Compass » Money Wise

Your mortgage & refinancing options – Howard Dayton and Steve Moore are joined by Dale Vermillion to answer your questions about housing and mortgages. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): “I’m a truck driver and spend most of my days on the road. Should I buy or keep renting?” “We’ve had our rural home on the market for a while. Should we drop the price to sell it more quickly?” “Do we need to have diversified credit to build our FICO score so we refinance our home?” “I have an FHA loan. I’ve paid 18% of the principle so far. Can I get mortgage insurance removed?” 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 Need, a Want or a Desire. – Howard Dayton and Steve Moore give advice about how to determine necessity in our spending. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): Whether it is okay to ask creditors to accept a lower amount to payoff your debt "I'm trying to organize my financial paperwork and I'm not sure which papers to keep and which to throw away." "I'm looking at a smart lease on a new car. It seems like a great deal for my situation but what do you think?" "I have a full time job but I get paid as a contractor and have to cover certain work related expenses myself. Should I tithe on my gross paycheck or on the amount left after 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!

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!

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!

Act Your Own Wage – Howard Dayton and Steve Moore discuss the importance of tracking your purchases and spending less than you earn. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: “Will I have to pay taxes on insurance money received to pay for damage to property?” “Would it make sense to refinance our mortgage right now, even though we plan on moving?” 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 MoneyWise on the air!

Housing Costs of Pastors and Missionaries – Howard Dayton and Steve Moore discuss housing options and costs for those working in full-time ministry. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): “Should buy a home or continue living in church parsonage?” “Should we try to sell our home before going into the mission field?” “I have several mortgages (investment and personal) and a couple of auto loans. Which loan should I pay down first?” “We have cash from property we recently sold, but we’re not sure how best to invest it. What do you recommend?” “I can no longer afford payment on my van. Is it possible to trade in the van for something with lower payments?” “Should we cash in a ROTH to pay off debt?” “What’s the best way to start a budget and track spending?” 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!

How Traffic Citations Affect Your Insurance Rates  – Howard Dayton and Steve Moore explain how certain traffic tickets impact the amount you pay each month for audio insurance. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): “We’re paying 5.75% interest on our current mortgage. Should we look to refinance ?” “I’ve never been a good money manager. What steps can I take to begin handling money God’s way?” “Is purchasing gold a good idea right now? If so, where do I get it?” “I have a couple of credit cards I no longer use. Should I close them or keep them open for credit-building purposes?” 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 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 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 MoneyWise on the air!

God at Work in New England – Howard Dayton reports on an encouraging experience at a recent men's conference in Boston. Then he and Steve Moore turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How do I plan for the possible long-term care of a handicapped child?" "I'm anticipating a financial settlement from a car accident and need insight on using it for housing? " "Recent financial difficulties caused us to lose our home, but also left us debt-free. Should we consider buying another 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!

Spring Cleaning – Howard Dayton and Steve Moore offer practical tips for organizing your financial clutter. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Catching up on past-due income taxes" "Reducing the interest rate and monthly payment on a home mortgage" "Home-purchase options for missionaries " "Home-renovation options " "Disposing of a specialized piece of property and home that' didn't fulfill it's intended purpose " 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!

Summertime Money Lessons – Howard Dayton and Steve Moore offer tips for using the summer months to teach your kids financial lessons that will last a lifetime. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): “My sister recently passed and we found that she had taken out credit cards in our parents’ name. What should we do?” “I’m receiving collection calls for a relative who doesn’t live with me. How can I stop this?” “Should we continue to pay down our student loans asap or save that money for our kids’ college?” “What do I need to put together to put my estate in order?” “My estranged husband has taken out credit lines in my name. What can I do?” “Do you recommend high-mileage vehicle repair warranties?” “Making my granddaughter a trustee of family trust. How can I ensure the trusteeship will be conducted responsibly?” 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!

Government spending and what it means to you – Howard Dayton and Steve Moore discuss the national debt & government spending and what effect it has on your personal finances. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): “My sister recently passed and we found that she had taken out credit cards in our parents’ name. What should we do?” “What should I do with 401k funds now that I’ve changed jobs?” “How do my wife and I keep the right work/life balance?” 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!

Should We Buy or Rent? – Howard Dayton and Steve Moore help young couples weigh the pros and cons of buying that first home. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How can I pay off a high-interest car loan more quickly?" (Howard recommended checking out BankRate.com) "Are tax-free municipal bonds a good place for my elderly parents to put part of their savings? " (Howard recommended the listener look into SoundMindInvesting.com) "How do we play 'catch up' on our retirement savings?" (Howard recommended the Compass small group study, 'Navigating Your Finances God's Way') 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!