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Our True Source of Hope

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
February 1, 2022 5:04 pm

Our True Source of Hope

MoneyWise / Rob West and Steve Moore

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February 1, 2022 5:04 pm

Do you fear the future and the uncertainty that comes with it? We never know what tomorrow will bring, but we can be confident if we know where to place our faith. On today's MoneyWise Live, host Rob West will talk about our one true source of hope. Then he’ll take your calls on various financial topics. 

See omnystudio.com/listener for privacy information.

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2011 reasons for I know the plans I have for you declares the Lord will view the future of the observed that comes with it.

We never know what tomorrow will bring. But we can be confident that we know our true source of hope. Talk about that first today limits on your calls at 800-525-7000 800-525-7000.

This is moneywise live financials are so let's talk.*Hope focuses on the eternal, putting our hope in the one who promised to rise from the dead and did she keeps all of his promises, the eternal, and those having to do with our day-to-day living.

In Matthew six, Jesus tells his disciples do not be anxious, saying, what shall we eat or what shall we drink, or what shall we wear for your heavenly Father knows that you need them all. But seek first the kingdom of God and his righteousness and all these things will be added to you.

Philippians 46 Paul gives us a prescription for confidence. He says do not be anxious about anything but in everything by prayer and supplication with thanksgiving let your requests be made known to God.

We never want to put our hope in our bank account because that would be putting our trust in our money in the Bible is clear. You cannot serve two masters. Both God and money.

America is the richest nation in history. Most of our poor are far better off than most people around the world.

Yet we often find ourselves in despair without hope. It could be that our expectations come from looking at others around us and then falling into the deadly comparison trap. Our expectations become relative to the Joneses next door.

We assume that God will make us at least as successful as the guy in the cubicle next to us that leads to another problem if we begin to think that we are not blessed because we aren't spiritual enough then we begin to worry that others will think we are very spiritual, otherwise God would bless us with this is entirely on biblical God promises to provide for our needs not our wants and we will have difficulties in life, financial and otherwise, in the Bible tells us how to deal with them in James one were told, count it all joy, my brothers, when you meet trials of various kinds and in Romans five more than that, we rejoice in our sufferings, knowing that suffering produces endurance.

God uses trials in life to shape our character into the image of Christ because you are saved by faith and not of your own works.

You're already spiritual enough we are to follow the financial principles laid out in the Bible Ernst Sabin given then rely on God for the results God's will for you may not be a six-figure salary when Paul wrote in first Timothy five a that a Christian is to provide he obviously didn't know how much provision. It would take for us today. But God knows high prices and rising inflation. Don't negate his principles.

Still, when the primary provider in a household can't provide as much as those around him or her discouragement, and fear may set in and that can be especially troublesome for parents if they're unable to shower their kids with expensive gifts like the neighbors do too often, they resort to credit cards and debt hoping to not disappoint the kids and sometimes those around us.

Maybe even in church have real needs send are struggling there. Discouraged by the lack of support from fellow believers, many of us are too busy to even notice. Or we don't want to get involved in someone else's problems. But what if their financial needs could be helped by the abundance God has blessed most of us with what if that's the exact reason God's given some people more than they require the church in acts two is our model for helping supporting and feeding one another. There we read, they had all things in common and began selling their property and possessions and were sharing the hall as anyone might have course, that doesn't mean we should live communally, but meeting each other's needs.

