Compass » Money Wise

Preparing for Biblical retirement – Howard Dayton and Steve Moore discuss the Biblical picture of retirement and what you should do to prepare for it. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: I'm upside down in a condominium and cannot sell it. Should I walk away from it? Should I look into refinancing with a different type of loan? What do you think about investing in whole life insurance? 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!

Bartering – Howard Dayton and Steve Moore discuss how to save money by swapping goods and services with others. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How do we give money to our daughter (from our retirement account) with minimal tax consequences?" "What can you tell me about a balloon mortgage?" (Howard recommended that the caller check out BankRate.com) "I'd like some details on how to diversify my retirement investments." 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!

Investing Basics, with Mark Biller – Howard Dayton and Steve Moore welcome back Mark Biller of Sound Mind Investing (SoundMindInvesting.com) for advice on when to begin investing and how to tie in life goals with investing decisions. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "I need advice on rolling over a 401(k) from a previous employer." "What do you think about investing in cash value life insurance?" "Please explain the different kinds of annuities." "What's the difference between a Money Market Deposit Account and a Money Market Mutual Fund?" "Should I pull money out of a Money Market account to pay off my car?" To learn more about Mark Biller and Sound Mind Investing, click here. 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!

Christmas In July – Howard Dayton and Steve Moore discuss how to budget for Christmas spending and how to avoid Christmas debt. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): “Can you help me understand the differences between a supplement plan and a Medicare advantage plan?” “I’ve gotten into some trouble dealing with unpaid taxes. How should I go about handling that?” “I’m in my seventies and I own an investment property that I’ve been trying to sell. Should I consider refinancing at my age?” 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 Career without College – Howard Dayton and Steve Moore explore careers that don't require a four-year college degree, and suggest questions to ask when considering your career path. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "What's the vbest way to close major credit card accounts?" "We're retired and debt-free. What's the best way to invest a lump-sum payment we're expecting soon?" (Howard recommended the listener look into SoundMindInvesting.com and Kingdom Advisors) "We currently have 'whole life' insurance - how do we determine if 'term' insurance would be better?" (Howard recommended checking out KingdomAdvisors.org) Mentioned on today's program was CareerCast.com. 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!

Understanding Your Credit Score– Howard Dayton and Steve Moore reveal how to access and understand both your credit report and your FICO score. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: Should I consider refinancing my home? We are upside down in our home, but must move for a job. Should we try to sell it or rent it? Should I tithe even if that will leave me short of the money I need to live each month? Can you offer any tips for someone who would like to get into the real estate development business? 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!

The Discipline of Saving– Howard Dayton and Steve Moore offer tips for those who have a hard time saving money each month. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: I'm upside down in a condominium and cannot sell it. Should I walk away from it? Should I buy a condominium for my retirement? What's the difference between an ETF and a mutual fund? What Bible verses deal directly with debt? Should I close out credit cards that I am not using? 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!

Restitution – Howard Dayton and Steve Moore examine the scriptural concept of restitution today on MoneyWise. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): 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!

The Economy and Investing (with Ken Frenke) – How do you know what long-term investing choices to make when the 'long-term' seems so uncertain? Howard Dayton and Steve Moore welcome Ken Frenke to the program to help shed light on that issue. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "When is the 'right time' to downsize?" "We've made great progress getting out of debt, but it has messed up our credit score - how do we remedy that ? " To learn more about Kenneth Frenke and Company, click here. Also mentioned on today's program was Howard's book, '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!

Finding a Career – Howard Dayton and Steve Moore offer steps to discovering your vocational gifts and 'calling' today on MoneyWise. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "I want to buy a home, but my credit score is not where it needs to be - how do I raise it and how long will it take?" "What are the normal fees for getting into an assisted living residence?" 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!

Hidden Expenses in the Family Budget – Today we look at the truth about eating outside the home. Howard Dayton and Steve Moore share their wisdom and insight on the costs of eating out. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How do I take my severance package tax-deferred without a long surrender time period?" "I have a mountain of student loan debt and I recently lost my job. Should I file for bankruptcy?" (Howard recommends the listener check out dl.ed.gov for an economic hardship deferral.) "I own two homes but due to the downturn economy I have no equity. With my situation, would I be able to refinance to a lower interest rate?" (Howard suggests the listener to check out zillow.com to find out more about the HARP2 program.) "I have $20,000.00 that I would like to invest, but I may need it for a down payment on a home within the next two years. Is there a good short-term investment option?" "My husband and I just paid off our house and are completely out of debt. My husband has been taking advantage of his company's 401K and I am a stay-at-home mom. How do you propose investing the savings we are currently building up?" Be sure to check out the Compass website for a complete listing of helpful resources and our "Hey Howard" and "Money Wise" radio archives, and thanks for your prayers and generous financial support which allow us to keep these programs on-the-air!

Covering the costs of parenting– Howard Dayton and Steve Moore reveal helpful money management tips for parents. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: Where should you draw the line when giving money to others? Should I purchase a home with my son? Should I give up my career to pursue a full-time outreach to kids? 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!

Making the most of your family budget– Howard Dayton and Steve Moore discuss what you allocate for various spending categories in your budget. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: “Should I invest in a 529 or an IRA?" “What exactly does the Bible have to say about tithing?" “Should I purchase a manufactured home?" 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!

Investing Advice (with Dave Szafranski)– Howard Dayton and Steve Moore are joined by investment advisor Dave Szafranski and offer investment insights from God's word. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: “Should I use money from my 401K to pay for my mortgage?” “Should I set up a pre-paid college program for my child?” “Can you tell me about a 529 Plan for saving for college?” “Where is a credible source to buy gold?” 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!

Who Really Owns Your Stuff? – God is the ultimate owner of all we have. Today on MoneyWise, Howard Dayton and Steve Moore help us become better caretakers of what He has provided. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How do I determine when to start taking Social Security?" (Howard recommended the listener check out the 'Quick Benefit Calculator' at SSA.gov) "Would it be wise to cash out my retirement fund to pay off a car loan and provide a home down-payment?" Mentioned on today's program were two children's books by Howard and his wife, Bev - The New Bicycle and The Secret of Handling Money 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!