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Acts of Generosity During Your Christmas Season

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
December 7, 2021 5:10 pm

Acts of Generosity During Your Christmas Season

MoneyWise / Rob West and Steve Moore

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December 7, 2021 5:10 pm

Thanksgiving’s well behind us and we’re knee deep in the Christmas season, but are you feeling the “Christmas spirit” yet? On today's MoneyWise Live, host Rob West will talk about how being generous can counter the stress and strain of the season and help you find your Christmas spirit. Then he’ll address your questions on various financial topics.

See omnystudio.com/listener for privacy information.

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Those were the Christmases are you feeling the Christmas spirit Rob West too often the stress and strain of the holiday season keep us from feeling the joy of Christmas. Talk about the first today and how you can find the Christmas spirit limits on your calls at 800-525-7000 800-525-7000. This is my wife live biblical wisdom for your financial journey.

I with gratitude. I love the verse in God rest Ye Merry gentlemen, remember Christ our Savior was born on Christmas day to save a soul from Satan's power when we were gone astray old tidings of comfort and joy. God became flesh in Jesus Christ to free us from sin that we might spend eternity with him. That was the ultimate act of generosity and we can show our gratitude by being generous ourselves. That's the real secret of fighting the Christmas spirit giving to others and to help with that. We've got a great article on the moneywise website for 25 acts of generosity during your Christmas season will put a link to it in today show notes. Now I can't go into all of these great ideas in the time allowed. But I'll share some of them with you to help you find the true Christmas spirit. Some of these involve money, but many do not first held out, leaving a big tip with a note for your server. The next time you eat out.

You might include a few verses from the Christmas story in Luke two work lyrics from your favorite him. It's a great opportunity to witness for Christ if you're baking Christmas cookies this year make an extra batch or two, and share them with your neighbors that would give you a great opportunity to invite them to your churches Christmas Eve service. Here's a good one. The next time you're in a parking lot look around for an older model vehicle. The older and more beat up better then slip five dollars and the windshield.

Of course you've all heard about paying it forward. How about paying it backward when you're in a fast food drive through line pay for the person behind you.

Imagine their surprise, watching your taillights as you drive away.

All right, here's one that doesn't involve money. I mention the Christmas story earlier. Take some time to read it to your family. Now that's a great holiday tradition and a reminder of the real reason for the season. Let's see how about sitting over dinner to a single mom or a foster family.

If you can't cook, consider giving grocery gift cards. James 127 tells us religion that is pure before God the father is this, to visit widows and orphans in their affliction, and when you do share the gospel. Remember it's the greatest gift you could also buy a foster family or single mom a Christmas tree your Christmas gifts. Christmas can be a financially stressful season for those folks. If you have the means find ways to relieve that pressure for those in need. And here's another idea go to a grocery store and buy for $25 gift cards throughout your week find people that you can give them to and then pray for them. If you have kids, give each child one of the gift cards with the same task. That way you can come together as a family to share your act of generosity. You can also choose a charity as a family to give a donation to this Christmas. Let everyone decide together on which charity or ministry and an amount give your kids the option to contribute out of their own piggy banks held out putting together a basket of water bottles, snacks, and encouraging notes for your mail carriers and delivery people.

This is a crazy season for them. With very long hours. So make your house a refreshment stop for the on the root I have your kids help you put together Ziploc bags of water bottles and treats along with the church invite put the Ziploc bags in your car and as you drive around if you see a homeless person give them one of your Christmas kindness bags. Another one, consider volunteering as a family for a ministry in your church this Christmas. Malachi 310 reads bring the full tithe into the storehouse, that there may be food in my house and thereby put me to the test, says the Lord of hosts, I will not open the windows of heaven for you, poured out for you a blessing until there is no more need to include your time and effort as well as your mother. Here's another one that doesn't cost anything right if you encouraging notes to people you know need it.

A brief message of encouragement in Scripture verse go a long way. Oh I like this will face time with your parents and grandparents put aside 30 minutes to talk with them and have the kids join in.