When someone is going through a difficult time is the God expects Proverbs 17 reminds us of a friend loves at all times brother is born for and our love for one another is supposed to be the chief signs of the world of our changed lives in serve God, the source of all well. We hope you find that courage and as you face the trials of everyday life, especially financial trials because of the number 20 78525 W. and this is moneywise versus think we've joined us today for moneywise live our team has played for you and now were ready to take your calls. We want to know what's going on in your financial life and let's do that together we have an incredible community of folks out there who listen to the show regularly and together we want to find God's heart for his money as we take on this incredibly important role that he's entrusted to us that of steward. Here's the number to call today 800-525-7000. That's 800-525-7000. We got several lines open and were looking forward to hearing from you. Let's begin today in northern Idaho. Terry, thank you for your call today what your question about your local church hello church in the 501(c)(3) and incorporated in one of our members had Ministry of counseling and would like to use faith in our building and killed their officers built he would charge for her service. The exception would be for members of the church and are questioning it are are we legally allowed to do that and if so does the real need to be rented or used for free. Yeah, that's a great question. You are certainly allowed to rinse her the space. The question is rather whether that rental income Terry is taxable related to something called unrelated business income UBI and the question as to whether or not it is taxable depends how you can rent out the space to 1/3 party, whether that third-party is a nonprofit or for-profit.

However, the church could be taxed on that rental income is gonna boil down to whether the tenants activities are related to the churches purpose and with counseling you could likely make that case. If so, the activities contribute substantially to the organization's purpose. The not-for-profit purpose and the income would not then be taxed. I'm not an attorney.

So what I would recommend is, although I'm saying directionally. This sounds perfectly appropriate.

I would run this by a tax attorney who is knowledgeable with nonprofit activities, especially since you just getting this set up to make sure that you do it the right way so that you're not caught off guard and you don't have the IRS coming on the back and saying that if somehow jeopardize your nonprofit status or at least for that income. There should've been taxes paid and there weren't so therefore this can be penalties and interest, but I think what you're going to find is this is perfectly appropriate. But I think getting that professional counsel on the front end to make sure you do it appropriately as is going to be something that'll be prudent to some extent. But how do I find a lawyer who is familiar with 501(c)(3) step yeah I would probably contact a certified kingdom advisor in your area.

If you go to our website Terry moneywise.org and just click find a CK contacted a couple other close to you and just asked for referral to an attorney that has expertise in this area.

Your tax attorney would be great somebody who regularly works in this situation, or a CPA who is knowledgeable in this area could likely help you as well, and any one of those certified kingdom advisors you contact should be able to make that referral. This is gonna be individual has significant experience as a financial professional helping businesses and individuals plan their finances but they also have met high standards as believers and in terms of integrating biblical wisdom into their advice and so that would be a trusted person that could then make a referral to the appropriate professional specifically related to this issue okay thank you very much okay Terry, thank you for calling listening.

I bless you. We appreciated 800-525-7000 as a number to call.

That's 800-525-7000. We have several lines open today.

Perhaps one for you will look forward to hearing from you. Chicago, Illinois. W MBI, Dana asked for calling today. How can I help you know doing great.

Thanks for calling. Okay, out of super job all day money pretty much in that and totaling over about $5000 and what I want to know is the wise thing to do to go into big cloying technology to kind of get the boat most bang for the buck or getting my money and you're talking out as an investment with these retirement dollars. Is that right yeah you know that the first question is can you and the second question is, should you.

Can you invest retirement assets into bitcoin you could through a self-directed IRA which is a special kind of IRA that allows you to invest in non-marketable securities so outside the typical stock and bond portfolio you can invest in real estate and oil and gas and you know things like even bitcoin or crypto currencies, then the second question is should you and I would say no. In my opinion, I wouldn't do that and here's why. The volatility in the crypto spaces, unlike anything most investors have ever experienced the if you just look at what's happened to bitcoin you could look at last year and say yeah I was up 67% in 2021. That sounds amazing, but that masks the fact that it fell 31% in January, 27% in a single day last May, down 55% during the summer and then finish the year admit a separate decline that reached down 50% in January so you know it's just incredibly volatile and you know these are still very early days and the go to zero risk your remains rampant new technology curves Dana are exciting, but partly because we can look back at prior cases and see the incredible potential of catching the next Microsoft Apple or Amazon but what we fail to remember is that there's a large portion of these new technologies that don't materialize. And I think it's just way too early for you to be putting dollars in this type of investment. Given the volatility number two I think you as you think about just your role as a manager of God's money. The idea that we would try to get rich through something that's going to see a sharp increase. That's highly speculative.

