payments, you could come up with that money to do that but the real you know early and you don't have to pay anything and if I'm wrong I want to know. Okay Bill first. I love the idea of the burning that mortgage once you pay it off and by the way I do encourage folks to really press into paying off your mortgage would be some financial professional was financial professionals that would say no. Hang on to that court include tax deduction and put that money to work in a higher interest store return environment and continue to keep your mortgage. I'd say no. If you have the ability beyond emergency fund, beyond the giving that the Lord lead you to do beyond providing for your family and short-term savings goals give the ability to pay down the mortgage early you go for it you won't look back now, this idea of the 13th payment it's you probably have it slightly wrong Bill because if you just pay the same amount, but you do it on the first and the 15th instead of doing it all in one payment.

It's probably going to be received by the mortgage company the mortgage servicer and applied as one payment even though it was to have payments on two different days of the month which, if you don't get any additional money going to principal isn't really not going to help you and typically they know it's going to go to the scheduled monthly payment anyway. Which means you gotta stay right on that same amortization schedule than you were given when you started where folks typically when they talk about 13 payments are going is what's called a biweekly mortgage payment, which don't pay anybody to do this you can to this yourself. And it's this idea that you would send 1/2 payment every two weeks which means you're going to end up sending 20 6/2 payments or 13 full payments.

So in doing that payment every two weeks.

Not first and 15th but every two weeks you can end up sending those 20 6R payments are 13 full payments which means of course one extra payment a year that wears that one extra payment going well.

Every time you get to a place where you're making an extra half payment beyond the scheduled monthly payment that's going directly to principal. If you're paying that improperly in the mortgage servicer is applying it properly and that 13 payments a year is going to take a 30 year mortgage and cut it down on average to about 25 years. So that's knocking five years off that 30 year mortgage by just you sending that one extra payment a year and doing that every two weeks. 1/2 a payment does for many folks, smooth that out and make it very palatable from a budget standpoint that doesn't make sense though Bill does a very good what I think. Yes sir, I hope that clears it up and we appreciate your call very much. Let's go south to Florida. Rose your next up on moneywise live go ahead yes eligible to retire from my job and my options are to take a lower annual pension along with a lump or take a higher annual pension with no lump and proving to be a really difficult decision in part because it forget to get your life expectancy to see what is going to give you money over the long time wondering if there is a biblical perspective that might help me discern the better way to go, which would be most biblical and are there any scriptures that touch on any aspect of the slide appreciate the question arose because clearly you want to honor the Lord with your decision, which is what you want to make sure Scripture aligns with this decision and I would say specifically for my vantage point related to the nuance of do I want to take the lump sum a lesser payment or partial with the larger you won't find anything specifically in God's word. To that end, I think the idea here is to recognize everything you have is from the Lord.

He is your provider. He will never abdicate that to anyone else, and it's all is right.

Everything we receive is this, we want to be a careful steward of that. I think at the end of the day. This really is a financial computation equation 1st and then secondly it's an issue around what gives me the most peace of mind and really frees me up to do what God has called me to do.

I would want you to visit with a financial professional rose to make this decision. They're going to look at the internal rate of return to determine which is more convenient for you.

There also, look at your from a lifestyle standpoint to make sure whatever you do shores up your income so you know that your obligations are met. And then finally with the lump sum it should still have some money left over for things that come. We appreciate your call today if you'd like to post a question or a community moneywise. I would love to have coaches stop by. I'm in there periodically, as well. Just download our app in your app store today. Search for moneywise will find the pause for a brief break back with much more. This is our final segment of the broadcast. We previously recorded. Thanks so much for being with us today and we hope you stick around and enjoy the rest of today's program. Matthew 621 says for where your treasure is, there your heart will be also.

In other words your heart follows your money and as we deal with your questions and comments today here in moneywise live. We recognize that money issues are ultimately about your heart. What matters most to you and we want to make sure that our money is reflection of what God is doing in our lives that are goals are based on really honoring and glorifying him with what he's entrusted to us.

That's our aim at objective. Here each day as we tackle your financial issues from a biblical perspective you need help with your spending plan.

Getting out of debt, developing a giving plan we have moneywise coaches that would be delighted to come alongside you at no cost the beach with you virtually properly, socially distanced because you're just gathering between two computers, and others love to walk alongside you and encourage you help you set up a spending plan and teach you some of these principles we talk about here on the radio each day. You can connect with the coach when you visit our website moneywise live just click the button that indicates that moneywise and it will get one of those coaches connected with you all right. Let's go to Escondido, California Sonia Koller. Next up on moneywise not going 76-year-old single woman fairly newly single owner. How very low health payment. I'm in a situation right now what I'm able to put between three and $4000 a month in saving but kind of disturbed me put it there and sitting.

I don't need to have my health early because I'll never get paid off. Anyway, I have three kids and they are financially exceedingly comfortable. I just don't know what to do with that money. I mean II know I need to hold onto it, but there's something that I can do other than leaving it in saving I did just buy some silver but not much.

You have suggestions.

That's just a couple questions if you don't mind what you have currently in that savings account that you been adding to all these months that 33,000 and it hasn't been very long night. Been adding because I bought a very nice car used car and had to buy my ex-husband out of my home.

So I've just been now start about the last year able to save yes and you have other assets like investments available soon. I had to turn those over to my ex-husband in order to keep the house I see have Social Security retirement from my work and alimony. I say okay very good. Well let's question what would be the total of your monthly expenses roughly about my associate, my retirement yet for set the income side for second when you total up all the bills and the obligations that you have both fixed and discretionary all the spending that happens in the typical month, what would you say that number is roughly around 3000 I just replied to my health payment is low.

