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5 Ways to Lose Money

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
December 28, 2021 5:05 pm

5 Ways to Lose Money

MoneyWise / Rob West and Steve Moore

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December 28, 2021 5:05 pm

We all make mistakes and learning from them is a valuable skill.  But learning from other people’s mistakes—well, that can be priceless, especially when those errors involve money. On today's MoneyWise Live, host Rob West will go over several mistakes that can cause you to lose money if you’re not careful. Then he’ll take some calls on various financial topics. 

See omnystudio.com/listener for privacy information.

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Today's version moneywise. Life is short phone lines or not we all make mistakes and learning from them is a valuable skill learning from other people's mistakes. Well, that's priceless. Rob West. That's especially true with eggs involving money. The world is full of weight you can lose it if you're not careful, over several of those mistakes today so you don't have to make them yourself. Then we have some great calls lined up but please don't call him today because we're pretty report this is moneywise.

Life wisdom meets today's financial decision.

Okay as money is a great example of biblical wisdom running smack dab into a financial decision and that would be cosigning for someone else on the loan. Studies show that in the majority of cases the cosigner ends up having to pay off the loan. Proverbs 22 is clear, be not one of those who gives pledges who puts up security for debts. If you have nothing with which to pay. Why should your bed be taken from under you know parents are often tempted to cosign for their children, or maybe another family member. But the Bible is clear that we shouldn't do it instead look for other options like helping with the down payment or lending the money yourself, even providing it as a gift to our next way though to lose money is something we're likely to hear more about in the coming days as interest rates rise and that's taking out an adjustable rate mortgage or are these seem to make sense when interest rates are low, but when they begin to rise, so do your monthly mortgage payments. You can get a great low introductory interest rate with most arms, but after that you're just gambling that interest rates will stay low.

It's always better to go with a fixed rate mortgage for the shortest term you can afford. That means you get a lower interest rate on a 15 year mortgage than say a 30 year loan. By the way, if for some reason you have to take equity out of your home, maybe for repairs the same philosophy.

Philosophy applies there as well. You want to take out a fixed rate home equity loan not a home-equity line of credit or HELOC, which almost always has a variable interest rate right here is 1 More Way to lose money and it's taking on consumer debt that you are borrowing for a home business or even education may make economic sense. The return promises to be greater than the cost, but that's definitely not the case with credit cards, auto loans and other forms of consumer debt. Now granted, you may have to borrow money for a car, but since it's a depreciating asset.

You always want to be saving for your next car purchase so that eventually you can pay cash and not borrow it all, whether you buy new or used. But while there. Some may be some return on other types of loans there's no return at all on the credit card debt.

When you run up the balance you pay interest on it at an average rate of listen to this 16% or more. It's just money down the drain you ever wonder why credit card issuers are so quick to give you that one or 2% in the form of reward for using their card wells because they know they'll make it back 10 times over. If you start carrying a balance, so if you want to stop losing money on credit card interest, you've gotta get on a budget living on less than you make saving up that emergency fund. We talk often about here so you don't need those cards and by the way, you can connect with one of our volunteer coaches@moneywiselive.org just click connect with the coach okay our next way to lose money is by making risky investment decisions buying crypto currencies is all the rage these days and no doubt some people have made a lot of money on them, but others have lost just as much, often by the time you hear about a fantastic investment in some crypto currency. It's Artie peaked in value and on its way down. Proverbs 21 five tells us that slow and steady plodding brings prospect prosperity that hasty decisions brings poverty instead of looking to make quick money to invest long-term with a properly diversified portfolio and avoid the fads. Okay Deborah 1 More Way to lose money and it's a big one that you may not have thought of its losing your job, you know lots of people lost all or part of their income during the covert shutdowns and while for many people.

That was unavoidable. There are some things you can do to give yourself more job security committing to do excellent work on the job, asking for more responsibility looking for ways to improve the company's bottom line. Even taking classes to increase your skill set. Your job is a blessing from God. Just like everything else you provide so I want you to be grateful for and never take it for granted rights of those are five easy ways to live. :-) I hope you can learn from other people's mistakes and not make them yourself to pause for a brief break back with much more stable delighted to join us today.

I moneywise live for God's word intersects with your financial life decisions you make on a daily basis around spending lifestyle much to give the right amount to save how much is enough for the future. What about communicating about money with your spouse in developing a vision for how your spending plan can actually support your values, that which is most important.

