Compass » Money Wise

Listener e-mails – Howard Dayton and Steve Moore start today's edition of MoneyWise by diving into the e-mail bag (MoneyWise@Compass1.org). Then they turn to the phone lines (800-525-7000) for more questions from listeners: "I can either tithe or pay my rent - how do I switch to handling money God's way when I have so many 'worldly' commitments?" "We're cashing in some annuities - would it be better to invest the proceeds or pay off our home?" "What do you think about rolling money from my 401(k) into an IRA and then using a portion of it to build a house?" "With online banking, do I still have to balance my checkbook?" "We're nearing retirement - what's the best way to use some extra monthly income?" "Should we pursue re-financing for a third time?" (Steve recommended checking out HUD.gov) "How much of our daughter's college tuition should we pay?" (caller was encouraged to check out ScholarshipCoach.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!

Your Business Is Your Pulpit – Howard Dayton and Steve Moore discuss the unique opportunity given to Christians in business to be a witness for Christ. Then they answer questions at (800) 525-7000 and MoneyWise@Compass1.org: "Would it be okay to put our giving on hold for a while in order to get out of debt?" "Would we be better off putting retirement money into an existing Roth IRA or into a work-sponsored 401(k)?" "Should we sell some investment property in order to become completely debt free?" "How much do we pay our children for work around the home?" Mentioned on today's program was Howard's book, 'Your Money Counts'. 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!

Whom Are You Trusting? – Where do you go for wise, trustworthy counsel? Howard Dayton and Steve Moore point you in the right direction today on MoneyWise. Then they answer questions at (800) 525-7000 and MoneyWise@Compass1.org: "How do we keep our growing family's food budget under control?" "Am I living too close to the edge by carrying an extra mortgage to help my son?" "What's our best housing move in order to be closer to my parents?" Mentioned on today's program were Howard's books for children and teens, 'The ABC's of Handling Money' and 'The Secret of Handling Money'. 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!

Giving with Delight - Howard Dayton and Steve Moore reveal the joyful act of worship that giving is designed by God to be and explain the freedom you can experience by developing a Biblical attitude toward giving. Next, they take questions at (800) 525-7000 and MoneyWise@Compass1.org about the following: To what extent should I get involved in my parents' finances? We desperately need a larger home. Should we try to purchase a home soon? How much money should we have in our emergency fund? My husband feels called to work in ministry, but hasn't brought in an income in a few years and we need more income. How should I address this? I would like to open college funds for our 3 kids, but can't fully fund all 3 accounts. What should I do?

Is "Permissible" Debt Biblical? – Howard Dayton and Steve Moore explore what the Bible says about debt and what, if any, debt is permissible. Next, they answer questions at (800) 525-7000 and MoneWise@Compass1.org about the following: "I am planning to stay home with our baby, which means loss of income. How can I make this transition easier?" "My husband is in jail and I can't make ends meet right now. What can I do?" "I want to invest in property, but my husband isn't comfortable with it. What should we do?" 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!

So What's The Difference – Howard Dayton and Steve Moore explain the main difference between secular financial advice and Bible-based financial advice. Next, they answer questions at (800) 525-7000 and MoneWise@Compass1.org about the following: "I recently went through a home foreclosure. How can I begin to rebuild my credit?" "Should we take money out of investments to pay off our house?" "Do you have any tips for a good job interview?" "My teenage son is making good part-time money. What should he do with this money?" "Should I take out an auto loan to purchase a hybrid car?" 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!

Life - No Child's Game – Howard Dayton and Steve Moore relate how knowing Christ brings order to our lives and our finances. Next, they answer questions at (800) 525-7000 and MoneWise@Compass1.org about the following: "How do we expand our small family trucking business without jeopardizing its stability?" "How do I break bad money habits developed in my childhood?" (Howard recommended a Compass Coach) "How do I deal with a family member who's not faithful to pay rent on a home I own?" Mentioned on today's program was Howard's book, ''Your Money Counts'', the budgeting website, Mint.com and the "Navigating Your Finances God's Way" 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!

