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Got Long Term Care Insurance?

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
January 11, 2022 5:15 pm

Got Long Term Care Insurance?

MoneyWise / Rob West and Steve Moore

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January 11, 2022 5:15 pm

They say you should always be nice to your kids, because one day they’ll choose your nursing home. Now, that’s an old joke—but there is some truth to it. On today's MoneyWise Live, host Rob West will explain that one way to keep more decision-making power about those matters in your hands is to have long term care insurance. Then he’ll take your questions on the financial topics you’d like to discuss. 

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You should always be nice to your kids because one will choose your nursing home Rob West okay. It's an old you there some truth to it. One way to keep more decision-making power in your hands is to have long-term care insurance about that first today that it's all your calls 800-525-7000 800-525-7000. This is moneywise live in agile decisions okay. The simple truth pile of money you will be limited to nursing facilities that accept Medicaid most of them do but they're not necessarily the best you're probably thinking, but long-term care insurance is so expensive and it does seem that way until you look at what assisted living care costs on average about $275 a day were more than $8000 a month.

Premiums vary widely depending upon your age, health status in the area you live according to the American Association for long-term care insurance. The average policy will cost around $2500 a year for a couple at age 55, that figure jumps almost $1000 a year. At the same couple purchases a policy at age 60, then it only goes up from there so that age range 55 to 60 is probably the best time to purchase a long-term care policy. It might be helpful to explain what long-term care is and isn't it it's insurance that covers your expenses of an illness, disability or impairment prevent you from performing everyday activities including bathing, dressing, eating and walking. If you can't do those things on your own.

You can't earn a livable salary or care for yourself. The older you are the more expensive long-term care insurance becomes now here is what long-term care insurance isn't it's not health insurance. It won't cover the treatment of an illness to improve your health.

It just pays for the care needed to maintain the quality and routine of your daily life. So long-term care insurance as a supplement designed to cover what health insurance, Medicare or Medicaid might not cover it doesn't replace health insurance, but that doesn't mean you're not getting a lot of bang for your buck. Long-term care insurance covers a long list of important services starting with adult daycare facilities.

These are activity centers for seniors that provide a certain amount of supervision with a minimal level of care they might have social workers and medical personnel on staff. It will also pay for home care services that help with things like cooking, cleaning and bathing. It also covers assisted living facilities for people who need help with daily activities but don't require nursing respite care is also covered. This provides family caregivers with intermittent breaks so they can maintain their own lives. It might include home-based care, adult daycare and short-term institutional care. Then of course there is nursing home care that provides help with everyday functions and medical care, long-term care policy may also cover stays in specialized nursing homes that provide care for diseases like Alzheimer's, but no matter what kind of care you might need insurers know it's cheaper to pay for it.

If you're able to stay in your own home, so policies will cover all modification costs for things like remodeling bathrooms for wheelchair accessibility and of course long-term care insurance will typically pay for hospice care.

When a policyholder is nearing the end of life by now you're probably wondering, shouldn't everyone get long-term care insurance. The answer is most but not all. Some people don't need it and some simply can't afford it.

Generally, if you've accumulated enough wealth to pay for long-term care without seriously depleting those assets. You don't need it but you're in a very small group and if you have very little in assets.

You probably can't afford it.

If you're in the middle where the vast majority of us are then you do need it without long-term care insurance.

You could easily burn through your life savings.

If you ever need an extended stay in one type of facility or another, but some of you may be thinking I don't need long-term care insurance because Medicaid will cover that care for free if I go into a nursing home, not exactly.

Medicaid is designed to cover long-term care for low income people. Only then that means you'll have to use up most of your assets, paying for care or Medicaid can extend so not really for you know that. Of course some people try to hide their assets and still qualify for Medicare about this is dishonest and Christian should do it. Proverbs 327 reads do not withhold good from those to whom it is due when it is in your power to do it well. I hope all of this is convinced you to start thinking seriously about getting long-term care insurance especially at age 55 and beyond your calls or next to 525-7000 Rob Weston will be right back. Moneywise is no longer with us today.

This is biblical wisdom for your financial decisions you wrestling with today as you think about your role as a steward or caretaker, perhaps a trustee of God's resources. What we want to reflect the master's wishes trustee manages the money according to the trust document. Well, we might think of that is the Bible God's word that gives us principles more than 2300 versus the deal with this topic of money and possessions.