Having prayer requests and spend time praying with it's the next best thing to being there and finally spend some time thinking about how God has provided for you and protect. That's just some 25 acts of generosity during the season. You'll find this article in the moneywise live tuning in the moneywise live with us today like to find the article I just referenced 25 acts of generosity. You can do that on our website just had to moneywise live.org and you'll see the article featured their acts of generosity during your Christmas season.

We love to check it out.

But don't just check out the article with those great practical ideas that you can implement with the whole family this month. We want to hear about them as well so the next step is jump into the moneywise community right there moneywise live.org you can do that quickly and easily when you create a free moneywise account and then post about what you've done. Let us know not only how you've used our suggested acts of generosity, but perhaps you have a few of your own that you like to share with the moneywise community. You can do that quickly and easily and are active moneywise community where coaches are interacting with you all the time again moneywise live.org just create a free account and will see you there. I got some phone lines open today, ready to dive into your calls and questions whatever is on your mind today we'd love to hear from you. Here's the number 800-525-7000.

That's 800-525-7000 whatever is on your mind today. Whether it's saving or giving you what talk about the Christmas season is coming up just around the corner, whatever it might be. We love to hear from you again. 800-525-7000 is a number to call before we dive into those phone calls. Let's take a few emailed questions. These come into us regularly at questions@moneywise.org.

Feel free to send yours along and will try to get it on the air.

This one comes from Karen and Karen rights were refinancing our mortgage. What tips do you have, to limit or reduce closing costs and Karen I would say the first and most effective strategy to reduce your closing costs is to shop around. It's amazing that folks for this largest transaction that most people will ever have in their lifetime of the purchase of a home or securing a home mortgage. Most people don't shop around. They look for one offering take it, making sure you get at least three and I would say to those three should come from an online lender, you might want to get one from your local bank or credit union. But then I had over the bank rate.com and look for who has the best loan programs right now that fit your needs and then shop them against one another is a good rule of thumb, you should be looking to spend no more than 2 to 3% of the total mortgage amount on costs. Again, that's 2 to 3% only on your closing costs and if you get a lot more than that, I would just move on so make sure you shop it around 10 is writing in and says I'm 62 and considering retiring. The problem is I have nothing saved the housing market is hot right now. If I sold my home I could make 60 or $70,000. Should I sell and Tim, I would just say what is your plan. Beyond that I don't have a problem with you downsizing, perhaps even selling and renting for a while. The key is if that's really your strategy to fund retirement at 60 or 70,000. What happens when you run through that and rental prices right now are very high and so as you think about the opportunity to live on and in retirement without working.

I think the key for you is to look at the opportunity to have a plan and make sure that plan makes sense for the long haul. So if you're not gonna replace mortgage with rent is that fit your budget and what happens when that once that 60 or 70,000 is gone. So I think the key for you right now. Tim is to continue to work just as long as you can keep your lifestyle at a minimum, so you can save as much as possible and we appreciate those questions by email. If you a question you can send that along to us at questions@moneywise.org are it is time to take your calls and questions today via telephone.

We'd love to hear from you. We got some lines open, perhaps one is for you. Here's a number 800-525-7000 call right now will begin today with Giselle in Wheaton, Illinois, Giselle.

Okay I hope you do will bury thinking and acting like things are near to know what what I think deadly happening starting point. The end of the land tax income you know where maximizing great pain that what would be a good Greek story is about to pull one thing that should now for deduction and everything thing for our first time to do over and let the bus.

