Compass » Money Wise

Life Insurance, with Mike Cave (ImpartialInsuranceAdvisor.com)  – Howard Dayton and Steve Moore welcome life insurance specialist, Mike Cave, to discuss the biblical and practical aspects of life insurance.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "We have a whole life policy that we've borrowed against - how do we determine if we should keep it in force?" "A friend passed away recently, but his life insurance policy can't be found - how do we locate it?" "If you cash in a universal life policy, do you receive the 'net policy value' or the 'net cash surrender value'?" 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!

Right and Wrong Thinking about Taxes  – Howard Dayton and Steve Moore discuss the Bible's perspective on paying taxes - including my attitude.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "My husband and I have very different perspectives on retirement planning - how do we get on the same page and reduce some of the tension?" "We're gotten way behind on our VA home loan and the lender is making it difficult to  get caught up - any suggestions?" "What should I look for in a property management company and what questions should I ask?" "Would it be immoral for me to take a job selling time shares, since I don't believe they are a good financial product?" "What are your tips for starting a business?" "I've cosigned on a car loan - is there any way to get my name removed?" 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!

Helping the Poor  – According to the Bible, taking care of the poor and needy is a big deal to God. Today on MoneyWise,  Howard Dayton and Steve Moore share some life-changing benefits of ministering to the less fortunate.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "We're recent college graduates, but underemployed and struggling to pay off student loans - should we focus on paying those off before considering a home purchase?" "I'm a 56-yr-old single mom and need some advice on investing an inheritance." (Howard mentioned SoundMindInvesting.com and 'The Sound Mind Investing Handbook') "How do I help a friend who's had long-term financial needs?" (Howard recommended a Compass Coach) Mentioned on today's program were the Compass small-group studies. 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!

Once and for All Decisions - Howard Dayton and Steve Moore talk about making Bible-based commitments that govern your financial decisions throughout your life. Next, they answer calls and questions at (800) 525-7000 and MoneyWise@compass1.org about the following: How do I invest in advance of heading into the mission field? I am disabled and deeply in debt. How do I handle this debt and address my creditors? I have just enough income to meet my monthly expenses. Should I continue to tithe? Mentioned in today's program: Kingdom Advisors (Christian financial advisors) and Credability (debt counseling) 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!

The 8th Wonder of the World - Howard Dayton and Steve Moore reveal what has been called the "8th wonder of the world". Next, they answer calls and questions at (800) 525-7000 and MoneyWise@Compass1.org about the following: Should I cash out some stock investments to put the money into ministry? I do not have a church home right now, so where should I give my tithes? Being newly self-employed, are their any considerations I need to keep in mind or common pitfalls I need to avoid? We are refinancing our home and I'm wondering if we should roll our credit card debt into the new loan. What steps should I take to try and find a good mortgage refinance option? Should we take money out of an IRA to add it to our emergency fund? 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!

Setting Prices in a Christian Business - Howard Dayton and Steve Moore discuss Biblically sound principles for setting prices fairly and profitably within your business. Next, they answer calls and quetsions at (800) 525-7000 and MoneyWise@Compass1.org about the following: What can we do to improve our credit? I have an opportunity to buy a business, but it will require borrowing heavily. What should I do? I've heard you not to contribute to a 401k beyond the employer match. Why? And if not the 401k, what should I invest in? Mentioned in this program: CreditKarma.com and AnnualCreditReport.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!

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 on the air!

An Update on the Economy, with Ken Frenke  – Howard Dayton and Steve Moore welcome investment advisor, Ken Frenke, to the program for a post-election view of the economy.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Can we split an IRA into two accounts under different names?" "I make $32,000 a year and can put some money toward debt reduction - how do I prioritize debt payoff?" (Howard recommended BankRate.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!