More than half of Jesus parables. It was obviously on the heart of God and I believe that's because it's often at least in my view and experience the chief competitor to Lordship if something's going to derail God from his rightful place in first position in our lives.

That's most often going to be money in the things that money can buy. And so what if we bring our resources the Lord's resources that were managing under his Lordship and we follow his principles well money then becomes a tool to accomplish his purposes.

The question is what would he have us to do as we make daily decisions. What are they saying about what's most important to us as we spend to provide for our families and build relationships and enjoy what God has given us but do that with in his provision so we don't take on debt. In fact, living less so on. Less than you earn means you'll have margin so you can get more and follow the leading of the Lord so you can save so you can get out of debt and all of that leads to real financial freedom. Well, that's what rafter here on moneywise live let's do that together we got slides open today we'd love to hear from you with your questions. The number 800-525-7000 in just a moment will be talking to Karen in Michigan.

She's taking care of her dad and wants to know about helping him with his situation. Rhonda's in Somerville South Carolina wanted to talk about the stock market. In light of these interesting times, but were to begin today in Chicago know that thank you for your patience and for calling back today. How can we help you here at your advice I got about my financial jerk and possibly like to out every part of that I haven't thought about yet but currently I've been in chronic pain, prayer three years and finally ordered the correct MRI that year and they want to hear the third. I need a back to me and I need a micro to effectively and basically like. I do not like not all that I possibly can on the second bite of any family. I don't have like socially awkward having friend. I have no support right now I am not like the Chicago financial but there back and I haven't heard anything from them says that you're in a tight spot know I'm glad you called today. Let me just assure you that the Lord knows what you're going through and he's there, he's our perfect heavenly father that we all have in common, and his provision. Really, he won't delegate that responsibility to anyone else. And yet we have an opportunity when the body of Christ is a need is your expressing right now to come around one another. So I'm praying that the Lord will bring some people into your life that will help you in this difficult time. Let's talk about where you're at right now and some of the decisions you need to make moving forward and I'm so sorry to hear about your health status. Are you able to cover your bills. Apart from these medical needs. Based on the work that you have any expenses you have here and finally I decided that now to get engagement and I cut it off and now I got all the bell likely route and the fact that like it really hard to work with the nonattainment on an everyday I work every day. Right now I'm a housekeeper at a hospital.

Not able to go speak out alone because the job I'm working right now and if there like a gig at work at not permanent pollution to blame and I sure sure living in an apartment that you that you're renting and you're working these various gigs.

Would you be able to seek out full-time employment based on the skills that you have so you could be a W-2 employee and have some more consistent income that would be documented that you could use in the future when you're ready to buy something. So I turned behind I would be starting at the training at like 11 in our applet happened last month I worked at red lobster and not only did they not get our thinking like three weeks but they also are paying only $11 an hour for training and Not physically able to do right now like my back is like basically disabling me or Jeanette. Yes, let's talk about the medical issues you have so what expenses are you looking at here in the near term, but unfortunately I have Medicaid for they while they're working right now my third and working to get Medicaid to cover it. Like I hopefully can they Medicaid kind of annoying sometimes but yet basically it's at my living right now I'm I fellow $500 for this month and nine I would have to say February and March and hopefully I'm recovered by March, but I can start working again, which I think is hopeful and I think on it like to eight weeks on average recovery time so the real challenge in thrilled to hear that Medicaid is or should cover those medical expenses because we want you to get on the road to recovery here address the medical challenges you have the real dilemma though nobody is in the interim.

When you're not working you really don't have any reserves to fall back on is that which are most concerned about right now like February and March order to recover or otherwise yes third grade.

Now I don't have to weigh but that they had like everything a day that I have to work that like I am only 25 and I can barely even work like this. This I understand.

Let's do a couple of things here know number one. I will pray for you in just a moment asked the Lord to intervene miraculously when your health situation asked that he would provide for your needs.

Right now he knows your needs board and calling him to provide miraculously here in the situation financially want to do a couple things as well. I like to give you a gift of what we call career direct which is an assessment that perhaps could help you hone in on the intersection between your skills and your passions, how God has wired you and various job paths career paths that would exist out there today I realized depending upon your health of the Lord willing, on the other side of some of these procedures.