Not all things very good was a great question and I know this is probably been a blessing to have flexible work that you can take advantage but to being self-employed has additional expenses clearly but there is an opportunity to deduct many of those legitimately and so I think the key for you is number one and this might be more important for next year. But think about this moving forward as you want to create a system to track your deduction so you want to understand which expenses can be deducted and then track whenever an expense occurs. You could use a spreadsheet or one of the expense tracking apps that are out there. The key is just to have a system that you thought through. I would also keep a separate bank account or credit card for business. This can be a great way to keep personal and driving expenses separated again. There's a lot of great apps out there designed specifically for this purpose that you could take advantage of you want us pay special attention to tracking mileage as well. Mileage deduction will likely be your largest tax deduction so it's importantly to carefully track your miles because the IRS does require a mileage log and you want to read up on how you claim mileage deduction so you understand what that looks like there are two ways to deduct mileage that will affect which expenses you can include others, either the standard mileage where you multiply your business miles driven by the standard rate and then there's the actual car expenses were, you would track all of the driving expenses yourself, and so you'll need to look at to what is the very best option for you. Either the standard mileage or the actual core expenses were you track everything yourself, it's probably important that this sell first year. If this is a new adventure for you that you get the help of a tax professional so they can make sure that you've taken full advantage of every deduction that comes your way.

This is all going to be done on schedule C of the tax return and I think having that professional guidance. Giselle is can be really critical for you moving forward. And so, again, whether this is something you've typically done yourself this might be the year to take advantage of some professional help that you may continue into the future or what you've got, got it down, and you understand what's possible you could perhaps go back to doing it yourself. But I think that he has get the system set up so that when it comes tax time, not scrambling to get everything you need in one place. You got good records, that's good separation between personal expenses and business. This is moneywise live with us today and moneywise line is this is the program we recognize that God owns it all. Therefore, we are stewards and money is a tool to accomplish God's purpose. Here's the thing.

It's the most compelling or I might say the chief competitor to Lordship you know when we think about and read the Council Scripture as a relates to money we're seeing it says a competitor to the Lord, being first position in our lives we know wanted to be in that place in one of the primary ways to loosen the grip of money over alliances to hold it loosely so we can give generously experiences that that breaks the grip of money over our life and we will help you do just that. As we think about what it means to conduct our lifestyle and manage God's money. Well, save for the future live with contentment and freedom so we can give generously. Let's do that together we got slides open today would love to hear from. Here's the number 800-525-7000 South Holland, Illinois Margaret, thank you for your patience. How can I help station on minutes he thought you started talking about money and having a problem with my use of my money. I was hoping to get the name Christian counseling said investment I what you're looking to do and I'll direct you to the right place.

Okay, I have doing pretty well.

My husband is deceased, so I never took care of the bills and happy flight and it needs 20 years so I wanted to know about. Once I get my money straight again because I had some crazy idea that I was gonna win 60. So now I'm in trouble and wanted to try to get out of the hole.

But after that I want to start investing because I'm I don't know if I can to my site at my age now, but doing fine but if you give me the name for something about moneywise so just a couple questions and then I can certainly direct you and I appreciate that backgrounds Margaret, what is the debt that you have right now. Do you have credit card debt or anything else that couple credit card I had done this past year. Left my stove and furnace went out. Well, that was it. Never much of the balance are you carrying on this credit cards agreement. The credit card you I had money in the bank and then I started taking net savings and so is but I say about 400 and not that much but the bills yes quickly and so have you actually did your emergency save half you have enough coming in every month to cover your bills. I will have.

Once I get caught I met a couple okay now I think the key right now is to get that spending plan lockdown that sounds like you know what your expenses are you probably living modestly, but I think having somebody that can help you feel just get that plan in place and make sure that to you tracking the flow of money in and out and you got a good handle on what it takes to cover your bills each month. Both those things you get a bill for in those things that are what I call discretionary that you spend every month but you know it has little bit more flexibility in the key will be to create some margin so that after all the bills are paid, there's something left over because the first priority. Margaret, as you know is to replenish that emergency savings. I'd love for you to get that back up to three months of your expenses.

Let's say you're spending 2000 a month love for you to get that up to a minimum of $6000. Preferably at that, your age full six months expenses.

So in my example of $2000 worth of expenses 12,000 in savings and I would do that prior to considering taking any money and putting it toward longer-term investments because anything you invest. That's at the has the risk of loss. We want to make sure that you have at least a 10 year time horizon on that and that's going to mean that you've gotta have the emergency funds in place. First, because the next time an unexpected expense comes and it will. We don't want you have to fall back on those credit cards and what you have something available to cover that once that's fully funded, then we could begin thinking about setting something aside the gets invested. What I'd like to do is is ask you to hold.