'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!

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!

What Makes a Business Christian? - Howard Dayton and Steve Moore look at businesses operated by those who know Christ as their savior and operate by biblical principles.  Plus, they answer calls and emails (800-525-7000 or moneywise@compass1.org) about the following: Settling financial issues for elderly relatives including possible embezzlement by a family member What to do with a real estate lot that the caller can't sell and doesn't have the money to develop Whether it's wise to invest more than an employer will match in a 401K or 403b account Improving your credit score by paying off payday loans. Steve closed the program by recommending Howard's audio book, "Your Money Map."  This, and the book by the same title, are the companions to the free "Compass Money Map."  They go into greater detail about the seven destinations on your journey to true financial freedom.  You'll find these in the store at Compass1.org.  You can also download a free copy of the Compass Money Map here. Thanks for your prayers and generous financial support which allow us to keep MoneyWise Weekend on-the-air!

Our Struggling Military – Howard Dayton and Steve Moore address the common financial challenges facing military families today. Next, they answer questions at (800) 525-7000 and MoneWise@Compass1.org about the following: "I am upside down on a couple of properties. Is there any way for me to refinance my loan?" "How do you budget on an irregular income?" "I purchased a term life policy 20 years ago and converted it to a universal life policy. I can no longer afford it, but we need life insurance. What are my options?" "We have a budget, but my husband has not been faithful in adhering to it. How should I handle this?" 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!

Don't Ignore Financial Problems  – Howard Dayton and Steve Moore reveal the importance of proactively addressing financial problems. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "My mother wants to refinance her condominium, but has been unable to do so. What are her options?" "I have an annuity with a payment of $50,000 due in a few years. Should I sell my annuity now?" "Should I invest in my 401k or buy life insurance first?" "I want to use savings to pay off credit card debt, but my spouse doesn't want to do that. What should we do?" 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 To Do after a Job Loss  – Howard Dayton and Steve Moore offer encouragement and practical advice for putting your life back together after a job loss.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How can I teach my children God's principles of handling money while also respecting my husband's different perspective?" "My paycheck disappears the day after I'm paid - what do I do?" "We've relocated to a more expensive area and feel uncomfortable with what we've had to pay for a home - any suggestions?" Mentioned on today's program were Howard's books, 'Money and Marriage God's Way' (also available as a small-group study), 'The Secret of Handling Money God's Way' and 'The ABC's 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!

Top Financial Moves for 2013 (with Mark Biller)  – Howard Dayton and Steve Moore welcome investment specialist, Mark Biller to MoneyWise.  Together, they help you identify your top financial moves for 2013. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "I'm out of debt and ready to start investing - where do I begin?" "How do I know it's time to pull out of an individual stock?" "Why do some stocks offer dividends?" "What do you think about investing in a 'hedge fund'?" "What's an 'ETF' and how does it compare to a mutual fund?" Mentioned on today's program was Howard's book, ''Your Money Counts'' and the 'Sound Mind Investing Handbook' from SoundMindInvesting.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!

Money Fights  – God wants money issues in your marriage to be 'glue', not a 'wedge'. Howard Dayton and Steve Moore tell you how to make that a reality, today on MoneyWise.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "My income and my home value have both dropped - can I still re-finance?" (Howard recommended checking out the HARP 2 program atMakingHomeAffordable.gov, as well as BankRate.com) "I'm a teacher - what's the best way for me to pay for a master's program?" "Will I save money by paying my mortgage 'bi-weekly'?" "How does one determine if a trust is better than a will?" "Does the Bible say that God is in charge of job promotions?" "Is there any way to get out of an auto lease?" Mentioned on today's program was the 'Set Your House in Order' Bible Study, as well as Howard's book, 'Money and Marriage God's Way' (also available as a 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!