Maybe things will be much better, but I'd like for you to know where you're headed and perhaps get a sense of where the Lord may be leaving for full-time work and along with that assessment will be a career counselor that would come alongside you and help you interpret the information and get pointed in the right direction and so perhaps what you're feeling better. You'll have a better sense of where the Lord is leaving for your work, but also lost a lot like testimony wise community you've heard know the story today if you'd like to help in this interim, we'd love to facilitate that our team is able to look into each of these situations assess the need and then respond with whatever assistance you might provide you like to help just email can make that happen. Line it will write back with us today and minimize wisdom for your financial decision will I was able to pray with nova off the year. What a delightful young lady was able to remind her that God created her own purpose and for a purpose in working to connect her with a career counselor get if you'd like to be helpful to her financially in this really difficult time. She's facing these real medical challenges.

Just email us One of the things we do as a ministry is something called helping hands were periodically is the Lord places individuals were on the program on the hearts of our listeners.

Our team is able to vet those needs to make sure their real and then help to provide assistance that you provide. By connecting those financial resources to our callers and unique situation. So, we'd like to do that for nova as your letter.

Just email us only got one line open today were to have right back to the phones. If you'd like to take that last line with your question today 800-525-7000 Rhonda's in Somerville, South Carolina Rhonda, thank you for calling I can help you all I unfortunately fortunately coming to inheritance and now I'm to the point now that investing that kind of a little gun shy with you the volatility of the stock market knows, so just cannot need a little bit of advice so talk to you said you had inheritance. Would you mind sharing how much you received it was it was over 500,000 okay and that's all in cash right now, or money market. Yes okay and do you have an investment professional that you work with. Yes, I had started. Yes, I started an IRA and then also a Roth account okay. All right. But those obviously you'll only be able to put in a very small amount. Did you write receive this as an inherited IRA or is it really just in the taxable account at this point it's in a savings account at this point just to save his guess okay very good and you said you open an IRA to Roth but do you have a trusted investment advisor that you worked with in the past is handled or managed investments for you.IRA in the raw. I have not delve into the I guess that my concern is the risk of the amount of money and wanting to honor my parent and that you leading me that amount of money and staff.

I just I don't want to. I just don't want to miss it completely well in in your you're making by placing the skull that tells me Rhonda you want to be a good steward of this I hear you, that you want to honor your mom and dad. You're now the steward. They've entrusted this to you and so seeking wise counsel following biblical wisdom in managing this I think is key. So I think the first step before you do anything is to determine how you want to allocate this money according to your priorities that you've prayed through and that God has led you to. I would suggest perhaps if you don't have an emergency fund. This would be a great time to sure that up. If you have any debt.

This would be a time to consider paying that off. Certainly consumer debt credit cards and cars, but even accelerating the payment of your house would be one option.

Looking at any short or medium term goals that you might want to set a portion aside for including giving being generous and giving to things that are on your heart that your mom and dad would've love for you to support but then beyond that with anything that's left over.

That's long-term in nature and I would define that Rhonda as money that has a time horizon of more than 10 years. I think being able to begin to move that into the market. Even given some of the challenges we have ahead and we do have some you know where an interesting time right now where the Federal Reserve has been propping our economy up for a long time by expanding their balance sheet and buying assets and that's flooded the markets with cash, which has led to rising stock prices. Now we have a very strong economy. We have a very strong consumer and corporate earnings have been phenomenal. But given the fact that the Fed has said very clearly that there to be pulling back their investments and our purchases. Given the fact that interest rates we know are going up. Given the fact this market is probably ahead of itself a bit. We could see a downward trend over the next couple of years we could have a was called a correction of 10%, even 20%. So I would want you to know that going into it. But here's the thing, as long as you are moving into the market systematically your properly diversified.

And here's the key you a long time horizon so you're thinking 10+ years.

I think it's still prudent given the challenges that we may find ourselves seeing in the next couple years to think about investing this money again. According to your goals and objectives and with the proper investments that match your time horizon.

Your age and your risk tolerance, because given the inflation were experiencing right now you're to be losing purchasing power on this money every month by not investing it in assets that have the potential to grow. But the key is you have to understand that for any portion that you invest again, you could see a downward leg here in the next year or two. And you'd have to be willing to say that's okay. I've got a long time horizon.

If the market were to roll over and move into a downward cycle. It will eventually come back and move to higher ground and I would be investing with that in mind, and for that reason Rhonda. I would also say that it would be really important for you to find an investment professional that you could work with. I'd interviewed two or three. Find the one that's the best fit for you with the right experience in the right no communication that will match what you're looking for and can really understand your goals and objectives of what you're trying to accomplish with this money that your mom and dad have left you, and that can really then take and make the buying and selling decisions of the investment portfolio.

