Compass » Money Wise

What Motivates You? – We all make decisions in life based on different motives - some healthy, some not so healthy. Howard Dayton and Steve Moore explore s few of those today on MoneyWise. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Should we accelerate our house payments, even though we will probably not be able to pay it off '?" "Is it safe to provide all my financial information to a third-party money management company?" (Howard recommended checking out Mint.com and AnnualCreditReport.com) "What's the difference between gambling and day-trading?" "What form of gold is the better investment: 'paper' gold or 'physical' gold? Mentioned on today's program was Howard's book, 'Money and Marriage God's Way' (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!

Crossroads Career Network, with Brian Ray – Howard Dayton and Steve Moore welcome career coach, Brian Ray, to help listeners find jobs, careers and God's calling. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "When I retire from the government in two years, I want to go back to school.  What are my options?" "My college major doesn't seem to have a lot of employment potential.  Should I take a year off or just keep going (and adding to my student loan debt)?" (Brian recommended the listener check out the Christian-based personality and career assessment, Career Direct). "I'm 28 and want to go back to school to help make a career change.  Would it be wise to borrow for tuition?" Click here to find out more about Brian Ray's organization, Crossroads Career Network (CrossroadsCareer.org). And 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 Money Wise on-the-air!

Should You Invest in Rental Housing?– Howard Dayton and Steve Moore discuss the pros and cons of investing in rental properties and whether or not it may be right for you. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: “Should we keep our existing life insurance policy or look for something different?” How do you keep the peace and work together in a marriage with different financial personalities? “Someone told me that in the New Testament, Jesus did away with tithing. What are your thoughts on this?” 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!

Credit Cards: The good, the bad and the ugly– Howard Dayton and Steve Moore discuss the proper use and common pitfalls of credit cards. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: "Should I use life insurance proceeds to buy a home?” “Should I take out a loan for college or go to a less expensive school?” “How can I get out of the cycle of payday loans?” 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!

Financial Freedom –  Howard Dayton and Steve Moore discuss the importance of financial independence no matter your income or circumstance. Then Howard and Steve turn to questions from listeners (800-525-7000 or moneywise@compass1.org): “Is a long-term bond a good option for my elderly relative?” (Steve recommended the listener look into SoundMindInvesting.com.) “My husband and I recently received a payment from a car accident. How do we decide how to use it?” “How do I budget on an irregular income?” "I am 63 years old and pay weekly for group health insurance. I would like to cancel the insurance and use the money to pay off a high interest credit card until I qualify for Medicare. What are your thoughts?" "What does the Bible say about suing a non-believer?" "What is an annuity?" "The city I live in offers a first time homebuyers program, which provides assistance with closing costs. Would there be moral or practical flaws in accepting this kind of assistance?" 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!

Too Busy for God – Howard Dayton and Steve Moore reflect on the need for regular time alone with God. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How do we decide between 'term' insurance and the many varieties of 'whole life insurance'?" "Is it biblically OK to transfer ownership of my home to my children in order to increase my eventual Medicaid benefits?" "Is it wise to borrow against my 401(k) to pay off high-interest credit card debt Mentioned on today's program were Howard's books, 'Free and Clear' and 'Money And Marriage God's Way' (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!

Mutual Funds (with Mark Biller) – Howard Dayton and Steve Moore welcome Mark Biller of Sound Mind Investing to discuss mutual funds and why they are so attractive to investors. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "What are the pros and cons of fixed income annuities?" "I'm 77 years and have bailed out of the stock market - now where do I put my cash ?" "We have no retirement savings other than our farm - how do we start putting money aside?" (Mark recommended checking out a report on the SMI homepage, 'Counting Down to a Secure Retirement") "Please explain the difference between a traditional IRA and a Roth IRA." "Is it unwise to invest more than the employer match into a company retirement plan?" Mentioned on today's program were Howard's books, 'Free and Clear' and 'Money And Marriage God's Way' (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!