Being Entrusted with More  – Are you ready for God to entrust more finances into your care? Howard Dayton and Steve Moore discuss the role of fiduciary faithfulness today on MoneyWise.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "I see myself going into some kind of missions work - how can I best prepare financially for long-term retirement?" (Howard mentioned SoundMindInvesting.com and 'The Sound Mind Investing Handbook') "We're going to be relocating soon to a different state - is it better to rent for a while before purchasing a home?" "How do I know if re-finance offers in the mail are legitimate?" "How do banks view credit reports that (like mine) contain 'short sales'? When will I be able to purchase a home again?" Mentioned on today's program were Howard's books, 'Free and Clear' and 'Money and Marriage God's Way' (also available on audio 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!

How To Determine What To Buy and How Much To Spend  – How do our everyday purchases reveal our value system? Today on MoneyWise Weekend, Howard Dayton and Steve Moore offer guidelines for making wise spending decisions. Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Is it more important to pay off my low-interest student loan or get my retirement fund started?" "We've lost our home - what's our next step? Should we consider bankruptcy?" "As a young husband and father, what are my first steps for getting our finances on track?" Several helpful resources were mentioned on today's program, including the Compass small-group study, 'Navigating Your Finances God's Way',  the Compass Map. Compass coaches and Howard's book, 'Money and Marriage God's Way'.  Be sure to check out the Compass website for a complete listing of helpful resources, radio archives and calculators. Thanks for your prayers and generous financial support which allow us to keep MoneyWise Weekend on the air!

Looking Back on Your 2012 - Howard Dayton and Steve Moore discuss the importance of looking back on all the ways the Lord has blessed you throughout the year. Next, they answer calls and questions at (800) 525-7000 and MoneyWise@Compass1.org about the following: Should we take money from our 401k to pay off our house? How much should I focus on repaying student loans vs investing for the future? In my previous marriage, money was used to control me. I now hate dealing with money. How do I move beyond this? Is there a rule of thumb as to what percentage of my income I should set aside for taxes, being that I'm self-employed? 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 Source of All Truth - You must be careful where you get your advice. Howard Dayton and Steve Moore urge listeners to make sure any and all advice, financial or otherwise, lines up with the truth of God's Word. Next, they answer calls and questions at (800) 525-7000 and MoneyWise@Compass1.org about the following: I'm renting a house that is in foreclosure. Should I rent another home or look into buying a home? Do you advise investing in gold and silver? And if so, how much should we buy? My wife and I would like to purchase a home. But given our age and the economy, would this be wise right now? 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!

Tips To Keep Your Christmas Merry  – Howard Dayton and Steve Moore offer tips for increasing Christmas joy and decreasing Christmas stress.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "Do I understand correctly that a 'short sale' will hurt me less in 2012 than it will in 2013?" (Howard mentioned HARP 2 and BankRate.com) "My daughter is about to lose a home I gave her. Is there anything I can do about it?" (Howard recommended CredAbility.org) "How do you budget with an uncertain monthly income?" "Can we contribute to an IRA for 2012 in my wife's name even though she has no earned income?" 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!

Misplaced Optimism of Youth  – Howard Dayton and Steve Moore give parents guidelines for directing their children toward responsible financial adulthood.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "What financial preparation does the Bible say I need before getting married?" "What are the advantages of a Roth IRA vs a traditional IRA?" "My 79-yr-old mom has an annuity that just came due. Should we put that money into savings, into another annuity or somewhere else?" (Steve mentioned BankRate.com) "I'm on Social Security. Do I have to pay taxes on an IRA withdrawal?" "What do you think of life insurance for children?" Mentioned on today's program were the books, 'The ABC's of  Handling Money' and 'The Secret of Handling Money', as well as the  'Money and Marriage 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!

More Precious Than Silver  – Money and 'things' can be very helpful tools, but serving them is a dead-end street. Howard Dayton and Steve Moore help you keep your eyes on things of eternal value today on MoneyWise.  Then they turn to questions from listeners (800-525-7000 or moneywise@compass1.org): "As a small businessman, what's a reasonable mark-up for the raw materials I purchase?" "At 65, would I be better off putting some discretionary funds toward my mortgage or toward purchasing precious metals?" "We own rental property in another state - should we continue to rent it out or sell it?" 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!