I just don't think is prudent as an investor. As a steward of God's resources. You know the way the Bible describes how we should approach investing is steady plodding and this would be more in the hasty get-rich-quick trying to take a small amount make a large amount of a short period of time, and I think the volatility and risk level you would have to take to achieve that kind of return is just not commensurate with.

I think at least in my view our role as stewards of God's money.

Remembering this is not yours. It says the same is true with me what God has entrusted to me doesn't belong to so I would look for a sure and steady approach in a properly diversified index fund. Thanks for calling. Be right back. Thanks for tuning in the moneywise live Roger along with us today. Take your calls and questions on anything financial. Applying God's timeless wisdom to the decisions and choices you're making with your resources today. We love to hear from you.

We got some lines open the number to call is 800-525-7000. That's 800-525-7000. By the way, if you've not created a free moneywise account. We'd love for you to do that you can do it quick and easy on our website moneywise.org when you create a free account you be able to post to the moneywise community and get responses from our coaches will also automatically be signed up for our weekly wisdom email that comes out every Thursday with an encouraging note for me are recommended reads and are trending podcasts that in much more.

When you become a moneywise subscriber and so we'd love for you to do that.

It's absolutely free.

Just create a moneywise account. Again it moneywise.org the number call today 800-525-7000. Let's head back to the phone. Shane is listening to W CRF in Ohio. Jane Gorin, Rob, thank you for your show.

I really appreciated your thrilled. My question is, Congress is spending money like it at a ridiculous pace and eventually it can't last forever and eventually I think the dollar is going to if not collapse.

It will note diving value so much.

So my question to you is, is it prudent first of all I think that it prudent to buy silver and gold for that coming. And I was. What you thought about that. Yeah you I appreciate that question Shane and I certainly concur that the debt levels are alarming. I think still at this level sustainable. But just given the trends in the trajectory of where were headed guilt as one of the largest economies in the world. We can absorb in a one time GDP essentially where we are today. We still have a very strong economy of the biggest in the world. As I said, and a very strong consumer but at some point so were going to have to deal with this. Could we have a debt crisis down the road sure deal. Could we have some problems with the US dollar.

It's possible he certainly seen currency collapses in history are there warning signs know that that's on the horizon for us. I would say no. I just based on all of the data points we look at the day where we find ourselves in, whether something like that. There's a real possibility.

If folks were to flee the US dollar.

If you were to lose reserve currency status folks were to make a mass exodus you would have to answer the question to where would they go and there really just isn't a viable alternative at this point some folks say well that's where the crypto's come in.

Well, not so fast he know that were seeing other problems with that theory. All around us and if we look at other countries and the challenges that they have as so perhaps reserve currency status you others really nobody that rivals us in terms of an unlikely alternative.

So I think given that even though we do need to address spending. We need to address the debt we need to address monetary policy which know the spec it is been turned off. According to federal reserve German Powell ill and were to see raising rising interest rates. You know, given all of that. What I be looking to overweight in the precious metals in this environment, I wouldn't change just because I think the the long-term return that we've seen on the precious metal, combined with the volatility. It's greater than just a properly diversified stock and bond portfolio. If you talk about taking physical possession in large quantities. You gotta store it safely got the dealer markups on the buying and the selling and then you got a deal with the challenge of how you actually use it as a Chan tangible means of exchange. You note based on how you are actually receiving that so that it given all of that for me and that's all it is, you're the steward of what God has entrusted to you, and you need to make that decision prayerfully, but for me I think the better approach would be to have a proper L allocation, at least historically, probably 5% to the precious metals and not try to overweight anticipating some sort of financial major financial calamity or collapse that would cause a precipitous decline in you know the value of our currency, they markets and an incredible rise in the precious metals. I just don't see that on the horizon announcing some of these scenarios are possible down the road.