In light of all of that and then you move forward from there. But I've thrown a lot out you give me your quick thoughts here.

Well, I everything paid off my house and I don't have any debt debt. That's why I feel I get a little more comfortable and taking the plunge.

Yes, what I'm hearing that probably needs to be. I need to do something that I don't do all that I want to at least get started with something and knows that there will be some up-and-down overall a 10 year projection should overhaul the on the positive thought you said that very well certified kingdom advisor in your area would be best just put in your ZIP Code when you click find this interview to the right back with us today with great questions wind up taking those in just a moment I first say want to thank those of you this ministry money was media at year end. It was an incredible blessing, but there's still an opportunity. This is the listener supported ministry. Everything we do this daily broadcaster moneywise coaches certified kingdom advisors. The money website. It's all as a result of your generous support. So if you're part of the moneywise family you'd like to support this ministry.

We'd love to hear from you.

You can give quickly and easily online. When you visit moneywise just click the donate button.

You also find a toll-free number. If you'd like to give over the phone or if you'd like to mail in a physical gift. You can do that. There is well just hit moneywise and click the donate button and think you in advance.

Back to the phones today. Michigan is where Karen's located Karen how can help you out, my daddy just turned 90 and that he didn't have any help. Plaintiff long-term care insurance or anything like that belt and taking care of them for Matt Foreman, the veteran and meet the requirements to receive when a program called aid in attending.

Think about it like $2000 a month and get either taking care of him like myself, or you can put it toward a felony.

Now I'm wondering currently. I think it going to be staying with me only, and I have questions about maybe catching or when I be like an independent contractor and how what I yeah well yeah I would check with a tax professional on this just because there's so many nuances here. Number one. Can you claim your dad is a dependent number two just looking at whether you know you are an independent caregiver me that's used to describe the home care professional who doesn't work for an agency.

You know who's paid more than $2100 a year, but as a family member. Things are a bit different and so you want to make sure is you're getting all the set up.

You do it right you understand the implications of it, and what you can do to not only potentially claim your dad is a dependent, but caregiver deductions that would be available as you are providing care. There is a family caregiver tax exemption and you can deduct certain care expenses.

Depending upon the percentage they are of your annual taxable income in the income the team he's receiving so there's just a number of factors here that I think you know will vary depending upon your situation. Do you normally prepare your own taxes.

Karen like four years ago we had Lenny do it for I okay so this is a great opportunity for you to talk to that individual about what's going on here just to get you set up understand how all of this should work.

So your handling of property. Take properly make taking full advantage of anything you have that would reduce your taxes a result of the expenses you're incurring, but also the income that you're receiving as well, given that your dad was living with you.

Your caring for him and he has the sources of income coming in. So I would be hesitant to give you specific advice over the radio, but I think that this would be something that your tax professional can advise you on very clearly grateful for what you're doing to honor your dad in the season of life. This is on the Lord's heart. Clearly we read in Scripture and I know he's honored by what you doing so. Thank you for sharing your story and I would get some professional counsel is you moving forward.

God bless you. Longview Texas is where David is David how can help user my call.

I thinking about getting a loan to take some equity out of my house. Since interest rates are low. I thought of investing it to get another couple percent above what I would owe on the mortgage.

It took the money out of and think about taking about 60% out. The house is paid for, but it my 74. I just wondered what you thought about doing something like that.

Yeah David, I appreciate the question. You know I'm not a big sin of this approach and the reason is number 174. You would typically have a fairly conservative investment strategy so it would be challenging to with that strategy overcome even a low interest rate mortgage after taxes because it will all be invested taxable number two, you're giving up the flexibility that comes from being completely out of debt. You're completely unencumbered, and I think there's just a lot of peace of mind that comes from that number three I think were potentially in for really rocky stock market here over the next couple years can be quite volatile. Now if you're in it for the long term.

It's the place to be with long-term money.

Don't get me wrong I'm not saying Teresa get out of the stock market, but we could see a pretty major correction here just given with the feds about to do given the interest rates rising, given the fact that no corporate earnings have a tall hill to climb to keep up with where they've been, not to mention the fact that we got inflation on the scene and so if we were to see your 20% down leg in the market here in the next year or two.

You know you might be really questioning the wisdom of pull this money out you get your statement.

