Compass » Money Wise

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!

Compass Money Map / Destination 6 – Howard Dayton and Steve Moore review the first five stops on the journey to True Financial Freedom and then take an up-close look at Destination 6 – paying off your home and funding your children's education. You can download a free copy of the Compass Money Map by going to our website, www.compass1.org. Next, they tackle the following listener questions (800-525-7000 or moneywise@compass1.org): "We're almost out of debt and considering building a home that would require a fairly large mortgage - any advice?" "What's the difference between a bank and a credit union?" "What do you think of  'identity protection services' like LifeLock?" "We need to move out of our nearly-paid-off home - should we sell that home before buying the next one?" "How do I get the best deal in a used car?" (Howard and Steve recommend checking out Edmunds.com, kbb.org and ConsumerReports.org. Note: you'll need to subscribe to get the best info from Consumer Reports.) Check out our website to find lots of resources that'll help you get your financial journey, including the free Compass Money Map, the free Compass Spending Plan,  Howard’s book, 'Money and Marriage God's Way' (also available on audio CD) and his book, 'Free and Clear'. We also have budget coaches, available at no charge. Thanks for your prayers and generous financial support which allow us to keep Money Wise on-the-air!

Don't Worry - Be Happy - We all encounter difficulties in life - including our financial lives. Howard Dayton and Steve Moore remind us that God is trustworthy and faithful in tough times, and they encourage us to to be pro-active in preparing for an uncertain future. Then they turn to listener questions (contact us with your question at 800-525-7000 or moneywise@compass1.org): "I'm getting harassing phone calls for someone else's debs - what can I do?" (Howard and Steve recommend checking out the Fair Debt Collection Practices Act and getting on the 'Do Not Call' list) "I have more than enough money in my 401(k) to pay off my home - but should I?" "We recently sold our home in a 'short sale' - how do we rebuild our credit?" Howard's book, 'Free and Clear', was referenced today. You can see all of Compass' helpful resources at compass1.org.  Thanks for your prayers and financial support that keep us on the air!

5 More Tips for Saving Money - Continuing their money-saving conversation from the previous (3-1-12) program, Howard Dayton and Steve Moore discuss five more tips for cutting costs and saving cash. Then, they answer calls and emails (800-525-7000 or MoneyWise@compass1.org) about the following: As a Christian public school employee, is it ok to ask for a pay increase? Does whole life insurance make sense or is term life insurance the way to go? Thanks for listening and, as always, thanks for your prayers and generous financial support which allow us to keep Money Wise on-the-air!

5 Tips for Saving Money - A penny saved is a penny earned! So today, Howard Dayton and Steve Moore discuss practical, everyday tips for keeping more money in your pocket. Then, they answer calls and emails (800-525-7000 or MoneyWise@compass1.org) about the following: Whether to use an adjustable rate mortgage to lower monthly payments Deciding whether to keep renting or buy a new home Should I use money from a property sale to reinvest in business or pay off debt? Thanks for listening and, as always, thanks for your prayers and generous financial support which allow us to keep Money Wise on-the-air!

Encouraging Your pastor (with Brian Kluth) – Howard Dayton and Steve Moore welcome author and church-giving expert, Brian Kluth. They discuss the vital role of generous giving in the life of the church and the financial challenge faced by many churches due to a decline in giving. As a former pastor, Brian also offers insights on how you can be an encouragement to your pastor and his family. There are no callers on today's program, but if you have a question, please contact us at 1-800-525-7000 or moneywise@compass1.org. Today's resources include two books by Brian, "Experience God As Your Provider" and "40 Days of Generosity".  Brian also offers a variety of free resources and an online devotional at GiveWithJoy.org. You might also find these Crown resources helpful: the free Compass Money Map and Howard’s book, “Your Money Map” (also available on audio CD). Thanks for your prayers and generous financial support which allow us to keep Money Wise on-the-air!

Compass Money Map / Destination 5 – Howard Dayton and Steve Moore review the first four stops on the journey to True Financial Freedom and take an in-depth look at Destination 5 – purchase an affordable home, start pre-paying on the mortgage and begin investing. You can download a free copy of the Compass Money Map by going to our website - www.compass1.org. Next, they tackle questions from listeners (800-525-7000 or moneywise@compass1.org): "We make a good living, but just can't get on track with a budget" "I'm thinking of cashing out an IRA to accelerate my mortgage pay-off" "I need a place to invest my savings that's easy to access" Today's resources include the free Compass Money Map (found in the Resources section of our website), the free Compass Spending Plan and Howard’s book, “Money and Marriage God's Way” (also available on audio CD). He also refers to our budget coaches, available at no charge. Thanks for your prayers and generous financial support which allow us to keep Money Wise on-the-air!

