Compass » Money Wise

Listener e-mails – Howard Dayton and Steve Moore  answer listener questions at (800) 525-7000 and MoneyWise@Compass1.org: "What do you think of downsizing to pay for our son's college tuition?" "How do I prepare financially to relocate to another state?" "My daughter's purse was stolen - what does she need to do to protect her credit and identity?" "How can I get my husband involved in creating a family budget?" "I'm 53 and about to pay off my home; what should I do with the increased cash flow between now and retirement?" "A job loss has created serious debt problems that keep getting worse - how do I handle this?" (HD recommended Mint.com) "I co-signed on some college loans for my daughter and now we're both without jobs and cannot pay - how do I keep from losing my house?" Mentioned on today's program was Howard's book, 'Your Money Counts', as well as the Compass Map and Compass 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!

Managing Money for Eternity – Howard Dayton and Steve Moore discuss the eternal ramifications of knowing Christ and managing our finances in a way that's pleasing to Him. Then they answer listener questions at (800) 525-7000 and MoneyWise@Compass1.org: "How do we deal with a foreclosure in a way that honors God?" "I've been accepted into an excellent music school with very high tuition - how do I decide whether or not to attend?" "Should student loans keep us from buying a home?" Mentioned also on today's program was the Compass small group study, 'Set Your House in Order'.  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!

To Whom Should We Give? – God's word is clear that we should share our financial resources with others. Howard Dayton and Steve Moore spell out who the recipients should be. Then they answer listener questions at (800) 525-7000 and MoneyWise@Compass1.org: "Should we avoid investing in companies that may not share our biblical values?" "What are our funding options for buying a new home?" "Is a HELOC tax deductible?" "Is it okay to gamble, if it's just on occasion?" "What online budgeting system do you recommend?" (Howard mentioned Mint.com) Mentioned also on today's program was Howard's book, 'Your Money Counts', as well as the Compass 'Collegiate Study' and Compass 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!

'Investing Basics' for the New Year (with Mark Biller) – Howard Dayton and Steve Moore welcome investment advisor, Mark Biller (Sound Mind Investing), to discuss basic investing topics (motivation, when to start, short-term vs long-term, when to seek professional advice). Next, they answer questions at (800) 525-7000 and MoneyWise@Compass1.org about the following: "How do life insurance and investing relate to one another in my long-term plan?" "What's a good rate of return for a growth stock mutual fund?" "What's the difference 'preferred' stocks and 'common' stocks?" "If a company goes bankrupt, what happens to the stock?" Mentioned on today's program was the "Sound Mind Investing Handbook". 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 Hey Howard Email Questions – Howard Dayton and Steve Moore open the program by answering various listener email questions. Next, they answer questions at (800) 525-7000 and MoneyWise@Compass1.org about the following: I love my job and have a great situation, but I've been offered more money elsewhere. What should I do? Is a home-based EBAY business a good business for a Christian woman? I would like to start a web based business. I've had offers and am wondering if they're legitimate. Can you please explain the parable of the talents? I'm a recent widow. Never handled finances up until now. How should manage the money I have for retirement? I've been a cash-only person, but want to work toward buying a home. How do I build my 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!

Shooting for the High Score – Howard Dayton and Steve Moore offer a few tips to help you build your credit score. Together, they answer listener questions at (800) 525-7000 and MoneyWise@Compass1.org: How can we go about refinancing a commercial property? What can I do to build my credit? Is it okay to pay off debts according to interest rate instead of smallest-to-largest balance? Would it be wise to take part of my pay in the form of company stock? We don't have quite enough income. What can we do to get ahead? Mentioned on today's program was the 'Sound Mind Investing Handbook' and a report on the SMI website, titled, 'Making the Most of Your College Savings program'. 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!

Saving and Investing for College – Howard Dayton and Steve Moore welcome Mark Biller of Sound Mind Investing (SoundMindInvesting.com) to discuss ways to prepare for your child's college expenses. Together, they answer listener questions at (800) 525-7000 and MoneyWise@Compass1.org: "We've opened a '529 Plan' for our children's college education, but are now having second thoughts - what are our options?" (Howard recommended checking outKingdomAdvisors.org and EverydaySteward.com) "How can I make my 401(k) more profitable?" "Do you think we have our retirement funds spread out properly?" Mentioned on today's program was the 'Sound Mind Investing Handbook' and a report on the SMI website, titled, 'Making the Most of Your College Savings program'. 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!