I just don't think there are deal in our line of sight anytime soon.

That's my view, tell me your thoughts.

So when you said 5% of that mean 5% of your total portfolio. Yes okay I think that that sounded okay very good. The other you know there's nothing I would throw out Shane is that you know rather than taking physical possession. You could use like a tracking stock like an ETF exchange traded fund that tracks the price of the underlying metal as opposed to taking physical possession, so I would look into that.

In terms of making your decision to decide which direction you want to go. Certainly that allows you to benefit from the rise of the price of the underlying metal without having to deal with those other issues that I mentioned, but ultimately you can have to decide how you want to go in that direction. We appreciate your call today. Thanks for being a part of the program hundred 525-7000 Lester's in Sarasota, Florida hi Lester, how can help user technical sure. Yeah, I don't listen to your so very much so I'm kind of edited advantage on a lot of the stuff that you talk about. I got all of what I did here.

I like so I guess I'll try to catch you up on Alisa Jimmy requested well all I kind of started late in life with a mortgage and so I was like 52 years old. One night, took a mortgage and we took white, salt, and we took a 30 year mortgage because we were like, you know.

Hopefully we can pay down on the principal as we go along and not be locked in because now I didn't want to be 82 years old and still have a mortgage so as it hands right now. We still owe 61,000 and we you actually would have the money to pay off the mortgage, but I would like to ask you if that would be a white thing to do because I got a payoff from the mortgage company and it's actually showing almost exactly what they stand out each month as our payment all it shows that balance and that's about what the payoff is going to be sold were our actual payment is like $573 market were to limit thousand one of the rest goes on principle so I'm not sure what your thoughts are on where we should have with this. Just keep doing what were doing her. Also, let me clarify couple days and be happy to weigh in on whether or not it makes sense to pay it off, but we get to the discrepancy.

If there is one about what you're being told around the payoff. Did you believe that the payoff would be less than what they're showing. Based on what you expected quality. I had no idea how that works because we have paid off so much in that short of the time so yeah I had I had figured the payoff would be last. According to what was on their monthly statement. Okay I think that's the first step is to determine your whether or not they have been applying this extra mouth to the principal. I would call and ask that specifically I would like to see an amortization schedule and see how this extra amount I've been sending every month has been applied to make sure that in fact it did go against the principal. Let's do this work and had a break we come back I'll do with the second part of your question.

This is moneywise live back. Thanks for joining us today and moneywise live biblical wisdom for your financial decisions. Would love to hear from you today. We got a few lines open 800-525-7000 just before the break we were talking the Lester in Sarasota. Lester owes $61,000 on the mortgage. He got a payoff which he was surprised about. Thought perhaps you might know a little less. But secondly is wondering if it makes sense to go ahead and pay that off so Lester is it was saying before the break, I would contact your mortgage servicer to have them give you a breakdown of how those extra payments have been applied.

Hopefully what you find is that they have in fact been applied to the principal. With each payment over and above that scheduled meet monthly payment which would change the amortization schedule because with a combat with a amortized mortgage or amortized loan. The interest is based on the outstanding balance. So as that balance comes down every month ahead of schedule. Given that you're making additional principal payments. There is less interest to be paid on that smaller balance and that should help you pay it off a little bit quicker so let's get that settled them a call to that should allow them to give you the documentation to show you where you stand and why. Secondly as to whether or not you should pay it off. My question would be a first. Are you in retirement. Are you all still working.

Lester lost Jerry Stiller all yeah yeah yeah we are. We are still working or not. Okay, what are your ages and 57 Emily 60 okay great and you said you have about 61,000 in savings which is equal to the payoff is that right well we do have a little more than that we could get off. I just yeah they actually do show that principal going to principal and were definitely paying a lot less interest in getting so I guess they are not crediting that so let's yeah that sounds right. You know, being beings we just you know God alone in 2016.