I want to have my team get your information and then I'm to have one of our moneywise coaches and give you call these are volunteer coaches that are trained there won't be any costs associated with this and they'll come alongside you to help you set up a spending plan. Answer any questions you might have hope. You think about how you can get that emergency fund back in place, which is going to take some time and then once you're ready for that will help you find the next step on investing so you hold the line. Amy will get your information will get somebody to connect with you that can help you at no cost. Get pointed in the right direction.

We appreciate your call today to Chicago, Illinois hi Alyssa, how can help you looking for a bear and buy a little background. I'm 29 I go back to school to get my bachelor degree in economic here's my degree in any time between time and I say I do a little bit of work on the side with little Burnside accounting. To that nature. I have roughly $3000 put to the side and I currently will move back here, I will buy the pandemic started with my parent and great individual did not rush me to get out but I do miss my space so I was considering practicing in a very small home or even one of the mobile homes and I just want a little advice on how to move fully.

Well, I appreciate the background. Alyssa what I would say to you is this is a great opportunity for you to do some really significant saving while you're at home keeping your expenses very low. I agree it be great for you to get launched in the out on your own, you're probably looking forward to that. At the same time the last thing I want you to do is to buy something prematurely without enough of the down payment and where you get overextended on your bills. I'd love for you to get a financial foundation under you. So think about what you might be able to spend for a small home or mobile home and then think about what 20% of that is that with your first savings goal beyond your emergency fund of three months expenses that would be my target.

Once you have that saved and you can get a mortgage that will fit in your budget. That's the time to consider launching out on your own. In the meantime take advantage of this opportunity where your expenses are very low save save say you looking to buy something right away 20%. You focus on that and let us know how it goes. This is moneywise my moneywise live on as opposed to biblical wisdom for your financial journey. What were all about here in this program we love to hear from you today. Whatever's on your mind, financially speaking, got a spot for you right now 800-525-7000 puts it back to the phones. Tampa Florida is where Leslie is today Leslie how can help doing great. Think about our refinance to my car I am planning on buying a home in the next six months and I didn't know.

I don't know if I should wait to refinance my car or do that before you very good. Tell me about the car loan that you have currently. It really high interest rate like at the time I took it in my credit wasn't good 13% interest okay right now I'm making an offer saying that I could get it a much lower rate. Three year four. I can see why you'd want to refinance that lesson. What is your credit score today based on your last pull my lowest one Myla Gloria.99 okay, you have some up higher than that.

Yeah like 728 very good.

I think as long as that purchase of the home is six months out for more. I think you'll be fine. You will see the minor hit on your credit when you go to refinance because that's can be a hard inquiry when that credit report is pulled from the perspective lender to consider you for the rate and the terms on that car refinance that's temporarily going to bring your score down, but it will climb back up to where it was. And you know the key is that you are just really vigilant about your payment history making sure that your on time payer every time you have a payment that's due the amounts owed would be the second next most important thing so you might want to take a look at what's out there and try to bring any balances you have on revolving debt like credit cards down below 30% of the limit, preferably down it zero and then there's some other factors that you'll probably not have as much control over the length of your credit history.

Your credit mix which is not to change unless you open a new account you don't want to do and then any new credit inquiries which is what were going to be dealing with on the refinance of your car loan is just 10%.

So again, you'll probably see a temporary decline. You should, you have no trouble getting a mortgage as long as you're over 640 and with you being at 700 or higher. Especially six months from now. I think you be in good shape. You may not qualify for the very best rates but you'll certainly have the opportunity is only a good documented income to be able to get the quality mortgage. I would be focused on saving Leslie if you haven't already to have at least 20% to put down but I would say with the interest rate you're describing on that car loan I'd probably go ahead and initiate the refinance, knowing that you'll see a temporary decline but it'll come right back.