Remember money is a tool to accomplish God's purposes, and it tells a story about what we value you know the way we spend money in the late Larry Burket used to say is the clearest indicator and what's going on in our lives spiritually. What's most important to us and does our money the way we spend it or handle it doesn't reflect what's truly most valuable to us and if not, what changes do we need to make to perhaps simplify her lifestyle to increase her giving to pay off debt to be free to respond to the Holy Spirit as he leads. That's what it's all about. And here's the thing folks that leads to greater intimacy with the father because as I read the Scriptures. One of the primary obstacles to Lordship in our life is the money and the things money can buy. And the question is are we managing God's money, according to his principles.

Verse 2350 versus the deal with this topic.

We want to mind those scriptures and help you navigate your financial journey so you can handle money faithfully were to begin today in Randolph, Vermont, listening to the light is Janet how can I help you hello my call Mike about financial data. When you sow property I married my hat. Then in 1995 unfortunately passed away years ago. I'm getting ready now to sell the house now. He broke it in 1979. I have no idea how much money you put into it to build it but I think your capital gains. Yes, so is this home in your name. Now Janet yeah okay and you live thereto out of the last five years, correct yeah yeah okay so you have the ability to miss out on or exclude the first 250,000 in gains because it your primary residence that you own that you've lived in two out of the last five years. That's not the selling price 250,000. That's the game.

Above your basis.

So to determine that you would involve your CPA, but just the general idea here is that you would add the original cost of the home plus any qualified improvements you've made that would generally be additions and upgrades not routine maintenance and that then number would be subtracted from the selling price to determine what game is there.

So let's say you sold it for 300,000 and the cost basis plus the fixed and other improvements that stay with the property. I would say that was another hundred thousand yeah, you'd have been the difference between the selling price and the original purchase price plus those improvements would be your gain. And if that's less than 250,000 and there would be no capital gains due on that. If it's more than you would pay the capital gains rates, which would be long-term. Probably 15%. So tell me what your thoughts are there in terms what you expect to sell it for. If you have any idea what your cost basis might be my problem.

I have no idea how much might have an outside outlet to build a house he and his brother belted in 1979 I don't know. I built a house in 1972 of them I think they started out with $36,000 mortgage that I have no idea where he and how would I find that you were going to need to probably go back through the original records whatever you have.

You know if that can't be determined. Then I think of them and obviously there's the cost for the land and that would be a part of the public record what you want to try to nail down is the improvements that were made for the original construction then any improvements that stay with the property that increase the value throughout the time that he held it and and then that's ultimately going to be your cost basis.

If that documentation is not available. You can't determine that that's going to get more difficult. At that point you need to really look to have a some counsel from a CPA who can help you determine what that number could be that you could justify before the IRS. Based on your construction cost at the time that it was built that type of thing. So I think you need to do some homework to see what records exist beyond what's in the public record and then the visit with CPA or accountant that can help you nail this down.

The good news is, you should have quite a bit of gain that you would not pay any capital gains tax on because this is your primary residence, what you expect to sell it for you have any idea what I would more than 300,000 up to 400,000 okay right so if we know that you can have a minimum of $250,000 in gain without paying any capital gains tax. You arguably because how long ago it was built, there could be some but it's not gonna be a whole lot so that's the good news is, you should be able to take the vast majority of the proceeds of the sale and take that to purchase your next property so I would do if you don't have a CPA or account I go and schedule a visit with one who can help you determine exactly what that number would be that you would put before the IRS and that will help you determine whether there's any tax due at all or not which there may not be depending upon what that original cost basis was, I appreciate your call today and will be praying that the Lord will give you some real clarity around what's next for you as you sell and move to where he might be leaving you and we appreciate you checking in with us today to go next to Miami, Florida. Jonathan is calling. How can I help user so my question is how the market is now in Miami kind of been struggling to figure out whether I should buy or not and if it's realistic by the amount house I can afford. I just got married, probably a very comfortable here and then I'll just work out tired of renting. So, wondering whether we should buy market yeah well clearly it's a challenging market. You know we've got a severe lack of inventory. The latest numbers I saw would where they attended lack of inventory could be as much as 6 million homes were short nationwide based on the real demand that exists out there. So you got that really driven largely by the coded shutdowns. The fact that so many people are looking to move into single-family homes. Perhaps where they had been living in small apartments downtown.

