Compass » Money Wise

Shopping Trends – Howard Dayton and Steve Moore discuss trends in food packaging that may affect your family budget. They also offer guidelines on what your family should be spending on groceries. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "I'm moving out of state and have a home to sell - I can afford to wait for a buyer who will pay top dollar, but is that wise? " "Should I use an inheritance to pay off a deferred student loan? " "I'm due to receive a large commission - how do I prioritize the use of this unexpected income? " "I made a financial commitment that might hurt my estranged wife - should I follow through? " 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!

Are you saving for retirement? – Howard Dayton and Steve Moore help you determine if it’s time to save for retirement. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): “Should I pay off our mortgage or a 401k loan first?” “I have received a $15,000 gift. What would be the best way to invest it?” “Is it Biblically permissible to borrow money to start a business?” “There is a debt on my credit report that I do not recognize. What should I do?” “I know the Bible discourages debt. Does this include home mortgages?” 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!

Sharing Family Finances with Children – Howard Dayton and Steve Moore discuss whether or not it’s wise to share information about the family finances with you children. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): “Would it be worth refinancing my home at this time?” “Should I trust an investment foundation which claims to offer 2% interest on savings?” “I’ve cashed out all investments due to fear of market volatility. What should I do with it now?” 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!

Ask Before You Give – Howard Dayton and Steve Moore provide insight on how to be sure the organizations you support are using your gifts wisely (Steve recommends checking out MinistryWatch.com). Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Is it okay to take a brief break from tithing to pay off a nagging credit card? " "Are extended car warranties a good deal? (Steve recommended that the caller check out the free Compass guideline budget) " "I'm a single mom facing lots of debt, including nursing school - is bankruptcy a good option? (Steve recommended she contact a Compass budget coach)" Mentioned in 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!

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!

The Cost of Pet Ownership – Howard Dayton and Steve Moore discuss some of the costs associated with pet ownership so your budget isn't caught off-guard! Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Is a reverse mortgage right for my situation? " "How do I find the funding to patent an invention? " "Is a pre-nuptial agreement biblical? " 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!

Cash is Back In Style – Howard Dayton and Steve Moore discuss the benefits of paying for everyday expenses with cash, rather than plastic. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: • “How can we reinvest investment profits without paying capital gains tax?” “Should we work to pay off student loans early?” “What is PMI insurance?” “Inherited a 50% share in business. Other half owned by unbeliever. Should I sell so I’m not unequally yoked?” "Should I cosign on a car loan for my daughter?" "Should a non-profit organization tithe on revenue?" 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 FICO Score– Howard Dayton and Steve Moore discuss the importance of your FICO (credit) score and what you can do to improve it. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: “Should I invest money in the market at an advanced age?” “Where can I invest money so that it will earn an actual return?” 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!

Spending Your Tax Return – Howard Dayton and Steve Moore discuss planning and spending your tax return funds wisely. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: “A relative passed away without a will. What should we do?” “What is the best way to go about getting elderly parents to write a will?” “Should I consolidate several mortgages into one note?” 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!

Finances for College Students – Howard Dayton and Steve Moore offer ideas for dealing with skyrocketing college tuition increases. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "I have a piece of rental income and unsure if I'm reporting the income correctly. " "I have enough cash to pay off my home -should I do so or should I invest the money? " "I'm a widow with hopes of retiring this year, but have no savings - can you help me with a plan? " Several helpful resources were mentioned on today's program, including Howard's book, Your Money Counts, the Collegiate small group study, Howard's book, Money and Marriage God's Way and 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!

Diversifying Your Investments, with Mark Biller – Howard Dayton and Steve Moore welcome Mark Biller of Sound Mind Investing to discuss the benefits and priorities of diversified investing. Then they turn to investing questions from listeners (800-525-7000 or moneywise@compass1.org): "What do I do with a 403(b) from a former employer? " "Is the traditional IRA a good place to put investment funds right now? " "Is a Roth IRA a good place to save for our children's college expenses? " "What criteria should I consider when selecting a mutual fund? " Mentioned on today's program was the investment firm, Kingdom Advisors, along with 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!

Home Prices Continue To Fall – Howard Dayton and Steve Moore examine the state of the housing market and take questions from listeners (800-525-7000 or moneywise@compass1.org): "How do I protect my debt-free home from any future creditor liens? " (Howard recommended that the listener read his book, 'Your Money Counts') "A job loss has also led to the loss of my car - and a judgment against me. Any advice?" "Would it be wise to pull money out of a profit-sharing account to pay off my mortgage?" "I'm selling my home in the next few years - would it be better to put some available cash into needed home repairs or into paying down the mortgage?" Mentioned on today's program was Howards' book, Your Money Map (also on CD) and the  free Compass Money Map. Compass also has a number of great resources for  children and teens and a listing of radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on the air!  

An Overview of the Global Economy, with Ken Frenke – Howard Dayton and Steve Moore welcome speaker, writer and financial planner, Ken Frenke. Together, they take a hard look at some of the economic trouble spots around the world and how consumers are adjusting.  They also discuss the jobs outlook, rising gas prices and retirement strategies. Then they turn to a question from a listener (800-525-7000 or moneywise@compass1.org): "I've recently been laid off and have to receive my retirement as either an annuity or a lump sum - what do you recommend ? " 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!

The dangers of chasing riches – Howard Dayton and Steve Moore discuss the difference between possessing wealth vs being possessed by wealth. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): “I have inherited a Mercedes. Should I keep it or sell it to pay off debt?” “A credit card for which my wife is only an authorized user is showing up on her credit. What can we do?” “How do we start saving and get ahead?” 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!

Staying financially organized – Howard Dayton and Steve Moore discuss tips and tricks for cutting down on clutter and keep all your financial records in order. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): “Should I spend money on advertising for my small contracting business?” “After getting ahead financially, how do we budget for something like a camper?” “Should we have a revocable living trust?” 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!