Can You Budget on an Irregular Income? – Howard Dayton and Steve Moore explain the key to living successfully on an unpredictable income. Then they answer listener questions at (800) 525-7000 and MoneyWise@Compass1.org: "How can I tell if I'm getting enough return on my retirement investment account?" (Howard recommended checking out SoundMindInvesting.com) "When is it okay to borrow to expand your business?" "Should we follow through with a financial pledge to a church that is making decisions that seem to be unwise?" "Is it worth pulling money out of my Roth IRA to make a larger house downpayment?" "Can you recommend a good book on Christian business principles?" (Howard recommended 'Business By the Book' by Larry Burkett) "Would it make sense to cash out a 'whole life' insurance policy to create an emergency fund?" Mentioned on today's program were several books for children and teens: 'The New Bicycle', 'The Secret of Handling Money God's Way' and "The ABC's of Handling Money God's Way'.  Also mentioned was the 'Compass Spending Plan' 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!

Avoiding Job Burnout – Howard Dayton and Steve Moore examine the need for hard work and times of rest in order to avoid job burnout . Then they answer listener questions at (800) 525-7000 and MoneyWise@Compass1.org: "My parents took out a student loan in my name and have really hurt my credit score - how can I repair things?" "How do I re-finance a high-interest auto loan?" "How far do I go in helping a family member who's out of work without hurting myself?" "I'm a widow and debt-free, planning to go into missions - should I sell my home or keep it and rent it out?" Mentioned on today's program was Howard's book, 'Free and Clear'.  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 Virtue of Patience – Howard Dayton and Steve Moore discuss the financial and spiritual benefits of patience. Next, they answer questions at (800) 525-7000 and MoneWise@Compass1.org about the following: "What's the best use of some money we're about to receive from the sale of property?" "We have a growing family and need your help with some car decisions." (Howard recommended checking out Edmunds.com) "Will marking out the Social Security number on my Medicare card (for security reasons) create problems for me?" "Is bankruptcy biblically permissible?" "What credit reporting agencies do I contact if I lose my wallet?" (ExperianExperian.com, EquifaxEquifax.com, TransUnionTransUnion.com) Mentioned on today's program was the "Set Your House in Order" workbook and small-group study. 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!

Gold Fever – Howard Dayton and Steve Moore discuss the modern day gold rush and whether or not you should buy gold or silver. Next, they answer questions at (800) 525-7000 and MoneyWise@Compass1.org about the following: Should I invest in real estate with my son? Would it be wise to participate in an investment fund that turns around depressed hotels? Should I keep the older vehicles I have or buy something newer? I just paid off my car. Is there anything, insurance-wise, I should keep above basic liability? 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!

Revisiting the Treasure Principle – Howard Dayton and Steve Moore revisit the lessons learned from Randy Alcorn's classic Bible-based book. Next, they answer questions at (800) 525-7000 and MoneyWise@Compass1.org about the following: Where should we invest money we're getting from the sale of an investment property? My 401k's plan administrator has asked me to move the funds. How should I go about this? Testimony about using Bible based principles to pay down considerable debt. 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!

Teaching from the Apostle Paul on Giving – Howard Dayton and Steve Moore cover some easy-to-remember principles from the apostle Paul on giving. Then they answer listener questions at (800) 525-7000 and MoneyWise@Compass1.org: "I have enough in a Money Market account to pay off my mortgage, but are there higher priorities?" "How do I restore my credit after a judgment against me?" "We have a loan against our retirement account and another loan that we used to expand my wife's business - which should we repay first?" Mentioned on today's program was Howard's book, 'Free and Clear', as well as 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!

Listener E-mails – Howard Dayton and Steve Moore tackle listener e-mails (MoneyWise@Compass1.org), then turn to the phone lines for more questions from listeners (800-525-7000): "Would it be wise to roll out 401(k) into a Roth IRA?" "We've sold a second home - how do we prioritize the use of the proceeds?" "How do I allocate $60,000 between emergency savings, retirement and paying down my mortgage?" "If I pay off my home early, do I still pay all the interest?" "My undisciplined spending is hurting my finances - can you help?" "What steps do I take in forming a new business?" "Our high housing cost makes it impossible to tithe - should we sell our home?" "Would it make sense to borrow in order to finish off my masters program?" Mentioned on today's program was Howard's book, 'Money and Marriage God's Way', as well as the Compass Map and Compass 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!

Finding Our Way Through the Mortgage Maze (with Dale Vermilllion) – Howard Dayton and Steve Moore welcome author and mortgage consultant, Dale Vermillion, to help explain the terminology you'll encounter when applying for a home mortgage. Then they answer listener questions at (800) 525-7000 and MoneyWise@Compass1.org: "We're retired and debt-free, but don't have a lot of buffer - if we were to need money down the road, would a reverse mortgage be a wise choice?" (Dale mentioned checking out 'reverse mortgage' info at HUD.gov) "I'm facing foreclosure - how do I respond?" (Dale recommended checking out MakingHomeAffordable.gov) "How is an 'index' used in an adjustable rate mortgage?" "Is it possible to get a mortgage with no money down?" Mentioned on today's program was the Compass small-group study, 'Set Your House in Order'.  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!