Compass » Money Wise

Death and Taxes - Howard and Steve talk about preparing for a couple of life's certainties.  Howard reminds us that God's the owner of everything, including the stuff he has put in our care.  That's one of the reasons why it's important for each of us to prepare a will or trust.  Howard discusses the differences between these two instruments, both of which are tools of communication so that your loved ones can know what your wishes are with regard to you assets.  Next, Steve asks about where life insurance fits into the equation, and what the tax implications are with regard to our estate planning. Calls and emails (800-525-7000 or moneywise@compass1.org) include the following: How to know to whom we are to give beyond the local church (Steve offers the suggestion of setting up a personal benevolence fund) Whether or not to borrow from a retirement account to pay off a balloon loan 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 Weekend 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?

The Value of Meditating on God's Word - Howard Dayton and Steve Moore explain why perhaps the single greatest key to true financial freedom is meditating on the truth found in God's Word. Next, they take questions at (800) 525-7000 and MoneyWise@Compass1.org about the following: I have a 401k through my employer, but my husband does not yet contribute. How should we got about starting with his retirement saving? Is it okay for a Christian to file bankruptcy? A debt counselor advised me to stop paying on my debts in order to better negotiate settlements. Is this wise? Mentioned during this program: SoundMindInvesting.com. Be sure to check out the Compass website for a complete listing of other helpful resources and radio archives. Thanks for your prayers and generous financial support which allow us to keep MoneyWise on-the-air!

Facing Financial Temptation  – Howard Dayton and Steve Moore remind us that God's word - and a close relationship with Christ - are our key defenses against the lure of financial temptation.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Should I borrow money from my Thrift Savings Plan to pay off credit card debt?" "Is it okay to cut back on my giving in order to focus on my personal financial health?" "Should my teen have her own checking account and debit card?" "A company has offered to lend money to my small business based on our 'receivables' - is that risky?" "What do you think of life insurance 'survivor's benefits'?" "How much of my monthly budget should be allocated to transportation?" Mentioned on today's program was Howard's book, 'Your Money Counts' as well as a host of free financial calculators. 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!

New Year's Day 2013  – Howard Dayton and Steve Moore discuss what you can do this week to improve your financial situation in the coming year.  Then they turn to questions from listeners (800-525-7000 ormoneywise@compass1.org): "I tithe, but my husband does not - is that preventing God from blessing my life and marriage?" "A financial advisor is counseling us not to pay off our home - what does the Bible say?" "Retirement is approaching, but we don't have a lot set aside - would it be better to fund our retirement account or pay off our home?" "How do we determine the proper rent to charge on some commercial property?" "How do we deal with an unexpected IRS debt?" Mentioned on today's program was 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!

New Year's Eve 2012  – Howard Dayton and Steve Moore reflect on some of the challenges and blessings of the past year.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "My daughter has blemishes on her credit report due to some medical expenses not paid on time by our insurance company - how can she resolve this?" "Upon my parent's death, I'll inherit either 1) income property or 2) cash from the sale of that property - is one option better than another'?" (Howard recommended the Sound Mind Investing Handbook and SoundMindInvesting.com) "My teaching position offers no retirement plan - what should I be investing in?" Mentioned on today's program was the 'Set Your House in Order' Bible 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!

Kids Working  – Howard Dayton and Steve Moore suggest age-appropriate opportunities for instilling good work habits in children and adolescents.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "I'm 70 years old, on Social Security and thinking of either selling my home or taking on a renter - do you have any advice?" "Where's the trade-off between a car with good gas mileage and a car that fits my budget?" (check out Edmunds.com, Kelley Blue Book / kbb.com or AutoTrader.com ) "Should I withdraw money from my IRA to pay off my home?" Mentioned on today's program were several books for children and teens: 'The New Bicycle', 'The ABC's of Handling Money God's Way' 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 Weekend on-the-air!