Another working remotely. You've got the millennial's that are now reaching the age where they're buying single-family homes because they're adding to their families as they have children and they need more space built on top of all of that, you've got incredibly low interest rates. Now there certain pockets of the country that have been impacted even more significantly with this incredible run-up in housing prices and clearly you're in one of them. Jonathan there in Miami Florida because there's no state income tax. We got a lot of folks leaving northern states and coming from out West that are cash buyers and they are enjoying the lower taxes there in Florida which is pushing the real estate up. Not to mention the other beach and all the water that's there so guilt many folks think that this housing market is going to level off, perhaps even dip slightly. I don't think were in a bubble situation like we were in a way to know nine with entirely different issues than we have going on here today, which is really just supply and demand, that what's going on right this ship. Well, there's a lot of professionals in the space saying that they expect the inventory will actually increase over the next year that between six and 12 months from now will have more homes available which should cause the housing market to cool off a bit. The question would be, you will you see much in the way of it dip there in Miami. If you could hold off six months or year I don't think that would be a bad idea but as long as you're willing to stay for 10 years, meaning you can buy something that you think would you could stick with for 10 years and you can lock in a really low interest rate you have 20% down, which is really the minimum that I'd like for you to have and the resulting mortgage payment for the 80% you would borrow would be less than 25% of your take-home pay for your family, including principal, interest, taxes and insurance then I'd be okay with you proceeding even though you're buying into a very red hot market right now but if you don't think you can stay that long or you don't have that down payment or that that mortgage payments can push you beyond that 25% in your struggle to balance the budget. I think perhaps it might be a signal, you need to hold off but your thoughts on that and calculate exactly how much we can order at that rate in obviously unrealistic know how that caught at the moment so struggle. I guess that figure out what I can completely understand and I think you know that's the real challenge and so often works it causes us to want to stretch so we can buy a home in this market, especially in a place like Fort Lauderdale or Miami because housing prices are so high, we want to come to get the ends we get out of the renting game which by the way rents are very high right now to his. I know you're probably experiencing, so I just save as much as you can and really dial into that budget and make sure that you don't to respond emotionally in terms of making that final decision. Make sure you make the decision that's right for you that fits the budget that you can feel good about a year from now, in two years from now it doesn't really what you in a bind financially as you try to move forward and I know it's a challenging time.

So I'd make a matter of prayer asked the Lord to show you exactly the right place for you and your wife and your family. We appreciate your call today. You are listening to moneywise live with Rob West.

Today's broadcast is prerecorded and that means were not taking any calls but we got some calls lined up and great information coming your way that we think you'll find helpful. So stick around for more moneywise live after this brief listing to an encore presentation of moneywise, I can find out more information about the topics we talking about when you visit our website moneywise. I God ward. Today's program is prerecorded, so keep that in mind what we think the upcoming information will help you and make you a wise steward of what God is.

So please stay tuned. Let's go right back to the phones in Indiana is Vicki Hickey how can I assist you in that way. Now I'm able to get clarity. Bell paid heavily about $20,000 what you look at, or if it okay to stay in my checking account. Do you have any other, perhaps medium-term goals and instantly just throw out a couple of ideas.

One is are you looking to increase your giving another would be. Is there any you know purchases on the horizon. Do you need to replace a car at some point where we want to try to say specifically for that, or is it really just you're in a position where your debt free in your expenses are covered so this is really just surplus that you want to continue to build for the future so that if something down the road came unexpectedly or you needed some long-term care at some point or you had major medical expenses. You just want this to be available talk to me about kind of the priorities that you have moving forward like to build my future working I'm doing fine but if I get retired I like.

I would be able to live where I'm living now I have to go to a lower income type property Titus I'm trying to build up and fading that way also.

Besides my 401(k) and my other question I am free except I did just have to buy a car last year because mine died and I have about maybe $2500 in car payments that are taken after couple years I'll typically thousand dollars.

I didn't know if I should pay that off with some of their plan.