Now that while we like thinking that payoff would be a little last but sure if so, I certainly understand that. How much do you have them in savings right now. You said you have a bit more than 61,000 yeah we have between all our accounts is like 120,000 okay and is not all liquid right now, does that include some investments.

Now it's all liquid and then separate from that hundred 20,000 Lester you all contributing to retirement plans at work now. So now I have ended at that.

The other question that I was going to get you all you know is that it ain't mortgage off should we like start investing into retirement that it trying to get this date down and out sold doubt that yeah that's the direction I would had unless you were to tell me Rob we have a real conviction as we prayed about this and thought about this with conviction around being debt-free and if you do, I think you need to proceed in that direction, but if you're comfortable just paying this mortgage out the way you have been, and even accelerating, which is accelerating it which is great. I would prefer you to go ahead and start getting some money working for you on a compounded basis in a retirement plan. Now, given that you're self-employed don't have a plan available work, I'd probably look to start with that ASAP IRA, SEP, that's can allow you to put away a bit more money than the traditional or the Roth IRA would allow you to do. Yeah, you can put away 61,004 2022 and you know you can make both the employer and the employee's contribution, the lesser of either 25% of your compensation or 61,000 so that allows you to put away quite a bit of money not to chewed fully fund that. I realize that's a lot but it gives you a lot more room than, let's say $7000 IRA contribution would so that would be a great option for you and then what I would love to see is you all to maximize what you put away each year between now and retirement and then let's focus on trying to get that mortgage paid off in time for retirement so that as you're entering retirement whenever that is. As you think and pray through that and that mortgage is gone. In that largest expense that you have every month is now off the table and so you can keep your lifestyle spending as low as possible, which just means you don't have to have quite as much income so right now I just stay on the track that you're on with the mortgage but then let's try to start really jumpstarting the. The IRA contributions through the setup and to get started on that and get some advice on how to invest that money. I connect with a certified kingdom advisor there in Sarasota. Just add to our website moneywise.org and click find a CK Lester. We appreciate you listening and being a first time caller today. God bless you, sir. 800 525 7000s another call we got some lines open Robertson Chicago Robert a red heads are high. Thanks for taking the call. I'm going to be coming up this summer looking at some outdoor house repairs that are not to be able to be ignored and I need to pull some money together to do that I've done and home equity line of credit. So I know what that involved starting hear more about like a cash out refinance and am wondering what you think about comparing those two options. The first question would be whether a refinance makes sense in your situation. Tell me about your first mortgage in terms of what you owe.

How many years are left on it and what's the interest rate their interest rate by 265 right now. You will about 100 little over hundred and 70,000 and so I'm figuring probably paying that down pool probably next for five years.

Still, so that a little ways to go so and we did refinance just a few years ago. Okay, it's not. I wouldn't touch that Robert them and you'll spend a refinance that probably somewhere between five and thousand and $7500 just for the cost of the refinance specially or adding to that 174. These rent home repairs and you can end up with a higher rate. And that's a phenomenal rate. So I just don't think that makes sense. You know I can build a make up the cost anytime soon.

In that so I probably hang on to that mortgage and then for these home repairs, I'd probably look at a home equity loan, not a line of credit because little home equity line of credit is good typically have a variable rate and as rates at higher this year which they will that rates can be heading north on your side try to lock in a low rate on a home equity loan pull out the amount that you need to know more in the just try to get that paid off as quick as you can write thank you very much okay Robert, we appreciate your call today. God bless you sir quickly to Minnesota. We got to just a minute and 1/2 left before a break. Lisa, thank you for going I can help you call sure all retirement in about here are her house is paid off. We have about hundred thousand 401(k) that where planning on taking out about 4% a year out of that with purity.

And then I have to work probably about eight more years and I'm a little bit younger than him, and is that social and 401(k) life. There increase I'm wondering about payment hide on the Kathleen Valley paid tied on the growth so yeah it's a great question, Lisa, and you know what I would just say, as for me and that's what it is. This is ultimately between you and the Lord I want to be legalistic about it. I don't try to drill down on how much is considered increase how much is a return of capital. And I said before in the farming economy the biblical times didn't subtract the amount of wheat they planted in computing the time. With that said, the tide is based on the increase.