Financial Twilight Zone - Howard Dayton and Steve Moore discuss the strange new financial realities and how you can adjust to a rapidly changing economic landscape. Next they answer questions at (800) 525-7000 and MoneyWise@Compass1.org about the following: It has been suggested that we combine our car loan with a property loan. Is this a good idea? How can we get out of date at an older age and build savings for our retirement? Mentioned in this program: Credability Nonprofit Debt Counseling & Education

Christians and Prosperity - Some suggest the Bible tells all Christians to live in poverty, while others claim every Christian is entitled to material wealth. Today Howard Dayton and Steve Moore reveal what the Bible really has to say about Christians and prosperity. Next they answer questions at (800) 525-7000 and MoneyWise@Compass1.org about the following: Should I take out student loans to further my education? We can't find any lender willing to refinance our mortgage. What are our options? I have just received a raise and I'm wondering about opening college accounts for my children. What should I do? Is there a rule of thumb as to what percentage of my income I should be saving and investing for retirement? Can you recommend a place to put my emergency fund cash where I can earn reasonable interest? What is the difference between a Roth IRA and a traditional IRA? 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 or Hoarding? (with Dave Szafranski) – Howard Dayton and Steve Moore welcome investment advisor, Dave Szafranski, to discuss saving, investing, generosity and fulfilling God's purposes for our life.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Is our economic system really as stable as we are led to believe, and should we pull our investment money out of the banks and stock market?" "I'm 24 years old and working for a company with no retirement plan - what are my options?" Mentioned on today's program were Howard's books, 'Free and Clear' and '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!

Christmas Day 2012  – Howard Dayton and Steve Moore reflect on the gift of God's Son for our salvation - for eternity, but also in our everyday lives.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "How do I best use - or invest - money my deceased husband left for me?" (Howard recommended SoundMindInvesting.com and the Sound Mind Investing Handbook) "How do my siblings and I settle a difference of opinion on the value of some property we inherited? And how would I go about purchasing their portion?" 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!

Christmas Eve  – Howard Dayton and Steve Moore reflect on how the celebration of Christmas should impact our lives and our finances.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "I'm a 71-yr-old widow and need some insight on future housing options." (Howard recommended checking out affordable housing options for seniors at HUD.gov) "I'm a 58-yr-old widow - what can you tell me about a 'reverse mortgage'?" (Howard again recommended HUD.gov) "How do we tithe off of money in my mom's estate'?" "Is there anything we can do about a dishonest creditor?" "What are some Bible passages that deal with money and marriage?" "Do you have any tips for getting the best deal on a used car?" (These websites were mentioned: AutoTrader.com, KBB.com, Edmunds.com) 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!

Christmas Shopping Tips - Howard Dayton and Steve Moore offer advice to help stretch your dollars during the holiday shopping, while avoiding additional debt. Next, they answer calls and questions at (800) 525-7000 and MoneyWise@Compass1.org about the following: Should you carry life insurance on young children? Would it be wise to continue renting out our second home, or should we sell it? Is it Biblically okay to accept unemployment benefits? How can our grandson get adequate transportation with little money and poor credit? My employer offers a thrift incentive plan. What is this and should I take advantage of it? 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 Weekend on-the-air!

Destination 3 on the Compass Money Map - Howard Dayton and Steve Moore explain destination 3 on the Compass Money Map (pay off student loans and auto debt.)  Next, they answer calls and questions at (800) 525-7000 and MoneyWise@Compass1.org about the following: I inherited 3 homes, but they need to be renovated to sell or rent. Should I borrow the money to do this? Should I buy long-term care insurance? We are renting out a home to someone and I would like to refinance that home. Is there a program that will allow us to do that? 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!

Learn to Celebrate - Howard Dayton and Steve Moore discuss the importance of celebrating your progress each step of the way on the road to true financial freedom. Next, they answer calls and questions at (800) 525-7000 and MoneyWise@Compass1.org about the following: I know the Bible discourages borrowing. But is it okay to borrow from myself (from my 401k)? Should I sell a rental property or take out another mortgage to clear up some other debts? My children will be receiving SS survivors benefits after the death of their mother. What should we do with this money? We have about $260, 000, which we've agreed to have Fidelity manage. Is this wise, or should we manage it ourselves? Some say the market is going to crash in the future and U.S. dollars won't be worth much. What should we do to prepare for that possibility? 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!