And by the way, any credit inquiries that you authorize to prospective lenders for that refi within a two-week period are treated as just one so you can shop this around.

I'd be going to bank rate.com to look for the very best loan programs for used cars and get at least two or three different offers to see which is the best. Does that make sense yes or permanent. You're very welcome and thank you for your call and for listening. God bless you 800 525 7000s number to call. We got some lines open today Nashville, Tennessee hi Jay, how can I help you sir, call quick question for you my darling college junior outlet year to go and so probably not have any student loan debt or anything of that nature. Some try to keep them off that threat, but he's wanting to start a credit my notes in court when you want to go out and buy a car but get an apartment, even on the way that we can do that without him getting into credit card trap yeah yeah couple things number one would be you could make him an authorized user on what your accounts and you don't even have to give them a card to be able to use it.

He would then benefit from the history of that card which would also populate to his credit file, allowing him to establish some credit.

I keep in mind though that it flows both ways. The good credit history that you establish would flow to his account, but if you had a late payment or you because you just misted tour if something happened that negative information would flow as well.

So you just need to be aware of that and if you do allow them access to that account. You just need to recognize make sure he has the maturity to handle that as well. The second thing you could do would be to open a secured credit card in his name. This would be where he puts a couple hundred deposit dollars on deposit. He gets a credit card issued against it and then perhaps he has a regularly scheduled budgeted expense that he incurs every month it would automatically hit that card. He would then write the check or make the online payment to pay it off in full, which would establish him as an on time payer with his own account, there's no risk on the part of the lender.

Because of the limit is established by the amount on deposit so there's no nonpayment. They can be made whole by just taking those funds and using them just satisfy the balance, but that's a real common and effective way for him to establish credit over time. I think those two things are going to be the key to launch him out. Apart from that, I would just make sure your teaching good sound principles of managing money. God's way. In fact, if you stay on the line will give you a copy of the Howard Dean's book your money counts. Rapture give that to them for a Christmas gift and ask him to begin reading about some of these key biblical principles related to a biblical financial management that will go a long way toward getting him established as a future adult out on his own, managing God's money himself, so it makes sense. Awesome. Very good. Listen, you stay on the line will get your information get that book out to you in this and all the best as you walk alongside your son and hoping to be a wise steward. We appreciate your call today quickly to Winter Haven, Florida hi Eileen, how can I help you reverse mortgage on the Internet and no equity in the house we been trying to reach the loan servicer and the lender, to no avail. To request a deed of foreclosure and told her that option but they are unreachable. They do not risk bond and I'm not been on hold for hours to enter. How do we proceed yeah well well I think you want to establish documented establish the contact that you're making. Obviously, that the phone call is good and I would continue to try to get somebody on the line, but to there's no record of that and so I would be writing a letter, perhaps you have an attorney do that for you if somebody's there's an estate attorney or somebody that's been helping you establish your authority to act on her behalf ever drafted the power of attorney or something like that, perhaps, to write a letter that sent certified mail so that you have a record been trying to make contact regarding this matter because if they then file legal proceedings to foreclose on the home you're able to then establish court that you made good faith attempt on more than one occasion. So I would want to get that documented and I get the help of an attorney to make sure that that's done properly. I'm sorry. I know this is challenging 800 525 7000s number, we have some lines open. This is moneywise line, you only have a strategy for your financing your career even your strategy for your getting to know Christian foundation. We can help you create a giving strategy to your family. Maximize your resources to learn how the money lines.org the financial wealth you leave behind could be the best thing that ever happened to your loved ones or the worst, and splitting hairs, giving your money and things to your children without ruining their lives. Ron blue explains why it's important to make these decisions now, instead of forcing your heirs to do it later. Splitting hairs will foster a real appreciation for the precious resources that God has entrusted to you, and it's available. Click the start button@themoneywiselive.org hi, I'm Barry Lehman here remind you that for sure is a brother for your spiritual health. I look back to it.

