Compass » Money Wise

Dealing with Bill Collectors – Have you ever been on the receiving end of a harassing call from a debt collector? Howard Dayton and Steve Moore examine the 'Fair Debt Collection Practices Act' and discuss what a bill collector can and cannot do to collect a legitimate debt. Then they turn to calls and e-mails from listeners (800-525-7000 or moneywise@compass1.org): "I work for a ministry which offers no health insurance - any advice on how to find my own? (Howard recommended that the caller check out chministries.org) "I'm navigating the Medicare maze, and the choices seem overwhelming - can you give me some direction?" (Howard recommended the caller contact KingdomAdvisors.com for a referral) "What do you think of our plan to pay off student loans?" Mentioned on today's program was Howards' book, Your Money Map (also on CD) and the  free Compass Money Map. Steve also discussed Howard's 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!  

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!

Howard's Trip to Israel – Howard Dayton relates some powerful impressions made on him and his wife during a recent trip to Israel. Then he and Steve Moore turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "What's the best way to cash out stock for my mom's home care? " "We're moving to a neighboring state for 5 years, then likely moving back to retire. Should we sell our home?" "We're thinking of building a new home. Would the amount of downpayment differ from buying an existing home?" "What do you think of a '529 Plan' for college saving?" Mentioned on today's program were Howard's books for children, 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!

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 (steady plodding, diversification, getting wise counsel) and then take questions from listeners (800-525-7000 or moneywise@compass1.org): "Do you have suggestions for monetary baby gifts, grandchildren's birthday, etc? Are savings bonds still a good idea? " "How do we invest a substantial amount of retirement savings?" "Is it a good idea to cash in my 401(k) to pay off my home? Are there advantages to putting future money into a Roth IRA instead of the 401(k)?" Resources mentioned on today's program include Howard's book, Free and Clear, as well as the book (and CD) Money & Marriage God's Way. 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!

Explaining Budgeted Spending to Kids– Howard Dayton and Steve Moore offer practical advice for teaching children the value of prioritized spending. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: • “How should I invest $10,000 saved at age 16?” • “Is it advisable to temporarily reduce tithes and offerings to pay down debt?” 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!

What the Bible Says About Prosperity – Some teach that it's God's will for all believers to be financially prosperous. Howard Dayton and Steve Moore look at biblical teaching and examples to clarify God's intent in this area.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Can you give me some insight on deferring students loans? (Steve mentions that some areas of military service offer loan forgiveness). " "How do I get out of a reverse mortgage?" "I'm accumulating student debt - how do I keep that from controlling my financial life once I'm out of school?" 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!

Dealing with Dishonesty – Howard Dayton and Steve Moore examine what God's word says about being honest in all our dealings, and what to do when we've been dishonest. Then they turn to calls and e-mails from listeners (800-525-7000 or moneywise@compass1.org): "My car will be paid off soon and I want to apply that car payment to another debt - how do I decide which one? "I've gotten a late start on retirement investing - any guidance?" "My salary was recently cut and I have a high credit card balance - what do I do?" "I'm thinking of buying some land for cash. My only debt is an auto loan - what do you think?" "Is it better to invest in private grade school education now, or put that money away for college?" "Should I tithe on Social Security Disability income? I'm barely making ends meet." Mentioned on today's program was Howards' book, Your Money Map (also on CD) and the  free Compass Money 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!  

What Does Scripture Say About Debt? – Howard Dayton and Steve Moore examine biblical warnings about indebtedness and suggest practical ways to steer clear. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How do I clean up some problem areas on my credit report? " "We're debt-free and have money to invest - what options should we consider?" "I'm relocating out of the area - what should I do with a productive piece of rental property?" Mentioned on today's program was Howard's book, Free & Clear, the website, SoundMindInvesting.com, and Howard's books for children, 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!

Investing - with Mark Biller – Howard Dayton and Steve Moore welcome Mark Biller from Sound Mind Investing. Together, they handle investing questions from listeners (800-525-7000 or moneywise@compass1.org): "We're thinking of cashing in a Lifetime Annuity to pay off all our debts - good idea, or should we leave it alone? " "The past couple of years, I've overlooked the required minimum distributions from my IRA - what do I do" "We've been advised to roll funds from our 401(k) into a 'Single Premium Immediate Annuity'. We don't know much about it and the deal sounds too good to be true. What's your take on this?" For more information about today's guest and the Sound Mind Investing newsletter, click here.  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!

Bad Credit Choices – Howard Dayton and Steve Moore reveal the types of loans and credit you should avoid. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: What steps can you take to stop spinning your wheels and move toward financial freedom? We need to sell land that is now worth less than what we owe. What are our options? After receiving $9,000, would it be best to apply that money to debt, emergency savings or to buy a home? Would a bill consolidation loan hurt my credit? What is the best way to pay for wedding costs? What can I do when a gym is still draft money from my account after cancelling membership? What is an interest-only mortgage, and is that something you would recommend? 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!

Resisting the Pitch– Howard Dayton and Steve Moore offer tips for resisting the onslaught of advertising designed to stretch you beyond your budget. Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: Should a Christian seek legal representation in preparing for an unwanted divorce? How long should you keep tax returns and financial statements? With multiple debts, which debt should we try to pay off first? 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!

Navigating the Mortgage Maze, with Dale Vermillion – Howard Dayton and Steve Moore welcome Dale Vermillion to discuss key considerations for wise mortgage decisions.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "My daughter has been offered a 'bi-weekly mortgage' - is that a good idea? " "How do I switch from a variable rate mortgage to a fixed rate?" "I've had an adjustable rate mortgage for a number of years. So far, it has served me well, but is it time to jump to a fixed rate?" "How does your credit score affect your ability to get a mortgage and what percentage rate you'll get?" "We've borrowed to invest in some land. Should we mortgage our debt-free home to pay off the land, or possibly consider investing elsewhere?" 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!

Inheritance – Howard Dayton and Steve Moore lay out a plan for 'finishing strong' - creating a plan for passing on assets to the next generation. Topics include having a will that'll properly execute your wishes and training your children to be wise managers. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "I'm buying a restaurant - help me with the legal options in creating a new business " (Howard appealed for a free consultant / mentor in the Laporte, PA area; Steve also recommended the caller check out the small business consultants at SCORE.) "I'm a single mom in college and just got out of debt - help me stay on track!" "I'm in my 20's and looking to establish credit - any advice?" Mentioned on today's program was Howards' book, Your Money Map (also on CD) and the  free Compass Money 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!  

Financial Communication in Marriage – Money conflicts are normal in marriage - and can even be healthy. Howard Dayton and Steve Moore offer insights on developing good financial communication skills and making good money decisions - all in ways that show love and respect for your spouse.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "I have an 'adjustable life' insurance policy - how does that compare to other options? " "What's the best age to start drawing Social Security?" "Large medical bills have pounded our credit rating - how do we rebuild it?" "My employer has stopped the 401(k) match - is it time to switch to a Roth IRA? Mentioned on today's program was Howard's book, 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!