One quarter and it's down 20% or more which could be very possible if we get into a real sharp, short term correction. Now if you knew that going in and you said well I'm ready for that. And because this is long-term money. I can wait it out, that I would say yeah it would recover over time, but I think just given all of that, the conservative nature of an investment strategy at your age and stage the potential challenges we have ahead and what you're giving up by taking the home that's paid for pulling the equity out for the purposes of investing. It's just not know strategy. I would be really excited about but give your thoughts well and prayed about it. I'm sort of on on the finish what you say makes a lot of sense.

And so that's, what I think about yeah okay well you know I think ultimately it's between you and the Lord. David, you're the steward and so I would continue praying about to have a real piece of this was confirmation of something Yorty sensing great because I'd I do feel pretty strongly about it, but at the end of the day. I would never presume to tell you what to do giving you my counsel, and ultimately, I think it's between you and the Lord so you take that and continue to pray through it. I will ask the Lord to give you some real wisdom hears you make the final decision but that's my best advice today and I do appreciate with sincerity you checking in with us in raising this question. It's a good one. God bless you Linda's in Florida been patiently waiting Linda how can help you today. I need more option now for investing my neighbor said that I think my every year and put it in my Roth IRA. I got my children don't have to pay taxes on that money. I didn't even know that that was a possibility I wanted to know like he thought about. Yeah, you certainly could do that.

I think that something you want to talk through is a part of a larger state plan, but the idea is sound because you're right is an inherited IRA, which is what this 401(k) will money would be when it's passed on. They will pay taxes on it as they pull it out. Where is the bugle and pay the tax. Now it's in the wrong others benefits that clearly you would want to do that over time so you don't amount to much of the way of taxes. So I talked to your CPA about that but I don't think that is said given proper. This will be right back with us today. Going back to the gist of what we have an opportunity to hear from our good friend Bob Dalton, chief investment officer Trustmark investments.

Bob joins us each week to share his market commentary and Bob last week yeah you were with us give us the highlights of some of your 10 predictions for the year. I know you've already released them publicly. So is there anything you might want to drill down on specifically as to what you're expecting the equity market are our equity prediction will have the first 10% correction since the pandemic more volatility and returns for the year will disappoint the bulls. I don't think were going to have year. This is good is earnings are good as economy is good with valuations that we struggle with with the Fed soon to raise rates with interest rates moving up out the curve. We just think valuation level P/E ratios have a little bit of a challenge so bearish Rob but we volatile trading frustrating year you said you know that historically days, at least in the last couple of decades and when the market sees what say a 20% down leg there rushing in and buying assets through quantitative easing, lowering interest rates with inflation where it is now are they going to be hard-pressed to follow suit. If we were to see that type of correction they would rob America relation that were transitory for way too long. Finally gave up on recognizing inflation of the system is not going to go away all that easy to try to fight or try to catch up there behind the curve, as it were, and they've accelerated the pace at which the going to taper their fixed income purchases and you know if we have this conversation. We did, will go back to Labor Day will fit raise rates in 2022. Maybe, maybe not. Now it's a raisin 234 times the change and inflation is the reason Rob got a get that out of the system. So what does that mean that if they said is not able to come to the rescue of the financial markets in the same way they have in the past are we going to see a market that has increase volatility and a larger possibility for major declines. Given that they can't quote include prop it up so I think they will adjust raising rates if we were to come into that kind of.

When we think economy and earnings are strong enough, but it's unlikely we get a massive drop that lasts a long period of time.

Could we get a snack like we like. We saw the first part of the year when updated day, thank goodness, but you know it's been pretty painful year to date prior to today. We could have more of that sort of thing, but the title of our weekly commentary.

This week was something like we need good earnings for the first quote for the fourth quarter which were about to release make up for the headwinds of this valuation problem. Yes, the rest of the world are the economies of the world doing and seeing similar things to what we are with regard to inflation and their equivalent of their Federal Reserve. Their central bank around the world.

We are in fact dozens of central banks of already begun tightening process to raising rates process ahead of the Fed because nursing inflation as well. The good news for the US is our economic growth so far is better than most other places. So what were for a good spot very good stop put comments on just what you're seeing happening in the faith-based investing space there is you lead the team from an investment standpoint across marks. Tell me what you're encouraged by. I'm encouraged by the fact that multiple financial dividers and the ultimate client are asking the questions.