Almost everyone I knew had a relationship with God and sought his wisdom for lives of our country. There's a moment in time that most of us didn't fully value at the time Grover took it for granted. I remember Pres. Reagan's same freedom is never more than one generation away from extinction in witnessing the truth of those words today for supporting with regards the exercise of our faith in our churches and in our daily lives.

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Thanks for turning in the moneywise line amount last year was restarted today by talking about facts and generosity opportunities you have during this Christmas season to be the hands and feet of Jesus and show generosity to those around put together a great article with 25 acts of generosity that you and your family can take advantage of this Christmas season. It's practical and it's a great resource. Would love for you to check it out. Florida had over the moneywise live.org and you'll see the article linking to our acts of generosity right there on the homepage, then jump into the moneywise community. We'd love to hear from you. What are the acts of generosity you are planning to show this year. Ivan jumped into our community and said he loves participating in his churches advent projects to support projects like drilling water wells in Africa. Perhaps your church is something similar.

You can be a part of.

Ruth said I love the volunteer church to help decorate for the Christmas Eve service. Well, perhaps you have an idea you can share with the moneywise community you'll do that it moneywise live.org just click the community tab and when you create a free moneywise account you can get in on the conversation. Again, it's always moneywise live.org are listed back to the phone. St. Louis, Missouri hi David, what can I do for user hi, good afternoon. Thanks for taking my call. I work for a large company, almost 40 years. I have an element of the 80 pension plan and element of the 401(k) where I've been contributing for many years, the pension plan has been a little Buffalo the normal benefit commencement date is stated to be April 1 of 2022 on page 64. About that time LB age 65 and noticed that the value of the pension plan I get a print out recently and it is 865 it value 500 something okay and then at age 67, and at age 68, less and that's their way of encouraging retirement so I'm guessing that some of the terms, some of the thinking out of the and how to make up decision. I went to the tire the 401(k) value but now for 66.

How could have been one market to market the contribution 100 K so I can tell what Nixon tries return and maybe have terminology that an education sure is no question about it, the pension wealth I can decline for workers who stay on the job past a certain day than so I think the key is that you understand exactly what's going on of the pension that's available to you so you can take that at the right time and you usually have an option to either take a lump sum or to get a monthly payout over time and you need to look at that in light of what your retirement budget is going to be and then what income sources you plan to collect at that time so I would be looking now, David, and what it will take to fund your lifestyle in retirement, recognizing most folks live on somewhere between 60 and 80% of their preretirement income because they're no longer saving for retirement.

Hopefully their debt free. At that point the kids are off the payroll. You got no funding commute to work in your work type closing in those types of things that are expenses you no longer have and as a result it that can allow you to live more modestly and then I would compare that retirement budget to the income sources you could expect to have, namely Social Security a reasonable income from that 401(k) and then either an income from a lump sum payout from the pension or pension monthly income stream that you would collect and find out what that amount would be at specific dates along the way so you can determine the very best approach to take.

If your company is going to continue to allow you to work and you don't need the money you need understand any impact it will have on your pension as well as you know what your plans are in terms of how long you plan to continue to work and then put that alongside Social Security so it sounds to me.

David, like you would benefit from some retirement planning having a financial professional who would be paid for their time not to sell you any products are necessarily managing the money, but somebody who could really look at your whole financial life and help you do some projections to plan for both you how to maximize these assets, how they should be managed. Once you retire. What income you might reasonably be able to take and then sustain the other principal balance over your the rest of your life and any risk you have. Do you need long-term care insurance or other things that you should be considering. So I would head to our website. If that sounds good. Do you find a certified kingdom advisor there in St. Louis to do some retirement planning with and that person could also help you look at the finer details of your pension understand exactly what's going on and help you interpret the document you're seeing. Related to the balances and specific dates in the future to get our website moneywise live.org just click find a CK.

All the best to you in the days ahead. Austin Texas is where Lisa and Lisa, thank you for your call today.

How can I help you get wondering about what it felt like crying and all that is fairly say or an outlet effort to going to. I am have done very well.