The Role of Obedience – Howard Dayton and Steve Moore focus in on why obeying God is such a key part of long-term spiritual and financial health. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "I could pay off my home, but I'd have no savings left - what do you think?" "Is life insurance a good place to invest for our children's college expenses? " "What's the best way for extended family to help with my daughter's college expenses?" "My fiancee has a considerable debt load - how should I address this?" "Are multi-level marketing companies legitimate?" "What's the best way to sell a time share?" Mentioned on today's program was the free 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!

Developing a Debt-free Mindset – Howard Dayton and Steve Moore reveal what the Bible has to say about developing a mindset that will enable you to achieve freedom from the bondage of debt. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: “Should my daughter tithe on salary alone or salary PLUS tips?” “What is the best way to save for retirement and college?” “We are at a place where we have a monthly surplus. How can we invest this prudently?” 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!

Avoiding Bad Credit Choices – Howard Dayton and Steve Moore identify the types of credit you should always avoid on the road to financial freedom. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: “Should I take a hardship loan from my 401k to pay off debt?” “Is now the right time for me to buy a house?” “Are there any Biblical guidelines in regard to lending money to others?” 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!

Church Benevolence – Howard Dayton and Steve Moore discuss the difficult topic of benevolence. There are so many needs, but how do you know whom to help? Howard mentions Galations 2:10 when Paul met with Peter, James and John to discuss his calling, and the one thing they asked Paul to do was minister to the poor. Howard encourages church leaders to do whatever they can to make ministering to the poor part of the DNA of their congregations. Next, Steve and Howard discuss the makeup of a Benevolence Committee at a church. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "We're looking to get our first home while market is low and want to know which mortgages would be best for to consider" "What should I do with an inheritance, and what are the tax implications?" "I'm a college student living at home with my parents. I'd like to move out, but need help setting financial goals first." Mentioned on today's program were several of our children's books available on the Compass website. While you're there, also be sure to check out our radio archives that enable you to hear past programs that you might have missed. And thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!

The High Cost of Food Prices (with Sunny Smith) – Howard Dayton and Steve Moore welcome businessman and restaurateur , Sunny Smith, to discuss rising food prices and how to keep your grocery bill under control. Then Howard and Steve turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "I'd like your advice on mentoring young women with their finances" (Howard recommended the caller check out the Compass small group study, Navigating Your Finances God's Way) "How can we re-finance a manufactured home? " Mentioned on today's program was the free 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!

Slow and Steady – Howard Dayton and Steve Moore discuss how success in the areas of saving and investing comes from relentless faithfulness, not from hasty speculation. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Are tax lien certificates a good investment?" (Howard recommended the listener look into SoundMindInvesting.com) "We have some money saved up - how do we decide how to use it? " (Check out the free Compass map) "How can I re-finance an 'upside down' property?" "Please explain investing 'after-tax' money vs. 'pre-tax' money" "My husband purchased some baseball season tickets that we just can't afford - how do I approach him about this?" "What is a 'penny stock'?" Mentioned on today's program was the Financial Stewardship Bible. 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!

Showing Partiality – Howard Dayton and Steve Moore discuss how pride and partiality can interfere with our finances - and our relationship with God. Then they turn to a question from a listener (800-525-7000 or moneywise@compass1.org): "I've recently started a small business - how can I ensure that it succeeds ? Howard recommended contacting SCORE.org) " "What's the best way to use an inheritance? " "Where does 'eating out' go in my budget?" "Could changing the 'allowances' on my W4 help my debt-reduction plan? " "Would it be better for my wife to wait a few years before receiving Social Security income" (Howard recommends checking out SocialSecurity.gov) Mentioned on today's program were Howard's books, Free and Clear and Money & Marriage God's Way (also on 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!

Understanding bankruptcy – Howard Dayton and Steve Moore explain various types of bankruptcy and reveal what the Bible has to say about it. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): “I will soon be receiving life insurance money. How do I got about giving/tithing on this money?” “What kinds of paper work & records (old bills, pay stubs, etc.) should I hang onto and how long should I keep them?” “We have had to make house payments late recently. How will that affect our credit?” 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!