So, if you were able to determine what you put into that 401(k) than you could determine how much his game and then you could tithe off the true increases can be harder to do a Social Security, I'd look at it all is God's provision, but ultimately I pray about it and talk to the Lord of the line will talk off the air, will be right back. Thanks for tuning in the moneywise live biblical wisdom for your financial decisions around West Coast. Thanks for calling listening today were grateful but said right back to the phones franklins in Fort Lauderdale, Florida. Franklin thanks for going out. I going great and I call okay. My question is I'm 29 years old and me.

My wife at 2.5 and 10 and we don't have a financial plan for retirement just yet, but we do have money that we wanted to invest. Whether that wasn't our first home or I was able to get some information from a financial advisor who mentioned me about investing into a S&P 500 $1500 every month for the next 20 years, earning compound interest so that I can eventually have about $1 million in that 20 year.

And I wanted to note that dumping really think that that's something that I could actually do or what would you invite that I do, whether that be the first time home or S&P 500 appreciate the question you know and it's all comes down to priorities because we have limited resources and as stewards of God's resources we need to try to make this wise decisions as we can. The good news is that God's Word gives us principles we can follow. So we want to give generously what do that right off the top so we can be connected to God's activity with his provision because it's all his in the first place.

And that's how working to break the grip of money over our lives.

We want to live within our means. We want to avoid the use of debt when I have some margins we can fund those goals be added to investing more, putting our emergency fund in place or saving for the down payment on the house that you described and want to set some long-term goals and I think if we do that over a long period of time you'll put yourself in a position Franklin to experience God's best in this area, but it does work well require prayerful consideration as to the priority order. Now what I might suggest is that the first to cut a pecking order. Once you're giving right off the top in your living within your means with the spending plan and a method to control the flow of money in and out that as you have margin. The first order of business is to put that emergency fund in place.

I'd recommend 3 to 6 months expenses in a liquid savings account that's available for the unexpected. Then I would love for you, assuming you have no credit card debt. I would love for you to take somewhere between 10 and 15% and put it away toward retirement on a compounding basis and I think this is what this person was getting at, but I'd recommend you do that through if you have one, a company-sponsored retirement plan because as you make those contributions where the investor the target date fund or the S&P 500 or some other type of properly diversified and long-term investment strategy. The taxes are going to be sheltered from impacting the returns so it's not good to put a drag on the growth you'll just pay the taxes down the road if you use the traditional version of that. Do you have a retirement plan available to you or your wife at work don't know why my wife thankfully she's been able to be a full-time stay-at-home mom and I actually am and 1099, so I don't have any any company issued or sponsored retirement fund yet.

Okay, so I probably look at either a Roth IRA to start which you can do one for you and your wife you could put in 6000 a year for each of you with that you have your own and then she'd have a spousal IRA or if you want to be able to put away more than 12,000 year I'd look at a separate IRA very low cost. Not a lot of annual filings, or any upkeep and it allows you to put away 25% of your compensation or 61,000, whichever is less.

For 2020 2C could put away quite a bit more and you could invest that money getting the tax deduction and the tax deferral you could put all that in the S&P 500 index.

If you wanted to, but again it's gonna be in a tax-deferred environment so I get that 10 to 15% going into that now. I'd love for you guys to be able to buy a home, and I know how expensive real estate is in South Florida so I'd probably get started on allocating a portion of your margin to that down payment just given how much 20%, which is what I would recommend 20% of whatever you'd be buying in Fort Lauderdale is going to be quite a bit of money you spend 200,000 I need 40 K in your down payment you spend 300 and I need 60 you can do the math and that's probably gonna take a while so you know, it may mean that you can't do quite 10% into that separate IRA you have to back that down so that you can take a portion and begin saving toward that down payment, but I'd probably split between those two and the ultimate allocation between them.