I like violent hand. I had like five year and not like I could, you know, it is our gain or whatever typically hurt a lot and good and bad about that client does you thought what you're talking. Lisa specifically about bitcoin as an investment yeah yeah I'm not a fan.

I would encourage you to stay away and a great example of that would be just what happened this past weekend, the price of bitcoin dropped about 20% on Saturday.

Now it's recovered a bit but essentially it was a bit of a flash crash. You might say literally in a one day period of time. Now a lot of that has to do with sentiment in the market and the fact that the market is probably gotten a bit ahead of itself, and then we had the omicron variance on the scene and a lot of investors took their highest risk investments off the table taking profits in the event that the market sentiment was turning. Obviously the market is done quite well this week and rebounded quite a bit but I reason I bring that up is we invest. We should be investing for the long haul work putting God's money to work. It should be based on biblical principles of diversification and steady plodding.not speculating in high flyers that have extreme volatility and that would be the category that I would put bitcoin in a very volatile and risky. Don't think the technology is going anywhere. In terms of the crypto currencies and their role in our economy moving forward. There's still a lot of questions because they're unregulated and difficult to understand as to what role they will play, but I think they're here to stay but not as an investment. At least with my money, so I'd encourage you to stay away.

If you have some money that has a 10 year time horizon, I'd say absolutely put it to work but I do attend more of a sure and steady approach that's properly diversified with a long time horizon, bitcoin would not be the place I would direct you to go. We appreciate your call today. Thanks for checking with us Chicago, Illinois Don how can help user hey there caller called a credit card got a little high on and my wife are considering a loan from the 401(k) and repaint that and then try and repay the 401(k) is wrapped all incorrect and also we would be back in the 401(k) question. I'm not sure it the great idea but it's an option I'm not a big thing that approached on what you owe on credit cards that you try to pay off about 8500 and the first time we got a little bit out of and so were paying about $150 a month on contracts right now. All right. And yes all the issues he got you there in the first place and if you're right size the budget that kind of disagreement. I'm not sure we have my wife would like to not be paying the interest to the credit card company. I kind of agree with but I'm not sure we solve the problem and that's the real challenge of an eye.

I can understand on paper how she would say this just doesn't make any sense, especially take another 401(k) and pay interest to ourselves at the same time you know what I've seen happen literally hundreds of times over the years. His folks take the pressure off by going in and paying something off. They haven't done the hard work to right size the spending to live well within their means, and therefore in over six months later in your colon back and saying, guess what the credit card debt is back, and now we've got this 401(k) loan were paying a lot.

By the way, the 401(k) loan number one of you know, if you happen to separate from the company for any reason. That's taxable to you. Number two you that monies in there to be growing for your future. And so what I'd rather see you do is cut back on your spending really make a concerted effort to recast the budget do the hard work to see what you need to eliminate both fixed and discretionary expenses. And then I try to snowball that debt outside of the 401(k) and see if you can free up as much margin as you can on a monthly basis. You also could look at a credit counseling program which would cancel the account doesn't factor into the credit score and would help you get the interest rates down so you could pay that debt off 80% faster. Our friends@christiancreditcounselors.org Don could give you all the information you need on what that option looks like. So I need to snowball yourself or use credit counseling but I start by taking a hard look at budget to do it for us folks moneywise live as a partnership between moneywise media. Thank you to my research team today are led by Robert Sutherland Rios engineering today in Anderson for producing and to say thank you. Tomorrow will see you use, I'm Jason Walker, a federal judge in Georgia are issuing a nationwide injunction against Pres. Biden vaccine mandate for federal contractors the latest blow against White House vaccine mandates come from southern Georgia District Court Judge Stan Baker. He voices concern. Biden's mandate would affect millions of workers in a variety of industries tangentially involved in government contracts, and thus he says vaccine will operate as a regulation of public health. Baker also note Supreme Court precedent establishes that quote Congress is expected to speak clearly when authorizing the exercise of powers of vast economic and political significance, but I can report Pearl Harbor survivors gathering at the side of the bombing to remember those killed in the attack. 80 years ago, some 30 survivors and 100 other


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