Right now I'm making double payment. I'm just trying to get it done in half time and I don't know really what is that thing okay yeah I like the idea of you prioritizing that because keep in mind is that this money has a time horizon that you think you might need in less than 10 years working want to be pretty conservative with it and when we get to that point, given where the stock market is come from over the last dozen years and the prospects of the stock market's growth over the next I would say five years probably being somewhat less than what it's been the last several years. We are expecting modest growth in the market and we could have some bumps along the way just because of some of the headwinds we have out there right now. I think you would be wise to go ahead and really prioritize paying off his car loan because your return is guaranteed equivalent to the interest rate you're paying. The other benefit to Vicki is that you are going to remove this from your budget which is gonna give you more surplus. Once that's paid off because you don't have a car payment anymore. At that point I would continue to to put money away. I think though after you get to you, perhaps six months of expenses, maybe even up to a year at the most that I think there's an opportunity to perhaps put this to work for you still in a very conservative basis and with a very unit with a small amount of money that's building you could look at the one of the Robo advisors where by the questions and answers. You will provide would build a very low cost, diversified portfolio with a good mix of stocks and bonds. I think that would be a great solution for you, but I prioritize the car first of the place to look for that Robo advisor would be either better mentor Schwab intelligent portfolios or maybe the Vanguard advisor. Once you pay off the car, those could be great solutions for you, get low cost lots of diversification you're gonna capture the broad moves of the market with a properly diversified portfolio. We appreciate your call today. Thanks for checking in with us much more to come on moneywise lively have a number of subjects to cover wonderful calls all lined up in advance. This is a reminder that were not alive today, but we do have lots of great information coming up to the rest of the program. So please stick around and it's great to have you with us on moneywise live today but unfortunately today were not alive prerecorded and therefore won't be taking your calls. However, we've lined up some calls in advance that we think you'll find helpful. So stay tuned and enjoy the rest of the program. Let's go back to the phone, Chicago, Illinois, Melanie, how can I assist airport go off my mortgage. Oh well, that's incredible ally moneywise and think I said bankers were congratulating me-I think it's often appealing thing is clear that somewhere got the word I want to pay off my mortgage I am debt-free and so did you actually walk in and pay it off or did you do that a line how does that work now. I like Dan I would follow the bank last night and again at half and I printed it out and had a chat and walked right late to plan. I said to eat it going to spend money on frame, the receipt I'm sure you do not tell me what you plan to do with this money now that you got some margin. Not sure yet. I have six months I put aside our filing cannot run and so I haven't decided yet.

I actually I collect my accountant and then I got my financial planner and told now have enough unemployment with a financial planner next week will talk so good to hear that.

Well that's that's the right thing to do as you think about where you go from here is think about how you can align your values and your priorities with how you use God's money. From this point forward and getting some wise counsel in making that decision. I think is really really important.

So I appreciate you sharing that praise report that's so exciting. I know you're going to sleep well tonight as you make about the freedom of being unencumbered.

Moving forward, and were so delighted for you Melanie thank you for your call today.

God bless you bye-bye so exciting. You know, folks. That's what it's all about you can hear it in Melanie's voice, the joy, the freedom that comes from being unencumbered, being able to respond to the leading of the Lord and being completely debt-free and I know will offer some of you.

You may be thinking I'm never to get there. How my going to do that. And yet I think it's so critical for us to really just do the next best thing and think about what can I do to limit my lifestyle and free up margin so that I can apply more to debt reduction.

Whether it's credit cards or auto loans or maybe a mortgage is well so that can be your story down the road let's all work together to make it happen, Melanie, so excited for you aren't heading to Chicago, Illinois Ernest, thank you for your call today. How can help you okay will take that to go right ahead and I love how are you doing I'm doing great.

I appreciate your call to my mom did. I wall all but $80,000. Not But it all. I will what do you think good my mom paid. I'm okay alright so you have two homes and tell me what the first home is worth.

You'll have okay both of them together on one wanted that we wanted. Okay so first is worth about 580,000. Is that right: but I will but 80 and not you will about 280. So you got about 300,000 in equity. Yet it did okay and what's the second home worth you think Modano wanted what it bogs all people to think okay Were 260, and what you owe on that one little zero okay and so you're wondering if you should pay off or skews me sell the half duplex to pay off the first is that right going okay and are you renting out the half duplex right and are you bringing anything in after the mortgage is paid, though there is no mortgage so all of that is going on that's coming in a minute but I got caught by which I paid I paid a mortgage on dot on the okay very good and tell me you are you looking to get out of that in terms of your landlord right now. Are you looking to simplify your financial life so you're no longer landlord having to manage that. Or secondly, do you have a conviction around being debt-free. Would either of those be true that we do not know hereby how I see okay so I think the key here is you know if you really have a conviction about being debt-free. This is a great real estate market to sell it because property values are very high. If you're in Florida there even higher than other parts of the country and so I think you've got an opportunity here to liquidate this property does half duplex take that money pay off that home mortgage and then you could start saving and sucking that money away that you are currently putting toward the other mortgage that you no longer have and I think at that point the key is if you could be saving diligently and then when the housing market perhaps takes adept because it's red hot right now is no question about that, then you'd have an opportunity down the road to perhaps by another property, but do that you maybe even with cash as you continue to save up but in the meantime you'd be unencumbered, and know that you have the freedom and flexibility that comes with that. Does that make sense Yet my life that make all we find it yes okay well it makes it makes a lot of sense to me, and I think you know if that's your goal is to be debt-free, then I think you should go for it and don't look back. And then you again take that money and continue to build it up so perhaps you could buy something else down the road. Just make sure on that sale you put aside anything you need for capital gains so that you accounted for that to along the way, Ernest. I got bless you.