I think is ultimately you know your call. I'd start with the emergency fund, though, and then whatever margin you have available. One simple weight would just be to go 50-50 half of it into the down payment savings account and half of it into that retirement account. Does that make sense yeah definitely I appreciate out kind of thinking somewhere along the lines of that but I wanted a more professional opinion on it. So thank you thank you everyone can listen for Stan, though I don't get your information, I want to send you a copy of the Ron blues book, master your money.

It'll give you a good overview of financial planning but from a solid biblical perspective, and I think that'll be a real blessing to you. We appreciate your call today.

Tampa Florida is where Karen's located Karen, thanks for calling. How can I help you. For more details are know you know we don't recommend the title lock insurances so it's often billed, you know, it's a combination of terms that sounds important, but it really is just unnecessary. Title insurance is what you will get when you take out a mortgage is usually required by the lender to ensure that you have a valid claim on the title to the property yet that's very worthwhile but you probably Artie have that title lock insurance or title locks claim that they can prevent somebody from you fraudulently or will notify you if somebody tries to fraudulently retitle your property in their name. The problem is that would be fraudulent. If somebody did that and they tried to foreclose on the property or evict you, you would be able to show that they didn't have a rightful claim to that property, and there's nothing that the title lock can do to that. So I think the only thing you want to look at is just your some counties now have the ability to check the title ill online, you could do that and just monitor it yourself, but at the end of the day.

There is nothing that title locks will do for you that you can't do yourself so it would be an unnecessary expense. Okay we we appreciate your call today were to finish today and mentor Ohio Gwen, thank you for calling.

How can I help you, thank you eight dollars. The principal and know how long will it take to learn a new you know how long will it take that 900 you know I wouldn't. As much as I'd love to say I could run that in my head. I can't say.

But here's what you can do Gwen.

If you just go online and you use whatever search engine you use and you look for a debt payoff calculator there's gonna be hundreds of them and they're all free. You'll be able to look at what your current balance is what your current interest rate is for the simple note and then what you're adding principal every month and you'll be able to plug that right in.

It'll tell you exactly how many years and months. It will take for you to pay it off based on the balance today based on the interest rate and based on this extra amount that you are sending over and above your scheduled monthly payments of just put that in your search engine find that that payoff calculator calculate that number and the variable will be the amount of time and it'll tell you exactly and then you'll be able to play around with it to see if what if I put in 120 instead of 112 or what if I have to back about $200 and you can manipulate all those numbers and find out exactly what that looks like okay okay okay well 212 well there you go.

We you should be able to play with all of those numbers and figure out exactly what that looks like, and I think that'll give you some peace of mind to know whether you're on track to get this done as quickly as you want to. When we appreciate your call today. God bless you folks something so much for your calls today.

You know, as I shared a moment ago with her previous caller and we look at all of the places that that were spending money and all of the opportunities that we have, it can seem overwhelming to manage God's money.

How do we choose what's the right priority. Use of God's funds and what we realizes that it tends to be quite simple if you can break the areas that we allocate money down into four there's money for living, giving, owing and growing in God's word speaks to each of those and if we live within our means and recognize his ownership and understand that were stewards and therefore every spending decision is a spiritual decision and really the way we allocate God's money says what we value most. The question we then have to ask ourselves is, is this telling the story I want about what's truly most important to me and perhaps I need to make a change well together.

Each afternoon we want to find God's heart, mind, the Scriptures, and help you move forward with confidence as a faithful steward of God's money, and so we appreciate you joining us each afternoon before we wrap up today.

Let me remind you moneywise live is a listener supported ministry.

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Thank you very much that's good to do it for us moneywise. Live is a partnership between Moody radio and moneywise media providing research today.

Robert Sutherland Deb Solomon NGS CUNY producing today Amy Rios engineering and the amazing cavity answering her phone.

Thanks for being here come back and join us tomorrow season


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