Compass » Money Wise

Honesty – Howard Dayton and Steve Moore discuss the importance of being honest in life, finances, and relationships. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: We have a family opportunity to go to the mission field and want to know if it would be better to sell or rent our house while we are out of the country? My wife is currently laid off so our household is on one income. We have multiple debts and thirty five thousand dollars in savings. Should I use my savings to pay off this debt or keep it in the bank to save for the future? Can you explain the importance of tithing on a tight budget? Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Training Children – Howard Dayton and Steve Moore welcome children’s author Michael McNeilly to discuss how to train children how to handle money wisely. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: What’s more important biblically, working to pay off a small debt or going back to school to finish my degree which would require me to obtain a larger amount of debt? We’re trying to buy a home but don’t have credit built up. We’re now being told that we need to look into having “trade lines” open to become eligible to take out a loan. What should we do? Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Cosigning – Howard Dayton and Steve Moore offer Biblical wisdom about cosigning for another individual. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: What should I know about a "rent to own" program? Are they real and legitimate or a waste of time? Is it unwise to take a fifty thousand dollar loan from my 401K to buy a rental property? I have two children who are driven in different ways. I want to know how to financially support them equally through college. Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

A conversation with author Randy Alcorn – Howard Dayton and Steve Moore talk with bestselling author and speaker Randy Alcorn about Biblical money management, generosity and keeping an eternal perspective in regard to money. For more information about Randy Alcorn's ministry and resources, visit emp.org href="http://www.epm.org/ For more information about Randy Alcorn's ministry and resources, visit 

Finances for Entrepreneurs – Howard Dayton and Steve Moore offer Bible-based money management tips for the self-employed. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: My parents are looking into a reverse mortgage. Is this a good idea? After 19 years of marriage, how can my spouse and I get on the same page financially? Can I write off private grade school tuition on my taxes? Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Your Financial Walk   – Have you ever hiked for weeks - or months - at a time? It takes a lot of planning and preparation! Howard Dayton and Steve Moore  discuss the similarities to a successful financial walk today on MoneyWise. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How do I create an emergency buffer AND save for retirement?" "How can I reduce refinancing expenses?" "I'm 80 years old and feel as though I'm not giving enough!" "Will college costs ever come down, and are online courses a good alternative?" Several Compass resources were mentioned on today's program, including various calculators, Compass budget coaches and the Compass Map.  Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Estate Planning (with Jeff Rogers)   – God expects His people to be faithful in the use of finances - both while we're alive and with what we leave behind.  Today on MoneyWise, Howard Dayton and Steve Moore welcome Jeff Rogers to discuss the 'ins and outs' of estate planning. Jeff is the founder and director of Stewardship Advisory Group in Orlando, Florida.  They touch on a number of topics, including: "What's involved in an estate plan?" "Is estate planning just for the wealthy?" "What does estate planning cost? What does it cost to NOT do estate planning?" "What's the difference between wills and trusts?" "Can I write my own will? How about an online form? Do I really need an attorney?" "How can estate planning help me leave more to God's work?" If you have a question for Howard, get in touch at either 800-525-7000 or moneywise@compass1.org. Mentioned on today's program was the Compass small group study, 'Navigating Your Finances God's Way'.  Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Indebtedness –  Howard Dayton and Steve Moore offer Biblical wisdom about how to stay “in bounds” when dealing with debt. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: I recently retired and have money from my 401(k) that will be available to me within the next month. Can you help me decide what to do with this money?  Are we supposed to tithe on our gross income or net income?  My husband and I recently moved and we have received extra money from the sale of our previous home. Could you point me in the right direction on how to best use this money? Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Handling investment solicitations – Howard Dayton and Steve Moore explain factors to consider when approached by a friend or acquaintance about an "investment opportunity". Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: Should I cosign for my grandson to get into an apartment? Would it be wise to take most of the money I have in savings to pay off my house? Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Preparing for financial emergencies – Howard Dayton and Steve Moore reveal the simple definition of a "financial emergency" and offer tips to help prevent a financial crisis. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: Does it make sense to refinance my mortgage despite high closing costs? Should I pay for adequate health ins or forgo that cost to pay off debt? I cannot enter into short-sale process while current on my mortgage. What should I do? Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Car Insurance– Howard Dayton and Steve Moore offer wisdom about how to save money on your automobile insurance. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): Should I sell my condominium and use the proceeds to pay off my car debts and credit card debts? My husband and I recently refinanced our home. Since rates are even lower now should we refinance our home again? Could you help me understand how to categorize my money while using the Compass Calculator? Where is a safe and secure place where I can check my credit report and my credit score online? What would be considered a good interest rate on a car loan these days? I’m about to pay off my car next month and now the only debt I have left is student loans. Should I start saving for retirement now, or should I wait until my student loans are paid off? Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

A Written Plan – Howard Dayton and Steve Moore explain that the secret to having a successful financial life is to have a written plan - short-term and long-term. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How do we juggle significant debt, an upcoming inheritance and a desire to build a house?" "What do you think of our plan to downsize?" "How does someone who's spent time in prison get on their feet financially?" (Steve recommended the Prison Fellowship program, 'Out4Life'.) Mentioned on today's program was the Compass Map. along with Howard;s books, 'Your Money Counts' and 'Free and Clear' (all three of these resources are also available on audio CD)''. Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

See the Light – The Bible sheds light on our finances in a unique way - from the perspective of God Himself.  Today on MoneyWise, Howard Dayton and Steve Moore discuss the effect that God's word can have on our everyday lives. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Should I continue to save for a home downpayment or put that money into my employer's 401(k) plan?" "We're a young couple in debt and we really don't know how to deal with it,. "What percentage of our monthly budget can go toward a car payment?" "Does it hurt my credit score to regularly pay the mortgage a few days late?" Two helpful resources were mentioned today:  the 'Financial Stewardship Bible' and Compass budget coaches. Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Learning from Loss – Hard times can be painful, but Howard Dayton and Steve Moore remind us they can also provide unique opportunities to learn about ourselves and to draw closer to God. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How do I accelerate my student loan payoff?" (Steve recommended the listener check out the free calculators at Compass.org.) "Should I take a significantly lower percentage auto loan that my bank is offering me?" "Does the New Testament require the tithe?" "Our daughter has been accepted to several universities. How do we weigh the caliber of education against the cost (and opportunity to graduate debt-free)?" Mentioned in today's program were two Compass small group studies, "Navigating Your Finances God's Way" and "Money and Marriage God's Way." Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

Misconceptions About Money – Howard Dayton and Steve Moore deconstruct common myths and misconceptions about managing your money. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: Is there any way to refinance to a lower interest rate on a rental an vacation home? I purchased a property, which is now quite underwater. Should I just walk away from it? I have started a small ministry and I'm wondering how best to deduct expenses. Be sure to check out the Compass website for a complete listing of helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!