We appreciate your call today.

Thanks for checking in with us well you know this is some folks as we talk about managing God's money. It's always about the priority use of these resources we have limited resources.

The question is where's the best place to put that money is it toward additional giving is a toward saving for the future is a toward investing for the long haul. What is it and that's the key got to evaluate data and look at it and then prayerfully consider how God would move us forward. That's were trying to do is to understand God's heart as it relates to our money here on this program will do more of that just around the corner.

Here's the phone number 800-525-7000 would love to hear from you. 800-525-7000 much more to come on moneywise live by the way, we'd love for you to consider a gift to the ministry. You can do that moneywise will I.org just click the donate and we would certainly be grateful we can do only because of much more moneywise live. Thanks for joining us today on moneywise as manager, along with us. Let's go right back to the phones. Diane is next on the program in Idaho. How can help hi, I just only home 300,000 barrels and turns, I got maybe 272 and savings and I been advised by a couple people to do mutual funds to invest in. I talked to my financial advisor, it might be and he said there's really low risk and he would like to take 100,000 that and put into the mutual funds and I think I would be getting well 4%.

He would take 1%, and that percentage fluctuates on the interest on I'm a little leery with the way things are going right now doing at my heart just that I'm in my 70s. And yes, I'm on Social Security and I'm going to. I may have a couple hundred dollars to $300/after and K may expenses you know my rent, utilities and staff. If cats sign going to probably be leaving a little bit off of the equity of my home and I just kind of something tells me to do it in something bigger tells me not to yes well I can certainly appreciate that and you know the good news is you have these resources.

The question is how do we manage them wisely to cover your lifestyle, and I realize you're living modestly on a fixed income and so you want to stretch those dollars as well as you can. My first question Diana is your housing situation.

How are you can be renting that you move in with family where where you can be living. I and my rent will be right now and Mexico centers 840 that's me with a nice apartment at eight Fremont okay yeah very good. I'm not there at the utilities and an outlet sure. So now that you got the budget in place. Tell me about that you said you're going be short about two or 300 a month. Is that right well I might just break even with my expenses and I me click 1447 right at 37 I'm not sucking security all right and so you said after you paid off your debts what you have available now after the sale of the home. I think I have about 272 in savings and if you thousand and my checking to get into my rent. Nine this I'm in between moving out of my home couple days ago and getting into my apartment@paying for a motel that we resolved all it is very expensive as it enters place in your day. Well I just here's the good news is you've got this money to fall back on and you know if you just put 100,000 in the market meaning in a properly diversified portfolio so you know that hundred thousand shouldn't be all in stocks that would be too much risk. But whatever portion you want to put the risk of the market. It's gonna be a mix of stocks and bonds and other fixed income type investments may be some dividend securities or preferred stocks, and that's where I think having a professional money manager to come in there to help you manage that would be key. The reason I like only using 100,000. There is because that would throw off at 4% a year which is reasonable for managing it for income purposes.

About 4000 a year which should cover your shortfall. The good news is, you'd still have 172 left. So if a portion of that was down.

You wouldn't have to touch it, you could let that ride while you wait for it to come back over time you even if we got into a recession.

We saw the market down significantly yelled that would typically work its way out in 18 months to a couple years and you wouldn't have to liquidate any of those investments. Plus you'd have quite a bit that you could live off of that.

Still in cash and I think as interest rates come back up.