A Different Way of Thinking, pt 2 - Several weeks ago, Steve Moore and Howard Dayton discussed how easy it is to let our hearts or eyes trick us into making purchases that we don't need or can't afford - and looked at a tongue-in-cheek list of  'ways to stay poor forever'. They continue that theme today, and underscore the need for God's word to guide our financial lives. Then they turn to listener  questions (800-525-7000 or moneywise@compass1.org): If I accept a pay-off offer from my credit card company, can I ensure that the debt doesn't continue to hurt my credit report? I need to sell an 'upside down' vehicle - what are my options? Are summer camp expenses deductible as 'Child Care'? (Howard recommends IRS publication 503) How can I learn more about the commercial real estate market? Resources mentioned today include Howard's books, "Free and Clear" and "Money and Marriage God's Way," books that help teach kids to be better money managers and our Small Group Study.  Thanks for your prayers and ongoing financial support that help keep Money Wise on the air, and please remember to let your station know that you enjoy the program.  But most of all, thanks for listening!

What to Do When You Have to Sell Your House ... But Can't - Howard Dayton and Steve Moore discuss the struggles of selling real estate in a buyer's market, and what you can do to make it through that process.  Plus, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: How to get your budget started with existing bills and health care needs Whether it's better to a new car or a used one in today's tough economic climate How to get a spouse on board about living on a budget when both of you spend more than you make. Thanks for listening and, as always, thanks for your prayers and generous financial support which allow us to keep Money Wise on-the-air!

Do you really trust God or just say you do? - Howard Dayton and Steve Moore discuss trusting God in our actions and following what His Word tells us.  Next, they answer calls and emails (800-525-7000 or MoneyWise@Compass1.org) about the following: Whether a twenty dollar "debt" will affect your credit report How to file taxes as an interim pastor if you're not taking a salary Alternatives to filing bankruptcy Thanks for listening and, as always, thanks for your prayers and generous financial support which allow us to keep Money Wise on-the-air!

Some Advice on Taking Advice - Howard Dayton and Steve Moore discuss what the Bible says about seeking good counsel, including seeking counsel from your spouse, seeking counsel from fellow believers, using Biblical discernment when picking your counselors, and seeking the counsel of many counselors.  Next they answer listener questions (800-525-7000 or MoneyWise @Compass1.org) about the following: 403b: What is it and are there other options for me? How to save for and plan for retirement when you're older Buying rental property in a potentially bad neighborhood Whether it's best to pay off credit cards first, add to your emergency savings, or contribute to your 401k Recommendations for tools to help start a family budget, and Scriptures that address diversifying investments Thanks for listening and thanks for your prayers and generous financial support which allow us to keep Money Wise on-the-air!

Simplifying Your Financial Life - You've probably noticed that the more things you own, the more of your time they demand. Howard Dayton and Steve Moore help you find balance when it comes to your 'stuff' and the time needed to work for and care for it all. Next, they tackle questions from listeners (800-525-7000 or moneywise@compass1.org): How do I release my home that's serving as collateral for a home business? What's the best way to to pay a little extra each month on my mortgage? How much of my investment plan should be in gold? (Howard recommends the website, SoundMindInvesting.com) Today's resources include the free Compass Money Map (found in the Resources section of our website) and Howard’s book, “Your Money Map” (also available on audio CD). Also recommended is the Money and Marriage God's Way Audio Book. Thanks for your prayers and generous financial support which allow us to keep Money Wise on-the-air!

Compass Money Map / Destination 4 – Howard Dayton and Steve Moore continue leading you along the journey to True Financial Freedom with a review of the first three destinations and an in-depth look at Destination 4 – saving for a home, retirement, children's education and other major expenses. Next, they tackle questions from listeners (800-525-7000 or moneywise@compass1.org): My employer no longer matches 401(k) contributions - what adjustments should I make? I've recently lost my husband - how do I invest my savings? (Howard recommends the website, SoundMindInvesting.com) Are there advantages to a 15-yr mortgage vs just paying extra on a 30-yr mortgage? My husband has had a recent gambling problem - should I handle the family finances? What are ''T-bills'? Today's resources include the free Compass Money Map (found in the Resources section of our website) and Howard’s book, “Your Money Map” (also available on audio CD). In the closing of the program, Steve recommends that college students check out the Compass Collegiate Small Group Study. Thanks for your prayers and generous financial support which allow us to keep Money Wise on-the-air!

President's Day - America is blessed to have been given many godly leaders throughout its history. Howard Dayton and Steve Moore note some of the financial wisdom of George Washington - and its continued relevance today. Then they turn their attention to questions and comments  from listeners: Will I be taxed on a 'short sale' of my home? How do I encourage my parents to save for retirement? (Howard recommends his book, "Your Money Counts") Testimony: We saved thousands planning our own wedding! Thanks for your prayers and ongoing financial support that help keep Money Wise on the air.  Please remember to let your station know that you enjoy the program, too.  But most of all, thanks for listening!

Budgeting on an Irregular Income - Howard Dayton and Steve Moore discuss how to keep your boat afloat during tumultuous times with unpredictable income.  Plus, they answer calls and emails (800-525-7000 or moneywise@compass1.org) about the following: CD Ladders, Corporate Bond Ladders, and T.I.P.S., How to keep a Christ-like attitude while attempting to collect payment from those who refuse to pay for services rendered, And the wisest place to invest money, and in what it should be invested (SoundMindInvesting.com). Thanks for listening, for telling your friends about us, and for your prayers and generous financial support which allow us to keep Money Wise on-the-air!