Okay, very good for about 3000 yeah well yeah I like in your position where you've got your income covered. You kept your lifestyle at a minimum, as you said you living modestly, you don't have a lot in the way of of assets to tap into your down the road if you were to need them.

I like the idea that you would have four years worth of expenses you in a liquid account that's safe and accessible.

I'd probably put that in a high-yield savings account and then beyond that which one month from now, if you're saving 3000 month you'll be there 36,000 then if you want. Beyond that, to put this to work. Are you comfortable taking a little bit of risk with this money meeting that you looking for a higher return, but it could lose value or are you more concerned with it being protected.

I'm pretty conservative. I very okay so then you probably don't want it in the stock market you one of the challenges that you have right now is that you could you put this into longer-term bonds or a diversified bond portfolio, but you have to recognize even then, as interest rate set up prices of the bonds would move down so you want to be investing on a dollar cost average basis, which is 3000 a month is available, you know that's gotta be something that you be doing so as you buy in your buying the bonds or the bond mutual fund it at different prices based on where interest rates are but you're walking in that return that's can be better than you might find in a CD or savings account to be more stable than stock portfolio, especially if we were to get into a recession in the stock market were to head down and it's good to give you a little bit more return.

So you see some growth on that I would visit with our friend Sonya at sound mind investing its own mind they would have some wonderful recommendations for you on how you could begin systematically investing in some bond mutual funds that would be high quality bonds that would again give you some of that stability, but also a little bit better return than you're seeing right now and I would really focus on keeping that 36,000 that one year's worth of expenses, stable liquid secure, but also you right now earning the prevailing high-yield rates which, if you could again go to Marcus or capital one or ally you can get about 1/2 of 1% a year, and as interest rates move up over time will see that number increased so you're in a great spot.

I think the key right now is for you to continue to build up what you have each month so that if you need it.

Down the road for long-term care or some major expense then that would be available. Also, don't neglect any giving opportunities.

The Lord made bring your way. As you have some access to contribute to those in need, so hopefully that's helpful to really appreciate your call very much today, let's head to Chicago Illinois and welcome Kathy to the broadcast to read and continue into retirement their part of the nomination retirement in the proper place said should we just recently inherited money to pay off our mortgage in which case we would live parsonage allowance we had about $50,000 that we own our house mortgage isolates. All right, so the parsonage allowances only until the home is paid off and then at that point could be used for other expenses related to maintaining the home are no I don't know what you yeah okay very good.

The other question I guess I would have is don't want to not pay it off simply to just continue to receive that that offset given that that's for the home, but at the same time you can forgive very good case Kathy that there could be a better use for that money.

So tell me about the rest of your financial life in terms of your investments.

Do you feel like you're on track with retirement savings.

Do you have a fully funded emergency fund. What other considerations might you have for this inheritance and get retirement right now about 28, 29 years editor and where in our early 60s. Yet you have inherent toward retirement or we could pack our help and use that money every month every month our mortgage toward our retirement right now. I could really make a strong case that you're already on track me. Let's set the parsonage payment aside for second just look at this from a financial planning standpoint, I would want you to have that home paid off by the time you reach retirement and arguably you're already on track to do that with that whole being paid often and for years in your 60 roughly. So I think taking this money that the Lord has provided through this inheritance and putting it to work and seeing that is money that you know is is to be used at least 10 years down the road, yelling and having a properly diversified yet conservative portfolio. Given the proximity to retirement would make a lot of sense as opposed to just dropping that on the house right now even though you'd free up that monthly payment you would have the ability to go and invest the full amount today so I think that's the direction I go, but I think you all could benefit Kathy from some time spent with an investment or financial planning professional just to look at, where you are you on track ahead or behind what you need to consider and begin to think about that retirement season of life to make sure you do have a plan that syncs with your lifestyle and the financial needs that you can have and what will be available to you down the road so that's my best advice and I would encourage you to prayerfully consider seeking out a financial professional. We appreciate your call today. Let's go quickly to Lavonda in Illinois, go right ahead and offer $500 on a new credit card will give me 200 cards. I already paid them off monthly. There should I do not like it hot some of the problems you know, I don't see a problem necessarily, that sounds a bit rich in terms of the benefit that they're describing here.

Clearly, if you pay five. If you spend $500.

Even if you pay it off there to get the merchant rebate and clearly they're hoping that you continue to use the card at some point run a balance in there to start earning fees off of the interest. In addition to the merchant rebate and if you were to get behind them all the other things that come with that. Sounds like you're responsible. So if you've read the fine print and that's what you in fact would get there may be a slight dip to your credit score temporarily because you have an inquiry on there so I would just go back and read the fine print.

But there's nothing inherently wrong. Other than that slight dip temporarily in your credit score with you opening this account.

Assuming you managed your credit wisely and you're not going to get into debt so hopefully that's helpful to Lavonda. We appreciate your call very, very much.

Well folks, so we are about out of time today we appreciate so much all of your calls you.

Here's what we want to do each day on this broadcast.

We want to understand God's heart as it relates to our because we know there's 2300 verses word deal with money, possessions, and the reason for that is because there's so much to say about our money in our hearts and ultimately our walk with the Lord say thank you to my amazing team today Deb Solomon producing Jim Henry on research Rios engineering and cavity answering our votes today moneywise lives of radio and moneywise media would you come back and join us tomorrow will be here for another edition moneywise lives

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