You could look at some very stable types of opportunities there like CDs or high yield savings so I think that's the perhaps the best approach. The only question I would have is should you get some other professionals to weigh in if you have a good rapport and you feel good about this person, great. If not, you could perhaps interview a couple of others. The key is you find somebody that you just have a really good fit with where there's gonna be good communication where you fit their ideal client profile read just feel like you have a good deal connection with that person and obviously they have the experience and an expertise. So if you want a couple of others to weigh-in, perhaps with some other options you could go to our website moneywise.

I.org search for find a CK look for a couple of other CK's in your area. Apart from that, I think this is a good plan because you got quite a bit in cash. It's good to give you peace of mind in that portion that's at the risk of the market. Again, it's gonna be income generating which is good because this money needs the last if the Lord tarries and you have good health for several decades, but beyond that you you got some some cash to fall back on if you had the unexpected or you needed some long-term care or major medical expenses that type of thing does not make sense to you. Yes it does is it reasonable for him. He said that I would be earning at least 4% 20 case 1% 1% is reasonable and I mean nobody can guarantee anything you once you get into risk assets where you know you're taking a risk. I mean, obviously, his target would be 4% and that's not unreasonable, but there's no guarantee for that unless you go to an insurance product where an insurance company through an annuity, perhaps, is the one guaranteeing that rate, but I believe what he's probably saying if I understand what you're saying is that his targets can be 4% and he's demonstrated that for clients like you. He can do that over time, even though portions of it are to be up and down along the way and that 1% management fee is very reasonable as well so I appreciate your call today. I think you're on the right track.

You can feel good that you're making decisions that line up well with God's word and I think you're going to give you a strong financial future moving forward.

We appreciate your call.

Let's head to Nashville, Tennessee Lori, how can I assist you.

Hi Rob, have any insight to an recommendation for protecting my cash my bank account and my retirement accounts on my understanding is that there's a bill in Congress that it pushing trail decades to replace typical cash with digital cash and that is it. That's not that's not good.

It's really scary. I just wonder what kind of protection. Can I take now buying gold buying big coins but got any ideas well I'm not familiar with what you're talking about related to the retirement accounts.

Anything that you know would involve the crypto currencies is is not being discussed related to the US retirement system, so I'd be interested in learning more about specifically what it is you're looking at, but I think you know as we look forward your cash is protected through FDIC insurance, which is basically means it's backed by the full faith and credit of the United States government. Now you could say well because of the national dad and because of other issues going on, you know, you lack confidence in that.

I would say just based on the size of our economy and our resiliency even though we may have some headwinds down the road you know I think will be able to make the decisions we need to make to overcome that and I would say you know if my confidence ultimately is in the Lord. But in terms of being a part of the US banking system. I don't have any concern about that and you know if you were to think about going highly concentrated into gold.

I would have some reservations there because of number one the volatility of it you know it's an asset that performs well when everything else is down, but it's no it's not income generating. And it's very difficult PO to utilize even if we were to get into a really bad situation economically. So I think the key moving forward is really just a focus on it with what passes through your hands. Following biblical principles which is how I limit my lifestyle live well within my means. And you know how I have proper savings and I want to give generously. Ultimately, my trust needs to be in the Lord, not in anything else. And I think being properly diversified in stock and bond portfolio with an allocation of gold, but probably not more than 5 to 10% of the most is the approach that has historically done the best and I think put you in a position to succeed over time. In terms of limiting risk and giving you the greatest potential reward throughout your investing life going highly concentrated in the precious metals. I think just adds too much risk and volatility to the equation. Even though I would agree with you, and we've got some some things were going to have to address spending and debt levels, and fiscal policy down the road as a country. I'm confident will make those decisions as we need to and ultimately we got to trust the Lord for everything. So that's gotta be my best advice for you today. Lori and I appreciate your call. I certainly can understand where you're coming from but I would really have some reservations about you moving large amounts of money into the precious metals. We appreciate you checking in before we wrap up today. Let me take an opportunity to invite you to be a financial supporter of moneywise media dear entirely listener supported in your gift would go a long way toward helping us finish the year strong and prepare for our ministry activities next year if you count yourself among our moneywise family we would invite you to give you can do that quickly and easily on our website just had to moneywise. The.org and click the donate button that's moneywise live.org and click donate. You can give their online securely and quickly. Or you can find our mailing address or phone number.

Thanks in advance for your gift before December 30 moneywise. Live is a partnership between Moody radio and moneywise media want to say thank you to my team today Deb Solomon Dan Anderson Gevity and Jim Henley think being here as well come back and join us next time we'll see you and may God bless you


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