That is to say, maybe I really ought to line up my investments with my values and my belief system and when they do that immediately. They need to know how do I do that and that's where firms like ours step in and say this is what we do for living. Let's see if we can help. So the curiosity factor is increasing and that will lead. We think good results very good. Stop grateful for you stopping by today. Folks if you want to read Bob's predictions get signed up for his weekly investment commentary and learn about the funds that he manages this across more bubble talking next week. Great accomplishment for an 800-525-7000 back to the phones until he owes in Chicago and totally understand you're looking for a car for your daughter Karen had my call shirt so I'm not sure if I should buy another car or leave the car that I'm looking at about 2015, all all-wheel-drive reliable car about 15,000 now.

The car prices have gone up yes and so no working out maybe 17,000 versus fight. You know there's a leak in options that are at $200 a month so three years or $200 and I think they want a down payment of about like $4800. So that's about $12,000. So internally it because if I were to resell the car or look at the value in the car resell value in three years from now.

On the one that I'm buying them 2015, then no, I don't know what to get that A $5000 which would be about the same if I would've five 117 50,000 versus one $12,000 and I'm not sure what else I'm missing on the leasing option in the way that this is sure well the end of the day, and I appreciate the question you leasing is typically gonna cost you more then buying a car outright. If you specially if you buy a car that's a few years old were you missed the bulk of the depreciation, your depreciation happens most quickly in the first couple years and if you buy a good quality late-model used car and then drive it till the wheels fall off is Howard Dayton for roast. This program always said no that's going to be the most cost-effective way. Were you can come in and buy something just drive it for a long long time. If you maintain it properly and it's been maintained before you buy.

You should be able to drive a car for 200,000 miles or more of the challenge with leasing cars is you got mileage restrictions. Your potential for extra fees, early termination, while overages there's a range of other unexpected costs in the fine print, you might need additional insurance and then you gotta get a new car at the end of the term or buy it outright.

Whereas you have the opportunity with this new or used car to just come in and buy something you would just keep for a long long time. So I think you I would rather see you buy it. I think it's good to be a better longer-term purchase for you and I think it's a great opportunity for a starter car for your daughter, as opposed to something that's brand-new that perhaps get her gets her into a cycle of thinking that's just the way we buy cars. She always need something new. Even though I'd love for there to be great safety features, but the good news is that if you bind something to her three years old. You're going to have all the safety features you need, but where again, you can miss some of the depreciation, and certainly some of the fees that would be associated with a new car lease. Does that make sense what I'm out what little like keeping it afterwards and I should have a mother with 230,000 mile there you go.

I think that would be the same approach year and it may not be exactly what she'd love to hear of costing a little bit less in the long run. So listen all the best he had tell you thanks for listening and checking in with us today. God bless you, Columbus, Ohio's were crystal is crystal. How can I help you bring me my right and returning dry and vacation work on writing I have really high. I only think that all okay.

So you're talking specifically about how to budget. Given the limited resources you have or something else on yeah very good. Well the first thing to understand is how it all begins with being able to live within your means and I realize being on disability.

There's limited funds there and so that's gonna be tight and that's not easy and I want to pretend that it is. And yet we've got to live within God's provision or else that's going to end up leading to death which leads to stress and just all the other things that come with being in that situation so I think it's got to start with. First of all, recognizing every doll that comes and belongs to the Lord. We are stewards of it and then we need a plan and I love the idea that you're saying listen I want to be able to enjoy what God's given us. I love to be able to take a vacation every now and then I want to be able to do some things to build memories with my kids. And yet I've got limited means. And so that means all the more reason that we need a budget.

We need a plan that says here's something to take what's coming in and allocated which means we want to sacrifice in the short term, we want to live as modestly as we can look for ways to cut back to we need that cable TV. What else can we do to lower insurance premiums. What about food costs and how much are we feeding out of what we do with the cut so that we can in our plan ahead and allocate a portion every month to that vacation to that in opportunity to celebrate and go out once a month in your whatever it is that the budget will allow. And just enjoy God's provision and enjoy time together as a family we sacrifice in the short term so we can experience what we want and what God is leading us to in the longer term. Remember, the longer-term the perspective the better the financial decision. Today it's knocking to be easy, but if you do it with a plan under the provision of leading of the Lord. Following his principles. I'm confident you will be able to do it the way she wants to give you a six month subscription to the moneywise apps. If you hold the line that could help you get that budget set up and manage it month-to-month.

Appreciate your call today for us today. Folks moneywise live is a partnership between radio moneywise media. Thank you Robert Sutherland on research today. Mr. David Anderson are engineer harmonies and producer any real estate as well.

Look forward to having you come back tomorrow as we explore God's true financial decisions moneywise live

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